Samsonite International SA (HK:1910)
:1910
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Samsonite International SA
(1910)
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Rating:69Neutral
Price Target:
HK$17.00
▲(9.75% Upside)
Action:ReiteratedDate:04/18/26
The score is driven primarily by solid financial performance (strong margins and positive free cash flow, despite softer 2024 results and meaningful leverage) and attractive valuation (low P/E and high dividend yield). These positives are partly offset by weak technicals, with the price below key moving averages and negative MACD.
Positive Factors
High and stable margins
Sustained high gross and operating margins indicate durable pricing power and efficient cost structure across core luggage products. These margins support healthy profitability through cycles, enabling reinvestment in product innovation, brand marketing, and resilience to input-cost swings over the medium term.
Negative Factors
Elevated leverage
Meaningful debt relative to equity keeps the balance sheet sensitive to earnings shocks and refinancing conditions. Elevated leverage limits strategic flexibility, raises interest-cost risk if rates rise, and makes the company more dependent on consistent cash generation to sustain investments and dividends.
Read all positive and negative factors
Positive Factors
Negative Factors
High and stable margins
Sustained high gross and operating margins indicate durable pricing power and efficient cost structure across core luggage products. These margins support healthy profitability through cycles, enabling reinvestment in product innovation, brand marketing, and resilience to input-cost swings over the medium term.
Read all positive factors
Samsonite International SA (1910) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$20.94B
Dividend Yield4.23%
Average Volume (3M)4.08M
Price to Earnings (P/E)9.1
Beta (1Y)0.48
Revenue Growth-2.62%
EPS Growth-8.66%
CountryHK
Employees12,100
SectorConsumer Cyclical
Sector Strength84
IndustryApparel - Footwear & Accessories
Share Statistics
EPS (TTM)0.22
Shares Outstanding1,466,240,700
10 Day Avg. Volume2,431,755
30 Day Avg. Volume4,075,397
Financial Highlights & Ratios
PEG Ratio-0.98
Price to Book (P/B)2.22
Price to Sales (P/S)1.01
P/FCF Ratio8.83
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$22.75Price Target Upside46.88% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering6
EPS Forecast (FY)0.22
Revenue Forecast (FY)HK$3.58B
Samsonite International SA Business Overview & Revenue Model
Company Description
Samsonite International S.A. engages in the design, manufacture, sourcing, and distribution of travel luggage bags in North America, Asia, Europe, and Latin America. It offers luggage, business, computer, outdoor, casual, and women's bags; and tra...
How the Company Makes Money
Samsonite makes money primarily by selling luggage and travel-related products across a portfolio of brands through a mix of channels. Key revenue streams include: (1) Wholesale and distribution sales, where Samsonite supplies products to third-pa...
Samsonite International SA Earnings Call Summary
Earnings Call Date:Nov 12, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:May 19, 2026
Earnings Call Sentiment Neutral
The earnings call reflected a balanced outlook. While there were notable improvements and strategic successes, especially in direct-to-consumer growth and brand performance in specific regions, challenges in North America and the wholesale channel tempered the overall positive momentum.Positive Updates
Sequential Improvement in Sales
All regions and brands showed sequential improvement in Q3 versus Q2. Net sales growth was positive in August, September, and October across all regions and brands.
Negative Updates
North America Challenges
North America's net sales were down 4.5%, largely due to cautious wholesale buying and lower inbound tourism.
Read all updates
Q3-2025 Updates
Positive
Negative
Sequential Improvement in Sales
All regions and brands showed sequential improvement in Q3 versus Q2. Net sales growth was positive in August, September, and October across all regions and brands.
Read all positive updates
Company Guidance
In the Samsonite Group's 2025 Third Quarter Results Conference Call, the company reported a strong momentum in its business, driven by innovative products and sequential improvement across all regions and brands. The overall net sales declined by 1.3% in constant currency, an improvement from the 5.8% decline in Q2. The direct-to-consumer business saw a 3.5% increase, with e-commerce sales up over 10% and company-owned stores up 1.1%. The DTC mix rose to 42% from 38.9% in the previous year. Meanwhile, the wholesale channel experienced a 4.5% decline, partially offset by a 12.3% growth in e-retailer sales. Non-travel sales grew by almost 7%, with the company's gross margin expanding to 59.6%, up 30 basis points from the previous year and 60 basis points from the prior quarter. The company expects sequential sales improvement in Q4, supported by positive sales trends and strong holiday momentum.Samsonite International SA Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
62
Positive
Cash Flow
74
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 3.50B | 3.59B | 3.68B | 2.88B | 2.02B |
| Gross Profit | 1.84B | 2.15B | 2.18B | 1.61B | 1.10B |
| EBITDA | 806.59M | 700.00M | 906.70M | 647.50M | 286.20M |
| Net Income | 289.43M | 345.60M | 417.00M | 312.70M | 14.30M |
Balance Sheet | |||||
| Total Assets | 5.32B | 5.08B | 5.11B | 4.72B | 4.85B |
| Cash, Cash Equivalents and Short-Term Investments | 649.21M | 676.30M | 730.70M | 635.90M | 1.32B |
| Total Debt | 2.37B | 2.32B | 2.30B | 2.39B | 3.22B |
| Total Liabilities | 3.65B | 3.53B | 3.59B | 3.64B | 4.13B |
| Stockholders Equity | 1.60B | 1.48B | 1.45B | 1.03B | 689.70M |
Cash Flow | |||||
| Free Cash Flow | 401.69M | 460.90M | 424.10M | 214.90M | 361.20M |
| Operating Cash Flow | 487.42M | 564.80M | 534.20M | 277.70M | 387.10M |
| Investing Cash Flow | -93.94M | -111.50M | -110.10M | -62.80M | 9.40M |
| Financing Cash Flow | -456.87M | -459.70M | -347.80M | -881.10M | -551.20M |
Samsonite International SA Technical Analysis
Neutral
15.49
Price Trends
17.32
Negative
18.65
Negative
17.60
Negative
Market Momentum
-0.55
Negative
45.15
Neutral
72.04
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1910, the sentiment is Neutral. The current price of 15.49 is above the 20-day moving average (MA) of 15.32, below the 50-day MA of 17.32, and below the 200-day MA of 17.60, indicating a neutral trend. The MACD of -0.55 indicates Negative momentum. The RSI at 45.15 is Neutral, neither overbought nor oversold. The STOCH value of 72.04 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for HK:1910.
Samsonite International SA Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | HK$811.23M | 3.93 | 16.16% | 4.60% | 12.73% | 9.25% | |
73 Outperform | HK$490.35M | 1.91 | 27.89% | 5.45% | 31.25% | 147.52% | |
72 Outperform | HK$669.50M | 2.33 | 9.96% | 6.35% | 15.37% | 107.52% | |
69 Neutral | HK$20.94B | 9.10 | 19.23% | 4.23% | -2.62% | -8.66% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
55 Neutral | HK$2.37B | -53.79 | -14.12% | ― | -12.84% | -405.56% | |
46 Neutral | HK$232.74M | -1.27 | -20.20% | ― | -30.43% | -97.13% |
* Consumer Cyclical Sector Average
HK:1910
Samsonite International SA
15.10
0.58
3.98%
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Samsonite International SA Corporate Events
Samsonite Seeks Shareholder Backing for CEO RSU Grant and Dual-Listing Mandate Renewal
Apr 10, 2026
Samsonite plans to grant restricted share units to Chief Executive Officer Kyle Francis Gendreau under its share award scheme, with an aggregate target long-term incentive value of about US$7.54 million, equal to 500% of his 2026 base salary. The ...
Samsonite Sets May Board Meeting to Approve First-Quarter 2026 Results
Apr 10, 2026
Samsonite Group S.A. has scheduled a board meeting for May 13, 2026, to review and approve the company’s quarterly results for the three months ended March 31, 2026. The meeting will also address other corporate business, signaling an upcomi...
Samsonite Grants Restricted Share Units to New Senior Executives
Apr 8, 2026
Samsonite Group S.A. has granted 789,423 time-based restricted share units to two new senior management employees under its 2022 Share Award Scheme, with the awards vesting in three equal tranches from 2027 to 2029. The awards, which carry no purc...
Samsonite Announces Final Cash Dividend for 2025
Mar 20, 2026
Samsonite Group S.A., a leading global luggage and travel goods maker listed in Hong Kong, serves international leisure and business travelers with a broad range of suitcases, business bags, and travel accessories. The company operates multiple br...
Samsonite Names Independent Director Jerome Griffith as Next Chairman
Mar 19, 2026
Samsonite Group S.A. has announced that Chairman and non-executive director Timothy Charles Parker will retire following the company’s annual general meeting on June 4, 2026, citing a desire to devote more time to personal pursuits. The boar...
Samsonite outlines 2025 results framework and key business drivers
Mar 19, 2026
Samsonite released its final results announcement for the year ended Dec. 31, 2025, highlighting a suite of non-IFRS financial measures that management says provide a fuller view of operational performance. The group emphasized that these alternat...
Samsonite Wins Shareholder Backing for Potential U.S. Dual Listing and Capital Restructuring
Mar 19, 2026
Samsonite shareholders have approved an issuance mandate allowing directors to allot and issue up to 138,306,408 additional shares in connection with a potential dual listing of the company’s stock in the United States through American depos...
Samsonite Sets March 2026 Board Meeting to Approve 2025 Results and Consider Dividend
Feb 27, 2026
Samsonite Group S.A. has scheduled a board meeting for March 19, 2026, to review and approve the audited financial results for the year ended December 31, 2025. The board will also consider recommending a cash dividend to shareholders and address ...
Samsonite Calls 2026 EGM to Broaden Capital Management Flexibility
Feb 16, 2026
Samsonite Group S.A. has called an extraordinary general meeting for March 19, 2026, in Luxembourg, to seek shareholder approval for changes to its Articles of Incorporation. The proposed amendments update key definitions to encompass both shares ...
Samsonite Seeks Share Issuance Mandate Ahead of Potential U.S. Dual Listing
Feb 15, 2026
Samsonite Group S.A. has called a general meeting for March 19, 2026, to seek shareholder approval for a special share issuance mandate tied to a potential dual listing of its shares in the form of American depositary shares in the United States. ...
Samsonite Seeks Shareholder Backing for U.S. Dual Listing and Share Structure Changes
Feb 13, 2026
Samsonite Group S.A. plans to pursue a dual listing of its shares, likely in the form of American depositary shares, on a U.S. stock exchange to broaden investor access and increase trading volume. The board believes this move will support long-te...
Samsonite Appoints Luxury Retail Veteran Luciano Rodembusch as President of TUMI
Feb 5, 2026
Samsonite Group S.A. has announced a key leadership change at its TUMI brand, appointing luxury retail veteran Luciano Severo Rodembusch as President, TUMI, effective around April 1, 2026. Rodembusch brings extensive experience from senior roles a...
Samsonite Appoints Thomas Pizzuti as Group Chief Financial Officer
Jan 27, 2026
Samsonite Group S.A. has appointed Thomas R. Pizzuti as Chief Financial Officer of the group, effective 2 February 2026, entrusting him with oversight of corporate finance, accounting, global investor relations, external reporting, financial plann...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.