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World's largest maker of video surveillance cameras, recorders and AI-based security/monitoring systems.
World's largest maker of video surveillance cameras, recorders and AI-based security/monitoring systems.
Sells cameras and recorders through system integrators and distributors, with China, where city and government security projects create much of the demand, as the main market and roughly a third of sales abroad. A subsidiary of CETC, a Chinese state-owned defence-electronics group, is the controlling shareholder. It has spun out listed subsidiaries including EZVIZ for home cameras.
In one line: A much larger, camera-focused Motorola Solutions.
Moat: narrow (scale, distribution, IP / patents). Largest global surveillance-camera maker with broad distribution, though hit by Western sanctions/bans.
Headquarters: Hangzhou, China · Founded: 2001 · Employees: 57,202
Size Hangzhou Hikvision Digital Technology (002415.SZ) is a China Information Technology company (Telecommunications Equipment) with a market value of $49.1B, the 35th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥35.25 on 6 Nov 2026.
Performance Over six months the shares fell 2.9%, against -25.1% for the median peer and -16.4% for the China market (cap-weighted) — 4th highest of 13 in its peer set.
Growth Revenue grew 8.1% over the last twelve months (peer median +17.0%); the operating margin is 18.9% (peer median 9.4%).
Valuation It trades at 17.5× forward earnings against a peer median of 18.2× (7th cheapest of 13).
Price implies For today's price to make sense, revenue must grow about 3% a year for seven years (Req g). Recent delivered growth is +8%, so the hurdle is -5 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 15.0 points above its cost of capital (6.7% WACC).
Next results Next results expected around 12 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥101B | CN¥92.0B | CN¥92.0B | CN¥88.8B | CN¥82.7B |
| Revenue growth | — | 0% | +4% | +7% | — |
| Gross profit | CN¥51.0B | CN¥40.6B | CN¥38.9B | CN¥38.1B | CN¥33.9B |
| EBITDA | n/a | CN¥17.3B | CN¥15.2B | CN¥16.4B | CN¥14.5B |
| Net income | CN¥17.8B | CN¥14.2B | CN¥12.0B | CN¥14.1B | CN¥12.8B |
| Free cash flow | CN¥17.1B | CN¥21.9B | CN¥8.67B | CN¥12.7B | CN¥6.54B |
| Capital expenditure | CN¥2.77B | CN¥3.62B | CN¥4.67B | CN¥4.05B | CN¥3.76B |
| Total debt | CN¥5.95B | CN¥10.2B | CN¥9.73B | CN¥22.2B | CN¥17.7B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Hangzhou Hikvision Digital Technology 002415.SZ | $49.1B | -3% | +8% | 19% | 17.5× | 2.6% |
| Zhejiang Dahua Technology 002236.SZ | $7.04B | -21% | +7% | 7% | 12.3× | n/a |
| Motorola Solutions MSI | $85.1B | +34% | +10% | 25% | 27.0× | 16.4% |
| Hanwha Vision 489790.KS | $1.41B | -56% | +20% | 11% | 10.4× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 002415.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +6.8% | -7.6% | 4th highest of 13 |
| 6-month return | -2.9% | -25.1% | 4th highest of 13 |
| Distance from 52-week high | -10.0% | -46.2% | 2nd highest of 13 |
| Revenue growth (TTM) | +8.1% | +17.0% | 5th lowest of 13 |
| Operating margin | 18.9% | 9.4% | 3rd highest of 13 |
| Forward P/E | 17.5× | 18.2× | 7th cheapest of 13 |
| Growth the price implies (Req g, 7 yrs) | 2.6% | 17.4% | 3rd least demanding of 11 |
| Growth delivered (Del g) | +7.8% | +7.9% | 6th highest of 11 |
| Hurdle (Req g minus delivered) | -5.2 pp | +11.2 pp | 4th least demanding of 11 |
| ROIC minus cost of capital | +15.0 pp | +4.3 pp | 4th highest of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Hangzhou Hikvision Digital Technology 002415.SZ | China | $49.1B | -3% | +8% | 19% | 17.5× | 2.6% | +7.8% |
| Nokia NOKIA.HE | Finland | $44.3B | -37% | +4% | 14% | 19.2× | 17.4% | -1.9% |
| Ubiquiti UI | United States | $35.9B | -30% | +27% | 36% | 33.5× | 22.2% | +11.5% |
| Telefonaktiebolaget LM Ericsson ERIC-A.ST | Sweden | $34.9B | -9% | -4% | 14% | 17.3× | -8.7% | +0.4% |
| Ciena CIEN | United States | $34.5B | -56% | +33% | 14% | 23.4× | 29.0% | +6.2% |
| Motorola Solutions MSI | United States | $85.1B | +34% | +10% | 25% | 27.0× | 16.4% | +9.5% |
| Xiaomi-w 1810.HK | Hong Kong | $99.0B | -2% | +6% | 3% | 27.8× | 24.3% | +12.4% |
| Accton Technology 2345.TW | Taiwan | $21.6B | -49% | +82% | 14% | 12.5× | 4.5% | +35.4% |
| Foxconn Industrial Internet 601138.SS | China | $120B | -35% | +60% | 5% | 13.1× | n/a | n/a |
| ZTE 0763.HK | Hong Kong | $19.0B | -27% | +20% | 1% | 14.6× | 17.5% | +4.9% |
| ZTE 000063.SZ | China | $19.0B | -23% | +14% | 1% | 24.2× | 19.0% | +5.6% |
| TCL Technology 000100.SZ | China | $15.0B | +7% | +5% | 0% | 13.1× | -4.7% | +19.1% |
| Huaqin 603296.SS | China | $12.7B | -13% | +28% | 2% | 17.1× | n/a | n/a |