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ANTA Sports Products Ltd (2020) Fair Value & Analysis

Consumer Cyclical · HK · Market cap HK$205B (≈ $26.2B) · ISIN KYG040111059

What is ANTA Sports Products Ltd really worth?

AS ANTA Sports Products Ltd 2020 · HK
PriceHK$76.10
Fair ValueHK$119.82
Upside+57.5%
Quality64/100

A solid business, trading 36% below our fair value of HK$119.82.

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Strengths

✓Healthy Growth (revenue 5y +17.7 %/yr)
✓Solidly profitable · 16.9% net margin
✓Low debt · generates free cash flow
✓Ranks above peers (10/15)
✓Wide moat 72/100

Risks

!Evidence only medium, so the estimate is less certain

For context

·3.35% dividend yield
Evidence: Medium Range HK$88.01 – HK$198.00

Fair value as of: Sep 5, 2026

From 26 valuation models · updated today

Share price +0.7% over the past month.

What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price is below even our cautious bear case (HK$88.01). The market is more pessimistic than our downside scenario.
  • Solid quality (64/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (HK$88.01 to HK$198.00) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

HK$170.24 HK$59.82 Fair Value HK$119.82 Apr 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 5, 2026.

How to read this chart

60‑month range HK$59.82 – HK$170.24 · fair‑value band HK$88.01 – HK$198.00 · the HK$76.10 price screens below the HK$119.82 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 5, 2026.

Full chart & analysis →

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Analysis

ANTA Sports Products Ltd (2020) currently trades at HK$76.10, while our model-based Fair Value estimate is HK$119.82, implying the stock looks roughly 36.5% undervalued today. The Quality Score stands at 64/100 (solid quality), in the Consumer Cyclical sector. Bull case: the DCF Models group reads highest at a median of HK$182.47 per share, and 19 of the 26 models we run sit above the HK$76.10 price. Bear case: the Asset-Based group reads lowest at HK$15.51, and 7 of the 26 models stay below the price. Evidence for this calculation is medium.

Over the trailing twelve months, ANTA Sports Products Ltd generated revenue of HK$80.2B at a net margin of 16.9%. Revenue grew 12.4% year over year. It earns a return on equity of 22.5%. Net debt stands at HK$20.6B. Fundamentals as of Sep 5, 2026

Our scenario range runs from HK$88.01 (bear case) to HK$198.00 (bull case); at HK$76.10, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat. The share trades about 26% below its 52-week high and 4% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at −1% fair-value upside, at 57%, 2020 screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
FCF DCF HK$111.22 HK$186.25 HK$417.07 74
EPV HK$48.42 HK$56.90 HK$64.43 74
Growth DCF HK$105.70 HK$210.58 HK$424.64 73
All 26 models by family
DCF Models
FCF DCF HK$111.22 HK$186.25 HK$417.07 74
Owner Earnings HK$104.02 HK$243.20 HK$548.47 70
5Y Revenue Exit HK$48.72 HK$76.65 HK$130.14 71
5Y EBITDA Exit HK$89.78 HK$164.17 HK$301.85 72
5Y P/E Exit HK$88.95 HK$182.47 HK$303.66 68
10Y Revenue Exit HK$65.06 HK$111.74 HK$153.45 66
10Y EBITDA Exit HK$95.96 HK$193.77 HK$373.71 64
10Y P/E Exit HK$95.35 HK$192.10 HK$360.02 60
Earnings-Based
Graham-Dodd HK$33.35 HK$232.58 HK$326.40 63
Lynch FV HK$73.02 HK$104.32 HK$135.62 61
PEG = 1.0 HK$73.02 HK$104.32 HK$135.62 57
EPV HK$48.42 HK$56.90 HK$64.43 74
Dividend Discount
Gordon GGM HK$22.27 HK$48.62 HK$81.81 65
DDM Multi-Stage HK$22.27 HK$39.83 HK$50.67 66
Multiples
P/E Multiple HK$80.92 HK$107.90 HK$134.87 63
P/S Multiple HK$26.06 HK$34.75 HK$43.43 58
P/B Multiple HK$62.53 HK$83.38 HK$104.22 55
EV/EBIT HK$93.41 HK$124.42 HK$155.43 66
EV/EBITDA HK$82.45 HK$109.81 HK$137.16 67
EV/Revenue HK$24.71 HK$35.13 HK$45.56 53
Asset-Based
NCAV (Graham) HK$11.58 HK$15.51 HK$23.16 54
Growth DCF
Growth DCF HK$105.70 HK$210.58 HK$424.64 73
Rev-Margin DCF HK$48.72 HK$84.20 HK$137.53 71
Economic Profit
Residual Income HK$33.19 HK$42.41 HK$167.97 64
ROIC Compounder HK$62.13 HK$94.48 HK$134.08 70
Growth Earnings
Growth-Adj P/E HK$100.02 HK$142.89 HK$185.76 67

Widest divergence: DCF Models (HK$182.47) versus Asset-Based (HK$15.51). Highest evidence: FCF DCF (74).

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Key figures & financial health

P/E ratio 13.3 as of Jun 7, 2026
P/S ratio 2.26 P/E × margin
EPS (TTM) HK$2.48 price ÷ EPS = P/E 13.3
Dividend yield 3.4% payout 103%
Net margin 16.9% FY2025
Return on equity 22.5% TTM
More key figures
Profitability
Return on assets (EBIT) 16.1% avg 5y
Operating margin 21.4% TTM
Growth
Revenue (TTM) HK$80.2B TTM
Revenue growth (YoY) +12.4% 3y avg +14.3%
EPS growth (YoY) −15.0%
Balance sheet & cash flow
Free cash flow HK$17.9B FY2025
Net debt HK$20.6B FY2025 · ≈ 1.2 yrs of FCF

Figures from reported company fundamentals · as of Sep 5, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 64/100

Of which business quality 66 · Market factors (momentum, volatility) 41

Profitability 66
Margins and returns on capital today
Quality Growth 38
Are margins and returns improving?
Cashflow 83
Earnings quality: real cash, not paper profit
Fin. Strength 78
Balance sheet, leverage, solvency risk
Investment 31
Disciplined investing over empire-building
Low Volatility 81
Calm price path (market factor)
Momentum 30
Price trend over the last 3–12 months (market factor)
52W Momentum 16
Distance to the 52-week high (market factor)
Net Issuance 75
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

ANTA Sports Products Limited engages in the research, design, development, manufacture, market, and sale of professional sports footwear, apparel, and accessories in China and internationally.

Full company description

ANTA Sports Products Limited engages in the research, design, development, manufacture, market, and sale of professional sports footwear, apparel, and accessories in China and internationally. The company's products portfolio includes running, cross-training, basketball, professional competition, training, physical education classes, outdoor sports, triathlon, golf, skiing, camping, hiking, urban outdoor, tennis, and other sports under the FILA, FILA KIDS, FILA FUSION, AMER, KOLON SPORT, JACK WOLFSKIN, ANTA, DESCENTE, and ANTA KIDS brands, as well as sports fabrics under MAIA ACTIVE brand name. It also provides logistics, property management, information technology, trademark holding, management, product design, and sports training services, as well as manufacture shoe soles. In addition, the company is involved in trading and retailing of sporting goods. It offers its products through stores and online. ANTA Sports Products Limited was founded in 1991 and is headquartered in Jinjiang, the People's Republic of China.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

ANTA Sports Products Ltd reported revenue of 80.2B CNY in FY2025 versus 49.3B CNY in FY2021, a compound +12.9%/yr. Reported net income was 13.6B CNY in FY2025, compounding +15.2%/yr from FY2021.

Growth Quality 100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
HK$80.2B
Latest YoY
+13.3%
Avg. revenue growth/yr (3Y) ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+14.3%
Avg. revenue growth/yr (5Y) ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+17.7%
Avg. revenue growth/yr (21Y) ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+30.3%
Value creation/yr (5Y) ⓘEarnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+22.2% (18.8 + 3.4)
Revenue +12.9%/yr
FY21 49.3B CNY
FY22 53.7B CNY
FY23 62.4B CNY
FY24 70.8B CNY
FY25 80.2B CNY
Net income +15.2%/yr
FY21 7.7B CNY
FY22 7.6B CNY
FY23 10.2B CNY
FY24 15.6B CNY
FY25 13.6B CNY
Character of growth · EPS growth decomposed (2014-2025) +21.0 % p.a.
Revenue per share +20.9 %

of which total revenue +22.9 % · buybacks/dilution −1.6 %

EBIT margin +0.1 %
Tax rate −0.3 %
Residual (interest, one-offs) +0.3 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "ANTA Sports Products Ltd Fair Value". https://www.fairvalue-calculator.com/stock/2020

Earlier news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Leisure · 190 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 64 · Top 25%
Fair Value upside +58% · Top 25%
Return on equity (TTM) 23% · Top 25%
Return on assets 10% · Top 25%
Net margin (TTM) 17% · Top 25%
Operating margin (TTM) 21% · Top 25%
Revenue growth 12% · Above median
Dividend yield (TTM) 3.4% · Above median
Debt / equity 0.18× · Higher than median

Valuation Multiples vs Leisure median · lower = cheaper

P/E (TTM) 13.3× · Cheaper than median
P/B 3.20× · Pricier than 75% of peers
P/S (TTM) 2.56× · Pricier than 75% of peers
P/FCF 1.5× · Cheaper than median
EV/EBITDA 10.0× · Pricier than median
PEG 1.74× · Pricier than median

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE100 · sector 16
FUTURE62 · sector 14
PAST90 · sector 19
HEALTH91 · sector 94
DIVIDEND67 · sector 55

Insider activity: 40/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Leisure stocks, each showing price versus our Fair Value estimate (as of Sep 5, 2026).

Stock Price Fair Value vs Fair Value
Pop Mart International Group 9992 HK$158.70 HK$227.30 +43%
Amer Sports, Inc AS $33.03 $16.16 −51%
Hasbro, Inc HAS $94.10 $81.97 −13%
Life Time Group LTH $45.40 $15.61 −66%
Li Ning Company 82331 HK$11.62 HK$11.48 −1%
Acushnet Holdings GOLF $89.10 $36.89 −59%
Ninebot Limited 689009 ¥44.94 ¥39.73 −12%
Mattel, Inc MAT $15.26 $18.93 +24%
Planet Fitness, Inc PLNT $53.33 $52.62 −1%
Fluidra, S.A FDR €19.31 €19.47 +1%

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Frequently asked questions

Is ANTA Sports Products Ltd (2020) overvalued or undervalued?
As of Sep 5, 2026, our model estimates a fair value of HK$119.82 versus a price of HK$76.10, about +57% upside (undervalued).
What is the fair value of 2020?
Our model-based fair value for ANTA Sports Products Ltd is HK$119.82 (as of Sep 5, 2026), built from audited fundamentals. The current price: HK$76.10.
What is the quality score of 2020?
ANTA Sports Products Ltd has a Quality Score of 64/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of ANTA Sports Products Ltd (2020)?
ANTA Sports Products Ltd reported trailing-twelve-month revenue of about HK$80.2B (latest available figure, as of Sep 5, 2026).
What is the net profit margin of 2020?
The net profit margin of ANTA Sports Products Ltd is about 16.9%, meaning it keeps roughly 16.9% of revenue as net income. Based on the latest reported figures.
Does ANTA Sports Products Ltd pay a dividend?
ANTA Sports Products Ltd currently shows a dividend yield of about 3.35% relative to its recent price (as of Sep 5, 2026).
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