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Shanghai United Imaging Healthcare Co (688271) Fair Value & Analysis

Healthcare · CN · Market cap 92.3B CNY

SU Shanghai United Imaging Healthcare Co 688271 · SHG
Price¥111.00
Fair Value¥43.60
Upside-60.7%
Quality55/100
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Mixed Growth
Solidly profitable · 13.3% net margin
Low debt · generates free cash flow
0.28% dividend yield
Mixed vs. peers (7/14)
Moderate moat 52/100
Evidence: High Range ¥31.12 – ¥54.53 Share as image

Fair value as of: Jul 15, 2026

From 26 valuation models · updated 23 days ago

Share price +6.9% over the past month.

A solid business, but screening 61% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥54.53). The favourable scenario is already priced in.
  • Solid but not exceptional quality (55/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (4 years)

¥213.55 ¥92.59 Fair Value ¥43.60 Aug 2022 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 15, 2026.

How to read this chart

47‑month range ¥92.59 – ¥213.55 · fair‑value band ¥31.12 – ¥54.53 · the ¥111.00 price screens above the ¥43.60 fair value. Dashed = 300-day average. As of Jul 15, 2026.

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Analysis

Shanghai United Imaging Healthcare Co (688271) currently trades at ¥111.00, while our model-based Fair Value estimate is ¥43.60, implying the stock looks roughly 60.7% overvalued today. We read business quality at 55/100 (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, Shanghai United Imaging Healthcare Co generated revenue of 14.2B CNY at a net margin of 13.3%. Revenue grew 17.3% year over year. It earns a return on equity of 8.9%. Net debt stands at 109M CNY. Fundamentals as of Jul 15, 2026

Our scenario range runs from ¥31.12 (bear case) to ¥54.53 (bull case); at ¥111.00, 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 32% 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 -22% fair-value upside, at -61%, 688271 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
Growth DCF ¥17.08 ¥27.22 ¥46.78 80
Residual Income ¥22.11 ¥23.99 ¥32.21 76
Rev-Margin DCF ¥27.28 ¥51.39 ¥87.88 74
All 26 models by family
DCF Models
FCF DCF ¥17.64 ¥25.11 ¥46.96 38
Owner Earnings ¥12.65 ¥20.76 ¥37.78 31
5Y Revenue Exit ¥27.28 ¥48.45 ¥90.50 39
5Y EBITDA Exit ¥31.97 ¥58.53 ¥107.79 41
5Y P/E Exit ¥33.64 ¥68.40 ¥114.08 38
10Y Revenue Exit ¥23.47 ¥48.30 ¥78.01 36
10Y EBITDA Exit ¥27.76 ¥57.31 ¥113.74 37
10Y P/E Exit ¥28.93 ¥60.51 ¥117.05 35
Earnings-Based
Graham-Dodd ¥15.42 ¥107.56 ¥150.94 54
Lynch FV ¥32.85 ¥46.93 ¥61.01 50
PEG = 1.0 ¥32.85 ¥46.93 ¥61.01 46
EPV ¥25.64 ¥28.87 ¥31.69 59
Dividend Discount
Gordon GGM ¥1.96 ¥4.08 ¥6.47 70
DDM Multi-Stage ¥1.96 ¥3.44 ¥4.28 61
Multiples
P/E Multiple ¥34.02 ¥45.36 ¥56.70 63
P/S Multiple ¥28.92 ¥38.56 ¥48.20 58
P/B Multiple ¥28.92 ¥38.56 ¥48.20 55
EV/EBIT ¥41.02 ¥52.59 ¥64.17 53
EV/EBITDA ¥37.97 ¥48.53 ¥59.09 54
EV/Revenue ¥29.70 ¥39.73 ¥49.76 43
Asset-Based
NCAV (Graham) ¥13.09 ¥17.54 ¥26.17 50
Growth DCF
Growth DCF ¥17.08 ¥27.22 ¥46.78 80
Rev-Margin DCF ¥27.28 ¥51.39 ¥87.88 74
Economic Profit
Residual Income ¥22.11 ¥23.99 ¥32.21 76
ROIC Compounder ¥25.64 ¥32.84 ¥40.52 72
Growth Earnings
Growth-Adj P/E ¥43.58 ¥62.26 ¥80.93 68

Widest divergence: Growth Earnings (¥62.26) versus Dividend Discount (¥3.44). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 14.2B CNY
Revenue growth (YoY) +17.3%
Net margin 13.3%
Return on equity 8.9%
Free cash flow 586M CNY FY2025
P/E ratio 48.9
More key figures
Operating margin 17.4%
EPS (TTM) ¥2.31
Dividend yield 0.3%
EPS growth (YoY) +6.7%
Net debt 109M CNY FY2019

Figures from reported company fundamentals · as of Jul 15, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 55/100

Of which business quality 61 · Market factors (momentum, volatility) 40

Profitability 41
Margins and returns on capital today
Quality Growth 68
Are margins and returns improving?
Cashflow 41
Earnings quality: real cash, not paper profit
Fin. Strength 91
Balance sheet, leverage, solvency risk
Investment 46
Disciplined investing over empire-building
Low Volatility 79
Calm price path (market factor)
Momentum 26
Price trend over the last 3–12 months (market factor)
52W Momentum 21
Distance to the 52-week high (market factor)
Net Issuance 82
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

Shanghai United Imaging Healthcare Co., Ltd. engages in the provision, development, and production of advanced medical imaging solutions, radiotherapy equipment, life science instruments, and intelligent digital solutions worldwide. The company provides molecular imaging products; and magnetic resonance imaging solutions.

Full company description

Shanghai United Imaging Healthcare Co., Ltd. engages in the provision, development, and production of advanced medical imaging solutions, radiotherapy equipment, life science instruments, and intelligent digital solutions worldwide. The company provides molecular imaging products; and magnetic resonance imaging solutions. It also offers computed tomography equipment; digital radiography equipment; mammography equipment; angiography equipment; mobile C-arm equipment; and radiotherapy systems comprising uRT-linac 506c, uRT-linac 306, and Intelligent RT Cloud Ecosystem. In addition, it provides uVision, a remote vision system that enables real-time positioning observation and automatic field of view identification; a low-dose, 3D mammography platform; and Remote Vision and Exposure Control technology application, a handheld X-ray from UIH that enables accurate positioning while reducing exposure radiation. Further, the company offers United Neuro, a medical imaging software used to analyze functional magnetic resonance imaging and diffusion tensor imaging data, and U-VIEWER, software that helps in viewing DICOM images. Additionally, it provides training, monitoring, maintenance, and troubleshooting services. Shanghai United Imaging Healthcare Co., Ltd. was founded in 2011 and is headquartered in Shanghai, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Shanghai United Imaging Healthcare Co reported revenue of ¥13.8B in FY2025 versus ¥7.3B in FY2021, a compound +17.4%/yr. Reported net income was ¥1.9B in FY2025, compounding +7.2%/yr from FY2021.

Growth Quality 81/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
13.8B CNY
Latest YoY
+34.0%
Avg. growth/yr (3Y)
+14.3%
Avg. growth/yr (5Y)
+19.1%
Revenue +17.4%/yr
FY21 ¥7.3B
FY22 ¥9.2B
FY23 ¥11.4B
FY24 ¥10.3B
FY25 ¥13.8B
Net income +7.2%/yr
FY21 ¥1.4B
FY22 ¥1.7B
FY23 ¥2.0B
FY24 ¥1.3B
FY25 ¥1.9B

688271 screens 61% overvalued. Compare with Abbott Laboratories, →

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Cite: Fair Value Calculator (2026). "Shanghai United Imaging Healthcare Co Fair Value". https://www.fairvalue-calculator.com/stock/688271

Peer Group

Medical Devices · 350 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 55 · Above median
Fair Value upside −61% · Bottom 25%
Return on equity (TTM) 9% · Above median
Return on assets 4% · Above median
Net margin (TTM) 13% · Top 25%
Operating margin (TTM) 17% · Top 25%
Revenue growth 17% · Above median
Dividend yield (TTM) 0.3% · Bottom 25%
Debt / equity 0.02× · Lower than median

Valuation Multiples vs Medical Devices median · lower = cheaper

P/E (TTM) 48.5× · Pricier than 75% of peers
P/B 4.28× · Pricier than 75% of peers
P/S (TTM) 6.49× · Pricier than 75% of peers
P/FCF 23.4× · Pricier than 75% of peers
EV/EBITDA 35.5× · 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 87 · sector 27
PAST 35 · sector 8
HEALTH 99 · sector 97
DIVIDEND 6 · sector 38

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

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 15, 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%
DexCom, Inc DXCM $74.96 $38.95 -48%
Shenzhen Mindray Bio-Medical Electronics Co 300760 ¥149.43 ¥147.63 -1%
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 Shanghai United Imaging Healthcare Co (688271) overvalued or undervalued?
As of Jul 15, 2026, our model estimates a fair value of ¥43.60 versus a price of ¥111.00, about −61% (overvalued).
What is the fair value of 688271?
Our model-based fair value for Shanghai United Imaging Healthcare Co is ¥43.60 (as of Jul 15, 2026), built from audited fundamentals. The current price is ¥111.00.
What is the quality score of 688271?
Shanghai United Imaging Healthcare Co has a Quality Score of 55/100. It combines two groups: business quality (profitability, growth, cash flow, balance-sheet strength) and market factors (price momentum, distance to the 52-week high, volatility). Both subtotals are shown separately in the detail view.
What is the revenue of Shanghai United Imaging Healthcare Co (688271)?
Shanghai United Imaging Healthcare Co reported trailing-twelve-month revenue of about 14.2B CNY (latest available figure, as of Jul 15, 2026).
What is the net profit margin of 688271?
The net profit margin of Shanghai United Imaging Healthcare Co is about 13.3%, meaning it keeps roughly 13.3% of revenue as net income. Based on the latest reported figures.
Does Shanghai United Imaging Healthcare Co pay a dividend?
Shanghai United Imaging Healthcare Co currently shows a dividend yield of about 0.28% relative to its recent price (as of Jul 15, 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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