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CHC Healthcare Group (4164) Fair Value & Analysis

Healthcare · TW · Market cap 5.2B TWD

CH CHC Healthcare Group 4164 · TW
Price26.65 TWD
Fair Value16.81 TWD
Upside-36.9%
Quality37/100
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Expensive Growth
Thin margins · 4.5% net margin
Low debt · generates free cash flow
4.03% dividend yield
Mixed vs. peers (6/14)
Narrow moat 32/100
Evidence: High Range 10.41 TWD – 21.10 TWD Share as image

Fair value as of: Jul 23, 2026

From 25 valuation models · updated 18 days ago

Share price −8.1% over the past month.

Below-average quality, and screening another 37% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (21.10 TWD). The favourable scenario is already priced in.
  • Weak quality (37/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • A fairly wide model range (10.41 TWD to 21.10 TWD) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

71.65 TWD 25.90 TWD Fair Value 16.81 TWD Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 23, 2026.

How to read this chart

60‑month range 25.90 TWD – 71.65 TWD · fair‑value band 10.41 TWD – 21.10 TWD · the 26.65 TWD price screens above the 16.81 TWD fair value. Dashed = 300-day average. As of Jul 23, 2026.

Full chart & analysis →

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Analysis

CHC Healthcare Group (4164) currently trades at 26.65 TWD, while our model-based Fair Value estimate is 16.81 TWD, implying the stock looks roughly 36.9% overvalued today. The Quality Score stands at 37/100 (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: high).

Over the trailing twelve months, CHC Healthcare Group generated revenue of 4.6B TWD at a net margin of 4.5%. Revenue grew 15.2% year over year. It earns a return on equity of 3.4%. Net debt stands at 3.6B TWD. Fundamentals as of Jul 23, 2026

Our scenario range runs from 10.41 TWD (bear case) to 21.10 TWD (bull case); at 26.65 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 49% below its 52-week high, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at 2% fair-value upside, at -37%, 4164 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
Growth DCF 2.20 TWD 9.87 TWD 22.50 TWD 80
Residual Income 27.88 TWD 27.03 TWD 21.89 TWD 76
Rev-Margin DCF 7.85 TWD 21.76 TWD 40.15 TWD 74
All 25 models by family
DCF Models
FCF DCF 2.36 TWD 11.01 TWD 25.94 TWD 38
5Y Revenue Exit 7.85 TWD 22.37 TWD 42.72 TWD 39
5Y EBITDA Exit 31.10 TWD 71.38 TWD 123.78 TWD 41
5Y P/E Exit 5.26 TWD 16.91 TWD 30.55 TWD 38
10Y Revenue Exit 5.22 TWD 18.29 TWD 39.48 TWD 36
10Y EBITDA Exit 21.06 TWD 53.84 TWD 107.26 TWD 37
10Y P/E Exit 4.16 TWD 14.33 TWD 29.30 TWD 35
Earnings-Based
Graham-Dodd 6.54 TWD 32.70 TWD 45.13 TWD 54
Lynch FV 8.85 TWD 12.64 TWD 16.43 TWD 50
PEG = 1.0 8.85 TWD 12.64 TWD 16.43 TWD 46
EPV 6.54 TWD 8.85 TWD 10.83 TWD 59
Dividend Discount
Gordon GGM 11.42 TWD 22.75 TWD 34.45 TWD 70
DDM Multi-Stage 11.42 TWD 19.66 TWD 24.02 TWD 61
Multiples
P/E Multiple 15.86 TWD 21.14 TWD 26.43 TWD 63
P/S Multiple 12.25 TWD 16.34 TWD 20.42 TWD 58
P/B Multiple 12.25 TWD 16.34 TWD 20.42 TWD 55
EV/EBIT 18.13 TWD 26.85 TWD 35.57 TWD 53
EV/EBITDA 49.22 TWD 68.31 TWD 87.40 TWD 54
EV/Revenue 10.63 TWD 18.64 TWD 26.64 TWD 43
Asset-Based
NCAV (Graham) 19.68 TWD 26.38 TWD 39.37 TWD 50
Growth DCF
Growth DCF 2.20 TWD 9.87 TWD 22.50 TWD 80
Rev-Margin DCF 7.85 TWD 21.76 TWD 40.15 TWD 74
Economic Profit
Residual Income 27.88 TWD 27.03 TWD 21.89 TWD 76
ROIC Compounder 6.54 TWD 8.85 TWD 10.83 TWD 72
Growth Earnings
Growth-Adj P/E 13.85 TWD 19.78 TWD 25.72 TWD 68

Widest divergence: Asset-Based (26.38 TWD) versus Economic Profit (8.85 TWD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 4.6B TWD
Revenue growth (YoY) +15.2%
Net margin 4.5%
Return on equity 3.4%
Free cash flow 160M TWD FY2025
P/E ratio 27.1
More key figures
Operating margin 6.7%
EPS (TTM) 1.00 TWD
Dividend yield 4.0%
EPS growth (YoY) +165%
Net debt 3.6B TWD FY2025

Figures from reported company fundamentals · as of Jul 23, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 37/100

Of which business quality 39 · Market factors (momentum, volatility) 31

Profitability 20
Margins and returns on capital today
Quality Growth 66
Are margins and returns improving?
Cashflow 53
Earnings quality: real cash, not paper profit
Fin. Strength 41
Balance sheet, leverage, solvency risk
Investment 43
Disciplined investing over empire-building
Low Volatility 82
Calm price path (market factor)
Momentum 15
Price trend over the last 3–12 months (market factor)
52W Momentum 0
Distance to the 52-week high (market factor)
Net Issuance 12
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

CHC Healthcare Group, together with its subsidiaries, trades in medical equipment, pharmaceutical products, and health food in Taiwan, China, and internationally.

Full company description

CHC Healthcare Group, together with its subsidiaries, trades in medical equipment, pharmaceutical products, and health food in Taiwan, China, and internationally. The company is also involved in the leasing, installing, servicing, and repairing of medical instruments for use in various specialties, such as radiation oncology, medical imaging, neurology, surgery, ophthalmology, robot rehabilitation, dentistry, and smart health care. In addition, it engages in the irradiation business; sale of daily necessities, beauty products, and health supplements; elderly residence, long-term care, and senior services; leasing of veterinary medical instruments; department setup, business management consultation, and educational training and staff development for healthcare personnel; technical support and maintenance; radiation sterilization business; and online and physical store pharmacy chain activities. The company was formerly known as Cheng Yeh Holdings Co., Ltd. and changed its name to CHC Healthcare Group in 2012. CHC Healthcare Group was incorporated in 2009 and is headquartered in Taipei, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

CHC Healthcare Group reported revenue of 4.4B TWD in FY2025 versus 2.4B TWD in FY2021, a compound +15.9%/yr. Reported net income was 186M TWD in FY2025, compounding −16.4%/yr from FY2021.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
4.4B TWD
Latest YoY
+22.2%
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.
+13.9%
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.
+11.5%
Avg. growth/yr (16Y) 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.
+22.5%
Revenue +15.9%/yr
FY21 2.4B TWD
FY22 3.0B TWD
FY23 3.9B TWD
FY24 3.6B TWD
FY25 4.4B TWD
Net income −16.4%/yr
FY21 382M TWD
FY22 357M TWD
FY23 419M TWD
FY24 168M TWD
FY25 186M TWD
Character of growth · EPS growth decomposed (2014-2025) −2.3 % p.a.
Revenue per share +2.2 pp

of which total revenue +6.6 pp · buybacks/dilution −4.4 pp

EBIT margin −4.4 pp
Tax rate −0.4 pp
Residual (interest, one-offs) +0.3 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).

4164 screens 37% overvalued. Compare with McKesson Corporation →

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Cite: Fair Value Calculator (2026). "CHC Healthcare Group Fair Value". https://www.fairvalue-calculator.com/stock/4164

Peer Group

Medical Distribution · 81 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 37 · Bottom 25%
Fair Value upside −37% · Below median
Return on equity (TTM) 3% · Below median
Return on assets 2% · Below median
Net margin (TTM) 4% · Top 25%
Operating margin (TTM) 7% · Above median
Revenue growth 15% · Top 25%
Dividend yield (TTM) 4.0% · Top 25%
Debt / equity 0.44× · Higher than 75% of peers

Valuation Multiples vs Medical Distribution median · lower = cheaper

P/E (TTM) 27.1× · Pricier than median
P/B 0.69× · Cheaper than median
P/S (TTM) 1.15× · Pricier than 75% of peers
P/FCF 1.0× · Cheaper than median
EV/EBITDA 6.6× · Pricier than median

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 32
FUTURE 76 · sector 14
PAST 14 · sector 21
HEALTH 78 · sector 97
DIVIDEND 81 · sector 53

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 Medical Distribution stocks, each showing price versus our Fair Value estimate (as of Jul 23, 2026).

Stock Price Fair Value vs Fair Value
McKesson Corporation MCK $805.96 $819.31 +2%
Cencora, Inc COR $303.44 $175.74 -42%
Cardinal Health, Inc CAH $224.94 $141.77 -37%
Henry Schein, Inc HSIC $87.82 $74.67 -15%
Shanghai Pharmaceuticals Holding 601607 ¥16.70 ¥33.96 +103%
Sinopharm Group 1099 HK$16.74 HK$61.33 +266%
Galenica AG GALE CHF 87.05 CHF 61.79 -29%
Guangzhou Baiyunshan Pharmaceutical Holdings 600332 ¥21.50 ¥28.65 +33%
Jointown Pharmaceutical Group 600998 ¥4.99 ¥9.84 +97%
Asker Healthcare Group ASKER kr 79.45 kr 25.69 -68%

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Frequently asked questions

Is CHC Healthcare Group (4164) overvalued or undervalued?
As of Jul 23, 2026, our model estimates a fair value of 16.81 TWD versus a price of 26.65 TWD, about −37% (overvalued).
What is the fair value of 4164?
Our model-based fair value for CHC Healthcare Group is 16.81 TWD (as of Jul 23, 2026), built from audited fundamentals. The current price is 26.65 TWD.
What is the quality score of 4164?
CHC Healthcare Group has a Quality Score of 37/100. 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 CHC Healthcare Group (4164)?
CHC Healthcare Group reported trailing-twelve-month revenue of about 4.6B TWD (latest available figure, as of Jul 23, 2026).
What is the net profit margin of 4164?
The net profit margin of CHC Healthcare Group is about 4.5%, meaning it keeps roughly 4.5% of revenue as net income. Based on the latest reported figures.
Does CHC Healthcare Group pay a dividend?
CHC Healthcare Group currently shows a dividend yield of about 4.03% relative to its recent price (as of Jul 23, 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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