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So-Young International Inc (SY) fair value: what the stock is really worth

As of Oct 30, 2026: fair value (intrinsic value) of So-Young International Inc stock $0.69, price $2.00, upside -65.5%, quality 41 out of 100. Rating: strongly overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

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Healthcare US · Based in China

SY So-Young International Inc logo Thin data Oct 30, 2026

So-Young International Inc

SY · US
Very expensive, weak quality

Our calculation puts a fair price 66% below what the stock costs today.

Low debt
Revenue last quarter +46% vs. a year ago.
Quality 41/100
Expensive Growth (revenue 5y +2.7 %/yr in CNY)
Fair value $0.6900 · Strongly overvalued (−65.5%)
Loss-making · -15.6% net margin (TTM)
Negative free cash flow
Trails peers (4/11)
Narrow moat 5/100 · thin data
Thin data
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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

Price vs Fair Value

$6.82 $0.4672 Fair Value $0.6900 Jul 2021 Oct 2026

White line = price, green steps = our fair value per fiscal year. As of Oct 30, 2026.

How to read this chart

60‑month range $0.4672 – $6.82 · fair‑value band $0.4500 – $0.8600 · the $2.00 price screens above the $0.6900 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Oct 30, 2026.

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Company profile

So-Young International Inc. operates an online platform for consumption healthcare services in the People's Republic of China.

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The company offers So-Young Mobile App that offers users access to medical aesthetic knowledge, community support and reservation options for treatment with medical professionals, and medical aesthetic institutions; Weixin mini program to explore treatment options, check prices, schedule appointments, participate in online consultations, and track follow-ups; and medical aesthetic community content through its website soyoung.com.

Its aesthetic centers offer non-invasive to minimally invasive procedures, including device-based options, such as thread lifts, intense pulsed light, ultrasound facelifts, picosecond lasers, and body contouring treatments, as well as injectable treatments, including skin boosters, hyaluronic acid-based products, botox, and type I and type III collagen.

In addition, the company engages in the research and development, production, sale, and distribution of light therapy devices, including excimer laser systems, UV excimer therapy devices, LED and red-light therapy systems, and advanced laser and intense pulsed light technologies; surgical laser devices, including carbon dioxide laser machines, multi-wavelength and semiconductor laser systems for urological treatments, and hydrodynamic-assisted liposuction systems for plastic surgery, as well as pneumatic liquid spray devices skin cleansing.

Further, it offers injectable products; sales and technical, maintenance, installation, operational training, error reporting, maintenance, and equipment packaging services; consumption healthcare services, including dermatology, dentistry and orthodontics, physical examinations, gynecology, and postnatal care; reservation services; and content management through beauty diaries, short-form videos, treatment reviews, featured articles, and chat messages.

The company was founded in 2013 and is headquartered in Beijing, China.

Stock analysis

So-Young International Inc (SY) currently trades at $2.00, while our model-based Fair Value estimate is $0.6900, 65.5% below the price, so the stock looks overvalued today.

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Valuation

How firm this estimate is: it rests on 1 models at a data quality of 90/100, which puts the data coverage at low.

Scenario range: $0.4500 (bear) to $0.8600 (bull), the price of $2.00 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 41/100 (below-average quality), in the Healthcare sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

So-Young International Inc reported revenue of 1.5B CNY in FY2025 versus 1.7B CNY in FY2021, a compound −3.3%/yr. Reported net income was −236M CNY in FY2025.

Key figures

Market cap $263M Micro · P/S ratio 0.12 · EPS (TTM) $−0.3300 · Dividend yield 1.4% · Net margin −15.9% · Return on equity −15.0% · Return on assets (EBIT) −7.7% · Operating margin −13.4%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 5 out of 100 (low confidence).

What moves the price

The share trades about 55% below its 52-week high and 52% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Healthcare peers we cover trades at 4% fair-value upside, at −66%, SY screens richer than that median.

Fair Value models

Bear $0.4500 Fair Value $0.6900 Bull $0.8600
Price $2.00 · Upside -65.5%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. 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. Coverage ⓘCoverage = 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.
Best data coverage
NCAV (Graham) $0.4500 $0.6900 $0.8600 54
All 1 models by family
Asset-Based
NCAV (Graham) $0.4500 $0.6900 $0.8600 54

Open the full fair value analysis →

Quality Score breakdown

Overall quality 41/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 17
How much profit the company makes from its sales and capital
Quality Growth 36
Are margins and returns getting better?
Cashflow 0
Do the profits arrive as real cash?
Financial strength 62
Debt, balance sheet and risk of trouble
Investment 79
Does it invest with discipline instead of growing at any price?
Low Volatility 0
How calm the share price moves, does not count
Momentum 28
Price trend of the last 3 to 12 months, does not count
Near the 52-week high 11
Distance to the 52-week high, does not count
New shares 83
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

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. 17/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+1.0%
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.
+5.6%
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.
+2.7%
Start year 2020 (pandemic)
Revenue growth 9 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.
+46.0%
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.
−4.4% (2020) → −17.5% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

SY screens overvalued: fair value 66% below the price. Compare with Veeva Systems Inc →

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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.Health Information Services · 123 stocks

Beats the industry median on 3/9 measures
Overall it trails its industry peers.
Valuation
Quality Score 41 · Bottom 25%
Fair Value upside −65.7% · Bottom 25%
Profitability
Return on assets −8.9% · Below median
Net margin (12 months) −15.6% · Below median
Operating margin (12 months) −13.4% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) 45.6% · Top 25%
Dividend yield (12 months) 1.4% · Below median

Valuation Multiplesvs Health Information Services median · lower = cheaper

P/B 1.13× · Cheapest 25%
P/S (12 months) 1.06× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 4
FUTURE (revenue growth)100 · sector 40
PAST (return on equity)0 · sector 9
HEALTH (low debt)100 · sector 98
DIVIDEND (yield)28 · sector 38

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

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 Health Information Services stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Veeva Systems Inc VEEV $310.34 $341.37 +10% vs SY
HealthEquity, Inc HQY $101.36 $111.50 +10% vs SY
Doximity, Inc DOCS $34.25 $37.68 +10% vs SY
Inventurus Knowledge Solutions Limited IKS ₹1,703 ₹1,873 +10% vs SY
Waystar Holding WAY $28.02 $29.10 +4% vs SY
Winning Health Technology Group 300253 ¥7.10 ¥3.44 −52% vs SY
Hinge Health, Inc HNGE $113.90 $51.25 −55% vs SY
BrightSpring Health Services, Inc BTSG $58.36 $25.86 −56% vs SY
Pro Medicus Limited PME A$196.00 A$85.12 −57% vs SY
Privia Health Group PRVA $22.00 $5.52 −75% vs SY

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So-Young International Inc · Fair Value
$0.6900 −66%Fair Value
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Cite: Fair Value Calculator (2026). "So-Young International Inc Fair Value". https://www.fairvalue-calculator.com/stock/SY

Frequently asked questions

Is So-Young International Inc (SY) overvalued or undervalued?
As of Oct 30, 2026, our model estimates a fair value of $0.6900 versus a price of $2.00, about −66% upside (overvalued).
What is the fair value of SY?
Our model-based fair value for So-Young International Inc is $0.6900 (as of Oct 30, 2026), built from audited fundamentals. The current price: $2.00.
What is the quality score of SY?
So-Young International Inc has a Quality Score of 41/100. 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 So-Young International Inc (SY)?
Our model-based price target is the fair value of $0.6900 (as of Oct 30, 2026) from 1 valuation models. Cautious scenario $0.4500, optimistic scenario $0.8600. It is a calculation from audited fundamentals, not an analyst target.
What is the So-Young International Inc stock forecast for 2026?
Our models put fair value at $0.6900, about −66% upside versus a price of $2.00 (overvalued). Cautious scenario $0.4500, optimistic scenario $0.8600. The calculation is refreshed regularly with new filings.
What is the revenue of So-Young International Inc (SY)?
So-Young International Inc reported trailing-twelve-month revenue of about 1.7B CNY (latest available figure, as of Oct 30, 2026).
Does So-Young International Inc pay a dividend?
So-Young International Inc currently shows a dividend yield of 1.41% relative to its recent price (as of Oct 30, 2026).
What is the intrinsic value of So-Young International Inc (SY)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For So-Young International Inc it is $0.6900 per share (as of Oct 30, 2026), against a price of $2.00. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is So-Young International Inc stock overvalued or undervalued in 2026?
As of Oct 30, 2026, SY trades above its calculated fair value: price $2.00, fair value $0.6900, a gap of about −66% (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 SY?
No. The price is what the market pays today ($2.00); the fair value is what the company's own numbers justify ($0.6900). For So-Young International Inc the two are $1.31 per share apart. That gap is exactly why we show both numbers side by side.
How much is So-Young International Inc worth?
The market values So-Young International Inc at about $263M (market capitalisation, as of Oct 30, 2026). Per share that is $2.00; our models calculate a fair value of $0.6900 per share.
What do the bullish and bearish scenarios say about SY?
Our models span a range for So-Young International Inc: cautious scenario $0.4500, base $0.6900, optimistic $0.8600 per share (as of Oct 30, 2026, price $2.00). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of So-Young International Inc (SY)?
Balance-sheet figures for So-Young International Inc (as of Oct 30, 2026): return on equity −15.0%. They feed the Quality Score of 41/100, which measures business quality independently of the share price.
How far is SY from its 52-week high?
So-Young International Inc trades at $2.00, about 55% below its 52-week high of $4.47 and 52% above the low of $1.32 (as of Oct 30, 2026). Distance from the high says nothing about value: that is what the fair value of $0.6900 is for.
Which stocks are comparable to So-Young International Inc?
From the same area (Healthcare) we also value Veeva Systems Inc, Pro Medicus Limited, BrightSpring Health Services, Inc, Hinge Health, Inc, 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 So-Young International Inc stock attractive at the current price?
The data as of Oct 30, 2026: price $2.00, calculated fair value $0.6900 (−66%), Quality Score 41/100, from 1 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 SY calculated?
We run So-Young International Inc through 1 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 $0.6900, 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 13.4 % above its aggregate fair value. So-Young International Inc 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 So-Young International Inc (SY)?
The closing price on Oct 30, 2026 was $2.00. Our model-based fair value is $0.6900, about −66% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with So-Young International Inc right now?
The price sits above even our optimistic bull case ($0.8600). The favourable scenario is already priced in. Weak quality (41/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range ($0.4500 to $0.8600) leaves room in how you read the outcome.

Key figures of So-Young International Inc

How large is the market capitalisation of So-Young International Inc (SY)?
The market capitalisation of So-Young International Inc is $263M. 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 So-Young International Inc (SY)?
The price-to-sales ratio of So-Young International Inc is 0.12 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of So-Young International Inc (SY)?
Earnings per share at So-Young International Inc are $−0.3300. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of So-Young International Inc (SY)?
The dividend yield of So-Young International Inc is 1.4%. 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 So-Young International Inc (SY)?
The net margin of So-Young International Inc is −15.9% (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 So-Young International Inc (SY)?
The return on equity (ROE) of So-Young International Inc is −15.0% (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 So-Young International Inc (SY)?
On an EBIT basis the return on assets of So-Young International Inc is −7.7% (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 So-Young International Inc (SY)?
The operating margin of So-Young International Inc is −13.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at So-Young International Inc (SY)?
Revenue at So-Young International Inc is growing +45.6% versus a year earlier (3y avg +5.6%). 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 So-Young International Inc (SY)?
Earnings per share at So-Young International Inc are growing +7.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does So-Young International Inc (SY) generate?
The free cash flow of So-Young International Inc is −302M CNY (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does So-Young International Inc (SY) hold?
So-Young International Inc holds more cash than debt, 183M CNY net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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