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Samsonite International SA (HK:1910)
:1910
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Samsonite International SA
(OTC:1910)
69Neutral
Positive Factors
Shareholder Returns
Analysts maintain a BUY recommendation due to strong cash flows enabling higher shareholder returns through cash dividends and share buybacks, along with growth opportunities from robust tourism enthusiasm.
Shareholder Value
The company's potential dual listing in the US is expected to enhance shareholder value, trading liquidity, and access to global investors, which could lead to a valuation re-rating.
Valuation
Samsonite is significantly undervalued, trading at a big discount compared to other global category leaders.
Negative Factors
Demand Risks
There is a potential for softer demand in the US and Europe due to higher recession risks, trade barriers, and geopolitical tension.
Sales Decline
Sales have fallen by approximately 10% on slower travel, luxury goods demand, and increased local competition in India/China.
US Tariffs
US tariffs weigh on outlook; downgrade to Hold with a new HK$14.62 price target.
Samsonite International SA (1910) vs. S&P 500 (SPY)
Market Cap
$20.61B
Dividend Yield5.63%
Average Volume (3M)11.48M
Price to Earnings (P/E)8.0
Beta (1Y)0.44
Revenue Growth-2.87%
EPS Growth-18.65%
CountryHK
Employees12,100
SectorConsumer Cyclical
Sector Strength64
IndustryApparel - Footwear & Accessories
Share Statistics
EPS (TTM)1.84
Shares Outstanding1,462,365,200
10 Day Avg. Volume8,820,468
30 Day Avg. Volume11,482,356
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)1.61
Price to Cash Flow (P/CF)N/A
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$22.81Price Target Upside57.31% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering6
Samsonite International SA Business Overview & Revenue Model
Company DescriptionFounded in 1910, Samsonite International SA is a leading global luggage manufacturer and retailer. The company specializes in designing and producing a wide range of travel bags, suitcases, and accessories, catering to both leisure and business travelers. With a reputation for innovation, quality, and durability, Samsonite has established itself as a prominent brand in the travel goods sector, offering products that combine functionality with style.
How the Company Makes MoneySamsonite International SA generates revenue primarily through the sale of its travel goods, including suitcases, business bags, and accessories. The company's key revenue streams include retail sales through owned stores, sales through third-party retailers and online platforms, and wholesale distribution. Samsonite's earnings are bolstered by its strategic partnerships with department stores, specialty retailers, and online marketplaces, which expand its market reach. Additionally, the company invests in marketing and product development to maintain its competitive edge and to attract a diverse customer base, which further drives sales and profitability.
Samsonite International SA Financial Statement Overview
Summary
Income Statement
Balance Sheet
Cash Flow
| Breakdown | |||||
| TTM | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 3.67B | 3.68B | 2.88B | 2.02B | 1.54B | 3.64B | Gross Profit |
| 2.20B | 2.18B | 1.61B | 1.10B | 706.30M | 2.02B | EBIT |
| 746.30M | 743.70M | 492.10M | 132.70M | -295.70M | 283.00M | EBITDA |
| 872.00M | 906.70M | 647.50M | 286.20M | -1.01B | 589.00M | Net Income Common Stockholders |
| 428.80M | 417.00M | 312.70M | 23.50M | -1.29B | 132.50M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 151.40M | 730.70M | 635.90M | 1.32B | 1.50B | 462.60M | Total Assets |
| 1.81B | 5.11B | 4.72B | 4.85B | 5.16B | 5.54B | Total Debt |
| 32.30M | 2.30B | 2.39B | 3.22B | 3.72B | 2.41B | Net Debt |
| -119.10M | 1.58B | 1.75B | 1.90B | 2.23B | 1.94B | Total Liabilities |
| 727.06M | 3.59B | 3.64B | 4.13B | 4.49B | 3.54B | Stockholders Equity |
| 1.05B | 1.45B | 1.03B | 689.70M | 634.10M | 1.95B |
| Cash Flow | Free Cash Flow | ||||
| 447.00M | 424.10M | 214.90M | 361.20M | -140.30M | 501.70M | Operating Cash Flow |
| 570.50M | 534.20M | 277.70M | 387.10M | -114.20M | 576.20M | Investing Cash Flow |
| -125.60M | -110.10M | -62.80M | 9.40M | -26.10M | -73.10M | Financing Cash Flow |
| -216.40M | -347.80M | -881.10M | -551.20M | 1.16B | -465.10M |
Samsonite International SA Technical Analysis
Negative
14.50
Price Trends
18.92
Negative
20.34
Negative
20.02
Negative
Market Momentum
-1.51
Negative
39.58
Neutral
47.87
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1910, the sentiment is Negative. The current price of 14.5 is below the 20-day moving average (MA) of 15.67, below the 50-day MA of 18.92, and below the 200-day MA of 20.02, indicating a bearish trend. The MACD of -1.51 indicates Negative momentum. The RSI at 39.58 is Neutral, neither overbought nor oversold. The STOCH value of 47.87 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:1910.
Samsonite International SA Peers Comparison
Overall Rating
UnderperformOutperform
Sector (60)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
81 Outperform | $254.13B | 15.15 | 28.11% | 2.87% | 11.51% | 47.88% | |
74 Outperform | $124.10B | 17.53 | 20.60% | 2.32% | 14.60% | 24.66% | |
69 Neutral | $20.61B | 7.99 | 23.28% | 5.63% | -2.87% | -18.65% | |
60 Neutral | $6.85B | 11.57 | 3.09% | 4.18% | 2.37% | -21.38% | |
46 Neutral | HK$1.99B | ― | -0.99% | 2.20% | -0.16% | -189.58% |
* Consumer Cyclical Sector Average
Performance Comparison
HK:1910
Samsonite International SA
14.50
-12.15
-45.58%
HK:1913
Prada SpA
49.20
-13.02
-20.92%
HK:2020
ANTA Sports Products
92.40
4.91
5.61%
HK:3818
China Dongxiang (Group) Co
0.34
>-0.01
-1.73%
Samsonite International SA Earnings Call Summary
Earnings Call Date: Mar 13, 2025 | % Change Since: -25.64% | Next Earnings Date: May 8, 2025
Earnings Call Sentiment Neutral
The earnings call highlighted strong profitability metrics, cash flow generation, and strategic store expansions, alongside advancements in sustainability. However, challenges in North America and India, coupled with flat overall sales and macroeconomic uncertainties, present a balanced outlook.Highlights
Record EBITDA Margin
Achieved Q4 adjusted EBITDA of $195 million, a record EBITDA margin of 20.7%, up 160 basis points from Q4 2023.
Strong Cash Flow Generation
Generated $311 million of free cash flow for the year, up $26 million from the prior year.
Continued Store Expansion
Added 67 new stores in 2024, enhancing brand presence and consumer experience globally.
Sustainability Progress
40% of products now incorporate recycled materials, up from 34% last year.
Improvement in DTC Channel
Net sales from the DTC channel increased, contributing to higher gross margins.
Lowlights
Decline in North American Sales
North America sales down 1.2% for the year due to shifts in wholesale customer behavior and reduced full-price traffic.
Challenges in India
India sales down 18.3% for the year due to competitive dynamics, impacting overall brand performance.
Impact of Macroeconomic Uncertainty
Uncertainty in consumer demand and macroeconomic conditions, particularly in North America, affecting sales forecasts.
Flat Overall Sales
Overall sales for 2024 were roughly flat compared to 2023, despite growth in certain regions and segments.
Company Guidance
During the Samsonite Group's 2024 Annual Results Conference Call, CEO Kyle Gendreau reported a Q4 net sales increase of 1% in constant currency, totaling $942 million, with a robust gross margin of 60.2%, up 30 basis points from the previous year. The company achieved a record Q4 adjusted EBITDA margin of 20.7%, an increase of 160 basis points year-over-year, and generated $135 million in free cash flow, up $3 million from Q4 2023. Regional performance varied, with North America growing by 3.9%, Europe by 5.6%, and Latin America by 14%, while Asia remained negative at -6%, though improvements were noted in China and India. Samsonite and Tumi brands saw Q4 sales growth of 4.6% and 4.4%, respectively, while American Tourister faced challenges, particularly in India. The company maintained strong expense management, with distribution and G&A expenses reduced by $2 million despite adding 67 new stores. Looking forward, Samsonite anticipates further sequential sales improvements in 2025, driven by strategic investments in brand elevation and non-travel product categories.Samsonite International SA Corporate Events
Samsonite to Review Quarterly Financial Results on May 13, 2025
Apr 14, 2025
Samsonite International SA has announced that its board of directors will meet on May 13, 2025, to review and approve the company’s quarterly financial results for the period ending March 31, 2025. This meeting is significant as it will provide insights into the company’s financial health and operational performance, potentially impacting its market position and stakeholder confidence.
Samsonite Proposes Significant RSU Grant to CEO
Apr 10, 2025
Samsonite International SA has announced a proposed grant of Restricted Stock Units (RSUs) to its Chief Executive Officer, Kyle Francis Gendreau, under the Share Award Scheme. The grant, which exceeds the 0.1% individual threshold, is valued at US$7,316,350 and will be subject to shareholder approval at the upcoming Annual General Meeting. This move is indicative of the company’s commitment to aligning executive compensation with performance and shareholder interests, potentially impacting the company’s operational focus and stakeholder engagement.
Samsonite Announces 2024 Cash Dividend
Mar 13, 2025
Samsonite International SA has announced a cash dividend of USD 0.1074 per share for the financial year ending December 31, 2024. The dividend is subject to a 15% Luxembourg withholding tax and will be paid on July 15, 2025, following shareholder approval on June 3, 2025. This announcement reflects the company’s ongoing commitment to returning value to its shareholders, potentially enhancing its attractiveness to investors.
Samsonite Announces 2024 Year-End Results, Highlights Strategic Growth Initiatives
Mar 13, 2025
Samsonite International SA has announced its final results for the year ended December 31, 2024, highlighting its strategic focus on maintaining robust margins and expanding its direct-to-consumer channels, including retail stores and e-commerce platforms. The company is committed to leveraging its competitive advantages and innovative product design to enhance its market position, while also focusing on sustainability and local market preferences to drive growth.
Samsonite Group S.A. Announces Corporate Name Change
Mar 4, 2025
Samsonite Group S.A. has officially changed its corporate name from Samsonite International S.A. to Samsonite Group S.A., following shareholder approval at an Extraordinary General Meeting. This change, effective January 23, 2025, has been registered in Hong Kong and Luxembourg, and will not impact shareholder rights or the company’s daily operations and financial position. Existing share certificates remain valid, and new certificates will be issued under the new name starting March 7, 2025.
Samsonite to Review 2024 Financial Results and Consider Shareholder Distribution
Feb 24, 2025
Samsonite International S.A. announced that its board of directors will meet on March 12, 2025, to consider and approve the company’s final results for the year ending December 31, 2024. The meeting will also address the potential recommendation of a cash distribution to shareholders, reflecting the company’s commitment to returning value to its investors.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.