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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 2021, the company had 7,137 stores in China, of which 1,232 were directly operated, and 5,905 were franchised.
2004
4.8K+
LTM Revenue $4.2B
LTM EBITDA $753M
$3.2B
Benchmark forward-looking revenue and EBITDA valuation multiples across generative AI, climate tech, semiconductors, online marketplaces, vertical SaaS and 220 more verticals.
Li Ning has a last 12-month revenue of $4.2B and a last 12-month EBITDA of $753M.
In the most recent fiscal year, Li Ning achieved revenue of $3.5B and an EBITDA of $812M.
Li Ning expects next 12-month revenue of XXX and NTM EBITDA of XXX
See Li Ning valuation multiples based on analyst estimates| FY 2023 | FY 2024 | FY 2025 | LTM | NTM | |
|---|---|---|---|---|---|
| Revenue | $3.3B | $3.5B | XXX | XXX | XXX |
| Gross Profit | $1.5B | $1.6B | XXX | XXX | XXX |
| Gross Margin | 46% | 45% | XXX | XXX | XXX |
| EBITDA | $897M | $812M | XXX | XXX | XXX |
| EBITDA Margin | 27% | 23% | XXX | XXX | XXX |
| Net Profit | $516M | $523M | XXX | XXX | XXX |
| Net Margin | 16% | 15% | XXX | XXX | XXX |
| Net Debt | n/a | n/a | XXX | XXX | XXX |
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As of April 15, 2025, Li Ning's stock price is HKD 15 (or $2).
Li Ning has current market cap of HKD 39.9B (or $5.1B), and EV of HKD 25.2B (or $3.2B).
See Li Ning trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $3.2B | $5.1B | XXX | XXX | XXX | XXX | $0.16 |
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Sign UpAs of April 15, 2025, Li Ning has market cap of $5.1B and EV of $3.2B.
Li Ning's trades at 0.8x LTM EV/Revenue multiple, and 4.6x LTM EBITDA.
Analysts estimate Li Ning's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See valuation multiples for Li Ning and 10K+ public comps| FY 2024 | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|
| EV | $3.2B | XXX | XXX | XXX |
| EV/Revenue | 0.9x | XXX | XXX | XXX |
| EV/EBITDA | 4.0x | XXX | XXX | XXX |
| P/E | 12.5x | XXX | XXX | XXX |
| P/E/Growth | 15.4x | XXX | XXX | XXX |
| EV/FCF | 8.8x | XXX | XXX | XXX |
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Access all public comps and forward-looking valuation multiples like EV/Revenue in 2025, based on equity research analyst estimates.
Sign UpLi Ning's NTM/LTM revenue growth is 2%
Li Ning's revenue per employee for the last fiscal year averaged $0.7M, while opex per employee averaged $0.3M for the same period.
Over next 12 months, Li Ning's ratio of sales and marketing spend to revenue is estimated to be XXX , while its R&D spend to revenue to be XXX .
Analysts estimate Li Ning's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See operational valuation multiples for Li Ning and other 10K+ public comps| FY 2024 | NTM | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|---|
| Revenue Growth | 7% | XXX | XXX | XXX | XXX |
| EBITDA Margin | 23% | XXX | XXX | XXX | XXX |
| EBITDA Growth | -9% | XXX | XXX | XXX | XXX |
| Rule of 40 (SaaS-only) | 24% | XXX | XXX | XXX | XXX |
| Revenue per Employee | $0.7M | XXX | XXX | XXX | XXX |
| Opex per Employee | $0.3M | XXX | XXX | XXX | XXX |
| S&M Expenses to Revenue | 33% | XXX | XXX | XXX | XXX |
| G&A Expenses to Revenue | 5% | XXX | XXX | XXX | XXX |
| R&D Expenses to Revenue | n/a | XXX | XXX | XXX | XXX |
| Opex to Revenue | 36% | XXX | XXX | XXX | XXX |
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Benchmark public comps and private revenue and EBITDA valuation multiples across GRC software, cloud infrastructure, DevOps, online marketplaces and so much more!
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| 2025E | 2026E | 2027E | 2025E | 2026E | 2027E | |
| Brillia Inc | XXX | XXX | XXX | XXX | XXX | XXX |
| Cettire | XXX | XXX | XXX | XXX | XXX | XXX |
| Merino | XXX | XXX | XXX | XXX | XXX | XXX |
| Premier Investments | XXX | XXX | XXX | XXX | XXX | XXX |
| Step One Clothing | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
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Li Ning acquired XXX companies to date.
Last acquisition by Li Ning was XXXXXXXX, XXXXX XXXXX XXXXXX . Li Ning acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX ).
See M&A valuation multiples| Acquired Company | EV | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
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Sign Up| When was Li Ning founded? | Li Ning was founded in 2004. |
| Where is Li Ning headquartered? | Li Ning is headquartered in Hong Kong. |
| How many employees does Li Ning have? | As of today, Li Ning has 4.8K+ employees. |
| Who is the CEO of Li Ning? | Li Ning's CEO is Mr. Ning Li. |
| Is Li Ning publicy listed? | Yes, Li Ning is a public company listed on HKG. |
| 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? | Similar companies to Li Ning include e.g. Brillia Inc, Cettire, Merino, Premier Investments. |
| What is the current market cap of Li Ning? | Li Ning's current market cap is $5.1B |
| What is the current revenue of Li Ning? | Li Ning's last 12-month revenue is $4.2B. |
| What is the current EBITDA of Li Ning? | Li Ning's last 12-month EBITDA is $753M. |
| What is the current EV/Revenue multiple of Li Ning? | Current revenue multiple of Li Ning is 0.8x. |
| What is the current EV/EBITDA multiple of Li Ning? | Current EBITDA multiple of Li Ning is 4.6x. |
| What is the current revenue growth of Li Ning? | Li Ning revenue growth between 2023 and 2024 was 7%. |
| Is Li Ning profitable? | Yes, Li Ning is EBITDA-positive (as of the last 12 months). |
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