Consumer Cyclical · Leisure
Price
$2.12
Market Cap
$229.9M
Employees
714
Beta
-0.51
Avg Volume
125,246
CEO
Peng Li
Business Description
Here Group Limited designs and sells pop toys in China. It offers collectible pop toys, such as plush toys and figures under HERE brand. The company was formerly known as QuantaSing Group Limited and change its name to Here Group Limited in November 2025. Here Group Limited was founded in 2019 and is headquartered in Beijing, the People’s Republic of China.
Business History
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
CALCStock Price / EPS (Diluted)
0.32
Stock Price: $2.12
EPS (Diluted): 6.67
EPS (Diluted): 6.67
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
3.41
Stock Price: $2.12
Total Equity: $809.00M
Shares: 55,065,414
Total Equity: $809.00M
Shares: 55,065,414
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
4.11
Market Cap: $229.92M
Total Debt: $11.10M
Cash: $830.16M
EBITDA: $478.04M
Total Debt: $11.10M
Cash: $830.16M
EBITDA: $478.04M
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
$2.0B
Market Cap: $229.92M
Total Debt: $11.10M
Cash: $830.16M
Total Debt: $11.10M
Cash: $830.16M
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
81.5%
Gross Profit: $2.22B
Revenue: $2.73B
Revenue: $2.73B
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
14.6%
Operating Income: $396.90M
Revenue: $2.73B
Revenue: $2.73B
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
13.2%
Net Income: $358.73M
Revenue: $2.73B
Revenue: $2.73B
ROE (Profit from shareholder equity)
CALCNet Income / Total Equity
44.3%
Net Income: $358.73M
Total Equity: $809.00M
Total Equity: $809.00M
ROIC (Profit from all invested capital)
CALCNOPAT / Invested Capital
-2,995.8%
Operating Income: $396.90M
Tax Rate: 24.1%
Equity: $809.00M
Total Debt: $11.10M
Cash: $830.16M
Tax Rate: 24.1%
Equity: $809.00M
Total Debt: $11.10M
Cash: $830.16M
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
2.14
Current Assets: $1.31B
Current Liabilities: $614.01M
Current Liabilities: $614.01M
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
0.01
Short-Term Debt: $11.10M
Long-Term Debt: $0.00
Total Debt: $11.10M
Total Equity: $809.00M
Long-Term Debt: $0.00
Total Debt: $11.10M
Total Equity: $809.00M
Rev/Share (Top-line per share)
CALCRevenue / Shares Outstanding
$49.50
Revenue: $2.73B
Shares: 55,065,414
Shares: 55,065,414
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$14.69
Total Equity: $809.00M
Shares: 55,065,414
Shares: 55,065,414
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$0.51
Operating CF: $28.25M
CapEx: -$429,047
Shares: 55,065,414
CapEx: -$429,047
Shares: 55,065,414
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
0.4%
Last Dividend: N/A
Stock Price: $2.12
Stock Price: $2.12
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: $358.73M
Net Income: $358.73M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares HERE against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jun 22, 2026 2:36am (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $1.8B | $2.9B | $3.1B | $3.8B | $2.7B |
| Cost of Revenue | $178.9M | $408.8M | $391.5M | $550.3M | $503.7M |
| Gross Profit | $1.6B | $2.5B | $2.7B | $3.2B | $2.2B |
| Operating Expenses | $1.9B | $2.7B | $2.8B | $2.9B | $1.8B |
| Operating Income | -$330.5M | -$235.4M | -$113.6M | $377.4M | $396.9M |
| Net Income | -$316.0M | -$233.4M | -$108.5M | $385.5M | $358.7M |
| EBITDA | -$307.6M | -$204.5M | -$83.3M | $392.4M | $478.0M |
| EPS | $-9.64 | $-4.70 | $-2.37 | $7.02 | $6.67 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jun 22, 2026 2:36am (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $25.1M | $266.4M | $764.3M | $779.9M | $830.2M |
| Total Current Assets | $274.9M | $564.0M | $1.1B | $1.3B | $1.3B |
| Total Assets | $330.2M | $603.5M | $1.2B | $1.4B | $1.7B |
| Current Liabilities | $573.3M | $713.2M | $944.8M | $869.6M | $614.0M |
| Long-Term Debt | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $609.7M | $1.4B | $997.6M | $909.5M | $728.6M |
| Total Equity | -$279.5M | -$125.2M | $223.7M | $516.5M | $809.0M |
| Retained Earnings | $0 | -$861.2M | -$969.7M | -$584.2M | -$31.5M |
Cash Flow (Annual)
Last updated: Jun 22, 2026 2:36am (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | $79.4M | $272.6M | $235.6M | $282.7M | $28.2M |
| Capital Expenditure | -$35.6M | -$4.6M | -$5.8M | -$3.6M | $-429,047 |
| Free Cash Flow | $43.8M | $268.1M | $229.9M | $279.1M | $27.8M |
| Acquisitions (net) | $0 | $14.1M | $2.0M | -$2.0M | -$141.8M |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | $0 | $0 | $0 | -$130.4M | -$3.6M |
| Net Change in Cash | -$4.0M | $241.3M | $497.9M | $15.8M | $11.4M |
Analyst Estimates (Annual)
Last updated: Jun 26, 2026 11:20pm (9h ago)| Metric | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|
| Revenue |
$371.2M $327.9M – $400.6M
|
$112.8M $108.7M – $115.3M
|
$150.6M $125.6M – $167.7M
|
$193.1M $170.6M – $208.3M
|
| EBITDA |
$423,381 $374,000 – $456,850
|
$128,639 $124,008 – $131,555
|
$171,743 $143,251 – $191,235
|
$220,214 $194,529 – $237,621
|
| Net Income |
$29.0M $24.6M – $32.0M
|
$14.7M -$7.1M – $36.4M
|
$4.5M $3.2M – $5.8M
|
$7.4M $6.3M – $8.2M
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: Jun 22, 2026 2:36am (5d ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | +63.0% | +7.4% | +23.2% | -28.2% |
| Gross Profit Growth | +55.5% | +9.4% | +20.6% | -31.5% |
| Operating Income Growth | +28.8% | +51.7% | +432.2% | +5.2% |
| Net Income Growth | +26.1% | +53.5% | +455.2% | -7.0% |
| EBITDA Growth | +33.5% | +59.3% | +571.4% | +21.8% |
Dividend History (Last 20)
Last updated: Jun 22, 2026 2:36am (5d ago)| Date | Dividend | Declaration | Record | Payment |
|---|---|---|---|---|
| 2024-10-30 | $0.18 | 2024-10-30 | 2024-11-15 |
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for HERE — it's generated by the pipeline (
market-narrative step).
No community reviews yet for HERE.
Be the first — hit How to Contribute, have any AI review this page, and paste its take back here.
My Notes
personal — only you see this
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.352 · d1100787 · 2026-06-26 11:39:30