Short answer
Both are portable players, $1799 against $1200.
The FiiO M27 reaches 100 dB on 567 of the 567 models here, the Lotoo PAW 6000 on 565.
| Specification | FiiO M27 | Lotoo PAW 6000 |
|---|---|---|
| Power into 32Ω | 1.8 W | 300 mW |
| Power into 150Ω | 391 mW | 64 mW |
| Power into 300Ω | 200 mW | 32 mW |
| Power into 600Ω | 100 mW | 16 mW |
| Output impedance | 0.5 Ω | not published |
| Output noise | 3.9 µV | 0.975 µV |
| Price | $1799 | $1200 |
| Headphones it reaches 100 dB on out of 567 | 567 | 565 |
Not published means the maker leaves it out, so that axis cannot be compared.
| Balanced | FiiO M27 | Lotoo PAW 6000 |
|---|---|---|
| Socket | 4.4mm | 4.4mm |
| Power into 32Ω | 5.0 W | 300 mW |
| Power into 300Ω | 805 mW | 32 mW derived |
| Output impedance | 0.6 Ω | not published |
| Output noise | 7.6 µV | 0.775 µV |
| Headphones it reaches 100 dB on out of 567 | 567 | 565 |
Through the balanced sockets the FiiO M27 reaches 100 dB on 567 of the 567 models here and the Lotoo PAW 6000 on 565. Derived figures are worked out from the loads the maker did publish.
| Load | FiiO M27 | Lotoo PAW 6000 |
|---|---|---|
| 32 Ω | Published | Published |
| 150 Ω | Derived | Derived |
| 300 Ω | Published | Derived |
| 600 Ω | Derived | Derived |
Both makers publish a power rating. FiiO M27 publishes at 32 Ω and at 300 Ω; Lotoo PAW 6000 at 32 Ω. The other rows are worked out from those.
So the two columns are not equally firm row by row: at 300 Ω only the FiiO M27 figure is the maker’s own. On those rows the derived number is the one to doubt first.
2 headphones reach 100 dB on the FiiO M27 but not on the Lotoo PAW 6000 — Moondrop PARA, Symphonium Titan.
35 headphones stay below the audible-hiss threshold on the Lotoo PAW 6000 but cross it on the FiiO M27 (64 Audio Fourte, AFUL Performer 8, Audio-Technica ATH-CKS1100, 32 more).
565 of the 567 models here reach 100 dB on both.
Headroom is at a 100 dB SPL peak.
The widest gap on the list is the Shure SE846: FiiO M27 has +46 dB of headroom there against +33 dB. 12 dB is about 18 times the power, which matters for peaks rather than for how loud the music sits.
Hiss below about 20 dB SPL is inaudible in a quiet room.
| Headphone | Impedance | Needs | FiiO M27 headroom | Lotoo PAW 6000 headroom | FiiO M27 hiss | Lotoo PAW 6000 hiss |
|---|---|---|---|---|---|---|
| Shure SE846 | 9 Ω | 0.04 mW | +46 dB | +33 dB | 26 dB | 14 dB |
| Campfire Audio Andromeda 2020 | 9 Ω | 4.0 mW | +26 dB | +13 dB | 6 dB | -6 dB |
| Audeze LCD-2 Classic | 70 Ω | 0.79 mW | +30 dB | +22 dB | 4 dB | -8 dB |
| Beyerdynamic DT 1990 Pro (250Ω) | 250 Ω | 0.63 mW | +26 dB | +18 dB | -0 dB | -12 dB |
| HiFiMAN HE400se | 25 Ω | 7.9 mW | +24 dB | +15 dB | -1 dB | -13 dB |
| Audio-Technica ATH-R70X | 470 Ω | 1.6 mW | +19 dB | +11 dB | -7 dB | -19 dB |
| Sennheiser HD 600 | 300 Ω | 6.6 mW | +15 dB | +7 dB | -11 dB | -23 dB |
| HiFiMAN Susvara | 60 Ω | 50 mW | +13 dB | +5 dB | -13 dB | -25 dB |
The FiiO M27 costs $599 more than the Lotoo PAW 6000. Out of the 567 models here, that difference buys 2 more models driven to 100 dB.
It does not run one way only: the cheaper Lotoo PAW 6000 keeps 35 models below the audible-hiss threshold that the FiiO M27 does not, which is the part worth checking against your own headphones before paying the difference.
Only published figures count here; blank axes are counted separately.
Each in full: FiiO M27 and Lotoo PAW 6000.