Pop Mart International Group Limited (HK:9992)
:9992
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Pop Mart International Group Limited
(9992)
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Rating:71Outperform
Price Target:
HK$173.00
▲(8.74% Upside)
Action:ReiteratedDate:04/25/26
The score is driven primarily by exceptional financial performance (strong growth, major margin expansion, high ROE, and solid cash conversion) offset by clearly bearish technical signals (price below key moving averages and negative MACD). Valuation is reasonable but not compelling, with a low dividend yield.
Positive Factors
Revenue & Margin Expansion
A large, simultaneous jump in sales and margins indicates strong product desirability, pricing power and operating leverage across channels. Sustained higher margins create durable cash flow gaps to reinvest in IP, retail footprint and international expansion over the next several quarters.
Negative Factors
Rising Leverage
An increase in absolute debt, even from a low base, reduces financial flexibility if growth normalizes. Higher leverage heightens interest and refinancing risk and can limit strategic moves (M&A, aggressive reinvestment) if cash flows weaken over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue & Margin Expansion
A large, simultaneous jump in sales and margins indicates strong product desirability, pricing power and operating leverage across channels. Sustained higher margins create durable cash flow gaps to reinvest in IP, retail footprint and international expansion over the next several quarters.
Read all positive factors
Pop Mart International Group Limited (9992) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$207.56B
Dividend Yield0.44%
Average Volume (3M)15.06M
Price to Earnings (P/E)18.0
Beta (1Y)0.37
Revenue Growth185.41%
EPS Growth308.79%
CountryHK
Employees5,692
SectorConsumer Cyclical
Sector Strength84
IndustryLeisure
Share Statistics
EPS (TTM)7.08
Shares Outstanding1,341,043,100
10 Day Avg. Volume13,651,935
30 Day Avg. Volume15,063,567
Financial Highlights & Ratios
PEG Ratio0.06
Price to Book (P/B)10.06
Price to Sales (P/S)6.20
P/FCF Ratio23.19
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$241.58Price Target Upside51.84% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering17
EPS Forecast (FY)11.53
Revenue Forecast (FY)HK$45.25B
Pop Mart International Group Limited Business Overview & Revenue Model
Company Description
Pop Mart International Group Limited engages in the design, development, and sale of pop toys in China. It offers various pop toy products under the Pop Mart brand. The company's products categories include blind boxes and collections, as well as ...
How the Company Makes Money
Pop Mart primarily makes money by designing, sourcing/producing, and selling IP-based collectible products at retail and through distributors. Its core revenue stream is product sales—especially blind-box series and other figurines/collectibles—mo...
Pop Mart International Group Limited Financial Statement Overview
Summary
Income Statement
93
Very Positive
Balance Sheet
88
Very Positive
Cash Flow
85
Very Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 36.16B | 13.04B | 6.30B | 4.62B | 4.49B |
| Gross Profit | 26.07B | 8.71B | 3.86B | 2.65B | 2.76B |
| EBITDA | 17.55B | 4.51B | 2.12B | 1.28B | 1.63B |
| Net Income | 12.45B | 3.13B | 1.08B | 475.66M | 854.34M |
Balance Sheet | |||||
| Total Assets | 32.12B | 14.87B | 9.97B | 8.58B | 8.32B |
| Cash, Cash Equivalents and Short-Term Investments | 17.24B | 9.63B | 5.97B | 5.05B | 5.29B |
| Total Debt | 2.86B | 964.56M | 792.81M | 741.13M | 621.45M |
| Total Liabilities | 9.45B | 3.99B | 2.19B | 1.61B | 1.50B |
| Stockholders Equity | 22.29B | 10.68B | 7.77B | 6.96B | 6.82B |
Cash Flow | |||||
| Free Cash Flow | 9.67B | 4.54B | 1.61B | 563.59M | 444.78M |
| Operating Cash Flow | 10.81B | 5.06B | 2.00B | 918.56M | 773.01M |
| Investing Cash Flow | -993.31M | -9.21M | 223.99M | -4.81B | -644.08M |
| Financing Cash Flow | -1.92B | -976.05M | -840.87M | -1.20B | -428.62M |
Pop Mart International Group Limited Technical Analysis
Negative
159.10
Price Trends
204.58
Negative
203.19
Negative
232.97
Negative
Market Momentum
-13.19
Negative
39.39
Neutral
76.27
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:9992, the sentiment is Negative. The current price of 159.1 is below the 20-day moving average (MA) of 168.40, below the 50-day MA of 204.58, and below the 200-day MA of 232.97, indicating a bearish trend. The MACD of -13.19 indicates Negative momentum. The RSI at 39.39 is Neutral, neither overbought nor oversold. The STOCH value of 76.27 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:9992.
Pop Mart International Group Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | HK$207.56B | 18.02 | 69.31% | 0.44% | 185.41% | 308.79% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
61 Neutral | HK$1.10B | -2.83 | -8.76% | 9.09% | -39.09% | 5.19% | |
60 Neutral | HK$578.20M | -30.67 | 1.26% | 13.73% | -45.00% | -111.66% | |
45 Neutral | HK$6.01B | -4.03 | -60.26% | ― | -14.70% | -14.56% | |
42 Neutral | HK$136.40M | -0.37 | -30.01% | ― | -0.86% | -27.55% | |
41 Neutral | HK$437.24M | -7.30 | -103.18% | ― | -44.03% | 60.88% |
* Consumer Cyclical Sector Average
HK:9992
Pop Mart International Group Limited
156.10
-36.11
-18.79%
HK:0869
Playmates Toys
0.47
-0.04
-8.02%
HK:0635
Playmates Holdings
0.53
0.07
15.72%
HK:2255
Haichang Ocean Park Holdings Ltd.
0.45
-0.22
-32.84%
HK:0419
Huayi Tencent Entertainment Co., Ltd.
0.29
-0.20
-40.63%
HK:6918
Kidztech Holdings Ltd.
0.14
0.02
16.67%
Pop Mart International Group Limited Corporate Events
Pop Mart Sets 2026 AGM to Approve Dividend, Board Mandates and Share Issuance Authority
Apr 21, 2026
Pop Mart International Group Limited has called its annual general meeting for May 13, 2026, in Beijing, where shareholders will review the audited consolidated financial statements for the year ended December 31, 2025 and vote on a proposed final...
Pop Mart Grants 370,449 Employee Share Awards to Drive Long-Term Growth
Apr 20, 2026
Pop Mart International Group Limited has granted 370,449 share awards at no purchase price to employees under its post-IPO share award scheme, with vesting schedules staggered between one and four years and subject to individual performance evalua...
Pop Mart Moves to Modernize Governance With New Articles of Association
Mar 25, 2026
Pop Mart International Group Limited plans to amend its existing articles of association to align them with Hong Kong’s latest Core Shareholder Protection Standards, including provisions that enable shareholders to attend general meetings vi...
Pop Mart Posts Tripled Profit as Revenue Nearly Triples in 2025
Mar 25, 2026
Pop Mart International Group Limited reported a sharp surge in financial performance for the year ended 31 December 2025, with revenue jumping 184.7% to RMB 37.12 billion and gross profit rising 207.4% to RMB 26.76 billion. The company’s pro...
Pop Mart Announces Final 2025 Dividend of RMB 2.3817 Per Share
Mar 25, 2026
Pop Mart International Group Limited has declared a final ordinary cash dividend of RMB 2.3817 per share for the financial year ended 31 December 2025, underscoring its continued profitability and commitment to shareholder returns. The dividend, s...
Pop Mart Sets March Board Meeting to Approve 2025 Results and Consider Final Dividend
Mar 4, 2026
Pop Mart International Group Limited has scheduled a board meeting for March 25, 2026, to review and approve its audited annual results for the financial year ended December 31, 2025. The board will also consider the declaration of a final dividen...
Pop Mart Sales Top 400 Million Units Globally in 2025
Feb 9, 2026
Pop Mart International Group Limited reported that in 2025 its total global sales across all intellectual properties and product categories surpassed 400 million units. Within this, its flagship IP line THE MONSTERS exceeded 100 million units sold...
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.