Aier Eye Hospital Group (300015) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Aier Eye Hospital Group stock ¥10.88, price ¥9.01, upside +20.8%, quality 66 out of 100. Rating: undervalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 3, 2026.
How to read this chart
60‑month range ¥7.77 – ¥40.07 · fair‑value band ¥7.33 – ¥14.14 · the ¥9.01 price screens below the ¥10.88 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 3, 2026.
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Aier Eye Hospital Group Co., Ltd. operates as an ophthalmic medical company in China, Hong Kong, Europe, the United States, Europe, and Southeast Asia.
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It offers diagnosis and treatment of various ophthalmic diseases, surgical services, medical optometry, and lens fitting for fundus diseases, glaucoma, and cataract. The company also provides training courses for cataract cases, ICL surgery, and presbyopia surgery.
Aier Eye Hospital Group Co., Ltd. was founded in 2002 and is headquartered in Changsha, China
Stock analysis
Aier Eye Hospital Group (300015) currently trades at ¥9.01, while our model-based Fair Value estimate is ¥10.88, implying the stock looks roughly 17% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of ¥13.89 per share, and 13 of the 26 models we run sit above the ¥9.01 price.
Bear case: the Dividend Discount group reads lowest at ¥2.76, and 13 of the 26 models stay below the price. Data coverage for this calculation is high.
Scenario range: ¥7.33 (bear) to ¥14.14 (bull), the price of ¥9.01 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 66/100 (solid quality), in the Healthcare sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Aier Eye Hospital Group reported revenue of 22.4B CNY in FY2025 versus 15.0B CNY in FY2021, a compound +10.5%/yr. Reported net income was 3.2B CNY in FY2025, compounding +8.7%/yr from FY2021.
Key figures
Market cap 84.0B CNY (≈ $12.6B) Large · P/E ratio 34.7 · P/S ratio 3.62 · EPS (TTM) ¥0.2600 · Dividend yield 1.1% · Net margin 10.4% · Return on equity 11.0% · Return on assets (EBIT) 14.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 61 out of 100 (low confidence).
What moves the price
The share trades about 26% below its 52-week high and 16% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at −3% fair-value upside, at 21%, 300015 screens cheaper than that median.
Fair Value models
Bear¥7.33Fair Value ¥10.88Bull¥14.14
Price ¥9.01 · Upside +20.8%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (¥0.1359 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.89/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+6.5%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+11.5%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+19.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+18.5%
Dividend (yield on the price)1.1%
Per share before 2022divided by the spin-off factor 1.2992
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.18.5% vs 24.2%, slowing
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.22% → 22%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Price in line with expectations
The price assumes less growth than the company has delivered so far and about what analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+7.2%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+8.4%
Yearly sales growth analysts expect, extended to five years.
After inflation (China: IMF forecast 1.7% a year to 2030, 1.4% from 2016 to 2025) that is about +5.4% a year for the price and +6.7% for the forecasts.
AI conclusion: Specialized eye clinic chain benefits from its integrated 1+8+N model with training and research support, but insufficient public data limits assessment of any durable competitive advantage.
Main risk: Named Chinese chains such as Huaxia Eye Hospital and He Eye Hospital Group are scaling similar hospital networks and could capture market share or force price cuts in China's private eye-care segment where Aier holds the largest but not exclusive position.
Bull case: By leveraging its scale and training hubs Aier could integrate AI diagnostics and digital tools to raise throughput and patient retention while selectively acquiring stronger overseas assets to diversify beyond domestic price pressure.
Bear case: If rival chains and procurement rules erode domestic margins while acquisition goodwill continues to impair, the group could face prolonged profit pressure and slower international scaling despite the Hong Kong listing attempt.
Aier Eye Hospital runs a growing chain of specialized eye clinics supported by its own medical training and research hubs under the 1+8+N model. Recent results showed revenue gains alongside sharper profit declines tied to expansion costs and one-time items, even as the group advances overseas deals and readies a Hong Kong listing. Our models currently see it as undervalued. Will the push into integrated care platforms and international markets lift margins faster than scaling expenses accumulate?
Compare Aier Eye Hospital Group with another stock
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Medical Care Facilities · 235 stocks
Beats the industry median on 8/15 measures
A mixed picture versus its industry peers.
Valuation
Quality Score66 · Top 25%
Fair Value upside+20.8% · Above median
Profitability
Return on equity (12 months)11.0% · Above median
Return on assets8.8% · Top 25%
Net margin (12 months)10.4% · Above median
Operating margin (12 months)26.3% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)7.1% · Above median
Dividend yield (12 months)1.1% · Below median
Balance sheet
Debt / equity0.01× · Lowest 25%
Valuation Multiplesvs Medical Care Facilities median · lower = cheaper
P/E (12 months)34.7× · Pricier than median
P/B3.82× · Priciest 25%
P/S (12 months)3.62× · Priciest 25%
Price / free cash flow (fiscal year)21.7× · Pricier than median
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Aier Eye Hospital Group Fair Value". https://www.fairvalue-calculator.com/stock/300015
Frequently asked questions
Is Aier Eye Hospital Group (300015) overvalued or undervalued?
As of Nov 3, 2026, our model estimates a fair value of ¥10.88 versus a price of ¥9.01, about +21% upside (undervalued).
What is the fair value of 300015?
Our model-based fair value for Aier Eye Hospital Group is ¥10.88 (as of Nov 3, 2026), built from audited fundamentals. The current price: ¥9.01.
What is the quality score of 300015?
Aier Eye Hospital Group has a Quality Score of 66/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Aier Eye Hospital Group (300015)?
Our model-based price target is the fair value of ¥10.88 (as of Nov 3, 2026) from 26 valuation models. Cautious scenario ¥7.33, optimistic scenario ¥14.14. It is a calculation from audited fundamentals, not an analyst target.
What is the Aier Eye Hospital Group stock forecast for 2026?
Our models put fair value at ¥10.88, about +21% upside versus a price of ¥9.01 (undervalued). Cautious scenario ¥7.33, optimistic scenario ¥14.14. The calculation is refreshed regularly with new filings.
What is the revenue of Aier Eye Hospital Group (300015)?
Aier Eye Hospital Group reported trailing-twelve-month revenue of about 23.2B CNY (latest available figure, as of Nov 3, 2026).
Does Aier Eye Hospital Group pay a dividend?
Aier Eye Hospital Group currently shows a dividend yield of 1.11% relative to its recent price (as of Nov 3, 2026).
What growth is priced into Aier Eye Hospital Group (300015)?
For today's price to be fair in a discounted-cash-flow model, Aier Eye Hospital Group would have to grow free cash flow by +7.2 % per year for five years (discount rate 8.7 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +13.4 % per year. As of Nov 3, 2026.
What discount rate (WACC) does the fair value of 300015 use?
Our models discount Aier Eye Hospital Group at 8.7 %: a base by market capitalisation (large), damped by beta 0.47, country premium for China. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Aier Eye Hospital Group that is +7.2 % per year a year over ten years, using the same discount rate (8.7 %) and the same formula as our fair value.
How much growth has Aier Eye Hospital Group (300015) delivered so far?
Over the past 5 years revenue at Aier Eye Hospital Group grew +13.4 % a year. The price currently implies +7.2 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Aier Eye Hospital Group (300015) growing?
The median revenue growth in the sector is +6.2 % a year. That is the yardstick for the growth priced into Aier Eye Hospital Group (+7.2 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Aier Eye Hospital Group (300015)?
The free-cash-flow yield on the price is 4.62 %: that much free cash flow Aier Eye Hospital Group produces per unit of market value. When it exceeds the discount rate of our models (8.7 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Aier Eye Hospital Group (300015)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Aier Eye Hospital Group it is ¥10.88 per share (as of Nov 3, 2026), against a price of ¥9.01. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Aier Eye Hospital Group stock overvalued or undervalued in 2026?
As of Nov 3, 2026, 300015 trades below its calculated fair value: price ¥9.01, fair value ¥10.88, a gap of about +21% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 300015?
No. The price is what the market pays today (¥9.01); the fair value is what the company's own numbers justify (¥10.88). For Aier Eye Hospital Group the two are ¥1.87 per share apart. That gap is exactly why we show both numbers side by side.
How much is Aier Eye Hospital Group worth?
The market values Aier Eye Hospital Group at about 84.0B CNY (market capitalisation, as of Nov 3, 2026). Per share that is ¥9.01; our models calculate a fair value of ¥10.88 per share.
What do the bullish and bearish scenarios say about 300015?
Our models span a range for Aier Eye Hospital Group: cautious scenario ¥7.33, base ¥10.88, optimistic ¥14.14 per share (as of Nov 3, 2026, price ¥9.01). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 300015?
Aier Eye Hospital Group trades at a price-to-earnings ratio of 34.7 (as of Nov 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ¥10.88 is built from several models across several years. Other multiples: PEG 1.7, P/B 3.8, P/S 3.6, EV/EBITDA 13.2.
What is the PEG ratio of 300015?
The PEG ratio of Aier Eye Hospital Group is 1.65 (P/E divided by earnings growth, as of Nov 3, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Aier Eye Hospital Group (300015)?
Balance-sheet figures for Aier Eye Hospital Group (as of Nov 3, 2026): return on equity 11.0%, debt of 0.01 per unit of equity. They feed the Quality Score of 66/100, which measures business quality independently of the share price.
How far is 300015 from its 52-week high?
Aier Eye Hospital Group trades at ¥9.01, about 26% below its 52-week high of ¥12.25 and 16% above the low of ¥7.77 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of ¥10.88 is for.
Which stocks are comparable to Aier Eye Hospital Group?
From the same area (Healthcare) we also value HCA Healthcare, Inc, Fresenius SE, Tenet Healthcare Corporation, Dr. Sulaiman Al Habib Medical Services Group, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Aier Eye Hospital Group stock attractive at the current price?
The data as of Nov 3, 2026: price ¥9.01, calculated fair value ¥10.88 (+21%), Quality Score 66/100, from 26 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 300015 calculated?
We run Aier Eye Hospital Group through 26 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ¥10.88, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.5% above its aggregate fair value. Aier Eye Hospital Group currently trades 17% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Aier Eye Hospital Group (300015)?
The closing price on Nov 6, 2026 was ¥9.01. Our model-based fair value is ¥10.88, about +21% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Aier Eye Hospital Group right now?
Solid quality (66/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (¥7.33 to ¥14.14) leaves room in how you read the outcome.
Where does the earnings growth of Aier Eye Hospital Group (300015) come from?
Earnings per share at Aier Eye Hospital Group grew +27.2 % a year from 2013 to 2024. Broken into its drivers: revenue per share +23.6 %, EBIT margin +2.9 %, tax rate +0.4 %, residual (interest, one-offs) −0.5 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Aier Eye Hospital Group
How large is the market capitalisation of Aier Eye Hospital Group (300015)?
The market capitalisation of Aier Eye Hospital Group is 84.0B CNY (≈ $12.6B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Aier Eye Hospital Group (300015)?
The price-to-sales ratio of Aier Eye Hospital Group is 3.62 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Aier Eye Hospital Group (300015)?
Earnings per share at Aier Eye Hospital Group are ¥0.2600 (price ÷ EPS = P/E 34.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Aier Eye Hospital Group (300015)?
The dividend yield of Aier Eye Hospital Group is 1.1% (payout 38.5%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Aier Eye Hospital Group (300015)?
The net margin of Aier Eye Hospital Group is 10.4% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Aier Eye Hospital Group (300015)?
The return on equity (ROE) of Aier Eye Hospital Group is 11.0% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Aier Eye Hospital Group (300015)?
On an EBIT basis the return on assets of Aier Eye Hospital Group is 14.7% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Aier Eye Hospital Group (300015)?
The operating margin of Aier Eye Hospital Group is 26.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Aier Eye Hospital Group (300015)?
Revenue at Aier Eye Hospital Group is growing +7.1% versus a year earlier (3y avg +11.5%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Aier Eye Hospital Group (300015)?
Earnings per share at Aier Eye Hospital Group are growing −12.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Aier Eye Hospital Group (300015) carry?
The net debt of Aier Eye Hospital Group is 651M CNY (fiscal year 2024, ≈ 0.2 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Nov 3, 2026