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JD Health International Inc (6618) Fair Value & Analysis

Healthcare · HK · Market cap HK$109B

JH JD Health International Inc 6618 · HK
PriceHK$40.08
Fair ValueHK$33.28
Upside-17.0%
Quality72/100
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Healthy Growth
Thin margins · 7.3% net margin
Low debt · generates free cash flow
Ranks above peers (8/13)
Narrow moat 34/100
Evidence: High Range HK$25.37 – HK$41.60 Share as image

Fair value as of: Aug 6, 2026

From 24 valuation models · updated 5 days ago

Fair value updated Aug 6, 2026, revised from HK$33.08 to HK$33.28 (+0.6%) since Jul 2, 2026. Share price +7.5% over the past month.

A solid business, but screening 17% overvalued on our models.

What matters now

  • A high-quality business (quality 72/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
  • Our model range runs from HK$25.37 (bear) to HK$41.60 (bull), base HK$33.28. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 72/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

HK$125.60 HK$19.82 Fair Value HK$33.28 Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 6, 2026.

How to read this chart

60‑month range HK$19.82 – HK$125.60 · fair‑value band HK$25.37 – HK$41.60 · the HK$40.08 price screens above the HK$33.28 fair value. Dashed = 300-day average. As of Aug 6, 2026.

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Analysis

JD Health International Inc (6618) currently trades at HK$40.08, while our model-based Fair Value estimate is HK$33.28, implying the stock looks roughly 17.0% overvalued today. The Quality Score stands at 72/100 (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: high).

Over the trailing twelve months, JD Health International Inc generated revenue of HK$73.4B at a net margin of 7.3%. Revenue grew 28.0% year over year. It earns a return on equity of 9.3%. The balance sheet holds a net cash position of HK$31.2B. Fundamentals as of Aug 6, 2026

Our scenario range runs from HK$25.37 (bear case) to HK$41.60 (bull case); at HK$40.08, 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 last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat. The share trades about 44% below its 52-week high and 26% above its 52-week low, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -17% fair-value upside, at -17%, 6618 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 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. Evidence
Highest evidence
Growth DCF HK$58.37 HK$106.03 HK$184.14 80
Rev-Margin DCF HK$34.15 HK$49.33 HK$79.95 74
ROIC Compounder HK$20.04 HK$24.21 HK$28.40 72
All 24 models by family
DCF Models
FCF DCF HK$61.43 HK$90.94 HK$184.91 38
Owner Earnings HK$37.08 HK$71.65 HK$144.24 31
5Y Revenue Exit HK$32.82 HK$44.29 HK$67.87 39
5Y EBITDA Exit HK$34.19 HK$47.07 HK$72.09 41
5Y P/E Exit HK$45.05 HK$83.19 HK$134.28 38
10Y Revenue Exit HK$41.03 HK$66.03 HK$78.12 36
10Y EBITDA Exit HK$42.52 HK$68.98 HK$110.77 37
10Y P/E Exit HK$50.45 HK$92.36 HK$159.22 35
Earnings-Based
Graham-Dodd HK$11.46 HK$79.91 HK$112.14 54
Lynch FV HK$35.89 HK$51.28 HK$66.66 50
PEG = 1.0 HK$35.89 HK$51.28 HK$66.66 46
EPV HK$19.33 HK$20.89 HK$22.26 59
Multiples
P/E Multiple HK$27.80 HK$37.07 HK$46.34 63
P/S Multiple HK$21.48 HK$28.65 HK$35.81 58
P/B Multiple HK$21.48 HK$28.65 HK$35.81 55
EV/EBIT HK$25.15 HK$30.21 HK$35.27 53
EV/EBITDA HK$23.39 HK$27.87 HK$32.34 54
EV/Revenue HK$20.80 HK$25.45 HK$30.09 43
Asset-Based
NCAV (Graham) HK$9.42 HK$12.62 HK$18.84 50
Growth DCF
Growth DCF HK$58.37 HK$106.03 HK$184.14 80
Rev-Margin DCF HK$34.15 HK$49.33 HK$79.95 74
Economic Profit
Residual Income HK$16.10 HK$17.57 HK$24.31 61
ROIC Compounder HK$20.04 HK$24.21 HK$28.40 72
Growth Earnings
Growth-Adj P/E HK$49.00 HK$70.00 HK$91.00 68

Widest divergence: Growth Earnings (HK$70.00) versus Asset-Based (HK$12.62). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) HK$73.4B
Revenue growth (YoY) +28.0%
Net margin 7.3%
Return on equity 9.3%
Free cash flow HK$9.8B FY2025
P/E ratio 17.6
More key figures
Operating margin 4.4%
EPS (TTM) HK$0.8100
EPS growth (YoY) +29.8%
Net cash HK$31.2B FY2025

Figures from reported company fundamentals · as of Aug 6, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 72/100

Of which business quality 74 · Market factors (momentum, volatility) 22

Profitability 47
Margins and returns on capital today
Quality Growth 80
Are margins and returns improving?
Cashflow 76
Earnings quality: real cash, not paper profit
Fin. Strength 100
Balance sheet, leverage, solvency risk
Investment 66
Disciplined investing over empire-building
Low Volatility 42
Calm price path (market factor)
Momentum 12
Price trend over the last 3–12 months (market factor)
52W Momentum 18
Distance to the 52-week high (market factor)
Net Issuance 73
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

JD Health International Inc., an investment holding company, engages in the operation of an online healthcare platform in the People's Republic of China.

Full company description

JD Health International Inc., an investment holding company, engages in the operation of an online healthcare platform in the People's Republic of China. It provides online medical consultation, hospital or doctor referral, health check-ups, genetic testing, and beauty care services, as well as internet healthcare, health management, intelligent healthcare, advertising, and technical services. The company also offers home care services, including wound care, blood tests and diagnostics, post-operative care, and medical escort; online medical insurance payment services; and smart healthcare and digital health solutions. In addition, it provides online marketing services to advertisers; and online shopping and hospital services. Further, the company offers smart monitoring and respiratory therapy devices; senior-oriented medical devices; home medical device set-up and support services, including blood glucose meters and oxygen generators; and rapid testing products. Additionally, it provides traditional Chinese medicine (TCM) wellness and professional orthopedic services, as well as operates offline examination and polyclinic centers that offers convenient and professional healthcare services. The company offers pharmaceutical and healthcare products through direct sales, and online marketplace and on-demand retail businesses. It serves pharmaceutical and healthcare product companies. JD Health International Inc. was founded in 2014 and is headquartered in Beijing, the People's Republic of China. JD Health International Inc. is a subsidiary of JD Jiankang Limited.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

JD Health International Inc reported revenue of HK$73.4B in FY2025 versus HK$30.7B in FY2021, a compound +24.4%/yr. Reported net income was HK$5.4B in FY2025.

Growth Quality 90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
HK$73.4B
Latest YoY
+26.3%
Avg. 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.
+16.3%
Avg. 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.
+30.5%
Avg. growth/yr (8Y) ⓘ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.
+38.1%
Revenue +24.4%/yr
FY21 HK$30.7B
FY22 HK$46.7B
FY23 HK$53.5B
FY24 HK$58.2B
FY25 HK$73.4B
Net income
FY21 −HK$1.1B
FY22 HK$380M
FY23 HK$2.1B
FY24 HK$4.2B
FY25 HK$5.4B

6618 screens 17% overvalued. Compare with Raia Drogasil S.A →

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JD Health International Inc · Fair Value
HK$33.28 −17%Fair Value
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Cite: Fair Value Calculator (2026). "JD Health International Inc Fair Value". https://www.fairvalue-calculator.com/stock/6618

Peer Group

Pharmaceutical Retailers · 61 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 72 · Top 25%
Fair Value upside −17% · Below median
Return on equity (TTM) 9% · Above median
Return on assets 3% · Above median
Net margin (TTM) 7% · Top 25%
Operating margin (TTM) 4% · Above median
Revenue growth 28% · Top 25%

Valuation Multiples vs Pharmaceutical Retailers median · lower = cheaper

P/E (TTM) 17.6× · Cheaper than median
P/B 1.81× · Pricier than median
P/S (TTM) 1.48× · Pricier than 75% of peers
P/FCF 1.4× · Pricier than median
EV/EBITDA 19.4× · 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 11 · sector 19
FUTURE 100 · sector 19
PAST 37 · sector 19
HEALTH 100 · sector 97
DIVIDEND 0 · sector 63

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 Pharmaceutical Retailers stocks, each showing price versus our Fair Value estimate (as of Aug 6, 2026).

Stock Price Fair Value vs Fair Value
Raia Drogasil S.A RADL3 R$18.20 R$15.58 -14%
Yifeng Pharmacy Chain Co 603939 ¥23.43 ¥29.07 +24%
DaShenLin Pharmaceutical Group 603233 ¥18.23 ¥23.86 +31%
Corporativo Fragua, S.A. FRAGUAB 463.00 MXN 821.18 MXN +77%
LBX Pharmacy Chain Joint Stock Company 603883 ¥12.74 ¥10.57 -17%
MedPlus Health Services Limited MEDPLUS ₹690.20 ₹379.25 -45%
Yixintang Pharmaceutical Group 002727 ¥11.46 ¥9.45 -18%
Anhui Huaren Health Pharmaceutical Co 301408 ¥14.40 ¥10.05 -30%
Apotea AB APOTEA kr 74.75 kr 43.95 -41%
ShuYu Civilian Pharmacy Corp 301017 ¥13.34 ¥5.91 -56%

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Frequently asked questions

Is JD Health International Inc (6618) overvalued or undervalued?
As of Aug 6, 2026, our model estimates a fair value of HK$33.28 versus a price of HK$40.08, about −17% (overvalued).
What is the fair value of 6618?
Our model-based fair value for JD Health International Inc is HK$33.28 (as of Aug 6, 2026), built from audited fundamentals. The current price is HK$40.08.
What is the quality score of 6618?
JD Health International Inc has a Quality Score of 72/100. 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 JD Health International Inc (6618)?
JD Health International Inc reported trailing-twelve-month revenue of about HK$73.4B (latest available figure, as of Aug 6, 2026).
What is the net profit margin of 6618?
The net profit margin of JD Health International Inc is about 7.3%, meaning it keeps roughly 7.3% 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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