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Jiangsu Nhwa Pharmaceutical Co (002262) Fair Value & Analysis

Healthcare · CN · Market cap 19.4B CNY

JN Jiangsu Nhwa Pharmaceutical Co 002262 · SHE
Price¥21.84
Fair Value¥19.54
Upside-10.5%
Quality63/100
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Healthy Growth
Solidly profitable · 17.9% net margin
Low debt · generates free cash flow
2.05% dividend yield
Ranks above peers (10/14)
Wide moat 66/100
Evidence: High Range ¥11.49 – ¥24.74 Share as image

Fair value as of: Jul 22, 2026

From 26 valuation models · updated 19 days ago

Share price +10.5% over the past month.

A solid business, but screening 11% overvalued on our models.

What matters now

  • A fairly wide model range (¥11.49 to ¥24.74) leaves room in how you read the outcome.
  • Our model range runs from ¥11.49 (bear) to ¥24.74 (bull), base ¥19.54. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 63/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

¥30.08 ¥10.53 Fair Value ¥19.54 Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 22, 2026.

How to read this chart

60‑month range ¥10.53 – ¥30.08 · fair‑value band ¥11.49 – ¥24.74 · the ¥21.84 price screens above the ¥19.54 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 22, 2026.

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Analysis

Jiangsu Nhwa Pharmaceutical Co (002262) currently trades at ¥21.84, while our model-based Fair Value estimate is ¥19.54, implying the stock looks roughly 10.5% overvalued today. The Quality Score stands at 63/100 (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: high).

Over the trailing twelve months, Jiangsu Nhwa Pharmaceutical Co generated revenue of 6.0B CNY at a net margin of 17.9%. Revenue grew 6.6% year over year. It earns a return on equity of 13.5%. The balance sheet holds a net cash position of 1.4B CNY. Fundamentals as of Jul 22, 2026

Our scenario range runs from ¥11.49 (bear case) to ¥24.74 (bull case); at ¥21.84, the current price sits within 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 24% below its 52-week high and 17% above its 52-week low, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -49% fair-value upside, at -11%, 002262 screens cheaper 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 ¥9.36 ¥15.01 ¥24.43 80
Residual Income ¥7.57 ¥9.30 ¥20.80 76
Rev-Margin DCF ¥10.90 ¥18.20 ¥27.43 74
All 26 models by family
DCF Models
FCF DCF ¥9.38 ¥15.43 ¥25.73 38
Owner Earnings ¥11.57 ¥19.29 ¥32.42 31
5Y Revenue Exit ¥10.90 ¥18.42 ¥28.61 39
5Y EBITDA Exit ¥12.69 ¥22.05 ¥33.72 41
5Y P/E Exit ¥14.63 ¥25.98 ¥38.87 38
10Y Revenue Exit ¥9.96 ¥16.90 ¥27.46 36
10Y EBITDA Exit ¥11.49 ¥19.54 ¥31.67 37
10Y P/E Exit ¥12.77 ¥22.39 ¥35.90 35
Earnings-Based
Graham-Dodd ¥7.08 ¥30.88 ¥42.24 54
Lynch FV ¥7.96 ¥11.37 ¥14.78 50
PEG = 1.0 ¥7.96 ¥11.37 ¥14.78 46
EPV ¥10.85 ¥12.42 ¥13.79 59
Dividend Discount
Gordon GGM ¥3.31 ¥6.88 ¥10.92 70
DDM Multi-Stage ¥3.31 ¥5.80 ¥7.22 61
Multiples
P/E Multiple ¥17.17 ¥22.90 ¥28.62 63
P/S Multiple ¥13.27 ¥17.70 ¥22.12 58
P/B Multiple ¥13.27 ¥17.70 ¥22.12 55
EV/EBIT ¥15.99 ¥20.85 ¥25.71 53
EV/EBITDA ¥15.47 ¥20.14 ¥24.82 54
EV/Revenue ¥11.82 ¥16.28 ¥20.74 43
Asset-Based
NCAV (Graham) ¥3.97 ¥5.31 ¥7.93 50
Growth DCF
Growth DCF ¥9.36 ¥15.01 ¥24.43 80
Rev-Margin DCF ¥10.90 ¥18.20 ¥27.43 74
Economic Profit
Residual Income ¥7.57 ¥9.30 ¥20.80 76
ROIC Compounder ¥11.87 ¥15.56 ¥20.52 72
Growth Earnings
Growth-Adj P/E ¥13.54 ¥19.34 ¥25.15 68

Widest divergence: Growth Earnings (¥19.34) versus Asset-Based (¥5.31). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 6.0B CNY
Revenue growth (YoY) +6.6%
Net margin 17.9%
Return on equity 13.5%
Free cash flow 641M CNY FY2025
P/E ratio 18.0
More key figures
Operating margin 21.3%
EPS (TTM) ¥1.06
Dividend yield 2.1%
EPS growth (YoY) +3.3%
Net cash 1.4B CNY FY2024

Figures from reported company fundamentals · as of Jul 22, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 63/100

Of which business quality 63 · Market factors (momentum, volatility) 48

Profitability 65
Margins and returns on capital today
Quality Growth 41
Are margins and returns improving?
Cashflow 49
Earnings quality: real cash, not paper profit
Fin. Strength 90
Balance sheet, leverage, solvency risk
Investment 48
Disciplined investing over empire-building
Low Volatility 83
Calm price path (market factor)
Momentum 32
Price trend over the last 3–12 months (market factor)
52W Momentum 35
Distance to the 52-week high (market factor)
Net Issuance 79
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

Jiangsu Nhwa Pharmaceutical Co., LTD engages in research, development, production, and sale of central nervous system products in China. The company offers APIs, solid preparation, water injection, and freeze-dried powder formulations for depression, anxiety disorders, insomnia, severe mental disorders, and neurodegenerative diseases.

Full company description

Jiangsu Nhwa Pharmaceutical Co., LTD engages in research, development, production, and sale of central nervous system products in China. The company offers APIs, solid preparation, water injection, and freeze-dried powder formulations for depression, anxiety disorders, insomnia, severe mental disorders, and neurodegenerative diseases. Its products include sufentanil citrate injection, oxaliplatin fumarate injection, alfentanil hydrochloride injection, oxycodone hydrochloride injection, olanzapine tablets, midazolam hydrochloride oral solution, clonazepam injection, lacosamide injection, micuronium injection, pregabalin capsules, vortioxetine hydrobromide tablets, tapentadone hydrochloride tablets, and oxycodone hydrochloride extended-release tablets. The company was founded in 1978 and is headquartered in Xuzhou, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Jiangsu Nhwa Pharmaceutical Co reported revenue of ¥5.9B in FY2025 versus ¥3.9B in FY2021, a compound +10.7%/yr. Reported net income was ¥1.1B in FY2025, compounding +7.3%/yr from FY2021.

Growth Quality 96/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
5.9B CNY
Latest YoY
+3.7%
Avg. growth/yr (3Y)
+11.2%
Avg. growth/yr (5Y)
+12.0%
Avg. growth/yr (20Y)
+11.8%
Revenue +10.7%/yr
FY21 ¥3.9B
FY22 ¥4.3B
FY23 ¥5.0B
FY24 ¥5.7B
FY25 ¥5.9B
Net income +7.3%/yr
FY21 ¥798M
FY22 ¥901M
FY23 ¥1.0B
FY24 ¥1.1B
FY25 ¥1.1B

002262 screens 11% overvalued. Compare with Sun Pharmaceutical Industries Limited →

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Cite: Fair Value Calculator (2026). "Jiangsu Nhwa Pharmaceutical Co Fair Value". https://www.fairvalue-calculator.com/stock/002262

Peer Group

Drug Manufacturers - Specialty & Generic · 626 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 63 · Above median
Fair Value upside −11% · Above median
Return on equity (TTM) 13% · Top 25%
Return on assets 8% · Top 25%
Net margin (TTM) 18% · Top 25%
Operating margin (TTM) 21% · Top 25%
Revenue growth 7% · Above median
Dividend yield (TTM) 2.1% · Above median

Valuation Multiples vs Drug Manufacturers - Specialty & Generic median · lower = cheaper

P/E (TTM) 18.0× · Cheaper than median
P/B 2.41× · Pricier than median
P/S (TTM) 3.23× · Pricier than median
P/FCF 4.5× · Pricier than median
EV/EBITDA 13.9× · 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 19 · sector 7
FUTURE 33 · sector 20
PAST 54 · sector 23
HEALTH 100 · sector 97
DIVIDEND 41 · sector 34

Insider activity: 40/100

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 Drug Manufacturers - Specialty & Generic stocks, each showing price versus our Fair Value estimate (as of Jul 22, 2026).

Stock Price Fair Value vs Fair Value
Jiangsu Hengrui Pharmaceuticals Co 600276 ¥53.19 ¥25.94 -51%
Sun Pharmaceutical Industries Limited SUNPHARMA ₹1,933 ₹989.50 -49%
Divi's Laboratories Limited DIVISLAB ₹7,316 ₹1,943 -73%
Torrent Pharmaceuticals Limited TORNTPHARM ₹4,763 ₹1,329 -72%
PharmaEssentia Corporation 6446 1,285 TWD 221.01 TWD -83%
Cipla Limited CIPLA ₹1,439 ₹1,001 -30%
Zydus Lifesciences Limited ZYDUSLIFE ₹1,151 ₹703.32 -39%
Lupin Limited LUPIN ₹2,443 ₹2,477 +1%
Mankind Pharma Limited MANKIND ₹2,484 ₹983.11 -60%
Dr. Reddy's Laboratories Limited DRREDDY ₹1,211 ₹874.79 -28%

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Frequently asked questions

Is Jiangsu Nhwa Pharmaceutical Co (002262) overvalued or undervalued?
As of Jul 22, 2026, our model estimates a fair value of ¥19.54 versus a price of ¥21.84, about −11% (overvalued).
What is the fair value of 002262?
Our model-based fair value for Jiangsu Nhwa Pharmaceutical Co is ¥19.54 (as of Jul 22, 2026), built from audited fundamentals. The current price is ¥21.84.
What is the quality score of 002262?
Jiangsu Nhwa Pharmaceutical Co has a Quality Score of 63/100. 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 Jiangsu Nhwa Pharmaceutical Co (002262)?
Jiangsu Nhwa Pharmaceutical Co reported trailing-twelve-month revenue of about 6.0B CNY (latest available figure, as of Jul 22, 2026).
What is the net profit margin of 002262?
The net profit margin of Jiangsu Nhwa Pharmaceutical Co is about 17.9%, meaning it keeps roughly 17.9% of revenue as net income. Based on the latest reported figures.
Does Jiangsu Nhwa Pharmaceutical Co pay a dividend?
Jiangsu Nhwa Pharmaceutical Co currently shows a dividend yield of about 2.05% relative to its recent price (as of Jul 22, 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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