Loading…
Online direct-to-business retailer of fiber-optic and data-center networking equipment (transceivers, cables, switches).
Online direct-to-business retailer of fiber-optic and data-center networking equipment (transceivers, cables, switches).
In one line: A Chinese online B2B networking-hardware retailer focused on optics.
Moat: narrow (distribution, scale). Broad online catalog and fast global fulfillment for networking hardware builds customer stickiness.
Headquarters: Shenzhen, China · Founded: 2009 · Employees: 2,442
Size FS.COM (3355.HK) is a Hong Kong Information Technology company (Telecommunications Equipment) with a market value of $1.63B, the 470th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$31.42 on 6 Nov 2026.
Performance Over six months the shares fell 27.1%, against -19.1% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 8th lowest of 20 in its peer set.
Growth Revenue grew 13.6% over the last twelve months (peer median +14.3%); the operating margin is 23.2% (peer median 2.9%).
Valuation It trades at 3.0× enterprise value to sales against a peer median of 1.9× (7th most expensive of 21).
Price implies For today's price to make sense, revenue must grow about -11% a year for seven years (Req g). Recent delivered growth is +19%, so the hurdle is -30 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 23.9 points above its cost of capital (5.3% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | n/a | HK$3.22B | HK$2.83B | HK$2.45B | HK$2.31B |
| Revenue growth | — | +14% | +16% | +6% | — |
| Gross profit | n/a | HK$1.75B | HK$1.31B | HK$1.14B | HK$989M |
| EBITDA | n/a | HK$889M | HK$618M | HK$591M | HK$490M |
| Net income | n/a | HK$652M | HK$431M | HK$505M | HK$424M |
| Free cash flow | n/a | HK$783M | -HK$356M | HK$272M | -HK$45.1M |
| Capital expenditure | n/a | HK$90.2M | HK$791M | HK$377M | HK$245M |
| Total debt | n/a | HK$708M | HK$748M | HK$206M | HK$125M |
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 | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| FS.COM 3355.HK | $1.63B | -27% | +14% | 23% | 3.0× | -11.0% |
| Cisco CSCO | $369B | -3% | +12% | 25% | 6.1× | 15.0% |
| Zhongji Innolight 300308.SZ | $79.4B | -48% | +162% | 41% | 5.8× | 23.2% |
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 | 3355.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -16.3% | -4.2% | 5th lowest of 21 |
| 6-month return | -27.1% | -19.1% | 8th lowest of 20 |
| Distance from 52-week high | -44.9% | -44.0% | 10th lowest of 21 |
| Revenue growth (TTM) | +13.6% | +14.3% | 10th lowest of 21 |
| Operating margin | 23.2% | 2.9% | 2nd highest of 21 |
| EV / Sales | 3.0× | 1.9× | 7th most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | -11.0% | 11.3% | least demanding of 8 |
| Growth delivered (Del g) | +19.4% | +11.3% | highest of 8 |
| Hurdle (Req g minus delivered) | -30.4 pp | +10.0 pp | least demanding of 8 |
| ROIC minus cost of capital | +23.9 pp | -2.7 pp | 2nd highest of 21 |
| EV / EBITDA | 10.7× | 8.7× | 3rd most expensive of 6 |
| Net debt / EBITDA | -3.7× | -0.3× | 2nd least indebted of 7 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| FS.COM 3355.HK | Hong Kong | $1.63B | -27% | +14% | 23% | 3.0× | -11.0% | +19.4% |
| Shenzhen SDMC Technology 0901.HK | Hong Kong | $1.61B | n/a | +33% | 10% | 2.9× | n/a | n/a |
| Eastern Communications 600776.SS | China | $1.72B | -33% | +7% | -5% | 3.5× | n/a | n/a |
| Beijing Tricolor Technology 603516.SS | China | $1.72B | -60% | -11% | -20% | 33.8× | n/a | n/a |
| CITIC Guoan Information Industry 000839.SZ | China | $1.45B | -17% | +14% | 7% | 2.9× | 11.3% | +7.0% |
| Wuhan Yangtze Communication Industry 600345.SS | China | $1.85B | -23% | +13% | -8% | 11.2× | n/a | n/a |
| Skyworth Digital 000810.SZ | China | $1.85B | -15% | +28% | 1% | 1.4× | n/a | n/a |
| Furuno Electric 6814.T | Japan | $1.42B | -1% | +14% | 13% | 1.4× | 7.4% | +11.3% |
| Shenzhen Gongjin Electronics 603118.SS | China | $1.42B | -18% | +21% | 2% | 1.0× | n/a | n/a |
| Hanwha Vision 489790.KS | South Korea | $1.41B | -56% | +20% | 11% | 0.9× | n/a | n/a |
| Tianjin 712 Communication & Broadcasting 603712.SS | China | $1.41B | -25% | +27% | -17% | 5.0× | n/a | n/a |
| Fibocom Wireless 300638.SZ | China | $1.88B | -10% | +3% | 2% | 1.7× | n/a | n/a |
| Calix CALX | United States | $1.89B | -29% | +23% | 5% | 1.5× | 23.1% | +13.1% |
| MeiG Smart Technology 002881.SZ | China | $1.92B | +8% | +24% | 7% | 2.8× | n/a | n/a |
| Hwa Create 300045.SZ | China | $1.35B | -39% | -7% | -20% | 14.5× | n/a | n/a |
| Shanghai Longcheer Technology 9611.HK | Hong Kong | $1.97B | -14% | +7% | 0% | 0.5× | n/a | n/a |
| Zhejiang Chengchang Technology 001270.SZ | China | $1.34B | -37% | -1% | 27% | 20.9× | 44.0% | +18.3% |
| Arlo Technologies ARLO | United States | $1.33B | -19% | +16% | 3% | 2.0× | 32.6% | +8.2% |
| Noritsu Koki 7744.T | Japan | $1.31B | -7% | +33% | 20% | 1.5× | -6.9% | +16.8% |
| Vistance Networks VISN | United States | $1.27B | -35% | -38% | 12% | 0.4× | -4.6% | -25.5% |
| Shenzhen KTC Technology 001308.SZ | China | $2.09B | +3% | 0% | 3% | 1.2× | n/a | n/a |