Pop Mart International Group Limited logo

Pop Mart International Group Limited

9992.HK

HKSEConsumer CyclicalLeisure

Latest quote

HK$155

+HK$6.00 · +4.03%

Aug 24, 2:03 PM HKT

9992.HK company overview

Regular session · HKT · Market data may be delayed.

Company profile

Company website

Pop Mart International Group Limited, established in 2010 and headquartered in Beijing, China, specializes in the creation, development, and sale of collectible "pop toys" primarily within the Chinese market. Operating under its distinctive Pop Mart brand, the company's product line prominently features blind boxes and various collectible figures, alongside a range of accessories including pins, plush toys, and drinkware. The company caters to a diverse clientele, from individual enthusiasts and wholesale distributors to corporate customers making large-volume purchases. As of December 31, 2021, Pop Mart boasted an extensive sales and distribution network. This included 295 brick-and-mortar retail stores and 1,870 automated "roboshops" spread across first-tier, new first-tier, and other cities. Digital sales channels comprise flagship stores on Tmall and JD.com, its proprietary Pop Draw service, and other online platforms. Additionally, the company engages in wholesale operations both domestically and internationally. Beyond its core toy business, Pop Mart International Group Limited also offers internet technology and development services, manages entertainment playgrounds, undertakes investment activities, and organizes exhibition events.

Industry
Leisure
Sector
Consumer Cyclical
Headquarters
CN
CEO
Ning Wang
Listed since
Dec 11, 2020
Employees
12,056

Market position

Day range

Current HK$155

52-week range

Current HK$155

Open
HK$149
Previous close
HK$149
Volume
14.99M
0.89× average
Average volume
16.93M
Average daily volume
Market cap
204.72B HKD
Beta
1.05
Market reference 1
50-day average
HK$159.3
-2.70% below average
200-day average
HK$185.04
-16.24% below average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
213.31B CNY
P/E (TTM)
13.63×
P/B (TTM)
7.65×
P/S (TTM)
4.41×
EV / EBITDA
12.15×
Earnings yield
5.55%
Free cash flow yield
4.31%
Dividend yield
1.76%

Profitability & efficiency

Gross margin
71.67%
Operating margin
44.96%
Net margin
32.75%
Return on equity
55.84%
Return on assets
38.75%
Return on invested capital
49.25%

Financial health

Debt / equity
0.16×
Current ratio
3.48×
Altman Z-score
19.68
Piotroski F-score
7 of 9

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends78%54%29%4%Gross margin, FY2021: 61.43%Gross margin, FY2022: 57.49%Gross margin, FY2023: 61.32%Gross margin, FY2024: 66.79%Gross margin, FY2025: 72.10%Operating margin, FY2021: 25.60%Operating margin, FY2022: 12.63%Operating margin, FY2023: 19.53%Operating margin, FY2024: 31.86%Operating margin, FY2025: 45.53%Net margin, FY2021: 19.02%Net margin, FY2022: 10.30%Net margin, FY2023: 17.18%Net margin, FY2024: 23.97%Net margin, FY2025: 34.42%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 61.43%. Gross margin FY2022 57.49%. Gross margin FY2023 61.32%. Gross margin FY2024 66.79%. Gross margin FY2025 72.10%. Operating margin FY2021 25.60%. Operating margin FY2022 12.63%. Operating margin FY2023 19.53%. Operating margin FY2024 31.86%. Operating margin FY2025 45.53%. Net margin FY2021 19.02%. Net margin FY2022 10.30%. Net margin FY2023 17.18%. Net margin FY2024 23.97%. Net margin FY2025 34.42%.

Income trends

Revenue

36.16B CNY+177.34%

Operating income

16.46B CNY+296.29%

Net income

12.45B CNY+298.18%
Income trends across reported periods39.73B CNY25.45B CNY11.18B CNY−3.09B CNYRevenue, FY2021: 4.49B CNYRevenue, FY2022: 4.62B CNYRevenue, FY2023: 6.3B CNYRevenue, FY2024: 13.04B CNYRevenue, FY2025: 36.16B CNYOperating income, FY2021: 1.15B CNYOperating income, FY2022: 583.38M CNYOperating income, FY2023: 1.23B CNYOperating income, FY2024: 4.15B CNYOperating income, FY2025: 16.46B CNYNet income, FY2021: 854.34M CNYNet income, FY2022: 475.66M CNYNet income, FY2023: 1.08B CNYNet income, FY2024: 3.13B CNYNet income, FY2025: 12.45B CNYFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 4.49B CNY. Revenue FY2022 4.62B CNY. Revenue FY2023 6.3B CNY. Revenue FY2024 13.04B CNY. Revenue FY2025 36.16B CNY. Operating income FY2021 1.15B CNY. Operating income FY2022 583.38M CNY. Operating income FY2023 1.23B CNY. Operating income FY2024 4.15B CNY. Operating income FY2025 16.46B CNY. Net income FY2021 854.34M CNY. Net income FY2022 475.66M CNY. Net income FY2023 1.08B CNY. Net income FY2024 3.13B CNY. Net income FY2025 12.45B CNY.
Metric (CNY)FY2025FY2024FY2023FY2022FY2021
Revenue36.16B CNY13.04B CNY6.3B CNY4.62B CNY4.49B CNY
Cost of goods sold10.09B CNY4.33B CNY2.44B CNY1.96B CNY1.73B CNY
Gross profit26.07B CNY8.71B CNY3.86B CNY2.65B CNY2.76B CNY
Selling, general, and administrative9.85B CNY4.6B CNY2.71B CNY2.16B CNY1.66B CNY
Operating expenses9.61B CNY4.55B CNY2.63B CNY2.11B CNY1.61B CNY
Interest income154.85M CNY212.34M CNY184.22M CNY67.68M CNY28.61M CNY
Interest expense80.34M CNY48.98M CNY32.34M CNY38.58M CNY21.25M CNY
Depreciation and amortization1.09B CNY312.98M CNY668.57M CNY604.82M CNY435M CNY
Operating income16.46B CNY4.15B CNY1.23B CNY583.38M CNY1.15B CNY
Net income12.45B CNY3.13B CNY1.08B CNY475.66M CNY854.34M CNY

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
45%
5 beats, 6 misses, 0 met estimates
Average EPS surprise
+0.34%
11 comparable reports
Latest EPS result
4.37
Estimate 5.05 · Miss by 13.47%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates8.295.612.930.25Q3 '23BeatQ1 '24BeatQ3 '24BeatQ1 '25MissQ3 '25BeatQ1 '26MissQ3 '26MissQ1 '27Estimate
Q3 2023, reported Aug 22, 2023: actual 0.383, estimate 0.292, surprise +31.25%, Beat. Q1 2024, reported Mar 20, 2024: actual 0.502, estimate 0.451, surprise +11.28%, Beat. Q3 2024, reported Aug 20, 2024: actual 0.742, estimate 0.731, surprise +1.50%, Beat. Q1 2025, reported Mar 26, 2025: actual 1.76, estimate 1.81, surprise -2.76%, Miss. Q3 2025, reported Aug 19, 2025: actual 3.74, estimate 3.45, surprise +8.41%, Beat. Q1 2026, reported Mar 25, 2026: actual 6.91, estimate 7.7, surprise -10.26%, Miss. Q3 2026, reported Aug 20, 2026: actual 4.37, estimate 5.05, surprise -13.47%, Miss. Q1 2027, reported Mar 31, 2027: actual —, estimate 4.82, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates29.8B20.65B11.51B2.36BQ3 '23BeatQ1 '24BeatQ3 '24BeatQ1 '25MissQ3 '25BeatQ1 '26MissQ3 '26MissQ1 '27Estimate
Q3 2023, reported Aug 22, 2023: actual 3.04B HKD, estimate 2.77B HKD, surprise +9.66%, Beat. Q1 2024, reported Mar 20, 2024: actual 3.86B HKD, estimate 3.83B HKD, surprise +0.64%, Beat. Q3 2024, reported Aug 20, 2024: actual 4.89B HKD, estimate 4.72B HKD, surprise +3.80%, Beat. Q1 2025, reported Mar 26, 2025: actual 9.02B HKD, estimate 9.04B HKD, surprise -0.19%, Miss. Q3 2025, reported Aug 19, 2025: actual 15.18B HKD, estimate 14.93B HKD, surprise +1.71%, Beat. Q1 2026, reported Mar 25, 2026: actual 25.87B HKD, estimate 27.8B HKD, surprise -6.95%, Miss. Q3 2026, reported Aug 20, 2026: actual 19.82B HKD, estimate 22.07B HKD, surprise -10.18%, Miss. Q1 2027, reported Mar 31, 2027: actual —, estimate 20.37B HKD, surprise —, Comparison unavailable.

Corporate actions

Annual dividends per share

Cash distributions grouped by calendar year; partial years are marked.

HK$0.8881

2025 complete year+386.9% since 2021

2026 partial: HK$2.7248

* Partial calendar year in the available dividend history.

Corporate action history

Dividend

Ex-dividend May 15, 2026

HK$2.7248

Annual

Record May 19, 2026 · Payment May 28, 2026

Dividend

Ex-dividend May 29, 2025

HK$0.8881

Annual

Record May 30, 2025 · Payment Jun 20, 2025

Dividend

Ex-dividend May 23, 2024

HK$0.3095

Annual

Record May 24, 2024 · Payment Jun 12, 2024

Dividend

Ex-dividend May 19, 2023

HK$0.0978

Annual

Record May 22, 2023 · Payment Jun 8, 2023

Dividend

Ex-dividend Jun 6, 2022

HK$0.1794

Annual

Record Jun 7, 2022 · Payment Jun 23, 2022

Dividend

Ex-dividend Jun 3, 2021

HK$0.1824

Annual

Record Jun 4, 2021 · Payment Jun 30, 2021

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