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Bosideng International Holdings Ltd (3998) Fair Value & Analysis

Consumer Cyclical · HK · Market cap HK$49.7B (≈ $6.3B) · ISIN KYG126521064

What is Bosideng International Holdings Ltd really worth?

BI Bosideng International Holdings Ltd 3998 · HK
PriceHK$4.35
Fair ValueHK$5.92
Upside+36.3%
Quality64/100

A solid business, trading 27% below our fair value of HK$5.92.

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Strengths

✓Healthy Growth (revenue 5y +14.3 %/yr)
✓Solidly profitable · 14.6% net margin
✓Low debt · generates free cash flow
✓Ranks above peers (11/15)
✓Wide moat 72/100

Risks

!Evidence only low, so the estimate is less certain

For context

·6.51% dividend yield
Evidence: Low Range HK$3.86 – HK$7.47

Fair value as of: Aug 29, 2026

From 26 valuation models · updated 6 days ago

Share price −11.3% 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 large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
  • 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$3.86 to HK$7.47) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

HK$5.41 HK$2.50 Fair Value HK$5.92 Apr 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 29, 2026.

How to read this chart

60‑month range HK$2.50 – HK$5.41 · fair‑value band HK$3.86 – HK$7.47 · the HK$4.35 price screens below the HK$5.92 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 29, 2026.

Full chart & analysis →

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Analysis

Bosideng International Holdings Ltd (3998) currently trades at HK$4.35, while our model-based Fair Value estimate is HK$5.92, implying the stock looks roughly 26.6% 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$6.61 per share, and 14 of the 26 models we run sit above the HK$4.35 price. Bear case: the Asset-Based group reads lowest at HK$1.05, and 12 of the 26 models stay below the price. Evidence for this calculation is low.

Over the trailing twelve months, Bosideng International Holdings Ltd generated revenue of HK$27.3B at a net margin of 14.6%. Revenue grew 7.7% year over year. It earns a return on equity of 22.8%. Net debt stands at HK$3.0B. Fundamentals as of Aug 29, 2026

Our scenario range runs from HK$3.86 (bear case) to HK$7.47 (bull case); at HK$4.35, the current price sits within 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 share trades about 18% below its 52-week high and 22% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at −24% fair-value upside, at 36%, 3998 screens cheaper than that median.

Fair Value models

This estimate rests on fiscal year 2026 figures, and about 5 months have passed since. In that time the company retained roughly HK$0.0117 per share, which is 0.2 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

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 best evidence HK$3.21 HK$5.55 HK$9.60 78
Growth DCF HK$3.20 HK$5.35 HK$8.99 76
Owner Earnings HK$4.43 HK$7.73 HK$13.46 74
All 26 models by family
DCF Models
FCF DCF best evidence HK$3.21 HK$5.55 HK$9.60 78
Owner Earnings HK$4.43 HK$7.73 HK$13.46 74
5Y Revenue Exit HK$2.51 HK$4.03 HK$6.06 72
5Y EBITDA Exit HK$4.13 HK$7.35 HK$11.41 74
5Y P/E Exit HK$4.65 HK$8.42 HK$12.76 69
10Y Revenue Exit HK$2.66 HK$4.18 HK$6.45 66
10Y EBITDA Exit HK$3.79 HK$6.61 HK$10.91 66
10Y P/E Exit HK$4.14 HK$7.39 HK$12.04 62
Earnings-Based
Graham-Dodd HK$2.26 HK$10.32 HK$14.16 64
Lynch FV HK$2.71 HK$3.87 HK$5.03 61
PEG = 1.0 HK$2.71 HK$3.87 HK$5.03 57
EPV HK$2.94 HK$3.38 HK$3.76 74
Dividend Discount
Gordon GGM HK$2.09 HK$4.35 HK$6.90 66
DDM Multi-Stage HK$2.09 HK$3.67 HK$4.56 67
Multiples
P/E Multiple HK$5.47 HK$7.30 HK$9.12 63
P/S Multiple HK$2.04 HK$2.73 HK$3.41 58
P/B Multiple HK$4.23 HK$5.64 HK$7.05 55
EV/EBIT HK$5.82 HK$7.66 HK$9.50 66
EV/EBITDA HK$4.92 HK$6.47 HK$8.01 67
EV/Revenue HK$2.20 HK$3.02 HK$3.83 54
Asset-Based
NCAV (Graham) HK$0.7800 HK$1.05 HK$1.57 54
Growth DCF
Growth DCF HK$3.20 HK$5.35 HK$8.99 76
Rev-Margin DCF HK$2.51 HK$4.00 HK$5.93 72
Economic Profit
Residual Income HK$2.07 HK$2.54 HK$7.03 67
ROIC Compounder HK$3.29 HK$4.32 HK$5.64 72
Growth Earnings
Growth-Adj P/E HK$4.47 HK$6.38 HK$8.30 67

Widest divergence: DCF Models (HK$6.61) versus Asset-Based (HK$1.05). Highest evidence: FCF DCF (78).

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Key figures & financial health

P/E ratio 11.0 as of Jul 2, 2026
P/S ratio 1.60 P/E × margin
EPS (TTM) HK$0.3100 price ÷ EPS = P/E 11.0
Dividend yield 6.5% payout 91.3%
Net margin 14.6% FY2026
Return on equity 22.8% TTM
More key figures
Profitability
Return on assets (EBIT) 15.5% avg 5y
Operating margin 20.9% TTM
Growth
Revenue (TTM) HK$27.3B TTM
Revenue growth (YoY) +7.7% 3y avg +16.3%
EPS growth (YoY) +15.2%
Balance sheet & cash flow
Free cash flow HK$2.7B FY2025
Net debt HK$3.0B FY2026 · ≈ 1.1 yrs of FCF

Figures from reported company fundamentals · as of Aug 29, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 64/100

Of which business quality 64 · Market factors (momentum, volatility) 52

Profitability 75
Margins and returns on capital today
Quality Growth 35
Are margins and returns improving?
Cashflow 49
Earnings quality: real cash, not paper profit
Fin. Strength 86
Balance sheet, leverage, solvency risk
Investment 52
Disciplined investing over empire-building
Low Volatility 81
Calm price path (market factor)
Momentum 41
Price trend over the last 3–12 months (market factor)
52W Momentum 38
Distance to the 52-week high (market factor)
Net Issuance 73
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

Bosideng International Holdings Limited engages in the apparel business in the People's Republic of China. It operates through four segments: Down Related Apparels, OEM Management, Ladieswear Apparels, and Diversified Apparels.

Full company description

Bosideng International Holdings Limited engages in the apparel business in the People's Republic of China. It operates through four segments: Down Related Apparels, OEM Management, Ladieswear Apparels, and Diversified Apparels. The company engages in the research, design, development, outsourced manufacturing, raw materials procurement, marketing, and distribution of down branded and brand authorization, and original equipment manufacturing products under the Bosideng, Snow Flying, Bengen, and other brands; ladies wear products under the JESSIE, BUOU BUOU, KOREANO, and KLOVA brands; and non-seasonal apparel products, including children's wear, as well as school uniforms under the Sameite brand. It also provides network consulting and e-business of down and non-down apparel; logistics and storage services; and operates as an advertisement agency. The company distributes its products through self-operated retail and retail outlets operated by third party distributors. Bosideng International Holdings Limited was founded in 1976 and is based in Central, Hong Kong.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Bosideng International Holdings Ltd reported revenue of HK$26.4B in FY2026 versus HK$16.2B in FY2022, a compound +13.0%/yr. Reported net income was HK$3.9B in FY2026, compounding +16.9%/yr from FY2022.

Growth Quality 100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2026)
HK$26.4B
Latest YoY
+1.9%
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.
+16.3%
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.
+14.3%
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.
+11.9%
Value creation/yr (5Y) ⓘEarnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+22.3% (15.8 + 6.5)
Revenue +13.0%/yr
FY22 HK$16.2B
FY23 HK$16.8B
FY24 HK$23.2B
FY25 HK$25.9B
FY26 HK$26.4B
Net income +16.9%/yr
FY22 HK$2.1B
FY23 HK$2.1B
FY24 HK$3.1B
FY25 HK$3.5B
FY26 HK$3.9B
Character of growth · EPS growth decomposed (2015-2026) +28.4 % p.a.
Revenue per share +12.6 %

of which total revenue +16.6 % · buybacks/dilution −3.5 %

EBIT margin +11.2 %
Tax rate +0.9 %
Residual (interest, one-offs) +1.6 %

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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Bosideng International Holdings Ltd · Fair Value
HK$5.92 +27%Fair Value
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Cite: Fair Value Calculator (2026). "Bosideng International Holdings Ltd Fair Value". https://www.fairvalue-calculator.com/stock/3998

Peer Group

Apparel Manufacturing · 214 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 +36% · Above median
Return on equity (TTM) 23% · Top 25%
Return on assets 12% · Top 25%
Net margin (TTM) 15% · Top 25%
Operating margin (TTM) 21% · Top 25%
Revenue growth 8% · Above median
Dividend yield (TTM) 6.5% · Top 25%

Valuation Multiples vs Apparel Manufacturing median · lower = cheaper

P/E (TTM) 11.0× · Cheaper than 75% of peers
P/B 2.73× · Pricier than 75% of peers
P/S (TTM) 1.82× · Pricier than 75% of peers
P/FCF 2.4× · Pricier than median
EV/EBITDA 7.6× · Cheaper than median
PEG 2.18× · 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
VALUE82 · sector 24
FUTURE39 · sector 4
PAST91 · sector 20
HEALTH100 · sector 98
DIVIDEND100 · sector 54

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 Apparel Manufacturing stocks, each showing price versus our Fair Value estimate (as of Aug 29, 2026).

Stock Price Fair Value vs Fair Value
H & M Hennes & Mauritz AB HMB kr 175.50 kr 165.47 −6%
Ralph Lauren Corporation RL $396.35 $220.38 −44%
Moncler S.p.A MONC €46.15 €50.69 +10%
Gildan Activewear Inc GIL C$75.50 C$45.60 −40%
LPP SA LPP 21,340 PLN 17,754 PLN −17%
Levi Strauss & Co LEVI $21.05 $15.20 −28%
V.F. Corporation VFC $13.67 $10.44 −24%
Youngor Fashion Co 600177 ¥7.91 ¥5.59 −29%
Kontoor Brands, Inc KTB $82.01 $85.76 +5%
Page Industries Limited PAGEIND ₹35,155 ₹12,395 −65%

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Frequently asked questions

Is Bosideng International Holdings Ltd (3998) overvalued or undervalued?
As of Aug 29, 2026, our model estimates a fair value of HK$5.92 versus a price of HK$4.35, about +36% upside (undervalued).
What is the fair value of 3998?
Our model-based fair value for Bosideng International Holdings Ltd is HK$5.92 (as of Aug 29, 2026), built from audited fundamentals. The current price: HK$4.35.
What is the quality score of 3998?
Bosideng International Holdings 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 Bosideng International Holdings Ltd (3998)?
Bosideng International Holdings Ltd reported trailing-twelve-month revenue of about HK$27.3B (latest available figure, as of Aug 29, 2026).
What is the net profit margin of 3998?
The net profit margin of Bosideng International Holdings Ltd is about 14.6%, meaning it keeps roughly 14.6% of revenue as net income. Based on the latest reported figures.
Does Bosideng International Holdings Ltd pay a dividend?
Bosideng International Holdings Ltd currently shows a dividend yield of about 6.51% relative to its recent price (as of Aug 29, 2026).
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