WEBRAY ORD A (SHH) EQSW Exp: (688651) fair value: what the stock is really worth
As of Oct 30, 2026: fair value (intrinsic value) of WEBRAY ORD A (SHH) EQSW Exp: stock ¥4.15, price ¥19.84, upside -79.1%, quality 32 out of 100. Rating: strongly overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Oct 30, 2026.
How to read this chart
39‑month range ¥17.21 – ¥57.70 · fair‑value band ¥2.74 – ¥5.18 · the ¥19.84 price screens above the ¥4.15 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Oct 30, 2026.
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WebRAY Tech(Beijing) Co., Ltd. develops cyberspace security solutions in China. The company offers cybersecurity products and services, cyberspace map, and satellite internet security service.
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It serves public security, electric power, financial technology, operators, education, and critical information infrastructure. The company was founded in 2010 and is headquartered in Beijing, China.
Stock analysis
WEBRAY ORD A (SHH) EQSW Exp: (688651) currently trades at ¥19.84, while our model-based Fair Value estimate is ¥4.15, 79.1% below the price, so the stock looks overvalued today.
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Valuation
How firm this estimate is: it rests on 1 models at a data quality of 93/100, which puts the data coverage at low.
Scenario range: ¥2.74 (bear) to ¥5.18 (bull), the price of ¥19.84 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 32/100 (below-average quality), in the Technology sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
WEBRAY ORD A (SHH) EQSW Exp: reported revenue of 308M CNY in FY2025 versus 203M CNY in FY2021, a compound +11.1%/yr. Reported net income was −47.5M CNY in FY2025.
Key figures
Market cap 2.1B CNY (≈ $312M) Small · P/S ratio 7.13 · EPS (TTM) ¥−0.5100 · Dividend yield 0.0% · Net margin −17.7% · Return on equity −5.4% · Return on assets (EBIT) 6.4% · Operating margin −57.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 12 out of 100 (low confidence).
What moves the price
The share trades about 55% below its 52-week high and 2% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −29% fair-value upside, at −79%, 688651 screens richer than that median.
Fair Value models
Bear¥2.74Fair Value ¥4.15Bull¥5.18
Price ¥19.84 · Upside -79.1%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.33/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+5.1%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+9.3%
’21
’22
’23
’24
’25
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
26.9% (2021) → −13.1% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
Compare WEBRAY ORD A (SHH) EQSW Exp: with another stock
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Software - Infrastructure · 357 stocks
Beats the industry median on 1/9 measures
Overall it trails its industry peers.
Valuation
Quality Score32 · Bottom 25%
Fair Value upside−79.1% · Bottom 25%
Profitability
Return on assets−4.2% · Below median
Net margin (12 months)−17.7% · Bottom 25%
Operating margin (12 months)−57.6% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)−23.8% · Bottom 25%
Dividend yield (12 months)0.0% · Bottom 25%
Valuation Multiplesvs Software - Infrastructure median · lower = cheaper
P/B2.24× · Cheaper than median
P/S (12 months)7.13× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 20
FUTURE (revenue growth)0· sector 59
PAST (return on equity)0· sector 21
HEALTH (low debt)0· sector 98
DIVIDEND (yield)1· sector 29
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "WEBRAY ORD A (SHH) EQSW Exp: Fair Value". https://www.fairvalue-calculator.com/stock/688651
Frequently asked questions
Is WEBRAY ORD A (SHH) EQSW Exp: (688651) overvalued or undervalued?
As of Oct 30, 2026, our model estimates a fair value of ¥4.15 versus a price of ¥19.84, about −79% upside (overvalued).
What is the fair value of 688651?
Our model-based fair value for WEBRAY ORD A (SHH) EQSW Exp: is ¥4.15 (as of Oct 30, 2026), built from audited fundamentals. The current price: ¥19.84.
What is the quality score of 688651?
WEBRAY ORD A (SHH) EQSW Exp: has a Quality Score of 32/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for WEBRAY ORD A (SHH) EQSW Exp: (688651)?
Our model-based price target is the fair value of ¥4.15 (as of Oct 30, 2026) from 1 valuation models. Cautious scenario ¥2.74, optimistic scenario ¥5.18. It is a calculation from audited fundamentals, not an analyst target.
What is the WEBRAY ORD A (SHH) EQSW Exp: stock forecast for 2026?
Our models put fair value at ¥4.15, about −79% upside versus a price of ¥19.84 (overvalued). Cautious scenario ¥2.74, optimistic scenario ¥5.18. The calculation is refreshed regularly with new filings.
What is the revenue of WEBRAY ORD A (SHH) EQSW Exp: (688651)?
WEBRAY ORD A (SHH) EQSW Exp: reported trailing-twelve-month revenue of about 291M CNY (latest available figure, as of Oct 30, 2026).
Does WEBRAY ORD A (SHH) EQSW Exp: pay a dividend?
WEBRAY ORD A (SHH) EQSW Exp: currently shows a dividend yield of 0.03% relative to its recent price (as of Oct 30, 2026).
What is the intrinsic value of WEBRAY ORD A (SHH) EQSW Exp: (688651)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For WEBRAY ORD A (SHH) EQSW Exp: it is ¥4.15 per share (as of Oct 30, 2026), against a price of ¥19.84. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is WEBRAY ORD A (SHH) EQSW Exp: stock overvalued or undervalued in 2026?
As of Oct 30, 2026, 688651 trades above its calculated fair value: price ¥19.84, fair value ¥4.15, a gap of about −79% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 688651?
No. The price is what the market pays today (¥19.84); the fair value is what the company's own numbers justify (¥4.15). For WEBRAY ORD A (SHH) EQSW Exp: the two are ¥15.69 per share apart. That gap is exactly why we show both numbers side by side.
How much is WEBRAY ORD A (SHH) EQSW Exp: worth?
The market values WEBRAY ORD A (SHH) EQSW Exp: at about 2.1B CNY (market capitalisation, as of Oct 30, 2026). Per share that is ¥19.84; our models calculate a fair value of ¥4.15 per share.
What do the bullish and bearish scenarios say about 688651?
Our models span a range for WEBRAY ORD A (SHH) EQSW Exp:: cautious scenario ¥2.74, base ¥4.15, optimistic ¥5.18 per share (as of Oct 30, 2026, price ¥19.84). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of WEBRAY ORD A (SHH) EQSW Exp: (688651)?
Balance-sheet figures for WEBRAY ORD A (SHH) EQSW Exp: (as of Oct 30, 2026): return on equity −5.4%. They feed the Quality Score of 32/100, which measures business quality independently of the share price.
How far is 688651 from its 52-week high?
WEBRAY ORD A (SHH) EQSW Exp: trades at ¥19.84, about 55% below its 52-week high of ¥43.63 and 2% above the low of ¥19.50 (as of Oct 30, 2026). Distance from the high says nothing about value: that is what the fair value of ¥4.15 is for.
Which stocks are comparable to WEBRAY ORD A (SHH) EQSW Exp:?
From the same area (Technology) we also value Microsoft Corporation, Palantir Technologies Inc, Oracle Corporation, Palo Alto Networks, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is WEBRAY ORD A (SHH) EQSW Exp: stock attractive at the current price?
The data as of Oct 30, 2026: price ¥19.84, calculated fair value ¥4.15 (−79%), Quality Score 32/100, from 1 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 688651 calculated?
We run WEBRAY ORD A (SHH) EQSW Exp: through 1 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ¥4.15, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.4 % above its aggregate fair value. WEBRAY ORD A (SHH) EQSW Exp: itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of WEBRAY ORD A (SHH) EQSW Exp: (688651)?
The closing price on Oct 30, 2026 was ¥19.84. Our model-based fair value is ¥4.15, about −79% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with WEBRAY ORD A (SHH) EQSW Exp: right now?
The price sits above even our optimistic bull case (¥5.18). The favourable scenario is already priced in. Weak quality (32/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range (¥2.74 to ¥5.18) leaves room in how you read the outcome.
Key figures of WEBRAY ORD A (SHH) EQSW Exp:
How large is the market capitalisation of WEBRAY ORD A (SHH) EQSW Exp: (688651)?
The market capitalisation of WEBRAY ORD A (SHH) EQSW Exp: is 2.1B CNY (≈ $312M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of WEBRAY ORD A (SHH) EQSW Exp: (688651)?
The price-to-sales ratio of WEBRAY ORD A (SHH) EQSW Exp: is 7.13 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of WEBRAY ORD A (SHH) EQSW Exp: (688651)?
Earnings per share at WEBRAY ORD A (SHH) EQSW Exp: are ¥−0.5100. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of WEBRAY ORD A (SHH) EQSW Exp: (688651)?
The dividend yield of WEBRAY ORD A (SHH) EQSW Exp: is 0.0%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of WEBRAY ORD A (SHH) EQSW Exp: (688651)?
The net margin of WEBRAY ORD A (SHH) EQSW Exp: is −17.7% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of WEBRAY ORD A (SHH) EQSW Exp: (688651)?
The return on equity (ROE) of WEBRAY ORD A (SHH) EQSW Exp: is −5.4% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of WEBRAY ORD A (SHH) EQSW Exp: (688651)?
On an EBIT basis the return on assets of WEBRAY ORD A (SHH) EQSW Exp: is 6.4% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of WEBRAY ORD A (SHH) EQSW Exp: (688651)?
The operating margin of WEBRAY ORD A (SHH) EQSW Exp: is −57.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at WEBRAY ORD A (SHH) EQSW Exp: (688651)?
Revenue at WEBRAY ORD A (SHH) EQSW Exp: is growing −23.8% versus a year earlier (3y avg +9.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at WEBRAY ORD A (SHH) EQSW Exp: (688651)?
Earnings per share at WEBRAY ORD A (SHH) EQSW Exp: are growing −63.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does WEBRAY ORD A (SHH) EQSW Exp: (688651) generate?
The free cash flow of WEBRAY ORD A (SHH) EQSW Exp: is −20.6M CNY (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
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Oct 30, 2026