Ninebot Ltd (689009) Fair Value & Analysis
Consumer Cyclical · CN · Market cap 32.8B CNY (≈ $4.9B) · ISIN CNE100007788
What is Ninebot Ltd really worth?
A solid business, currently priced close to our fair value of ¥39.73.
Strengths
Risks
For context
Fair value as of: Aug 13, 2026
From 26 valuation models · updated 22 days ago
Share price −2.8% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits close to our fair value, market and models broadly agree here, little valuation tension.
- A fairly wide model range (¥29.80 to ¥75.69) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
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 ¥21.93 – ¥83.61 · fair‑value band ¥29.80 – ¥75.69 · the ¥39.90 price screens above the ¥39.73 fair value. Dashed = 300-day average. As of Aug 13, 2026.
Analysis
Ninebot Ltd (689009) currently trades at ¥39.90, while our model-based Fair Value estimate is ¥39.73, implying the stock looks roughly 0.4% fairly valued today. The Quality Score stands at 70/100 (solid quality), in the Consumer Cyclical sector. Bull case: the Growth Earnings group reads highest at a median of ¥113.31 per share, and 18 of the 26 models we run sit above the ¥39.90 price. Bear case: the Asset-Based group reads lowest at ¥6.66, and 8 of the 26 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Ninebot Ltd generated revenue of 22.0B CNY at a net margin of 6.8%. Revenue grew 14.8% year over year. It earns a return on equity of 21.3%. Net debt stands at 386M CNY. Fundamentals as of Aug 13, 2026
Our scenario range runs from ¥29.80 (bear case) to ¥75.69 (bull case); at ¥39.90, 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 48% below its 52-week high and 18% 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 0%, 689009 screens cheaper than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly ¥0.2364 per share, which is 0.6 % 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.
All 26 models by family
Widest divergence: Growth Earnings (¥113.31) versus Asset-Based (¥6.66). Highest evidence: FCF DCF (74).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 71 · Market factors (momentum, volatility) 37
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
Ninebot Limited engages in the design, research and development, production, sale, and servicing of short-distance transportation and robot products worldwide. Its products include electric vehicles, scooter, balance bike, all-terrain vehicle, service robots, and E-bike.
Full company description
Ninebot Limited engages in the design, research and development, production, sale, and servicing of short-distance transportation and robot products worldwide. Its products include electric vehicles, scooter, balance bike, all-terrain vehicle, service robots, and E-bike. The company also engages in repair of bicycles and tricycles; import and export trade, wholesale, sales, and research and development; provision of intelligent equipment services, transportation vehicles, robots, and related accessories for small-scale transportation; finance; promotion, sales of goods and provision of after-sales service; car sales; Computer software technology development and technology transfer. In addition; it develops, research, process, and sales of motorcycles, electric two-wheeled motorcycles, electric three-wheeled motorcycles, electric bicycles and their parts, batteries, chargers and their parts, technology transfer of off-highway recreational vehicles and spare parts, and all-terrain vehicles and accessories; development of optoelectronic integration technology and computer technology, consulting, transfer, and industrial automatic control system devices, and auxiliary equipment, and communication equipment; intelligent control system integration; information system integration services; and investment management. The company was founded in 1999 and is based in Beijing, China.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Ninebot Ltd reported revenue of 21.3B CNY in FY2025 versus 9.1B CNY in FY2021, a compound +23.5%/yr. Reported net income was 1.8B CNY in FY2025, compounding +43.9%/yr from FY2021.
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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.
Valuation Multiples vs Leisure median · lower = cheaper
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.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Leisure stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| ANTA Sports Products Limited 82020 | HK$65.10 | HK$97.98 | +51% |
| 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% |
| 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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