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Beijing Balance Medical Technology Co (688198) Fair Value & Analysis

Healthcare · CN · Market cap 12.1B CNY

BB Beijing Balance Medical Technology Co 688198 · SHG
Price¥81.40
Fair Value¥24.94
Upside-69.4%
Quality66/100
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Expensive Growth
Highly profitable · 30.5% net margin
generates free cash flow
0.91% dividend yield
Mixed vs. peers (6/13)
Wide moat 77/100
Evidence: High Range ¥15.71 – ¥34.06 Share as image

Fair value as of: Jul 12, 2026

From 26 valuation models · updated 29 days ago

Fair value updated Jul 12, 2026, revised from ¥25.14 to ¥24.94 (−0.8%) since Jun 24, 2026. Share price −6.7% over the past month.

A solid business, but screening 69% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥34.06). The favourable scenario is already priced in.
  • Solid but not exceptional quality (66/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (¥15.71 to ¥34.06) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

¥199.65 ¥67.25 Fair Value ¥24.94 Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 12, 2026.

How to read this chart

60‑month range ¥67.25 – ¥199.65 · fair‑value band ¥15.71 – ¥34.06 · the ¥81.40 price screens above the ¥24.94 fair value. Dashed = 300-day average. As of Jul 12, 2026.

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Analysis

Beijing Balance Medical Technology Co (688198) currently trades at ¥81.40, while our model-based Fair Value estimate is ¥24.94, implying the stock looks roughly 69.4% overvalued today. The Quality Score stands at 66/100 (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, Beijing Balance Medical Technology Co generated revenue of 664M CNY at a net margin of 30.5%. Revenue grew 43.4% year over year. It earns a return on equity of 14.6%. Net debt stands at 35.3M CNY. Fundamentals as of Jul 12, 2026

Our scenario range runs from ¥15.71 (bear case) to ¥34.06 (bull case); at ¥81.40, 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 39% below its 52-week high and 5% above its 52-week low, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -22% fair-value upside, at -69%, 688198 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
Residual Income ¥9.54 ¥11.99 ¥26.79 76
Growth DCF ¥7.37 ¥13.46 ¥25.76 72
Gordon GGM ¥7.39 ¥15.36 ¥24.37 70
All 26 models by family
DCF Models
FCF DCF ¥7.81 ¥12.13 ¥25.88 38
Owner Earnings ¥11.63 ¥26.10 ¥56.47 31
5Y Revenue Exit ¥10.00 ¥18.19 ¥35.41 39
5Y EBITDA Exit ¥16.62 ¥31.58 ¥61.00 41
5Y P/E Exit ¥19.86 ¥48.11 ¥87.30 38
10Y Revenue Exit ¥9.12 ¥22.20 ¥31.31 36
10Y EBITDA Exit ¥14.38 ¥36.46 ¥76.50 37
10Y P/E Exit ¥16.75 ¥43.43 ¥88.94 35
Earnings-Based
Graham-Dodd ¥9.56 ¥66.64 ¥93.52 54
Lynch FV ¥26.12 ¥37.31 ¥48.50 50
PEG = 1.0 ¥26.12 ¥37.31 ¥48.50 46
EPV ¥13.09 ¥15.23 ¥17.10 59
Dividend Discount
Gordon GGM ¥7.39 ¥15.36 ¥24.37 70
DDM Multi-Stage ¥7.39 ¥12.95 ¥16.12 61
Multiples
P/E Multiple ¥23.19 ¥30.92 ¥38.64 63
P/S Multiple ¥11.82 ¥15.76 ¥19.70 58
P/B Multiple ¥17.92 ¥23.89 ¥29.86 55
EV/EBIT ¥19.34 ¥25.69 ¥32.04 53
EV/EBITDA ¥19.19 ¥25.49 ¥31.79 54
EV/Revenue ¥9.74 ¥13.79 ¥17.85 43
Asset-Based
NCAV (Graham) ¥4.82 ¥6.45 ¥9.63 50
Growth DCF
Growth DCF ¥7.37 ¥13.46 ¥25.76 72
Rev-Margin DCF ¥10.19 ¥20.74 ¥40.88 67
Economic Profit
Residual Income ¥9.54 ¥11.99 ¥26.79 76
ROIC Compounder ¥16.45 ¥23.47 ¥29.04 67
Growth Earnings
Growth-Adj P/E ¥33.62 ¥48.03 ¥62.44 68

Widest divergence: Growth Earnings (¥48.03) versus Asset-Based (¥6.45). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 664M CNY
Revenue growth (YoY) +43.4%
Net margin 30.5%
Return on equity 14.6%
Free cash flow 61.6M CNY FY2025
P/E ratio 59.7
More key figures
Operating margin 33.8%
EPS (TTM) ¥1.47
Dividend yield 0.9%
EPS growth (YoY) +25.0%
Net debt 35.3M CNY FY2025

Figures from reported company fundamentals · as of Jul 12, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 66/100

Of which business quality 64 · Market factors (momentum, volatility) 32

Profitability 62
Margins and returns on capital today
Quality Growth 77
Are margins and returns improving?
Cashflow 46
Earnings quality: real cash, not paper profit
Fin. Strength 81
Balance sheet, leverage, solvency risk
Investment 37
Disciplined investing over empire-building
Low Volatility 73
Calm price path (market factor)
Momentum 18
Price trend over the last 3–12 months (market factor)
52W Momentum 10
Distance to the 52-week high (market factor)
Net Issuance 78
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

Beijing Balance Medical Technology Co.,Ltd. engages in the research and development, production, sale, and service of animal-derived implantable medical devices in China.

Full company description

Beijing Balance Medical Technology Co.,Ltd. engages in the research and development, production, sale, and service of animal-derived implantable medical devices in China. The company offers artificial biological heart valves, bovine pericardial and porcine aortic valves; pulmonary valved conduit; tissue antigen removal processor, annuloplasty and valvuloplasty rings, and surgical biological patches; bovine pericardial valves, as well as pulmonary artery valved pipeline, outflow tract single flap patches, etc. Its products are used in heart valve replacement and repair, congenital heart disease implant intervention, and surgical soft tissue repair applications; and cardiothoracic surgery, neurosurgery, general surgery, and other surgical departments. Beijing Balance Medical Technology Co.,Ltd. was founded in 2005 and is headquartered in Beijing, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Beijing Balance Medical Technology Co reported revenue of ¥620M in FY2025 versus ¥252M in FY2021, a compound +25.3%/yr. Reported net income was ¥194M in FY2025, compounding +39.4%/yr from FY2021.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
620M CNY
Latest YoY
+23.6%
Avg. growth/yr (3Y)
+28.1%
Avg. growth/yr (5Y)
+27.8%
Avg. growth/yr (9Y)
+25.8%
Revenue +25.3%/yr
FY21 ¥252M
FY22 ¥295M
FY23 ¥371M
FY24 ¥502M
FY25 ¥620M
Net income +39.4%/yr
FY21 ¥51.2M
FY22 ¥95.1M
FY23 ¥115M
FY24 ¥146M
FY25 ¥194M

688198 screens 69% overvalued. Compare with Abbott Laboratories, →

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Cite: Fair Value Calculator (2026). "Beijing Balance Medical Technology Co Fair Value". https://www.fairvalue-calculator.com/stock/688198

Peer Group

Medical Devices · 351 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 66 · Top 25%
Fair Value upside −69% · Bottom 25%
Return on equity (TTM) 15% · Top 25%
Return on assets 8% · Top 25%
Net margin (TTM) 31% · Top 25%
Operating margin (TTM) 34% · Top 25%
Revenue growth 43% · Top 25%
Dividend yield (TTM) 0.9% · Below median

Valuation Multiples vs Medical Devices median · lower = cheaper

P/E (TTM) 59.7× · Pricier than 75% of peers
P/B 9.10× · Pricier than 75% of peers
P/S (TTM) 18.21× · Pricier than 75% of peers
P/FCF 29.1× · Pricier than 75% of peers
EV/EBITDA 49.4× · 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 0
FUTURE 100 · sector 27
PAST 58 · sector 8
HEALTH 0 · sector 97
DIVIDEND 18 · sector 38

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

Insider activity: 40/100

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 Devices stocks, each showing price versus our Fair Value estimate (as of Jul 12, 2026).

Stock Price Fair Value vs Fair Value
Abbott Laboratories, ABT $100.68 $74.79 -26%
Stryker Corporation SYK $316.44 $186.28 -41%
Medtronic plc MDT $83.56 $65.57 -22%
Boston Scientific Corporation BSX $43.04 $38.44 -11%
Edwards Lifesciences Corporation EW $85.73 $41.02 -52%
Siemens Healthineers AG SHL €34.59 €33.87 -2%
Shenzhen Mindray Bio-Medical Electronics Co 300760 ¥149.43 ¥147.63 -1%
Shanghai United Imaging Healthcare Co 688271 ¥109.00 ¥43.60 -60%
Demant A/S DEMANT kr 276.60 kr 161.17 -42%
Getinge AB GETIB kr 206.80 kr 192.14 -7%

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Frequently asked questions

Is Beijing Balance Medical Technology Co (688198) overvalued or undervalued?
As of Jul 12, 2026, our model estimates a fair value of ¥24.94 versus a price of ¥81.40, about −69% (overvalued).
What is the fair value of 688198?
Our model-based fair value for Beijing Balance Medical Technology Co is ¥24.94 (as of Jul 12, 2026), built from audited fundamentals. The current price is ¥81.40.
What is the quality score of 688198?
Beijing Balance Medical Technology Co has a Quality Score of 66/100. 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 Beijing Balance Medical Technology Co (688198)?
Beijing Balance Medical Technology Co reported trailing-twelve-month revenue of about 664M CNY (latest available figure, as of Jul 12, 2026).
What is the net profit margin of 688198?
The net profit margin of Beijing Balance Medical Technology Co is about 30.5%, meaning it keeps roughly 30.5% of revenue as net income. Based on the latest reported figures.
Does Beijing Balance Medical Technology Co pay a dividend?
Beijing Balance Medical Technology Co currently shows a dividend yield of about 0.91% relative to its recent price (as of Jul 12, 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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