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Tianjin Pharmaceutical Da Ren Tang Group (600329) Fair Value & Analysis

Healthcare · CN · Market cap 28.6B CNY

TP Tianjin Pharmaceutical Da Ren Tang Group 600329 · SHG
Price¥37.18
Fair Value¥34.08
Upside-8.3%
Quality75/100
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Mixed Growth
Highly profitable · 43.8% net margin
Low debt · generates free cash flow
12.99% dividend yield
Ranks above peers (11/15)
Wide moat 84/100
Evidence: High Range ¥26.13 – ¥41.32 Share as image

Fair value as of: Aug 8, 2026

From 23 valuation models · updated 2 days ago

Share price −1.3% over the past month.

A strong business, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • Our model range runs from ¥26.13 (bear) to ¥41.32 (bull), base ¥34.08. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 75/100 (high quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

¥54.12 ¥16.46 Fair Value ¥34.08 Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 8, 2026.

How to read this chart

60‑month range ¥16.46 – ¥54.12 · fair‑value band ¥26.13 – ¥41.32 · the ¥37.18 price screens above the ¥34.08 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 8, 2026.

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Analysis

Tianjin Pharmaceutical Da Ren Tang Group (600329) currently trades at ¥37.18, while our model-based Fair Value estimate is ¥34.08, implying the stock looks roughly 8.3% fairly valued today. The Quality Score stands at 75/100 (high 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, Tianjin Pharmaceutical Da Ren Tang Group generated revenue of 5.0B CNY at a net margin of 43.8%. Revenue grew 4.1% year over year. It earns a return on equity of 27.5%. The balance sheet holds a net cash position of 2.9B CNY. Fundamentals as of Aug 8, 2026

Our scenario range runs from ¥26.13 (bear case) to ¥41.32 (bull case); at ¥37.18, 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 27% below its 52-week high and 17% above its 52-week low, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -49% fair-value upside, at -8%, 600329 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 BearBaseBull Evidence
Highest evidence
Growth DCF ¥7.85 ¥10.30 ¥13.60 80
Residual Income ¥25.54 ¥35.46 ¥252.14 76
Rev-Margin DCF ¥12.83 ¥19.90 ¥27.23 74
All 23 models by family
DCF Models
FCF DCF ¥7.65 ¥10.24 ¥13.87 38
Owner Earnings ¥40.42 ¥56.56 ¥79.11 31
5Y Revenue Exit ¥12.83 ¥19.89 ¥28.61 39
5Y EBITDA Exit ¥14.70 ¥23.18 ¥32.60 41
5Y P/E Exit ¥37.67 ¥63.43 ¥88.90 38
10Y Revenue Exit ¥10.37 ¥16.30 ¥23.62 36
10Y EBITDA Exit ¥11.98 ¥18.51 ¥26.49 37
10Y P/E Exit ¥26.25 ¥45.50 ¥66.97 35
Earnings-Based
Graham-Dodd ¥25.42 ¥54.02 ¥68.52 54
PEG = 1.0 ¥8.22 ¥11.74 ¥15.26 46
EPV ¥11.51 ¥13.20 ¥14.68 59
Multiples
P/E Multiple ¥61.68 ¥82.24 ¥102.80 63
P/S Multiple ¥22.64 ¥30.19 ¥37.74 58
P/B Multiple ¥42.03 ¥56.04 ¥70.05 55
EV/EBIT ¥23.08 ¥30.32 ¥37.56 53
EV/EBITDA ¥21.38 ¥28.05 ¥34.72 54
EV/Revenue ¥16.86 ¥23.51 ¥30.15 43
Asset-Based
NCAV (Graham) ¥6.23 ¥8.34 ¥12.45 50
Growth DCF
Growth DCF ¥7.85 ¥10.30 ¥13.60 80
Rev-Margin DCF ¥12.83 ¥19.90 ¥27.23 74
Economic Profit
Residual Income ¥25.54 ¥35.46 ¥252.14 76
ROIC Compounder ¥11.51 ¥13.42 ¥15.74 72
Growth Earnings
Growth-Adj P/E ¥45.29 ¥64.70 ¥84.11 68

Widest divergence: Growth Earnings (¥64.70) versus Asset-Based (¥8.34). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 5.0B CNY
Revenue growth (YoY) +4.1%
Net margin 43.8%
Return on equity 27.5%
Free cash flow 342M CNY FY2025
P/E ratio 13.1
More key figures
Operating margin 33.0%
EPS (TTM) ¥2.83
Dividend yield 13.0%
EPS growth (YoY) +12.2%
Net cash 2.9B CNY FY2024

Figures from reported company fundamentals · as of Aug 8, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 75/100

Of which business quality 70 · Market factors (momentum, volatility) 43

Profitability 76
Margins and returns on capital today
Quality Growth 45
Are margins and returns improving?
Cashflow 37
Earnings quality: real cash, not paper profit
Fin. Strength 84
Balance sheet, leverage, solvency risk
Investment 86
Disciplined investing over empire-building
Low Volatility 78
Calm price path (market factor)
Momentum 30
Price trend over the last 3–12 months (market factor)
52W Momentum 26
Distance to the 52-week high (market factor)
Net Issuance 100
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

Tianjin Pharmaceutical Da Ren Tang Group Corporation Limited engages in the research, development, processing, manufacturing, and sale of traditional Chinese medicine in China.

Full company description

Tianjin Pharmaceutical Da Ren Tang Group Corporation Limited engages in the research, development, processing, manufacturing, and sale of traditional Chinese medicine in China. It provides pharmaceutical products for cardiovascular and cerebrovascular, skin wound repair, health preservation, respiratory, digestion, rheumatism and osteodynia, urological, gynecological and pediatric, ophthalmological, tumor, chronic, and other diseases, as well as tonic drugs. The company was formerly known as Tianjin Zhong Xin Pharmaceutical Group Corporation Limited and changed its name to Tianjin Pharmaceutical Da Ren Tang Group Corporation Limited in May 2022. The company was founded in 1915 and is based in Tianjin, the People's Republic of China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Tianjin Pharmaceutical Da Ren Tang Group reported revenue of ¥4.9B in FY2025 versus ¥6.9B in FY2021, a compound −8.1%/yr. Reported net income was ¥2.1B in FY2025, compounding +29.0%/yr from FY2021.

Growth Quality 55/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
4.9B CNY
Latest YoY
−32.7%
Avg. growth/yr (3Y)
−15.8%
Avg. growth/yr (5Y)
−5.7%
Avg. growth/yr (25Y)
+7.4%
Revenue −8.1%/yr
FY21 ¥6.9B
FY22 ¥8.2B
FY23 ¥8.2B
FY24 ¥7.3B
FY25 ¥4.9B
Net income +29.0%/yr
FY21 ¥769M
FY22 ¥862M
FY23 ¥987M
FY24 ¥2.2B
FY25 ¥2.1B

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Cite: Fair Value Calculator (2026). "Tianjin Pharmaceutical Da Ren Tang Group Fair Value". https://www.fairvalue-calculator.com/stock/600329

Peer Group

Drug Manufacturers - Specialty & Generic · 626 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 75 · Top 25%
Fair Value upside −8% · Above median
Return on equity (TTM) 27% · Top 25%
Return on assets 6% · Above median
Net margin (TTM) 44% · Top 25%
Operating margin (TTM) 33% · Top 25%
Revenue growth 4% · Above median
Dividend yield (TTM) 13.0% · Top 25%
Debt / equity 0.03× · Lower than median

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

P/E (TTM) 13.1× · Cheaper than 75% of peers
P/B 4.03× · Pricier than 75% of peers
P/S (TTM) 5.75× · Pricier than 75% of peers
P/FCF 12.4× · Pricier than 75% of peers
EV/EBITDA 24.7× · Pricier than 75% of peers
PEG 0.75× · 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 22 · sector 7
FUTURE 21 · sector 20
PAST 100 · sector 23
HEALTH 98 · sector 97
DIVIDEND 100 · sector 34

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 Drug Manufacturers - Specialty & Generic stocks, each showing price versus our Fair Value estimate (as of Aug 8, 2026).

Stock Price Fair Value vs Fair Value
Jiangsu Hengrui Pharmaceuticals Co 600276 ¥53.19 ¥25.94 -51%
Sun Pharmaceutical Industries Limited SUNPHARMA ₹1,933 ₹989.50 -49%
Divi's Laboratories Limited DIVISLAB ₹7,316 ₹1,943 -73%
Torrent Pharmaceuticals Limited TORNTPHARM ₹4,763 ₹1,329 -72%
PharmaEssentia Corporation 6446 1,285 TWD 221.01 TWD -83%
Cipla Limited CIPLA ₹1,439 ₹1,001 -30%
Zydus Lifesciences Limited ZYDUSLIFE ₹1,151 ₹703.32 -39%
Lupin Limited LUPIN ₹2,443 ₹2,477 +1%
Mankind Pharma Limited MANKIND ₹2,484 ₹983.11 -60%
Dr. Reddy's Laboratories Limited DRREDDY ₹1,211 ₹874.79 -28%

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Frequently asked questions

Is Tianjin Pharmaceutical Da Ren Tang Group (600329) overvalued or undervalued?
As of Aug 8, 2026, our model estimates a fair value of ¥34.08 versus a price of ¥37.18, about −8% (fairly valued).
What is the fair value of 600329?
Our model-based fair value for Tianjin Pharmaceutical Da Ren Tang Group is ¥34.08 (as of Aug 8, 2026), built from audited fundamentals. The current price is ¥37.18.
What is the quality score of 600329?
Tianjin Pharmaceutical Da Ren Tang Group has a Quality Score of 75/100. 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 Tianjin Pharmaceutical Da Ren Tang Group (600329)?
Tianjin Pharmaceutical Da Ren Tang Group reported trailing-twelve-month revenue of about 5.0B CNY (latest available figure, as of Aug 8, 2026).
What is the net profit margin of 600329?
The net profit margin of Tianjin Pharmaceutical Da Ren Tang Group is about 43.8%, meaning it keeps roughly 43.8% of revenue as net income. Based on the latest reported figures.
Does Tianjin Pharmaceutical Da Ren Tang Group pay a dividend?
Tianjin Pharmaceutical Da Ren Tang Group currently shows a dividend yield of about 12.51% relative to its recent price (as of Aug 8, 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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