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Bioray Biotech Co (7561) Fair Value & Analysis

Healthcare · TW · Market cap 605M TWD

BB Bioray Biotech Co 7561 · TWO
Price16.45 TWD
Fair Value21.80 TWD
Upside+32.5%
Quality84/100
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Healthy Growth
Solidly profitable · 14.5% net margin
Low debt · generates free cash flow
Ranks above peers (11/13)
Moderate moat 50/100
Evidence: High Range 16.35 TWD – 27.25 TWD Share as image

Fair value as of: Jul 23, 2026

From 26 valuation models · updated 18 days ago

Share price −9.1% over the past month.

A strong business, screening 33% undervalued on our models.

What matters now

  • The rarer combination: high quality (84/100) AND below fair value. That earns a closer look rather than a quick verdict.
  • Our model range runs from 16.35 TWD (bear) to 27.25 TWD (bull), base 21.80 TWD. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 84/100 (high quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (8 months)

26.00 TWD 16.45 TWD Fair Value 21.80 TWD Dec 2025 Aug 2026

White line = price, green steps = our fair value per fiscal year. As of Jul 23, 2026.

How to read this chart

8‑month range 16.45 TWD – 26.00 TWD · fair‑value band 16.35 TWD – 27.25 TWD · the 16.45 TWD price screens below the 21.80 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Jul 23, 2026.

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Analysis

Bioray Biotech Co (7561) currently trades at 16.45 TWD, while our model-based Fair Value estimate is 21.80 TWD, implying the stock looks roughly 32.5% undervalued today. The Quality Score stands at 84/100 (high 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, Bioray Biotech Co generated revenue of 230M TWD at a net margin of 13.3%. Revenue grew 33.0% year over year. It earns a return on equity of 7.1%. The balance sheet holds a net cash position of 92.4M TWD. Fundamentals as of Jul 23, 2026

Our scenario range runs from 16.35 TWD (bear case) to 27.25 TWD (bull case); at 16.45 TWD, the current price sits within 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 37% below its 52-week high, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -49% fair-value upside, at 33%, 7561 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 29.60 TWD 38.19 TWD 48.90 TWD 80
Residual Income 11.66 TWD 11.95 TWD 11.92 TWD 76
Rev-Margin DCF 22.55 TWD 29.56 TWD 37.68 TWD 74
All 26 models by family
DCF Models
FCF DCF 29.44 TWD 39.31 TWD 52.40 TWD 38
Owner Earnings 24.44 TWD 32.13 TWD 42.31 TWD 31
5Y Revenue Exit 22.55 TWD 29.26 TWD 37.49 TWD 39
5Y EBITDA Exit 26.66 TWD 36.91 TWD 48.63 TWD 41
5Y P/E Exit 24.61 TWD 33.09 TWD 41.80 TWD 38
10Y Revenue Exit 24.87 TWD 31.30 TWD 39.40 TWD 36
10Y EBITDA Exit 27.56 TWD 36.14 TWD 47.13 TWD 37
10Y P/E Exit 26.36 TWD 33.73 TWD 42.40 TWD 35
Earnings-Based
Graham-Dodd 7.41 TWD 22.66 TWD 30.08 TWD 54
Lynch FV 4.87 TWD 6.95 TWD 9.04 TWD 50
PEG = 1.0 4.87 TWD 6.95 TWD 9.04 TWD 46
EPV 16.12 TWD 17.38 TWD 18.42 TWD 59
Dividend Discount
Gordon GGM 1.58 TWD 2.85 TWD 3.92 TWD 70
DDM Multi-Stage 1.58 TWD 2.44 TWD 3.04 TWD 61
Multiples
P/E Multiple 16.35 TWD 21.80 TWD 27.25 TWD 63
P/S Multiple 13.90 TWD 18.53 TWD 23.16 TWD 58
P/B Multiple 13.90 TWD 18.53 TWD 23.16 TWD 55
EV/EBIT 24.17 TWD 29.92 TWD 35.66 TWD 53
EV/EBITDA 27.15 TWD 33.90 TWD 40.64 TWD 54
EV/Revenue 18.55 TWD 23.53 TWD 28.51 TWD 43
Asset-Based
NCAV (Graham) 7.66 TWD 10.26 TWD 15.31 TWD 50
Growth DCF
Growth DCF 29.60 TWD 38.19 TWD 48.90 TWD 80
Rev-Margin DCF 22.55 TWD 29.56 TWD 37.68 TWD 74
Economic Profit
Residual Income 11.66 TWD 11.95 TWD 11.92 TWD 76
ROIC Compounder 16.29 TWD 18.18 TWD 20.35 TWD 72
Growth Earnings
Growth-Adj P/E 13.51 TWD 19.29 TWD 25.08 TWD 68

Widest divergence: DCF Models (33.09 TWD) versus Dividend Discount (2.44 TWD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 230M TWD
Revenue growth (YoY) +33.0%
Net margin 13.3%
Return on equity 7.1%
Free cash flow 71.2M TWD FY2025
P/E ratio 17.6
More key figures
Operating margin 20.6%
EPS (TTM) 1.09 TWD
Net cash 92.4M TWD FY2024

Figures from reported company fundamentals · as of Jul 23, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 84/100

Of which business quality 82 · Market factors (momentum, volatility) 28

Profitability 41
Margins and returns on capital today
Quality Growth 85
Are margins and returns improving?
Cashflow 100
Earnings quality: real cash, not paper profit
Fin. Strength 100
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 67
Calm price path (market factor)
Momentum 15
Price trend over the last 3–12 months (market factor)
52W Momentum 5
Distance to the 52-week high (market factor)
Net Issuance 77
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

Bioray Biotech Co., Ltd engages in the production, research, and sells health foods, immune cell products, and precision testing services in Taiwan.

Full company description

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.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Bioray Biotech Co 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.

Growth Quality 79/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
223M TWD
Latest YoY
+10.4%
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.
+5.3%
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.
+7.3%
Avg. growth/yr (6Y) 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.
+3.4%
Revenue +10.8%/yr
FY21 148M TWD
FY22 191M TWD
FY23 192M TWD
FY24 202M TWD
FY25 223M TWD
Net income
FY21 −7.2M TWD
FY22 500K TWD
FY23 −11.6M TWD
FY24 1.0M TWD
FY25 32.3M TWD

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Cite: Fair Value Calculator (2026). "Bioray Biotech Co Fair Value". https://www.fairvalue-calculator.com/stock/7561

Peer Group

Drug Manufacturers - Specialty & Generic · 624 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 84 · Top 25%
Fair Value upside +33% · Top 25%
Return on equity (TTM) 7% · Above median
Return on assets 4% · Above median
Net margin (TTM) 14% · Top 25%
Operating margin (TTM) 13% · Above median
Revenue growth -6% · Below median

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

P/E (TTM) 18.8× · Cheaper than median
P/B 1.34× · Cheaper than median
P/S (TTM) 2.72× · Pricier than median
P/FCF 0.3× · Cheaper than 75% of peers
EV/EBITDA 7.7× · Cheaper than median

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 77 · sector 7
FUTURE 0 · sector 20
PAST 30 · sector 24
HEALTH 100 · sector 97
DIVIDEND 0 · sector 34

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 Jul 23, 2026).

Stock Price Fair Value vs Fair Value
Jiangsu Hengrui Pharmaceuticals Co 600276 ¥53.19 ¥25.94 -51%
Sun Pharmaceutical Industries Limited SUNPHARMA ₹1,933 ₹989.50 -49%
Divi's Laboratories Limited DIVISLAB ₹7,316 ₹1,943 -73%
Torrent Pharmaceuticals Limited TORNTPHARM ₹4,763 ₹1,329 -72%
PharmaEssentia Corporation 6446 1,285 TWD 221.01 TWD -83%
Cipla Limited CIPLA ₹1,439 ₹1,001 -30%
Zydus Lifesciences Limited ZYDUSLIFE ₹1,151 ₹703.32 -39%
Lupin Limited LUPIN ₹2,443 ₹2,477 +1%
Mankind Pharma Limited MANKIND ₹2,484 ₹983.11 -60%
Dr. Reddy's Laboratories Limited DRREDDY ₹1,211 ₹874.79 -28%

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Frequently asked questions

Is Bioray Biotech Co (7561) overvalued or undervalued?
As of Jul 23, 2026, our model estimates a fair value of 21.80 TWD versus a price of 16.45 TWD, about +33% (undervalued).
What is the fair value of 7561?
Our model-based fair value for Bioray Biotech Co is 21.80 TWD (as of Jul 23, 2026), built from audited fundamentals. The current price is 16.45 TWD.
What is the quality score of 7561?
Bioray Biotech Co 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 revenue of Bioray Biotech Co (7561)?
Bioray Biotech Co reported trailing-twelve-month revenue of about 230M TWD (latest available figure, as of Jul 23, 2026).
What is the net profit margin of 7561?
The net profit margin of Bioray Biotech Co is about 13.3%, meaning it keeps roughly 13.3% of revenue as net income. Based on the latest reported figures.

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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