ANTA Sports Products Valuation

Q: What is the Fair Price of AS7 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

AS7 (€9.56) is trading below our estimate of [[fair value]] (€18.58)

Is AS7 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

Below Fair Value
Significantly Below Fair Value
Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of AS7 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: AS7 (€9.56) is trading below our estimate of fair value (€18.58)

Significantly Below Fair Value: AS7 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for AS7?

Key metric: As AS7 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for AS7. This is calculated by dividing AS7's market cap by their current earnings.
What is AS7's PE Ratio?
PE Ratio	15.6x
Earnings	CN¥13.21b
Market Cap	CN¥206.59b

AS7 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	3x
Enterprise Value/EBITDA	11.6x
PEG Ratio	2x

Price to Earnings Ratio vs Peers

How does AS7's PE Ratio compare to its peers?

The above table shows the PE ratio for AS7 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	37.4x
ADS adidas	100.5x	38.1%	€38.3b
BOSS Hugo Boss	12.6x	13.1%	€2.7b
BIJ Bijou Brigitte modische Accessoires	11.2x	n/a	€269.5m
PUM PUMA	25.4x	18.6%	€6.5b
AS7 ANTA Sports Products	15.6x	7.8%	€222.0b

Price-To-Earnings vs Peers: AS7 is good value based on its Price-To-Earnings Ratio (15.6x) compared to the peer average (37.4x).

Price to Earnings Ratio vs Industry

How does AS7's PE Ratio compare vs other companies in the European Luxury Industry?

4 Companies	Price / Earnings	Estimated Growth	Market Cap

4 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: AS7 is expensive based on its Price-To-Earnings Ratio (15.6x) compared to the European Luxury industry average (14.2x).

Price to Earnings Ratio vs Fair Ratio

What is AS7's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

AS7 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	15.6x
Fair PE Ratio	21x

Price-To-Earnings vs Fair Ratio: AS7 is good value based on its Price-To-Earnings Ratio (15.6x) compared to the estimated Fair Price-To-Earnings Ratio (21x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst AS7 forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	€9.56	€14.00 +46.5%	11.1%	€17.39	€8.57	n/a	33
Nov ’25	€9.90	€13.72 +38.6%	11.1%	€17.07	€8.41	n/a	33
Oct ’25	€10.96	€12.54 +14.4%	13.6%	€16.45	€8.26	n/a	33
Sep ’25	€8.66	€12.49 +44.2%	13.6%	€16.50	€8.82	n/a	33
Aug ’25	€7.90	€12.84 +62.5%	14.0%	€17.00	€8.87	n/a	35
Jul ’25	€8.74	€13.41 +53.5%	12.2%	€17.10	€11.31	n/a	35
Jun ’25	€9.90	€13.26 +34.0%	12.2%	€16.92	€11.19	n/a	35
May ’25	€10.50	€13.42 +27.8%	12.1%	€17.17	€11.36	n/a	36
Apr ’25	€9.68	€13.20 +36.3%	12.8%	€17.07	€9.96	n/a	36
Mar ’25	€8.90	€13.04 +46.5%	15.4%	€17.98	€9.95	n/a	35
Feb ’25	€7.58	€13.33 +75.9%	15.8%	€17.96	€9.95	n/a	34
Jan ’25	€8.61	€14.23 +65.2%	11.3%	€17.96	€11.50	n/a	34
Dec ’24	€9.23	€14.46 +56.7%	11.4%	€18.54	€11.60	n/a	34
Nov ’24	€10.56	€14.53 +37.6%	11.6%	€18.61	€11.65	€9.90	34
Oct ’24	€10.42	€14.44 +38.5%	11.9%	€18.30	€11.52	€10.96	33
Sep ’24	€10.70	€14.00 +30.8%	11.7%	€17.60	€11.18	€8.66	33
Aug ’24	€10.22	€13.85 +35.5%	10.5%	€17.36	€11.13	€7.90	34
Jul ’24	€9.30	€14.88 +60.0%	6.1%	€17.25	€12.56	€8.74	34
Jun ’24	€9.30	€15.50 +66.7%	4.2%	€17.18	€14.50	€9.90	34
May ’24	€11.12	€15.42 +38.6%	4.0%	€17.13	€14.26	€10.50	33
Apr ’24	€13.55	€15.74 +16.2%	4.4%	€17.54	€14.36	€9.68	33
Mar ’24	€12.91	€15.24 +18.1%	6.8%	€17.43	€12.53	€8.90	33
Feb ’24	€13.51	€15.15 +12.2%	7.3%	€17.53	€12.60	€7.58	34
Jan ’24	€11.96	€13.54 +13.2%	11.0%	€17.45	€11.07	€8.61	32
Dec ’23	€11.30	€13.58 +20.2%	11.6%	€17.45	€11.06	€9.23	33
Nov ’23	€9.00	€14.00 +55.6%	11.4%	€17.91	€11.36	€10.56	33

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.