Crystal International Group Ltd (2232) fair value: what the stock is really worth
As of Sep 30, 2026: fair value of Crystal International Group Ltd HK$9.74, price HK$6.46, upside +50.8%, quality 68 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? Yes
- Good quality? Yes
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Crystal International Group Ltd
2232 · HKClearly undervaluedStrong Fair Value upside, but quality is only moderate.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 27, 2026.
How to read this chart
60‑month range HK$1.62 – HK$7.53 · fair‑value band HK$6.45 – HK$13.97 · the HK$6.46 price screens below the HK$9.74 fair value. Dashed = 300-day average. As of Sep 27, 2026.
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Company profile
Crystal International Group Limited, together with its subsidiaries, engages in the manufacturing and trading of garments in the Asia Pacific, North America, Europe, and internationally. The company offers lifestyle wear, denim, intimate, sweater, and sportswear and outdoor apparel products.
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Crystal International Group Limited, together with its subsidiaries, engages in the manufacturing and trading of garments in the Asia Pacific, North America, Europe, and internationally. The company offers lifestyle wear, denim, intimate, sweater, and sportswear and outdoor apparel products. It also provides value-added services, including printing, washing, and embroidery. The company was founded in 1970 and is headquartered in Kowloon City, Hong Kong.
Stock analysis
Crystal International Group Ltd (2232) currently trades at HK$6.46, while our model-based Fair Value estimate is HK$9.74, implying the stock looks roughly 33.7% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of HK$11.39 per share, and 21 of the 25 models we run sit above the HK$6.46 price.
Bear case: the Asset-Based group reads lowest at HK$2.96, and 4 of the 25 models stay below the price. Evidence for this calculation is low.
Scenario range: HK$6.45 (bear) to HK$13.97 (bull), the price of HK$6.46 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 68/100 (solid quality), in the Consumer Cyclical sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Crystal International Group Ltd reported revenue of $2.6B in FY2025 versus $2.3B in FY2021, a compound +3.1%/yr. Reported net income was $225M in FY2025, compounding +8.3%/yr from FY2021.
Key figures
Market cap HK$18.4B (≈ $2.3B) · P/E ratio 10.5 · P/S ratio 0.89 · EPS (TTM) HK$0.6176 · Dividend yield 0.8% · Net margin 8.5% · Return on equity 14.3% · Return on assets (EBIT) 10.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
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 14% below its 52-week high and 16% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −18% fair-value upside, at 51%, 2232 screens cheaper than that median.
Fair Value models
All 25 models by family
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Set up alert →Quality Score breakdown
Of which business quality 66 · Market factors (momentum, volatility) 52
Revenue & earnings trend
Growth Forecast
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Compare Crystal International Group 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.Apparel Manufacturing · 216 stocks
Valuation Multiplesvs Apparel Manufacturing 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)
- Undervalued stocks: Hong Kong 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 Apparel Manufacturing stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Ralph Lauren Corporation RL | $357.10 | $225.10 | −37% |
| Moncler S.p.A MONC | €43.56 | €50.69 | +16% |
| LPP SA LPP | 24,900 PLN | 20,032 PLN | −20% |
| Levi Strauss & Co LEVI | $19.73 | $16.26 | −18% |
| Gildan Activewear Inc GIL | $40.98 | $45.08 | +10% |
| Bosideng International Holdings 3998 | HK$3.97 | HK$7.44 | +87% |
| Youngor Fashion Co 600177 | ¥8.29 | ¥5.59 | −33% |
| V.F. Corporation VFC | $14.42 | $8.68 | −40% |
| Page Industries Limited PAGEIND | ₹37,695 | ₹28,533 | −24% |
| Hla Group 600398 | ¥5.66 | ¥11.97 | +111% |
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Frequently asked questions
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Key figures of Crystal International Group Ltd
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