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Zhejiang Xianju Pharmaceutical Co (002332) Fair Value & Analysis

Healthcare · CN · Market cap 8.4B CNY

ZX Zhejiang Xianju Pharmaceutical Co 002332 · SHE
Price¥8.54
Fair Value¥7.55
Upside-11.6%
Quality60/100
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Weak Growth
Solidly profitable · 10.9% net margin
Low debt · generates free cash flow
3.48% dividend yield
Ranks above peers (10/14)
Narrow moat 43/100
Evidence: High Range ¥5.16 – ¥10.61 Share as image

Fair value as of: Jul 22, 2026

From 25 valuation models · updated 19 days ago

Share price +3.0% over the past month.

A solid business, but screening 12% overvalued on our models.

What matters now

  • A fairly wide model range (¥5.16 to ¥10.61) leaves room in how you read the outcome.
  • Our model range runs from ¥5.16 (bear) to ¥10.61 (bull), base ¥7.55. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 60/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

¥13.77 ¥6.27 Fair Value ¥7.55 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 ¥6.27 – ¥13.77 · fair‑value band ¥5.16 – ¥10.61 · the ¥8.54 price screens above the ¥7.55 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

Zhejiang Xianju Pharmaceutical Co (002332) currently trades at ¥8.54, while our model-based Fair Value estimate is ¥7.55, implying the stock looks roughly 11.6% overvalued today. The Quality Score stands at 60/100 (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, Zhejiang Xianju Pharmaceutical Co generated revenue of 3.7B CNY at a net margin of 10.9%. Revenue declined 8.9% year over year. It earns a return on equity of 6.6%. The balance sheet holds a net cash position of 1.3B CNY. Fundamentals as of Jul 22, 2026

Our scenario range runs from ¥5.16 (bear case) to ¥10.61 (bull case); at ¥8.54, 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 25% below its 52-week high and 4% 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 -12%, 002332 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 ¥1.61 ¥1.76 ¥1.97 80
Residual Income ¥4.99 ¥5.29 ¥5.68 76
Rev-Margin DCF ¥3.99 ¥6.05 ¥8.24 74
All 25 models by family
DCF Models
FCF DCF ¥1.60 ¥1.77 ¥2.00 38
Owner Earnings ¥5.98 ¥8.02 ¥10.83 31
5Y Revenue Exit ¥3.99 ¥6.09 ¥8.74 39
5Y EBITDA Exit ¥5.49 ¥8.77 ¥12.50 41
5Y P/E Exit ¥5.46 ¥8.71 ¥12.00 38
10Y Revenue Exit ¥2.94 ¥4.61 ¥6.78 36
10Y EBITDA Exit ¥3.98 ¥6.38 ¥9.47 37
10Y P/E Exit ¥3.96 ¥6.34 ¥9.11 35
Earnings-Based
Graham-Dodd ¥3.09 ¥7.52 ¥9.72 54
PEG = 1.0 ¥1.34 ¥1.91 ¥2.49 46
EPV ¥4.80 ¥5.37 ¥5.86 59
Dividend Discount
Gordon GGM ¥3.56 ¥6.23 ¥9.46 70
DDM Multi-Stage ¥3.56 ¥5.26 ¥7.03 61
Multiples
P/E Multiple ¥7.50 ¥10.00 ¥12.50 63
P/S Multiple ¥5.80 ¥7.73 ¥9.66 58
P/B Multiple ¥5.80 ¥7.73 ¥9.66 55
EV/EBIT ¥7.52 ¥9.62 ¥11.73 53
EV/EBITDA ¥8.76 ¥11.29 ¥13.81 54
EV/Revenue ¥5.71 ¥7.64 ¥9.57 43
Asset-Based
NCAV (Graham) ¥3.05 ¥4.09 ¥6.10 50
Growth DCF
Growth DCF ¥1.61 ¥1.76 ¥1.97 80
Rev-Margin DCF ¥3.99 ¥6.05 ¥8.24 74
Economic Profit
Residual Income ¥4.99 ¥5.29 ¥5.68 76
ROIC Compounder ¥4.80 ¥5.37 ¥5.86 72
Growth Earnings
Growth-Adj P/E ¥5.71 ¥8.16 ¥10.61 68

Widest divergence: Growth Earnings (¥8.16) versus Growth DCF (¥1.76). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 3.7B CNY
Revenue growth (YoY) -8.9%
Net margin 10.9%
Return on equity 6.6%
Free cash flow 38.4M CNY FY2025
P/E ratio 21.2
More key figures
Operating margin 12.3%
EPS (TTM) ¥0.4000
Dividend yield 3.5%
EPS growth (YoY) -34.8%
Net cash 1.3B CNY FY2024

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

Quality Score breakdown

Overall quality 60/100

Of which business quality 58 · Market factors (momentum, volatility) 46

Profitability 46
Margins and returns on capital today
Quality Growth 49
Are margins and returns improving?
Cashflow 14
Earnings quality: real cash, not paper profit
Fin. Strength 91
Balance sheet, leverage, solvency risk
Investment 84
Disciplined investing over empire-building
Low Volatility 90
Calm price path (market factor)
Momentum 33
Price trend over the last 3–12 months (market factor)
52W Momentum 19
Distance to the 52-week high (market factor)
Net Issuance 84
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

Zhejiang Xianju Pharmaceutical Co.,Ltd., together with its subsidiaries, engages in the research, development, production, and sale of steroid raw materials and preparations in China and internationally.

Full company description

Zhejiang Xianju Pharmaceutical Co.,Ltd., together with its subsidiaries, engages in the research, development, production, and sale of steroid raw materials and preparations in China and internationally. The company offers gynecological, anesthesia, respiratory, dermatology, generic drug, and other products; active pharmaceutical ingredients (API), such as corticosteroids, sex hormone, progesterone, non-hormone series, newchem API, and intermediates products; and CDMO and CMO services. It also engages in medical equipment production; technical sales; and technological development activities. Zhejiang Xianju Pharmaceutical Co.,Ltd. was founded in 1972 and is headquartered in Xianju, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Zhejiang Xianju Pharmaceutical Co reported revenue of ¥3.8B in FY2025 versus ¥4.4B in FY2021, a compound −3.6%/yr. Reported net income was ¥450M in FY2025, compounding −7.7%/yr from FY2021.

Growth Quality 33/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
3.8B CNY
Latest YoY
−6.0%
Avg. growth/yr (3Y)
−5.0%
Avg. growth/yr (5Y)
−1.3%
Avg. growth/yr (19Y)
+8.7%
Revenue −3.6%/yr
FY21 ¥4.4B
FY22 ¥4.4B
FY23 ¥4.1B
FY24 ¥4.0B
FY25 ¥3.8B
Net income −7.7%/yr
FY21 ¥619M
FY22 ¥749M
FY23 ¥563M
FY24 ¥397M
FY25 ¥450M

002332 screens 12% overvalued. Compare with Jiangsu Hengrui Pharmaceuticals Co →

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Cite: Fair Value Calculator (2026). "Zhejiang Xianju Pharmaceutical Co Fair Value". https://www.fairvalue-calculator.com/stock/002332

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 60 · Above median
Fair Value upside −12% · Above median
Return on equity (TTM) 7% · Above median
Return on assets 3% · Above median
Net margin (TTM) 11% · Above median
Operating margin (TTM) 12% · Above median
Revenue growth -9% · Bottom 25%
Dividend yield (TTM) 3.5% · Top 25%
Debt / equity 0.00× · Lower than 75% of peers

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

P/E (TTM) 21.2× · Cheaper than median
P/B 1.39× · Cheaper than median
P/S (TTM) 2.28× · Pricier than median
P/FCF 32.4× · Pricier than 75% of peers
EV/EBITDA 12.1× · 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 18 · sector 7
FUTURE 0 · sector 20
PAST 27 · sector 23
HEALTH 100 · sector 97
DIVIDEND 70 · sector 34

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 Zhejiang Xianju Pharmaceutical Co (002332) overvalued or undervalued?
As of Jul 22, 2026, our model estimates a fair value of ¥7.55 versus a price of ¥8.54, about −12% (overvalued).
What is the fair value of 002332?
Our model-based fair value for Zhejiang Xianju Pharmaceutical Co is ¥7.55 (as of Jul 22, 2026), built from audited fundamentals. The current price is ¥8.54.
What is the quality score of 002332?
Zhejiang Xianju Pharmaceutical Co has a Quality Score of 60/100. 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 Zhejiang Xianju Pharmaceutical Co (002332)?
Zhejiang Xianju Pharmaceutical Co reported trailing-twelve-month revenue of about 3.7B CNY (latest available figure, as of Jul 22, 2026).
What is the net profit margin of 002332?
The net profit margin of Zhejiang Xianju Pharmaceutical Co is about 10.9%, meaning it keeps roughly 10.9% of revenue as net income. Based on the latest reported figures.
Does Zhejiang Xianju Pharmaceutical Co pay a dividend?
Zhejiang Xianju Pharmaceutical Co currently shows a dividend yield of about 3.48% 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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