Bosideng: Near-Term Earnings Pressured by Weather but Long-Term Potential Intact; Shares Undervalued
Several apparel brands in China reported weaker foot traffic between April and August amid heavy rainfall and prolonged heatwaves.
Bosideng International Holdings Ltd 03998
Bulls Say, Bears Say
Bulls
The winter sports push in China could drive higher-than-expected demand for down apparel, benefiting Bosideng’s sales growth in the coming years.
Bears
The apparel industry is highly competitive; newcomers and rivals with strong brand images could potentially take market share away from Bosideng.
Trading Information
- Previous Close Price
- HK$4.19
- Day Range
- HK$4.02–4.19
- 52-Week Range
- HK$3.55–5.37
- Bid/Ask
- HK$4.04 / HK$4.09
- Shares Outstanding
- 11.63B
- Market Cap
- HK$47.56B
- Volume/Avg
- 25M / 24M
Key Statistics
- Price/Earnings (Normalized)
- 11.34
- Price/Sales
- 1.63
- Dividend Yield (Trailing)
- 7.48%
- Dividend Yield (Forward)
- 7.48%
- Dividend Payment Schedule
- Jan, Sep
- Total Yield
- 7.52%
Company Profile
Bosideng International Holdings Ltd, through its subsidiaries, focuses on developing and managing the portfolio of its down apparel brands. Its principal activities include research, design and development, raw materials procurement, outsourced manufacturing, and marketing and distribution of branded down apparel products, OEM products, and non-down apparel products. The Group's reportable segments are: Down related apparel, OEM management, Ladieswear apparels, and Diversified apparels. Maximum revenue comes from the Down related apparels segment, which deals with sourcing and distributing branded down and related apparel and certain brand authorizations. Geographically, the Group derives its key revenue from China (the PRC), and the rest from North America, Europe, and other regions.
- Sector
- Consumer Cyclical
- Industry
- Apparel Manufacturing
- Stock Style Box
- Mid Value
- Total Number of Employees
- 12,895
- Website
- https://www.bosideng.com
Competitors
Valuation
|
Metric
|
03998
|
02331
|
02020
|
|---|---|---|---|
Price/Earnings (Normalized) | 11.34 | 10.27 | 13.29 |
Price/Book Value | 2.34 | 1.06 | 2.44 |
Price/Sales | 1.63 | 1.05 | 2.20 |
Price/Cash Flow | 8.49 | 6.93 | 8.10 |
Price/Earnings
03998
02331
02020
Financial Strength
|
Metric
|
03998
|
02331
|
02020
|
|---|---|---|---|
Quick Ratio | 1.61 | 2.31 | 1.49 |
Current Ratio | 2.11 | 2.82 | 1.91 |
Interest Coverage | 63.65 | 29.54 | 29.37 |
Quick Ratio
03998
02331
02020
Profitability
|
Metric
|
03998
|
02331
|
02020
|
|---|---|---|---|
Return on Assets (Normalized) | 14.37% | 9.48% | 13.94% |
Return on Equity (Normalized) | 23.92% | 12.83% | 26.01% |
Return on Invested Capital (Normalized) | 20.99% | 11.77% | 15.77% |
Return on Assets
03998
02331
02020
Apparel Manufacturing Industry Comparables
|
1-Day Chart
|
Name
|
Price
|
Morningstar Rating for Stocks
|
Capital Allocation
|
Economic Moat
|
Market Cap
|
|---|---|---|---|---|---|---|
| H & M Hennes & Mauritz AB Class B
HMRZF
| — | LOCK|<b | $28B | |||
| H & M Hennes & Mauritz AB ADR
HNNMY
| LOCK|?wj&@? | LOCK|M@ | $28B | |||
| Ralph Lauren Corp Class A
RL
| LOCK|^R#$$F | LOCK|mThv | $23B | |||
| Moncler SpA
MONRF
| — | LOCK|twc$ | $13B | |||
| Moncler SpA ADR
MONRY
| — | LOCK|@&T# | $13B | |||
| Gildan Activewear Inc
GIL
| LOCK|sFWhMs | LOCK|D#^F& | $7B | |||
| VF Corp
VFC
| LOCK|?RSZn> | LOCK|Qc> | $7B | |||
| PVH Corp
PVH
| LOCK|QML#&QL | LOCK|v$@ | $4B | |||
| Under Armour Inc Class A
UAA
| LOCK|BM^h$P | LOCK|yxG | $2B | |||
| Under Armour Inc Class C
UA
| LOCK|^%@j?Q | LOCK|cCn | $2B |
United States