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Jiangsu Hengrui Pharmaceuticals Co (1276) Fair Value & Analysis

Healthcare · HK · Market cap HK$384B

JH Jiangsu Hengrui Pharmaceuticals Co 1276 · HK
PriceHK$52.80
Fair ValueHK$33.59
Upside-36.4%
Quality67/100
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Healthy Growth
Highly profitable · 24.9% net margin
generates free cash flow
0.34% dividend yield
Mixed vs. peers (6/13)
Wide moat 80/100
Evidence: High Range HK$25.19 – HK$41.04 Share as image

Fair value as of: Aug 13, 2026

From 24 valuation models · updated 2 days ago

Fair value updated Aug 13, 2026, revised from HK$30.50 to HK$33.59 (+10.1%) since Aug 5, 2026. Share price −9.7% over the past month.

A solid business, but screening 36% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (HK$41.04). The favourable scenario is already priced in.
  • Solid but not exceptional quality (67/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (15 months)

HK$93.77 HK$52.45 Fair Value HK$33.59 May 2025 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

15‑month range HK$52.45 – HK$93.77 · fair‑value band HK$25.19 – HK$41.04 · the HK$52.80 price screens above the HK$33.59 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Jiangsu Hengrui Pharmaceuticals Co (1276) currently trades at HK$52.80, while our model-based Fair Value estimate is HK$33.59, implying the stock looks roughly 36.4% overvalued today. The Quality Score stands at 67/100 (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 Hengrui Pharmaceuticals Co generated revenue of HK$32.6B at a net margin of 24.9%. Revenue grew 13.0% year over year. It earns a return on equity of 14.5%. The balance sheet holds a net cash position of HK$45.5B. Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$25.19 (bear case) to HK$41.04 (bull case); at HK$52.80, 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 44% below its 52-week high and 3% above its 52-week low, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -40% fair-value upside, at -36%, 1276 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 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. Evidence
Highest evidence
Residual Income HK$9.97 HK$12.36 HK$30.02 76
Growth DCF HK$27.48 HK$49.74 HK$86.38 72
Growth-Adj P/E HK$21.68 HK$30.97 HK$40.26 68
All 24 models by family
DCF Models
FCF DCF HK$27.93 HK$47.53 HK$94.20 38
Owner Earnings HK$21.14 HK$36.18 HK$65.95 31
5Y Revenue Exit HK$21.23 HK$32.45 HK$48.08 39
5Y EBITDA Exit HK$24.92 HK$40.55 HK$60.99 41
5Y P/E Exit HK$27.67 HK$46.60 HK$69.43 38
10Y Revenue Exit HK$22.75 HK$34.70 HK$54.13 36
10Y EBITDA Exit HK$25.75 HK$41.00 HK$65.90 37
10Y P/E Exit HK$27.67 HK$45.70 HK$73.59 35
Earnings-Based
Graham-Dodd HK$8.93 HK$50.62 HK$70.36 54
Lynch FV HK$14.22 HK$20.31 HK$26.40 50
PEG = 1.0 HK$14.22 HK$20.31 HK$26.40 46
EPV HK$20.59 HK$22.99 HK$25.13 59
Multiples
P/E Multiple HK$21.66 HK$28.88 HK$36.10 63
P/S Multiple HK$14.13 HK$18.85 HK$23.56 58
P/B Multiple HK$16.74 HK$22.32 HK$27.90 55
EV/EBIT HK$26.49 HK$32.99 HK$39.50 53
EV/EBITDA HK$24.55 HK$30.41 HK$36.27 54
EV/Revenue HK$18.28 HK$23.13 HK$27.97 43
Asset-Based
NCAV (Graham) HK$5.22 HK$6.99 HK$10.43 50
Growth DCF
Growth DCF HK$27.48 HK$49.74 HK$86.38 72
Rev-Margin DCF HK$21.23 HK$32.11 HK$47.15 67
Economic Profit
Residual Income HK$9.97 HK$12.36 HK$30.02 76
ROIC Compounder HK$22.74 HK$28.45 HK$35.96 67
Growth Earnings
Growth-Adj P/E HK$21.68 HK$30.97 HK$40.26 68

Widest divergence: DCF Models (HK$40.55) versus Asset-Based (HK$6.99). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) HK$32.6B
Revenue growth (YoY) +13.0%
Net margin 24.9%
Return on equity 14.5%
Free cash flow HK$9.2B FY2025
P/E ratio 41.0 as of Jul 2, 2026
More key figures
Operating margin 31.6%
EPS (TTM) HK$1.35
Dividend yield 0.3%
EPS growth (YoY) +13.3%
Net cash HK$45.5B FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 67/100

Of which business quality 68 · Market factors (momentum, volatility) 27

Profitability 63
Margins and returns on capital today
Quality Growth 46
Are margins and returns improving?
Cashflow 82
Earnings quality: real cash, not paper profit
Fin. Strength 100
Balance sheet, leverage, solvency risk
Investment 28
Disciplined investing over empire-building
Low Volatility 71
Calm price path (market factor)
Momentum 13
Price trend over the last 3–12 months (market factor)
52W Momentum 2
Distance to the 52-week high (market factor)
Net Issuance 63
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 Hengrui Pharmaceuticals Co.,Ltd, a pharmaceutical company, researches, develops, manufactures, and commercializes medicines to address unmet clinical needs in China and internationally.

Full company description

Jiangsu Hengrui Pharmaceuticals Co.,Ltd, a pharmaceutical company, researches, develops, manufactures, and commercializes medicines to address unmet clinical needs in China and internationally. The company develops medicines in the areas of oncology, metabolic and cardiovascular, immunological and respiratory, neuroscience, pain management, infectious, respiratory system, hematological, ophthalmology, and autoimmune and other diseases. The company was founded in 1970 and is headquartered in Lianyungang, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Jiangsu Hengrui Pharmaceuticals Co reported revenue of HK$35.2B in FY2025 versus HK$31.0B in FY2021, a compound +3.2%/yr. Reported net income was HK$8.6B in FY2025, compounding +12.0%/yr from FY2021.

Growth Quality 73/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
HK$35.2B
Latest YoY
+18.2%
Avg. growth/yr (3Y) ⓘ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.
+13.2%
Avg. growth/yr (5Y) ⓘ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.
+2.6%
Avg. growth/yr (19Y) ⓘ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.
+18.5%
Revenue +3.2%/yr
FY21 HK$31.0B
FY22 HK$24.2B
FY23 HK$25.3B
FY24 HK$29.8B
FY25 HK$35.2B
Net income +12.0%/yr
FY21 HK$5.5B
FY22 HK$4.4B
FY23 HK$4.8B
FY24 HK$6.7B
FY25 HK$8.6B
Character of growth · EPS growth decomposed (2014-2025) +11.2 % p.a.
Revenue per share +11.6 pp

of which total revenue +11.7 pp · buybacks/dilution −0.2 pp

EBIT margin +0.2 pp
Tax rate +0.3 pp
Residual (interest, one-offs) −0.9 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

1276 screens 36% overvalued. Compare with Sun Pharmaceutical Industries Limited →

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HK$33.59 −36%Fair Value
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Cite: Fair Value Calculator (2026). "Jiangsu Hengrui Pharmaceuticals Co Fair Value". https://www.fairvalue-calculator.com/stock/1276

Peer Group

Drug Manufacturers - Specialty & Generic · 624 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 67 · Top 25%
Fair Value upside −36% · Below median
Return on equity (TTM) 15% · Top 25%
Return on assets 9% · Top 25%
Net margin (TTM) 25% · Top 25%
Operating margin (TTM) 32% · Top 25%
Revenue growth 13% · Above median
Dividend yield (TTM) 0.3% · Bottom 25%

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

P/E (TTM) 41.0× · Pricier than median
P/B 5.63× · Pricier than 75% of peers
P/S (TTM) 11.79× · Pricier than 75% of peers
P/FCF 5.3× · Pricier than median
EV/EBITDA 35.8× · Pricier than 75% of peers

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 6
FUTURE 65 · sector 21
PAST 58 · sector 25
HEALTH 0 · sector 97
DIVIDEND 7 · sector 31

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 Drug Manufacturers - Specialty & Generic stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Sun Pharmaceutical Industries Limited SUNPHARMA ₹1,944 ₹989.50 -49%
Divi's Laboratories Limited DIVISLAB ₹8,500 ₹1,932 -77%
Torrent Pharmaceuticals Limited TORNTPHARM ₹4,915 ₹1,163 -76%
PharmaEssentia Corporation 6446 1,440 TWD 233.93 TWD -84%
Cipla Limited CIPLA ₹1,463 ₹1,001 -32%
Zydus Lifesciences Limited ZYDUSLIFE ₹1,167 ₹703.32 -40%
Lupin Limited LUPIN ₹2,281 ₹2,477 +9%
Mankind Pharma Limited MANKIND ₹2,433 ₹983.11 -60%
Dr. Reddy's Laboratories Limited DRREDDY ₹1,200 ₹874.79 -27%
Aurobindo Pharma Limited AUROPHARMA ₹1,667 ₹1,340 -20%

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Frequently asked questions

Is Jiangsu Hengrui Pharmaceuticals Co (1276) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$33.59 versus a price of HK$52.80, about −36% (overvalued).
What is the fair value of 1276?
Our model-based fair value for Jiangsu Hengrui Pharmaceuticals Co is HK$33.59 (as of Aug 13, 2026), built from audited fundamentals. The current price is HK$52.80.
What is the quality score of 1276?
Jiangsu Hengrui Pharmaceuticals Co has a Quality Score of 67/100. 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 Hengrui Pharmaceuticals Co (1276)?
Jiangsu Hengrui Pharmaceuticals Co reported trailing-twelve-month revenue of about HK$32.6B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 1276?
The net profit margin of Jiangsu Hengrui Pharmaceuticals Co is about 24.9%, meaning it keeps roughly 24.9% of revenue as net income. Based on the latest reported figures.
Does Jiangsu Hengrui Pharmaceuticals Co pay a dividend?
Jiangsu Hengrui Pharmaceuticals Co currently shows a dividend yield of about 0.34% relative to its recent price (as of Aug 13, 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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