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Yabao Pharmaceutical Group (600351) Fair Value & Analysis

Healthcare · CN · Market cap 4.7B CNY

YP Yabao Pharmaceutical Group 600351 · SHG
Price¥6.82
Fair Value¥9.29
Upside+36.2%
Quality83/100
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Mixed Growth
Solidly profitable · 14.4% net margin
Low debt · generates free cash flow
8.26% dividend yield
Ranks above peers (13/14)
Moderate moat 55/100
Evidence: High Range ¥7.15 – ¥11.44 Share as image

Fair value as of: Aug 8, 2026

From 24 valuation models · updated 2 days ago

Share price +11.3% over the past month.

A strong business, screening 36% undervalued on our models.

What matters now

  • The rarer combination: high quality (83/100) AND below fair value. That earns a closer look rather than a quick verdict.
  • The price is below even our cautious bear case (¥7.15). The market is more pessimistic than our downside scenario.
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Price vs Fair Value (5 years)

¥10.84 ¥4.54 Fair Value ¥9.29 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 ¥4.54 – ¥10.84 · fair‑value band ¥7.15 – ¥11.44 · the ¥6.82 price screens below the ¥9.29 fair value. Dashed = 300-day average. As of Aug 8, 2026.

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Analysis

Yabao Pharmaceutical Group (600351) currently trades at ¥6.82, while our model-based Fair Value estimate is ¥9.29, implying the stock looks roughly 36.2% undervalued today. The Quality Score stands at 83/100 (high 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: high), always confirm before acting.

Over the trailing twelve months, Yabao Pharmaceutical Group generated revenue of 2.2B CNY at a net margin of 14.5%. Revenue declined 6.9% year over year. It earns a return on equity of 10.5%. The balance sheet holds a net cash position of 486M CNY. Fundamentals as of Aug 8, 2026

Our scenario range runs from ¥7.15 (bear case) to ¥11.44 (bull case); at ¥6.82, the current price sits below 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 21% below its 52-week high and 16% above its 52-week low, currently above its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -49% fair-value upside, at 36%, 600351 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 ¥9.39 ¥13.08 ¥18.12 80
Residual Income ¥3.71 ¥4.19 ¥7.12 76
Rev-Margin DCF ¥6.87 ¥9.69 ¥12.95 74
All 24 models by family
DCF Models
FCF DCF ¥9.27 ¥13.44 ¥19.51 38
Owner Earnings ¥7.47 ¥10.71 ¥15.44 31
5Y Revenue Exit ¥6.87 ¥9.61 ¥13.01 39
5Y EBITDA Exit ¥8.27 ¥12.20 ¥16.72 41
5Y P/E Exit ¥8.40 ¥12.45 ¥16.65 38
10Y Revenue Exit ¥7.56 ¥10.23 ¥13.65 36
10Y EBITDA Exit ¥8.56 ¥11.98 ¥16.40 37
10Y P/E Exit ¥8.65 ¥12.15 ¥16.35 35
Earnings-Based
Graham-Dodd ¥3.14 ¥9.55 ¥12.67 54
Lynch FV ¥2.04 ¥2.92 ¥3.79 50
PEG = 1.0 ¥2.04 ¥2.92 ¥3.79 46
EPV ¥4.83 ¥5.42 ¥5.92 59
Multiples
P/E Multiple ¥7.63 ¥10.17 ¥12.72 63
P/S Multiple ¥5.90 ¥7.86 ¥9.83 58
P/B Multiple ¥5.90 ¥7.86 ¥9.83 55
EV/EBIT ¥7.58 ¥9.73 ¥11.87 53
EV/EBITDA ¥8.53 ¥10.99 ¥13.45 54
EV/Revenue ¥5.73 ¥7.70 ¥9.68 43
Asset-Based
NCAV (Graham) ¥2.08 ¥2.79 ¥4.17 50
Growth DCF
Growth DCF ¥9.39 ¥13.08 ¥18.12 80
Rev-Margin DCF ¥6.87 ¥9.69 ¥12.95 74
Economic Profit
Residual Income ¥3.71 ¥4.19 ¥7.12 76
ROIC Compounder ¥4.98 ¥5.94 ¥7.09 72
Growth Earnings
Growth-Adj P/E ¥6.23 ¥8.90 ¥11.56 68

Widest divergence: DCF Models (¥11.98) versus Asset-Based (¥2.79). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 2.2B CNY
Revenue growth (YoY) -6.9%
Net margin 14.5%
Return on equity 10.5%
Free cash flow 525M CNY FY2025
P/E ratio 13.7
More key figures
Operating margin 23.7%
EPS (TTM) ¥0.4600
Dividend yield 8.3%
EPS growth (YoY) +1.2%
Net cash 486M CNY FY2024

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

Quality Score breakdown

Overall quality 83/100

Of which business quality 82 · Market factors (momentum, volatility) 49

Profitability 57
Margins and returns on capital today
Quality Growth 52
Are margins and returns improving?
Cashflow 91
Earnings quality: real cash, not paper profit
Fin. Strength 96
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 86
Calm price path (market factor)
Momentum 31
Price trend over the last 3–12 months (market factor)
52W Momentum 37
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

Yabao Pharmaceutical Group Co., Ltd researches, develops, manufactures, and sells Chinese and Western medicines, and pharmaceutical packaging materials in China and internationally. It provides pediatric products, cardiovascular and cerebrovascular products, endocrine products, women's health products, patches, and general health products.

Full company description

Yabao Pharmaceutical Group Co., Ltd researches, develops, manufactures, and sells Chinese and Western medicines, and pharmaceutical packaging materials in China and internationally. It provides pediatric products, cardiovascular and cerebrovascular products, endocrine products, women's health products, patches, and general health products. Yabao Pharmaceutical Group Co., Ltd was founded in 1978 and is based in Beijing, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Yabao Pharmaceutical Group reported revenue of ¥2.2B in FY2025 versus ¥2.8B in FY2021, a compound −5.1%/yr. Reported net income was ¥320M in FY2025, compounding +14.4%/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)
2.2B CNY
Avg. growth/yr (3Y)
−0.9%
Avg. growth/yr (5Y)
−2.5%
Avg. growth/yr (25Y)
+13.0%
Revenue −5.1%/yr
FY21 ¥2.8B
FY22 ¥2.7B
FY23 ¥2.9B
FY24 ¥2.7B
FY25 ¥2.2B
Net income +14.4%/yr
FY21 ¥187M
FY22 ¥105M
FY23 ¥200M
FY24 ¥243M
FY25 ¥320M

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Cite: Fair Value Calculator (2026). "Yabao Pharmaceutical Group Fair Value". https://www.fairvalue-calculator.com/stock/600351

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 83 · Top 25%
Fair Value upside +36% · Top 25%
Return on equity (TTM) 11% · Above median
Return on assets 6% · Top 25%
Net margin (TTM) 14% · Top 25%
Operating margin (TTM) 17% · Above median
Revenue growth 9% · Above median
Dividend yield (TTM) 8.3% · Top 25%
Debt / equity 0.01× · Lower than median

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

P/E (TTM) 14.5× · Cheaper than median
P/B 1.64× · Cheaper than median
P/S (TTM) 2.10× · Pricier than median
P/FCF 1.3× · Cheaper than median
EV/EBITDA 8.5× · 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 82 · sector 7
FUTURE 46 · sector 20
PAST 44 · sector 23
HEALTH 99 · 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 Yabao Pharmaceutical Group (600351) overvalued or undervalued?
As of Aug 8, 2026, our model estimates a fair value of ¥9.29 versus a price of ¥6.82, about +36% (undervalued).
What is the fair value of 600351?
Our model-based fair value for Yabao Pharmaceutical Group is ¥9.29 (as of Aug 8, 2026), built from audited fundamentals. The current price is ¥6.82.
What is the quality score of 600351?
Yabao Pharmaceutical Group has a Quality Score of 83/100. 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 Yabao Pharmaceutical Group (600351)?
Yabao Pharmaceutical Group reported trailing-twelve-month revenue of about 2.2B CNY (latest available figure, as of Aug 8, 2026).
What is the net profit margin of 600351?
The net profit margin of Yabao Pharmaceutical Group is about 14.5%, meaning it keeps roughly 14.5% of revenue as net income. Based on the latest reported figures.
Does Yabao Pharmaceutical Group pay a dividend?
Yabao Pharmaceutical Group currently shows a dividend yield of about 8.26% 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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