Pop Mart International Group Ltd (9992) fair value: what the stock is really worth
As of Sep 30, 2026: fair value of Pop Mart International Group Ltd HK$207, price HK$153, upside +35.6%, quality 88 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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Pop Mart International Group Ltd
9992 · HKUndervalued, solidFair Value upside is positive and quality is strong.
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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$9.80 – HK$329.56 · fair‑value band HK$116.35 – HK$351.72 · the HK$152.60 price screens below the HK$206.97 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 27, 2026.
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Company profile
Pop Mart International Group Limited, an investment holding company, designs, develops, and sells pop toys in the People's Republic of China, Hong Kong, Macau, Taiwan, and internationally. The company offers blind boxes.
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Pop Mart International Group Limited, an investment holding company, designs, develops, and sells pop toys in the People's Republic of China, Hong Kong, Macau, Taiwan, and internationally. The company offers blind boxes. It sells its products through a network of retail stores and roboshops; online channels, including Tmall flagship store, DouYin, Pop Draw, and other online channels; and wholesale channels and others. The company also provides internet technology, customer, and technology development services; and operates playgrounds, as well as engages in investment and exhibition activities. Pop Mart International Group Limited was founded in 2010 and is headquartered in Beijing, the People's Republic of China.
Stock analysis
Pop Mart International Group Ltd (9992) currently trades at HK$152.60, while our model-based Fair Value estimate is HK$206.97, implying the stock looks roughly 26.3% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of HK$437.78 per share, and 14 of the 26 models we run sit above the HK$152.60 price.
Bear case: the Multiples group reads lowest at HK$67.50, and 12 of the 26 models stay below the price. Evidence for this calculation is high.
Scenario range: HK$116.35 (bear) to HK$351.72 (bull), the price of HK$152.60 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 88/100 (high quality), in the Consumer Cyclical sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Pop Mart International Group Ltd reported revenue of HK$36.2B in FY2025 versus HK$4.5B in FY2021, a compound +68.5%/yr. Reported net income was HK$12.4B in FY2025, compounding +95.4%/yr from FY2021.
Key figures
Market cap HK$203B (≈ $25.9B) · P/E ratio 13.9 · P/S ratio 4.78 · EPS (TTM) HK$3.43 · Dividend yield 1.6% · Net margin 34.4% · Return on equity 77.6% · Return on assets (EBIT) 22.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 46% below its 52-week high and 10% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at 54% fair-value upside, at 36%, 9992 screens richer than that median.
Fair Value models
All 26 models by family
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Set up alert →Quality Score breakdown
Of which business quality 85 · Market factors (momentum, volatility) 26
Revenue & earnings trend
Growth Forecast
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Recent news
- JisuLife and POP MART Announce Their First Collaboration Featuring TWINKLE TWINKLE
- POP MART Reports First Half 2026 Financial Results, Announces Future Stock Buyback Plan
- LABUBU Takes Over NYC, POP MART Celebrates THE MONSTERS With 10th Anniversary Exhibition
- Pop Mart Defends Overseas Growth After $28 Billion Market Value Wipeout
Compare Pop Mart 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.Leisure · 183 stocks
Valuation Multiplesvs Leisure 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 Leisure stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| ANTA Sports Products Limited 2020 | HK$71.20 | HK$166.89 | +134% |
| Amer Sports, Inc AS | $27.77 | $19.30 | −31% |
| Hasbro, Inc HAS | $88.09 | $85.98 | −2% |
| Life Time Group LTH | $39.97 | $15.55 | −61% |
| Ninebot Limited 689009 | ¥37.06 | ¥108.20 | +192% |
| Acushnet Holdings GOLF | $83.02 | $43.08 | −48% |
| Li Ning Company 2331 | HK$12.24 | HK$29.18 | +138% |
| Fluidra, S.A FDR | €17.68 | €19.68 | +11% |
| Mattel, Inc MAT | $13.29 | $21.66 | +63% |
| Planet Fitness, Inc PLNT | $42.68 | $65.72 | +54% |
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Key figures of Pop Mart International Group Ltd
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