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Playmates Toys Limited (0869) Fair Value & Analysis

Consumer Cyclical · HK · Market cap HK$546M

PT Playmates Toys Limited 0869 · HK
PriceHK$0.4400
Fair ValueHK$0.9500
Upside+115.9%
Quality48/100
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Mixed Growth
Loss-making · -3.0% net margin
Low debt · generates free cash flow
2.08% dividend yield
Trails peers (5/13)
Narrow moat 6/100
Evidence: Low Range HK$0.9200 – HK$0.9800 Share as image

Fair value as of: Aug 13, 2026

From 7 valuation models · updated 2 days ago

Share price −8.3% over the past month.

Below-average quality, screening 116% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (HK$0.9200). 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 (48/100) at a price below fair value, the discount is the argument here, not the business quality.
  • The models converge in a tight band (HK$0.9200 to HK$0.9800), unusually little disagreement for a valuation.
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Price vs Fair Value (5 years)

HK$0.7111 HK$0.2124 Fair Value HK$0.9500 Jan 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range HK$0.2124 – HK$0.7111 · fair‑value band HK$0.9200 – HK$0.9800 · the HK$0.4400 price screens below the HK$0.9500 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Playmates Toys Limited (0869) currently trades at HK$0.4400, while our model-based Fair Value estimate is HK$0.9500, implying the stock looks roughly 115.9% undervalued today. The Quality Score stands at 48/100 (below-average quality), in the Consumer Cyclical sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: low), always confirm before acting.

Over the trailing twelve months, Playmates Toys Limited generated revenue of HK$512M at a net margin of -3.0%. Revenue declined 32.8% year over year. It earns a return on equity of -1.3%. The balance sheet holds a net cash position of HK$953M. Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$0.9200 (bear case) to HK$0.9800 (bull case); at HK$0.4400, the current price sits below 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 share trades about 29% below its 52-week high and 13% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 11% fair-value upside, at 116%, 0869 screens cheaper 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$0.8700 HK$0.8900 HK$0.9300 80
Rev-Margin DCF HK$0.8600 HK$0.9000 HK$0.9500 74
NCAV (Graham) HK$0.4800 HK$0.6500 HK$0.9700 50
All 7 models by family
DCF Models
FCF DCF HK$0.8700 HK$0.9000 HK$0.9300 38
5Y Revenue Exit HK$0.8600 HK$0.9000 HK$0.9500 39
10Y Revenue Exit HK$0.8600 HK$0.8900 HK$0.9400 36
Multiples
EV/Revenue HK$0.8700 HK$0.9000 HK$0.9300 43
Asset-Based
NCAV (Graham) HK$0.4800 HK$0.6500 HK$0.9700 50
Growth DCF
Growth DCF HK$0.8700 HK$0.8900 HK$0.9300 80
Rev-Margin DCF HK$0.8600 HK$0.9000 HK$0.9500 74

Widest divergence: DCF Models (HK$0.9000) versus Asset-Based (HK$0.6500). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) HK$512M
Revenue growth (YoY) -32.8%
Net margin -3.0%
Return on equity -1.3%
Free cash flow HK$9.8M FY2025
Operating margin -1.2%
More key figures
EPS (TTM) HK$-0.0200
Dividend yield 2.1%
EPS growth (YoY) -74.3%
Net cash HK$953M FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 48/100

Of which business quality 52 · Market factors (momentum, volatility) 43

Profitability 16
Margins and returns on capital today
Quality Growth 0
Are margins and returns improving?
Cashflow 34
Earnings quality: real cash, not paper profit
Fin. Strength 99
Balance sheet, leverage, solvency risk
Investment 88
Disciplined investing over empire-building
Low Volatility 84
Calm price path (market factor)
Momentum 34
Price trend over the last 3–12 months (market factor)
52W Momentum 13
Distance to the 52-week high (market factor)
Net Issuance 83
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

Playmates Toys Limited, an investment holding company, engages in the design, development, marketing, and distribution of toys and family entertainment activity products.

Full company description

Playmates Toys Limited, an investment holding company, engages in the design, development, marketing, and distribution of toys and family entertainment activity products. The company offers its products under the Animal Rescue, Mighty Morphin Power Rangers, Teenage Mutant Ninja Turtles, Mutant Mayhem, Tales Of The Teenage Mutant Ninja Turtles, Classic Teenage Mutant Ninja Turtles, Monsterverse, Miraculous Ladybug, and Winx Club brands. It has operations in Hong Kong, the United States, Europe, North America, Latin America and the Asia Pacific, including Australia, and internationally. The company was founded in 1966 and is based in Tsim Sha Tsui, Hong Kong. Playmates Toys Limited operates as a subsidiary of PIL Toys Limited.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Playmates Toys Limited reported revenue of HK$512M in FY2025 versus HK$625M in FY2021, a compound −4.9%/yr. Reported net income was −HK$15.4M in FY2025.

Growth Quality 44/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
HK$512M
Latest YoY
−45.0%
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.
+0.5%
Avg. growth/yr (5Y) 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.
+12.1%
Avg. growth/yr (21Y) 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.
−4.3%
Revenue −4.9%/yr
FY21 HK$625M
FY22 HK$504M
FY23 HK$1.1B
FY24 HK$931M
FY25 HK$512M
Net income
FY21 HK$43.0M
FY22 HK$9.7M
FY23 HK$224M
FY24 HK$132M
FY25 −HK$15.4M
Character of growth · EPS growth decomposed (2014-2025) −5.4 % p.a.
Revenue per share −4.6 pp

of which total revenue −4.9 pp · buybacks/dilution +0.3 pp

EBIT margin −6.3 pp
Tax rate +1.2 pp
Residual (interest, one-offs) +4.3 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "Playmates Toys Limited Fair Value". https://www.fairvalue-calculator.com/stock/0869

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 48 · Below median
Fair Value upside +116% · Top 25%
Return on assets -2% · Bottom 25%
Net margin (TTM) -3% · Below median
Operating margin (TTM) -1% · Below median
Revenue growth -33% · Bottom 25%
Dividend yield (TTM) 2.1% · Below median
Debt / equity 0.07× · Lower than median

Valuation Multiples vs Leisure median · lower = cheaper

P/B 0.06× · Cheaper than 75% of peers
P/S (TTM) 0.14× · Cheaper than 75% of peers
P/FCF 7.1× · Pricier than median
PEG 0.35× · Cheaper than 75% of peers

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 100 · sector 18
FUTURE 0 · sector 17
PAST 0 · sector 19
HEALTH 97 · sector 95
DIVIDEND 42 · sector 54

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.

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10 more Leisure stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

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Li Ning Company 2331 HK$14.59 HK$29.45 +102%
Asmodee Group ASMDEEB kr 158.70 kr 96.65 -39%
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Frequently asked questions

Is Playmates Toys Limited (0869) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$0.9500 versus a price of HK$0.4400, about +116% (undervalued).
What is the fair value of 0869?
Our model-based fair value for Playmates Toys Limited is HK$0.9500 (as of Aug 13, 2026), built from audited fundamentals. The current price is HK$0.4400.
What is the quality score of 0869?
Playmates Toys Limited has a Quality Score of 48/100. 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 Playmates Toys Limited (0869)?
Playmates Toys Limited reported trailing-twelve-month revenue of about HK$512M (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 0869?
The net profit margin of Playmates Toys Limited is about -3.0%, meaning it is currently running at a net loss. Based on the latest reported figures.
Does Playmates Toys Limited pay a dividend?
Playmates Toys Limited currently shows a dividend yield of about 2.08% relative to its recent price (as of Aug 13, 2026).

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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