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Employees: 2,840
Size Shanghai Forest Cabin Cosmetics (2657.HK) is a Hong Kong Consumer Staples company (Household/Personal Care) with a market value of $1.06B, the 582nd largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$58.85 on 6 Nov 2026.
Performance Over six months the shares fell 0.2%, against +8.2% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 10th lowest of 21 in its peer set.
Growth Revenue grew 73.6% over the last twelve months (peer median +9.4%); the operating margin is 17.8% (peer median 8.9%).
Valuation It trades at 12.1× forward earnings against a peer median of 19.4× (3rd cheapest of 21).
Price implies For today's price to make sense, revenue must grow about 11% a year for seven years (Req g). Recent delivered growth is +49%, so the hurdle is -37 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 54.5 points above its cost of capital (16.0% WACC).
Next results Next results expected around 24 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$3.24B | HK$2.66B | HK$1.31B | HK$890M | HK$804M |
| Revenue growth | — | +103% | +47% | +11% | — |
| Gross profit | HK$2.65B | HK$2.18B | HK$996M | HK$636M | HK$532M |
| EBITDA | HK$705M | HK$555M | HK$307M | HK$183M | HK$50.0M |
| Net income | HK$487M | HK$391M | HK$203M | HK$93.4M | -HK$6.83M |
| Free cash flow | HK$570M | HK$362M | HK$223M | HK$138M | -HK$21.6M |
| Capital expenditure | HK$87.0M | HK$84.5M | HK$97.9M | HK$102M | HK$98.3M |
| Total debt | n/a | HK$171M | HK$137M | HK$77.2M | HK$46.3M |
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.
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 | 2657.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -0.2% | +1.6% | 10th lowest of 21 |
| 6-month return | -0.2% | +8.2% | 10th lowest of 21 |
| Distance from 52-week high | -38.7% | -26.4% | 5th lowest of 21 |
| Revenue growth (TTM) | +73.6% | +9.4% | highest of 21 |
| Operating margin | 17.8% | 8.9% | 4th highest of 21 |
| Forward P/E | 12.1× | 19.4× | 3rd cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | 11.5% | 2.9% | 5th most demanding of 19 |
| Growth delivered (Del g) | +49.0% | +8.5% | 2nd highest of 19 |
| Hurdle (Req g minus delivered) | -37.5 pp | -6.5 pp | 2nd least demanding of 19 |
| ROIC minus cost of capital | +54.5 pp | +5.2 pp | 2nd highest of 21 |
| EV / EBITDA | 9.4× | 10.8× | 2nd cheapest of 13 |
| Net debt / EBITDA | -2.5× | -1.0× | 2nd least indebted of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shanghai Forest Cabin Cosmetics 2657.HK | Hong Kong | $1.06B | 0% | +74% | 18% | 12.1× | 11.5% | +49.0% |
| SYoung 300740.SZ | China | $1.00B | -37% | +14% | 3% | 39.6× | 18.1% | +6.1% |
| Noevir 4928.T | Japan | $977M | +3% | +1% | 16% | 19.4× | -4.8% | +4.5% |
| Tongling Jieya Biologic Technology 301108.SZ | China | $961M | +47% | +54% | 7% | 54.0× | n/a | n/a |
| Dencare (Chongqing) Oral Care 001328.SZ | China | $944M | +15% | +10% | 11% | 28.9× | 4.3% | +10.8% |
| Runben Biotechnology 603193.SS | China | $940M | -33% | +13% | 21% | 18.9× | 1.7% | +28.4% |
| Shanghai Chicmax Cosmetics 2145.HK | Hong Kong | $1.22B | -52% | +23% | 8% | 15.0× | -5.9% | +21.2% |
| Edgewell Personal Care EPC | United States | $1.29B | +32% | -7% | 6% | 12.4× | 4.1% | +2.7% |
| d'Alba Global 483650.KS | South Korea | $1.32B | -37% | +55% | 21% | 13.6× | -2.2% | +53.0% |
| Galaxy Surfactants GALAXYSURF.NS | India | $819M | +13% | +30% | 9% | 18.6× | 18.0% | +13.7% |
| Cosmecca Korea 241710.KS | South Korea | $798M | +25% | +44% | 13% | 14.4× | -5.9% | +13.6% |
| Guangdong Marubi Biotechnology 603983.SS | China | $1.45B | -4% | -6% | 2% | 37.0× | n/a | n/a |
| Jyothy Labs JYOTHYLAB.NS | India | $773M | -23% | +5% | 8% | 30.9× | 35.0% | +8.9% |
| Chongqing Baiya Sanitary Products 003006.SZ | China | $1.49B | +25% | 0% | 3% | 41.2× | 30.6% | +22.8% |
| Intercos ICOS.MI | Italy | $1.50B | +16% | -5% | 9% | 19.5× | 4.5% | +11.5% |
| Hangzhou Haoyue Personal Care 605009.SS | China | $750M | -19% | +10% | 6% | 17.7× | 4.7% | +7.7% |
| AMOREPACIFIC 002790.KS | South Korea | $1.55B | -3% | +9% | 9% | 8.4× | -17.9% | -1.3% |
| Harbin Fuerjia Technology 301371.SZ | China | $1.58B | -30% | +28% | 20% | 22.5× | 8.7% | +3.6% |
| Energizer ENR | United States | $1.63B | +26% | +2% | 16% | 7.2× | -5.2% | +1.5% |
| Pigeon 7956.T | Japan | $1.66B | +30% | +7% | 13% | 26.3× | -1.3% | +1.9% |
| Milbon 4919.T | Japan | $669M | +30% | +6% | 13% | 22.9× | -3.1% | +8.2% |