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Employees: 22,376
Size Topsports International (6110.HK) is a Hong Kong Consumer Discretionary company (Apparel/Footwear Retail) with a market value of $882M, the 622nd largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$1.11 on 6 Nov 2026.
Performance Over six months the shares fell 62.2%, against -6.6% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — lowest of 20 in its peer set.
Growth Revenue fell 3.4% over the last twelve months (peer median +6.0%); the operating margin is 5.4% (peer median 7.4%).
Valuation It trades at 6.1× forward earnings against a peer median of 14.9× (cheapest of 17).
Price implies For today's price to make sense, revenue must grow about -21% a year for seven years (Req g). Recent delivered growth is -7%, so the hurdle is -14 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 5.6 points above its cost of capital (7.2% WACC).
Next results Next results expected around 26 May 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$27.4B | HK$28.1B | HK$29.2B | HK$31.7B | HK$31.2B |
| Revenue growth | — | -4% | -8% | +2% | — |
| Gross profit | HK$8.85B | HK$9.28B | HK$9.64B | HK$11.4B | HK$10.4B |
| EBITDA | HK$2.92B | HK$3.14B | HK$3.27B | HK$4.80B | HK$5.10B |
| Net income | HK$1.29B | HK$1.39B | HK$1.39B | HK$2.42B | HK$2.12B |
| Free cash flow | HK$3.43B | HK$2.72B | HK$3.72B | HK$3.22B | HK$4.64B |
| Capital expenditure | HK$291M | HK$311M | HK$403M | HK$435M | HK$411M |
| Total debt | n/a | HK$3.98B | HK$4.34B | HK$2.95B | HK$4.76B |
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 | 6110.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +8.2% | +2.5% | 4th highest of 21 |
| 6-month return | -62.2% | -6.6% | lowest of 20 |
| Distance from 52-week high | -68.1% | -26.1% | lowest of 21 |
| Revenue growth (TTM) | -3.4% | +6.0% | 3rd lowest of 21 |
| Operating margin | 5.4% | 7.4% | 5th lowest of 20 |
| Forward P/E | 6.1× | 14.9× | cheapest of 17 |
| Growth the price implies (Req g, 7 yrs) | -20.9% | 7.6% | 2nd least demanding of 16 |
| Growth delivered (Del g) | -7.2% | +8.5% | 2nd lowest of 15 |
| Hurdle (Req g minus delivered) | -13.7 pp | -10.5 pp | 5th least demanding of 15 |
| ROIC minus cost of capital | +5.6 pp | -0.2 pp | 6th highest of 19 |
| EV / EBITDA | 2.4× | 8.0× | cheapest of 18 |
| Net debt / EBITDA | 0.0× | 1.9× | 6th least indebted of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Topsports International 6110.HK | Hong Kong | $882M | -62% | -3% | 5% | 6.1× | -20.9% | -7.2% |
| Brainbees Solutions FIRSTCRY.NS | India | $883M | -33% | +12% | -2% | 194.4× | 20.1% | +39.8% |
| AND ST HD 2685.T | Japan | $900M | +2% | +3% | 6% | 12.0× | -15.3% | +10.6% |
| AOKI 8214.T | Japan | $912M | +10% | 0% | 8% | n/a | -5.3% | +6.3% |
| Winmark WINA | United States | $944M | -29% | +9% | 60% | 23.9× | 7.7% | +5.4% |
| Aditya Birla Lifestyle Brands ABLBL.NS | India | $995M | -35% | +7% | 7% | 32.4× | 22.2% | n/a |
| Reformation REF | United States | $1.07B | n/a | +16% | 6% | 57.7× | n/a | n/a |
| Nishimatsuya Chain 7545.T | Japan | $725M | -6% | +5% | 5% | 13.8× | -21.2% | +3.9% |
| AOYAMA TRADING 8219.T | Japan | $704M | -7% | -2% | 6% | 13.3× | -1.6% | +3.2% |
| V2 Retail V2RETAIL.NS | India | $672M | -20% | +49% | 9% | 20.2× | n/a | n/a |
| Carter's CRI | United States | $1.17B | -9% | +5% | 10% | 9.9× | -13.2% | -0.8% |
| Redtape REDTAPE.NS | India | $624M | -18% | +14% | 14% | n/a | 10.2% | +18.1% |
| RVRC RVRC.ST | Sweden | $596M | -1% | +5% | 21% | 14.4× | 7.6% | +17.6% |
| boohoo DEBS.L | United Kingdom | $526M | +46% | +120% | 0% | 29.6× | n/a | n/a |
| Aditya Birla Fashion and Retail ABFRL.NS | India | $503M | -42% | -27% | -8% | n/a | n/a | n/a |
| Premier Investments PMV.AX | Australia | $1.57B | +22% | -3% | 14% | 14.9× | 9.4% | -11.0% |
| PAL 2726.T | Japan | $1.58B | -4% | +7% | 11% | 13.6× | -15.4% | +16.7% |
| Arvind Fashions ARVINDFASN.NS | India | $486M | -25% | +13% | 8% | 26.8× | 16.6% | +22.5% |
| Shenzhen Pengfei Green Energy Development 002356.SZ | China | $458M | -29% | -23% | n/a | n/a | n/a | n/a |
| Lindex LINDEX.HE | Finland | $456M | +16% | +4% | 7% | 12.4× | -7.2% | +3.8% |
| OVS OVS.MI | Italy | $1.74B | +15% | +10% | 7% | 14.8× | 12.8% | +11.4% |