Beijing Toread Outdoor Product (300005) fair value: what the stock is really worth
As of Sep 30, 2026: fair value of Beijing Toread Outdoor Product ¥1.74, price ¥10.70, upside -83.7%, quality 55 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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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 24, 2026.
How to read this chart
60‑month range ¥3.79 – ¥23.65 · fair‑value band ¥1.20 – ¥2.26 · the ¥10.70 price screens above the ¥1.74 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 24, 2026.
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Toread Holdings Group Co., Ltd. engages in the research, development, operation, and sales of outdoor products in China and internationally. The company operates through two segments, Outdoor Products Business and Chip Business.
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Toread Holdings Group Co., Ltd. engages in the research, development, operation, and sales of outdoor products in China and internationally. The company operates through two segments, Outdoor Products Business and Chip Business. It offers outdoor products, including jackets, skin clothing, down jackets, t-shirts, trousers, shoes, backpacks, tents, sleeping bags, and mountaineering equipment; and children's outdoor products and accessories. The company also provides chips, such as miniLED backlight driver chips, mini LED direct display driver chips, microLED backplane chips, and pressure touch chips. In addition, it is involved in merchandising business, investment management, business management consulting, semiconductor design development, and software development. The company offers its outdoor products under the TOREAD, TOREADKIDS, and TOREAD.X brand names. The company was formerly known as Beijing Toread Outdoor Products Co., Ltd. and changed its name to Toread Holdings Group Co., Ltd. in July 2015. Toread Holdings Group Co., Ltd. was founded in 1999 and is based in Beijing, China.
Stock analysis
Beijing Toread Outdoor Product (300005) currently trades at ¥10.70, while our model-based Fair Value estimate is ¥1.74, 83.7% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of ¥1.80 per share, and 0 of the 25 models we run sit above the ¥10.70 price.
Bear case: the Dividend Discount group reads lowest at ¥0.2400, and 25 of the 25 models stay below the price. Evidence for this calculation is low.
Scenario range: ¥1.20 (bear) to ¥2.26 (bull), the price of ¥10.70 sits above 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 55/100 (solid quality), in the Consumer Cyclical sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Beijing Toread Outdoor Product reported revenue of 1.4B CNY in FY2025 versus 1.2B CNY in FY2021, a compound +2.7%/yr. Reported net income was 79.0M CNY in FY2025, compounding +9.7%/yr from FY2021.
Key figures
Market cap 15.6B CNY (≈ $2.3B) · P/E ratio 107.0 · P/S ratio 6.12 · EPS (TTM) ¥0.1000 · Dividend yield 0.1% · Net margin 5.7% · Return on equity 3.3% · Return on assets (EBIT) 2.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (low confidence).
What moves the price
The share trades about 55% below its 52-week high and 29% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at 39% fair-value upside, at −84%, 300005 screens richer than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely (¥0.2400 to ¥2.56). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear ¥1.20Fair Value ¥1.74Bull ¥2.26
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (¥0.0681 per share) are deliberately not added.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.Evidence ⓘEvidence = 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.51/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−13.2%
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.
+6.6%
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.
+8.6%
Start year 2020 (pandemic). Over 10 years: −9.6% a year
Revenue growth 19 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.
+16.8%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
−1.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year−1.2%
Dividend (yield on the price)0.1%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−1.2% vs −12.6%, picking up
Profit margin 2020 to 2025 ⓘ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.−35% → 6%
Start year 2020 (pandemic)
⚠ Revenue per share shrinking 3.4%/yr over ~10Y (margins eroding too) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Compare Beijing Toread Outdoor Product with another stock
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.Leisure · 174 stocks
Beats the industry median on 6/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score55 · Above median
Fair Value upside−83.7% · Bottom 25%
Profitability
Return on equity (TTM)3.3% · Below median
Return on assets0.7% · Below median
Net margin (TTM)5.7% · Above median
Operating margin (TTM)13.9% · Above median
Growth and dividend
Revenue growth39.4% · Top 25%
Dividend yield (TTM)0.1% · Bottom 25%
Balance sheet
Debt / equity0.04× · Below median
Valuation Multiplesvs Leisure median · lower = cheaper
P/E (TTM)107.0× · Priciest 25%
P/B7.76× · Priciest 25%
P/S (TTM)10.24× · Priciest 25%
PEG0.33× · Cheapest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 34
FUTURE (revenue growth)100· sector 27
PAST (return on equity)13· sector 25
HEALTH (low debt)98· sector 94
DIVIDEND (yield)2· sector 57
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is Beijing Toread Outdoor Product (300005) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of ¥1.74 versus a price of ¥10.70, about −84% upside (overvalued).
What is the fair value of 300005?
Our model-based fair value for Beijing Toread Outdoor Product is ¥1.74 (as of Sep 24, 2026), built from audited fundamentals. The current price: ¥10.70.
What is the quality score of 300005?
Beijing Toread Outdoor Product has a Quality Score of 55/100. 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 Beijing Toread Outdoor Product (300005)?
Our model-based price target is the fair value of ¥1.74 (as of Sep 24, 2026) from 25 valuation models. Cautious scenario ¥1.20, optimistic scenario ¥2.26. It is a calculation from audited fundamentals, not an analyst target.
What is the Beijing Toread Outdoor Product stock forecast for 2026?
Our models put fair value at ¥1.74, about −84% upside versus a price of ¥10.70 (overvalued). Cautious scenario ¥1.20, optimistic scenario ¥2.26. The calculation is refreshed regularly with new filings.
What is the revenue of Beijing Toread Outdoor Product (300005)?
Beijing Toread Outdoor Product reported trailing-twelve-month revenue of about 1.5B CNY (latest available figure, as of Sep 24, 2026).
Does Beijing Toread Outdoor Product pay a dividend?
Beijing Toread Outdoor Product currently shows a dividend yield of about 0.09% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Beijing Toread Outdoor Product (300005)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Beijing Toread Outdoor Product it is ¥1.74 per share (as of Sep 24, 2026), against a price of ¥10.70. It is the blended result of 25 valuation models (cash flow, earnings, asset, dividend).
Is Beijing Toread Outdoor Product stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 300005 trades above its calculated fair value: price ¥10.70, fair value ¥1.74, a gap of about −84% (overvalued). 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 300005?
No. The price is what the market pays today (¥10.70); the fair value is what the company's own numbers justify (¥1.74). For Beijing Toread Outdoor Product the two are ¥8.96 per share apart. That gap is exactly why we show both numbers side by side.
How much is Beijing Toread Outdoor Product worth?
The market values Beijing Toread Outdoor Product at about 15.6B CNY (market capitalisation, as of Sep 24, 2026). Per share that is ¥10.70; our models calculate a fair value of ¥1.74 per share.
What do the bullish and bearish scenarios say about 300005?
Our models span a range for Beijing Toread Outdoor Product: cautious scenario ¥1.20, base ¥1.74, optimistic ¥2.26 per share (as of Sep 24, 2026, price ¥10.70). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 300005?
Beijing Toread Outdoor Product trades at a price-to-earnings ratio of 107.0 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ¥1.74 is built from several models across several years. Other multiples: PEG 0.3, P/B 7.8, P/S 10.2.
What is the PEG ratio of 300005?
The PEG ratio of Beijing Toread Outdoor Product is 0.33 (P/E divided by earnings growth, as of Sep 24, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Beijing Toread Outdoor Product (300005)?
Balance-sheet figures for Beijing Toread Outdoor Product (as of Sep 24, 2026): return on equity 3.3%, debt of 0.04 per unit of equity. They feed the Quality Score of 55/100, which measures business quality independently of the share price.
How far is 300005 from its 52-week high?
Beijing Toread Outdoor Product trades at ¥10.70, about 55% below its 52-week high of ¥23.65 and 29% above the low of ¥8.29 (as of Sep 30, 2026). Distance from the high says nothing about value: that is what the fair value of ¥1.74 is for.
Which stocks are comparable to Beijing Toread Outdoor Product?
From the same area (Consumer Cyclical) we also value Pop Mart International Group, ANTA Sports Products Limited, Amer Sports, Inc, Hasbro, 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 Beijing Toread Outdoor Product stock attractive at the current price?
The data as of Sep 24, 2026: price ¥10.70, calculated fair value ¥1.74 (−84%), Quality Score 55/100, from 25 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 300005 calculated?
We run Beijing Toread Outdoor Product through 25 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ¥1.74, 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 14.5 % above its aggregate fair value. Beijing Toread Outdoor Product itself currently trades above fair value. 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 Beijing Toread Outdoor Product (300005)?
The closing price on Sep 30, 2026 was ¥10.70. Our model-based fair value is ¥1.74, about −84% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Beijing Toread Outdoor Product right now?
The price sits above even our optimistic bull case (¥2.26). The favourable scenario is already priced in. 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 but not exceptional quality (55/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (¥1.20 to ¥2.26) leaves room in how you read the outcome.
Where does the earnings growth of Beijing Toread Outdoor Product (300005) come from?
Earnings per share at Beijing Toread Outdoor Product grew −13.5 % a year from 2013 to 2024. Broken into its drivers: revenue per share −7.0 %, EBIT margin −9.3 %, tax rate −0.1 %, residual (interest, one-offs) +2.6 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Beijing Toread Outdoor Product
How large is the market capitalisation of Beijing Toread Outdoor Product (300005)?
The market capitalisation of Beijing Toread Outdoor Product is 15.6B CNY (≈ $2.3B). 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 Beijing Toread Outdoor Product (300005)?
The price-to-sales ratio of Beijing Toread Outdoor Product is 6.12 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Beijing Toread Outdoor Product (300005)?
Earnings per share at Beijing Toread Outdoor Product are ¥0.1000 (price ÷ EPS = P/E 107.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Beijing Toread Outdoor Product (300005)?
The dividend yield of Beijing Toread Outdoor Product is 0.1% (payout 10.0%). 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 Beijing Toread Outdoor Product (300005)?
The net margin of Beijing Toread Outdoor Product is 5.7% (fiscal year 2025). 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 Beijing Toread Outdoor Product (300005)?
The return on equity (ROE) of Beijing Toread Outdoor Product is 3.3% (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 Beijing Toread Outdoor Product (300005)?
On an EBIT basis the return on assets of Beijing Toread Outdoor Product is 2.8% (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 Beijing Toread Outdoor Product (300005)?
The operating margin of Beijing Toread Outdoor Product is 13.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Beijing Toread Outdoor Product (300005)?
Revenue at Beijing Toread Outdoor Product is growing +39.4% versus a year earlier (3y avg +6.6%). 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 Beijing Toread Outdoor Product (300005)?
Earnings per share at Beijing Toread Outdoor Product are growing +14.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Beijing Toread Outdoor Product (300005) generate?
The free cash flow of Beijing Toread Outdoor Product is 6.6M CNY (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Beijing Toread Outdoor Product (300005) hold?
Beijing Toread Outdoor Product holds more cash than debt, 631M CNY net (fiscal year 2024). The company holds more cash than debt, a safety cushion.
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