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Bio-Thera Solutions Ltd (688177) fair value: what the stock is really worth

As of Nov 10, 2026: fair value (intrinsic value) of Bio-Thera Solutions Ltd stock ¥9.73, price ¥17.53, that is 44.5% below the price, quality 41 out of 100. Rating: strongly overvalued. The value is an estimate: none of our valuation models currently carries, it draws on revenue and assets compared with similar companies. Updated daily.

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Healthcare CN · ISIN CNE100003R98

BT Bio-Thera Solutions Ltd logo Thin data Nov 10, 2026

Bio-Thera Solutions Ltd

688177 · SHG
Very expensive, weak quality

Our calculation puts a fair price 44% below what the stock costs today.

Revenue last quarter +16% vs. a year ago.
Quality 41/100
Mixed Growth (revenue 5y +38.3 %/yr in CNY)
Moderate debt
Fair value ¥9.73 · Strongly overvalued
Loss-making · -42.0% net margin (TTM)
Negative free cash flow
Trails peers (4/11)
Narrow moat 10/100 · thin data
Thin data
Estimate
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26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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Price vs Fair Value

¥44.99 ¥16.10 Fair Value ¥9.73 Jun 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 10, 2026.

How to read this chart

60‑month range ¥16.10 – ¥44.99 · fair‑value band ¥7.30 – ¥12.16 · the ¥17.53 price screens above the ¥9.73 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 10, 2026.

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Company profile

Bio-Thera Solutions, Ltd., a biopharmaceutical company, researches and develops novel therapeutics for the treatment of cancer, autoimmune, cardiovascular, eye diseases, and other severe unmet medical needs in China and internationally.

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It offers QLETLI for the treatment of ankylosing spondylitis, rheumatoid arthritis, psoriasis, Crohn's disease, and uveitis; POBEVCY to treat patients with metastatic colorectal cancer, non-squamous non-small cell lung cancer, recurrent glioblastoma, metastatic renal cell carcinoma, cervical cancer, and epithelial ovarian, fallopian tube, or primary peritoneal cancer; TOFIDENCE for the treatment of rheumatoid arthritis, polyarticular and systemic juvenile idiopathic arthritis, and cytokine release syndrome; and BETAGRIN for the treatment of acute coronary syndromes.

The company also develops BAT2206, a biosimilar drug candidate used to treat psoriasis, Crohn's disease, and ulcerative colitis; BAT2306 to treat plaque psoriasis, psoriatic arthritis, ankylosing spondylitis and non-radiographic axial spondyloarthritis; and BAT4406F, BAT6026, BAT2606, and BAT2506 for treatment of various autoimmune diseases.

In addition, it develops BAT4306F, BAT1308, BAT1006, BAT4706, BAT6026, BAT7104, BAT7104, BAT8006, BAT8010, BAT8008, and BAT8007 for treatment of oncology; BAT2094 and BAT6024 to treat cardiovascular diseases; and BAT5906 that is in Phase III clinical trial for the treatment for wet age-related macular degeneration (wAMD) and diabetic macular edema (DME). The company has a bios imilars alliance with STADA Arzneimittel AG to cover tocilizumab, an immunosuppressant monoclonal antibody indicated for certain inflammatory conditions.

Bio-Thera Solutions, Ltd. was founded in 2003 and is headquartered in Guangzhou, China.

Stock analysis

Bio-Thera Solutions Ltd (688177) currently trades at ¥17.53, while our estimate is ¥9.73, 44% below the price, so the stock looks overvalued today.

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Valuation

None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Scenario range: ¥7.30 (bear) to ¥12.16 (bull), the price of ¥17.53 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 41/100 (below-average quality), in the Healthcare sector.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

Bio-Thera Solutions Ltd reported revenue of 935M CNY in FY2025 versus 837M CNY in FY2021, a compound +2.8%/yr. Reported net income was −332M CNY in FY2025.

Key figures

Market cap 7.3B CNY (≈ $1.1B) Small · P/S ratio 6.68 · EPS (TTM) ¥−1.06 · Dividend yield 0.3% · Net margin −42.0% · Return on equity −167% · Return on assets (EBIT) −14.9% (5-year average) · Operating margin −24.7%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 10 out of 100 (low confidence).

What moves the price

The share trades about 34% below its 52-week high and 9% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Healthcare peers we cover trades at −7% fair-value upside, at −44%, 688177 screens richer than that median.

Fair Value

Bear ¥7.30 Fair Value ¥9.73 Bull ¥12.16
Price ¥17.53 · Downside -44.5%
Estimate. None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Quality Score breakdown

Overall quality 41/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 16
How much profit the company makes from its sales and capital
Quality Growth 97
Are margins and returns getting better?
Cashflow 0
Do the profits arrive as real cash?
Financial strength 21
Debt, balance sheet and risk of trouble
Investment 77
Does it invest with discipline instead of growing at any price?
Low Volatility 68
How calm the share price moves, does not count
Price momentum 23
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 6
Distance to the 52-week high, does not count
New shares 82
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

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. 35/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+25.8%
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.
+27.1%
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.
+38.3%
Start year 2020 (pandemic)
Revenue growth 9 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.
+91.0%
Profit margin (trend) ⓘ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.
−295.5% (2020) → −37.0% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

688177 screens overvalued: fair value 44% below the price. Compare with Vertex Pharmaceuticals Incorporated →

Compare Bio-Thera Solutions Ltd with another stock

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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.Biotechnology · 849 stocks

Beats the industry median on 4/10 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 41 · Above median
Fair Value upside −44.5% · Bottom 25%
Profitability
Return on assets −14.5% · Above median
Net margin (12 months) −42.0% · Below median
Operating margin (12 months) −24.7% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) 15.5% · Above median
Dividend yield (12 months) 0.3% · Bottom 25%
Balance sheet
Debt / equity 1.00× · Highest 25%

Valuation Multiplesvs Biotechnology median · lower = cheaper

P/B 19.30× · Priciest 25%
P/S (12 months) 6.92× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 0
FUTURE (revenue growth)78 · sector 0
PAST (return on equity)0 · sector 0
HEALTH (low debt)50 · sector 96
DIVIDEND (yield)6 · sector 20

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

Context: sector, industry, market

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 Biotechnology stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Regeneron Pharmaceuticals, Inc REGN $916.06 $1,275 +39% vs 688177
Samsung Biologics Co 207940 1,468,000 KRW 1,661,000 KRW +13% vs 688177
Vertex Pharmaceuticals Incorporated VRTX $547.89 $601.80 +10% vs 688177
Genmab A/S GMAB kr 3,581 kr 3,880 +8% vs 688177
argenx SE ARGX $971.55 $908.40 −7% vs 688177
CSL Limited CSL A$201.68 A$181.40 −10% vs 688177
Moderna, Inc MRNA $250.83 $158.70 −37% vs 688177
BeOne Medicines AG 6160 HK$252.20 HK$152.80 −39% vs 688177
Celltrion, Inc 068270 203,000 KRW 74,945 KRW −63% vs 688177
Royalty Pharma plc RPRX $69.45 $19.01 −73% vs 688177

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Bio-Thera Solutions Ltd: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Bio-Thera Solutions Ltd Fair Value". https://www.fairvalue-calculator.com/stock/688177

Frequently asked questions

Is Bio-Thera Solutions Ltd (688177) overvalued or undervalued?
As of Nov 10, 2026, our estimate of fair value is ¥9.73 versus a price of ¥17.53, about 44% lower (overvalued).
What is the fair value of 688177?
Our estimate for Bio-Thera Solutions Ltd is ¥9.73 (as of Nov 10, 2026), built from audited fundamentals. The current price: ¥17.53.
What is the quality score of 688177?
Bio-Thera Solutions Ltd has a Quality Score of 41/100. 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 Bio-Thera Solutions Ltd (688177)?
Our calculated price target is the estimate of ¥9.73 (as of Nov 10, 2026). Cautious scenario ¥7.30, optimistic scenario ¥12.16. It is an estimate from revenue and assets compared with similar companies, because none of our valuation models currently carries, not an analyst target.
What is the Bio-Thera Solutions Ltd stock forecast for 2026?
Our estimate puts fair value at ¥9.73, about 44% lower versus a price of ¥17.53 (overvalued). Cautious scenario ¥7.30, optimistic scenario ¥12.16. The calculation is refreshed regularly with new filings.
What is the revenue of Bio-Thera Solutions Ltd (688177)?
Bio-Thera Solutions Ltd reported trailing-twelve-month revenue of about 1.0B CNY (latest available figure, as of Nov 10, 2026).
Does Bio-Thera Solutions Ltd pay a dividend?
Bio-Thera Solutions Ltd currently shows a dividend yield of 0.29% relative to its recent price (as of Nov 10, 2026).
How much is the dividend of Bio-Thera Solutions Ltd (688177)?
Bio-Thera Solutions Ltd has a dividend yield of 0.3%.
What is the intrinsic value of Bio-Thera Solutions Ltd (688177)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Bio-Thera Solutions Ltd it is ¥9.73 per share (as of Nov 10, 2026), against a price of ¥17.53.
Is Bio-Thera Solutions Ltd stock overvalued or undervalued in 2026?
As of Nov 10, 2026, 688177 trades above its calculated fair value: price ¥17.53, fair value ¥9.73, a gap of about −44% (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 688177?
No. The price is what the market pays today (¥17.53); the fair value is what the company's own numbers justify (¥9.73). For Bio-Thera Solutions Ltd the two are ¥7.80 per share apart. That gap is exactly why we show both numbers side by side.
How much is Bio-Thera Solutions Ltd worth?
The market values Bio-Thera Solutions Ltd at about 7.3B CNY (market capitalisation, as of Nov 10, 2026). Per share that is ¥17.53; our models calculate a fair value of ¥9.73 per share.
What do the bullish and bearish scenarios say about 688177?
Our models span a range for Bio-Thera Solutions Ltd: cautious scenario ¥7.30, base ¥9.73, optimistic ¥12.16 per share (as of Nov 10, 2026, price ¥17.53). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Bio-Thera Solutions Ltd (688177)?
Balance-sheet figures for Bio-Thera Solutions Ltd (as of Nov 10, 2026): return on equity −167.3%, debt of 1.00 per unit of equity. They feed the Quality Score of 41/100, which measures business quality independently of the share price.
How far is 688177 from its 52-week high?
Bio-Thera Solutions Ltd trades at ¥17.53, about 34% below its 52-week high of ¥26.71 and 9% above the low of ¥16.10 (as of Nov 10, 2026). Distance from the high says nothing about value: that is what the fair value of ¥9.73 is for.
Which stocks are comparable to Bio-Thera Solutions Ltd?
From the same area (Healthcare) we also value Vertex Pharmaceuticals Incorporated, Moderna, Inc, Regeneron Pharmaceuticals, Inc, CSL Limited, 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 Bio-Thera Solutions Ltd stock attractive at the current price?
The data as of Nov 10, 2026: price ¥17.53, calculated fair value ¥9.73 (−44%), Quality Score 41/100. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
Is it still worth investing in stocks now?
The global stock market currently sits 15.1% above its aggregate fair value. Bio-Thera Solutions Ltd 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 Bio-Thera Solutions Ltd (688177)?
The closing price on Nov 10, 2026 was ¥17.53. Our estimate is ¥9.73, about 44% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Bio-Thera Solutions Ltd right now?
The price sits above even our optimistic bull case (¥12.16). The favourable scenario is already priced in. Weak quality (41/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.

Key figures of Bio-Thera Solutions Ltd

How large is the market capitalisation of Bio-Thera Solutions Ltd (688177)?
The market capitalisation of Bio-Thera Solutions Ltd is 7.3B CNY (≈ $1.1B). 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 Bio-Thera Solutions Ltd (688177)?
The price-to-sales ratio of Bio-Thera Solutions Ltd is 6.68 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Bio-Thera Solutions Ltd (688177)?
Earnings per share at Bio-Thera Solutions Ltd are ¥−1.06. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Bio-Thera Solutions Ltd (688177)?
The dividend yield of Bio-Thera Solutions Ltd is 0.3%. 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 Bio-Thera Solutions Ltd (688177)?
The net margin of Bio-Thera Solutions Ltd is −42.0% (last twelve months). 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 Bio-Thera Solutions Ltd (688177)?
The return on equity (ROE) of Bio-Thera Solutions Ltd is −167% (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 Bio-Thera Solutions Ltd (688177)?
On an EBIT basis the return on assets of Bio-Thera Solutions Ltd is −14.9% (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 Bio-Thera Solutions Ltd (688177)?
The operating margin of Bio-Thera Solutions Ltd is −24.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Bio-Thera Solutions Ltd (688177)?
Revenue at Bio-Thera Solutions Ltd is growing +15.5% versus a year earlier (3y avg +27.1%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Bio-Thera Solutions Ltd (688177) generate?
The free cash flow of Bio-Thera Solutions Ltd is −204M CNY (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Bio-Thera Solutions Ltd (688177) carry?
The net debt of Bio-Thera Solutions Ltd is 236M CNY (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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