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Mayinglong Pharmaceutical Group (600993) Fair Value & Analysis

Healthcare · CN · Market cap 10.1B CNY

MP Mayinglong Pharmaceutical Group 600993 · SHG
Price¥23.46
Fair Value¥29.68
Upside+26.5%
Quality74/100
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Healthy Growth
Solidly profitable · 15.1% net margin
Low debt · generates free cash flow
2.99% dividend yield
Ranks above peers (11/14)
Moderate moat 63/100
Evidence: High Range ¥20.04 – ¥37.10 Share as image

Fair value as of: Aug 9, 2026

From 26 valuation models · updated yesterday

Share price +0.8% over the past month.

A solid business, screening 27% undervalued on our models.

What matters now

  • The rarer combination: high quality (74/100) AND below fair value. That earns a closer look rather than a quick verdict.
  • A fairly wide model range (¥20.04 to ¥37.10) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

¥31.68 ¥17.11 Fair Value ¥29.68 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 ¥17.11 – ¥31.68 · fair‑value band ¥20.04 – ¥37.10 · the ¥23.46 price screens below the ¥29.68 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 9, 2026.

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Analysis

Mayinglong Pharmaceutical Group (600993) currently trades at ¥23.46, while our model-based Fair Value estimate is ¥29.68, implying the stock looks roughly 26.5% undervalued today. The Quality Score stands at 74/100 (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: high), always confirm before acting.

Over the trailing twelve months, Mayinglong Pharmaceutical Group generated revenue of 3.9B CNY at a net margin of 15.1%. Revenue grew 4.5% year over year. It earns a return on equity of 13.5%. The balance sheet holds a net cash position of 2.9B CNY. Fundamentals as of Aug 9, 2026

Our scenario range runs from ¥20.04 (bear case) to ¥37.10 (bull case); at ¥23.46, 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 22% 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 -49% fair-value upside, at 27%, 600993 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 ¥18.45 ¥27.97 ¥43.63 80
Residual Income ¥9.74 ¥11.90 ¥25.11 76
Rev-Margin DCF ¥18.43 ¥28.27 ¥40.55 74
All 26 models by family
DCF Models
FCF DCF ¥18.45 ¥28.52 ¥45.36 38
Owner Earnings ¥20.61 ¥32.27 ¥51.75 31
5Y Revenue Exit ¥18.43 ¥28.47 ¥41.88 39
5Y EBITDA Exit ¥20.55 ¥32.72 ¥47.67 41
5Y P/E Exit ¥22.78 ¥37.18 ¥53.30 38
10Y Revenue Exit ¥17.85 ¥27.29 ¥41.25 36
10Y EBITDA Exit ¥19.70 ¥30.34 ¥45.96 37
10Y P/E Exit ¥21.16 ¥33.56 ¥50.54 35
Earnings-Based
Graham-Dodd ¥9.17 ¥38.23 ¥52.12 54
Lynch FV ¥9.67 ¥13.81 ¥17.96 50
PEG = 1.0 ¥9.67 ¥13.81 ¥17.96 46
EPV ¥16.99 ¥19.06 ¥20.86 59
Dividend Discount
Gordon GGM ¥5.74 ¥11.94 ¥18.95 70
DDM Multi-Stage ¥5.74 ¥10.07 ¥12.53 61
Multiples
P/E Multiple ¥22.26 ¥29.68 ¥37.10 63
P/S Multiple ¥17.20 ¥22.93 ¥28.67 58
P/B Multiple ¥17.20 ¥22.93 ¥28.67 55
EV/EBIT ¥24.42 ¥31.02 ¥37.63 53
EV/EBITDA ¥23.22 ¥29.43 ¥35.63 54
EV/Revenue ¥18.75 ¥24.81 ¥30.87 43
Asset-Based
NCAV (Graham) ¥5.08 ¥6.81 ¥10.16 50
Growth DCF
Growth DCF ¥18.45 ¥27.97 ¥43.63 80
Rev-Margin DCF ¥18.43 ¥28.27 ¥40.55 74
Economic Profit
Residual Income ¥9.74 ¥11.90 ¥25.11 76
ROIC Compounder ¥18.46 ¥22.85 ¥28.35 72
Growth Earnings
Growth-Adj P/E ¥16.97 ¥24.25 ¥31.52 68

Widest divergence: DCF Models (¥30.34) versus Asset-Based (¥6.81). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 3.9B CNY
Revenue growth (YoY) +4.5%
Net margin 15.1%
Return on equity 13.5%
Free cash flow 481M CNY FY2025
P/E ratio 17.1
More key figures
Operating margin 24.2%
EPS (TTM) ¥1.37
Dividend yield 3.0%
EPS growth (YoY) +4.3%
Net cash 2.9B CNY FY2024

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

Quality Score breakdown

Overall quality 74/100

Of which business quality 72 · Market factors (momentum, volatility) 43

Profitability 59
Margins and returns on capital today
Quality Growth 57
Are margins and returns improving?
Cashflow 57
Earnings quality: real cash, not paper profit
Fin. Strength 100
Balance sheet, leverage, solvency risk
Investment 81
Disciplined investing over empire-building
Low Volatility 91
Calm price path (market factor)
Momentum 25
Price trend over the last 3–12 months (market factor)
52W Momentum 20
Distance to the 52-week high (market factor)
Net Issuance 80
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

Mayinglong Pharmaceutical Group Co., Ltd., together with its subsidiaries, manufactures and sells Chinese and Western medicines in China and internationally. The company offers functional cosmetics, functional care products and food, Chinese herbal medicines, and medical devices.

Full company description

Mayinglong Pharmaceutical Group Co., Ltd., together with its subsidiaries, manufactures and sells Chinese and Western medicines in China and internationally. The company offers functional cosmetics, functional care products and food, Chinese herbal medicines, and medical devices. It also manufactures, processes, and sells medicinal packaging materials, cosmetics, and Chinese medicines; and offers first and second category medical devices, household products, electronic products, daily necessities, hygiene products, and disinfection products, as well as automobile freight services. In addition, the company is involved in the retail and wholesale of medical devices and medicines; provision of hospital and medical management service; and hospital operations. Further, it imports raw and auxiliary materials, machinery and equipment, instruments and meters, spare parts and related technologies; and exports its products. Mayinglong Pharmaceutical Group Co., Ltd. was founded in 1582 and is headquartered in Wuhan, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Mayinglong Pharmaceutical Group reported revenue of ¥3.9B in FY2025 versus ¥3.4B in FY2021, a compound +3.4%/yr. Reported net income was ¥581M in FY2025, compounding +5.8%/yr from FY2021.

Growth Quality 83/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
3.9B CNY
Latest YoY
+3.7%
Avg. growth/yr (3Y)
+3.1%
Avg. growth/yr (5Y)
+6.7%
Avg. growth/yr (24Y)
+13.0%
Revenue +3.4%/yr
FY21 ¥3.4B
FY22 ¥3.5B
FY23 ¥3.1B
FY24 ¥3.7B
FY25 ¥3.9B
Net income +5.8%/yr
FY21 ¥465M
FY22 ¥479M
FY23 ¥443M
FY24 ¥528M
FY25 ¥581M

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Cite: Fair Value Calculator (2026). "Mayinglong Pharmaceutical Group Fair Value". https://www.fairvalue-calculator.com/stock/600993

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 74 · Top 25%
Fair Value upside +27% · Top 25%
Return on equity (TTM) 13% · Top 25%
Return on assets 7% · Top 25%
Net margin (TTM) 15% · Top 25%
Operating margin (TTM) 24% · Top 25%
Revenue growth 5% · Above median
Dividend yield (TTM) 3.0% · Above median
Debt / equity 0.02× · Lower than median

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

P/E (TTM) 17.1× · Cheaper than median
P/B 2.31× · Pricier than median
P/S (TTM) 2.59× · Pricier than median
P/FCF 3.1× · Pricier than median
EV/EBITDA 11.3× · 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 69 · sector 7
FUTURE 23 · sector 20
PAST 54 · sector 23
HEALTH 99 · sector 97
DIVIDEND 60 · 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 Mayinglong Pharmaceutical Group (600993) overvalued or undervalued?
As of Aug 9, 2026, our model estimates a fair value of ¥29.68 versus a price of ¥23.46, about +27% (undervalued).
What is the fair value of 600993?
Our model-based fair value for Mayinglong Pharmaceutical Group is ¥29.68 (as of Aug 9, 2026), built from audited fundamentals. The current price is ¥23.46.
What is the quality score of 600993?
Mayinglong Pharmaceutical Group has a Quality Score of 74/100. 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 Mayinglong Pharmaceutical Group (600993)?
Mayinglong Pharmaceutical Group reported trailing-twelve-month revenue of about 3.9B CNY (latest available figure, as of Aug 9, 2026).
What is the net profit margin of 600993?
The net profit margin of Mayinglong Pharmaceutical Group is about 15.1%, meaning it keeps roughly 15.1% of revenue as net income. Based on the latest reported figures.
Does Mayinglong Pharmaceutical Group pay a dividend?
Mayinglong Pharmaceutical Group currently shows a dividend yield of about 2.94% 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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