Bioray Biotech Co., Ltd (7561) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Bioray Biotech Co., Ltd TWD 23.98, price TWD 21.00, upside +14.2%, quality 84 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Sep 24, 2026.
How to read this chart
10‑month range 16.15 TWD – 26.00 TWD · fair‑value band 18.43 TWD – 29.98 TWD · the 21.00 TWD price screens below the 23.98 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Sep 24, 2026.
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Bioray Biotech Co., Ltd engages in the production, research, and sells health foods, immune cell products, and precision testing services in Taiwan.
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Bioray Biotech Co., Ltd engages in the production, research, and sells health foods, immune cell products, and precision testing services in Taiwan. It offers health care products, including various functional foods and supplements; medicinal fungi; immune cell products; and precision medicine services, such as immunology, cell division, and specialized laboratory testing. The company is also involved in the cell testing and storage business. Bioray Biotech Co., Ltd was founded in 2005 and is based in Tainan City, Taiwan.
Stock analysis
Bioray Biotech Co., Ltd (7561) currently trades at 21.00 TWD, while our model-based Fair Value estimate is 23.98 TWD, implying the stock looks roughly 12.4% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 37.68 TWD per share, and 16 of the 24 models we run sit above the 21.00 TWD price.
Bear case: the Earnings-Based group reads lowest at 6.95 TWD, and 8 of the 24 models stay below the price. Evidence for this calculation is low.
Scenario range: 18.43 TWD (bear) to 29.98 TWD (bull), the price of 21.00 TWD sits inside 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 84/100 (high quality), in the Healthcare sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Bioray Biotech Co., Ltd reported revenue of 223M TWD in FY2025 versus 148M TWD in FY2021, a compound +10.8%/yr. Reported net income was 32.3M TWD in FY2025.
Key figures
Market cap 621M TWD (≈ $19.6M) · P/E ratio 19.3 · P/S ratio 2.79 · EPS (TTM) 1.09 TWD · Net margin 14.5% · Return on equity 7.4% · Return on assets (EBIT) 0.2% · Operating margin 13.3%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
For context, the median of 10 Healthcare peers we cover trades at −8% fair-value upside, at 14%, 7561 screens cheaper than that median.
Fair Value models
Bear 18.43 TWDFair Value 23.98 TWDBull 29.98 TWD
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (0.8003 TWD per share) are deliberately not added.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 ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
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.79/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+10.4%
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.
+5.3%
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.
+7.3%
Start year 2020 (pandemic)
Revenue growth 6 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.
+3.4%
’19
’20
’21
’22
’23
’24
’25
What shareholders gained per year (last 5 years), in TWD ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: EBIT basis. Measured in TWD: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
≈ +38.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+38.6%
Dividend (yield on the price)0.0%
Profit margin 2020 to 2025 ⓘ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.0% → 17%
⚠ Rate on operating basis: 2025 sits 4,139% above its own trend.
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−13.0%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Taiwan: IMF forecast 1.6% a year to 2030, 1.5% from 2016 to 2025) that is about −14.3% a year for the price.
Compare Bioray Biotech Co., Ltd with another stock
Price, fair value, quality and upside side by side.
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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.Drug Manufacturers - Specialty & Generic · 629 stocks
Beats the industry median on 10/12 measures
Overall it ranks above its industry peers.
Valuation
Quality Score84 · Top 25%
Fair Value upside+14% · Above median
Profitability
Return on equity (TTM)7% · Above median
Return on assets4% · Above median
Net margin (TTM)14% · Top 25%
Operating margin (TTM)13% · Above median
Growth and dividend
Revenue growth−6% · Below median
Valuation Multiplesvs Drug Manufacturers - Specialty & Generic median · lower = cheaper
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Is Bioray Biotech Co., Ltd (7561) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 23.98 TWD versus a price of 21.00 TWD, about +14% upside (undervalued).
What is the fair value of 7561?
Our model-based fair value for Bioray Biotech Co., Ltd is 23.98 TWD (as of Sep 24, 2026), built from audited fundamentals. The current price: 21.00 TWD.
What is the quality score of 7561?
Bioray Biotech Co., Ltd has a Quality Score of 84/100. 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 Bioray Biotech Co., Ltd (7561)?
Our model-based price target is the fair value of 23.98 TWD (as of Sep 24, 2026) from 24 valuation models. Cautious scenario 18.43 TWD, optimistic scenario 29.98 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Bioray Biotech Co., Ltd stock forecast for 2026?
Our models put fair value at 23.98 TWD, about +14% upside versus a price of 21.00 TWD (undervalued). Cautious scenario 18.43 TWD, optimistic scenario 29.98 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Bioray Biotech Co., Ltd (7561)?
Bioray Biotech Co., Ltd reported trailing-twelve-month revenue of about 223M TWD (latest available figure, as of Sep 24, 2026).
What growth is priced into Bioray Biotech Co., Ltd (7561)?
For today's price to be fair in a discounted-cash-flow model, Bioray Biotech Co., Ltd would have to grow free cash flow by -13.0 % per year for five years (discount rate 9.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +7.3 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 7561 use?
Our models discount Bioray Biotech Co., Ltd at 9.0 %: a base by market capitalisation (nano), damped by beta 0.13, country premium for Taiwan. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Bioray Biotech Co., Ltd that is -13.0 % per year a year over ten years, using the same discount rate (9.0 %) and the same formula as our fair value.
How much growth has Bioray Biotech Co., Ltd (7561) delivered so far?
Over the past 5 years revenue at Bioray Biotech Co., Ltd grew +7.3 % a year. The price currently implies -13.0 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Bioray Biotech Co., Ltd (7561) growing?
The median revenue growth in the sector is +0.0 % a year. That is the yardstick for the growth priced into Bioray Biotech Co., Ltd (-13.0 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Bioray Biotech Co., Ltd (7561)?
The free-cash-flow yield on the price is 11.46 %: that much free cash flow Bioray Biotech Co., Ltd produces per unit of market value. When it exceeds the discount rate of our models (9.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Bioray Biotech Co., Ltd (7561)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Bioray Biotech Co., Ltd it is 23.98 TWD per share (as of Sep 24, 2026), against a price of 21.00 TWD. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Bioray Biotech Co., Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 7561 trades below its calculated fair value: price 21.00 TWD, fair value 23.98 TWD, a gap of about +14% (undervalued). 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 7561?
No. The price is what the market pays today (21.00 TWD); the fair value is what the company's own numbers justify (23.98 TWD). For Bioray Biotech Co., Ltd the two are 2.98 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Bioray Biotech Co., Ltd worth?
The market values Bioray Biotech Co., Ltd at about 621M TWD (market capitalisation, as of Sep 24, 2026). Per share that is 21.00 TWD; our models calculate a fair value of 23.98 TWD per share.
What do the bullish and bearish scenarios say about 7561?
Our models span a range for Bioray Biotech Co., Ltd: cautious scenario 18.43 TWD, base 23.98 TWD, optimistic 29.98 TWD per share (as of Sep 24, 2026, price 21.00 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 7561?
Bioray Biotech Co., Ltd trades at a price-to-earnings ratio of 19.3 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 23.98 TWD is built from several models across several years. Other multiples: P/B 1.4, P/S 2.8, EV/EBITDA 8.0.
How solid is the balance sheet of Bioray Biotech Co., Ltd (7561)?
Balance-sheet figures for Bioray Biotech Co., Ltd (as of Sep 24, 2026): return on equity 7.4%. They feed the Quality Score of 84/100, which measures business quality independently of the share price.
Which stocks are comparable to Bioray Biotech Co., Ltd?
From the same area (Healthcare) we also value Merck KGaA, Takeda Pharmaceutical Company, Jiangsu Hengrui Pharmaceuticals Co, Sun Pharmaceutical Industries 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 Bioray Biotech Co., Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price 21.00 TWD, calculated fair value 23.98 TWD (+14%), Quality Score 84/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 7561 calculated?
We run Bioray Biotech Co., Ltd through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 23.98 TWD, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.0 % above its aggregate fair value. Bioray Biotech Co., Ltd currently trades 14 % below its own fair value, and the market average says nothing about that. 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 Bioray Biotech Co., Ltd (7561)?
The closing price on Sep 24, 2026 was 21.00 TWD. Our model-based fair value is 23.98 TWD, about +14% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Bioray Biotech Co., Ltd right now?
Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual. The price sits in the lower half of our model range, the side with the larger margin of safety. Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.
Key figures of Bioray Biotech Co., Ltd
How large is the market capitalisation of Bioray Biotech Co., Ltd (7561)?
The market capitalisation of Bioray Biotech Co., Ltd is 621M TWD (≈ $19.6M). 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 Bioray Biotech Co., Ltd (7561)?
The price-to-sales ratio of Bioray Biotech Co., Ltd is 2.79 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Bioray Biotech Co., Ltd (7561)?
Earnings per share at Bioray Biotech Co., Ltd are 1.09 TWD (price ÷ EPS = P/E 19.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Bioray Biotech Co., Ltd (7561)?
The net margin of Bioray Biotech Co., Ltd is 14.5% (fiscal year 2025). 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 Bioray Biotech Co., Ltd (7561)?
The return on equity (ROE) of Bioray Biotech Co., Ltd is 7.4% (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 Bioray Biotech Co., Ltd (7561)?
On an EBIT basis the return on assets of Bioray Biotech Co., Ltd is 0.2% (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 Bioray Biotech Co., Ltd (7561)?
The operating margin of Bioray Biotech Co., Ltd is 13.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Bioray Biotech Co., Ltd (7561)?
Revenue at Bioray Biotech Co., Ltd is growing −6.3% versus a year earlier (3y avg +5.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Bioray Biotech Co., Ltd (7561)?
Earnings per share at Bioray Biotech Co., Ltd are growing +17.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Bioray Biotech Co., Ltd (7561) hold?
Bioray Biotech Co., Ltd holds more cash than debt, 92.4M TWD net (fiscal year 2024). The company holds more cash than debt, a safety cushion.
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