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Boji Medical Technology Co (300404) Fair Value & Analysis

Healthcare · CN · Market cap 3.2B CNY

BM Boji Medical Technology Co 300404 · SHE
Price¥17.34
Fair Value¥1.84
Upside-89.4%
Quality59/100
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Healthy Growth
Thin margins · 4.5% net margin
Low debt · generates free cash flow
0.16% dividend yield
Mixed vs. peers (8/14)
Narrow moat 33/100
Evidence: High Range ¥1.84 – ¥2.17 Share as image

Fair value as of: Aug 13, 2026

From 26 valuation models · updated yesterday

Fair value updated Aug 13, 2026, revised from ¥1.91 to ¥1.84 (−3.7%) since Jul 9, 2026. Share price +82.9% over the past month.

A solid business, but screening 89% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥2.17). The favourable scenario is already priced in.
  • Solid but not exceptional quality (59/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

¥17.34 ¥5.38 Fair Value ¥1.84 Feb 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 ¥5.38 – ¥17.34 · fair‑value band ¥1.84 – ¥2.17 · the ¥17.34 price screens above the ¥1.84 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Boji Medical Technology Co (300404) currently trades at ¥17.34, while our model-based Fair Value estimate is ¥1.84, implying the stock looks roughly 89.4% overvalued today. The Quality Score stands at 59/100 (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, Boji Medical Technology Co generated revenue of 950M CNY at a net margin of 4.5%. Revenue grew 58.5% year over year. It earns a return on equity of 4.2%. The stock trades on a trailing P/E of 76.1 (as of Jun 17, 2026). Fundamentals as of Aug 13, 2026

Our scenario range runs from ¥1.84 (bear case) to ¥2.17 (bull case); at ¥17.34, 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 near its 52-week high and 112% above its 52-week low, currently above its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -47% fair-value upside, at -89%, 300404 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.

Note: the current price implies far more future growth than the conservative anchors of our models allow (base growth is deliberately capped, we do not regard such extreme rates as sustainable). Our models are not designed for expectations this high; that is why the individual models scatter extremely (¥0.2300 to ¥6.58). Read the values as a conservative anchor, not as a price target.
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 ¥3.40 ¥5.51 ¥9.64 80
Residual Income ¥1.89 ¥1.81 ¥1.49 76
Rev-Margin DCF ¥2.70 ¥4.43 ¥7.70 74
All 26 models by family
DCF Models
FCF DCF ¥3.57 ¥5.09 ¥9.83 38
Owner Earnings ¥2.29 ¥4.16 ¥7.94 31
5Y Revenue Exit ¥2.68 ¥3.97 ¥6.65 39
5Y EBITDA Exit ¥3.33 ¥5.29 ¥9.12 41
5Y P/E Exit ¥2.52 ¥4.33 ¥6.73 38
10Y Revenue Exit ¥2.92 ¥5.21 ¥6.58 36
10Y EBITDA Exit ¥3.44 ¥6.58 ¥12.01 37
10Y P/E Exit ¥2.87 ¥4.88 ¥8.04 35
Earnings-Based
Graham-Dodd ¥0.5400 ¥3.75 ¥5.26 54
Lynch FV ¥1.43 ¥2.04 ¥2.65 50
PEG = 1.0 ¥1.43 ¥2.04 ¥2.65 46
EPV ¥2.03 ¥2.23 ¥2.40 59
Dividend Discount
Gordon GGM ¥0.1300 ¥0.2700 ¥0.4100 70
DDM Multi-Stage ¥0.1300 ¥0.2300 ¥0.2800 61
Multiples
P/E Multiple ¥1.30 ¥1.74 ¥2.17 63
P/S Multiple ¥1.01 ¥1.34 ¥1.68 58
P/B Multiple ¥1.01 ¥1.34 ¥1.68 55
EV/EBIT ¥2.74 ¥3.40 ¥4.06 53
EV/EBITDA ¥3.16 ¥3.96 ¥4.76 54
EV/Revenue ¥2.17 ¥2.78 ¥3.39 43
Asset-Based
NCAV (Graham) ¥1.33 ¥1.78 ¥2.66 50
Growth DCF
Growth DCF ¥3.40 ¥5.51 ¥9.64 80
Rev-Margin DCF ¥2.70 ¥4.43 ¥7.70 74
Economic Profit
Residual Income ¥1.89 ¥1.81 ¥1.49 76
ROIC Compounder ¥2.03 ¥2.23 ¥2.40 72
Growth Earnings
Growth-Adj P/E ¥1.85 ¥2.64 ¥3.44 68

Widest divergence: DCF Models (¥4.88) versus Dividend Discount (¥0.2300). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 950M CNY
Revenue growth (YoY) +58.5%
Net margin 4.5%
Return on equity 4.2%
Free cash flow 68.3M CNY FY2025
P/E ratio 76.1 as of Jun 17, 2026
More key figures
Operating margin 8.1%
EPS (TTM) ¥0.1100
Dividend yield 0.2%
EPS growth (YoY) +322%

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

Quality Score breakdown

Overall quality 59/100

Of which business quality 61 · Market factors (momentum, volatility) 74

Profitability 27
Margins and returns on capital today
Quality Growth 43
Are margins and returns improving?
Cashflow 65
Earnings quality: real cash, not paper profit
Fin. Strength 92
Balance sheet, leverage, solvency risk
Investment 75
Disciplined investing over empire-building
Low Volatility 56
Calm price path (market factor)
Momentum 70
Price trend over the last 3–12 months (market factor)
52W Momentum 100
Distance to the 52-week high (market factor)
Net Issuance 70
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

Boji Medical Technology Co.,Ltd. provides professional contract research services for research and development, and production of drugs and medical devices to pharmaceutical enterprises in China and internationally. It offers pre-clinical research, clinical research, and other consulting services.

Full company description

Boji Medical Technology Co.,Ltd. provides professional contract research services for research and development, and production of drugs and medical devices to pharmaceutical enterprises in China and internationally. It offers pre-clinical research, clinical research, and other consulting services. The company also provides clinical drug production, pilot test scale-up, process verification batch production, and drug registration and approval services. In addition, it engages in the screening, evaluation, verification, and trading of technological achievements formed in the process of new drug research and development. The company was formerly known as Guangzhou Boji Medical & Biotechnological Co., Ltd. and changed its name to Boji Medical Technology Co.,Ltd. in September 2021. Boji Medical Technology Co.,Ltd. was founded in 1998 is headquartered in Guangzhou, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Boji Medical Technology Co reported revenue of ¥869M in FY2025 versus ¥324M in FY2021, a compound +27.9%/yr. Reported net income was ¥30.5M in FY2025, compounding −5.9%/yr from FY2021.

Growth Quality 85/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
869M CNY
Latest YoY
+17.1%
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.
+27.0%
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.
+27.2%
Avg. growth/yr (13Y) 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.
+16.0%
Revenue +27.9%/yr
FY21 ¥324M
FY22 ¥424M
FY23 ¥556M
FY24 ¥742M
FY25 ¥869M
Net income −5.9%/yr
FY21 ¥38.9M
FY22 ¥27.7M
FY23 ¥24.3M
FY24 ¥28.8M
FY25 ¥30.5M

300404 screens 89% overvalued. Compare with Vertex Pharmaceuticals Incorporated →

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Cite: Fair Value Calculator (2026). "Boji Medical Technology Co Fair Value". https://www.fairvalue-calculator.com/stock/300404

Peer Group

Biotechnology · 606 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 59 · Top 25%
Fair Value upside −89% · Bottom 25%
Return on equity (TTM) 4% · Above median
Return on assets 1% · Above median
Net margin (TTM) 5% · Above median
Operating margin (TTM) 8% · Above median
Revenue growth 59% · Top 25%
Dividend yield (TTM) 0.2% · Bottom 25%
Debt / equity 0.03× · Lower than median

Valuation Multiples vs Biotechnology median · lower = cheaper

P/E (TTM) 76.1× · Pricier than 75% of peers
P/B 3.15× · Pricier than median
P/S (TTM) 3.40× · Cheaper than median
P/FCF 7.0× · Pricier than median
EV/EBITDA 52.1× · 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 0
FUTURE 100 · sector 0
PAST 17 · sector 0
HEALTH 98 · sector 97
DIVIDEND 3 · sector 23

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

Insider activity: 45/100

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 Biotechnology stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Vertex Pharmaceuticals Incorporated VRTX $525.73 $278.78 -47%
Regeneron Pharmaceuticals, Inc REGN $797.99 $594.40 -26%
Samsung Biologics Co 207940 1,549,000 KRW 1,055,793 KRW -32%
Celltrion, Inc 068270 202,000 KRW 74,519 KRW -63%
WuXi Biologics (Cayman) Inc 2269 HK$45.70 HK$30.58 -33%
Innovent Biologics, Inc 1801 HK$95.55 HK$19.68 -79%
Genmab A/S GMAB kr 2,037 kr 250.07 -88%
Sino Biopharmaceutical Limited 1177 HK$4.87 HK$3.37 -31%
RemeGen Co 688331 ¥131.87 ¥23.19 -82%
ALTEOGEN Inc 196170 317,500 KRW 39,476 KRW -88%

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Frequently asked questions

Is Boji Medical Technology Co (300404) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of ¥1.84 versus a price of ¥17.34, about −89% (overvalued).
What is the fair value of 300404?
Our model-based fair value for Boji Medical Technology Co is ¥1.84 (as of Aug 13, 2026), built from audited fundamentals. The current price is ¥17.34.
What is the quality score of 300404?
Boji Medical Technology Co has a Quality Score of 59/100. 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 Boji Medical Technology Co (300404)?
Boji Medical Technology Co reported trailing-twelve-month revenue of about 950M CNY (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 300404?
The net profit margin of Boji Medical Technology Co is about 4.5%, meaning it keeps roughly 4.5% of revenue as net income. Based on the latest reported figures.
Does Boji Medical Technology Co pay a dividend?
Boji Medical Technology Co currently shows a dividend yield of about 0.16% 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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