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Pop Mart International Group (9992) Fair Value & Analysis

Consumer Cyclical · HK · Market cap HK$203B

PM Pop Mart International Group 9992 · HK
PriceHK$168.10
Fair ValueHK$237.11
Upside+41.1%
Quality69/100
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Evidence: High Range HK$127.88 – HK$476.54

Fair value as of: Jul 3, 2026

From 26 valuation models · updated 14 days ago

Share price −3.8% over the past month.

Price vs Fair Value (12 months)

HK$329.56 HK$139.33 Fair Value HK$237.11 Jul 2025 Jul 2026

12‑month range HK$139.33 – HK$329.56 · fair‑value band HK$127.88 – HK$476.54 · the HK$168.10 price screens below the HK$237.11 fair value. As of Jul 3, 2026.

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Analysis

Pop Mart International Group (9992) currently trades at HK$168.10, while our model-based Fair Value estimate is HK$237.11, implying the stock looks roughly 41.1% undervalued today. We read business quality at 69/100 (solid 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: high), always confirm before acting.

Over the trailing twelve months, Pop Mart International Group generated revenue of HK$37.1B at a net margin of 34.4%. Revenue grew 174.1% year over year. It earns a return on equity of 77.6%. The balance sheet holds a net cash position of HK$10.9B. Fundamentals as of Jul 3, 2026

Our scenario range runs from HK$127.88 (bear case) to HK$476.54 (bull case); at HK$168.10, the current price sits within that range. The share trades about 50% below its 52-week high and 22% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -26% fair-value upside, at 41%, 9992 screens cheaper than that median.

Key figures & financial health

Revenue (TTM) HK$37.1B
Revenue growth (YoY) +174%
Net margin 34.4%
Return on equity 77.6%
Free cash flow HK$9.7B FY2025
P/E ratio 13.9
More key figures
Operating margin 48.0%
EPS (TTM) HK$3.43
Dividend yield 1.5%
EPS growth (YoY) +271%
Net cash HK$10.9B FY2025

Figures from reported company fundamentals (EODHD) · as of Jul 3, 2026. TTM = trailing twelve months.

About the company

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.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Pop Mart International Group 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.

Revenue +68.5%/yr
FY21 HK$4.5B
FY22 HK$4.6B
FY23 HK$6.3B
FY24 HK$13.0B
FY25 HK$36.2B
Net income +95.4%/yr
FY21 HK$854M
FY22 HK$476M
FY23 HK$1.1B
FY24 HK$3.1B
FY25 HK$12.4B

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Cite: Fair Value Calculator (2026). "Pop Mart International Group Fair Value". https://www.fairvalue-calculator.com/stock/9992

Recent news

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Frequently asked questions

Is Pop Mart International Group (9992) undervalued?
As of Jul 3, 2026, our model estimates a fair value of HK$237.11 versus a price of HK$168.10, about +41% (undervalued). Model-based estimate, not financial advice.
What is the fair value of 9992?
Our model-based fair value for Pop Mart International Group is HK$237.11 (as of Jul 3, 2026), built from audited fundamentals. The current price is HK$168.10.
What is the quality score of 9992?
Pop Mart International Group has a Quality Score of 69/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of Pop Mart International Group (9992)?
Pop Mart International Group reported trailing-twelve-month revenue of about HK$37.1B (latest available figure, as of Jul 3, 2026).
What is the net profit margin of 9992?
The net profit margin of Pop Mart International Group is about 34.4%, meaning it keeps roughly 34.4% of revenue as net income. Based on the latest reported figures.
Does Pop Mart International Group pay a dividend?
Pop Mart International Group currently shows a dividend yield of about 1.54% relative to its recent price (as of Jul 3, 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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Not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.