Yatsen Holding Limited

NYSE:YSG Stock Report

Market Cap: US$446.5m

Yatsen Holding Valuation

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

Valuation Score

4/6

Valuation Score 4/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

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

Below Fair Value: YSG ($4.74) is trading below our estimate of fair value ($323.75)

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

Key Valuation Metric

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

Key metric: As YSG is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for YSG. This is calculated by dividing YSG's market cap by their current revenue.
What is YSG's PS Ratio?
PS Ratio1x
SalesCN¥3.32b
Market CapCN¥3.24b

Price to Sales Ratio vs Peers

How does YSG's PS Ratio compare to its peers?

The above table shows the PS ratio for YSG vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average1.2x
NUS Nu Skin Enterprises
0.2x-0.06%US$375.3m
WALD Waldencast
1.5x18.2%US$374.4m
THRN Thorne HealthTech
2.1x19.8%US$550.6m
USNA USANA Health Sciences
0.8x0.4%US$760.9m
YSG Yatsen Holding
1x5.4%US$446.5m

Price-To-Sales vs Peers: YSG is expensive based on its Price-To-Sales Ratio (1x) compared to the peer average (0.9x).

Price to Sales Ratio vs Industry

How does YSG's PS Ratio compare vs other companies in the US Personal Products Industry?

26 CompaniesPrice / SalesEstimated GrowthMarket Cap
HLF Herbalife
0.2x1.8%US$869.83m
NUS Nu Skin Enterprises
0.2x-0.06%US$375.32m
MED Medifast
0.3x-13.4%US$198.34m
SKIN Beauty Health
0.5x5.7%US$176.25m
YSG 1.0xIndustry Avg. 1.5xNo. of Companies26PS02.44.87.29.612+
26 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: YSG is good value based on its Price-To-Sales Ratio (1x) compared to the US Personal Products industry average (1.5x).

Price to Sales Ratio vs Fair Ratio

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

YSG PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio1x
Fair PS Ratio1.1x

Price-To-Sales vs Fair Ratio: YSG is good value based on its Price-To-Sales Ratio (1x) compared to the estimated Fair Price-To-Sales Ratio (1.1x).

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 YSG forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$4.74
US$3.99
-15.9%
14.6%US$4.78US$3.40n/a3
Nov ’25US$3.89
US$3.99
+2.5%
14.6%US$4.78US$3.40n/a3
Oct ’25US$3.46
US$3.99
+15.2%
14.6%US$4.78US$3.40n/a3
Sep ’25US$3.19
US$4.12
+29.2%
10.8%US$4.75US$3.76n/a3
Aug ’25US$3.85
US$4.15
+7.9%
14.1%US$4.98US$3.69n/a3
Jul ’25US$2.96
US$3.97
+34.1%
15.3%US$4.99US$3.39n/a4
Jun ’25US$3.40
US$4.19
+23.3%
15.8%US$5.00US$3.40n/a4
May ’25US$4.15
US$4.35
+4.8%
15.7%US$4.97US$3.40n/a3
Apr ’25US$2.29
US$4.43
+93.3%
13.5%US$4.98US$3.59n/a3
Mar ’25US$2.56
US$4.60
+79.3%
16.9%US$5.49US$3.60n/a3
Feb ’25US$3.07
US$5.84
+90.2%
18.5%US$7.30US$4.71n/a3
Jan ’25US$3.66
US$5.84
+59.7%
18.5%US$7.30US$4.71n/a3
Dec ’24US$4.00
US$5.60
+40.0%
18.1%US$7.28US$4.70n/a4
Nov ’24US$4.13
US$5.94
+44.0%
14.3%US$7.21US$4.84US$3.894
Oct ’24US$5.00
US$5.94
+18.8%
14.3%US$7.21US$4.84US$3.464
Sep ’24US$5.05
US$6.09
+20.6%
13.9%US$7.21US$4.84US$3.194
Aug ’24US$5.85
US$6.21
+6.1%
13.8%US$7.30US$4.90US$3.854
Jul ’24US$5.05
US$6.23
+23.4%
12.3%US$7.13US$5.00US$2.964
Jun ’24US$4.79
US$6.23
+30.1%
12.3%US$7.13US$5.00US$3.404
May ’24US$5.10
US$7.59
+48.8%
12.5%US$8.87US$6.61US$4.153
Apr ’24US$7.40
US$7.59
+2.6%
12.5%US$8.87US$6.61US$2.293
Mar ’24US$7.15
US$6.98
-2.4%
14.5%US$7.80US$5.55US$2.563
Feb ’24US$8.10
US$6.98
-13.8%
14.5%US$7.80US$5.55US$3.073
Jan ’24US$7.30
US$6.98
-4.4%
14.5%US$7.80US$5.55US$3.663
Dec ’23US$6.15
US$6.43
+4.6%
21.3%US$7.50US$4.50US$4.003
Nov ’23US$5.75
US$6.45
+12.1%
19.9%US$7.41US$4.63US$4.133

Analyst Forecast: Target price is lower than the current share price.

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