Ninebot Ltd (689009) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Ninebot Ltd stock ¥52.88, price ¥34.77, upside +52.1%, quality 70 out of 100. Rating: strongly undervalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Ninebot Ltd
689009 · SHGThe stock costs 34% less than our calculation considers fair.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 4, 2026.
How to read this chart
60‑month range ¥21.93 – ¥83.61 · fair‑value band ¥30.39 – ¥72.15 · the ¥34.77 price screens below the ¥52.88 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 4, 2026.
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Company profile
Ninebot Limited engages in the design, research and development, production, sale, and servicing of short-distance transportation and robot products worldwide. Its products include electric vehicles, scooter, balance bike, all-terrain vehicle, service robots, and E-bike.
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The company also engages in repair of bicycles and tricycles; import and export trade, wholesale, sales, and research and development; provision of intelligent equipment services, transportation vehicles, robots, and related accessories for small-scale transportation; finance; promotion, sales of goods and provision of after-sales service; car sales; Computer software technology development and technology transfer.
In addition; it develops, research, process, and sales of motorcycles, electric two-wheeled motorcycles, electric three-wheeled motorcycles, electric bicycles and their parts, batteries, chargers and their parts, technology transfer of off-highway recreational vehicles and spare parts, and all-terrain vehicles and accessories; development of optoelectronic integration technology and computer technology, consulting, transfer, and industrial automatic control system devices, and auxiliary equipment, and communication equipment; intelligent control system integration; information system integration services; and investment management.
The company was founded in 1999 and is based in Beijing, China.
Stock analysis
Ninebot Ltd (689009) currently trades at ¥34.77, while our model-based Fair Value estimate is ¥52.88, implying the stock looks roughly 34% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of ¥56.67 per share, and 14 of the 26 models we run sit above the ¥34.77 price.
Bear case: the Dividend Discount group reads lowest at ¥12.91, and 12 of the 26 models stay below the price. Data coverage for this calculation is medium.
Scenario range: ¥30.39 (bear) to ¥72.15 (bull), the price of ¥34.77 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 70/100 (solid quality), in the Consumer Cyclical sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Ninebot Ltd reported revenue of 21.3B CNY in FY2025 versus 9.1B CNY in FY2021, a compound +23.5%/yr. Reported net income was 1.8B CNY in FY2025, compounding +43.9%/yr from FY2021.
Key figures
Market cap 51.2B CNY (≈ $7.7B) · P/E ratio 19.6 · P/S ratio 1.01 · EPS (TTM) ¥1.77 · Dividend yield 4.8% · Net margin 5.3% · Return on equity 18.8% · Return on assets (EBIT) 6.5% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 59 out of 100 (medium confidence).
What moves the price
The share trades about 40% below its 52-week high and 8% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at 10% fair-value upside, at 52%, 689009 screens cheaper than that median.
Fair Value models
All 26 models by family
Quality Score breakdown
It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.
Revenue & earnings trend
Watch 689009, get fair value alerts →
Compare Ninebot Ltd with another stock
Price, fair value, quality and upside side by side.
Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Leisure · 169 stocks
Valuation Multiplesvs Leisure median · lower = cheaper
Strength profile in five axes (Snowflake)
Context: sector, industry, market
- Is the Consumer Discretionary sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Dividend yield by industry
- EV/EBITDA by industry
- PEG screener for stocks with fair value
- Undervalued stocks: Chinese Stocks
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Leisure stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value | Compare |
|---|---|---|---|---|
| Li Ning Company 2331 | HK$15.48 | HK$29.46 | +90% | vs 689009 |
| Pop Mart International Group 9992 | HK$141.90 | HK$207.44 | +46% | vs 689009 |
| Mattel, Inc MAT | $15.35 | $22.25 | +45% | vs 689009 |
| YETI Holdings YETI | $44.97 | $54.92 | +22% | vs 689009 |
| Planet Fitness, Inc PLNT | $60.31 | $66.34 | +10% | vs 689009 |
| Fluidra, S.A FDR | €19.32 | €21.25 | +10% | vs 689009 |
| Amer Sports, Inc AS | $31.47 | $19.17 | −39% | vs 689009 |
| Acushnet Holdings GOLF | $80.74 | $44.21 | −45% | vs 689009 |
| Life Time Group LTH | $47.12 | $16.00 | −66% | vs 689009 |
| Hasbro, Inc HAS | $118.91 | $32.71 | −72% | vs 689009 |
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Frequently asked questions
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Key figures of Ninebot Ltd
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