Established in 1989, Li Ning is one of the largest sportswear companies in China. Headquartered in Beijing, Li Ning mainly sells professional and leisure footwear and apparel under the Li Ning brand. Despite having a single-brand strategy, Li Ning launched multiple sub-brands (such as China Li Ning and Li Ning 1990) to appeal to different demographics. As of the end of 2021, the company had 7,137 stores in China, of which 1,232 were directly operated, and 5,905 were franchised.

Financial Strength

9/10

Name	Current	Vs Industry
Cash-To-Debt	3.52
Equity-to-Asset	0.71
Debt-to-Equity	0.1
Debt-to-EBITDA	0.57
Interest Coverage	21.04
Piotroski F-Score	6/9	0 1 2 3 4 5 6 7 8 9
Altman Z-Score	5.04	Distress Grey Safe
Beneish M-Score	-2.58	Manipulator Not Manipulator
WACC vs ROIC		WACC ROIC

Growth Rank

10/10

	Name	Current	Vs Industry		Vs History
	3-Year Revenue Growth Rate	19.4
	3-Year EBITDA Growth Rate	19.3
	3-Year EPS without NRI Growth Rate	17.4
	3-Year FCF Growth Rate	8.3
	3-Year Book Growth Rate	35.4
	Future 3-5Y EPS without NRI Growth Rate	-0.8
	Future 3-5Y Total Revenue Growth Rate	10.7

Momentum Rank

2/10

	Name	Current	Vs Industry		Vs History
	5-Day RSI	80.45
	9-Day RSI	68.58
	14-Day RSI	61.66
	6-1 Month Momentum %	-19.19
	12-1 Month Momentum %	-63.41

Liquidity Ratio

	Name	Current	Vs Industry		Vs History
	Current Ratio	1.88
	Quick Ratio	1.54
	Cash Ratio	1.23
	Days Inventory	60.56
	Days Sales Outstanding	15.2
	Days Payable	42.28

Dividend & Buy Back

	Name	Current	Vs Industry		Vs History
	Dividend Yield %	4.25
	Dividend Payout Ratio	0.69
	3-Year Dividend Growth Rate	70.6
	Forward Dividend Yield %	2.81
	5-Year Yield-on-Cost %	4.25
	3-Year Average Share Buyback Ratio	-1.5
	Shareholder Yield %	3.08

Profitability Rank

8/10

	Name	Current	Vs Industry		Vs History
	Gross Margin %	48.38
	Operating Margin %	12.23
	Net Margin %	11.55
	FCF Margin %	10.41
	ROE %	12.81
	ROA %	9.3
	ROIC %	10.57
	ROC (Joel Greenblatt) %	73.12
	ROCE %	16.21
	Years of Profitability over Past 10-Year	9

GF Value Rank

2/10

	Name	Current	Vs Industry		Vs History
	PE Ratio	15.72
	Forward PE Ratio	15.5
	PE Ratio without NRI	16.05
	Shiller PE Ratio	30.98
	Price-to-Owner-Earnings	12.14
	PEG Ratio	0.41
	PS Ratio	1.82
	PB Ratio	2.04
	Price-to-Tangible-Book	2.07
	Price-to-Free-Cash-Flow	17.41
	Price-to-Operating-Cash-Flow	10.66
	EV-to-EBIT	9.86
	EV-to-Forward-EBIT	11.22
	EV-to-EBITDA	9.69
	EV-to-Forward-EBITDA	8.27
	EV-to-Revenue	1.58
	EV-to-Forward-Revenue	1.56
	EV-to-FCF	15.16
	Price-to-Projected-FCF	0.86
	Price-to-Median-PS-Value	0.87
	Price-to-Peter-Lynch-Fair-Value	0.64
	Price-to-Graham-Number	1.22
	Price-to-Net-Current-Asset-Value	13.2
	Earnings Yield (Greenblatt) %	10.14
	FCF Yield %	5.76
	Forward Rate of Return (Yacktman) %	25.88

GF Value: €8.22

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