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Bloks Group (0325) Fair Value & Analysis

Consumer Cyclical · HK · Market cap HK$10.3B

BG Bloks Group 0325 · HK
PriceHK$58.65
Fair ValueHK$48.40
Upside-17.5%
Quality69/100
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Healthy Growth
Highly profitable · 21.8% net margin
Low debt · generates free cash flow
Ranks above peers (9/13)
Wide moat 85/100
Evidence: High Range HK$37.60 – HK$58.11 Share as image

Fair value as of: Aug 2, 2026

From 24 valuation models · updated 9 days ago

Fair value updated Aug 2, 2026, revised from HK$48.77 to HK$48.40 (−0.8%) since Jul 1, 2026. Share price +17.5% over the past month.

A solid business, but screening 17% overvalued on our models.

What matters now

  • Solid but not exceptional quality (69/100) and above fair value, neither a clear bargain nor a standout compounder.
  • Our model range runs from HK$37.60 (bear) to HK$58.11 (bull), base HK$48.40. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 69/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (19 months)

HK$193.30 HK$40.28 Fair Value HK$48.40 Jan 2025 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 2, 2026.

How to read this chart

19‑month range HK$40.28 – HK$193.30 · fair‑value band HK$37.60 – HK$58.11 · the HK$58.65 price screens above the HK$48.40 fair value. Dashed = 300-day average. As of Aug 2, 2026.

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Analysis

Bloks Group (0325) currently trades at HK$58.65, while our model-based Fair Value estimate is HK$48.40, implying the stock looks roughly 17.5% overvalued today. The Quality Score stands at 69/100 (solid quality), in the Consumer Cyclical sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Bloks Group generated revenue of HK$2.9B at a net margin of 21.8%. Revenue grew 31.9% year over year. It earns a return on equity of 99.9%. The balance sheet holds a net cash position of HK$2.4B. Fundamentals as of Aug 2, 2026

Our scenario range runs from HK$37.60 (bear case) to HK$58.11 (bull case); at HK$58.65, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat. The share trades about 62% below its 52-week high and 50% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 2% fair-value upside, at -17%, 0325 screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF HK$44.81 HK$79.41 HK$136.11 80
Rev-Margin DCF HK$31.55 HK$46.04 HK$76.59 74
ROIC Compounder HK$34.20 HK$42.26 HK$51.79 72
All 24 models by family
DCF Models
FCF DCF HK$47.03 HK$68.45 HK$136.68 38
Owner Earnings HK$39.35 HK$77.21 HK$156.69 31
5Y Revenue Exit HK$29.64 HK$41.42 HK$65.85 39
5Y EBITDA Exit HK$38.85 HK$60.05 HK$101.58 41
5Y P/E Exit HK$43.92 HK$85.39 HK$141.76 38
10Y Revenue Exit HK$34.50 HK$57.64 HK$70.32 36
10Y EBITDA Exit HK$41.77 HK$77.48 HK$138.58 37
10Y P/E Exit HK$45.46 HK$88.39 HK$158.64 35
Earnings-Based
Graham-Dodd HK$16.96 HK$118.31 HK$166.03 54
Lynch FV HK$61.12 HK$87.32 HK$113.51 50
PEG = 1.0 HK$61.12 HK$87.32 HK$113.51 46
EPV HK$31.49 HK$35.13 HK$38.31 59
Multiples
P/E Multiple HK$31.81 HK$42.41 HK$53.01 63
P/S Multiple HK$12.90 HK$17.20 HK$21.50 58
P/B Multiple HK$26.10 HK$34.80 HK$43.49 55
EV/EBIT HK$36.40 HK$45.31 HK$54.22 53
EV/EBITDA HK$34.77 HK$43.14 HK$51.51 54
EV/Revenue HK$21.71 HK$26.87 HK$32.03 43
Asset-Based
NCAV (Graham) HK$5.80 HK$7.77 HK$11.60 50
Growth DCF
Growth DCF HK$44.81 HK$79.41 HK$136.11 80
Rev-Margin DCF HK$31.55 HK$46.04 HK$76.59 74
Economic Profit
Residual Income HK$16.80 HK$22.47 HK$109.48 61
ROIC Compounder HK$34.20 HK$42.26 HK$51.79 72
Growth Earnings
Growth-Adj P/E HK$75.20 HK$107.42 HK$139.65 68

Widest divergence: Growth Earnings (HK$107.42) versus Asset-Based (HK$7.77). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) HK$2.9B
Revenue growth (YoY) +31.9%
Net margin 21.8%
Return on equity 99.9%
Free cash flow HK$549M FY2025
P/E ratio 14.1
More key figures
Operating margin 20.3%
EPS (TTM) HK$1.20
Net cash HK$2.4B FY2025

Figures from reported company fundamentals · as of Aug 2, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 69/100

Of which business quality 69 · Market factors (momentum, volatility) 11

Profitability 71
Margins and returns on capital today
Quality Growth 60
Are margins and returns improving?
Cashflow 72
Earnings quality: real cash, not paper profit
Fin. Strength 100
Balance sheet, leverage, solvency risk
Investment 22
Disciplined investing over empire-building
Low Volatility 2
Calm price path (market factor)
Momentum 18
Price trend over the last 3–12 months (market factor)
52W Momentum 9
Distance to the 52-week high (market factor)
Net Issuance 64
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Bloks Group Limited, together with its subsidiaries, engages in the design, development, and sale of toy products in Mainland China, the rest of Asia, the Americas, and internationally. The company offers assembly character toys, animal-themed assembly toys, assembly vehicle toys, and brick-based toys.

Full company description

Bloks Group Limited, together with its subsidiaries, engages in the design, development, and sale of toy products in Mainland China, the rest of Asia, the Americas, and internationally. The company offers assembly character toys, animal-themed assembly toys, assembly vehicle toys, and brick-based toys. It sells its products through a multi-channel sales network, which consists of offline sales channels, such as distributors and consignment sales; and online sales channels, including various e-commerce platforms. Bloks Group Limited was founded in 2014 and is headquartered in Shanghai, China.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Bloks Group reported revenue of HK$2.8B in FY2025 versus HK$330M in FY2021, a compound +71.3%/yr. Reported net income was HK$617M in FY2025.

Growth Quality 100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
HK$2.8B
Latest YoY
+26.6%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+105.8%
Revenue +71.3%/yr
FY21 HK$330M
FY22 HK$326M
FY23 HK$877M
FY24 HK$2.2B
FY25 HK$2.8B
Net income
FY21 −HK$503M
FY22 −HK$420M
FY23 −HK$206M
FY24 −HK$401M
FY25 HK$617M

0325 screens 17% overvalued. Compare with ANTA Sports Products Limited →

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Cite: Fair Value Calculator (2026). "Bloks Group Fair Value". https://www.fairvalue-calculator.com/stock/0325

Peer Group

Leisure · 190 stocks

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.

Quality Score 69 · Top 25%
Fair Value upside −18% · Below median
Return on equity (TTM) 100% · Top 25%
Return on assets 13% · Top 25%
Net margin (TTM) 22% · Top 25%
Operating margin (TTM) 20% · Top 25%
Revenue growth 32% · Top 25%

Valuation Multiples vs Leisure median · lower = cheaper

P/E (TTM) 14.1× · Cheaper than median
P/B 3.58× · Pricier than 75% of peers
P/S (TTM) 3.53× · Pricier than 75% of peers
P/FCF 2.4× · Cheaper than median
EV/EBITDA 10.1× · Pricier than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 10 · sector 14
FUTURE 100 · sector 18
PAST 100 · sector 19
HEALTH 100 · sector 94
DIVIDEND 0 · sector 51

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Leisure stocks, each showing price versus our Fair Value estimate (as of Aug 2, 2026).

Stock Price Fair Value vs Fair Value
ANTA Sports Products Limited 2020 HK$74.15 HK$119.29 +61%
Pop Mart International Group 9992 HK$160.20 HK$227.30 +42%
Amer Sports, Inc AS $36.44 $16.16 -56%
Hasbro, Inc HAS $81.55 $83.38 +2%
Life Time Group LTH $42.15 $16.15 -62%
Acushnet Holdings GOLF $114.78 $37.79 -67%
Li Ning Company 2331 HK$14.80 HK$29.26 +98%
Benefit Systems S.A BFT 5,255 PLN 3,714 PLN -29%
Ninebot Limited 689009 ¥37.82 ¥39.17 +4%
Asmodee Group ASMDEEB kr 145.70 kr 41.90 -71%

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Frequently asked questions

Is Bloks Group (0325) overvalued or undervalued?
As of Aug 2, 2026, our model estimates a fair value of HK$48.40 versus a price of HK$58.65, about −17% (overvalued).
What is the fair value of 0325?
Our model-based fair value for Bloks Group is HK$48.40 (as of Aug 2, 2026), built from audited fundamentals. The current price is HK$58.65.
What is the quality score of 0325?
Bloks Group has a Quality Score of 69/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Bloks Group (0325)?
Bloks Group reported trailing-twelve-month revenue of about HK$2.9B (latest available figure, as of Aug 2, 2026).
What is the net profit margin of 0325?
The net profit margin of Bloks Group is about 21.8%, meaning it keeps roughly 21.8% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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