Unitree Robotics IPO Valuation Analysis
My base case valuation of Unitree Robotics IPO is implied market cap of 106.9 billion RMB, which is 155% higher than the company’s target valuation of 42 billion RMB.
My base case valuation is based on P/E of 81.9x (30% premium to the comps) using my estimated net profit of 1.3 billion RMB for the company in 2028.
Unitree Robotics is one of the major leaders in the humanoid and quadruped robotics industry in China.
