China National Medicines Corp Ltd (600511) fair value: what the stock is really worth
We calculate from audited financials what China National Medicines Corp Ltd is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily, free.
Compare price with fair valuebelow fair value = cheap, above = expensive
Check the quality50 and up solid, 75 and up strong
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A solid business, trading 54% below our fair value of ¥58.22.
As of Aug 21, 2026, the fair value of China National Medicines Corp Ltd is ¥58.22 per share against a price of ¥26.75, so the fair value sits 118% above the price. A model estimate from reported figures, not an analyst target.
✓Healthy Growth (revenue 5y +5.4 %/yr)
!Thin margins · 3.8% net margin
✓Low debt · generates free cash flow
·2.99% dividend yield
✓Ranks above peers (13/14)
!Narrow moat 34/100
Evidence: HighRange ¥43.66 to ¥72.07
Fair value as of: Aug 21, 2026
From 26 valuation models · updated 21 days ago
Share price −2.7% over the past month.
This is the short version. In the app for China National Medicines Corp Ltd:
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69 individual criteria per stock, every one traceable See the method →
What matters now
The price is below even our cautious bear case (¥43.66). The market is more pessimistic than our downside scenario.
Solid quality (62/100) at a price below fair value, the discount is the argument here, not the business quality.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 21, 2026.
How to read this chart
60‑month range ¥23.93 – ¥42.59 · fair‑value band ¥43.66 – ¥72.07 · the ¥26.75 price screens below the ¥58.22 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 21, 2026.
China National Medicines Corp Ltd (600511) currently trades at ¥26.75, while our model-based Fair Value estimate is ¥58.22, implying the stock looks roughly 54.1% undervalued today. The Quality Score stands at 62/100 (solid quality), in the Healthcare sector. Bull case: the DCF Models group reads highest at a median of ¥79.76 per share, and 22 of the 26 models we run sit above the ¥26.75 price. Bear case: the Dividend Discount group reads lowest at ¥13.35, and 4 of the 26 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, China National Medicines Corp Ltd generated revenue of 53.3B CNY at a net margin of 3.8%. Revenue grew 6.6% year over year. It earns a return on equity of 10.4%. The balance sheet holds a net cash position of 4.3B CNY. Fundamentals as of Aug 21, 2026
Scenario range: ¥43.66 (bear) to ¥72.07 (bull), the price of ¥26.75 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target. The share trades about 14% below its 52-week high and 2% above its 52-week low, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at −10% fair-value upside, at 118%, 600511 screens cheaper than that median.
Fair Value models
Based on fiscal year 2025 figures (about 8 months old). Earnings retained since then (¥1.30 per share) are deliberately not added.
Each model values the company its own way; the fair value above is the evidence-weighted blend. Evidence (0 to 100) shows how complete a model's inputs are. How we calculate →
ModelBear ⓘ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
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Key figures & financial health
P/E ratio10.0
P/S ratio0.38P/E × margin
EPS (TTM)¥2.67price ÷ EPS = P/E 10.0
Dividend yield3.0%payout 30.0%
Net margin3.8%FY2025
Return on equity10.4%TTM
More key figures
Profitability
Return on assets (EBIT)8.4%avg 5y
Operating margin3.5%TTM
Growth
Revenue (TTM)53.3B CNYTTM
Revenue growth (YoY)+6.6%3y avg +4.9%
EPS growth (YoY)+3.3%
Balance sheet & cash flow
Free cash flow1.9B CNYFY2025
Net cash4.3B CNYFY2025
Figures from reported company fundamentals · as of Aug 21, 2026. TTM = trailing twelve months.
Quality Score breakdown
Overall quality62/100
Of which business quality 63
· Market factors (momentum, volatility) 50
Profitability46
Margins and returns on capital today
Quality Growth45
Are margins and returns improving?
Cashflow47
Earnings quality: real cash, not paper profit
Fin. Strength91
Balance sheet, leverage, solvency risk
Investment72
Disciplined investing over empire-building
Low Volatility100
Calm price path (market factor)
Momentum32
Price trend over the last 3–12 months (market factor)
52W Momentum24
Distance to the 52-week high (market factor)
Net Issuance82
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.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
China National Medicines Corporation Ltd., together with its subsidiaries, engages in pharmaceutical equipment circulation in China.
Full company description
China National Medicines Corporation Ltd., together with its subsidiaries, engages in pharmaceutical equipment circulation in China. The company also manufactures and sells new drugs; sells Chinese patent medicines drug sales and western medicines, and medical equipment; and offers dental drug and equipment, warehousing, logistics and import and export agency services. It also serves hospitals, retail pharmacies, and medical institutions. The company was founded in 1999 and is based in Beijing, China. China National Medicines Corporation Ltd. operates as a subsidiary of Sinopharm Group Co. Ltd.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
China National Medicines Corp Ltd reported revenue of 52.5B CNY in FY2025 versus 46.5B CNY in FY2021, a compound +3.1%/yr. Reported net income was 2.0B CNY in FY2025, compounding +3.3%/yr from FY2021.
Growth Quality 65/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
52.5B CNY
Latest YoY
+3.7%
Avg. revenue 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.
+4.9%
Avg. revenue 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.
+5.4%
Avg. revenue growth/yr (26Y) ⓘ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.
+17.5%
Value creation/yr (5Y) ⓘEarnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+7.7%
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share+4.7%
Dividend yield3.0%
Trend ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.5Y 4.7% vs 10Y 9.5%, flattening
Operating margin (EBIT) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.5.5% (2019) → 5.0% (2025) · steady
Revenue+3.1%/yr
FY2146.5B CNY
FY2245.5B CNY
FY2349.7B CNY
FY2450.6B CNY
FY2552.5B CNY
Net income+3.3%/yr
FY211.8B CNY
FY222.0B CNY
FY232.1B CNY
FY242.0B CNY
FY252.0B CNY
Character of growth · EPS growth decomposed (2014-2025)+9.5 % p.a.
Revenue per share+7.5 %
of which total revenue +11.3 % · buybacks/dilution −3.4 %
EBIT margin+1.4 %
Tax rate+0.4 %
Residual (interest, one-offs)+0.0 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "China National Medicines Corp Ltd Fair Value". https://www.fairvalue-calculator.com/stock/600511
Peer Group
Medical Distribution · 78 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.
Valuation
Quality Score62 · Top 25%
Fair Value upside+115% · Top 25%
Profitability
Return on equity (TTM)10% · Top 25%
Return on assets4% · Above median
Net margin (TTM)4% · Above median
Operating margin (TTM)4% · Above median
Growth and dividend
Revenue growth7% · Above median
Dividend yield (TTM)3.0% · Above median
Balance sheet
Debt / equity0.00× · Below median
Valuation Multiples vs Medical Distribution median · lower = cheaper
P/E (TTM)10.0× · Cheapest 25%
P/B1.12× · Pricier than median
P/S (TTM)0.39× · Pricier than median
P/FCF1.6× · Cheaper than median
EV/EBITDA5.6× · Cheaper than median
What the price implies (reverse DCF)
The inverse question: what free-cash-flow growth must China National Medicines Corp Ltd deliver for ten years so that today's price is fair in our DCF model? Same formula, same discount rate as the fair value.
Implied FCF growth, 10 years-14.3 % per year
Achieved revenue growth, 5 years+5.4 % p.a.
Sector median revenue growth+4.4 %
FCF yield on price9.60 %
Discount rate (WACC) in the models9.1 %
The price demands less growth than the company recently delivered: even a weaker business would justify the price. Ranking of the largest stocks →
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.
This stockSector peers
VALUE100· sector 35
FUTURE33· sector 13
PAST42· sector 22
HEALTH100· sector 97
DIVIDEND60· sector 58
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
Similar stocks
10 more Medical Distribution stocks, each showing price versus our Fair Value estimate (as of Aug 21, 2026).
Is China National Medicines Corp Ltd (600511) overvalued or undervalued?
As of Aug 21, 2026, our model estimates a fair value of ¥58.22 versus a price of ¥26.75, about +118% upside (undervalued).
What is the fair value of 600511?
Our model-based fair value for China National Medicines Corp Ltd is ¥58.22 (as of Aug 21, 2026), built from audited fundamentals. The current price: ¥26.75.
What is the quality score of 600511?
China National Medicines Corp Ltd has a Quality Score of 62/100. 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 price target for China National Medicines Corp Ltd (600511)?
Our model-based price target is the fair value of ¥58.22 (as of Aug 21, 2026) from 26 valuation models. Cautious scenario ¥43.66, optimistic scenario ¥72.07. It is a calculation from audited fundamentals, not an analyst target.
What is the China National Medicines Corp Ltd stock forecast for 2026?
Our models put fair value at ¥58.22, about +118% upside versus a price of ¥26.75 (undervalued). Cautious scenario ¥43.66, optimistic scenario ¥72.07. The calculation is refreshed regularly with new filings.
What is the revenue of China National Medicines Corp Ltd (600511)?
China National Medicines Corp Ltd reported trailing-twelve-month revenue of about 53.3B CNY (latest available figure, as of Aug 21, 2026).
What is the net profit margin of 600511?
The net profit margin of China National Medicines Corp Ltd is about 3.8%, meaning it keeps roughly 3.8% of revenue as net income. Based on the latest reported figures.
Does China National Medicines Corp Ltd pay a dividend?
China National Medicines Corp Ltd currently shows a dividend yield of about 2.99% relative to its recent price (as of Aug 21, 2026).
What growth is priced into China National Medicines Corp Ltd (600511)?
For today's price to be fair in a discounted-cash-flow model, China National Medicines Corp Ltd would have to grow free cash flow by -14.3 % per year for ten years (discount rate 9.1 %, then 2 % perpetual growth). Over the last 5 years revenue grew +5.4 % per year. As of Aug 21, 2026.
What discount rate (WACC) does the fair value of 600511 use?
Our models discount China National Medicines Corp Ltd at 9.1 %: a base by market capitalisation (mid), damped by beta 0.14, country premium for China. The same rate applies in all 26 models.
What is the intrinsic value of China National Medicines Corp Ltd (600511)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For China National Medicines Corp Ltd it is ¥58.22 per share (as of Aug 21, 2026), against a price of ¥26.75. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is China National Medicines Corp Ltd stock overvalued or undervalued in 2026?
As of Aug 21, 2026, 600511 trades below its calculated fair value: price ¥26.75, fair value ¥58.22, a gap of about +118% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 600511?
No. The price is what the market pays today (¥26.75); the fair value is what the company's own numbers justify (¥58.22). For China National Medicines Corp Ltd the two are ¥31.47 per share apart. That gap is exactly why we show both numbers side by side.
How much is China National Medicines Corp Ltd worth?
The market values China National Medicines Corp Ltd at about 20.2B CNY (market capitalisation, as of Aug 21, 2026). Per share that is ¥26.75; our models calculate a fair value of ¥58.22 per share.
What do the bullish and bearish scenarios say about 600511?
Our models span a range for China National Medicines Corp Ltd: cautious scenario ¥43.66, base ¥58.22, optimistic ¥72.07 per share (as of Aug 21, 2026, price ¥26.75). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 600511?
China National Medicines Corp Ltd trades at a price-to-earnings ratio of 10.0 (as of Aug 21, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ¥58.22 is built from several models across several years. Other multiples: P/B 1.1, P/S 0.4, EV/EBITDA 5.6.
How solid is the balance sheet of China National Medicines Corp Ltd (600511)?
Balance-sheet figures for China National Medicines Corp Ltd (as of Aug 21, 2026): return on equity 10.4%, debt of 0.00 per unit of equity. They feed the Quality Score of 62/100, which measures business quality independently of the share price.
How far is 600511 from its 52-week high?
China National Medicines Corp Ltd trades at ¥26.75, about 14% below its 52-week high of ¥31.18 and 2% above the low of ¥26.18 (as of Aug 21, 2026). Distance from the high says nothing about value: that is what the fair value of ¥58.22 is for.
Which stocks are comparable to China National Medicines Corp Ltd?
From the same area (Healthcare) we also value McKesson Corporation, Cencora, Inc, Cardinal Health, Inc, Henry Schein, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is China National Medicines Corp Ltd stock attractive at the current price?
The data as of Aug 21, 2026: price ¥26.75, calculated fair value ¥58.22 (+118%), Quality Score 62/100, from 26 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 600511 calculated?
We run China National Medicines Corp Ltd through 26 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ¥58.22, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 32.6 % above its aggregate fair value. China National Medicines Corp Ltd currently trades 118 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on <a href="/is-it-worth-investing-now/">is it worth investing now</a>.
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