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Samsonite International SA (SMSEY)
OTHER OTC:SMSEY
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Samsonite International SA
(OTC:SMSEY)
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Rating:72Outperform
Price Target:
$12.00
▲(11.42% Upside)
Samsonite International SA's overall stock score reflects a stable financial performance with strong profitability and operational efficiency. The earnings call provided positive insights into the company's strategic direction and resilience in direct-to-consumer channels. Valuation metrics suggest the stock is reasonably priced with an attractive dividend yield. However, technical indicators show a lack of strong momentum, and high leverage poses a potential risk.
Samsonite International SA (SMSEY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.96B
Dividend Yield4.97%
Average Volume (3M)1.13K
Price to Earnings (P/E)10.1
Beta (1Y)0.27
Revenue Growth-5.30%
EPS Growth-28.61%
CountryUS
Employees12,100
SectorConsumer Cyclical
Sector Strength84
IndustryApparel - Footwear & Accessories
Share Statistics
EPS (TTM)0.27
Shares Outstanding292,808,750
10 Day Avg. Volume2,873
30 Day Avg. Volume1,133
Financial Highlights & Ratios
PEG Ratio-0.67
Price to Book (P/B)2.69
Price to Sales (P/S)1.11
P/FCF Ratio8.69
Enterprise Value/Market Cap1.49
Enterprise Value/Revenue1.26
Enterprise Value/Gross Profit2.12
Enterprise Value/Ebitda5.18
Forecast
1Y Price Target
$12.00Price Target Upside11.42% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
Samsonite International SA Business Overview & Revenue Model
Company DescriptionSamsonite 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 travel accessories and slim protective cases for personal electronic devices primarily under the Samsonite, Tumi, American Tourister, Speck, High Sierra, Gregory, Lipault, Kamiliant, Hartmann, and eBags brands, as well as other owned and licensed brand names. The company sells its products through various wholesale distribution channels, as well as through company operated retail stores and e-commerce. Samsonite International S.A. was founded in 1910 and is based in Luxembourg, Luxembourg.
How the Company Makes MoneySamsonite generates revenue primarily through the sale of its luggage and travel accessories across various distribution channels, including retail stores, e-commerce platforms, and third-party retailers. Key revenue streams include direct-to-consumer sales from brand-owned stores and online platforms, as well as wholesale sales to department stores and specialty retailers. The company benefits from strategic partnerships with travel and retail organizations, enhancing its market reach. Additionally, seasonal promotions and product launches, along with a focus on innovation and premium branding, contribute significantly to its earnings.
Samsonite International SA Earnings Call Summary
Earnings Call Date:Aug 13, 2025
(Q2-2025)
| % Change Since: |
Next Earnings Date:Nov 12, 2025
Earnings Call Sentiment Neutral
The earnings call highlights Samsonite's strong post-pandemic growth and resilience in direct-to-consumer channels, offset by challenges in wholesale sales and regional performance due to macroeconomic uncertainties. Despite these challenges, the company has managed costs effectively and continues to innovate with new product launches.Q2-2025 Updates
Positive Updates
Strong Post-Pandemic Growth
From 2021 to 2024, Samsonite's reported net sales CAGR grew 6x faster than the bag and luggage industry. First half net sales in 2025 were still up 24.4% compared to the pre-pandemic first half of 2019.
Direct-to-Consumer Channel Growth
The direct-to-consumer (DTC) channel showed resilience with only a 1.6% decline compared to a 7.4% decline in the wholesale channel. DTC mix increased to 40% of net sales, up from 38% last year.
Expansion in Non-Travel Category
Non-travel category sales grew by 180 basis points to 36.2% in the first half, representing a significant long-term growth opportunity.
Effective Cost Management
Despite adding 57 net new stores since June 2024, combined distribution and G&A expenses increased by less than 1%, demonstrating effective cost management.
Gross Margin Stability
Gross margin remained strong at 59.2% in the first half of 2025, despite strategic promotional initiatives and a mix effect.
Successful Product Launches
The launch of new products such as the 19 Degree Lite for TUMI and the upcoming PARALUX collection has been successful, with more innovative products planned.
TUMI Brand Resilience
Despite challenges, TUMI performed well with a minor decline of 2.5% and showed an improving trend in Q3.
Negative Updates
Softening Global Travel Demand
A softening in travel demand was observed in the first half of 2025, particularly in North America, influenced by macroeconomic uncertainties and shifting trade policies.
Wholesale Channel Decline
Wholesale sales were down 7.4% in the first half, primarily due to cautious purchasing by wholesale customers influenced by shifting tariffs and consumer sentiment.
American Tourister Challenges
American Tourister sales were down 12.7%, driven by cautious wholesale purchasing and competition from low-priced unbranded products.
Inventory and Tariff Concerns
Higher inventory levels due to pre-tariff stocking and ongoing tariff uncertainties present challenges for managing costs and cash flow.
Regional Performance Issues
Sales in North America, Asia, and Latin America were down, with North America experiencing a 7.3% decline and Asia a 7.6% decline.
Company Guidance
During the Samsonite Group 2025 Interim Results Conference Call, the company provided key metrics and guidance reflecting its performance and strategic direction. The net sales in the first half of 2025 were reported at $1.662 billion, a decrease of 5.2% compared to the previous year, yet still 24.4% higher than pre-pandemic levels. The company's gross margin remained robust at 59.2%, down slightly from a record 60% last year, attributed to geographical mix and promotional strategies. The adjusted EBITDA margin was 16.2%, with adjusted net income at $123 million. Direct-to-consumer (DTC) channels showed resilience, now constituting 40% of net sales, up from 38% last year. The company noted a decrease in its wholesale channel by 7.4%, while DTC only declined by 1.6%. Despite macroeconomic uncertainties, the Samsonite Group continues to focus on profitable growth, brand positioning, and strategic investments in DTC and non-travel categories, with non-travel now representing 36.2% of sales. The company is navigating tariff impacts and expects some sequential improvement in net sales for the remainder of the year. Additionally, they are targeting a dual listing in the U.S., aligning with their long-term growth outlook.Samsonite International SA Financial Statement Overview
Summary
Samsonite International SA demonstrates strong profitability and operational efficiency with healthy margins. However, the decline in revenue growth and high leverage are concerns. The company maintains a solid return on equity and manages cash flow effectively, though recent free cash flow decline warrants attention.Income Statement
Samsonite International SA has shown a strong gross profit margin of approximately 60% in TTM, indicating efficient cost management. However, the revenue growth rate has declined by 0.93% in TTM, reflecting potential challenges in sales expansion. The net profit margin remains stable around 9.6%, suggesting consistent profitability. EBIT and EBITDA margins are healthy, indicating robust operational performance.75
Positive
Balance Sheet
The company has a high debt-to-equity ratio of 1.57 in TTM, which could pose financial risk if not managed properly. However, the return on equity is strong at 23.1%, demonstrating effective use of shareholder funds. The equity ratio is moderate, indicating a balanced capital structure.65
Positive
Cash Flow
Operating cash flow to net income ratio is 0.52, showing adequate cash generation relative to net income. Free cash flow has decreased by 3.69% in TTM, which could impact future investments. However, the free cash flow to net income ratio is strong at 0.82, indicating good cash flow management.70
Positive
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.49B | 3.59B | 3.68B | 2.88B | 2.02B | 1.54B |
| Gross Profit | 2.08B | 1.97B | 2.18B | 1.61B | 1.10B | 706.30M |
| EBITDA | 850.97M | 859.00M | 898.10M | 647.50M | 286.20M | -1.01B |
| Net Income | 295.48M | 345.70M | 417.00M | 312.70M | 14.30M | -1.28B |
Balance Sheet | ||||||
| Total Assets | 5.23B | 5.22B | 5.11B | 4.72B | 4.85B | 5.16B |
| Cash, Cash Equivalents and Short-Term Investments | 669.10M | 676.30M | 716.60M | 635.90M | 1.32B | 1.50B |
| Total Debt | 2.44B | 2.32B | 2.30B | 2.39B | 3.22B | 3.72B |
| Total Liabilities | 3.73B | 3.68B | 3.59B | 3.64B | 4.13B | 4.49B |
| Stockholders Equity | 1.43B | 1.48B | 1.45B | 1.03B | 689.70M | 634.10M |
Cash Flow | ||||||
| Free Cash Flow | 400.75M | 457.70M | 424.10M | 214.90M | 361.20M | -140.30M |
| Operating Cash Flow | 494.57M | 561.70M | 534.20M | 277.70M | 387.10M | -114.20M |
| Investing Cash Flow | -100.94M | -111.50M | -110.10M | -62.80M | 9.40M | -26.10M |
| Financing Cash Flow | -555.17M | -459.70M | -347.80M | -881.10M | -551.20M | 1.16B |
Samsonite International SA Technical Analysis
Positive
10.77
Price Trends
10.82
Negative
10.25
Positive
10.85
Negative
Market Momentum
-0.06
Positive
49.64
Neutral
68.67
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SMSEY, the sentiment is Positive. The current price of 10.77 is below the 20-day moving average (MA) of 10.85, below the 50-day MA of 10.82, and below the 200-day MA of 10.85, indicating a bearish trend. The MACD of -0.06 indicates Positive momentum. The RSI at 49.64 is Neutral, neither overbought nor oversold. The STOCH value of 68.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SMSEY.
Samsonite International SA Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $7.62B | 23.07 | 11.36% | ― | 18.66% | 183.98% | |
74 Outperform | $2.54B | 27.53 | 11.09% | 2.40% | 7.80% | -48.10% | |
72 Outperform | $2.96B | 10.11 | 20.27% | 4.97% | -5.30% | -28.61% | |
71 Outperform | $14.86B | 15.39 | 43.58% | ― | 15.43% | 24.20% | |
67 Neutral | $4.53B | 22.29 | 15.39% | ― | 2.04% | -71.52% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% |
* Consumer Cyclical Sector Average
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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.