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Li Ning Valuation Multiples
Discover revenue and EBITDA valuation multiples for Li Ning and similar public comparables like Brunello Cucinelli, Birkenstock, Groupe Dynamite, Pandora and more.
Li Ning Overview
About Li Ning
Established in 1989, Li Ning is one of the largest sportswear companies in China. Headquartered in Beijing, Li Ning mainly sells professional and leisure footwear and apparel under the Li Ning brand. Despite having a single-brand strategy, Li Ning launched multiple sub-brands (such as China Li Ning and Li Ning 1990) to appeal to different demographics. As of the end of 2024, the company had 7,585 stores in China, of which 1,297 were directly operated, and the rest franchised.
Founded
2004
HQ
Employees
5.0K
Website
Sectors
Financials (LTM)
EV
$5B
Li Ning Financials
Li Ning reported last 12-month revenue of $4B and EBITDA of $752M.
In the same LTM period, Li Ning generated $2B in gross profit, $752M in EBITDA, and $432M in net income.
Revenue (LTM)
Li Ning P&L
In the most recent fiscal year, Li Ning reported revenue of $4B and EBITDA of $898M.
Li Ning expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $4B | XXX | $4B | XXX | XXX | XXX |
| Gross Profit | $2B | XXX | $2B | XXX | XXX | XXX |
| Gross Margin | 49% | XXX | 49% | XXX | XXX | XXX |
| EBITDA | $752M | XXX | $898M | XXX | XXX | XXX |
| EBITDA Margin | 17% | XXX | 21% | XXX | XXX | XXX |
| EBIT Margin | 13% | XXX | 13% | XXX | XXX | XXX |
| Net Profit | $432M | XXX | $442M | XXX | XXX | XXX |
| Net Margin | 10% | XXX | 11% | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Li Ning Stock Performance
Li Ning has current market cap of $7B, and enterprise value of $5B.
Market Cap Evolution
Li Ning's stock price is $2.68.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $5B | $7B | 0.0% | XXX | XXX | XXX | $0.17 |
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Start Free TrialLi Ning Valuation Multiples
Li Ning trades at 1.0x EV/Revenue multiple, and 6.1x EV/EBITDA.
EV / Revenue (LTM)
Li Ning Financial Valuation Multiples
As of April 20, 2026, Li Ning has market cap of $7B and EV of $5B.
Equity research analysts estimate Li Ning's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Li Ning has a P/E ratio of 16.0x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $7B | XXX | $7B | XXX | XXX | XXX |
| EV (current) | $5B | XXX | $5B | XXX | XXX | XXX |
| EV/Revenue | 1.0x | XXX | 1.1x | XXX | XXX | XXX |
| EV/EBITDA | 6.1x | XXX | 5.1x | XXX | XXX | XXX |
| EV/EBIT | 8.2x | XXX | 8.3x | XXX | XXX | XXX |
| EV/Gross Profit | 2.1x | XXX | 2.2x | XXX | XXX | XXX |
| P/E | 16.0x | XXX | 15.6x | XXX | XXX | XXX |
| EV/FCF | 8.9x | XXX | 8.3x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Li Ning Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
Li Ning Margins & Growth Rates
Li Ning's revenue in the last 12 month grew by 8%.
Li Ning's revenue per employee in the last FY averaged $0.8M, while opex per employee averaged $0.3M for the same period.
Li Ning's rule of 40 is 26% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Li Ning's rule of X is 39% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
Li Ning Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 8% | XXX | 2% | XXX | XXX | XXX |
| EBITDA Margin | 17% | XXX | 21% | XXX | XXX | XXX |
| EBITDA Growth | 8% | XXX | (18%) | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 26% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 39% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.8M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $0.3M | XXX | XXX | XXX |
| S&M Expenses to Revenue | 31% | XXX | 32% | XXX | XXX | XXX |
| G&A Expenses to Revenue | 5% | XXX | 5% | XXX | XXX | XXX |
| R&D Expenses to Revenue | 0% | XXX | — | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 36% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Li Ning Public Comps
See public comps and valuation multiples for other Clothing & Accessories comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| Li Ning | XXX | XXX | XXX | XXX | XXX | XXX |
| Brunello Cucinelli | XXX | XXX | XXX | XXX | XXX | XXX |
| Birkenstock | XXX | XXX | XXX | XXX | XXX | XXX |
| Groupe Dynamite | XXX | XXX | XXX | XXX | XXX | XXX |
| Pandora | XXX | XXX | XXX | XXX | XXX | XXX |
| Bosideng | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
Li Ning M&A Activity
Li Ning acquired XXX companies to date.
Last acquisition by Li Ning was on XXXXXXXX, XXXXX. Li Ning acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Li Ning
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialLi Ning Investment Activity
Li Ning invested in XXX companies to date.
Li Ning made its latest investment on XXXXXXXX, XXXXX. Li Ning invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Li Ning
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout Li Ning
| When was Li Ning founded? | Li Ning was founded in 2004. |
| Where is Li Ning headquartered? | Li Ning is headquartered in China. |
| How many employees does Li Ning have? | As of today, Li Ning has over 5K employees. |
| Who is the CEO of Li Ning? | Li Ning's CEO is Ning Li. |
| Is Li Ning publicly listed? | Yes, Li Ning is a public company listed on HKEX. |
| What is the stock symbol of Li Ning? | Li Ning trades under 02331 ticker. |
| When did Li Ning go public? | Li Ning went public in 2004. |
| Who are competitors of Li Ning? | Li Ning main competitors are Brunello Cucinelli, Birkenstock, Groupe Dynamite, Pandora. |
| What is the current market cap of Li Ning? | Li Ning's current market cap is $7B. |
| What is the current revenue of Li Ning? | Li Ning's last 12 months revenue is $4B. |
| What is the current revenue growth of Li Ning? | Li Ning revenue growth (NTM/LTM) is 8%. |
| What is the current EV/Revenue multiple of Li Ning? | Current revenue multiple of Li Ning is 1.0x. |
| Is Li Ning profitable? | Yes, Li Ning is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Li Ning? | Li Ning's last 12 months EBITDA is $752M. |
| What is Li Ning's EBITDA margin? | Li Ning's last 12 months EBITDA margin is 17%. |
| What is the current EV/EBITDA multiple of Li Ning? | Current EBITDA multiple of Li Ning is 6.1x. |
| What is the current FCF of Li Ning? | Li Ning's last 12 months FCF is $517M. |
| What is Li Ning's FCF margin? | Li Ning's last 12 months FCF margin is 12%. |
| What is the current EV/FCF multiple of Li Ning? | Current FCF multiple of Li Ning is 8.9x. |
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