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Chinese maker of collectible building-block toys and sets licensed from IP such as Ultraman, popular with young collectors.
Chinese maker of collectible building-block toys and sets licensed from IP such as Ultraman, popular with young collectors.
Sells building-block and figure sets whose appeal rests on licensed characters such as Ultraman, so it pays licence fees to the character owners and depends on keeping those rights, with original characters of its own to widen the base.
In one line: A Chinese Lego-style building-block toy maker built on licensed entertainment IP.
Moat: narrow (brand, IP / patents, distribution). Popular licensed-IP tie-ins and growing retail/e-commerce distribution network.
Headquarters: Shenzhen, China · Founded: 2014 · Employees: 935
Size Bloks (0325.HK) is a Hong Kong Consumer Discretionary company (Recreational Products) with a market value of $1.56B, the 481st largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$49.42 on 6 Nov 2026.
Performance Over six months the shares fell 22.6%, against -1.1% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 5th lowest of 21 in its peer set.
Growth Revenue grew 30.0% over the last twelve months (peer median +7.5%); the operating margin is 20.9% (peer median 8.6%).
Valuation It trades at 12.4× forward earnings against a peer median of 15.8× (7th cheapest of 18).
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 +103%, so the hurdle is -104 pp: the price already allows for a slowdown.
Next results Next results expected around 19 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$3.75B | HK$3.16B | HK$2.43B | HK$969M | HK$379M |
| Revenue growth | — | +30% | +151% | +156% | — |
| Gross profit | HK$1.68B | HK$1.48B | HK$1.28B | HK$458M | HK$144M |
| EBITDA | HK$1.09B | HK$881M | HK$353M | HK$140M | -HK$256M |
| Net income | HK$810M | HK$687M | -HK$435M | -HK$228M | -HK$488M |
| Free cash flow | HK$958M | HK$762M | HK$762M | HK$286M | -HK$211M |
| Capital expenditure | HK$437M | HK$377M | HK$131M | HK$47.9M | HK$26.3M |
| Total debt | n/a | HK$389M | HK$2.41B | HK$2.16B | HK$1.82B |
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 |
|---|---|---|---|---|---|---|
| Bloks 0325.HK | $1.56B | -23% | +30% | 21% | 12.4× | -1.0% |
| Pop Mart 9992.HK | $23.8B | -11% | +87% | 45% | 17.5× | 3.8% |
| Mattel MAT | $4.39B | 0% | +3% | 9% | 12.8× | 0.2% |
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 | 0325.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -22.5% | +3.7% | 2nd lowest of 21 |
| 6-month return | -22.6% | -1.1% | 5th lowest of 21 |
| Distance from 52-week high | -47.2% | -16.7% | 2nd lowest of 21 |
| Revenue growth (TTM) | +30.0% | +7.5% | 4th highest of 21 |
| Operating margin | 20.9% | 8.6% | 3rd highest of 21 |
| Forward P/E | 12.4× | 15.8× | 7th cheapest of 18 |
| Growth the price implies (Req g, 7 yrs) | -1.0% | 2.5% | 7th least demanding of 16 |
| Growth delivered (Del g) | +102.8% | +7.0% | highest of 16 |
| Hurdle (Req g minus delivered) | -103.9 pp | -6.2 pp | least demanding of 16 |
| EV / EBITDA | 8.0× | 9.1× | 8th cheapest of 16 |
| Net debt / EBITDA | -3.2× | -0.4× | 3rd least indebted of 18 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Bloks 0325.HK | Hong Kong | $1.56B | -23% | +30% | 21% | 12.4× | -1.0% | +102.8% |
| Spin Master TOY.TO | Canada | $1.52B | +6% | -2% | 9% | 9.6× | -11.5% | +7.0% |
| Sanlorenzo SL.MI | Italy | $1.46B | -7% | +2% | 14% | 11.8× | -2.0% | +13.7% |
| VTech 0303.HK | Hong Kong | $1.72B | -15% | -7% | 9% | 11.9× | -9.7% | -3.0% |
| New Gonow Recreational Vehicles 0805.HK | Hong Kong | $1.36B | +491% | +13% | 2% | n/a | n/a | n/a |
| tonies TNIE.DE | Germany | $1.86B | +24% | +36% | 4% | 37.4× | n/a | n/a |
| Yonex 7906.T | Japan | $1.31B | -10% | +15% | 10% | 14.6× | n/a | n/a |
| Mips MIPS.ST | Sweden | $1.24B | +75% | +41% | 37% | 47.3× | 32.9% | +7.9% |
| Alpha 002292.SZ | China | $2.08B | +13% | +2% | 9% | 72.3× | 28.4% | +0.9% |
| Fusheng Precision 6670.TW | Taiwan | $1.07B | -1% | +1% | 15% | 9.3× | -14.6% | +15.9% |
| GoldLok Holdings (Guangdong) 002348.SZ | China | $1.03B | -38% | +77% | -14% | n/a | n/a | n/a |
| Johnson Health Tech 1736.TW | Taiwan | $1.01B | -12% | +8% | 8% | 8.5× | -8.0% | +13.9% |
| Ferretti YACHT.MI | Italy | $967M | -27% | +1% | 7% | 11.6× | 3.2% | +15.9% |
| Tomy 7867.T | Japan | $2.74B | +89% | +7% | 9% | 20.2× | 2.5% | +13.9% |
| Winnebago Industries WGO | United States | $892M | -1% | -3% | 2% | 15.8× | 6.9% | -5.7% |
| Guangzhou Pearl River Piano 002678.SZ | China | $852M | -30% | +14% | -54% | n/a | n/a | n/a |
| Callaway Golf CALY | United States | $3.00B | -4% | -37% | 9% | 18.6× | 2.4% | +5.3% |
| Sturm, Ruger & RGR | United States | $798M | +28% | +8% | 2% | 26.8× | 21.9% | -0.8% |
| Technogym S.p.A TGYM.MI | Italy | $3.34B | -32% | +10% | 16% | 23.8× | 9.7% | +14.9% |
| Hayward HAYW | United States | $3.38B | +11% | +8% | 22% | 17.9× | 9.9% | +5.1% |
| Yamaha 7951.T | Japan | $3.39B | +7% | +5% | 8% | 15.8× | -1.7% | +4.5% |