Keep vs ANTA Sports Products: Fair Value & Quality
Both stocks run through our valuation models. Here is how Keep (3650) and ANTA Sports Products (2020) compare, as of Aug 17, 2026.
As of Aug 17, 2026, Fair Value Calculator sees ANTA Sports Products as the more attractively valued of the two: Keep trades at HK$2.01 versus a fair value of HK$1.70 (-15%), while ANTA Sports Products trades at HK$71.95 versus HK$120 (+67%).
Keep
3650.HK · HKD · Information Technology
-15%
upside to fair value
overvalued
PriceHK$2.01
Fair ValueHK$1.70
Quality50/100
ANTA Sports Products
2020.HK · HKD · Consumer Discretionary
+67%
upside to fair value
undervalued
PriceHK$71.95
Fair ValueHK$120
Quality64/100
Head-to-head numbers
Green value = the better side for that row (for valuation multiples: lower = cheaper).
KeepANTA Sports Products
Valuation
—P/E (TTM)13.4×
0.08×P/S (TTM)2.56×
0.10×P/B3.20×
—EV/EBITDA10.0×
—PEG1.74×
—Dividend yield3.0%
—Dividend per shareHK$2.20
Profitability
-4%Net margin17%
-7%Operating margin21%
-5%Return on equity23%
-4%Return on assets10%
Growth
-21%Revenue growth (YoY)12%
-9.5%Avg. growth/yr (3Y)14.3%
—Avg. growth/yr (5Y)17.7%
Balance & size
—Debt / equity0.18×
$135MMarket cap$26B
weakGrowth qualityhealthy
ANTA Sports Products leads: 2 to 6 metric wins.
Dash = not meaningfully computable, for example with negative equity.
Quality in detail
The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.
Keepof which business quality 50 · market factors 20ANTA Sports Productsof which business quality 66 · market factors 40
ProfitabilityMargins and returns on capital today
32
66
Quality GrowthAre margins and returns improving?
50
38
CashflowEarnings quality: real cash, not paper profit
InvestmentDisciplined investing over empire-building
100
31
Low VolatilityCalm price path (market factor)
62
83
MomentumPrice trend over the last 3–12 months (market factor)
3
28
52W MomentumDistance to the 52-week high (market factor)
2
13
Net IssuanceBuybacks instead of dilution
89
75
What the models say
The median fair value (base case) per model family, each in the currency of its trading venue. Green = above the current price, red = below.
Keep
Asset-BasedHK$1.82
1 of 1 models see the stock below the current price.
ANTA Sports Products
DCF ModelsHK$184
Earnings-BasedHK$104
Dividend DiscountHK$44.23
MultiplesHK$95.64
Asset-BasedHK$15.51
Growth DCFHK$147
Economic ProfitHK$68.45
Growth EarningsHK$143
7 of 26 models see the stock below the current price.
Scenario ranges
From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.
Keep
Bear HK$1.12Fair Value HK$1.70Bull HK$2.13
HK$2.01 = current price (white tick)
ANTA Sports Products
Bear HK$88.01Fair Value HK$120Bull HK$198
HK$71.95 = current price (white tick)
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Ranked within their sector
Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.
Keep · Information Technology
Quality score50 · below median
Fair value upside-15% · above median
ANTA Sports Products · Consumer Discretionary
Quality score64 · Top 25%
Fair value upside+67% · Top 25%
Bottom line
As of Aug 17, 2026, Fair Value Calculator sees ANTA Sports Products as the more attractively valued of the two: Keep trades at HK$2.01 versus a fair value of HK$1.70 (-15%), while ANTA Sports Products trades at HK$71.95 versus HK$120 (+67%).
ANTA Sports Products has the higher quality score (64/100).
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A model-based valuation snapshot from 21 models. Values change with price and fundamentals; the date shown above applies.
