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China's top personal-care appliance brand, selling electric shavers, hair clippers and hair dryers mostly domestically.
China's top personal-care appliance brand, selling electric shavers, hair clippers and hair dryers mostly domestically.
Shavers carry the company; it sells mainly under its own brand through online platforms and offline appliance retailers, almost all within mainland China, with replacement of worn appliances as the repeat driver.
In one line: China's Conair/Remington of shavers and hair-care appliances.
Moat: narrow (brand, distribution). Leading domestic brand recall and broad retail/e-commerce distribution.
Headquarters: Shanghai, China · Employees: 3,794
Size Shanghai Flyco Electrical Appliance (603868.SS) is a China Consumer Discretionary company (Electronics/Appliances) with a market value of $2.34B, the 1094th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥35.76 on 6 Nov 2026.
Performance Over six months the shares gained 3.6%, against -3.0% for the median peer and -16.4% for the China market (cap-weighted) — 10th highest of 21 in its peer set.
Growth Revenue grew 0.5% over the last twelve months (peer median +6.2%); the operating margin is 17.3% (peer median 7.1%).
Valuation It trades at 24.2× forward earnings against a peer median of 18.1× (7th most expensive of 18).
Price implies For today's price to make sense, revenue must grow about 5% a year for seven years (Req g). Recent delivered growth is +2%, so the hurdle is +3 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 32.2 points above its cost of capital (6.3% WACC).
Next results Next results expected around 23 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥3.89B | CN¥3.83B | CN¥4.12B | CN¥5.02B | CN¥4.60B |
| Revenue growth | — | -7% | -18% | +9% | — |
| Gross profit | CN¥2.32B | CN¥2.07B | CN¥2.14B | CN¥2.72B | CN¥2.37B |
| EBITDA | n/a | CN¥737M | CN¥577M | CN¥1.22B | CN¥1.13B |
| Net income | CN¥587M | CN¥512M | CN¥458M | CN¥1.02B | CN¥823M |
| Free cash flow | CN¥575M | CN¥832M | CN¥229M | CN¥1.26B | CN¥719M |
| Capital expenditure | CN¥202M | CN¥61.5M | CN¥87.8M | CN¥71.5M | CN¥113M |
| Total debt | CN¥2.92M | CN¥523,257 | CN¥8.88M | CN¥26.3M | CN¥25.5M |
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 |
|---|---|---|---|---|---|---|
| Shanghai Flyco Electrical Appliance 603868.SS | $2.34B | +4% | +1% | 17% | 24.2× | 4.6% |
| Koninklijke Philips PHIA.AS | $29.8B | +24% | -1% | 10% | 16.5× | 5.7% |
| Panasonic 6752.T | $44.5B | -6% | +4% | 8% | 13.5× | 9.8% |
| Zhejiang Supor 002032.SZ | $5.37B | -4% | 0% | 10% | 18.0× | -2.8% |
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 | 603868.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +12.5% | -2.5% | 4th highest of 21 |
| 6-month return | +3.6% | -3.0% | 10th highest of 21 |
| Distance from 52-week high | -20.5% | -30.1% | 9th highest of 21 |
| Revenue growth (TTM) | +0.5% | +6.2% | 9th lowest of 21 |
| Operating margin | 17.3% | 7.1% | 5th highest of 21 |
| Forward P/E | 24.2× | 18.1× | 7th most expensive of 18 |
| Growth the price implies (Req g, 7 yrs) | 4.6% | 4.4% | 7th most demanding of 14 |
| Growth delivered (Del g) | +1.5% | +7.6% | 2nd lowest of 14 |
| Hurdle (Req g minus delivered) | +3.1 pp | -3.9 pp | 3rd most demanding of 14 |
| ROIC minus cost of capital | +32.2 pp | +0.1 pp | 3rd highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shanghai Flyco Electrical Appliance 603868.SS | China | $2.34B | +4% | +1% | 17% | 24.2× | 4.6% | +1.5% |
| Theon International THEON.AS | Netherlands | $2.36B | -10% | +32% | 23% | 17.1× | 18.7% | +52.2% |
| Cowell e 1415.HK | Hong Kong | $2.38B | -33% | +15% | 7% | 9.8× | -10.3% | +36.2% |
| 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% |
| 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% |
| 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% |
| Sonos SONO | United States | $1.94B | +9% | +6% | 6% | 149.2× | 17.3% | +1.7% |
| Joyoung 002242.SZ | China | $2.87B | +131% | -7% | -1% | 159.7× | n/a | n/a |
| 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% |
| Sichuan Jiuzhou Electric 000801.SZ | China | $1.58B | -19% | +20% | 3% | 45.1× | n/a | n/a |
| Seb SK.PA | France | $3.55B | +8% | -1% | 8% | 12.1× | -0.8% | +3.3% |
| 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 |