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Doctorglasses Chain Co (300622) Fair Value & Analysis

Consumer Cyclical · CN · Market cap 5.0B CNY

DC Doctorglasses Chain Co 300622 · SHE
Price¥15.68
Fair Value¥8.71
Upside-44.4%
Quality62/100
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Healthy Growth
Solidly profitable · 11.4% net margin
generates free cash flow
12.53% dividend yield
Ranks above peers (8/13)
Moderate moat 60/100
Evidence: High Range ¥6.54 – ¥10.89 Share as image

Fair value as of: Jul 9, 2026

From 24 valuation models · updated 32 days ago

Share price +12.1% over the past month.

A solid business, but screening 44% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥10.89). The favourable scenario is already priced in.
  • Solid but not exceptional quality (62/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

¥31.82 ¥6.12 Fair Value ¥8.71 Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 9, 2026.

How to read this chart

60‑month range ¥6.12 – ¥31.82 · fair‑value band ¥6.54 – ¥10.89 · the ¥15.68 price screens above the ¥8.71 fair value. Dashed = 300-day average. As of Jul 9, 2026.

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Analysis

Doctorglasses Chain Co (300622) currently trades at ¥15.68, while our model-based Fair Value estimate is ¥8.71, implying the stock looks roughly 44.4% overvalued today. The Quality Score stands at 62/100 (solid quality), in the Consumer Cyclical 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, Doctorglasses Chain Co generated revenue of 1.4B CNY at a net margin of 11.4%. Revenue grew 8.3% year over year. It earns a return on equity of 18.6%. The balance sheet holds a net cash position of 28.9M CNY. Fundamentals as of Jul 9, 2026

Our scenario range runs from ¥6.54 (bear case) to ¥10.89 (bull case); at ¥15.68, 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 43% below its 52-week high and 5% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -24% fair-value upside, at -44%, 300622 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.

Model BearBaseBull Evidence
Highest evidence
Residual Income ¥2.97 ¥3.91 ¥11.24 76
Growth DCF ¥11.37 ¥19.50 ¥32.93 72
Growth-Adj P/E ¥6.76 ¥9.65 ¥12.55 68
All 24 models by family
DCF Models
FCF DCF ¥11.55 ¥20.74 ¥36.67 38
Owner Earnings ¥10.86 ¥19.49 ¥34.42 31
5Y Revenue Exit ¥6.56 ¥9.97 ¥14.42 39
5Y EBITDA Exit ¥9.74 ¥16.68 ¥25.46 41
5Y P/E Exit ¥8.97 ¥15.06 ¥22.07 38
10Y Revenue Exit ¥8.06 ¥11.90 ¥17.54 36
10Y EBITDA Exit ¥10.26 ¥16.77 ¥26.79 37
10Y P/E Exit ¥9.76 ¥15.59 ¥23.95 35
Earnings-Based
Graham-Dodd ¥3.17 ¥15.99 ¥22.08 54
Lynch FV ¥4.34 ¥6.20 ¥8.05 50
PEG = 1.0 ¥4.34 ¥6.20 ¥8.05 46
EPV ¥5.07 ¥5.77 ¥6.38 59
Multiples
P/E Multiple ¥7.69 ¥10.25 ¥12.81 63
P/S Multiple ¥3.84 ¥5.12 ¥6.40 58
P/B Multiple ¥5.94 ¥7.92 ¥9.90 55
EV/EBIT ¥8.42 ¥11.03 ¥13.63 53
EV/EBITDA ¥9.51 ¥12.48 ¥15.45 54
EV/Revenue ¥4.17 ¥5.71 ¥7.24 43
Asset-Based
NCAV (Graham) ¥1.42 ¥1.91 ¥2.85 50
Growth DCF
Growth DCF ¥11.37 ¥19.50 ¥32.93 72
Rev-Margin DCF ¥6.56 ¥9.99 ¥14.55 67
Economic Profit
Residual Income ¥2.97 ¥3.91 ¥11.24 76
ROIC Compounder ¥5.72 ¥7.47 ¥9.72 67
Growth Earnings
Growth-Adj P/E ¥6.76 ¥9.65 ¥12.55 68

Widest divergence: DCF Models (¥15.59) versus Asset-Based (¥1.91). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 1.4B CNY
Revenue growth (YoY) +8.3%
Net margin 11.4%
Return on equity 18.6%
Free cash flow 276M CNY FY2025
P/E ratio 31.7
More key figures
Operating margin 14.1%
EPS (TTM) ¥0.4900
Dividend yield 12.5%
EPS growth (YoY) +30.7%
Net cash 28.9M CNY FY2024

Figures from reported company fundamentals · as of Jul 9, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 62/100

Of which business quality 65 · Market factors (momentum, volatility) 26

Profitability 71
Margins and returns on capital today
Quality Growth 53
Are margins and returns improving?
Cashflow 89
Earnings quality: real cash, not paper profit
Fin. Strength 89
Balance sheet, leverage, solvency risk
Investment 64
Disciplined investing over empire-building
Low Volatility 67
Calm price path (market factor)
Momentum 12
Price trend over the last 3–12 months (market factor)
52W Momentum 3
Distance to the 52-week high (market factor)
Net Issuance 0
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

Doctorglasses Chain Co.,Ltd. engages in the retail of eyewear in China. It offers optical glasses; smart glasses; ready-to-wear glasses series, including sunglasses, reading glasses, etc.; contact lenses; soft/hard contact lenses; care solutions, and eye health peripheral products.

Full company description

Doctorglasses Chain Co.,Ltd. engages in the retail of eyewear in China. It offers optical glasses; smart glasses; ready-to-wear glasses series, including sunglasses, reading glasses, etc.; contact lenses; soft/hard contact lenses; care solutions, and eye health peripheral products. The company provides eye examinations and fitting, wearing, and debugging, to after-sales visit. It sells its products through its store brands comprising doctor glasses, President Optical, Boojing, zèle, Concrete, and ZORRO, as well as through e-commerce and franchise channels. Doctorglasses Chain Co.,Ltd. was founded in 1993 and is headquartered in Shenzhen, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Doctorglasses Chain Co reported revenue of ¥1.4B in FY2025 versus ¥887M in FY2021, a compound +11.3%/yr. Reported net income was ¥149M in FY2025, compounding +11.9%/yr from FY2021.

Growth Quality 100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
1.4B CNY
Latest YoY
+13.1%
Avg. growth/yr (3Y)
+12.2%
Avg. growth/yr (5Y)
+15.7%
Avg. growth/yr (13Y)
+13.2%
Revenue +11.3%/yr
FY21 ¥887M
FY22 ¥962M
FY23 ¥1.2B
FY24 ¥1.2B
FY25 ¥1.4B
Net income +11.9%/yr
FY21 ¥94.8M
FY22 ¥75.8M
FY23 ¥128M
FY24 ¥104M
FY25 ¥149M

300622 screens 44% overvalued. Compare with Casey's General Stores, Inc →

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Cite: Fair Value Calculator (2026). "Doctorglasses Chain Co Fair Value". https://www.fairvalue-calculator.com/stock/300622

Peer Group

Specialty Retail · 221 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 62 · Above median
Fair Value upside −44% · Bottom 25%
Return on equity (TTM) 19% · Top 25%
Return on assets 8% · Top 25%
Net margin (TTM) 11% · Top 25%
Operating margin (TTM) 14% · Top 25%
Revenue growth 8% · Above median
Dividend yield (TTM) 12.5% · Top 25%

Valuation Multiples vs Specialty Retail median · lower = cheaper

P/E (TTM) 31.7× · Pricier than 75% of peers
P/B 5.46× · Pricier than 75% of peers
P/S (TTM) 3.57× · Pricier than 75% of peers
P/FCF 2.7× · Cheaper than median
EV/EBITDA 25.1× · 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 31
FUTURE 42 · sector 23
PAST 74 · sector 27
HEALTH 0 · sector 94
DIVIDEND 100 · sector 51

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 Specialty Retail stocks, each showing price versus our Fair Value estimate (as of Jul 9, 2026).

Stock Price Fair Value vs Fair Value
Casey's General Stores, Inc CASY $827.04 $405.44 -51%
Williams-Sonoma, Inc WSM $222.84 $164.16 -26%
Ulta Beauty, Inc ULTA $479.57 $488.39 +2%
DICK'S Sporting Goods, Inc DKS $208.89 $181.10 -13%
Best Buy Co BBY $83.98 $109.12 +30%
China Tourism Group 601888 ¥52.90 ¥40.40 -24%
Tractor Supply Company TSCO $31.01 $35.52 +15%
Murphy USA Inc MUSA $618.57 $423.35 -32%
Five Below, Inc FIVE $197.71 $117.29 -41%
Taiwan Mobile Co 3045 110.50 TWD 80.98 TWD -27%

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Frequently asked questions

Is Doctorglasses Chain Co (300622) overvalued or undervalued?
As of Jul 9, 2026, our model estimates a fair value of ¥8.71 versus a price of ¥15.68, about −44% (overvalued).
What is the fair value of 300622?
Our model-based fair value for Doctorglasses Chain Co is ¥8.71 (as of Jul 9, 2026), built from audited fundamentals. The current price is ¥15.68.
What is the quality score of 300622?
Doctorglasses Chain Co has a Quality Score of 62/100. 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 Doctorglasses Chain Co (300622)?
Doctorglasses Chain Co reported trailing-twelve-month revenue of about 1.4B CNY (latest available figure, as of Jul 9, 2026).
What is the net profit margin of 300622?
The net profit margin of Doctorglasses Chain Co is about 11.4%, meaning it keeps roughly 11.4% of revenue as net income. Based on the latest reported figures.
Does Doctorglasses Chain Co pay a dividend?
Doctorglasses Chain Co currently shows a dividend yield of about 12.53% relative to its recent price (as of Jul 9, 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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