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ANTA Sports Products Limited (2020) Fair Value & Analysis

Consumer Cyclical · HK · Market cap HK$205B

AS ANTA Sports Products Limited 2020 · HK
PriceHK$72.35
Fair ValueHK$119.82
Upside+65.6%
Quality64/100
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Healthy Growth
Solidly profitable · 16.9% net margin
Low debt · generates free cash flow
2.98% dividend yield
Ranks above peers (10/15)
Wide moat 72/100
Evidence: Medium Range HK$88.01 – HK$198.00 Share as image

Fair value as of: Aug 13, 2026

From 26 valuation models · updated today

Fair value updated Aug 13, 2026, revised from HK$119.29 to HK$119.82 (+0.4%) since Jul 20, 2026. Share price −2.1% over the past month.

A solid business, screening 66% undervalued on our models.

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.
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Price vs Fair Value (5 years)

HK$170.24 HK$59.82 Fair Value HK$119.82 Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 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$72.35 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 Aug 13, 2026.

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Analysis

ANTA Sports Products Limited (2020) currently trades at HK$72.35, while our model-based Fair Value estimate is HK$119.82, implying the stock looks roughly 65.6% undervalued today. The Quality Score stands at 64/100 (solid quality), in the Consumer Cyclical sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.

Over the trailing twelve months, ANTA Sports Products Limited 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 Aug 13, 2026

Our scenario range runs from HK$88.01 (bear case) to HK$198.00 (bull case); at HK$72.35, 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 30% below its 52-week high, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -12% fair-value upside, at 66%, 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 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.

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
Growth DCF HK$105.70 HK$210.58 HK$424.64 80
Residual Income HK$33.19 HK$42.41 HK$167.97 76
Rev-Margin DCF HK$48.72 HK$84.20 HK$137.53 74
All 26 models by family
DCF Models
FCF DCF HK$111.22 HK$186.25 HK$417.07 38
Owner Earnings HK$104.02 HK$243.20 HK$548.47 31
5Y Revenue Exit HK$48.72 HK$76.65 HK$130.14 39
5Y EBITDA Exit HK$89.78 HK$164.17 HK$301.85 41
5Y P/E Exit HK$88.95 HK$182.47 HK$303.66 38
10Y Revenue Exit HK$65.06 HK$111.74 HK$153.45 36
10Y EBITDA Exit HK$95.96 HK$193.77 HK$373.71 37
10Y P/E Exit HK$95.35 HK$192.10 HK$360.02 35
Earnings-Based
Graham-Dodd HK$33.35 HK$232.58 HK$326.40 54
Lynch FV HK$73.02 HK$104.32 HK$135.62 50
PEG = 1.0 HK$73.02 HK$104.32 HK$135.62 46
EPV HK$48.42 HK$56.90 HK$64.43 59
Dividend Discount
Gordon GGM HK$22.27 HK$48.62 HK$81.81 70
DDM Multi-Stage HK$22.27 HK$39.83 HK$50.67 61
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 53
EV/EBITDA HK$82.45 HK$109.81 HK$137.16 54
EV/Revenue HK$24.71 HK$35.13 HK$45.56 43
Asset-Based
NCAV (Graham) HK$11.58 HK$15.51 HK$23.16 50
Growth DCF
Growth DCF HK$105.70 HK$210.58 HK$424.64 80
Rev-Margin DCF HK$48.72 HK$84.20 HK$137.53 74
Economic Profit
Residual Income HK$33.19 HK$42.41 HK$167.97 76
ROIC Compounder HK$62.13 HK$94.48 HK$134.08 72
Growth Earnings
Growth-Adj P/E HK$100.02 HK$142.89 HK$185.76 68

Widest divergence: DCF Models (HK$182.47) versus Asset-Based (HK$15.51). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) HK$80.2B
Revenue growth (YoY) +12.4%
Net margin 16.9%
Return on equity 22.5%
Free cash flow HK$17.9B FY2025
P/E ratio 13.3 as of Jun 7, 2026
More key figures
Operating margin 21.4%
EPS (TTM) HK$2.48
Dividend yield 3.0%
EPS growth (YoY) -15.0%
Net debt HK$20.6B FY2025

Figures from reported company fundamentals · as of Aug 13, 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 82
Calm price path (market factor)
Momentum 29
Price trend over the last 3–12 months (market factor)
52W Momentum 14
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.

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 Limited reported revenue of HK$80.2B in FY2025 versus HK$49.3B in FY2021, a compound +12.9%/yr. Reported net income was HK$13.6B 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. 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. 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. 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%
Revenue +12.9%/yr
FY21 HK$49.3B
FY22 HK$53.7B
FY23 HK$62.4B
FY24 HK$70.8B
FY25 HK$80.2B
Net income +15.2%/yr
FY21 HK$7.7B
FY22 HK$7.6B
FY23 HK$10.2B
FY24 HK$15.6B
FY25 HK$13.6B
Character of growth · EPS growth decomposed (2014-2025) +21.0 % p.a.
Revenue per share +20.9 pp

of which total revenue +22.9 pp · buybacks/dilution −2.0 pp

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

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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ANTA Sports Products Limited · Fair Value
HK$119.82 +66%Fair Value
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Cite: Fair Value Calculator (2026). "ANTA Sports Products Limited 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 · 189 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 +66% · 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) 3.0% · 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

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.

VALUE 100 · sector 18
FUTURE 62 · sector 17
PAST 90 · sector 19
HEALTH 91 · sector 95
DIVIDEND 60 · sector 51

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

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Frequently asked questions

Is ANTA Sports Products Limited (2020) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$119.82 versus a price of HK$72.35, about +66% (undervalued).
What is the fair value of 2020?
Our model-based fair value for ANTA Sports Products Limited is HK$119.82 (as of Aug 13, 2026), built from audited fundamentals. The current price is HK$72.35.
What is the quality score of 2020?
ANTA Sports Products Limited 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 Limited (2020)?
ANTA Sports Products Limited reported trailing-twelve-month revenue of about HK$80.2B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 2020?
The net profit margin of ANTA Sports Products Limited 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 Limited pay a dividend?
ANTA Sports Products Limited currently shows a dividend yield of about 2.96% relative to its recent price (as of Aug 13, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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