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Meribank Biotech Co (4724) Fair Value & Analysis

Healthcare · TW · Market cap 932M TWD

MB Meribank Biotech Co 4724 · TWO
Price8.97 TWD
Fair Value11.87 TWD
Upside+32.3%
Quality34/100
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Mixed Growth
Loss-making · -17.3% net margin
Low debt · generates free cash flow
Mixed vs. peers (6/11)
Narrow moat 17/100
Evidence: Medium Range 8.76 TWD – 14.98 TWD Share as image

Fair value as of: Jul 23, 2026

From 11 valuation models · updated 18 days ago

Share price −10.7% over the past month.

Below-average quality, screening 32% undervalued on our models.

What matters now

  • The large discount to fair value meets weak quality (34/100). That raises the risk this is a value trap rather than a bargain.
  • Our model range runs from 8.76 TWD (bear) to 14.98 TWD (bull), base 11.87 TWD. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 34/100 (below-average quality) with medium evidence: read the verdict with care.
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Price vs Fair Value (8 months)

17.35 TWD 8.94 TWD Fair Value 11.87 TWD Dec 2025 Aug 2026

White line = price, green steps = our fair value per fiscal year. As of Jul 23, 2026.

How to read this chart

8‑month range 8.94 TWD – 17.35 TWD · fair‑value band 8.76 TWD – 14.98 TWD · the 8.97 TWD price screens below the 11.87 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Jul 23, 2026.

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Analysis

Meribank Biotech Co (4724) currently trades at 8.97 TWD, while our model-based Fair Value estimate is 11.87 TWD, implying the stock looks roughly 32.3% undervalued today. The Quality Score stands at 34/100 (below-average 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: medium), always confirm before acting.

Over the trailing twelve months, Meribank Biotech Co generated revenue of 472M TWD at a net margin of -17.3%. Revenue declined 6.3% year over year. It earns a return on equity of -6.6%. Net debt stands at 65.4M TWD. Fundamentals as of Jul 23, 2026

Our scenario range runs from 8.76 TWD (bear case) to 14.98 TWD (bull case); at 8.97 TWD, the current price sits within 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 48% below its 52-week high and 4% above its 52-week low, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -43% fair-value upside, at 32%, 4724 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 10.63 TWD 18.04 TWD 31.68 TWD 80
Rev-Margin DCF 9.51 TWD 18.28 TWD 35.25 TWD 74
EV/EBITDA 10.38 TWD 14.04 TWD 17.70 TWD 54
All 11 models by family
DCF Models
FCF DCF 11.39 TWD 16.90 TWD 33.38 TWD 38
Owner Earnings 8.57 TWD 18.40 TWD 36.65 TWD 31
5Y Revenue Exit 9.18 TWD 15.90 TWD 29.94 TWD 39
5Y EBITDA Exit 10.83 TWD 19.24 TWD 35.70 TWD 41
10Y Revenue Exit 9.67 TWD 20.73 TWD 27.43 TWD 36
10Y EBITDA Exit 11.08 TWD 23.97 TWD 46.04 TWD 37
Multiples
EV/EBITDA 10.38 TWD 14.04 TWD 17.70 TWD 54
EV/Revenue 7.41 TWD 10.85 TWD 14.29 TWD 43
Asset-Based
NCAV (Graham) 6.51 TWD 8.72 TWD 13.02 TWD 50
Growth DCF
Growth DCF 10.63 TWD 18.04 TWD 31.68 TWD 80
Rev-Margin DCF 9.51 TWD 18.28 TWD 35.25 TWD 74

Widest divergence: DCF Models (18.40 TWD) versus Asset-Based (8.72 TWD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 472M TWD
Revenue growth (YoY) -6.3%
Net margin -17.3%
Return on equity -6.6%
Free cash flow 84.6M TWD FY2025
Operating margin -18.2%
More key figures
EPS (TTM) -0.8900 TWD
Net debt 65.4M TWD FY2025

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

Quality Score breakdown

Overall quality 34/100

Of which business quality 39 · Market factors (momentum, volatility) 22

Profitability 5
Margins and returns on capital today
Quality Growth 64
Are margins and returns improving?
Cashflow 81
Earnings quality: real cash, not paper profit
Fin. Strength 41
Balance sheet, leverage, solvency risk
Investment 33
Disciplined investing over empire-building
Low Volatility 65
Calm price path (market factor)
Momentum 6
Price trend over the last 3–12 months (market factor)
52W Momentum 2
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

Meribank Biotech Co., Ltd researches, develops, manufactures, and stores mesenchymal stem cells in Taiwan. The company engages in the detection, extraction, cryopreservation, archiving, and storage of umbilical cord blood, placental and umbilical cord mesenchymal stem cells, adult peripheral blood stem cells, and immune cells.

Full company description

Meribank Biotech Co., Ltd researches, develops, manufactures, and stores mesenchymal stem cells in Taiwan. The company engages in the detection, extraction, cryopreservation, archiving, and storage of umbilical cord blood, placental and umbilical cord mesenchymal stem cells, adult peripheral blood stem cells, and immune cells. It also provides cell cryopreservation services. The company was founded in 2001 and is based in Taipei, Taiwan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Meribank Biotech Co reported revenue of 472M TWD in FY2025 versus 163M TWD in FY2021, a compound +30.4%/yr. Reported net income was −81.5M TWD in FY2025.

Growth Quality 67/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
472M TWD
Latest YoY
+28.7%
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.
+37.8%
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.
+19.4%
Avg. growth/yr (6Y) 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.
+19.6%
Revenue +30.4%/yr
FY21 163M TWD
FY22 180M TWD
FY23 234M TWD
FY24 366M TWD
FY25 472M TWD
Net income
FY21 −99.2M TWD
FY22 −102M TWD
FY23 −125M TWD
FY24 −94.7M TWD
FY25 −81.5M TWD

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Cite: Fair Value Calculator (2026). "Meribank Biotech Co Fair Value". https://www.fairvalue-calculator.com/stock/4724

Peer Group

Biotechnology · 601 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 34 · Below median
Fair Value upside +32% · Top 25%
Return on assets -1% · Above median
Net margin (TTM) -17% · Bottom 25%
Operating margin (TTM) -18% · Bottom 25%
Revenue growth -6% · Below median
Debt / equity 0.12× · Higher than median

Valuation Multiples vs Biotechnology median · lower = cheaper

P/S (TTM) 0.06× · Cheaper than 75% of peers
P/FCF 0.3× · Cheaper than 75% of peers
EV/EBITDA 12.1× · Cheaper 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 76 · sector 0
FUTURE 0 · sector 0
PAST 0 · sector 0
HEALTH 94 · sector 98
DIVIDEND 0 · sector 23

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 Jul 23, 2026).

Stock Price Fair Value vs Fair Value
Vertex Pharmaceuticals Incorporated VRTX $486.03 $278.78 -43%
Regeneron Pharmaceuticals, Inc REGN $664.45 $594.40 -11%
Samsung Biologics Co 207940 1,368,000 KRW 1,091,384 KRW -20%
Celltrion, Inc 068270 175,800 KRW 76,325 KRW -57%
WuXi Biologics (Cayman) Inc 2269 HK$39.54 HK$30.42 -23%
Innovent Biologics, Inc 1801 HK$86.70 HK$19.66 -77%
Sino Biopharmaceutical Limited 1177 HK$5.26 HK$3.36 -36%
ALTEOGEN Inc 196170 276,500 KRW 44,444 KRW -84%
RemeGen Co 688331 ¥134.02 ¥26.99 -80%
Biocon Limited BIOCON ₹440.70 ₹57.36 -87%

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Frequently asked questions

Is Meribank Biotech Co (4724) overvalued or undervalued?
As of Jul 23, 2026, our model estimates a fair value of 11.87 TWD versus a price of 8.97 TWD, about +32% (undervalued).
What is the fair value of 4724?
Our model-based fair value for Meribank Biotech Co is 11.87 TWD (as of Jul 23, 2026), built from audited fundamentals. The current price is 8.97 TWD.
What is the quality score of 4724?
Meribank Biotech Co has a Quality Score of 34/100. 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 Meribank Biotech Co (4724)?
Meribank Biotech Co reported trailing-twelve-month revenue of about 472M TWD (latest available figure, as of Jul 23, 2026).
What is the net profit margin of 4724?
The net profit margin of Meribank Biotech Co is about -17.3%, 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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