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Phytohealth Corp (4108) Fair Value & Analysis

Healthcare · TW · Market cap 2.3B TWD

PC Phytohealth Corp 4108 · TW
Price11.05 TWD
Fair Value3.95 TWD
Upside-64.3%
Quality41/100
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Risks

!Trades 180% ABOVE our fair value of 3.95 TWD
!Expensive Growth (revenue 5y +7.9 %/yr)
!Loss-making · -42.7% net margin
!negative free cash flow
Expensive Growth (revenue 5y +7.9 %/yr)
Loss-making · -42.7% net margin
negative free cash flow
Trails peers (2/8)
Narrow moat 8/100
Evidence: Low Range 2.60 TWD – 4.93 TWD Share as image

Fair value as of: Aug 13, 2026

From 1 valuation models · updated 11 days ago

Share price −6.0% over the past month.

Below-average quality, and trading another 180% above our fair value.

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69 individual criteria per stock, every one traceable See the method →

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What matters now

  • The price sits above even our optimistic bull case (4.93 TWD). The favourable scenario is already priced in.
  • Weak quality (41/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
  • A fairly wide model range (2.60 TWD to 4.93 TWD) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

29.05 TWD 10.75 TWD Fair Value 3.95 TWD Mar 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 10.75 TWD – 29.05 TWD · fair‑value band 2.60 TWD – 4.93 TWD · the 11.05 TWD price screens above the 3.95 TWD fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Phytohealth Corp (4108) currently trades at 11.05 TWD, while our model-based Fair Value estimate is 3.95 TWD, implying the stock looks roughly 64.3% overvalued today. The Quality Score stands at 41/100 (below-average 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: low).

Over the trailing twelve months, Phytohealth Corp generated revenue of 139M TWD at a net margin of -42.7%. Revenue grew 13.0% year over year. It earns a return on equity of -4.8%. The balance sheet holds a net cash position of 71.1M TWD. Fundamentals as of Aug 13, 2026

Our scenario range runs from 2.60 TWD (bear case) to 4.93 TWD (bull case); at 11.05 TWD, 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 38% below its 52-week high, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -35% fair-value upside, at -64%, 4108 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 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
NCAV (Graham) 4.71 TWD 6.32 TWD 9.43 TWD 50
All 1 models by family
Asset-Based
NCAV (Graham) 4.71 TWD 6.32 TWD 9.43 TWD 50

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Key figures & financial health

P/S ratio 16.8 TTM
Net margin -42.7% TTM
Return on equity -4.8% TTM
Return on assets -4.6% TTM
Operating margin -96.2% TTM
EPS (TTM) -0.2900 TWD
More key figures
Growth
Revenue (TTM) 139M TWD TTM
Revenue growth (YoY) +13.0% 3y avg -0.2%
EPS growth (YoY) +50.0%
Balance sheet & cash flow
Free cash flow −45.3M TWD FY2025
Net cash 71.1M TWD FY2025

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

Quality Score breakdown

Overall quality 41/100

Of which business quality 41 · Market factors (momentum, volatility) 37

Profitability 4
Margins and returns on capital today
Quality Growth 21
Are margins and returns improving?
Cashflow 4
Earnings quality: real cash, not paper profit
Fin. Strength 78
Balance sheet, leverage, solvency risk
Investment 96
Disciplined investing over empire-building
Low Volatility 80
Calm price path (market factor)
Momentum 26
Price trend over the last 3–12 months (market factor)
52W Momentum 9
Distance to the 52-week high (market factor)
Net Issuance 75
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

PhytoHealth Corporation researches, develops, manufactures, and sells medicines, cosmetics, Class B medicines, complementary foods, and other related products in Taiwan. It operates in three segments: Medicines and Health Food, Medical Diagnosis, and Precision Medical Equipment and Instruments.

Full company description

PhytoHealth Corporation researches, develops, manufactures, and sells medicines, cosmetics, Class B medicines, complementary foods, and other related products in Taiwan. It operates in three segments: Medicines and Health Food, Medical Diagnosis, and Precision Medical Equipment and Instruments. The Medicines and Health Food segment manufactures and sells Chinese medicine materials and new drugs. The Medical Diagnosis segment develops and sells smart medical imaging diagnostic products. The Precision Medical Equipment and Instruments segment engages in the research and development, manufacturing, and sale of ultrasound probes and analysis systems. Its products under development include PHN031, which has completed Phase II clinical trials for the treatment of osteoporosis, and PHN033, which has completed Phase II clinical trials for the treatment of diabetic nephropathy. The company is also developing PHN016, which is in Phase II clinical trials for the treatment of cancer, and PHN017, which is in Phase I trials for the treatment of severe infection-induced cytokine storm. In addition, it offers PG2 Lyophilized Injection for the treatment of cancer-related fatigue and capsules for acute moderate to severe pain. PhytoHealth Corporation was incorporated in 1998 and is based in Taipei, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Phytohealth Corp reported revenue of 135M TWD in FY2025 versus 169M TWD in FY2021, a compound −5.5%/yr. Reported net income was −58.2M TWD in FY2025.

Growth Quality 24/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
135M TWD
Latest YoY
−12.4%
Avg. revenue 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.
−0.2%
Avg. revenue 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.
+7.9%
Avg. revenue growth/yr (22Y) 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.
+12.2%
Value creation/yr We only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Revenue −5.5%/yr
FY21 169M TWD
FY22 135M TWD
FY23 162M TWD
FY24 154M TWD
FY25 135M TWD
Net income
FY21 −78.0M TWD
FY22 −115M TWD
FY23 −47.1M TWD
FY24 −73.5M TWD
FY25 −58.2M TWD

4108 screens 64% overvalued. Compare with Merck KGaA →

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Cite: Fair Value Calculator (2026). "Phytohealth Corp Fair Value". https://www.fairvalue-calculator.com/stock/4108

Peer Group

Drug Manufacturers - Specialty & Generic · 635 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 41 · Below median
Fair Value upside −64% · Bottom 25%
Return on assets -5% · Bottom 25%
Net margin (TTM) -43% · Bottom 25%
Operating margin (TTM) -96% · Bottom 25%
Revenue growth 13% · Above median

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

P/S (TTM) 0.53× · 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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 4
FUTURE65 · sector 21
PAST0 · sector 22
HEALTH0 · sector 97
DIVIDEND0 · sector 29

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

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
Merck KGaA MRK €140.00 €106.48 -24%
Takeda Pharmaceutical Company TAK $17.41 $11.29 -35%
Jiangsu Hengrui Pharmaceuticals Co 600276 ¥53.76 ¥25.94 -52%
Galderma Group GALD CHF 178.55 CHF 55.07 -69%
Sun Pharmaceutical Industries Limited SUNPHARMA ₹1,944 ₹989.50 -49%
Haleon plc HLN $9.80 $7.62 -22%
Teva Pharmaceutical Industries Limited TEVA $36.74 $15.37 -58%
Sandoz Group SDZ CHF 72.64 CHF 48.68 -33%
Zoetis Inc ZTS $73.54 $104.88 +43%
Hansoh Pharmaceutical Group 3692 HK$33.50 HK$16.14 -52%

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Frequently asked questions

Is Phytohealth Corp (4108) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 3.95 TWD versus a price of 11.05 TWD, about −64% (overvalued).
What is the fair value of 4108?
Our model-based fair value for Phytohealth Corp is 3.95 TWD (as of Aug 13, 2026), built from audited fundamentals. The current price: 11.05 TWD.
What is the quality score of 4108?
Phytohealth Corp has a Quality Score of 41/100. 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 Phytohealth Corp (4108)?
Phytohealth Corp reported trailing-twelve-month revenue of about 139M TWD (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 4108?
The net profit margin of Phytohealth Corp is about -42.7%, meaning it is currently running at a net loss. Based on the latest reported figures.

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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