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Golden Throat Holdings Group Co Ltd (6896) Fair Value & Analysis

Healthcare · HK · Market cap HK$2.3B

GT Golden Throat Holdings Group Co Ltd 6896 · HK
PriceHK$3.24
Fair ValueHK$7.35
Upside+127.2%
Quality68/100
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Mixed Growth
Highly profitable · 26.6% net margin
Low debt · generates free cash flow
10.13% dividend yield
Ranks above peers (11/14)
Wide moat 74/100
Evidence: High Range HK$4.38 – HK$9.25 Share as image

Fair value as of: Aug 13, 2026

From 26 valuation models · updated 3 days ago

Fair value updated Aug 13, 2026, revised from HK$7.34 to HK$7.35 (+0.1%) since Aug 6, 2026. Share price +5.4% over the past month.

A solid business, screening 127% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (HK$4.38). The market is more pessimistic than our downside scenario.
  • Solid quality (68/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (HK$4.38 to HK$9.25) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

HK$4.51 HK$0.6904 Fair Value HK$7.35 Dec 2020 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range HK$0.6904 – HK$4.51 · fair‑value band HK$4.38 – HK$9.25 · the HK$3.24 price screens below the HK$7.35 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Golden Throat Holdings Group Co Ltd (6896) currently trades at HK$3.24, while our model-based Fair Value estimate is HK$7.35, implying the stock looks roughly 127.2% undervalued today. The Quality Score stands at 68/100 (solid quality), in the Healthcare sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Golden Throat Holdings Group Co Ltd generated revenue of HK$943M at a net margin of 26.6%. Revenue declined 5.5% year over year. It earns a return on equity of 17.7%. The balance sheet holds a net cash position of HK$473M. Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$4.38 (bear case) to HK$9.25 (bull case); at HK$3.24, the current price sits below 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 30% below its 52-week high and 20% above its 52-week low, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -49% fair-value upside, at 127%, 6896 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$2.49 HK$3.01 HK$3.73 80
Residual Income HK$2.08 HK$2.54 HK$5.22 76
Rev-Margin DCF HK$2.56 HK$3.32 HK$4.18 74
All 26 models by family
DCF Models
FCF DCF HK$2.47 HK$3.07 HK$3.94 38
Owner Earnings HK$4.83 HK$6.66 HK$9.34 31
5Y Revenue Exit HK$2.56 HK$3.32 HK$4.28 39
5Y EBITDA Exit HK$4.26 HK$6.50 HK$9.13 41
5Y P/E Exit HK$4.78 HK$7.47 HK$10.31 38
10Y Revenue Exit HK$2.48 HK$3.15 HK$4.05 36
10Y EBITDA Exit HK$3.58 HK$5.31 HK$7.67 37
10Y P/E Exit HK$3.90 HK$5.97 HK$8.54 35
Earnings-Based
Graham-Dodd HK$2.31 HK$7.18 HK$9.54 54
Lynch FV HK$1.56 HK$2.23 HK$2.89 50
PEG = 1.0 HK$1.56 HK$2.23 HK$2.89 46
EPV HK$4.10 HK$4.54 HK$4.92 59
Dividend Discount
Gordon GGM HK$4.02 HK$8.02 HK$12.14 70
DDM Multi-Stage HK$4.02 HK$6.53 HK$8.46 61
Multiples
P/E Multiple HK$5.35 HK$7.14 HK$8.92 63
P/S Multiple HK$1.53 HK$2.04 HK$2.55 58
P/B Multiple HK$4.33 HK$5.78 HK$7.22 55
EV/EBIT HK$6.56 HK$8.30 HK$10.04 53
EV/EBITDA HK$5.78 HK$7.26 HK$8.74 54
EV/Revenue HK$2.68 HK$3.25 HK$3.82 43
Asset-Based
NCAV (Graham) HK$0.9300 HK$1.25 HK$1.86 50
Growth DCF
Growth DCF HK$2.49 HK$3.01 HK$3.73 80
Rev-Margin DCF HK$2.56 HK$3.32 HK$4.18 74
Economic Profit
Residual Income HK$2.08 HK$2.54 HK$5.22 76
ROIC Compounder HK$4.22 HK$4.81 HK$5.41 72
Growth Earnings
Growth-Adj P/E HK$4.42 HK$6.32 HK$8.21 68

Widest divergence: Dividend Discount (HK$6.53) versus Asset-Based (HK$1.25). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) HK$943M
Revenue growth (YoY) -5.5%
Net margin 26.6%
Return on equity 17.7%
Free cash flow HK$78.0M FY2025
P/E ratio 7.8 as of Jul 2, 2026
More key figures
Operating margin 35.8%
EPS (TTM) HK$0.1100
Dividend yield 10.1%
EPS growth (YoY) -9.2%
Net cash HK$473M FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 68/100

Of which business quality 64 · Market factors (momentum, volatility) 42

Profitability 63
Margins and returns on capital today
Quality Growth 19
Are margins and returns improving?
Cashflow 36
Earnings quality: real cash, not paper profit
Fin. Strength 94
Balance sheet, leverage, solvency risk
Investment 95
Disciplined investing over empire-building
Low Volatility 76
Calm price path (market factor)
Momentum 36
Price trend over the last 3–12 months (market factor)
52W Momentum 16
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

Golden Throat Holdings Group Company Limited, an investment holding company, manufactures and sells pharmaceutical, healthcare food, and other products in the People's Republic of China and internationally.

Full company description

Golden Throat Holdings Group Company Limited, an investment holding company, manufactures and sells pharmaceutical, healthcare food, and other products in the People's Republic of China and internationally. The company offers Golden Throat Lozenges, an over-the-counter medicine to relieve symptoms of sore and dry throat, and hoarse voice caused by acute pharyngitis. It also provides Golden Throat Lozenge series products, which include Dule Lozenges; sugar-free Dule Lozenges; and other sugar free flavors, such as orange, fructus momordicae, chrysanthemum, American ginseng, and hawthorn. In addition, the company offers Yinxingye tablets to facilitate blood circulation, remove blood stasis, and dredge energy channels; Golden Throat Propolis Soothing Spray Series; Golden Throat intestinal series for probiotics; and Golden Throat Compound Probiotic Lozenges. It exports its products to approximately 60 countries and regions. Golden Throat Holdings Gro3WEup Company Limited was founded in 1956 and is headquartered in Liuzhou, the People's Republic of China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Golden Throat Holdings Group Co Ltd reported revenue of HK$943M in FY2025 versus HK$821M in FY2021, a compound +3.5%/yr. Reported net income was HK$251M in FY2025, compounding +7.6%/yr from FY2021.

Growth Quality 71/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
HK$943M
Latest YoY
−20.4%
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.
−1.7%
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.
+7.8%
Avg. growth/yr (13Y) 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.
+3.7%
Revenue +3.5%/yr
FY21 HK$821M
FY22 HK$992M
FY23 HK$961M
FY24 HK$1.2B
FY25 HK$943M
Net income +7.6%/yr
FY21 HK$188M
FY22 HK$281M
FY23 HK$250M
FY24 HK$319M
FY25 HK$251M
Character of growth · EPS growth decomposed (2014-2025) +7.3 % p.a.
Revenue per share +2.9 pp

of which total revenue +4.5 pp · buybacks/dilution −1.6 pp

EBIT margin +3.8 pp
Tax rate +0.3 pp
Residual (interest, one-offs) +0.4 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "Golden Throat Holdings Group Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/6896

Peer Group

Drug Manufacturers - Specialty & Generic · 622 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 68 · Top 25%
Fair Value upside +127% · Top 25%
Return on equity (TTM) 18% · Top 25%
Return on assets 8% · Top 25%
Net margin (TTM) 27% · Top 25%
Operating margin (TTM) 36% · Top 25%
Revenue growth -6% · Below median
Dividend yield (TTM) 10.1% · Top 25%
Debt / equity 0.05× · Lower than median

Valuation Multiples vs Drug Manufacturers - Specialty & Generic median · lower = cheaper

P/E (TTM) 7.8× · Cheaper than 75% of peers
P/B 1.64× · Cheaper than median
P/S (TTM) 2.40× · Pricier than median
P/FCF 3.7× · Pricier than median
EV/EBITDA 3.8× · Cheaper 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 100 · sector 7
FUTURE 0 · sector 21
PAST 71 · sector 25
HEALTH 97 · sector 97
DIVIDEND 100 · sector 32

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 Drug Manufacturers - Specialty & Generic stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Jiangsu Hengrui Pharmaceuticals Co 600276 ¥53.76 ¥25.94 -52%
Sun Pharmaceutical Industries Limited SUNPHARMA ₹1,944 ₹989.50 -49%
Divi's Laboratories Limited DIVISLAB ₹8,500 ₹1,932 -77%
Torrent Pharmaceuticals Limited TORNTPHARM ₹4,915 ₹1,163 -76%
PharmaEssentia Corporation 6446 1,440 TWD 233.93 TWD -84%
Cipla Limited CIPLA ₹1,463 ₹1,001 -32%
Zydus Lifesciences Limited ZYDUSLIFE ₹1,167 ₹703.32 -40%
Lupin Limited LUPIN ₹2,281 ₹2,477 +9%
Mankind Pharma Limited MANKIND ₹2,433 ₹983.11 -60%
Dr. Reddy's Laboratories Limited DRREDDY ₹1,200 ₹874.79 -27%

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Frequently asked questions

Is Golden Throat Holdings Group Co Ltd (6896) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$7.35 versus a price of HK$3.24, about +127% (undervalued).
What is the fair value of 6896?
Our model-based fair value for Golden Throat Holdings Group Co Ltd is HK$7.35 (as of Aug 13, 2026), built from audited fundamentals. The current price is HK$3.24.
What is the quality score of 6896?
Golden Throat Holdings Group Co Ltd has a Quality Score of 68/100. 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 Golden Throat Holdings Group Co Ltd (6896)?
Golden Throat Holdings Group Co Ltd reported trailing-twelve-month revenue of about HK$943M (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 6896?
The net profit margin of Golden Throat Holdings Group Co Ltd is about 26.6%, meaning it keeps roughly 26.6% of revenue as net income. Based on the latest reported figures.
Does Golden Throat Holdings Group Co Ltd pay a dividend?
Golden Throat Holdings Group Co Ltd currently shows a dividend yield of about 10.13% relative to its recent price (as of Aug 13, 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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