Employees: 1,173
Size Wiscom System (002090.SZ) is a China Information Technology company (Electronic Equipment/Instruments) with a market value of $485M, the 3926th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥8.19 on 6 Nov 2026.
Performance Over six months the shares fell 27.1%, against -27.3% for the median peer and -16.4% for the China market (cap-weighted) — 11th highest of 21 in its peer set.
Growth Revenue fell 4.2% over the last twelve months (peer median +6.2%); the operating margin is 0.5% (peer median 3.8%).
Valuation It trades at 1.5× enterprise value to sales against a peer median of 2.7× (7th cheapest of 21).
Price implies For today's price to make sense, revenue must grow about 34% a year for seven years (Req g). Recent delivered growth is -3%, so the hurdle is +38 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 4.3 points below its cost of capital (6.4% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥1.64B | CN¥1.55B | CN¥1.77B | CN¥1.61B | CN¥1.52B |
| Revenue growth | — | -12% | +10% | +6% | — |
| Gross profit | CN¥432M | CN¥411M | CN¥415M | CN¥374M | CN¥368M |
| EBITDA | n/a | CN¥71.2M | CN¥78.1M | CN¥46.1M | CN¥28.9M |
| Net income | CN¥45.7M | CN¥66.0M | CN¥72.3M | CN¥60.5M | CN¥30.0M |
| Free cash flow | CN¥87.6M | CN¥141M | CN¥232M | CN¥266M | CN¥82.8M |
| Capital expenditure | CN¥14.2M | CN¥7.23M | CN¥79.0M | CN¥37.9M | CN¥12.2M |
| Total debt | CN¥456M | CN¥250M | CN¥282M | CN¥243M | CN¥233M |
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| Measure | 002090.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -9.4% | -12.7% | 5th highest of 21 |
| 6-month return | -27.1% | -27.3% | 11th highest of 21 |
| Distance from 52-week high | -39.8% | -47.6% | 6th highest of 21 |
| Revenue growth (TTM) | -4.2% | +6.2% | 7th lowest of 21 |
| Operating margin | 0.5% | 3.8% | 8th lowest of 21 |
| EV / Sales | 1.5× | 2.7× | 7th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | 34.3% | 6.9% | 3rd most demanding of 12 |
| Growth delivered (Del g) | -3.4% | +8.2% | lowest of 12 |
| Hurdle (Req g minus delivered) | +37.7 pp | -5.5 pp | most demanding of 12 |
| ROIC minus cost of capital | -4.3 pp | -4.1 pp | 10th highest of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Wiscom System 002090.SZ | China | $485M | -27% | -4% | 1% | 1.5× | 34.3% | -3.4% |
| Babcock & Wilcox Enterprises BW | United States | $484M | -78% | +40% | 4% | 0.5× | n/a | n/a |
| Integrated Electronic Systems Lab Co 002339.SZ | China | $486M | -34% | +11% | -2% | 1.1× | 15.8% | +8.2% |
| Sinosun Technology 300333.SZ | China | $482M | +3% | +2% | -13% | 25.4× | n/a | n/a |
| Grade Upon Technology 6739.TWO | Taiwan | $481M | -52% | +99% | 57% | 13.4× | 12.4% | +26.7% |
| Careray Digital Medical Technology 688607.SS | China | $479M | -45% | +2% | -10% | 10.8× | n/a | n/a |
| Merry Electronics 2439.TW | Taiwan | $493M | -26% | +9% | 2% | 0.3× | -5.0% | +6.2% |
| Chengdu Zhimingda Electronics 688636.SS | China | $474M | -58% | -12% | 13% | 4.9× | n/a | n/a |
| Henan Splendor Science and Technology 002296.SZ | China | $470M | -23% | -36% | 18% | 3.2× | 6.3% | +6.6% |
| Nippon Ceramic 6929.T | Japan | $501M | -14% | +3% | 23% | 1.9× | -4.5% | +9.8% |
| Espec 6859.T | Japan | $504M | +7% | +9% | 10% | 0.8× | 7.1% | +12.6% |
| Ningbo Jianan Electronics 300880.SZ | China | $466M | -29% | -33% | 5% | 4.6× | 34.7% | +4.7% |
| SZZT Electronics 002197.SZ | China | $506M | -32% | +25% | -17% | 5.9× | n/a | n/a |
| Kewell Technology 688551.SS | China | $464M | -20% | +13% | 2% | 5.0× | n/a | n/a |
| Shanghai Hi-Tech Control System 002184.SZ | China | $507M | -16% | -16% | -3% | 1.8× | n/a | n/a |
| Zhejiang Wellsun Intelligent Technology 300882.SZ | China | $510M | -35% | +13% | -1% | 2.3× | n/a | n/a |
| Osaka Organic Chemical Industry 4187.T | Japan | $518M | -21% | +18% | 22% | 1.6× | 6.9% | +4.8% |
| Anhui Wanyi Science And Technology Co. Ltd. Class 1 688600.SS | China | $522M | -11% | +4% | 5% | 4.0× | 34.5% | +11.2% |
| Shenzhen Bestek Technology 300822.SZ | China | $448M | -37% | -19% | -6% | 3.7× | n/a | n/a |
| Goldcard Smart 300349.SZ | China | $531M | -33% | -5% | 4% | 1.0× | 2.9% | +10.8% |
| IDEC 6652.T | Japan | $534M | -11% | +17% | 10% | 1.1× | 0.7% | +6.2% |