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Xiangyu Medical Co (688626) Fair Value & Analysis

Healthcare · CN · Market cap 7.1B CNY

XM Xiangyu Medical Co 688626 · SHG
Price¥46.70
Fair Value¥16.97
Upside-63.7%
Quality47/100
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Expensive Growth
Solidly profitable · 10.4% net margin
negative free cash flow
0.40% dividend yield
Trails peers (4/12)
Narrow moat 38/100
Evidence: Medium Range ¥14.62 – ¥19.12 Share as image

Fair value as of: Aug 7, 2026

From 16 valuation models · updated yesterday

Below-average quality, and screening another 64% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥19.12). The favourable scenario is already priced in.
  • Solid but not exceptional quality (47/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

¥115.72 ¥21.51 Fair Value ¥16.97 Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 7, 2026.

How to read this chart

60‑month range ¥21.51 – ¥115.72 · fair‑value band ¥14.62 – ¥19.12 · the ¥46.70 price screens above the ¥16.97 fair value. Dashed = 300-day average. As of Aug 7, 2026.

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Analysis

Xiangyu Medical Co (688626) currently trades at ¥46.70, while our model-based Fair Value estimate is ¥16.97, implying the stock looks roughly 63.7% overvalued today. We read business quality at 47/100 (below-average 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: medium).

Over the trailing twelve months, Xiangyu Medical Co generated revenue of 775M CNY at a net margin of 10.4%. Revenue grew 3.8% year over year. It earns a return on equity of 3.8%. The balance sheet holds a net cash position of 378M CNY. Fundamentals as of Aug 7, 2026

Our scenario range runs from ¥14.62 (bear case) to ¥19.12 (bull case); at ¥46.70, 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 51% below its 52-week high and 32% 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 -64%, 688626 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 ¥9.37 ¥9.28 ¥8.21 76
Gordon GGM ¥2.44 ¥4.86 ¥7.36 70
Growth-Adj P/E ¥5.39 ¥7.71 ¥10.02 68
All 16 models by family
Earnings-Based
Graham-Dodd ¥3.34 ¥12.47 ¥16.85 54
Lynch FV ¥3.00 ¥4.28 ¥5.57 50
PEG = 1.0 ¥3.00 ¥4.28 ¥5.57 46
EPV ¥8.46 ¥9.08 ¥9.62 59
Dividend Discount
Gordon GGM ¥2.44 ¥4.86 ¥7.36 70
DDM Multi-Stage ¥2.44 ¥4.20 ¥5.13 61
Multiples
P/E Multiple ¥7.38 ¥9.84 ¥12.30 63
P/S Multiple ¥6.27 ¥8.36 ¥10.45 58
P/B Multiple ¥6.27 ¥8.36 ¥10.45 55
EV/EBIT ¥11.02 ¥13.19 ¥15.35 53
EV/EBITDA ¥12.60 ¥15.30 ¥18.00 54
EV/Revenue ¥8.90 ¥10.78 ¥12.66 43
Asset-Based
NCAV (Graham) ¥6.38 ¥8.55 ¥12.75 50
Economic Profit
Residual Income ¥9.37 ¥9.28 ¥8.21 76
ROIC Compounder ¥8.46 ¥9.08 ¥9.62 67
Growth Earnings
Growth-Adj P/E ¥5.39 ¥7.71 ¥10.02 68

Widest divergence: Multiples (¥9.84) versus Dividend Discount (¥4.20). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 775M CNY
Revenue growth (YoY) +3.8%
Net margin 10.4%
Return on equity 3.8%
Free cash flow −97.4M CNY FY2025
P/E ratio 85.5
More key figures
Operating margin 14.4%
EPS (TTM) ¥0.5200
Dividend yield 0.4%
EPS growth (YoY) +6.7%
Net cash 378M CNY FY2024

Figures from reported company fundamentals · as of Aug 7, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 47/100

Of which business quality 57 · Market factors (momentum, volatility) 29

Profitability 31
Margins and returns on capital today
Quality Growth 41
Are margins and returns improving?
Cashflow 46
Earnings quality: real cash, not paper profit
Fin. Strength 86
Balance sheet, leverage, solvency risk
Investment 45
Disciplined investing over empire-building
Low Volatility 51
Calm price path (market factor)
Momentum 17
Price trend over the last 3–12 months (market factor)
52W Momentum 25
Distance to the 52-week high (market factor)
Net Issuance 92
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

Xiangyu Medical Co.,Ltd engages in the research, development, manufacture, and marketing of rehabilitation, physiotherapy, and pain management equipment in China.

Full company description

Xiangyu Medical Co.,Ltd engages in the research, development, manufacture, and marketing of rehabilitation, physiotherapy, and pain management equipment in China. It provides various therapy devices, such as smart occupational therapy, electrotherapy, sports therapy, rehabilitation, cold and heat therapy, gait, hydrotherapy, air compression therapy, phototherapy, traction tables, magnetic therapy, continuous passive motion (CPM), shock wave and ultrasound therapy, massage therapy, treatment tables and tilt tables, and microwave and shortwave therapy devices. The company was incorporated in 2002 and is headquartered in Anyang, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Xiangyu Medical Co reported revenue of ¥768M in FY2025 versus ¥523M in FY2021, a compound +10.0%/yr. Reported net income was ¥78.7M in FY2025, compounding −21.0%/yr from FY2021.

Growth Quality 46/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
768M CNY
Latest YoY
+3.3%
Avg. growth/yr (3Y)
+16.3%
Avg. growth/yr (5Y)
+9.2%
Avg. growth/yr (8Y)
+13.0%
Revenue +10.0%/yr
FY21 ¥523M
FY22 ¥489M
FY23 ¥745M
FY24 ¥744M
FY25 ¥768M
Net income −21.0%/yr
FY21 ¥202M
FY22 ¥125M
FY23 ¥227M
FY24 ¥103M
FY25 ¥78.7M

688626 screens 64% overvalued. Compare with Abbott Laboratories, →

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Cite: Fair Value Calculator (2026). "Xiangyu Medical Co Fair Value". https://www.fairvalue-calculator.com/stock/688626

Peer Group

Medical Devices · 352 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 47 · Above median
Fair Value upside −64% · Bottom 25%
Return on equity (TTM) 4% · Above median
Return on assets 1% · Below median
Net margin (TTM) 10% · Above median
Operating margin (TTM) 14% · Above median
Revenue growth 4% · Below median
Dividend yield (TTM) 0.4% · Bottom 25%

Valuation Multiples vs Medical Devices median · lower = cheaper

P/E (TTM) 85.5× · Pricier than 75% of peers
P/B 3.48× · Pricier than 75% of peers
P/S (TTM) 9.18× · Pricier than 75% of peers
EV/EBITDA 72.4× · 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 19 · sector 29
PAST 15 · sector 8
HEALTH 0 · sector 97
DIVIDEND 8 · 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 Aug 7, 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 Xiangyu Medical Co (688626) overvalued or undervalued?
As of Aug 7, 2026, our model estimates a fair value of ¥16.97 versus a price of ¥46.70, about −64% (overvalued).
What is the fair value of 688626?
Our model-based fair value for Xiangyu Medical Co is ¥16.97 (as of Aug 7, 2026), built from audited fundamentals. The current price is ¥46.70.
What is the quality score of 688626?
Xiangyu Medical Co has a Quality Score of 47/100. 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 Xiangyu Medical Co (688626)?
Xiangyu Medical Co reported trailing-twelve-month revenue of about 775M CNY (latest available figure, as of Aug 7, 2026).
What is the net profit margin of 688626?
The net profit margin of Xiangyu Medical Co is about 10.4%, meaning it keeps roughly 10.4% of revenue as net income. Based on the latest reported figures.
Does Xiangyu Medical Co pay a dividend?
Xiangyu Medical Co currently shows a dividend yield of about 0.40% relative to its recent price (as of Aug 7, 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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