Pop Mart International Group Limited (9992) AI Stock Analysis

• Market Cap: HK$257.80B
• Dividend Yield: 0.47%
• Average Volume (3M): 15.06M
• Price to Earnings (P/E): 35.3
• Beta (1Y): 0.42
• Revenue Growth: 176.86%
• EPS Growth: 342.12%
• Country: HK
• Employees: 5,692
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Leisure
• EPS (TTM): 3.78
• Shares Outstanding: 1,342,943,100
• 10 Day Avg. Volume: 13,651,935
• 30 Day Avg. Volume: 15,063,567
• PEG Ratio: 0.19
• Price to Book (P/B): 10.45
• Price to Sales (P/S): 8.57
• P/FCF Ratio: 25.17
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: HK$368.21
• Price Target Upside: 93.09% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 19
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 66 Neutral
• Price Target: HK$221.00 ▲(15.89% Upside)

Pop Mart International Group Limited has a strong financial foundation with impressive growth and profitability metrics, which is the most significant factor in the overall score. However, the technical analysis indicates bearish momentum, and the valuation suggests the stock may be overvalued, which negatively impacts the overall score.

Positive Factors

Revenue Growth

The significant revenue growth demonstrates strong market demand and effective business strategies, indicating a solid position in the collectibles market.

Balance Sheet Health

Low leverage and a strong equity position suggest financial stability, providing the company with flexibility for future investments and growth opportunities.

Profitability

High profitability margins indicate efficient operations and strong pricing power, supporting sustainable long-term growth and shareholder value.

Negative Factors

Cash Flow Data Limitations

Lack of current cash flow data hinders accurate assessment of cash flow stability, potentially impacting financial planning and risk management.

Technical Analysis

While not a fundamental factor, persistent bearish technical trends could reflect underlying market concerns, potentially affecting investor confidence.

Valuation Concerns

High valuation ratios may indicate overvaluation, which can limit stock price appreciation and increase vulnerability to market corrections.

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 accessories comprising pins, plushies, cups, and others. Its customers primarily consist of its fans and distributors, as well as bulk purchase corporate customers. As of December 31, 2021, the company's sales and distribution network consisted of 295 retail stores and 1,870 roboshops in first-tier cities, new first-tier cities, and other cities; online channels, including its Tmall flagship store, JD.com flagship store, Pop Draw, and other online channels; and wholesale channels and others in Mainland China and internationally. It also provides internet technology services and technology development services; operates playgrounds; and engages in the investment activities and exhibition business. Pop Mart International Group Limited was founded in 2010 and is headquartered in Beijing, the People's Republic of China.

How the Company Makes Money

Pop Mart generates revenue primarily through the sale of its collectible toys, particularly its blind box products, which are sold both online and in retail outlets. The company has established a diversified revenue model that includes direct sales to consumers via its e-commerce platform, partnerships with retail chains, and collaborations with artists and brands that drive limited edition releases. Key revenue streams include sales from physical retail stores, online sales, and participation in events and exhibitions. Additionally, Pop Mart benefits from a strong brand loyalty and community engagement, which boosts repeat purchases and helps maintain a consistent flow of income.

Pop Mart International Group Limited Financial Statement Overview

Summary

Pop Mart International Group Limited showcases strong financial performance with impressive revenue and profit growth, efficient operations, and a robust balance sheet with low leverage. The company's financial structure is stable, although some concerns arise from the lack of available current cash flow data.

Income Statement

Pop Mart International Group Limited demonstrates strong revenue growth with a significant increase from 6.3 billion to 13.0 billion, reflecting a growth rate of over 106% year-on-year. The company maintains impressive gross and net profit margins at 66.8% and 24.0% respectively, indicating high profitability. EBIT and EBITDA margins are robust at 31.9% and 34.6%, showcasing operational efficiency. These metrics highlight a trajectory of strong growth and profitability.

Balance Sheet

The balance sheet is solid, with a debt-to-equity ratio of 0.09, indicating low leverage and financial stability. Return on Equity stands at 29.3%, reflecting efficient use of equity. The equity ratio of 71.8% further emphasizes strong equity positions relative to total assets, suggesting a low-risk financial structure. Overall, the balance sheet reflects a stable and well-capitalized financial position.

Cash Flow

While cash flow metrics like operating cash flow to net income ratio and free cash flow to net income ratio could not be calculated due to data unavailability, previous years show positive free cash flow generation. However, the absence of current operating and free cash flow data poses a potential risk in assessing cash flow stability. The historical ability to generate free cash flow is a positive sign, but current data limitations impact the overall cash flow assessment.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	22.36B	13.04B	6.30B	4.62B	4.49B	2.51B
Gross Profit	15.55B	8.71B	3.86B	2.65B	2.76B	1.59B
EBITDA	9.26B	4.51B	2.12B	1.28B	1.63B	964.19M
Net Income	6.78B	3.13B	1.08B	475.66M	854.34M	523.50M
Balance Sheet
Total Assets	21.36B	14.87B	9.97B	8.58B	8.32B	6.97B
Cash, Cash Equivalents and Short-Term Investments	13.78B	9.63B	5.97B	5.05B	5.29B	5.68B
Total Debt	1.41B	964.56M	792.81M	741.13M	621.45M	291.77M
Total Liabilities	6.93B	3.99B	2.19B	1.61B	1.50B	840.30M
Stockholders Equity	14.18B	10.68B	7.77B	6.96B	6.82B	6.13B
Cash Flow
Free Cash Flow	8.26B	4.54B	1.61B	563.59M	444.78M	453.58M
Operating Cash Flow	8.97B	5.06B	2.00B	918.56M	773.01M	664.97M
Investing Cash Flow	863.56M	-9.21M	223.99M	-4.81B	-644.08M	-205.09M
Financing Cash Flow	-1.61B	-976.05M	-840.87M	-1.20B	-428.62M	4.60B

Pop Mart International Group Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 190.70
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: 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 190.7 is below the 20-day moving average (MA) of 205.51, below the 50-day MA of 226.33, and below the 200-day MA of 224.40, indicating a bearish trend. The MACD of -8.80 indicates Positive momentum. The RSI at 35.12 is Neutral, neither overbought nor oversold. The STOCH value of 21.04 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

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
9992	66 Neutral	HK$257.80B	35.30	62.28%	0.47%	176.86%	342.12%
0869	63 Neutral	HK$601.80M	41.46	1.28%	13.73%	-44.36%	-93.64%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
0635	55 Neutral	HK$1.10B	-2.56	-8.58%	8.49%	-39.71%	-74.16%
6918	43 Neutral	HK$122.16M	-1.60	-19.89%	―	84.26%	44.41%
0419	41 Neutral	HK$607.68M	-0.35	-113.77%	―	-27.43%	-67.00%
2255	40 Underperform	HK$6.28B	-4.02	-50.43%	―	-8.83%	-393.39%

Pop Mart International Group Limited Corporate Events

Pop Mart Reports Significant Revenue Growth in Q3 2025

Pop Mart International Group Limited announced a substantial increase in revenue for the third quarter of 2025, with an overall growth of 245%-250% compared to the same period in 2024. The company experienced significant growth in both domestic and international markets, with notable increases in online sales and remarkable revenue surges in regions such as America and Europe. This growth highlights Pop Mart’s strengthening position in the global market and its successful expansion strategy.

Pop Mart Grants 38,289 Awards to Employees Under Share Scheme

Pop Mart International Group Limited announced the grant of 38,289 awards under its Post-IPO Share Award Scheme, aimed at rewarding employees for their past performance and aligning their interests with the company’s growth. The awards, which have a vesting period from the second to fourth anniversary, are designed to encourage long-term contributions to the company’s growth and profitability. The scheme will utilize existing shares held by the trustee, with no new shares issued, ensuring no dilution of current shareholders’ equity.