<div id="readability-page-1"><div><p>Samsonite Group (SEHK:1910) has wrapped up FY 2025 with fourth quarter revenue of US$963.3 million and basic EPS of US$0.07, while trailing twelve month revenue came in at about US$3.5 billion with EPS of roughly US$0.21. Over the past few quarters, revenue has ranged from US$796.6 million to US$963.3 million and quarterly EPS has moved between US$0.04 and US$0.07, giving investors a clear read on how sales and earnings are tracking into the current pricing of HK$15.21. With trailing net profit margin at 8.3% versus 9.6% last year, the story this season is about how much of that top line Samsonite is turning into profit and what that means for the durability of its earnings story.</p> <p>See our full analysis for Samsonite Group.</p><p>With the headline numbers on the table, the next step is to see how this earnings print lines up with the widely followed narratives around Samsonite's growth potential, risks, and profitability profile.</p> <p>See what the community is saying about Samsonite Group</p> <figure><img height="476" src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/96da34f3-64d8-4c5f-9131-276b1a87cbf0/chart/revenue-and-expenses-breakdown/query-ZGF0ZT0yMDI2LTAzLTIx?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="746" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/96da34f3-64d8-4c5f-9131-276b1a87cbf0/chart/revenue-and-expenses-breakdown/query-ZGF0ZT0yMDI2LTAzLTIx"/><figcaption>SEHK:1910 Revenue &amp; Expenses Breakdown as at Mar 2026</figcaption></figure> <h2>Margins Ease Back From 9.6% To 8.3%</h2> <ul> <li>Trailing net profit margin stands at 8.3% compared with 9.6% a year earlier, alongside trailing net income of US$289 million on US$3.5b of revenue.</li> <li>Consensus narrative expects higher margins over time, yet the recent step down raises questions:     <ul> <li>Analysts see margins moving from about 8.5% to 9.0% in three years. The latest trailing margin of 8.3% points to recent compression instead of expansion.</li> <li>Revenue is forecast to grow about 3.9% a year and earnings about 6.4% a year. Any further margin pressure could make that earnings path harder to achieve on current sales trends.</li> </ul> </li> </ul> <h2>EPS Trend Slower Than Five Year History</h2> <ul> <li>Trailing EPS sits around US$0.21, with quarterly EPS in FY 2025 ranging between US$0.04 and US$0.07, set against a five year record where reported earnings grew 53.4% per year.</li> <li>Bulls point to future EPS growth, but the current pattern is more muted:     <ul> <li>Bullish analysts are looking for earnings to climb from roughly US$294.4 million to US$460.2 million by 2028. Trailing net income is US$289 million, which is close to the starting point and not yet moving toward that target in the provided data.</li> <li>Bulls also expect margins to rise to 10.9%. The current 8.3% margin shows the business is some distance from that level, so the recent numbers do not yet heavily support the bullish margin story.</li> </ul> </li> </ul><p> Have a look at how that optimistic case is built around the numbers in more detail with <strong>🐂 Samsonite Group Bull Case</strong></p><h2>Valuation Sits Between DCF And Targets</h2> <ul> <li>At HK$15.21, the stock trades on a trailing P/E of 9.3x, slightly above the Hong Kong Luxury industry at 9.0x, below peers at 11.3x, below the wider Hong Kong market at 11.7x, and above a DCF fair value of HK$14.73.</li> <li>Bears argue the recent run and softer growth profile could limit upside from here:     <ul> <li>Revenue is forecast to grow 3.9% a year and earnings 6.4% a year, both below Hong Kong market forecasts of 8.3% and 11.9% a year respectively. This lines up with a cautious view on how fast the business can grow into a higher multiple.</li> <li>The company carries high debt and an unstable dividend track record. If growth stays below the market while leverage remains elevated, the bear narrative that the P/E could drift toward more conservative levels is not fully challenged by the current data.</li> </ul> </li> </ul><p> Skeptics focus on these gaps between price, DCF fair value, and slower growth when they outline the cautious case for Samsonite, which you can see unpacked in <strong>🐻 Samsonite Group Bear Case</strong></p><h2>Next Steps</h2> <p>To see how these results tie into long-term growth, risks, and valuation, check out the full range of community narratives for Samsonite Group on Simply Wall St. Add the company to your watchlist or portfolio so you'll be alerted when the story evolves.</p> <p>With both risks and rewards in view, the real question is how this mix fits your own approach and time horizon. Take a moment to review the data in detail, weigh the upside against the concerns, and decide where you stand with 3 key rewards and 2 important warning signs.</p> <h2>See What Else Is Out There</h2> <p>Samsonite's softer margins, slower earnings trend versus past records, and high debt with an unstable dividend track record highlight some clear pressure points in the story.</p> <p>If those issues make you cautious, compare this setup with companies screened for stronger balance sheets and fundamentals by checking out the solid balance sheet and fundamentals stocks screener (382 results) today.</p> <p><em> This article by Simply Wall St is general in nature. <strong>We provide commentary based on historical data     and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice.</strong> It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your     financial situation. We aim to bring you long-term focused analysis driven by fundamental data.     Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.     Simply Wall St has no position in any stocks mentioned.</em></p><div><h3><strong>New: </strong>Manage All Your Stock Portfolios in One Place</h3><p>We've created the <strong>ultimate portfolio companion</strong> for stock investors, <strong>and it's free.</strong></p><p>• Connect an unlimited number of Portfolios and see your total in one currency<br/>• Be alerted to new Warning Signs or Risks via email or mobile<br/>• Track the Fair Value of your stocks<br/></p><p>Try a Demo Portfolio for Free</p></div></div></div>

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<p>Samsonite Group (SEHK:1910) reported FY 2025 Q4 revenue of US$963.3 million and EPS of US$0.07, with trailing revenue at US$3.5 billion and EPS of US$0.21. The trailing net profit margin decreased to 8.3% from 9.6% last year, raising concerns about future earnings growth. Analysts predict revenue growth of 3.9% and earnings growth of 6.4% annually, but high debt and a weak dividend history pose risks. The stock trades at a trailing P/E of 9.3x, slightly above the industry average, but bears caution against slower growth and margin compression.</p>

Samsonite Group SEHK 1910 Margin Compression Tests Bullish Earnings Narrative