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Operator of large home-furnishing and home-improvement shopping malls across China, IKEA-anchored mall format.
Operator of large home-furnishing and home-improvement shopping malls across China, IKEA-anchored mall format.
Earns largely from tenants: furniture and building-material brands that rent space in its malls pay rent and management fees, while a smaller direct-retail line sells to shoppers. A growing share of malls run under its brand for outside owners. Demand follows housing transactions and renovation.
In one line: A China-focused mall version of Home Depot/IKEA landlord.
Moat: narrow (scale, brand, distribution). One of China's largest home-furnishing mall operators, with a broad national store network.
Headquarters: Beijing, China · Employees: 6,589
Size Easyhome New Retail (000785.SZ) is a China Consumer Discretionary company (Department Stores) with a market value of $1.97B, the 1283rd largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥2.12 on 6 Nov 2026.
Performance Over six months the shares fell 17.8%, against -9.1% for the median peer and -16.4% for the China market (cap-weighted) — 10th lowest of 21 in its peer set.
Growth Revenue fell 22.7% over the last twelve months (peer median -0.5%); the operating margin is 3.5% (peer median 5.5%).
Valuation It trades at 19.3× forward earnings against a peer median of 14.5× (5th most expensive of 15).
Price implies For today's price to make sense, revenue must grow about 1% a year for seven years (Req g). Recent delivered growth is +4%, so the hurdle is -3 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 1.5 points below its cost of capital (5.0% WACC).
Next results Next results expected around 23 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥9.74B | CN¥11.1B | CN¥12.9B | CN¥13.5B | CN¥12.9B |
| Revenue growth | — | -14% | -4% | +4% | — |
| Gross profit | CN¥2.92B | CN¥2.00B | CN¥3.28B | CN¥4.35B | CN¥5.54B |
| EBITDA | n/a | CN¥2.42B | CN¥3.63B | CN¥4.45B | CN¥5.91B |
| Net income | -CN¥1.16B | -CN¥999M | CN¥769M | CN¥1.30B | CN¥1.65B |
| Free cash flow | CN¥1.54B | CN¥1.33B | CN¥1.86B | CN¥2.39B | CN¥2.90B |
| Capital expenditure | CN¥342M | CN¥634M | CN¥778M | CN¥1.45B | CN¥951M |
| Total debt | CN¥13.8B | CN¥15.0B | CN¥19.4B | CN¥22.6B | CN¥23.4B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Easyhome New Retail 000785.SZ | $1.97B | -18% | -23% | 3% | 19.3× | 1.0% |
| Red Star Macalline 1528.HK | $1.18B | -33% | -3% | -24% | 32.3× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 000785.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -6.2% | -1.2% | 8th lowest of 21 |
| 6-month return | -17.8% | -9.1% | 10th lowest of 21 |
| Distance from 52-week high | -43.8% | -41.6% | 9th lowest of 21 |
| Revenue growth (TTM) | -22.7% | -0.5% | lowest of 21 |
| Operating margin | 3.5% | 5.5% | 6th lowest of 21 |
| Forward P/E | 19.3× | 14.5× | 5th most expensive of 15 |
| Growth the price implies (Req g, 7 yrs) | 1.0% | 2.4% | 9th least demanding of 18 |
| Growth delivered (Del g) | +4.4% | +0.8% | 6th highest of 18 |
| Hurdle (Req g minus delivered) | -3.3 pp | +0.9 pp | 7th least demanding of 18 |
| ROIC minus cost of capital | -1.5 pp | -1.0 pp | 9th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Easyhome New Retail 000785.SZ | China | $1.97B | -18% | -23% | 3% | 19.3× | 1.0% | +4.4% |
| Seria 2782.T | Japan | $1.91B | +18% | +13% | 9% | 15.2× | -2.1% | +5.0% |
| Beijing United Information Technology 603613.SS | China | $2.05B | -30% | -4% | 5% | n/a | n/a | n/a |
| Lotte Shopping 023530.KS | South Korea | $1.87B | -33% | +1% | 5% | 7.9× | 5.8% | -3.2% |
| H2O Retailing 8242.T | Japan | $2.10B | +17% | 0% | 5% | 12.3× | -9.7% | -1.6% |
| Wangfujing 600859.SS | China | $1.65B | -21% | -10% | 5% | 244.5× | -13.6% | -2.4% |
| Shinsegae 004170.KS | South Korea | $1.59B | -38% | +7% | 9% | 5.8× | -2.2% | +7.8% |
| Ceconomy CEC.DE | Germany | $2.47B | +9% | +4% | 1% | 7.8× | 2.9% | +2.1% |
| Kohl's KSS | United States | $2.61B | +59% | -3% | 4% | 15.3× | 0.0% | -0.5% |
| Anhui Anfu Battery Technology 603031.SS | China | $1.43B | -39% | +4% | 23% | 23.0× | -0.2% | +21.9% |
| Hyundaideptst 069960.KS | South Korea | $1.29B | -23% | -3% | 9% | 7.0× | -17.1% | +13.2% |
| Izumi 8273.T | Japan | $1.28B | -1% | +1% | 5% | 11.2× | n/a | n/a |
| Hunan Friendship & Apollo Commercial 002277.SZ | China | $1.23B | -5% | -20% | -60% | n/a | 21.6% | -15.5% |
| Maoye Commercial 600828.SS | China | $1.13B | -13% | -22% | -3% | n/a | 12.9% | -8.4% |
| Fujian Dongbai (Group) 600693.SS | China | $1.11B | -23% | -1% | 32% | 62.6× | 4.1% | +0.9% |
| CCOOP 000564.SZ | China | $3.55B | -23% | +19% | -46% | n/a | n/a | n/a |
| Nanjing Xinjiekou Department Store 600682.SS | China | $1.07B | -22% | -11% | -16% | n/a | 5.7% | +2.4% |
| Harvey Norman HVN.AX | Australia | $3.84B | +2% | +5% | 18% | 13.8× | 4.7% | +0.8% |
| Takashimaya 8233.T | Japan | $3.98B | +14% | +2% | 11% | 15.6× | 2.4% | -6.3% |
| Far Eastern Department Stores 2903.TW | Taiwan | $910M | -5% | -1% | 13% | n/a | 0.5% | -1.8% |
| J Front Retailing 3086.T | Japan | $4.46B | +24% | -3% | 11% | 22.1× | 5.9% | +6.9% |