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Meinian Onehealth Healthcare Holdings (002044) Fair Value & Analysis

Healthcare · CN · Market cap 19.7B CNY

MO Meinian Onehealth Healthcare Holdings 002044 · SHE
Price¥4.82
Fair Value¥1.60
Upside-66.8%
Quality58/100
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Mixed Growth
Thin margins · 3.0% net margin
Low debt · generates free cash flow
0.18% dividend yield
Trails peers (3/14)
Narrow moat 28/100
Evidence: Medium Range ¥1.30 – ¥2.08 Share as image

Fair value as of: Jul 21, 2026

From 24 valuation models · updated 20 days ago

Fair value updated Jul 21, 2026, revised from ¥2.99 to ¥1.60 (−46.5%) since Jun 25, 2026. Share price +9.8% over the past month.

A solid business, but screening 67% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥2.08). The favourable scenario is already priced in.
  • Solid but not exceptional quality (58/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

¥18.76 ¥3.26 Fair Value ¥1.60 Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 21, 2026.

How to read this chart

60‑month range ¥3.26 – ¥18.76 · fair‑value band ¥1.30 – ¥2.08 · the ¥4.82 price screens above the ¥1.60 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 21, 2026.

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Analysis

Meinian Onehealth Healthcare Holdings (002044) currently trades at ¥4.82, while our model-based Fair Value estimate is ¥1.60, implying the stock looks roughly 66.8% overvalued today. The Quality Score stands at 58/100 (solid quality), in the Healthcare sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).

Over the trailing twelve months, Meinian Onehealth Healthcare Holdings generated revenue of 10.2B CNY at a net margin of 3.0%. Revenue declined 9.7% year over year. It earns a return on equity of 4.7%. Net debt stands at 1.9B CNY. Fundamentals as of Jul 21, 2026

Our scenario range runs from ¥1.30 (bear case) to ¥2.08 (bull case); at ¥4.82, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 46% below its 52-week high, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at 11% fair-value upside, at -67%, 002044 screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF ¥5.92 ¥11.28 ¥20.39 80
Residual Income ¥1.53 ¥1.50 ¥1.31 76
Rev-Margin DCF ¥4.19 ¥6.77 ¥10.44 74
All 24 models by family
DCF Models
FCF DCF ¥6.10 ¥10.23 ¥21.07 38
Owner Earnings ¥4.90 ¥9.41 ¥18.35 31
5Y Revenue Exit ¥4.19 ¥6.79 ¥10.61 39
5Y EBITDA Exit ¥6.51 ¥12.01 ¥19.71 41
5Y P/E Exit ¥3.23 ¥4.67 ¥6.35 38
10Y Revenue Exit ¥4.66 ¥7.56 ¥11.93 36
10Y EBITDA Exit ¥6.36 ¥11.65 ¥20.81 37
10Y P/E Exit ¥4.10 ¥5.87 ¥8.49 35
Earnings-Based
Graham-Dodd ¥0.5000 ¥3.10 ¥4.33 54
Lynch FV ¥0.8900 ¥1.28 ¥1.66 50
PEG = 1.0 ¥0.8900 ¥1.28 ¥1.66 46
EPV ¥2.99 ¥3.34 ¥3.65 59
Multiples
P/E Multiple ¥1.20 ¥1.60 ¥2.00 63
P/S Multiple ¥0.9300 ¥1.24 ¥1.55 58
P/B Multiple ¥0.9300 ¥1.24 ¥1.55 55
EV/EBIT ¥4.31 ¥5.44 ¥6.58 53
EV/EBITDA ¥6.92 ¥8.92 ¥10.93 54
EV/Revenue ¥3.33 ¥4.37 ¥5.42 43
Asset-Based
NCAV (Graham) ¥1.04 ¥1.39 ¥2.08 50
Growth DCF
Growth DCF ¥5.92 ¥11.28 ¥20.39 80
Rev-Margin DCF ¥4.19 ¥6.77 ¥10.44 74
Economic Profit
Residual Income ¥1.53 ¥1.50 ¥1.31 76
ROIC Compounder ¥3.45 ¥4.61 ¥6.17 72
Growth Earnings
Growth-Adj P/E ¥1.30 ¥1.86 ¥2.42 68

Widest divergence: DCF Models (¥7.56) versus Earnings-Based (¥1.28). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 10.2B CNY
Revenue growth (YoY) -9.7%
Net margin 3.0%
Return on equity 4.7%
Free cash flow 1.4B CNY FY2025
P/E ratio 71.9
More key figures
Operating margin -13.6%
EPS (TTM) ¥0.0700
Dividend yield 0.2%
EPS growth (YoY) +961%
Net debt 1.9B CNY FY2024

Figures from reported company fundamentals · as of Jul 21, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 58/100

Of which business quality 58 · Market factors (momentum, volatility) 28

Profitability 29
Margins and returns on capital today
Quality Growth 32
Are margins and returns improving?
Cashflow 74
Earnings quality: real cash, not paper profit
Fin. Strength 51
Balance sheet, leverage, solvency risk
Investment 86
Disciplined investing over empire-building
Low Volatility 44
Calm price path (market factor)
Momentum 26
Price trend over the last 3–12 months (market factor)
52W Momentum 15
Distance to the 52-week high (market factor)
Net Issuance 91
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Meinian Onehealth Healthcare Holdings Co., Ltd. offers health checkup services. The company integrates health consultation, health assessment, and health management services.

Full company description

Meinian Onehealth Healthcare Holdings Co., Ltd. offers health checkup services. The company integrates health consultation, health assessment, and health management services. It also provides professional prevention, health protection, nutrition and health management consulting, health checkup, medical technology, information technology, health advisory, medical care, and insurance brokerage services. In addition, the company is involved in investment management, physical examination management, software development, and sales. Further, it offers research and experimental development services; sells medicines and medical devices; and engages in financial leasing, factoring, consulting, and pharmaceutical businesses. The company was founded in 1991 and is headquartered in Shanghai, China.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Meinian Onehealth Healthcare Holdings reported revenue of ¥10.4B in FY2025 versus ¥9.2B in FY2021, a compound +3.0%/yr. Reported net income was ¥285M in FY2025, compounding +46.7%/yr from FY2021.

Growth Quality 64/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
10.4B CNY
Latest YoY
−3.2%
Avg. growth/yr (3Y)
+6.3%
Avg. growth/yr (5Y)
+5.7%
Avg. growth/yr (23Y)
+16.1%
Revenue +3.0%/yr
FY21 ¥9.2B
FY22 ¥8.6B
FY23 ¥10.9B
FY24 ¥10.7B
FY25 ¥10.4B
Net income +46.7%/yr
FY21 ¥61.6M
FY22 −¥559M
FY23 ¥506M
FY24 ¥282M
FY25 ¥285M

002044 screens 67% overvalued. Compare with HCA Healthcare, Inc →

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Cite: Fair Value Calculator (2026). "Meinian Onehealth Healthcare Holdings Fair Value". https://www.fairvalue-calculator.com/stock/002044

Peer Group

Medical Care Facilities · 262 stocks

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.

Quality Score 58 · Above median
Fair Value upside −67% · Bottom 25%
Return on equity (TTM) 5% · Below median
Return on assets 3% · Below median
Net margin (TTM) 3% · Below median
Operating margin (TTM) -14% · Bottom 25%
Revenue growth -10% · Bottom 25%
Dividend yield (TTM) 0.2% · Bottom 25%
Debt / equity 0.02× · Lower than median

Valuation Multiples vs Medical Care Facilities median · lower = cheaper

P/E (TTM) 71.9× · Pricier than 75% of peers
P/B 2.42× · Pricier than median
P/S (TTM) 1.93× · Pricier than median
P/FCF 2.1× · Cheaper than median
EV/EBITDA 11.8× · Pricier than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 22
FUTURE 0 · sector 24
PAST 19 · sector 30
HEALTH 99 · sector 90
DIVIDEND 4 · sector 38

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

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Medical Care Facilities stocks, each showing price versus our Fair Value estimate (as of Jul 21, 2026).

Stock Price Fair Value vs Fair Value
HCA Healthcare, Inc HCA $378.85 $554.93 +46%
Fresenius SE FRE €41.73 €32.15 -23%
Dr. Sulaiman Al Habib Medical Services Group 4013 235.00 SAR 112.37 SAR -52%
IHH Healthcare Berhad, an investment holding company, Q0F 2.58 SGD 1.44 SGD -44%
Tenet Healthcare Corporation THC $194.91 $338.05 +73%
Rede D'Or São Luiz S.A RDOR3 R$36.01 R$47.31 +31%
DaVita Inc DVA $231.61 $255.97 +11%
Apollo Hospitals Enterprise Limited APOLLOHOSP ₹8,955 ₹2,955 -67%
Fresenius Medical Care AG FMS $24.68 $45.60 +85%
Aier Eye Hospital Group 300015 ¥8.68 ¥7.67 -12%

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Frequently asked questions

Is Meinian Onehealth Healthcare Holdings (002044) overvalued or undervalued?
As of Jul 21, 2026, our model estimates a fair value of ¥1.60 versus a price of ¥4.82, about −67% (overvalued).
What is the fair value of 002044?
Our model-based fair value for Meinian Onehealth Healthcare Holdings is ¥1.60 (as of Jul 21, 2026), built from audited fundamentals. The current price is ¥4.82.
What is the quality score of 002044?
Meinian Onehealth Healthcare Holdings has a Quality Score of 58/100. 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 revenue of Meinian Onehealth Healthcare Holdings (002044)?
Meinian Onehealth Healthcare Holdings reported trailing-twelve-month revenue of about 10.2B CNY (latest available figure, as of Jul 21, 2026).
What is the net profit margin of 002044?
The net profit margin of Meinian Onehealth Healthcare Holdings is about 3.0%, meaning it keeps roughly 3.0% of revenue as net income. Based on the latest reported figures.
Does Meinian Onehealth Healthcare Holdings pay a dividend?
Meinian Onehealth Healthcare Holdings currently shows a dividend yield of about 0.18% relative to its recent price (as of Jul 21, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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