Horizon Robotics (9660) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Horizon Robotics stock HK$0.52, price HK$3.78, that is 86.2% below the price, quality 20 out of 100. Rating: strongly overvalued. Calculated from audited financials with one of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.
How to read this chart
24‑month range HK$3.33 – HK$10.81 · fair‑value band HK$0.3500 – HK$0.6600 · the HK$3.78 price screens above the HK$0.5200 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.
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Horizon Robotics, an investment holding company, provides automotive solutions for passenger vehicles in China. The company operates in two segments, Automotive Solutions and Non-Automotive Solutions.
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It offers Horizon Mono, a front-camera advanced driver assistance system solution; Horizon SuperDrive, full-scenario automated driving and parking solution; and Horizon Journey, an automotive grade product for energy and smart driving solutions.
The company also provides non-automotive solutions that enable device manufacturers to design and manufacture devices and appliances. In addition, it engages in the development and sale of software products and provision of related services; and research and development activities.
Horizon Robotics was incorporated in 2015 and is headquartered in Beijing, China.
Stock analysis
Horizon Robotics (9660) currently trades at HK$3.78, while our model-based Fair Value estimate is HK$0.5200, 86% 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 96/100, which puts the data coverage at low.
Scenario range: HK$0.3500 (bear) to HK$0.6600 (bull), the price of HK$3.78 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 20/100 (below-average quality), in the Technology sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Horizon Robotics reported revenue of 3.7B CNY in FY2025 versus 467M CNY in FY2021, a compound +67.4%/yr. Reported net income was −10.2B CNY in FY2025.
Our AI-assisted moat analysis scores the competitive advantage at 6 out of 100 (low confidence).
What moves the price
The share trades about 61% below its 52-week high and 11% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at 10% fair-value upside, at −86%, 9660 screens richer than that median.
Fair Value models
BearHK$0.3500Fair Value HK$0.5200BullHK$0.6600
Price HK$3.78 · Downside -86.2%
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.38/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+53.6%
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.
+59.3%
’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.
−286.1% (2021) → −109.0% (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
AI conclusion: The business shows strength in growing revenue and gaining share with ADAS domain controllers among Chinese automakers, yet its main weakness lies in heavy ongoing R&D spend that sustains deep operating losses and negative cash flows.
Main risk: Automakers could increasingly develop their own ADAS solutions or turn to full-stack rivals such as Momenta and Huawei for lower-cost integrated offerings, reducing demand for Horizon's domain controllers and algorithms.
Bull case: Horizon could deepen its open ecosystem partnerships and toolchain advantages to become the preferred platform for OEMs that avoid full vertical integration, thereby retaining or expanding its role even as some customers develop in-house capabilities.
Bear case: If major Chinese automakers accelerate in-house chip development or shift volume to lower-cost integrated solutions from Momenta, Huawei or others, Horizon's revenue growth could stall and its heavy R&D spend might prolong losses without offsetting scale.
Horizon Robotics continues to grow revenue through its ADAS domain controller chips and intelligent driving solutions while steadily gaining share among Chinese automakers. Yet the heavy ongoing R&D spend keeps adjusted losses elevated and pushes the breakeven target out to 2028. Our models see the shares as overvalued given this extended investment phase. Will the market-share gains translate into earlier profitability or will the spending continue to outpace revenue for longer?
Price, fair value, quality and upside side by side.
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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 - Application · 630 stocks
Beats the industry median on 2/9 measures
Overall it trails its industry peers.
Valuation
Quality Score20 · Bottom 25%
Fair Value upside−86.2% · Bottom 25%
Profitability
Return on assets−33.3% · Bottom 25%
Net margin (12 months)−34.0% · Bottom 25%
Operating margin (12 months)−96.5% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)32.9% · Top 25%
Balance sheet
Debt / equity0.04× · Below median
Valuation Multiplesvs Software - Application median · lower = cheaper
P/B3.57× · Pricier than median
P/S (12 months)10.58× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 29
FUTURE (revenue growth)100· sector 40
PAST (return on equity)0· sector 20
HEALTH (low debt)98· sector 98
DIVIDEND (yield)0· 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). "Horizon Robotics Fair Value". https://www.fairvalue-calculator.com/stock/9660
Frequently asked questions
Is Horizon Robotics (9660) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of HK$0.5200 versus a price of HK$3.78, about 86% lower (overvalued).
What is the fair value of 9660?
Our model-based fair value for Horizon Robotics is HK$0.5200 (as of Nov 7, 2026), built from audited fundamentals. The current price: HK$3.78.
What is the quality score of 9660?
Horizon Robotics has a Quality Score of 20/100. 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 Horizon Robotics (9660)?
Our model-based price target is the fair value of HK$0.5200 (as of Nov 7, 2026) from 1 valuation models. Cautious scenario HK$0.3500, optimistic scenario HK$0.6600. It is a calculation from audited fundamentals, not an analyst target.
What is the Horizon Robotics stock forecast for 2026?
Our models put fair value at HK$0.5200, about 86% lower versus a price of HK$3.78 (overvalued). Cautious scenario HK$0.3500, optimistic scenario HK$0.6600. The calculation is refreshed regularly with new filings.
What is the revenue of Horizon Robotics (9660)?
Horizon Robotics reported trailing-twelve-month revenue of about 4.3B CNY (latest available figure, as of Nov 7, 2026).
What is the intrinsic value of Horizon Robotics (9660)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Horizon Robotics it is HK$0.5200 per share (as of Nov 7, 2026), against a price of HK$3.78. It is the blended result of 1 valuation models in 1 family (Asset-Based).
Is Horizon Robotics stock overvalued or undervalued in 2026?
As of Nov 7, 2026, 9660 trades above its calculated fair value: price HK$3.78, fair value HK$0.5200, a gap of about −86% (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 9660?
No. The price is what the market pays today (HK$3.78); the fair value is what the company's own numbers justify (HK$0.5200). For Horizon Robotics the two are HK$3.26 per share apart. That gap is exactly why we show both numbers side by side.
How much is Horizon Robotics worth?
The market values Horizon Robotics at about HK$53.1B (market capitalisation, as of Nov 7, 2026). Per share that is HK$3.78; our models calculate a fair value of HK$0.5200 per share.
What do the bullish and bearish scenarios say about 9660?
Our models span a range for Horizon Robotics: cautious scenario HK$0.3500, base HK$0.5200, optimistic HK$0.6600 per share (as of Nov 7, 2026, price HK$3.78). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Horizon Robotics (9660)?
Balance-sheet figures for Horizon Robotics (as of Nov 7, 2026): return on equity −27.0%, debt of 0.04 per unit of equity. They feed the Quality Score of 20/100, which measures business quality independently of the share price.
How far is 9660 from its 52-week high?
Horizon Robotics trades at HK$3.78, about 61% below its 52-week high of HK$9.69 and 11% above the low of HK$3.42 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of HK$0.5200 is for.
Which stocks are comparable to Horizon Robotics?
From the same area (Technology) we also value SAP SE, Salesforce, Inc, Shopify Inc, ServiceNow, 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 Horizon Robotics stock attractive at the current price?
The data as of Nov 7, 2026: price HK$3.78, calculated fair value HK$0.5200 (−86%), Quality Score 20/100, 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 9660 calculated?
We run Horizon Robotics through 1 models from 1 family: Asset-Based. Every model gets the same audited fundamentals; the fair value of HK$0.5200 builds on their evidence-weighted average, 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 13.0% above its aggregate fair value. Horizon Robotics 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 Horizon Robotics (9660)?
The closing price on Nov 6, 2026 was HK$3.78. Our model-based fair value is HK$0.5200, about 86% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Horizon Robotics right now?
The price sits above even our optimistic bull case (HK$0.6600). The favourable scenario is already priced in. Weak quality (20/100) 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 (HK$0.3500 to HK$0.6600) leaves room in how you read the outcome.
Key figures of Horizon Robotics
How large is the market capitalisation of Horizon Robotics (9660)?
The market capitalisation of Horizon Robotics is HK$53.1B (≈ $6.8B). 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 Horizon Robotics (9660)?
The price-to-sales ratio of Horizon Robotics is 13.1 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the return on equity of Horizon Robotics (9660)?
The return on equity (ROE) of Horizon Robotics is −27.0% (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 Horizon Robotics (9660)?
On an EBIT basis the return on assets of Horizon Robotics is −14.1% (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 Horizon Robotics (9660)?
The operating margin of Horizon Robotics is −96.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Horizon Robotics (9660)?
Revenue at Horizon Robotics is growing +32.9% versus a year earlier (3y avg +59.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Horizon Robotics (9660) generate?
The free cash flow of Horizon Robotics is −2.8B CNY (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Horizon Robotics (9660) hold?
Horizon Robotics holds more cash than debt, 7.0B CNY net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Thin data
Nov 7, 2026
