YGM Trading Ltd (0375) fair value: what the stock is really worth
As of Nov 13, 2026: fair value (intrinsic value) of YGM Trading Ltd stock HK$2.43, price HK$1.06, upside +129.2%, quality 61 out of 100. Rating: strongly undervalued. Calculated from audited financials with 10 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 10, 2026.
How to read this chart
60‑month range HK$0.6775 – HK$1.67 · fair‑value band HK$2.02 – HK$2.89 · the HK$1.06 price screens below the HK$2.43 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 10, 2026.
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YGM Trading Limited, an investment holding company, engages in the wholesale and retail of garments in Hong Kong, Taiwan, Mainland China, the United Kingdom, and internationally.
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It operates through four segments: Sales of Garments, Licensing of Trademarks, Printing and Related Services, and Property Rental segments. The Sales of Garments segment offers wholesaling and retailing of garments.
The Licensing of trademarks segment provides management and licensing of trademarks for royalty income. The Printing and related services segment offers the provision of security printing and sale of printed products.
The Property rental segment provides leasing of properties to generate rental income.
The company offers shirts, blouses, trousers and casual pants, blousons, polo shirts, T-shirts, etc.; hats for men, women, and children; golf and ski wear; perfume, watches, eyewear, leather goods, and home fashion products; and suits and casual wears.
It is also involved in the provision of security and general business printing services; the trading of printing products; and the development of authentication and electronic forgery detection solutions.
The company offers its products under the Ashworth, Black Clover, Guy Laroche, J.Lindeberg, and Michel Rene brand names. It serves customers through a distribution network of points of sales. YGM Trading Limited was founded in 1949 and is headquartered in San Po Kong, Hong Kong.
Stock analysis
YGM Trading Ltd (0375) currently trades at HK$1.06, while our model-based Fair Value estimate is HK$2.43, implying the stock looks roughly 56% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of HK$2.78 per share, and 9 of the 10 models we run sit above the HK$1.06 price.
Bear case: the Asset-Based group reads lowest at HK$0.2600, and 1 of the 10 models stay below the price. Data coverage for this calculation is low.
Scenario range: HK$2.02 (bear) to HK$2.89 (bull), the price of HK$1.06 sits below 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 61/100 (solid quality), in the Consumer Cyclical sector.
Mixed Growth: Spin-off in 2020: revenue and profit before it include the divested business. Growth is measured afresh from 2020.
YGM Trading Ltd reported revenue of HK$161M in FY2026 versus HK$211M in FY2022, a compound −6.6%/yr. Reported net income was −HK$37.6M in FY2026.
Key figures
Market cap HK$176M (≈ $22.4M) Micro · P/S ratio 1.14 · EPS (TTM) HK$−0.0100 · Dividend yield 9.4% · Net margin −23.3% · Return on equity −9.8% · Return on assets (EBIT) −1.5% (5-year average) · Operating margin 2.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 14 out of 100 (low confidence).
What moves the price
The share trades about 13% below its 52-week high and 20% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −20% fair-value upside, at 129%, 0375 screens cheaper than that median.
Fair Value models
BearHK$2.02Fair Value HK$2.43BullHK$2.89
Price HK$1.06 · Upside +129.2%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.55/100
Spin-off in 2020: revenue and profit before it include the divested business. Growth is measured afresh from 2020.
Revenue growth 1 year
−9.4%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−9.0%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−5.7%
Start year 2021 (pandemic)
Revenue growth 6 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−8.2%
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Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−3.2% (2021) → −3.4% (2026)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2026 is a loss year, no rate is defined from a loss
not computed
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−27.8%
The company could shrink this much every year for the next five years and today's price would still be justified.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Hong Kong: IMF forecast 2.1% a year to 2030, 1.8% from 2016 to 2025) that is about −29.3% a year for the price.
Price, fair value, quality and upside side by side.
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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.Apparel Retail · 107 stocks
Beats the industry median on 6/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score61 · Above median
Fair Value upside+129.2% · Top 25%
Profitability
Return on assets−8.1% · Bottom 25%
Net margin (12 months)−23.3% · Bottom 25%
Operating margin (12 months)2.1% · Below median
Growth and dividend
Revenue growth (quarter YoY)−7.8% · Bottom 25%
Dividend yield (12 months)9.4% · Top 25%
Balance sheet
Debt / equity0.00× · Below median
Valuation Multiplesvs Apparel Retail median · lower = cheaper
P/B0.48× · Cheapest 25%
P/S (12 months)1.09× · Pricier than median
Price / free cash flow (fiscal year)5.4× · Cheaper than median
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Is YGM Trading Ltd (0375) overvalued or undervalued?
As of Nov 10, 2026, our model estimates a fair value of HK$2.43 versus a price of HK$1.06, about +129% upside (undervalued).
What is the fair value of 0375?
Our model-based fair value for YGM Trading Ltd is HK$2.43 (as of Nov 10, 2026), built from audited fundamentals. The current price: HK$1.06.
What is the quality score of 0375?
YGM Trading Ltd has a Quality Score of 61/100. 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 price target for YGM Trading Ltd (0375)?
Our model-based price target is the fair value of HK$2.43 (as of Nov 10, 2026) from 10 valuation models. Cautious scenario HK$2.02, optimistic scenario HK$2.89. It is a calculation from audited fundamentals, not an analyst target.
What is the YGM Trading Ltd stock forecast for 2026?
Our models put fair value at HK$2.43, about +129% upside versus a price of HK$1.06 (undervalued). Cautious scenario HK$2.02, optimistic scenario HK$2.89. The calculation is refreshed regularly with new filings.
What is the revenue of YGM Trading Ltd (0375)?
YGM Trading Ltd reported trailing-twelve-month revenue of about HK$161M (latest available figure, as of Nov 10, 2026).
Does YGM Trading Ltd pay a dividend?
YGM Trading Ltd currently shows a dividend yield of 9.43% relative to its recent price (as of Nov 10, 2026).
How much is the dividend of YGM Trading Ltd (0375) and when is the ex-dividend date?
YGM Trading Ltd pays a dividend of HK$0.1 per share a year, a dividend yield of 9.4%. The last ex-dividend date was Sep 24, 2026. A dividend has been paid every year since 2021. Free cash flow covers the dividend 1.95 times. Our assessment: Cash covered. The dividend is fully funded by free cash flow. The payout ratio on earnings is not available for this company.
What growth is priced into YGM Trading Ltd (0375)?
Today's price is already fair in a discounted-cash-flow model if free cash flow at YGM Trading Ltd shrinks by 27.8 % per year for five years (discount rate 9.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue fell 5.7 % per year. As of Nov 10, 2026.
What discount rate (WACC) does the fair value of 0375 use?
Our models discount YGM Trading Ltd at 9.0 %: a base by market capitalisation (nano), damped by beta 0.41, country premium for Hong Kong. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For YGM Trading Ltd that is -27.8 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (9.0 %) and the same formula as our fair value.
How much growth has YGM Trading Ltd (0375) delivered so far?
Over the past 5 years revenue at YGM Trading Ltd shrank 5.7 % a year. The price currently implies free-cash-flow growth of -27.8 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of YGM Trading Ltd (0375) growing?
The median revenue growth in the sector is +4.5 % a year. That is the yardstick for the growth priced into YGM Trading Ltd (-27.8 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of YGM Trading Ltd (0375)?
The free-cash-flow yield on the price is 18.37 %: that much free cash flow YGM Trading Ltd produces per unit of market value. When it exceeds the discount rate of our models (9.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of YGM Trading Ltd (0375)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For YGM Trading Ltd it is HK$2.43 per share (as of Nov 10, 2026), against a price of HK$1.06. It is the blended result of 10 valuation models in 4 families (DCF Models, Multiples, Asset-Based, Growth DCF).
Is YGM Trading Ltd stock overvalued or undervalued in 2026?
As of Nov 10, 2026, 0375 trades below its calculated fair value: price HK$1.06, fair value HK$2.43, a gap of about +129% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 0375?
No. The price is what the market pays today (HK$1.06); the fair value is what the company's own numbers justify (HK$2.43). For YGM Trading Ltd the two are HK$1.37 per share apart. That gap is exactly why we show both numbers side by side.
How much is YGM Trading Ltd worth?
The market values YGM Trading Ltd at about HK$176M (market capitalisation, as of Nov 10, 2026). Per share that is HK$1.06; our models calculate a fair value of HK$2.43 per share.
What do the bullish and bearish scenarios say about 0375?
Our models span a range for YGM Trading Ltd: cautious scenario HK$2.02, base HK$2.43, optimistic HK$2.89 per share (as of Nov 10, 2026, price HK$1.06). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of YGM Trading Ltd (0375)?
Balance-sheet figures for YGM Trading Ltd (as of Nov 10, 2026): return on equity −9.8%, debt of 0.00 per unit of equity. They feed the Quality Score of 61/100, which measures business quality independently of the share price.
How far is 0375 from its 52-week high?
YGM Trading Ltd trades at HK$1.06, about 13% below its 52-week high of HK$1.22 and 20% above the low of HK$0.8800 (as of Nov 13, 2026). Distance from the high says nothing about value: that is what the fair value of HK$2.43 is for.
Which stocks are comparable to YGM Trading Ltd?
From the same area (Consumer Cyclical) we also value Industria de Diseño Textil, S.A, The TJX Companies, Inc, Fast Retailing Co, Ross Stores, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is YGM Trading Ltd stock attractive at the current price?
The data as of Nov 10, 2026: price HK$1.06, calculated fair value HK$2.43 (+129%), Quality Score 61/100, from 10 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 0375 calculated?
We run YGM Trading Ltd through 10 models from 4 families: DCF Models, Multiples, Asset-Based, Growth DCF. Every model gets the same audited fundamentals; the fair value of HK$2.43 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.1% above its aggregate fair value. YGM Trading Ltd currently trades 56% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of YGM Trading Ltd (0375)?
The closing price on Nov 13, 2026 was HK$1.06. Our model-based fair value is HK$2.43, about +129% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with YGM Trading Ltd right now?
The price is below even our cautious bear case (HK$2.02). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (61/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of YGM Trading Ltd
How large is the market capitalisation of YGM Trading Ltd (0375)?
The market capitalisation of YGM Trading Ltd is HK$176M (≈ $22.4M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of YGM Trading Ltd (0375)?
The price-to-sales ratio of YGM Trading Ltd is 1.14 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of YGM Trading Ltd (0375)?
Earnings per share at YGM Trading Ltd are HK$−0.0100. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of YGM Trading Ltd (0375)?
The dividend yield of YGM Trading Ltd is 9.4%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of YGM Trading Ltd (0375)?
The net margin of YGM Trading Ltd is −23.3% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of YGM Trading Ltd (0375)?
The return on equity (ROE) of YGM Trading Ltd is −9.8% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of YGM Trading Ltd (0375)?
On an EBIT basis the return on assets of YGM Trading Ltd is −1.5% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of YGM Trading Ltd (0375)?
The operating margin of YGM Trading Ltd is 2.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at YGM Trading Ltd (0375)?
Revenue at YGM Trading Ltd is down 7.8% versus a year earlier (3y avg −9.0%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at YGM Trading Ltd (0375)?
Earnings per share at YGM Trading Ltd are down 77.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does YGM Trading Ltd (0375) hold?
YGM Trading Ltd holds more cash than debt, HK$38.4M net (fiscal year 2026). The company holds more cash than debt, a safety cushion.
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Thin data
Nov 10, 2026