Here Group Limited American
Here Group Limited American Depositary Shares is the U.S.-traded ADR line for Here Group Limited, a Beijing-based consumer company focused on collectible pop toys and related merchandise. Through its HERE brand, the company designs and sells plush toys, figures, blind boxes, and other character-driven products that appeal to collectors and pop-culture consumers. Its business centers on branded toy creation, product design, and merchandising, with offerings positioned in the leisure and consumer discretionary space. The ADS structure gives U.S. investors indirect exposure to the company’s ordinary shares, with each ADS representing three ordinary shares. Here Group Limited operates as a niche player in China’s branded collectibles market, where storytelling, design, and product variety are central to its commercial identity.
$1.48
-$0.06 (-4.22%)
Live
14.56% operating margin is respectable but not wide. ROIC at 28.82%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.
Revenue declined 27.1% YoY. The question is whether this is cyclical or a structural shift.
At 33x earnings, the current multiple leaves limited room for execution misses or growth deceleration. Free cash flow declined 34% versus the prior year, cash generation momentum has weakened.
32.8x earnings, 64.4x FCF. Not cheap, the quality is already reflected in the price. Upside from here requires either margin expansion or growth re-acceleration, not just continuation.
Price History
Valuation & Multiples
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
¥380M
▼ -27.1% YoY
Net Income (TTM)
¥50M
▼ -5.6% YoY
Op. Margin
14.56%
▲ +4.6pp YoY
ROIC
28.82%
▼ -7.5pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
¥25M
▼ -34.3% YoY
Op. Cash Flow (TTM)
¥26M
▼ -34.0% YoY
Net Debt
-¥117M
Net Cash Position
Cash & Equiv.
¥142M
Continue Research
Is Here Group Limited American (HERE) overvalued?
At a P/E of 32.8 and a price-to-free-cash-flow of 64.4, Here Group Limited American (HERE) trades below a two-stage DCF intrinsic value of about CNY 3.36 per share, so at CNY 1.48 the stock looks undervalued (127.7% below estimated intrinsic value). A high multiple is not the same as overvalued: fast-growing, high-quality businesses can deserve a premium. See the general approach in how to tell if a stock is overvalued.
On quality, Here Group Limited American scores 45/100 on Intrinsiqq's quality scorecard (a mixed business on these measures), weighing growth, margins, returns on capital, share count, and balance-sheet strength. It currently yields about 0.7%; see dividend safety for coverage and history. All figures are computed from company filings; read the full methodology, or see how the market compares in our US profitability statistics. This is analysis, not investment advice.
Frequently asked
What is Here Group Limited American's fair value?+
Intrinsiqq's two-stage DCF estimates an intrinsic value of about CNY 3.36 per share for HERE, projecting its recent free cash flow forward with a growth rate that fades toward a long-run rate and discounting it back to today. Applying a 25% margin of safety gives a more conservative fair-value entry around CNY 2.52. At today's CNY 1.48, that puts the stock about 127.7% below estimated intrinsic value. The result is sensitive to the growth and discount-rate inputs, so it is best to run conservative, base and optimistic cases. You can adjust all of them yourself with the sliders on the DCF tab.
Is Here Group Limited American a high-quality business?+
Here Group Limited American scores 45 out of 100 on Intrinsiqq's quality score, a weighted blend of 8 metrics each scored 0 to 100, which makes it a mixed business on these measures. Recent fundamentals include a 14.6% operating margin and a 28.8% return on invested capital. The score weighs revenue and free-cash-flow growth, operating margins, return on invested capital, share-count change, and balance-sheet strength, all computed from company filings, not opinion. Because valuation only means something relative to quality, the full metric-by-metric breakdown is on the quality scorecard.
Does Here Group Limited American (HERE) pay a dividend, and how much?+
Yes, Here Group Limited American pays a regular dividend of about CNY 0.07 per share per year (typically in quarterly installments), a yield of roughly 0.7% at the current price. That is a payout ratio of about 21.8% of earnings, so the dividend is amply covered by earnings. A low headline yield is not the same as a weak dividend: what matters is how well earnings and free cash flow cover the payout and whether it is growing, not the percentage alone. For HERE's full payout history, growth streak and dividend-safety score, see the dividends tab.
Is Here Group Limited American a good stock to buy right now?+
That depends on valuation and quality together, not either alone. HERE currently trades below its estimated intrinsic value and scores 45/100 on quality (mixed). It also yields about 0.7%. A cheap price is only a bargain if the business is durable, and a premium can be justified by genuine quality, so the two questions, "is it cheap?" and "is it good?", only make sense side by side. Read the valuation against the quality scorecard, run the DCF on your own assumptions, and decide for yourself. This is analysis from company filings, not investment advice.
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Data sourced from company filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
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