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Shanghai Shyndec Pharmaceutical Co (600420) Fair Value & Analysis

Healthcare · CN · Market cap 11.7B CNY

SS Shanghai Shyndec Pharmaceutical Co 600420 · SHG
Price¥8.70
Fair Value¥9.00
Upside+3.5%
Quality64/100
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Weak Growth
Thin margins · 8.2% net margin
Low debt · generates free cash flow
3.50% dividend yield
Ranks above peers (12/14)
Narrow moat 43/100
Evidence: Medium Range ¥6.75 – ¥11.25 Share as image

Fair value as of: Aug 9, 2026

From 26 valuation models · updated yesterday

Fair value updated Aug 9, 2026, revised from ¥15.49 to ¥9.00 (−41.9%) since Jul 24, 2026.

A solid 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 ¥6.75 (bear) to ¥11.25 (bull), base ¥9.00. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 64/100 (solid quality) with medium evidence: read the verdict with care.
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Price vs Fair Value (5 years)

¥14.17 ¥7.78 Fair Value ¥9.00 Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 9, 2026.

How to read this chart

60‑month range ¥7.78 – ¥14.17 · fair‑value band ¥6.75 – ¥11.25 · the ¥8.70 price screens below the ¥9.00 fair value. Dashed = 300-day average. As of Aug 9, 2026.

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Analysis

Shanghai Shyndec Pharmaceutical Co (600420) currently trades at ¥8.70, while our model-based Fair Value estimate is ¥9.00, implying the stock looks roughly 3.5% fairly valued today. The Quality Score stands at 64/100 (solid 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, Shanghai Shyndec Pharmaceutical Co generated revenue of 8.8B CNY at a net margin of 8.2%. Revenue declined 20.8% year over year. It earns a return on equity of 5.7%. The balance sheet holds a net cash position of 5.1B CNY. Fundamentals as of Aug 9, 2026

Our scenario range runs from ¥6.75 (bear case) to ¥11.25 (bull case); at ¥8.70, 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 26% below its 52-week high and 3% 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 3%, 600420 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 ¥15.96 ¥26.38 ¥44.09 80
Residual Income ¥9.26 ¥9.59 ¥9.75 76
Rev-Margin DCF ¥12.65 ¥19.79 ¥29.06 74
All 26 models by family
DCF Models
FCF DCF ¥16.08 ¥27.46 ¥47.36 38
Owner Earnings ¥15.72 ¥26.81 ¥46.20 31
5Y Revenue Exit ¥12.65 ¥19.91 ¥29.68 39
5Y EBITDA Exit ¥16.64 ¥28.17 ¥42.67 41
5Y P/E Exit ¥13.95 ¥22.60 ¥32.46 38
10Y Revenue Exit ¥13.38 ¥20.69 ¥31.73 36
10Y EBITDA Exit ¥16.34 ¥26.75 ¥42.64 37
10Y P/E Exit ¥14.55 ¥22.66 ¥34.06 35
Earnings-Based
Graham-Dodd ¥4.79 ¥22.50 ¥30.93 54
Lynch FV ¥5.96 ¥8.51 ¥11.07 50
PEG = 1.0 ¥5.96 ¥8.51 ¥11.07 46
EPV ¥8.82 ¥9.92 ¥10.89 59
Dividend Discount
Gordon GGM ¥2.93 ¥6.09 ¥9.66 70
DDM Multi-Stage ¥2.93 ¥5.14 ¥6.39 61
Multiples
P/E Multiple ¥11.62 ¥15.49 ¥19.36 63
P/S Multiple ¥8.98 ¥11.97 ¥14.96 58
P/B Multiple ¥8.98 ¥11.97 ¥14.96 55
EV/EBIT ¥14.71 ¥18.87 ¥23.04 53
EV/EBITDA ¥18.12 ¥23.42 ¥28.72 54
EV/Revenue ¥11.13 ¥14.95 ¥18.78 43
Asset-Based
NCAV (Graham) ¥5.85 ¥7.84 ¥11.71 50
Growth DCF
Growth DCF ¥15.96 ¥26.38 ¥44.09 80
Rev-Margin DCF ¥12.65 ¥19.79 ¥29.06 74
Economic Profit
Residual Income ¥9.26 ¥9.59 ¥9.75 76
ROIC Compounder ¥8.82 ¥9.92 ¥10.89 72
Growth Earnings
Growth-Adj P/E ¥9.68 ¥13.82 ¥17.97 68

Widest divergence: DCF Models (¥22.66) versus Dividend Discount (¥5.14). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 8.8B CNY
Revenue growth (YoY) -20.8%
Net margin 8.2%
Return on equity 5.7%
Free cash flow 1.4B CNY FY2025
P/E ratio 16.1
More key figures
Operating margin 12.1%
EPS (TTM) ¥0.5400
Dividend yield 3.5%
EPS growth (YoY) -61.7%
Net cash 5.1B CNY FY2024

Figures from reported company fundamentals · as of Aug 9, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 64/100

Of which business quality 66 · Market factors (momentum, volatility) 40

Profitability 48
Margins and returns on capital today
Quality Growth 42
Are margins and returns improving?
Cashflow 76
Earnings quality: real cash, not paper profit
Fin. Strength 92
Balance sheet, leverage, solvency risk
Investment 73
Disciplined investing over empire-building
Low Volatility 92
Calm price path (market factor)
Momentum 20
Price trend over the last 3–12 months (market factor)
52W Momentum 17
Distance to the 52-week high (market factor)
Net Issuance 55
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

Shanghai Shyndec Pharmaceutical Co., Ltd. engages in the research and development, production, and sale of pharmaceutical products in China.

Full company description

Shanghai Shyndec Pharmaceutical Co., Ltd. engages in the research and development, production, and sale of pharmaceutical products in China. The company provides nifedipine controlled release tablets, penicillin industrial potassium salt, touboke yuekui granules/capsules, sodium cefuroxime for injection, D-7ACA, fermented products, milnacipran hydrochloride tablets, compound licorice tablets, and cefoperazone dispersible tablets; and cefuroxime axetil tablets, cefuroxime sodium for injection, cefaclor extended-release capsules, cefixime granules, and cefdinir dispersible tablets. It also offers nifedipine controlled-release tablets, amlodipine besylate tablets, enalapril maleate tablet, pravastatin sodium tablets, olmesartan medoxomil hydrochlorothiazide tablets, olmesartan amlodipine tablets; milnaprom hydrochloride tablets, lofen codeine tablets, gastrodin injection, naloxone hydrochloride injection, piracetam injection; and apmis film, tacrolimus capsules, mannan peptide for injection, imatinib mesylate. In addition, the company provides methylprednisolone sodium succinate for injection, octreotide acetate injection, betamethasone sodium phosphate for injection, dexamethasone sodium phosphate injection; diclofenac sodium sustained release tablets; 6-aminopenicillinic acid, azithromycin, amoxicillin, potassium clavulanate microcrystalline cellulose, ceftriaxone sodium crude salt, 7-aminocephalosporanic acid, chorionic gonadotropin, urinary gonadotropin; and naphazoline hydrochloride nasal drops, Ambroxol Hydrochloride Oral Solution. Shanghai Shyndec Pharmaceutical Co., Ltd. was founded in 1996 and is based in Shanghai, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Shanghai Shyndec Pharmaceutical Co reported revenue of ¥9.4B in FY2025 versus ¥13.9B in FY2021, a compound −9.5%/yr. Reported net income was ¥944M in FY2025, compounding +13.5%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
9.4B CNY
Latest YoY
−14.4%
Avg. growth/yr (3Y)
−10.3%
Avg. growth/yr (5Y)
−5.7%
Avg. growth/yr (24Y)
+18.8%
Revenue −9.5%/yr
FY21 ¥13.9B
FY22 ¥13.0B
FY23 ¥12.1B
FY24 ¥10.9B
FY25 ¥9.4B
Net income +13.5%/yr
FY21 ¥568M
FY22 ¥628M
FY23 ¥692M
FY24 ¥1.1B
FY25 ¥944M

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Cite: Fair Value Calculator (2026). "Shanghai Shyndec Pharmaceutical Co Fair Value". https://www.fairvalue-calculator.com/stock/600420

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 64 · Top 25%
Fair Value upside +4% · Above median
Return on equity (TTM) 6% · Below median
Return on assets 3% · Above median
Net margin (TTM) 8% · Above median
Operating margin (TTM) 12% · Above median
Revenue growth -21% · Bottom 25%
Dividend yield (TTM) 3.5% · Top 25%
Debt / equity 0.07× · Lower than median

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

P/E (TTM) 16.1× · Cheaper than median
P/B 0.74× · Cheaper than 75% of peers
P/S (TTM) 1.32× · Cheaper than median
P/FCF 1.2× · Cheaper than median
EV/EBITDA 5.6× · 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.

VALUE 38 · sector 7
FUTURE 0 · sector 20
PAST 23 · sector 23
HEALTH 97 · sector 97
DIVIDEND 70 · 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 9, 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 Shanghai Shyndec Pharmaceutical Co (600420) overvalued or undervalued?
As of Aug 9, 2026, our model estimates a fair value of ¥9.00 versus a price of ¥8.70, about +3% (fairly valued).
What is the fair value of 600420?
Our model-based fair value for Shanghai Shyndec Pharmaceutical Co is ¥9.00 (as of Aug 9, 2026), built from audited fundamentals. The current price is ¥8.70.
What is the quality score of 600420?
Shanghai Shyndec Pharmaceutical Co has a Quality Score of 64/100. 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 Shanghai Shyndec Pharmaceutical Co (600420)?
Shanghai Shyndec Pharmaceutical Co reported trailing-twelve-month revenue of about 8.8B CNY (latest available figure, as of Aug 9, 2026).
What is the net profit margin of 600420?
The net profit margin of Shanghai Shyndec Pharmaceutical Co is about 8.2%, meaning it keeps roughly 8.2% of revenue as net income. Based on the latest reported figures.
Does Shanghai Shyndec Pharmaceutical Co pay a dividend?
Shanghai Shyndec Pharmaceutical Co currently shows a dividend yield of about 3.51% relative to its recent price (as of Aug 9, 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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