Here Group Limited

HERE

Leisure · Consumer Cyclical

Exchange

NASDAQ

Winston Score

Winston is serious

Below-average fundamentals — multiple weak pillars.

Data as of Aug 23, 2026 · filings through Mar 31, 2026

How the score breaks down

Quality

Weak

Growth

Weak

Cash Flow

Strong

Stability

Exceptional

Valuation

Mixed

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Winston Score History

The full picture

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.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-71.1% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-182.9% YoY

YoY Growth Rate

Earnings declining

Insider Activity

43.5%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$694M cash & investments

Quarterly Free Cash Flow

Company generates more cash than it spends — no dilution risk from fundraising

Revenue declining

Here Group Limited's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

34.5%

Modest — 34.5% gross margin

Profit after running costs

Operating Margin

-26.7%

Losing money on operations — -26.7%

Return on the money invested

ROCE

1.6%

Weak — 1.6% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales growth

Sales YoY

-65.1%

Shrinking sales (-65.1% YoY)

Profit growth

EPS YoY

-94.7%

Earnings shrinking (-94.7% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash

Cash Conversion

67%

Modest — 67% of profit becomes cash

Spare cash per sale

FCF Margin

21.2%

Converts sales into free cash efficiently (21.2%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

What it owes vs what it owns

Debt / Equity

0.02

Conservative — low debt load (0.02)

Covers its interest

Interest Cover

100.00x

—

Comfortably covers interest (100.0x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

28.3x

no trend

Growth-priced — P/E 28.3

P/E above the market average. People are paying up for expected growth.

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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