Joinn Laboratories(China)Co (603127) fair value: what the stock is really worth
As of Oct 8, 2026: fair value of Joinn Laboratories(China)Co ¥24.78, price ¥52.06, upside -52.4%, quality 60 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 27, 2026.
How to read this chart
60‑month range ¥12.46 – ¥87.11 · fair‑value band ¥16.14 – ¥36.10 · the ¥52.06 price screens above the ¥24.78 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 27, 2026.
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Joinn Laboratories(China)Co.,Ltd. provides preclinical and non-clinical services in the United States, the People's Republic of China, and internationally. It operates through three segments: Non-Clinical Studies Services; Clinical Trial and Related Services; and Sales of Research Models.
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Joinn Laboratories(China)Co.,Ltd. provides preclinical and non-clinical services in the United States, the People's Republic of China, and internationally. It operates through three segments: Non-Clinical Studies Services; Clinical Trial and Related Services; and Sales of Research Models. The Non-Clinical Studies Services segment offers drug safety assessment, drug metabolism and pharmacokinetics DMPK studies, and pharmacology and efficacy studies. Its Clinical Trial and Related Services segment provide clinical contract research organization services, co-managed phase I clinical research units, and bioanalytical services. The Sales of Research Models segment engages in the design, production, breeding, and sale of research models, including non-human primates and rodents. The company also offers cell-based assay (CBA) services. In addition, it offers drug quality research and testing services for protein drugs, vaccines, gene and cell therapy products, and provides customized solutions for early-stage drug discovery, screening, and mechanism research. Joinn Laboratories(China)Co.,Ltd. was incorporated in 1995 and is headquartered in Beijing, China.
Stock analysis
Joinn Laboratories(China)Co (603127) currently trades at ¥52.06, while our model-based Fair Value estimate is ¥24.78, 52.4% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of ¥13.89 per share, and 0 of the 23 models we run sit above the ¥52.06 price.
Bear case: the Multiples group reads lowest at ¥8.03, and 23 of the 23 models stay below the price. Evidence for this calculation is medium.
Scenario range: ¥16.14 (bear) to ¥36.10 (bull), the price of ¥52.06 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 60/100 (solid quality), in the Healthcare sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Joinn Laboratories(China)Co reported revenue of 1.7B CNY in FY2025 versus 1.5B CNY in FY2021, a compound +2.2%/yr. Reported net income was 298M CNY in FY2025, compounding −14.5%/yr from FY2021.
Key figures
Market cap 39.0B CNY (≈ $5.8B) · P/E ratio 35.1 · P/S ratio 6.31 · EPS (TTM) ¥1.32 · Dividend yield 0.2% · Net margin 18.0% · Return on equity 11.5% · Return on assets (EBIT) 5.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 46 out of 100 (low confidence).
What moves the price
The share trades about 3% below its 52-week high and 96% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at −4% fair-value upside, at −52%, 603127 screens richer than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely (¥0.5400 to ¥22.41). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear ¥16.14Fair Value ¥24.78Bull ¥36.10
Price ¥52.06 · Upside -52.4%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (¥0.9238 per share) are deliberately not added.Bear ⓘ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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
FCF DCF¥8.83¥13.18¥26.0074
Residual Income¥9.52¥9.20¥9.4174
5Y EBITDA Exit¥4.76¥6.55¥9.7973
All 23 models by family
DCF Models
FCF DCF¥8.83¥13.18¥26.0074
Owner Earnings¥8.50¥17.09¥34.4569
5Y Revenue Exit¥6.83¥10.96¥19.1068
5Y EBITDA Exit¥4.76¥6.55¥9.7973
5Y P/E Exit¥9.04¥17.56¥28.6966
10Y Revenue Exit¥7.23¥12.93¥18.5264
10Y EBITDA Exit¥5.96¥8.94¥13.8865
10Y P/E Exit¥8.95¥17.18¥31.6859
Earnings-Based
Graham-Dodd¥3.21¥22.41¥31.4461
Lynch FV¥7.12¥10.18¥13.2359
PEG = 1.0¥7.12¥10.18¥13.2355
Dividend Discount
Gordon GGM¥0.3100¥0.6200¥0.940064
DDM Multi-Stage¥0.3100¥0.5400¥0.660065
Multiples
P/E Multiple¥7.80¥10.39¥12.9963
P/S Multiple¥6.02¥8.03¥10.0458
P/B Multiple¥6.02¥8.03¥10.0455
EV/EBITDA¥3.14¥3.71¥4.2867
EV/Revenue¥5.79¥7.65¥9.5154
Asset-Based
NCAV (Graham)¥6.60¥8.85¥13.2154
Growth DCF
Growth DCF¥8.42¥14.31¥25.4873
Rev-Margin DCF¥6.83¥11.91¥19.6468
Economic Profit
Residual Income¥9.52¥9.20¥9.4174
Growth Earnings
Growth-Adj P/E¥9.72¥13.89¥18.0565
P/S and P/B multiple show the same value here: both are capped by the same earnings anchor (earnings per share times 17), because margin and return on equity do not support the sector multiple.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−17.9%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−9.9%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+9.0%
Start year 2020 (pandemic). Over 10 years: +23.1% a year
Revenue growth 13 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+24.4%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
−4.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year−4.7%
Dividend (yield on the price)0.2%
Pace: 5 vs 10 years ⓘ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.−4.7% vs 14.1%, slowing
Profit margin 2019 to 2025 ⓘ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.34% → −3%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+46.1%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+16.9%
Yearly sales growth analysts expect, extended to five years.
After inflation (China: IMF forecast 1.7% a year to 2030, 1.4% from 2016 to 2025) that is about +43.7% a year for the price and +15.0% for the forecasts.
Compare Joinn Laboratories(China)Co with another stock
Price, fair value, quality and upside side by side.
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Peer Groupⓘ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.Diagnostics & Research · 127 stocks
Beats the industry median on 3/12 measures
Overall it trails its industry peers.
Valuation
Quality Score60 · Above median
Fair Value upside−52.4% · Below median
Profitability
Return on equity (TTM)11.5% · Above median
Return on assets−0.7% · Below median
Net margin (TTM)58.2% · Top 25%
Operating margin (TTM)−7.0% · Bottom 25%
Growth and dividend
Revenue growth1.7% · Below median
Dividend yield (TTM)0.2% · Bottom 25%
Valuation Multiplesvs Diagnostics & Research median · lower = cheaper
P/E (TTM)35.1× · Pricier than median
P/B4.69× · Priciest 25%
P/S (TTM)23.05× · Priciest 25%
P/FCF129.6× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)9· sector 22
PAST (return on equity)46· sector 13
HEALTH (low debt)100· sector 93
DIVIDEND (yield)5· sector 30
VALUE 0: the price sits above our fair-value range.
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). "Joinn Laboratories(China)Co Fair Value". https://www.fairvalue-calculator.com/stock/603127
Frequently asked questions
Is Joinn Laboratories(China)Co (603127) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of ¥24.78 versus a price of ¥52.06, about −52% upside (overvalued).
What is the fair value of 603127?
Our model-based fair value for Joinn Laboratories(China)Co is ¥24.78 (as of Sep 27, 2026), built from audited fundamentals. The current price: ¥52.06.
What is the quality score of 603127?
Joinn Laboratories(China)Co has a Quality Score of 60/100. 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 Joinn Laboratories(China)Co (603127)?
Our model-based price target is the fair value of ¥24.78 (as of Sep 27, 2026) from 23 valuation models. Cautious scenario ¥16.14, optimistic scenario ¥36.10. It is a calculation from audited fundamentals, not an analyst target.
What is the Joinn Laboratories(China)Co stock forecast for 2026?
Our models put fair value at ¥24.78, about −52% upside versus a price of ¥52.06 (overvalued). Cautious scenario ¥16.14, optimistic scenario ¥36.10. The calculation is refreshed regularly with new filings.
What is the revenue of Joinn Laboratories(China)Co (603127)?
Joinn Laboratories(China)Co reported trailing-twelve-month revenue of about 1.7B CNY (latest available figure, as of Sep 27, 2026).
Does Joinn Laboratories(China)Co pay a dividend?
Joinn Laboratories(China)Co currently shows a dividend yield of about 0.23% relative to its recent price (as of Sep 27, 2026).
What growth is priced into Joinn Laboratories(China)Co (603127)?
For today's price to be fair in a discounted-cash-flow model, Joinn Laboratories(China)Co would have to grow free cash flow by +46.1 % per year for five years (discount rate 10.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +9.0 % per year. As of Sep 27, 2026.
What discount rate (WACC) does the fair value of 603127 use?
Our models discount Joinn Laboratories(China)Co at 10.0 %: a base by market capitalisation (mid), damped by beta 0.83, country premium for China. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Joinn Laboratories(China)Co that is +46.1 % per year a year over ten years, using the same discount rate (10.0 %) and the same formula as our fair value.
How much growth has Joinn Laboratories(China)Co (603127) delivered so far?
Over the past 5 years revenue at Joinn Laboratories(China)Co grew +9.0 % a year. The price currently implies +46.1 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Joinn Laboratories(China)Co (603127) growing?
The median revenue growth in the sector is +5.2 % a year. That is the yardstick for the growth priced into Joinn Laboratories(China)Co (+46.1 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Joinn Laboratories(China)Co (603127)?
The free-cash-flow yield on the price is 0.77 %: that much free cash flow Joinn Laboratories(China)Co produces per unit of market value. When it exceeds the discount rate of our models (10.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Joinn Laboratories(China)Co (603127)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Joinn Laboratories(China)Co it is ¥24.78 per share (as of Sep 27, 2026), against a price of ¥52.06. It is the blended result of 23 valuation models (cash flow, earnings, asset, dividend).
Is Joinn Laboratories(China)Co stock overvalued or undervalued in 2026?
As of Sep 27, 2026, 603127 trades above its calculated fair value: price ¥52.06, fair value ¥24.78, a gap of about −52% (overvalued). 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 603127?
No. The price is what the market pays today (¥52.06); the fair value is what the company's own numbers justify (¥24.78). For Joinn Laboratories(China)Co the two are ¥27.28 per share apart. That gap is exactly why we show both numbers side by side.
How much is Joinn Laboratories(China)Co worth?
The market values Joinn Laboratories(China)Co at about 39.0B CNY (market capitalisation, as of Sep 27, 2026). Per share that is ¥52.06; our models calculate a fair value of ¥24.78 per share.
What do the bullish and bearish scenarios say about 603127?
Our models span a range for Joinn Laboratories(China)Co: cautious scenario ¥16.14, base ¥24.78, optimistic ¥36.10 per share (as of Sep 27, 2026, price ¥52.06). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 603127?
Joinn Laboratories(China)Co trades at a price-to-earnings ratio of 35.1 (as of Sep 27, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ¥24.78 is built from several models across several years. Other multiples: P/B 4.7, P/S 23.0.
How solid is the balance sheet of Joinn Laboratories(China)Co (603127)?
Balance-sheet figures for Joinn Laboratories(China)Co (as of Sep 27, 2026): return on equity 11.5%. They feed the Quality Score of 60/100, which measures business quality independently of the share price.
How far is 603127 from its 52-week high?
Joinn Laboratories(China)Co trades at ¥52.06, about 3% below its 52-week high of ¥53.90 and 96% above the low of ¥26.50 (as of Oct 8, 2026). Distance from the high says nothing about value: that is what the fair value of ¥24.78 is for.
Which stocks are comparable to Joinn Laboratories(China)Co?
From the same area (Healthcare) we also value Thermo Fisher Scientific Inc, Danaher Corporation, WuXi AppTec Co, Agilent Technologies, 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 Joinn Laboratories(China)Co stock attractive at the current price?
The data as of Sep 27, 2026: price ¥52.06, calculated fair value ¥24.78 (−52%), Quality Score 60/100, from 23 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 603127 calculated?
We run Joinn Laboratories(China)Co through 23 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 ¥24.78, 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 14.5 % above its aggregate fair value. Joinn Laboratories(China)Co itself currently trades above fair value. 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 is it worth investing now.
What is the share price of Joinn Laboratories(China)Co (603127)?
The closing price on Oct 8, 2026 was ¥52.06. Our model-based fair value is ¥24.78, about −52% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Joinn Laboratories(China)Co right now?
The price sits above even our optimistic bull case (¥36.10). The favourable scenario is already priced in. Solid but not exceptional quality (60/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (¥16.14 to ¥36.10) leaves room in how you read the outcome.
Where does the earnings growth of Joinn Laboratories(China)Co (603127) come from?
Earnings per share at Joinn Laboratories(China)Co grew +25.9 % a year from 2013 to 2024. Broken into its drivers: revenue per share +25.5 %, EBIT margin +3.2 %, tax rate +0.1 %, residual (interest, one-offs) −2.9 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Joinn Laboratories(China)Co
How large is the market capitalisation of Joinn Laboratories(China)Co (603127)?
The market capitalisation of Joinn Laboratories(China)Co is 39.0B CNY (≈ $5.8B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Joinn Laboratories(China)Co (603127)?
The price-to-sales ratio of Joinn Laboratories(China)Co is 6.31 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Joinn Laboratories(China)Co (603127)?
Earnings per share at Joinn Laboratories(China)Co are ¥1.32 (price ÷ EPS = P/E 35.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Joinn Laboratories(China)Co (603127)?
The dividend yield of Joinn Laboratories(China)Co is 0.2% (payout 9.1%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Joinn Laboratories(China)Co (603127)?
The net margin of Joinn Laboratories(China)Co is 18.0% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Joinn Laboratories(China)Co (603127)?
The return on equity (ROE) of Joinn Laboratories(China)Co is 11.5% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Joinn Laboratories(China)Co (603127)?
On an EBIT basis the return on assets of Joinn Laboratories(China)Co is 5.1% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Joinn Laboratories(China)Co (603127)?
The operating margin of Joinn Laboratories(China)Co is −7.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Joinn Laboratories(China)Co (603127)?
Revenue at Joinn Laboratories(China)Co is growing +1.7% versus a year earlier (3y avg −9.9%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Joinn Laboratories(China)Co (603127)?
Earnings per share at Joinn Laboratories(China)Co are growing +23.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Joinn Laboratories(China)Co (603127) hold?
Joinn Laboratories(China)Co holds more cash than debt, 904M CNY net (fiscal year 2024). The company holds more cash than debt, a safety cushion.
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