Hoymiles Power Electronics Inc.

SHSE:688032 Stock Report

Market Cap: CN¥15.5b

Hoymiles Power Electronics Valuation

Is 688032 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 688032 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 688032 (CN¥125) is trading above our estimate of fair value (CN¥51.45)

Significantly Below Fair Value: 688032 is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 688032?

Key metric: As 688032 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 688032. This is calculated by dividing 688032's market cap by their current earnings.
What is 688032's PE Ratio?
PE Ratio45.2x
EarningsCN¥342.03m
Market CapCN¥15.47b

Price to Earnings Ratio vs Peers

How does 688032's PE Ratio compare to its peers?

The above table shows the PE ratio for 688032 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average28.5x
688408 Arctech Solar Holding
25.3x25.0%CN¥15.6b
001301 Shijiazhuang Shangtai Technology
25.5x21.1%CN¥18.7b
000682 Dongfang Electronics
24x22.9%CN¥14.8b
002851 Shenzhen Megmeet Electrical
39.2x30.9%CN¥21.8b
688032 Hoymiles Power Electronics
45.2x43.1%CN¥15.5b

Price-To-Earnings vs Peers: 688032 is expensive based on its Price-To-Earnings Ratio (45.2x) compared to the peer average (28.5x).

Price to Earnings Ratio vs Industry

How does 688032's PE Ratio compare vs other companies in the CN Electrical Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
300023 Bode Energy Equipment
3.6xn/aUS$51.42m
No more companies available in this PE range
688032 45.2xIndustry Avg. 35.7xNo. of Companies36PE020406080100+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 688032 is expensive based on its Price-To-Earnings Ratio (45.2x) compared to the CN Electrical industry average (35.7x).

Price to Earnings Ratio vs Fair Ratio

What is 688032's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

688032 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio45.2x
Fair PE Ratio44x

Price-To-Earnings vs Fair Ratio: 688032 is expensive based on its Price-To-Earnings Ratio (45.2x) compared to the estimated Fair Price-To-Earnings Ratio (44x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst 688032 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCN¥125.00
CN¥166.33
+33.1%
14.0%CN¥198.00CN¥143.00n/a3
Nov ’25CN¥132.99
CN¥164.67
+23.8%
15.1%CN¥198.00CN¥138.00n/a3
Oct ’25CN¥166.22
CN¥164.67
-0.9%
15.1%CN¥198.00CN¥138.00n/a3
Sep ’25CN¥132.35
CN¥164.67
+24.4%
15.1%CN¥198.00CN¥138.00n/a3
Aug ’25CN¥131.36
CN¥181.16
+37.9%
7.9%CN¥201.34CN¥169.13n/a3
Jul ’25CN¥117.93
CN¥176.14
+49.4%
8.6%CN¥201.34CN¥161.07n/a4
Jun ’25CN¥157.19
CN¥183.68
+16.9%
11.0%CN¥213.69CN¥161.07n/a5
May ’25CN¥152.12
CN¥183.68
+20.7%
11.0%CN¥213.69CN¥161.07n/a5
Apr ’25CN¥171.83
CN¥190.26
+10.7%
10.1%CN¥213.69CN¥161.07n/a5
Mar ’25CN¥153.69
CN¥190.26
+23.8%
10.1%CN¥213.69CN¥161.07n/a5
Feb ’25CN¥123.36
CN¥209.45
+69.8%
17.0%CN¥271.14CN¥161.07n/a5
Jan ’25CN¥181.21
CN¥209.45
+15.6%
17.0%CN¥271.14CN¥161.07n/a5
Dec ’24CN¥148.49
CN¥209.45
+41.1%
17.0%CN¥271.14CN¥161.07n/a5
Nov ’24CN¥147.38
CN¥227.48
+54.3%
18.5%CN¥271.14CN¥161.07CN¥132.996
Oct ’24CN¥184.03
CN¥248.35
+35.0%
11.5%CN¥293.96CN¥215.44CN¥166.226
Sep ’24CN¥176.45
CN¥354.72
+101.0%
36.2%CN¥606.04CN¥225.22CN¥132.356
Aug ’24CN¥213.29
CN¥354.72
+66.3%
36.2%CN¥606.04CN¥225.22CN¥131.366
Jul ’24CN¥238.36
CN¥354.76
+48.8%
36.2%CN¥606.28CN¥225.22CN¥117.936
Jun ’24CN¥222.38
CN¥373.01
+67.7%
35.8%CN¥606.28CN¥225.22CN¥157.195
May ’24CN¥251.79
CN¥423.46
+68.2%
27.0%CN¥606.28CN¥267.84CN¥152.125
Apr ’24CN¥299.87
CN¥551.89
+84.0%
11.7%CN¥653.12CN¥477.46CN¥171.834
Mar ’24CN¥358.55
CN¥551.48
+53.8%
13.5%CN¥653.12CN¥477.46CN¥153.693
Feb ’24CN¥433.28
CN¥562.74
+29.9%
5.0%CN¥590.06CN¥523.87CN¥123.363
Jan ’24CN¥422.12
CN¥562.74
+33.3%
5.0%CN¥590.06CN¥523.87CN¥181.213
Dec ’23CN¥455.10
CN¥562.74
+23.7%
5.0%CN¥590.06CN¥523.87CN¥148.493
Nov ’23CN¥414.40
CN¥562.74
+35.8%
5.0%CN¥590.06CN¥523.87CN¥147.383

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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