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Maker of miniature camera modules and optical components for smartphones and VR/AR headsets.
Maker of miniature camera modules and optical components for smartphones and VR/AR headsets.
Builds camera modules to each customer's phone or headset design, so revenue arrives program by program and swings with a handful of customers' product cycles; Samsung is the long-standing anchor. Winning a place in a new headset or phone line matters more than the price per module.
In one line: A smaller, camera-module Largan Precision.
Moat: narrow (process know-how, customer qualification). Qualified precision-optics supplier to Samsung and Meta; switching such assembly partners mid-program is costly.
Headquarters: Hong Kong / Huizhou, China · Employees: 6,854
Size Cowell e (1415.HK) is a Hong Kong Consumer Discretionary company (Electronics/Appliances) with a market value of $2.38B, the 387th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$21.42 on 6 Nov 2026.
Performance Over six months the shares fell 32.7%, against +3.6% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 2nd lowest of 21 in its peer set.
Growth Revenue grew 14.9% over the last twelve months (peer median +3.2%); the operating margin is 6.6% (peer median 7.7%).
Valuation It trades at 9.8× forward earnings against a peer median of 18.8× (cheapest of 18).
Price implies For today's price to make sense, revenue must grow about -10% a year for seven years (Req g). Recent delivered growth is +36%, so the hurdle is -47 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 32.4 points above its cost of capital (7.0% WACC).
Next results Next results expected around 25 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$29.2B | HK$27.3B | HK$19.5B | HK$7.23B | HK$8.74B |
| Revenue growth | — | +40% | +169% | -17% | — |
| Gross profit | HK$2.99B | HK$2.79B | HK$2.26B | HK$995M | HK$1.36B |
| EBITDA | HK$2.48B | HK$2.29B | HK$1.76B | HK$608M | HK$975M |
| Net income | HK$1.71B | HK$1.54B | HK$929M | HK$365M | HK$660M |
| Free cash flow | HK$1.87B | HK$1.85B | -HK$1.42B | HK$283M | HK$96.4M |
| Capital expenditure | HK$616M | HK$578M | HK$1.94B | HK$632M | HK$726M |
| Total debt | n/a | HK$1.30B | HK$2.81B | HK$2.26B | HK$310M |
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 |
|---|---|---|---|---|---|---|
| Cowell e 1415.HK | $2.38B | -33% | +15% | 7% | 9.8× | -10.3% |
| Largan Precision 3008.TW | $17.7B | +76% | 0% | 35% | 26.0× | 12.6% |
| Sunny Optical 2382.HK | $8.92B | -3% | +20% | 8% | 14.8× | 4.9% |
| LG Innotek 011070.KS | $4.62B | -54% | +20% | 4% | 9.6× | -0.3% |
| OFILM 002456.SZ | $3.10B | -35% | -17% | -1% | n/a | 27.0% |
| Q Technology (Group) 1478.HK | $674M | -50% | +31% | 3% | 6.9× | 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 | 1415.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -8.2% | +0.3% | 6th lowest of 21 |
| 6-month return | -32.7% | +3.6% | 2nd lowest of 21 |
| Distance from 52-week high | -36.8% | -25.1% | 7th lowest of 21 |
| Revenue growth (TTM) | +14.9% | +3.2% | 5th highest of 21 |
| Operating margin | 6.6% | 7.7% | 10th lowest of 21 |
| Forward P/E | 9.8× | 18.8× | cheapest of 18 |
| Growth the price implies (Req g, 7 yrs) | -10.3% | 4.6% | least demanding of 14 |
| Growth delivered (Del g) | +36.2% | +4.5% | 2nd highest of 14 |
| Hurdle (Req g minus delivered) | -46.5 pp | -3.8 pp | least demanding of 14 |
| ROIC minus cost of capital | +32.4 pp | +0.1 pp | 2nd highest of 21 |
| EV / EBITDA | 6.6× | 12.0× | 2nd cheapest of 8 |
| Net debt / EBITDA | -0.9× | 1.7× | 3rd least indebted of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Cowell e 1415.HK | Hong Kong | $2.38B | -33% | +15% | 7% | 9.8× | -10.3% | +36.2% |
| Theon International THEON.AS | Netherlands | $2.36B | -10% | +32% | 23% | 17.1× | 18.7% | +52.2% |
| Shanghai Flyco Electrical Appliance 603868.SS | China | $2.34B | +4% | +1% | 17% | 24.2× | 4.6% | +1.5% |
| Hangzhou Robam Appliances 002508.SZ | China | $2.28B | -10% | -18% | 8% | 14.4× | 6.3% | +4.5% |
| Electrolux ELUX-A.ST | Sweden | $2.50B | +11% | -3% | -1% | 18.1× | 1.2% | +2.6% |
| IMAX IMAX | United States | $2.61B | +35% | +15% | 23% | 18.8× | 12.2% | +24.5% |
| Casio Computer 6952.T | Japan | $2.74B | +24% | +12% | 11% | 15.9× | 0.2% | +4.0% |
| Kingclean Electric 603355.SS | China | $2.79B | +4% | -2% | 8% | 35.9× | 4.4% | +9.4% |
| Whirlpool WHR | United States | $2.01B | -32% | -6% | 2% | n/a | n/a | n/a |
| Spectrum Brands SPB | United States | $1.99B | +6% | +1% | 9% | 17.1× | -2.5% | +1.4% |
| Joyoung 002242.SZ | China | $2.87B | +131% | -7% | -1% | 159.7× | n/a | n/a |
| Sonos SONO | United States | $1.94B | +9% | +6% | 6% | 149.2× | 17.3% | +1.7% |
| Nikon 7731.T | Japan | $3.17B | -12% | -4% | -2% | 45.4× | n/a | n/a |
| Tatung 2371.TW | Taiwan | $1.70B | -15% | +8% | 4% | 10.0× | n/a | n/a |
| Breville BRG.AX | Australia | $3.33B | +13% | +7% | 11% | 31.1× | 26.4% | +8.8% |
| Edifier Technology 002351.SZ | China | $1.60B | +8% | -1% | 18% | 22.3× | 3.0% | +7.6% |
| Seb SK.PA | France | $3.55B | +8% | -1% | 8% | 12.1× | -0.8% | +3.3% |
| Sichuan Jiuzhou Electric 000801.SZ | China | $1.58B | -19% | +20% | 3% | 45.1× | n/a | n/a |
| Shenzhen Newway Photomask Making 688401.SS | China | $1.45B | -27% | +18% | 26% | 17.9× | 23.6% | +23.7% |
| OneRobotics (Shenzhen) 6600.HK | Hong Kong | $1.41B | -55% | +48% | -9% | n/a | n/a | n/a |
| Gettop Acoustic 002655.SZ | China | $1.39B | -19% | +11% | 2% | n/a | n/a | n/a |