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Beijing Wantai Biological Pharmacy Enterprise Co Ltd (603392) fair value: what the stock is really worth

As of Nov 10, 2026: fair value (intrinsic value) of Beijing Wantai Biological Pharmacy Enterprise Co Ltd stock ¥17.92, price ¥24.40, that is 26.6% below the price, quality 43 out of 100. Rating: overvalued. The value is an estimate: none of our valuation models currently carries, it draws on revenue and assets compared with similar companies. Updated daily.

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Healthcare CN · ISIN CNE100004090

BW Beijing Wantai Biological Pharmacy Enterprise Co Ltd logo Thin data Nov 10, 2026

Beijing Wantai Biological Pharmacy Enterprise Co Ltd

603392 · SHG
Expensive, weak quality

Our calculation puts a fair price 27% below what the stock costs today.

Low debt
Ranks above peers (7/10)
Quality 43/100
Revenue last quarter 12% below a year ago.
Fair value ¥17.92 · Overvalued
Weak Growth (revenue 5y −5.0 %/yr in CNY)
Loss-making · -23.5% net margin (TTM)
Negative free cash flow
Narrow moat 20/100
Thin data
Estimate⚠ Small free float
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

¥142.90 ¥23.05 Fair Value ¥17.92 Jun 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 10, 2026.

How to read this chart

60‑month range ¥23.05 – ¥142.90 · fair‑value band ¥13.44 – ¥22.39 · the ¥24.40 price screens above the ¥17.92 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 10, 2026.

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Company profile

Beijing Wantai Biological Pharmacy Enterprise Co., Ltd. research, develops, produces, and sells biological diagnostic tests and vaccines in China and internationally.

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The company offers in vitro diagnostics and automated laboratory instruments, including Wan600, Wan BC2800, WanTLA immunoassay and biochemistry analyzers; chemiluminescence and biochemistry tests, including novel diagnostic tests for detection of Hepatitis virus infections; P-85 Ab for nasopharyngeal cancer screening; and TB-IGRA for large population screening.

It also provides diagnostic assays, such as high-value Hepatitis B core antibody tests, Hepatitis E Urine tests, Hepatitis D virus detection, IL-6, HIV 4th generation CLIA, Helicobacter pylori antibody, gastrin-17, and soluble transferrin receptor assays; and enzyme-linked immunosorbent assay (ELISA), colloidal gold, molecular, clinical laboratory quality control products, and bioactive materials for various infectious diseases, such as HIV, Hepatitis, Tuberculosis, and Influenza A/B. In addition, the company offers core diagnostic solutions comprising chronic disease management, integrated Hepatitis E screening and prevention, full lifecycle women's health programs, and intelligent laboratory services.

Further, it provides medical instruments, diagnostic tests, quality control products, bioactive materials, and diagnostics solutions; and HPV, Hepatitis E, and Nasal Spray COVID-19 vaccines. The company was founded in 1991 and is headquartered in Beijing, China.

Beijing Wantai Biological Pharmacy Enterprise Co., Ltd. is a subsidiary of Yangshengtang Co., Ltd.

Stock analysis

Beijing Wantai Biological Pharmacy Enterprise Co Ltd (603392) currently trades at ¥24.40, while our estimate is ¥17.92, 27% below the price, so the stock looks overvalued today.

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Valuation

None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Scenario range: ¥13.44 (bear) to ¥22.39 (bull), the price of ¥24.40 sits above 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 43/100 (below-average quality), in the Healthcare sector.

Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.

Beijing Wantai Biological Pharmacy Enterprise Co Ltd reported revenue of 1.8B CNY in FY2025 versus 5.8B CNY in FY2021, a compound −25.0%/yr. Reported net income was −398M CNY in FY2025.

Key figures

Market cap 30.9B CNY (≈ $4.6B) Mid · P/S ratio 15.1 · EPS (TTM) ¥−0.3500 · Net margin −23.5% · Return on equity −3.9% · Return on assets (EBIT) 14.8% (5-year average) · Operating margin 2.2% · Revenue (TTM) 1.9B CNY.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 20 out of 100 (medium confidence).

What moves the price

The share trades about 56% below its 52-week high and 6% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Healthcare peers we cover trades at −7% fair-value upside, at −27%, 603392 screens richer than that median.

Fair Value

Bear ¥13.44 Fair Value ¥17.92 Bull ¥22.39
Price ¥24.40 · Downside -26.6%
Estimate. None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Quality Score breakdown

Overall quality 43/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 5
How much profit the company makes from its sales and capital
Quality Growth 12
Are margins and returns getting better?
Cashflow 10
Do the profits arrive as real cash?
Financial strength 89
Debt, balance sheet and risk of trouble
Investment 67
Does it invest with discipline instead of growing at any price?
Low Volatility 64
How calm the share price moves, does not count
Price momentum 9
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 2
Distance to the 52-week high, does not count
New shares 90
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

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. 0/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−19.0%
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.
−45.4%
Revenue growth 5 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.
−5.0%
Start year 2020 (pandemic). Over 10 years: +10.3% a year
Revenue growth 12 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.
+11.4%
Profit margin (trend) ⓘ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.
32.9% (2020) → −23.4% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

603392 screens overvalued: fair value 27% below the price. Compare with Vertex Pharmaceuticals Incorporated →

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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.Biotechnology · 849 stocks

Beats the industry median on 6/9 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 43 · Above median
Fair Value upside −26.6% · Above median
Profitability
Return on assets −2.8% · Above median
Net margin (12 months) −23.5% · Below median
Operating margin (12 months) 2.2% · Above median
Growth and dividend
Revenue growth (quarter YoY) −12.3% · Bottom 25%
Balance sheet
Debt / equity 0.01× · Below median

Valuation Multiplesvs Biotechnology median · lower = cheaper

P/B 2.60× · Cheaper than median
P/S (12 months) 15.88× · Pricier than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 0
FUTURE (revenue growth)0 · sector 0
PAST (return on equity)0 · sector 0
HEALTH (low debt)100 · sector 96
DIVIDEND (yield)0 · sector 20

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Biotechnology stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Regeneron Pharmaceuticals, Inc REGN $916.06 $1,275 +39% vs 603392
Samsung Biologics Co 207940 1,468,000 KRW 1,661,000 KRW +13% vs 603392
Vertex Pharmaceuticals Incorporated VRTX $547.89 $601.80 +10% vs 603392
Genmab A/S GMAB kr 3,581 kr 3,880 +8% vs 603392
argenx SE ARGX $971.55 $908.40 −7% vs 603392
CSL Limited CSL A$201.68 A$181.40 −10% vs 603392
Moderna, Inc MRNA $250.83 $158.70 −37% vs 603392
BeOne Medicines AG 6160 HK$252.20 HK$152.80 −39% vs 603392
Celltrion, Inc 068270 203,000 KRW 74,945 KRW −63% vs 603392
Royalty Pharma plc RPRX $69.45 $19.01 −73% vs 603392

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Beijing Wantai Biological Pharmacy Enterprise Co Ltd: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Beijing Wantai Biological Pharmacy Enterprise Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/603392

Frequently asked questions

Is Beijing Wantai Biological Pharmacy Enterprise Co Ltd (603392) overvalued or undervalued?
As of Nov 10, 2026, our estimate of fair value is ¥17.92 versus a price of ¥24.40, about 27% lower (overvalued).
What is the fair value of 603392?
Our estimate for Beijing Wantai Biological Pharmacy Enterprise Co Ltd is ¥17.92 (as of Nov 10, 2026), built from audited fundamentals. The current price: ¥24.40.
What is the quality score of 603392?
Beijing Wantai Biological Pharmacy Enterprise Co Ltd has a Quality Score of 43/100. 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 Beijing Wantai Biological Pharmacy Enterprise Co Ltd (603392)?
Our calculated price target is the estimate of ¥17.92 (as of Nov 10, 2026). Cautious scenario ¥13.44, optimistic scenario ¥22.39. It is an estimate from revenue and assets compared with similar companies, because none of our valuation models currently carries, not an analyst target.
What is the Beijing Wantai Biological Pharmacy Enterprise Co Ltd stock forecast for 2026?
Our estimate puts fair value at ¥17.92, about 27% lower versus a price of ¥24.40 (overvalued). Cautious scenario ¥13.44, optimistic scenario ¥22.39. The calculation is refreshed regularly with new filings.
What is the revenue of Beijing Wantai Biological Pharmacy Enterprise Co Ltd (603392)?
Beijing Wantai Biological Pharmacy Enterprise Co Ltd reported trailing-twelve-month revenue of about 1.9B CNY (latest available figure, as of Nov 10, 2026).
What is the intrinsic value of Beijing Wantai Biological Pharmacy Enterprise Co Ltd (603392)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Beijing Wantai Biological Pharmacy Enterprise Co Ltd it is ¥17.92 per share (as of Nov 10, 2026), against a price of ¥24.40.
Is Beijing Wantai Biological Pharmacy Enterprise Co Ltd stock overvalued or undervalued in 2026?
As of Nov 10, 2026, 603392 trades above its calculated fair value: price ¥24.40, fair value ¥17.92, a gap of about −27% (overvalued). 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 603392?
No. The price is what the market pays today (¥24.40); the fair value is what the company's own numbers justify (¥17.92). For Beijing Wantai Biological Pharmacy Enterprise Co Ltd the two are ¥6.48 per share apart. That gap is exactly why we show both numbers side by side.
How much is Beijing Wantai Biological Pharmacy Enterprise Co Ltd worth?
The market values Beijing Wantai Biological Pharmacy Enterprise Co Ltd at about 30.9B CNY (market capitalisation, as of Nov 10, 2026). Per share that is ¥24.40; our models calculate a fair value of ¥17.92 per share.
What do the bullish and bearish scenarios say about 603392?
Our models span a range for Beijing Wantai Biological Pharmacy Enterprise Co Ltd: cautious scenario ¥13.44, base ¥17.92, optimistic ¥22.39 per share (as of Nov 10, 2026, price ¥24.40). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Beijing Wantai Biological Pharmacy Enterprise Co Ltd (603392)?
Balance-sheet figures for Beijing Wantai Biological Pharmacy Enterprise Co Ltd (as of Nov 10, 2026): return on equity −3.9%, debt of 0.01 per unit of equity. They feed the Quality Score of 43/100, which measures business quality independently of the share price.
How far is 603392 from its 52-week high?
Beijing Wantai Biological Pharmacy Enterprise Co Ltd trades at ¥24.40, about 56% below its 52-week high of ¥55.70 and 6% above the low of ¥23.05 (as of Nov 10, 2026). Distance from the high says nothing about value: that is what the fair value of ¥17.92 is for.
Which stocks are comparable to Beijing Wantai Biological Pharmacy Enterprise Co Ltd?
From the same area (Healthcare) we also value Vertex Pharmaceuticals Incorporated, Moderna, Inc, Regeneron Pharmaceuticals, Inc, CSL Limited, 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 Beijing Wantai Biological Pharmacy Enterprise Co Ltd stock attractive at the current price?
The data as of Nov 10, 2026: price ¥24.40, calculated fair value ¥17.92 (−27%), Quality Score 43/100. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
Is it still worth investing in stocks now?
The global stock market currently sits 15.1% above its aggregate fair value. Beijing Wantai Biological Pharmacy Enterprise Co Ltd itself currently trades above fair value. 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 Beijing Wantai Biological Pharmacy Enterprise Co Ltd (603392)?
The closing price on Nov 10, 2026 was ¥24.40. Our estimate is ¥17.92, about 27% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Beijing Wantai Biological Pharmacy Enterprise Co Ltd right now?
The price sits above even our optimistic bull case (¥22.39). The favourable scenario is already priced in. Weak quality (43/100) and above fair value at the same time, the margin of safety is missing on both counts. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Where does the earnings growth of Beijing Wantai Biological Pharmacy Enterprise Co Ltd (603392) come from?
Earnings per share at Beijing Wantai Biological Pharmacy Enterprise Co Ltd grew +35.3 % a year from 2013 to 2024. Broken into its drivers: revenue per share +26.7 %, EBIT margin +8.0 %, tax rate +0.6 %, residual (interest, one-offs) −1.8 %. 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 Beijing Wantai Biological Pharmacy Enterprise Co Ltd

How large is the market capitalisation of Beijing Wantai Biological Pharmacy Enterprise Co Ltd (603392)?
The market capitalisation of Beijing Wantai Biological Pharmacy Enterprise Co Ltd is 30.9B CNY (≈ $4.6B). 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 Beijing Wantai Biological Pharmacy Enterprise Co Ltd (603392)?
The price-to-sales ratio of Beijing Wantai Biological Pharmacy Enterprise Co Ltd is 15.1 (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 Beijing Wantai Biological Pharmacy Enterprise Co Ltd (603392)?
Earnings per share at Beijing Wantai Biological Pharmacy Enterprise Co Ltd are ¥−0.3500. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Beijing Wantai Biological Pharmacy Enterprise Co Ltd (603392)?
The net margin of Beijing Wantai Biological Pharmacy Enterprise Co Ltd is −23.5% (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 Beijing Wantai Biological Pharmacy Enterprise Co Ltd (603392)?
The return on equity (ROE) of Beijing Wantai Biological Pharmacy Enterprise Co Ltd is −3.9% (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 Beijing Wantai Biological Pharmacy Enterprise Co Ltd (603392)?
On an EBIT basis the return on assets of Beijing Wantai Biological Pharmacy Enterprise Co Ltd is 14.8% (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 Beijing Wantai Biological Pharmacy Enterprise Co Ltd (603392)?
The operating margin of Beijing Wantai Biological Pharmacy Enterprise Co Ltd is 2.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Beijing Wantai Biological Pharmacy Enterprise Co Ltd (603392)?
Revenue at Beijing Wantai Biological Pharmacy Enterprise Co Ltd is growing −12.3% versus a year earlier (3y avg −45.4%). 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 Beijing Wantai Biological Pharmacy Enterprise Co Ltd (603392)?
Earnings per share at Beijing Wantai Biological Pharmacy Enterprise Co Ltd are growing −94.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Beijing Wantai Biological Pharmacy Enterprise Co Ltd (603392) generate?
The free cash flow of Beijing Wantai Biological Pharmacy Enterprise Co Ltd is −715M CNY (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Beijing Wantai Biological Pharmacy Enterprise Co Ltd (603392) hold?
Beijing Wantai Biological Pharmacy Enterprise Co Ltd holds more cash than debt, 2.1B CNY net (fiscal year 2024). The company holds more cash than debt, a safety cushion.
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