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Chinese maker of cellular IoT and 5G wireless communication modules for connected devices and vehicles.
Chinese maker of cellular IoT and 5G wireless communication modules for connected devices and vehicles.
Earns a margin on each module sold, paid by device makers who build it into their products, so a design win brings volume across the product's life, though module prices are pressed by competition. Laptops, vehicles and fixed wireless routers all use cellular modules, spreading demand. The company also has a Hong Kong share quote.
In one line: A Chinese IoT-module maker, akin to a small Sierra Wireless.
Moat: narrow (scale, switching costs). Module design-wins embed into customer products, creating multi-year switching costs.
Headquarters: Shenzhen, China · Founded: 1999 · Employees: 1,863
Size Fibocom Wireless (300638.SZ) is a China Information Technology company (Telecommunications Equipment) with a market value of $1.88B, the 1330th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥20.12 on 6 Nov 2026.
Performance Over six months the shares fell 10.4%, against -25.2% for the median peer and -16.4% for the China market (cap-weighted) — 5th highest of 19 in its peer set.
Growth Revenue grew 3.1% over the last twelve months (peer median +13.4%); the operating margin is 1.5% (peer median 5.1%).
Valuation It trades at 62.9× forward earnings against a peer median of 20.5× (2nd most expensive of 13).
Capital Return on invested capital runs 6.4 points below its cost of capital (9.3% WACC).
Next results Next results expected around 31 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥7.56B | CN¥6.98B | CN¥8.18B | CN¥7.70B | CN¥5.64B |
| Revenue growth | — | -15% | +6% | +37% | — |
| Gross profit | CN¥1.14B | CN¥1.02B | CN¥1.42B | CN¥1.61B | CN¥1.03B |
| EBITDA | n/a | CN¥493M | CN¥631M | CN¥817M | CN¥439M |
| Net income | CN¥207M | CN¥347M | CN¥668M | CN¥564M | CN¥365M |
| Free cash flow | -CN¥2.69B | CN¥144M | CN¥319M | CN¥500M | CN¥128M |
| Capital expenditure | CN¥272M | CN¥218M | CN¥124M | CN¥156M | CN¥173M |
| Total debt | CN¥2.60B | CN¥1.37B | CN¥1.68B | CN¥1.53B | CN¥1.67B |
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 |
|---|---|---|---|---|---|---|
| Fibocom Wireless 300638.SZ | $1.88B | -10% | +3% | 2% | 62.9× | n/a |
| MeiG Smart Technology 002881.SZ | $1.92B | +8% | +24% | 7% | 49.5× | n/a |
| Quectel Wireless Solutions 603236.SS | $4.71B | +50% | +30% | 5% | 21.1× | 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 | 300638.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +9.1% | -11.5% | 4th highest of 21 |
| 6-month return | -10.4% | -25.2% | 5th highest of 19 |
| Distance from 52-week high | -44.7% | -50.1% | 9th highest of 21 |
| Revenue growth (TTM) | +3.1% | +13.4% | 7th lowest of 21 |
| Operating margin | 1.5% | 5.1% | 9th lowest of 21 |
| Forward P/E | 62.9× | 20.5× | 2nd most expensive of 13 |
| ROIC minus cost of capital | -6.4 pp | -2.2 pp | 8th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Fibocom Wireless 300638.SZ | China | $1.88B | -10% | +3% | 2% | 62.9× | n/a | n/a |
| Calix CALX | United States | $1.89B | -29% | +23% | 5% | 13.9× | 23.1% | +13.1% |
| Skyworth Digital 000810.SZ | China | $1.85B | -15% | +28% | 1% | 23.0× | n/a | n/a |
| MeiG Smart Technology 002881.SZ | China | $1.92B | +8% | +24% | 7% | 49.5× | n/a | n/a |
| Wuhan Yangtze Communication Industry 600345.SS | China | $1.85B | -23% | +13% | -8% | n/a | n/a | n/a |
| Shanghai Longcheer Technology 9611.HK | Hong Kong | $1.97B | -14% | +7% | 0% | 12.7× | n/a | n/a |
| Beijing Tricolor Technology 603516.SS | China | $1.72B | -60% | -11% | -20% | 57.4× | n/a | n/a |
| Eastern Communications 600776.SS | China | $1.72B | -33% | +7% | -5% | n/a | n/a | n/a |
| Shenzhen KTC Technology 001308.SZ | China | $2.09B | +3% | 0% | 3% | 20.3× | n/a | n/a |
| Tongyu Communication 002792.SZ | China | $2.12B | -38% | +2% | -4% | 299.2× | n/a | n/a |
| Hytera Communications 002583.SZ | China | $2.17B | -20% | +4% | 7% | 19.4× | n/a | n/a |
| FS.COM 3355.HK | Hong Kong | $1.63B | -27% | +14% | 23% | n/a | -11.0% | +19.4% |
| Shenzhen SDMC Technology 0901.HK | Hong Kong | $1.61B | n/a | +33% | 10% | n/a | n/a | n/a |
| Wingtech Technology 600745.SS | China | $2.26B | -59% | -93% | -30% | n/a | n/a | n/a |
| Jushri Technologies 300762.SZ | China | $2.31B | -45% | -17% | -91% | n/a | n/a | n/a |
| Wuhan Changjin Photonics Technology 688635.SS | China | $2.39B | n/a | +28% | 39% | n/a | n/a | n/a |
| Digi International DGII | United States | $2.40B | -4% | +20% | 15% | 20.6× | 20.5% | +9.0% |
| WNC 6285.TW | Taiwan | $2.41B | -29% | +30% | 5% | 10.8× | -0.5% | +12.0% |
| Shanghai HuaCe Navigation Technology 300627.SZ | China | $2.44B | -35% | 0% | 13% | 21.0× | 18.6% | +21.3% |
| CITIC Guoan Information Industry 000839.SZ | China | $1.45B | -17% | +14% | 7% | n/a | 11.3% | +7.0% |
| Furuno Electric 6814.T | Japan | $1.42B | -1% | +14% | 13% | 13.0× | 7.4% | +11.3% |