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Li Ning Co Ltd
HKEX:2331

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Li Ning Co Ltd
HKEX:2331
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Price: 20.22 HKD -1.08% Market Closed
Market Cap: HK$52.3B

P/S

1.5
Current
0%
Cheaper
vs 3-y average of 1.5

Price to Sales (P/S) ratio shows how much investors pay for each dollar of a company`s sales. It`s calculated by dividing the company`s market value by its total revenue.

P/S
1.5
=
Market Cap
HK$52.3B
/
Revenue
¥29.6B

Price to Sales (P/S) ratio shows how much investors pay for each dollar of a company`s sales. It`s calculated by dividing the company`s market value by its total revenue.

P/S
1.5
=
Market Cap
HK$52.3B
/
Revenue
¥29.6B

Valuation Scenarios

Li Ning Co Ltd is trading below its 3-year average

If P/S returns to its 3-Year Average (1.5), the stock would be worth HK$20.26 (0% upside from current price).

Statistics
Positive Scenarios
4/4
Maximum Downside
No Downside Scenarios
Maximum Upside
+93%
Average Upside
49%
Scenario P/S Value Implied Price Upside/Downside
Current Multiple 1.5 HK$20.22
0%
3-Year Average 1.5 HK$20.26
+0%
5-Year Average 3 HK$38.93
+93%
Industry Average 1.9 HK$25.16
+24%
Country Average 2.8 HK$36.42
+80%

Forward P/S
Today’s price vs future revenue

Today's Market Cap Revenue Forward P/S
HK$52.3B
/
Jan 2026
¥29.6B
=
1.5
Current
HK$52.3B
/
Dec 2026
¥32.4B
=
1.6
Forward
HK$52.3B
/
Dec 2027
¥34.5B
=
1.5
Forward
HK$52.3B
/
Dec 2028
¥36.9B
=
1.4
Forward
HK$52.3B
/
Dec 2029
¥38.1B
=
1.4
Forward
HK$52.3B
/
Dec 2030
¥40.2B
=
1.3
Forward

Forward P/S shows whether today’s P/S still looks high or low once future revenue are taken into account.

Peer Comparison

All Multiples
P/S
P/E
All Countries
Close
Market Cap P/S P/E
CN
Li Ning Co Ltd
HKEX:2331
52.3B HKD 1.5 15.5
FR
LVMH Moet Hennessy Louis Vuitton SE
PAR:MC
224.1B EUR 2.8 20.6
FR
Hermes International SCA
PAR:RMS
170.2B EUR 10.6 37.6
KR
SBW
KRX:102280
235.5T KRW 2 563.1 -117 637.1
CH
Compagnie Financiere Richemont SA
SIX:CFR
87.3B CHF 4.4 23.5
FR
EssilorLuxottica SA
PAR:EL
84B EUR 2.9 36.3
FR
Christian Dior SE
PAR:CDI
76.7B EUR 0.9 16.9
IN
Titan Company Ltd
NSE:TITAN
3.9T INR 5.1 81.6
FR
Kering SA
PAR:KER
28.5B EUR 1.9 396.2
DE
Adidas AG
XETRA:ADS
26.3B EUR 1.1 19.7
US
Tapestry Inc
NYSE:TPR
29.4B USD 3.9 55.7
P/E Multiple
Earnings Growth PEG
CN
Li Ning Co Ltd
HKEX:2331
Average P/E: 70.4
15.5
10%
1.5
FR
LVMH Moet Hennessy Louis Vuitton SE
PAR:MC
20.6
11%
1.9
FR
Hermes International SCA
PAR:RMS
37.6
12%
3.1
KR
SBW
KRX:102280
Negative Multiple: -117 637.1 N/A N/A
CH
Compagnie Financiere Richemont SA
SIX:CFR
23.5
16%
1.5
FR
EssilorLuxottica SA
PAR:EL
36.3
26%
1.4
FR
Christian Dior SE
PAR:CDI
16.9
N/A N/A
IN
Titan Company Ltd
NSE:TITAN
81.6
32%
2.6
FR
Kering SA
PAR:KER
396.2
186%
2.1
DE
Adidas AG
XETRA:ADS
19.7
23%
0.9
US
Tapestry Inc
NYSE:TPR
55.7
107%
0.5

Market Distribution

In line with most companies in China
Percentile
32st
Based on 7 736 companies
32st percentile
1.5
Low
0 — 1.5
Typical Range
1.5 — 5.4
High
5.4 —
Distribution Statistics
China
Min 0
30th Percentile 1.5
Median 2.8
70th Percentile 5.4
Max 5 034 353.9

Li Ning Co Ltd
Glance View

Nestled in the heart of China's bustling economy, Li Ning Co Ltd stands as a testament to the power of strategic branding and sports enthusiasm. Founded in 1990 by the Olympic gymnast Li Ning, the company has grown from a fledgling local sportswear producer to a robust player on the global stage. Li Ning's success story is studded with a blend of innovative design, savvy marketing campaigns, and a keen understanding of domestic and international consumer trends. The company's core operations revolve around designing, manufacturing, and retailing a range of sports apparel, footwear, equipment, and accessories, primarily aimed at capturing the spirit of modern athleticism. Its commitment to integrating technical and aesthetic aspects in its products has enabled it to carve a niche among young Chinese consumers who seek quality and style synonymous with global brands. The financial heartbeat of Li Ning Co Ltd pulses through its extensive network of retail stores and its broad push into e-commerce, which it has embraced wholeheartedly to reach digitally savvy consumers. Endorsements from top-tier athletes and collaborations with international designers have bolstered its brand image, aligning it with both sports performance and street fashion. By continuously innovating product lines and leveraging its strategic partnerships, Li Ning has successfully tapped into the dynamic sports culture, making its mark not only in local markets but also on international turf. This agile approach to market demands and consumer preferences underlines the company's robust revenue model and positions it as a formidable competitor in the ever-evolving global sportswear industry.

Intrinsic Value
28.12 HKD
Undervaluation 28%
Intrinsic Value
Price HK$20.22
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