Who are SHEIN Global's main competitors?

Named competitors: Temu (PDD Holdings) (PDD), Zara (Inditex) (ITX.MC), H&M (HM-B.ST), ASOS (ASC.L). The cockpit's measured peer set (industry) also includes Louis Hachette (ALHG.PA), Muninova (547A.T), Paratus Energy Services (PLSV.OL), Queen's Road Capital Investment (QRC.TO), Hanwha Machinery & Service (0220W0.KS), Ashika Global Securities (ASHIKAG.NS).

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SHEIN Global Holdings Limited Class B0625.HKCompetitor analysis, valuation and peers

Hong Kong · HKD·Industrials›Miscellaneous

Ultra-fast-fashion e-commerce retailer selling low-cost apparel direct to consumers worldwide via its own app and site.

≈ A Chinese-founded, Singapore-based Zara/Forever 21 for online-only ultra-fast fashion

Competitor Analysis ▸ Charts Open in the cockpit

Mkt cap

$22.0B

US dollars, full cap

Free float

30%

of shares outstanding

$/day

$7.77M

20-day average traded

Fwd P/E

n/m

no positive forecast

ROIC−WACC

n/a

WACC 5.5%

Hurdle

-13 pp

Req g minus delivered

Next earnings

26 days

2 Dec 2026

Close · HKDHK$40.66

1D+1.6%

1W+12.9%

1M+23.4%

3Mn/a

6Mn/a

YTDn/a

1Yn/a

ATR %5.8%

52w lowhigh16.3% off high

What SHEIN Global does

Ultra-fast-fashion e-commerce retailer selling low-cost apparel direct to consumers worldwide via its own app and site.

Designs most of its own clothes and places small test orders with a network of contract factories, mostly in Guangdong, then reorders what sells, which keeps unsold stock low; it sells to consumers directly online rather than through shops. Founder Chris Xu controls it, it is headquartered in Singapore, and marketplace sellers are a newer line.

In one line: A Chinese-founded, Singapore-based Zara/Forever 21 for online-only ultra-fast fashion.

Products and services

Women's/men's fast-fashion apparel
Beauty & home goods
Marketplace (third-party sellers)

Customers

Young, value-conscious consumers globally
Third-party sellers on its marketplace

Where it sits in the supply chain

Consumer/e-commerce
Fast fashion
Direct-to-consumer online apparel…

What could go right

International e-commerce growth
Marketplace take-rate revenue

What could go wrong

Tariff/de-minimis import rule changes
Labor-practice and regulatory scrutiny

Moat: narrow (scale, data, cost advantage). On-demand small-batch manufacturing and social-media-driven demand data cut markdown risk.

Headquarters: Singapore · Founded: 2008 · Employees: 18,389

Named competitors

Temu (PDD Holdings) PDD
Zara (Inditex) ITX.MC
H&M HM-B.ST
ASOS ASC.L

SHEIN Global at a glance

Size SHEIN Global (0625.HK) is a Hong Kong Industrials company (Miscellaneous) with a market value of $22.0B, the 76th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$40.66 on 6 Nov 2026.

Growth Revenue grew 7.9% over the last twelve months (peer median +12.6%); the operating margin is 4.1% (peer median 23.4%).

Valuation It trades at 0.6× enterprise value to sales against a peer median of 11.2× (cheapest of 6).

Price implies For today's price to make sense, revenue must grow about -5% a year for seven years (Req g). Recent delivered growth is +8%, so the hurdle is -13 pp: the price already allows for a slowdown.

Next results Next results expected around 2 Dec 2026 (exchange calendar; dates can move).

SHEIN Global financials

Reported figures in HKD; fiscal year ends 2025-12-31. TTM = trailing twelve months.
	TTM	FY2025	FY2024	FY2023
Revenue	n/a	HK$326B	HK$302B	HK$251B
Revenue growth	—	+8%	+20%	—
Gross profit	n/a	HK$220B	HK$182B	HK$151B
EBITDA	n/a	HK$16.4B	HK$10.1B	HK$12.2B
Net income	n/a	HK$16.1B	HK$26.3B	HK$21.8B
Free cash flow	n/a	HK$24.8B	HK$13.2B	HK$13.5B
Capital expenditure	n/a	HK$1.74B	HK$2.22B	HK$2.70B
Total debt	HK$127B	HK$149B	HK$150B	HK$167B

Quarterly statements and history in the cockpit →

SHEIN Global competitor charts

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.

Fundamentals: revenue growth against valuation

Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. SHEIN Global is the large dot.

Capital: growth delivered against growth the price implies

Above the diagonal = the price needs more growth than the company has been delivering; below = the price already allows for a slowdown. SHEIN Global is the large dot.

SHEIN Global competitors and peer comparison

Head to head with its named competitors (0625.HK vs PDD vs ITX.MC vs HM-B.ST)
Company	Market cap	6M return	Revenue growth	Op. margin	EV / Sales	Req g
SHEIN Global 0625.HK	$22.0B	n/a	+8%	4%	0.6×	-4.8%
PDD Holdings Inc. Sponsored ADR PDD	$117B	-16%	+14%	22%	0.6×	n/a
Industria de Diseno Textil ITX.MC	$206B	+20%	+6%	20%	4.3×	15.3%
H&M Hennes & Mauritz HM-B.ST	$29.1B	+12%	-4%	9%	1.5×	4.5%
ASOS ASC.L	$670M	+88%	-15%	-1%	0.5×	1.2%

How SHEIN Global compares with its peers

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.

SHEIN Global against its 6 peers (data as of 6 Nov 2026)
Measure	0625.HK	Peer median	Rank in peer set
1-month return	+23.4%	-1.9%	highest of 7
Distance from 52-week high	-16.3%	-30.5%	3rd highest of 7
Revenue growth (TTM)	+7.9%	+12.6%	3rd lowest of 6
Operating margin	4.1%	23.4%	lowest of 6
EV / Sales	0.6×	11.2×	cheapest of 6
Growth the price implies (Req g, 7 yrs)	-4.8%	18.2%	least demanding of 5
Growth delivered (Del g)	+7.9%	+134.6%	2nd lowest of 5
Hurdle (Req g minus delivered)	-12.7 pp	-111.1 pp	2nd most demanding of 5
EV / EBITDA	11.0×	20.5×	3rd cheapest of 6
Net debt / EBITDA	0.5×	3.4×	3rd least indebted of 6

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
Company	Market	Market cap	6M return	Revenue growth	Op. margin	EV / Sales	Req g	Delivered g
SHEIN Global 0625.HK	Hong Kong	$22.0B	n/a	+8%	4%	0.6×	-4.8%	+7.9%
Louis Hachette ALHG.PA	France	$1.97B	+12%	+3%	4%	0.7×	-1.2%	+210.9%
Muninova 547A.T	Japan	$1.19B	-16%	+13%	17%	4.8×	n/a	n/a
Paratus Energy Services PLSV.OL	Norway	$833M	-6%	-58%	23%	17.2×	15.9%	+3.8%
Queen's Road Capital Investment QRC.TO	Canada	$523M	-16%	+33%	759%	18.2×	20.4%	+83.0%
Hanwha Machinery & Service 0220W0.KS	South Korea	$436M	n/a	n/a	n/a	n/a	n/a	n/a
Ashika Global Securities ASHIKAG.NS	India	$339M	-6%	+4,121%	49%	11.2×	26.7%	+186.3%

Questions

Who are SHEIN Global's main competitors?: Named competitors: Temu (PDD Holdings) (PDD), Zara (Inditex) (ITX.MC), H&M (HM-B.ST), ASOS (ASC.L). The cockpit's measured peer set (industry) also includes Louis Hachette (ALHG.PA), Muninova (547A.T), Paratus Energy Services (PLSV.OL), Queen's Road Capital Investment (QRC.TO), Hanwha Machinery & Service (0220W0.KS), Ashika Global Securities (ASHIKAG.NS).
Is SHEIN Global expensive compared with its peers?: On ev / sales it trades at 0.6× against a peer median of 11.2×, cheapest of 6 in its peer set. For today's price to make sense, revenue must grow about -5% a year for seven years (Req g). Recent delivered growth is +8%, so the hurdle is -13 pp: the price already allows for a slowdown.