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Data-driven stock valuation

Chugai Pharmaceutical Co Ltd ADR (CHGCY) fair value: what the stock is really worth

We calculate from audited financials what Chugai Pharmaceutical Co Ltd ADR is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily, free.

  1. Compare price with fair valuebelow fair value = cheap, above = expensive
  2. Check the quality50 and up solid, 75 and up strong
  3. Watch it or check another stockalert when fair value or trend changes

Healthcare · US · Market cap $76.9B · ISIN US1712691039

At a glance

CP Chugai Pharmaceutical Co Ltd ADR logo Chugai Pharmaceutical Co Ltd ADR CHGCY · US
Price$21.59
Fair Value$18.41
Upside−14.7%
Quality78/100

A strong business, but trading 17% above our fair value of $18.41.

As of Sep 8, 2026, the fair value of Chugai Pharmaceutical Co Ltd ADR is $18.41 per share against a price of $21.59, so the fair value sits 15% below the price. A model estimate from reported figures, not an analyst target.

Healthy Growth (revenue 5y +10.9 %/yr)
Highly profitable · 35.0% net margin
Low debt · generates free cash flow
·3.79% dividend yield
Ranks above peers (10/15)
Wide moat 89/100
!Evidence only medium, so the estimate is less certain
!Weak on valuation: 14 out of 100
Evidence: Medium Range $11.03 to $24.71

Fair value as of: Sep 8, 2026

From 24 valuation models · updated today

Fair value updated Sep 8, 2026, revised from $18.12 to $18.41 (+1.6%) since Sep 6, 2026. Share price +3.3% over the past month.

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What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • A fairly wide model range ($11.03 to $24.71) leaves room in how you read the outcome.
  • The price sits in the upper half of our model range, so the margin of safety is thin.
  • Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.

Price vs Fair Value (5 years)

$33.48 $10.34 Fair Value $18.41 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 8, 2026.

How to read this chart

60‑month range $10.34 – $33.48 · fair‑value band $11.03 – $24.71 · the $21.59 price screens above the $18.41 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 8, 2026.

Full chart & analysis →

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Analysis

Chugai Pharmaceutical Co Ltd ADR (CHGCY) currently trades at $21.59, while our model-based Fair Value estimate is $18.41, implying the stock looks roughly 17.3% overvalued today. The Quality Score stands at 78/100 (high quality), in the Healthcare sector. Bull case: the DCF Models group reads highest at a median of $18.02 per share, and 3 of the 24 models we run sit above the $21.59 price. Bear case: the Asset-Based group reads lowest at $2.85, and 21 of the 24 models stay below the price. Evidence for this calculation is medium.

Over the trailing twelve months, Chugai Pharmaceutical Co Ltd ADR generated revenue of ¥1.3T at a net margin of 35.0%. Revenue grew 11.5% year over year. It earns a return on equity of 23.7%. The balance sheet holds a net cash position of ¥401B. Fundamentals as of Sep 8, 2026

Scenario range: $11.03 (bear) to $24.71 (bull), the price of $21.59 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target. The share trades about 36% below its 52-week high and 10% above its 52-week low, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at −18% fair-value upside, at −15%, CHGCY screens cheaper than that median.

Fair Value models

Each model values the company its own way; the fair value above is the evidence-weighted blend. Evidence (0 to 100) shows how complete a model's inputs are. How we calculate →

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
FCF DCF best evidence $9.16 $14.63 $23.49 79
Growth DCF $9.21 $14.52 $23.04 77
Owner Earnings $11.19 $18.02 $29.05 75
All 24 models by family
DCF Models
FCF DCF best evidence $9.16 $14.63 $23.49 79
Owner Earnings $11.19 $18.02 $29.05 75
5Y Revenue Exit $7.40 $11.37 $16.52 72
5Y EBITDA Exit $12.29 $20.93 $31.38 74
5Y P/E Exit $13.12 $22.53 $32.85 70
10Y Revenue Exit $7.76 $11.62 $17.03 66
10Y EBITDA Exit $11.12 $18.41 $28.84 67
10Y P/E Exit $11.65 $19.55 $30.01 63
Earnings-Based
Graham-Dodd $6.49 $24.51 $33.18 64
Lynch FV $5.94 $8.48 $11.03 61
PEG = 1.0 $5.94 $8.48 $11.03 57
EPV $9.82 $11.31 $12.61 74
Multiples
P/E Multiple $15.74 $20.99 $26.23 63
P/S Multiple $7.26 $9.68 $12.10 58
P/B Multiple $12.16 $16.22 $20.27 55
EV/EBIT $17.44 $22.95 $28.46 66
EV/EBITDA $15.27 $20.06 $24.85 67
EV/Revenue $6.70 $9.19 $11.68 54
Asset-Based
NCAV (Graham) $2.12 $2.85 $4.25 54
Growth DCF
Growth DCF $9.21 $14.52 $23.04 77
Rev-Margin DCF $7.40 $11.37 $16.19 72
Economic Profit
Residual Income $6.31 $8.43 $40.19 58
ROIC Compounder $10.69 $13.50 $16.87 72
Growth Earnings
Growth-Adj P/E $11.20 $15.99 $20.79 67

Widest divergence: DCF Models ($18.02) versus Asset-Based ($2.85). Highest evidence: FCF DCF (79).

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Key figures & financial health

P/E ratio 26.3
P/S ratio 9.08 P/E × margin
EPS (TTM) $0.8200 price ÷ EPS = P/E 26.3
Dividend yield 3.8% payout 99.8%
Net margin 34.5% FY2025
Return on equity 23.7% TTM
More key figures
Profitability
Return on assets (EBIT) 25.7% avg 5y
Operating margin 49.4% TTM
Growth
Revenue (TTM) ¥1.3T TTM
Revenue growth (YoY) +11.5% 3y avg +1.5%
EPS growth (YoY) +18.7%
Balance sheet & cash flow
Free cash flow ¥328B FY2025
Net cash ¥401B FY2025

Figures from reported company fundamentals · as of Sep 8, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 78/100

Of which business quality 75 · Market factors (momentum, volatility) 38

Profitability 76
Margins and returns on capital today
Quality Growth 56
Are margins and returns improving?
Cashflow 76
Earnings quality: real cash, not paper profit
Fin. Strength 92
Balance sheet, leverage, solvency risk
Investment 56
Disciplined investing over empire-building
Low Volatility 70
Calm price path (market factor)
Momentum 25
Price trend over the last 3–12 months (market factor)
52W Momentum 24
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Chugai Pharmaceutical Co., Ltd., together with its subsidiaries, engages in the research, development, manufacture, sale, importation, and exportation of pharmaceuticals in Japan and internationally.

Full company description

Chugai Pharmaceutical Co., Ltd., together with its subsidiaries, engages in the research, development, manufacture, sale, importation, and exportation of pharmaceuticals in Japan and internationally. It offers oncology products, such as Alecensa, Avastin, FoundationOne, Herceptin, Kadcyla, Lunsumio, Perjeta, Phesgo, Polivy, and Tecentriq; Actemra for humanized anti-human IL-6 receptor monoclonal antibody; CellCept, an immunosuppressant; Enspryng, a pH-dependent binding humanized anti-IL-6 receptor monoclonal antibody; Evrysdi, a spinal muscular atrophy agent; Hemlibra, an anti-coagulation factor IXa/X humanized bispecific monoclonal antibody; Mircera, an erythropoiesis-stimulating agent; PiaSky, a pH-dependent binding humanized anti-complement (C5) monoclonal antibody; Tamiflu, an anti-influenza agent; and Vabysmo, an anti VEGF/anti Ang-2 bispecific antibody. The company was formerly known as Chugai Shinyaku Shokai and changed its name to Chugai Pharmaceutical Co., Ltd. in January 1943. The company was founded in 1925 and is headquartered in Chuo, Japan. Chugai Pharmaceutical Co., Ltd. operates as a subsidiary of Roche Holding AG.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Chugai Pharmaceutical Co Ltd ADR reported revenue of ¥1.3T in FY2025 versus ¥1,000B in FY2021, a compound +7.2%/yr. Reported net income was ¥455B in FY2025, compounding +10.7%/yr from FY2021.

Growth Quality 93/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
¥1.3T
Latest YoY
+12.7%
Avg. revenue 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.
+1.5%
Avg. revenue 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.
+10.9%
Avg. revenue growth/yr (22Y) 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.
+8.2%
Value creation/yr (5Y, in JPY) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year. Measured in JPY: 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.
+20.0%
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share+16.2%
Dividend yield3.8%
Trend Two data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.5Y 16.2% vs 10Y 23.8%, flattening
Operating margin (EBIT) 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.38.3% (2020) → 46.9% (2025) · rising
Worst earnings drop38% (2011) · in JPY
Revenue +7.2%/yr
FY21 ¥1,000B
FY22 ¥1.3T
FY23 ¥1.1T
FY24 ¥1.2T
FY25 ¥1.3T
Net income +10.7%/yr
FY21 ¥303B
FY22 ¥374B
FY23 ¥325B
FY24 ¥387B
FY25 ¥455B
Character of growth · EPS growth decomposed (2014-2025) +24.2 % p.a.
Revenue per share +10.6 %

of which total revenue +10.6 % · buybacks/dilution +0.0 %

EBIT margin +11.6 %
Tax rate +0.3 %
Residual (interest, one-offs) +0.3 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

CHGCY screens 17% overvalued. Compare with Eli Lilly and Company →

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Cite: Fair Value Calculator (2026). "Chugai Pharmaceutical Co Ltd ADR Fair Value". https://www.fairvalue-calculator.com/stock/CHGCY

Peer Group

Drug Manufacturers - General · 74 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.

Valuation
Quality Score 78 · Top 25%
Fair Value upside −18% · Above median
Profitability
Return on equity (TTM) 24% · Above median
Return on assets 17% · Top 25%
Net margin (TTM) 35% · Top 25%
Operating margin (TTM) 49% · Top 25%
Growth and dividend
Revenue growth 12% · Above median
Dividend yield (TTM) 3.8% · Top 25%

Valuation Multiples vs Drug Manufacturers - General median · lower = cheaper

P/E (TTM) 26.3× · Pricier than median
P/FCF 0.2× · Cheapest 25%
PEG 2.29× · Pricier than median

What the price implies (reverse DCF)

The inverse question: what free-cash-flow growth must Chugai Pharmaceutical Co Ltd ADR deliver for ten years so that today's price is fair in our DCF model? Same formula, same discount rate as the fair value.

Implied FCF growth, 10 years+9.9 % per year
Achieved revenue growth, 5 years+10.9 % p.a.
Sector median revenue growth+4.4 %
FCF yield on price3.01 %
Discount rate (WACC) in the models8.2 %

The price demands roughly the growth the company recently delivered. Ranking of the largest stocks →

Context: sector, industry, market

Strength profile in five axes (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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE14 · sector 0
FUTURE58 · sector 28
PAST95 · sector 50
HEALTH100 · sector 94
DIVIDEND76 · sector 42

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

Similar stocks

10 more Drug Manufacturers - General stocks, each showing price versus our Fair Value estimate (as of Sep 8, 2026).

Stock Price Fair Value vs Fair Value
Eli Lilly and Company LLY $1,149 $389.47 −66%
Johnson & Johnson, JNJ $275.23 $169.04 −39%
AbbVie Inc ABBV $256.46 $67.72 −74%
Roche Holding RO CHF 374.60 CHF 306.54 −18%
Merck & Co MRK €131.98 €101.38 −23%
Novartis AG NOVN CHF 125.46 CHF 115.09 −8%
Novo Nordisk A/S NOVOB kr 298.95 kr 409.46 +37%
Amgen Inc AMGN $437.23 $252.02 −42%
Gilead Sciences, Inc GILD $151.00 $146.50 −3%
Pfizer Inc PFE $28.45 $24.87 −13%

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Frequently asked questions

Is Chugai Pharmaceutical Co Ltd ADR (CHGCY) overvalued or undervalued?
As of Sep 8, 2026, our model estimates a fair value of $18.41 versus a price of $21.59, about −15% upside (overvalued).
What is the fair value of CHGCY?
Our model-based fair value for Chugai Pharmaceutical Co Ltd ADR is $18.41 (as of Sep 8, 2026), built from audited fundamentals. The current price: $21.59.
What is the quality score of CHGCY?
Chugai Pharmaceutical Co Ltd ADR has a Quality Score of 78/100. 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 Chugai Pharmaceutical Co Ltd ADR (CHGCY)?
Our model-based price target is the fair value of $18.41 (as of Sep 8, 2026) from 24 valuation models. Cautious scenario $11.03, optimistic scenario $24.71. It is a calculation from audited fundamentals, not an analyst target.
What is the Chugai Pharmaceutical Co Ltd ADR stock forecast for 2026?
Our models put fair value at $18.41, about −15% upside versus a price of $21.59 (overvalued). Cautious scenario $11.03, optimistic scenario $24.71. The calculation is refreshed regularly with new filings.
What is the revenue of Chugai Pharmaceutical Co Ltd ADR (CHGCY)?
Chugai Pharmaceutical Co Ltd ADR reported trailing-twelve-month revenue of about ¥1.3T (latest available figure, as of Sep 8, 2026).
What is the net profit margin of CHGCY?
The net profit margin of Chugai Pharmaceutical Co Ltd ADR is about 35.0%, meaning it keeps roughly 35.0% of revenue as net income. Based on the latest reported figures.
Does Chugai Pharmaceutical Co Ltd ADR pay a dividend?
Chugai Pharmaceutical Co Ltd ADR currently shows a dividend yield of about 3.79% relative to its recent price (as of Sep 8, 2026).
What growth is priced into Chugai Pharmaceutical Co Ltd ADR (CHGCY)?
For today's price to be fair in a discounted-cash-flow model, Chugai Pharmaceutical Co Ltd ADR would have to grow free cash flow by +9.9 % per year for ten years (discount rate 8.2 %, then 2 % perpetual growth). Over the last 5 years revenue grew +10.9 % per year. As of Sep 8, 2026.
What discount rate (WACC) does the fair value of CHGCY use?
Our models discount Chugai Pharmaceutical Co Ltd ADR at 8.2 %: a base by market capitalisation (large), damped by beta 0.55, country premium for USA. The same rate applies in all 26 models.
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