InnoCare Pharma Limited (INCPF) fair value: what the stock is really worth
As of Sep 29, 2026: fair value of InnoCare Pharma Limited $1.29, price $1.85, upside -30.3%, quality 61 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, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range $1.55 – $3.72 · fair‑value band $1.00 – $1.78 · the $1.85 price screens above the $1.29 fair value. Dashed = 300-day average. As of Sep 24, 2026.
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InnoCare Pharma Limited, a biopharmaceutical company, engages in discovering, developing, and commercializing drugs for the treatment of cancer and autoimmune diseases in China.
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InnoCare Pharma Limited, a biopharmaceutical company, engages in discovering, developing, and commercializing drugs for the treatment of cancer and autoimmune diseases in China. The company develops Orelabrutinib, an BTK inhibitor to treat patients with relapsed and/or refractory (r/r) chronic lymphocytic leukemia, r/r mantle cell lymphoma, r/r Waldenstrom's macroglobulinemia, r/r marginal zone lymphoma, r/r diffuse large B-cell lymphoma (DLBCL)- MCD, r/r central nervous system lymphoma, combo w/MIL-62, systemic lupus erythematosus, immune thrombocytopenia purpura, multiple sclerosis, and neuromyelitis optica spectrum disorder. It also developing ICP-B02 to treat CD20+B-cell malignancies; ICP-B05 to treat hemato-oncology; ICP-248 to treat chronic lymphocytic leukemia; ICP-332 to treat atopic dermatitis; ICP-488 to treat psoriasis; ICP-538 to treat autoimmune diseases; zurletrectinib (ICP-723) to treat neurotrophic tyrosine receptor kinase fusion positive cancers; ICP-189 to treat non-small cell lung cancer; and ICP-B05 to treat solid tumor. InnoCare Pharma Limited was incorporated in 2015 and is headquartered in Beijing, China.
Stock analysis
InnoCare Pharma Limited (INCPF) currently trades at $1.85, while our model-based Fair Value estimate is $1.29, 30.3% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of $2.91 per share, and 7 of the 26 models we run sit above the $1.85 price.
Bear case: the Asset-Based group reads lowest at $0.5200, and 19 of the 26 models stay below the price. Evidence for this calculation is high.
Scenario range: $1.00 (bear) to $1.78 (bull), the price of $1.85 sits above 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 61/100 (solid quality), in the Healthcare sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
InnoCare Pharma Limited reported revenue of 2.3B CNY in FY2025 versus 1.0B CNY in FY2021, a compound +21.8%/yr. Reported net income was 626M CNY in FY2025.
Key figures
Market cap $3.3B · P/E ratio 25.8 · P/S ratio 7.04 · EPS (TTM) $0.0600 · Dividend yield 13.3% · Net margin 27.2% · Return on equity 10.4% · Return on assets (EBIT) −3.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 43% below its 52-week high and 19% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at 10% fair-value upside, at −30%, INCPF screens richer than that median.
Fair Value models
Bear $1.00Fair Value $1.29Bull $1.78
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 ($0.0454 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.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.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+127.6%
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.
+54.3%
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.
+341.9%
Start year 2020 (pandemic)
Revenue growth 8 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.
+250.0%
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Profit margin (trend) ⓘ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.
−40,981.4% (2020) → 19.2% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: no profitable base year
not computed
Growth Forecast
A lot of optimism in the price
The price assumes less growth than the company has delivered so far and more than analysts expect.
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).
+40.5%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+15.2%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in CNY, China: IMF forecast 1.7% a year to 2030, 1.4% from 2016 to 2025) that is about +38.2% a year for the price and +13.3% for the forecasts.
Compare InnoCare Pharma Limited 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.Biotechnology · 625 stocks
Beats the industry median on 8/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score61 · Top 25%
Fair Value upside−72.0% · Bottom 25%
Profitability
Return on equity (TTM)10.4% · Top 25%
Return on assets3.5% · Top 25%
Net margin (TTM)29.0% · Top 25%
Operating margin (TTM)14.0% · Above median
Growth and dividend
Revenue growth38.7% · Top 25%
Dividend yield (TTM)13.3% · Top 25%
Balance sheet
Debt / equity0.13× · Above median
Valuation Multiplesvs Biotechnology median · lower = cheaper
P/E (TTM)25.8× · Cheaper than median
P/B2.82× · Pricier than median
P/S (TTM)8.66× · Pricier than median
P/FCF166.9× · Priciest 25%
EV/EBITDA25.2× · Pricier than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)100· sector 0
PAST (return on equity)41· sector 0
HEALTH (low debt)94· sector 97
DIVIDEND (yield)100· sector 22
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is InnoCare Pharma Limited (INCPF) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of $1.29 versus a price of $1.85, about −30% upside (overvalued).
What is the fair value of INCPF?
Our model-based fair value for InnoCare Pharma Limited is $1.29 (as of Sep 24, 2026), built from audited fundamentals. The current price: $1.85.
What is the quality score of INCPF?
InnoCare Pharma Limited has a Quality Score of 61/100. 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 InnoCare Pharma Limited (INCPF)?
Our model-based price target is the fair value of $1.29 (as of Sep 24, 2026) from 26 valuation models. Cautious scenario $1.00, optimistic scenario $1.78. It is a calculation from audited fundamentals, not an analyst target.
What is the InnoCare Pharma Limited stock forecast for 2026?
Our models put fair value at $1.29, about −30% upside versus a price of $1.85 (overvalued). Cautious scenario $1.00, optimistic scenario $1.78. The calculation is refreshed regularly with new filings.
What is the revenue of InnoCare Pharma Limited (INCPF)?
InnoCare Pharma Limited reported trailing-twelve-month revenue of about 2.5B CNY (latest available figure, as of Sep 24, 2026).
Does InnoCare Pharma Limited pay a dividend?
InnoCare Pharma Limited currently shows a dividend yield of about 13.29% relative to its recent price (as of Sep 24, 2026).
What growth is priced into InnoCare Pharma Limited (INCPF)?
For today's price to be fair in a discounted-cash-flow model, InnoCare Pharma Limited would have to grow free cash flow by +40.5 % per year for five years (discount rate 8.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +341.9 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of INCPF use?
Our models discount InnoCare Pharma Limited at 8.5 %: a base by market capitalisation (mid), damped by beta 0.33, country premium for USA. 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 InnoCare Pharma Limited that is +40.5 % per year a year over ten years, using the same discount rate (8.5 %) and the same formula as our fair value.
How much growth has InnoCare Pharma Limited (INCPF) delivered so far?
Over the past 5 years revenue at InnoCare Pharma Limited grew +341.9 % a year. The price currently implies +40.5 % 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 InnoCare Pharma Limited (INCPF) growing?
The median revenue growth in the sector is +5.1 % a year. That is the yardstick for the growth priced into InnoCare Pharma Limited (+40.5 % 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 InnoCare Pharma Limited (INCPF)?
The free-cash-flow yield on the price is 0.60 %: that much free cash flow InnoCare Pharma Limited produces per unit of market value. When it exceeds the discount rate of our models (8.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of InnoCare Pharma Limited (INCPF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For InnoCare Pharma Limited it is $1.29 per share (as of Sep 24, 2026), against a price of $1.85. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is InnoCare Pharma Limited stock overvalued or undervalued in 2026?
As of Sep 24, 2026, INCPF trades above its calculated fair value: price $1.85, fair value $1.29, a gap of about −30% (overvalued). 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 INCPF?
No. The price is what the market pays today ($1.85); the fair value is what the company's own numbers justify ($1.29). For InnoCare Pharma Limited the two are $0.5600 per share apart. That gap is exactly why we show both numbers side by side.
How much is InnoCare Pharma Limited worth?
The market values InnoCare Pharma Limited at about $3.3B (market capitalisation, as of Sep 24, 2026). Per share that is $1.85; our models calculate a fair value of $1.29 per share.
What do the bullish and bearish scenarios say about INCPF?
Our models span a range for InnoCare Pharma Limited: cautious scenario $1.00, base $1.29, optimistic $1.78 per share (as of Sep 24, 2026, price $1.85). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of INCPF?
InnoCare Pharma Limited trades at a price-to-earnings ratio of 25.8 (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 $1.29 is built from several models across several years. Other multiples: P/B 2.8, P/S 8.7, EV/EBITDA 25.2.
How solid is the balance sheet of InnoCare Pharma Limited (INCPF)?
Balance-sheet figures for InnoCare Pharma Limited (as of Sep 24, 2026): return on equity 10.4%, debt of 0.13 per unit of equity. They feed the Quality Score of 61/100, which measures business quality independently of the share price.
How far is INCPF from its 52-week high?
InnoCare Pharma Limited trades at $1.85, about 43% below its 52-week high of $3.26 and 19% above the low of $1.55 (as of Sep 29, 2026). Distance from the high says nothing about value: that is what the fair value of $1.29 is for.
Which stocks are comparable to InnoCare Pharma Limited?
From the same area (Healthcare) we also value Vertex Pharmaceuticals Incorporated, Regeneron Pharmaceuticals, Inc, argenx SE, CSL 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 InnoCare Pharma Limited stock attractive at the current price?
The data as of Sep 24, 2026: price $1.85, calculated fair value $1.29 (−30%), Quality Score 61/100, from 26 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 INCPF calculated?
We run InnoCare Pharma Limited through 26 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 $1.29, 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 14.5 % above its aggregate fair value. InnoCare Pharma Limited itself currently trades above fair value. 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 InnoCare Pharma Limited (INCPF)?
The closing price on Sep 29, 2026 was $1.85. Our model-based fair value is $1.29, about −30% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with InnoCare Pharma Limited right now?
The price sits above even our optimistic bull case ($1.78). The favourable scenario is already priced in. Solid but not exceptional quality (61/100) and above fair value, neither a clear bargain nor a standout compounder.
Key figures of InnoCare Pharma Limited
How large is the market capitalisation of InnoCare Pharma Limited (INCPF)?
The market capitalisation of InnoCare Pharma Limited is $3.3B. 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 InnoCare Pharma Limited (INCPF)?
The price-to-sales ratio of InnoCare Pharma Limited is 7.04 (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 InnoCare Pharma Limited (INCPF)?
Earnings per share at InnoCare Pharma Limited are $0.0600 (price ÷ EPS = P/E 25.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of InnoCare Pharma Limited (INCPF)?
The dividend yield of InnoCare Pharma Limited is 13.3%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of InnoCare Pharma Limited (INCPF)?
The net margin of InnoCare Pharma Limited is 27.2% (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 InnoCare Pharma Limited (INCPF)?
The return on equity (ROE) of InnoCare Pharma Limited is 10.4% (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 InnoCare Pharma Limited (INCPF)?
On an EBIT basis the return on assets of InnoCare Pharma Limited is −3.6% (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 InnoCare Pharma Limited (INCPF)?
The operating margin of InnoCare Pharma Limited is 14.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at InnoCare Pharma Limited (INCPF)?
Revenue at InnoCare Pharma Limited is growing +38.7% versus a year earlier (3y avg +54.3%). 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 InnoCare Pharma Limited (INCPF)?
Earnings per share at InnoCare Pharma Limited are growing +500% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does InnoCare Pharma Limited (INCPF) hold?
InnoCare Pharma Limited holds more cash than debt, 5.5B CNY net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Broad data
Sep 24, 2026