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Chaoju Eye Care Holdings Ltd (2219) Fair Value & Analysis

Healthcare · HK · Market cap HK$1.7B

CE Chaoju Eye Care Holdings Ltd 2219 · HK
PriceHK$2.60
Fair ValueHK$5.79
Upside+123.1%
Quality61/100
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Mixed Growth
Solidly profitable · 13.5% net margin
Low debt · generates free cash flow
8.90% dividend yield
Ranks above peers (12/14)
Moderate moat 51/100
Evidence: High Range HK$3.72 – HK$8.48 Share as image

Fair value as of: Aug 13, 2026

From 26 valuation models · updated 3 days ago

Fair value updated Aug 13, 2026, revised from HK$5.78 to HK$5.79 (+0.2%) since Aug 5, 2026. Share price +1.8% over the past month.

A solid business, screening 123% undervalued on our models.

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What matters now

  • The price is below even our cautious bear case (HK$3.72). The market is more pessimistic than our downside scenario.
  • Solid quality (61/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (HK$3.72 to HK$8.48) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

HK$12.18 HK$2.08 Fair Value HK$5.79 Jul 2021 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

60‑month range HK$2.08 – HK$12.18 · fair‑value band HK$3.72 – HK$8.48 · the HK$2.60 price screens below the HK$5.79 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Chaoju Eye Care Holdings Ltd (2219) currently trades at HK$2.60, while our model-based Fair Value estimate is HK$5.79, implying the stock looks roughly 123.1% undervalued today. The Quality Score stands at 61/100 (solid quality), in the Healthcare sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Chaoju Eye Care Holdings Ltd generated revenue of HK$1.4B at a net margin of 13.5%. Revenue declined 1.4% year over year. It earns a return on equity of 7.5%. The balance sheet holds a net cash position of HK$279M. Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$3.72 (bear case) to HK$8.48 (bull case); at HK$2.60, the current price sits below 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 10% below its 52-week high and 18% above its 52-week low, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -14% fair-value upside, at 123%, 2219 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
Growth DCF HK$2.26 HK$2.90 HK$3.73 80
Residual Income HK$2.70 HK$2.81 HK$2.90 76
Rev-Margin DCF HK$3.15 HK$4.85 HK$6.84 74
All 26 models by family
DCF Models
FCF DCF HK$2.26 HK$3.01 HK$4.04 38
Owner Earnings HK$2.15 HK$2.85 HK$3.81 31
5Y Revenue Exit HK$3.15 HK$4.88 HK$7.14 39
5Y EBITDA Exit HK$4.50 HK$7.45 HK$10.97 41
5Y P/E Exit HK$3.66 HK$5.86 HK$8.22 38
10Y Revenue Exit HK$2.68 HK$4.08 HK$6.05 36
10Y EBITDA Exit HK$3.55 HK$5.73 HK$8.76 37
10Y P/E Exit HK$3.06 HK$4.71 HK$6.82 35
Earnings-Based
Graham-Dodd HK$1.80 HK$6.11 HK$8.19 54
Lynch FV HK$1.40 HK$2.00 HK$2.59 50
PEG = 1.0 HK$1.40 HK$2.00 HK$2.59 46
EPV HK$2.58 HK$2.84 HK$3.06 59
Dividend Discount
Gordon GGM HK$0.8500 HK$1.54 HK$2.12 70
DDM Multi-Stage HK$0.8500 HK$1.38 HK$1.64 61
Multiples
P/E Multiple HK$4.37 HK$5.83 HK$7.29 63
P/S Multiple HK$3.38 HK$4.51 HK$5.63 58
P/B Multiple HK$3.38 HK$4.51 HK$5.63 55
EV/EBIT HK$5.15 HK$6.64 HK$8.13 53
EV/EBITDA HK$6.62 HK$8.59 HK$10.56 54
EV/Revenue HK$3.88 HK$5.24 HK$6.61 43
Asset-Based
NCAV (Graham) HK$1.74 HK$2.33 HK$3.47 50
Growth DCF
Growth DCF HK$2.26 HK$2.90 HK$3.73 80
Rev-Margin DCF HK$3.15 HK$4.85 HK$6.84 74
Economic Profit
Residual Income HK$2.70 HK$2.81 HK$2.90 76
ROIC Compounder HK$2.58 HK$2.84 HK$3.06 72
Growth Earnings
Growth-Adj P/E HK$3.71 HK$5.29 HK$6.88 68

Widest divergence: Growth Earnings (HK$5.29) versus Dividend Discount (HK$1.38). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) HK$1.4B
Revenue growth (YoY) -1.4%
Net margin 13.5%
Return on equity 7.5%
Free cash flow HK$113M FY2025
P/E ratio 8.3 as of Jul 2, 2026
More key figures
Operating margin 14.5%
EPS (TTM) HK$0.1600
Dividend yield 8.9%
EPS growth (YoY) +24.4%
Net cash HK$279M FY2025

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

Quality Score breakdown

Overall quality 61/100

Of which business quality 61 · Market factors (momentum, volatility) 52

Profitability 41
Margins and returns on capital today
Quality Growth 34
Are margins and returns improving?
Cashflow 55
Earnings quality: real cash, not paper profit
Fin. Strength 91
Balance sheet, leverage, solvency risk
Investment 64
Disciplined investing over empire-building
Low Volatility 84
Calm price path (market factor)
Momentum 36
Price trend over the last 3–12 months (market factor)
52W Momentum 43
Distance to the 52-week high (market factor)
Net Issuance 80
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

Chaoju Eye Care Holdings Limited, together with its subsidiaries, owns and operates a network of ophthalmic hospitals and centers in the People's Republic of China.

Full company description

Chaoju Eye Care Holdings Limited, together with its subsidiaries, owns and operates a network of ophthalmic hospitals and centers in the People's Republic of China. The company offers in-patient and out-patient ophthalmic medical services; and consumer ophthalmic services, including treatments and prevention for various ophthalmic disorders, such as refractive and presbyopia correction, and myopia prevention and control. It also provides basic ophthalmic services for the treatment of a range of eye diseases, including cataract, glaucoma, squint, ocular fundus diseases, ocular surface diseases, orbital diseases, dry eye syndrome, and oculoplastic and pediatric eye diseases. In addition, the company engages in investment management activities; and the sale of equipment, optical products, and medical consumables. Chaoju Eye Care Holdings Limited was founded in 1988 and is headquartered in Beijing, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Chaoju Eye Care Holdings Ltd reported revenue of HK$1.4B in FY2025 versus HK$998M in FY2021, a compound +8.1%/yr. Reported net income was HK$183M in FY2025, compounding +3.2%/yr from FY2021.

Growth Quality 83/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
HK$1.4B
Latest YoY
−3.2%
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.
+11.2%
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.
+11.4%
Avg. growth/yr (7Y) 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.
+11.6%
Revenue +8.1%/yr
FY21 HK$998M
FY22 HK$990M
FY23 HK$1.4B
FY24 HK$1.4B
FY25 HK$1.4B
Net income +3.2%/yr
FY21 HK$162M
FY22 HK$188M
FY23 HK$229M
FY24 HK$195M
FY25 HK$183M

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Cite: Fair Value Calculator (2026). "Chaoju Eye Care Holdings Ltd Fair Value". https://www.fairvalue-calculator.com/stock/2219

Peer Group

Medical Care Facilities · 266 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 61 · Above median
Fair Value upside +123% · Top 25%
Return on equity (TTM) 8% · Above median
Return on assets 5% · Above median
Net margin (TTM) 13% · Top 25%
Operating margin (TTM) 14% · Above median
Revenue growth -1% · Below median
Dividend yield (TTM) 8.9% · Top 25%
Debt / equity 0.02× · Lower than median

Valuation Multiples vs Medical Care Facilities median · lower = cheaper

P/E (TTM) 8.3× · Cheaper than 75% of peers
P/B 0.71× · Cheaper than 75% of peers
P/S (TTM) 1.26× · Pricier than median
P/FCF 1.9× · Cheaper than median
EV/EBITDA 3.7× · Cheaper 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 100 · sector 26
FUTURE 0 · sector 23
PAST 30 · sector 29
HEALTH 99 · sector 90
DIVIDEND 100 · sector 41

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.

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Frequently asked questions

Is Chaoju Eye Care Holdings Ltd (2219) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$5.79 versus a price of HK$2.60, about +123% (undervalued).
What is the fair value of 2219?
Our model-based fair value for Chaoju Eye Care Holdings Ltd is HK$5.79 (as of Aug 13, 2026), built from audited fundamentals. The current price is HK$2.60.
What is the quality score of 2219?
Chaoju Eye Care Holdings Ltd has a Quality Score of 61/100. 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 Chaoju Eye Care Holdings Ltd (2219)?
Chaoju Eye Care Holdings Ltd reported trailing-twelve-month revenue of about HK$1.4B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 2219?
The net profit margin of Chaoju Eye Care Holdings Ltd is about 13.5%, meaning it keeps roughly 13.5% of revenue as net income. Based on the latest reported figures.
Does Chaoju Eye Care Holdings Ltd pay a dividend?
Chaoju Eye Care Holdings Ltd currently shows a dividend yield of about 8.90% 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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