Santen Pharmaceutical Co. Ltd (SNPHF) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Santen Pharmaceutical Co. Ltd $14.69, price $13.05, upside +12.6%, quality 74 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 $5.67 – $17.38 · fair‑value band $10.51 – $20.25 · the $13.05 price screens below the $14.69 fair value. Dashed = 300-day average. As of Sep 24, 2026.
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Santen Pharmaceutical Co., Ltd. engages in the research and development, manufacturing, and marketing of pharmaceuticals and medical devices in Japan, China, Asia, Europe, the Middle East, Africa, and internationally.
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Santen Pharmaceutical Co., Ltd. engages in the research and development, manufacturing, and marketing of pharmaceuticals and medical devices in Japan, China, Asia, Europe, the Middle East, Africa, and internationally. Its product portfolio includes tafluprost/timolol maleate, a prostaglandin F2a derivative and a beta-adrenergic receptor blocker for the treatment of glaucoma and ocular hypertension; ciclosporin, an ophthalmic emulsion for the treatment of vernal keratoconjunctivitis, as well as latanoprost, an ophthalmic emulsion of a prostaglandin F2a derivative filed for marketing approval for the treatment of glaucoma and ocular hypertension; and epinastine hydrochloride, a histamine H1 receptor antagonist filed for marketing approval to treat allergic conjunctivitis. The company also offers netarsudil mesylate/latanoprost, a fixed dose combination drug of a ROCK inhibitor and a prostaglandin F2a derivative which is in phase III clinical trial for the treatment of glaucoma and ocular hypertension; and sepetaprost, a prostaglandin analogue eye drop drug that is in phase III clinical trials for the treatment of glaucoma and ocular hypertension. In addition, it develops oxymetazoline hydrochloride, a direct-acting alpha adrenergic receptor agonist which is in phase III clinical trial for treatment of ptosis; and omidenepag isopropyl, an EP2 receptor agonist that is in phase III clinical trial for the treatment of glaucoma and ocular hypertension. Further, the company offers atropine sulfate, a non-selective muscarinic antagonist that is in phase II/III clinical trials for the treatment of juvenile myopia; olodaterol hydrochloride, a ß2 receptor agonist that has completed phase 1/2a clinical trial for the treatment of a dry eye; and sirolimus, an ophthalmic suspension which is in phase 2a clinical trial for the treatment of fuchs endothelial corneal dystrophy and meibomian gland dysfunction. The company was founded in 1890 and is headquartered in Osaka, Japan.
Stock analysis
Santen Pharmaceutical Co. Ltd (SNPHF) currently trades at $13.05, while our model-based Fair Value estimate is $14.69, implying the stock looks roughly 11.2% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of $16.36 per share, and 18 of the 24 models we run sit above the $13.05 price.
Bear case: the Earnings-Based group reads lowest at $4.00, and 6 of the 24 models stay below the price. Evidence for this calculation is high.
Scenario range: $10.51 (bear) to $20.25 (bull), the price of $13.05 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 74/100 (solid quality), in the Healthcare sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Santen Pharmaceutical Co. Ltd reported revenue of ¥293B in FY2026 versus ¥266B in FY2022, a compound +2.5%/yr. Reported net income was ¥37.6B in FY2026, compounding +8.4%/yr from FY2022.
Key figures
Market cap $4.3B · P/E ratio 18.4 · P/S ratio 2.36 · EPS (TTM) $0.7100 · Dividend yield 2.4% · Net margin 12.8% · Return on equity 12.9% · Return on assets (EBIT) 7.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (low confidence).
What moves the price
The share trades at its 52-week high and 39% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at −2% fair-value upside, at 13%, SNPHF screens cheaper than that median.
Fair Value models
Bear $10.51Fair Value $14.69Bull $20.25
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.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.69/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−2.2%
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.
+1.7%
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.
+3.3%
Start year 2021 (pandemic). Over 10 years: +4.2% a year
Revenue growth 21 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.
+5.6%
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What shareholders gained per year (last 5 years), in JPY ⓘ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. 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.
+16.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+14.2%
Dividend (yield on the price)2.4%
Pace: 5 vs 10 years ⓘ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.14% vs 7%, picking up
Profit margin 2021 to 2026 ⓘ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.15% → 16%
Start year 2021 (pandemic)
Growth Forecast
Price in line with expectations
The price assumes about as much growth as the company has delivered so far and about what 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).
+2.6%
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.
+3.1%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in JPY, Japan: IMF forecast 2.1% a year to 2030, 1.3% from 2016 to 2025) that is about +0.5% a year for the price and +0.9% for the forecasts.
Compare Santen Pharmaceutical Co. Ltd with another stock
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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 - General · 73 stocks
Beats the industry median on 11/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score74 · Top 25%
Fair Value upside+13% · Above median
Profitability
Return on equity (TTM)13% · Above median
Return on assets7% · Above median
Net margin (TTM)13% · Below median
Operating margin (TTM)24% · Above median
Growth and dividend
Revenue growth5% · Below median
Dividend yield (TTM)2.4% · Above median
Valuation Multiplesvs Drug Manufacturers - General median · lower = cheaper
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Is Santen Pharmaceutical Co. Ltd (SNPHF) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of $14.69 versus a price of $13.05, about +13% upside (undervalued).
What is the fair value of SNPHF?
Our model-based fair value for Santen Pharmaceutical Co. Ltd is $14.69 (as of Sep 24, 2026), built from audited fundamentals. The current price: $13.05.
What is the quality score of SNPHF?
Santen Pharmaceutical Co. Ltd has a Quality Score of 74/100. 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 Santen Pharmaceutical Co. Ltd (SNPHF)?
Our model-based price target is the fair value of $14.69 (as of Sep 24, 2026) from 24 valuation models. Cautious scenario $10.51, optimistic scenario $20.25. It is a calculation from audited fundamentals, not an analyst target.
What is the Santen Pharmaceutical Co. Ltd stock forecast for 2026?
Our models put fair value at $14.69, about +13% upside versus a price of $13.05 (undervalued). Cautious scenario $10.51, optimistic scenario $20.25. The calculation is refreshed regularly with new filings.
What is the revenue of Santen Pharmaceutical Co. Ltd (SNPHF)?
Santen Pharmaceutical Co. Ltd reported trailing-twelve-month revenue of about ¥292B (latest available figure, as of Sep 24, 2026).
Does Santen Pharmaceutical Co. Ltd pay a dividend?
Santen Pharmaceutical Co. Ltd currently shows a dividend yield of about 2.44% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Santen Pharmaceutical Co. Ltd (SNPHF)?
For today's price to be fair in a discounted-cash-flow model, Santen Pharmaceutical Co. Ltd would have to grow free cash flow by +2.6 % 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 +3.3 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of SNPHF use?
Our models discount Santen Pharmaceutical Co. Ltd at 8.5 %: a base by market capitalisation (mid), damped by beta 0.25, 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 Santen Pharmaceutical Co. Ltd that is +2.6 % 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 Santen Pharmaceutical Co. Ltd (SNPHF) delivered so far?
Over the past 5 years revenue at Santen Pharmaceutical Co. Ltd grew +3.3 % a year. The price currently implies +2.6 % 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 Santen Pharmaceutical Co. Ltd (SNPHF) growing?
The median revenue growth in the sector is +4.1 % a year. That is the yardstick for the growth priced into Santen Pharmaceutical Co. Ltd (+2.6 % 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 Santen Pharmaceutical Co. Ltd (SNPHF)?
The free-cash-flow yield on the price is 5.43 %: that much free cash flow Santen Pharmaceutical Co. Ltd 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 Santen Pharmaceutical Co. Ltd (SNPHF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Santen Pharmaceutical Co. Ltd it is $14.69 per share (as of Sep 24, 2026), against a price of $13.05. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Santen Pharmaceutical Co. Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, SNPHF trades below its calculated fair value: price $13.05, fair value $14.69, a gap of about +13% (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 SNPHF?
No. The price is what the market pays today ($13.05); the fair value is what the company's own numbers justify ($14.69). For Santen Pharmaceutical Co. Ltd the two are $1.64 per share apart. That gap is exactly why we show both numbers side by side.
How much is Santen Pharmaceutical Co. Ltd worth?
The market values Santen Pharmaceutical Co. Ltd at about $4.3B (market capitalisation, as of Sep 24, 2026). Per share that is $13.05; our models calculate a fair value of $14.69 per share.
What do the bullish and bearish scenarios say about SNPHF?
Our models span a range for Santen Pharmaceutical Co. Ltd: cautious scenario $10.51, base $14.69, optimistic $20.25 per share (as of Sep 24, 2026, price $13.05). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of SNPHF?
Santen Pharmaceutical Co. Ltd trades at a price-to-earnings ratio of 18.4 (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 $14.69 is built from several models across several years. Other multiples: P/B 2.3, P/S 2.3, EV/EBITDA 9.1.
How solid is the balance sheet of Santen Pharmaceutical Co. Ltd (SNPHF)?
Balance-sheet figures for Santen Pharmaceutical Co. Ltd (as of Sep 24, 2026): return on equity 12.9%. They feed the Quality Score of 74/100, which measures business quality independently of the share price.
How far is SNPHF from its 52-week high?
Santen Pharmaceutical Co. Ltd trades at $13.05, at its 52-week high of $13.05 and 39% above the low of $9.41 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of $14.69 is for.
Which stocks are comparable to Santen Pharmaceutical Co. Ltd?
From the same area (Healthcare) we also value Eli Lilly and Company, Johnson & Johnson,, AbbVie Inc, Roche Holding, 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 Santen Pharmaceutical Co. Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price $13.05, calculated fair value $14.69 (+13%), Quality Score 74/100, 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 SNPHF calculated?
We run Santen Pharmaceutical 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 $14.69, 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 14.1 % above its aggregate fair value. Santen Pharmaceutical Co. Ltd currently trades 13 % 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 Santen Pharmaceutical Co. Ltd (SNPHF)?
The closing price on Sep 23, 2026 was $13.05. Our model-based fair value is $14.69, about +13% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Santen Pharmaceutical Co. Ltd right now?
A fairly wide model range ($10.51 to $20.25) leaves room in how you read the outcome. The price sits in the lower half of our model range, the side with the larger margin of safety. The data supports the verdict: every model runs on fully documented inputs.
Where does the earnings growth of Santen Pharmaceutical Co. Ltd (SNPHF) come from?
Earnings per share at Santen Pharmaceutical Co. Ltd grew +2.1 % a year from 2015 to 2026. Broken into its drivers: revenue per share +7.5 %, EBIT margin −6.4 %, tax rate +1.9 %, residual (interest, one-offs) −0.3 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Santen Pharmaceutical Co. Ltd
How large is the market capitalisation of Santen Pharmaceutical Co. Ltd (SNPHF)?
The market capitalisation of Santen Pharmaceutical Co. Ltd is $4.3B. 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 Santen Pharmaceutical Co. Ltd (SNPHF)?
The price-to-sales ratio of Santen Pharmaceutical Co. Ltd is 2.36 (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 Santen Pharmaceutical Co. Ltd (SNPHF)?
Earnings per share at Santen Pharmaceutical Co. Ltd are $0.7100 (price ÷ EPS = P/E 18.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Santen Pharmaceutical Co. Ltd (SNPHF)?
The dividend yield of Santen Pharmaceutical Co. Ltd is 2.4% (payout 44.8%). 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 Santen Pharmaceutical Co. Ltd (SNPHF)?
The net margin of Santen Pharmaceutical Co. Ltd is 12.8% (fiscal year 2026). 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 Santen Pharmaceutical Co. Ltd (SNPHF)?
The return on equity (ROE) of Santen Pharmaceutical Co. Ltd is 12.9% (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 Santen Pharmaceutical Co. Ltd (SNPHF)?
On an EBIT basis the return on assets of Santen Pharmaceutical Co. Ltd is 7.6% (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 Santen Pharmaceutical Co. Ltd (SNPHF)?
The operating margin of Santen Pharmaceutical Co. Ltd is 24.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Santen Pharmaceutical Co. Ltd (SNPHF)?
Revenue at Santen Pharmaceutical Co. Ltd is growing +4.7% versus a year earlier (3y avg +1.7%). 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 Santen Pharmaceutical Co. Ltd (SNPHF)?
Earnings per share at Santen Pharmaceutical Co. Ltd are growing +87.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Santen Pharmaceutical Co. Ltd (SNPHF) hold?
Santen Pharmaceutical Co. Ltd holds more cash than debt, ¥81.4B net (fiscal year 2026). The company holds more cash than debt, a safety cushion.
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Broad data
Sep 24, 2026