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Topchoice Medical Co (600763) Fair Value & Analysis

Healthcare · CN · Market cap 16.4B CNY

TM Topchoice Medical Co 600763 · SHG
Price¥36.62
Fair Value¥24.69
Upside-32.6%
Quality62/100
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Mixed Growth
Solidly profitable · 17.3% net margin
Low debt · generates free cash flow
Mixed vs. peers (6/14)
Wide moat 67/100
Evidence: Medium Range ¥18.52 – ¥30.86 Share as image

Fair value as of: Aug 9, 2026

From 26 valuation models · updated yesterday

Share price +8.2% over the past month.

A solid business, but screening 33% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥30.86). The favourable scenario is already priced in.
  • Solid but not exceptional quality (62/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

¥298.44 ¥33.33 Fair Value ¥24.69 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 ¥33.33 – ¥298.44 · fair‑value band ¥18.52 – ¥30.86 · the ¥36.62 price screens above the ¥24.69 fair value. Dashed = 300-day average. As of Aug 9, 2026.

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Analysis

Topchoice Medical Co (600763) currently trades at ¥36.62, while our model-based Fair Value estimate is ¥24.69, implying the stock looks roughly 32.6% overvalued today. The Quality Score stands at 62/100 (solid 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: medium).

Over the trailing twelve months, Topchoice Medical Co generated revenue of 2.9B CNY at a net margin of 17.3%. Revenue grew 1.4% year over year. It earns a return on equity of 12.7%. Net debt stands at 694M CNY. Fundamentals as of Aug 9, 2026

Our scenario range runs from ¥18.52 (bear case) to ¥30.86 (bull case); at ¥36.62, the current price sits above 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 30% below its 52-week high and 11% above its 52-week low, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at 11% fair-value upside, at -33%, 600763 screens richer 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 ¥21.16 ¥40.84 ¥73.08 80
Residual Income ¥8.75 ¥10.29 ¥20.65 76
Rev-Margin DCF ¥19.82 ¥34.61 ¥65.57 74
All 26 models by family
DCF Models
FCF DCF ¥22.42 ¥34.60 ¥73.40 38
Owner Earnings ¥16.96 ¥37.10 ¥79.37 31
5Y Revenue Exit ¥18.06 ¥30.41 ¥56.26 39
5Y EBITDA Exit ¥23.09 ¥40.58 ¥74.90 41
5Y P/E Exit ¥20.98 ¥45.07 ¥77.83 38
10Y Revenue Exit ¥19.02 ¥40.36 ¥53.93 36
10Y EBITDA Exit ¥23.31 ¥51.19 ¥100.03 37
10Y P/E Exit ¥21.77 ¥46.64 ¥87.39 35
Earnings-Based
Graham-Dodd ¥7.63 ¥53.22 ¥74.68 54
Lynch FV ¥27.49 ¥39.28 ¥51.06 50
PEG = 1.0 ¥27.49 ¥39.28 ¥51.06 46
EPV ¥13.78 ¥15.88 ¥17.72 59
Dividend Discount
Gordon GGM ¥4.29 ¥8.92 ¥14.14 70
DDM Multi-Stage ¥4.29 ¥7.52 ¥9.36 61
Multiples
P/E Multiple ¥18.52 ¥24.69 ¥30.86 63
P/S Multiple ¥14.31 ¥19.08 ¥23.85 58
P/B Multiple ¥14.31 ¥19.08 ¥23.85 55
EV/EBIT ¥21.53 ¥28.31 ¥35.09 53
EV/EBITDA ¥22.49 ¥29.60 ¥36.70 54
EV/Revenue ¥14.86 ¥20.72 ¥26.58 43
Asset-Based
NCAV (Graham) ¥4.73 ¥6.34 ¥9.47 50
Growth DCF
Growth DCF ¥21.16 ¥40.84 ¥73.08 80
Rev-Margin DCF ¥19.82 ¥34.61 ¥65.57 74
Economic Profit
Residual Income ¥8.75 ¥10.29 ¥20.65 76
ROIC Compounder ¥18.15 ¥26.28 ¥32.58 72
Growth Earnings
Growth-Adj P/E ¥36.50 ¥52.14 ¥67.78 68

Widest divergence: Growth Earnings (¥52.14) versus Asset-Based (¥6.34). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 2.9B CNY
Revenue growth (YoY) +1.4%
Net margin 17.3%
Return on equity 12.7%
Free cash flow 565M CNY FY2025
P/E ratio 31.1
More key figures
Operating margin 31.6%
EPS (TTM) ¥1.12
Net debt 694M CNY FY2024

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

Quality Score breakdown

Overall quality 62/100

Of which business quality 62 · Market factors (momentum, volatility) 36

Profitability 48
Margins and returns on capital today
Quality Growth 46
Are margins and returns improving?
Cashflow 77
Earnings quality: real cash, not paper profit
Fin. Strength 85
Balance sheet, leverage, solvency risk
Investment 65
Disciplined investing over empire-building
Low Volatility 83
Calm price path (market factor)
Momentum 16
Price trend over the last 3–12 months (market factor)
52W Momentum 14
Distance to the 52-week high (market factor)
Net Issuance 41
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

Topchoice Medical Co., Inc. offers oral medical services in China. The company is involved in the sale of medical equipment, daily necessities, disinfection products, investment management, import and export business, technology development, technology consulting and technology services, and training services, as well as offers dental medical services.

Full company description

Topchoice Medical Co., Inc. offers oral medical services in China. The company is involved in the sale of medical equipment, daily necessities, disinfection products, investment management, import and export business, technology development, technology consulting and technology services, and training services, as well as offers dental medical services. The company was formerly known as Topchoice Medical Investment Co., Inc. and changed its name to Topchoice Medical Co., Inc. in November 2019. Topchoice Medical Co., Inc. was incorporated in 1995 and is based in Hangzhou, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Topchoice Medical Co reported revenue of ¥2.9B in FY2025 versus ¥2.8B in FY2021, a compound +1.2%/yr. Reported net income was ¥502M in FY2025, compounding −8.1%/yr from FY2021.

Growth Quality 75/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
2.9B CNY
Latest YoY
+1.4%
Avg. growth/yr (3Y)
+2.3%
Avg. growth/yr (5Y)
+6.9%
Avg. growth/yr (32Y)
+16.4%
Revenue +1.2%/yr
FY21 ¥2.8B
FY22 ¥2.7B
FY23 ¥2.8B
FY24 ¥2.9B
FY25 ¥2.9B
Net income −8.1%/yr
FY21 ¥703M
FY22 ¥548M
FY23 ¥500M
FY24 ¥501M
FY25 ¥502M

600763 screens 33% overvalued. Compare with HCA Healthcare, Inc →

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Cite: Fair Value Calculator (2026). "Topchoice Medical Co Fair Value". https://www.fairvalue-calculator.com/stock/600763

Peer Group

Medical Care Facilities · 262 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 62 · Top 25%
Fair Value upside −33% · Below median
Return on equity (TTM) 13% · Above median
Return on assets 7% · Top 25%
Net margin (TTM) 17% · Top 25%
Operating margin (TTM) 32% · Top 25%
Revenue growth 1% · Below median
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.04× · Lower than median

Valuation Multiples vs Medical Care Facilities median · lower = cheaper

P/E (TTM) 32.7× · Pricier than median
P/B 3.87× · Pricier than 75% of peers
P/S (TTM) 5.60× · Pricier than 75% of peers
P/FCF 4.3× · Pricier than median
EV/EBITDA 20.4× · Pricier 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 0 · sector 22
FUTURE 7 · sector 24
PAST 51 · sector 30
HEALTH 98 · sector 90
DIVIDEND 0 · sector 38

VALUE 0: the price sits above our fair-value range.

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 Medical Care Facilities stocks, each showing price versus our Fair Value estimate (as of Aug 9, 2026).

Stock Price Fair Value vs Fair Value
HCA Healthcare, Inc HCA $378.85 $554.93 +46%
Fresenius SE FRE €41.73 €32.15 -23%
Dr. Sulaiman Al Habib Medical Services Group 4013 235.00 SAR 112.37 SAR -52%
IHH Healthcare Berhad, an investment holding company, Q0F 2.58 SGD 1.44 SGD -44%
Tenet Healthcare Corporation THC $194.91 $338.05 +73%
Rede D'Or São Luiz S.A RDOR3 R$36.01 R$47.31 +31%
DaVita Inc DVA $231.61 $255.97 +11%
Apollo Hospitals Enterprise Limited APOLLOHOSP ₹8,955 ₹2,955 -67%
Fresenius Medical Care AG FMS $24.68 $45.60 +85%
Aier Eye Hospital Group 300015 ¥8.68 ¥7.67 -12%

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Frequently asked questions

Is Topchoice Medical Co (600763) overvalued or undervalued?
As of Aug 9, 2026, our model estimates a fair value of ¥24.69 versus a price of ¥36.62, about −33% (overvalued).
What is the fair value of 600763?
Our model-based fair value for Topchoice Medical Co is ¥24.69 (as of Aug 9, 2026), built from audited fundamentals. The current price is ¥36.62.
What is the quality score of 600763?
Topchoice Medical Co 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 revenue of Topchoice Medical Co (600763)?
Topchoice Medical Co reported trailing-twelve-month revenue of about 2.9B CNY (latest available figure, as of Aug 9, 2026).
What is the net profit margin of 600763?
The net profit margin of Topchoice Medical Co is about 17.3%, meaning it keeps roughly 17.3% of revenue as net income. 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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