Innovent Biologics Inc (1801) Fair Value & Analysis
Healthcare · HK · Market cap HK$148B (≈ $18.9B) · ISIN KYG4818G1010
What is Innovent Biologics Inc really worth?
Structural break: The valuation model sees a lasting decline in earnings power for this stock, the confidence band is broken. Treat the target with caution.
A solid business, but trading 419% above our fair value of HK$19.72.
Strengths
Risks
Fair value as of: Aug 22, 2026
From 23 valuation models · updated 14 days ago
Fair value updated Aug 22, 2026, revised from HK$19.68 to HK$19.72 (+0.2%) since Aug 13, 2026. Share price +13.4% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits above even our optimistic bull case (HK$22.27). The favourable scenario is already priced in.
- The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
- Solid but not exceptional quality (50/100) and above fair value, neither a clear bargain nor a standout compounder.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 22, 2026.
How to read this chart
60‑month range HK$18.64 – HK$109.80 · fair‑value band HK$16.46 – HK$22.27 · the HK$102.40 price screens above the HK$19.72 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 22, 2026.
Analysis
Innovent Biologics Inc (1801) currently trades at HK$102.40, while our model-based Fair Value estimate is HK$19.72, implying the stock looks roughly 419.2% overvalued today. The Quality Score stands at 50/100 (solid quality), in the Healthcare sector. Bull case: the Growth DCF group reads highest at a median of HK$177.64 per share, and 2 of the 23 models we run sit above the HK$102.40 price. Bear case: the Asset-Based group reads lowest at HK$7.48, and 21 of the 23 models stay below the price. Evidence for this calculation is low.
Over the trailing twelve months, Innovent Biologics Inc generated revenue of HK$13.0B at a net margin of 6.2%. Revenue grew 29.6% year over year. It earns a return on equity of 5.0%. The balance sheet holds a net cash position of HK$14.5B. Fundamentals as of Aug 22, 2026
Our scenario range runs from HK$16.46 (bear case) to HK$22.27 (bull case); at HK$102.40, the current price sits above 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 last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat. The share trades about 6% below its 52-week high and 47% above its 52-week low, currently above its 200-day average. For context, the median of 10 Healthcare peers we cover trades at −59% fair-value upside, at −81%, 1801 screens richer than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly HK$0.3316 per share, which is 1.7 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.
All 23 models by family
Widest divergence: Growth DCF (HK$177.64) versus Asset-Based (HK$7.48). Highest evidence: 5Y EBITDA Exit (74).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 22, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 58 · Market factors (momentum, volatility) 63
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
Innovent Biologics, Inc., a biopharmaceutical company, engages in the research and development of antibody and protein medicine products in the People's Republic of China, the United States, Europe, and internationally.
Full company description
Innovent Biologics, Inc., a biopharmaceutical company, engages in the research and development of antibody and protein medicine products in the People's Republic of China, the United States, Europe, and internationally. The company discovers, develops, manufactures, and commercializes monoclonal antibodies and other drugs for the treatment of oncology, ophthalmology, autoimmune, cardiovascular, and metabolic diseases. Its commercial stage product portfolio includes TYVYT (sintilimab injection), BYVASDA (bevacizumab injection), SULINNO (adalimumab injection), HALPRYZA (rituximab injection), PEMAZYRE (pemigatinib), olverembatinib, Cyramza (ramucirumab), Retsevmo (selpercatinib), FUCASO (Equecabtagene Autoleucel), SINTBILO (tafolecimab injection), DUPERT (fulzerasib), DOVBLERON (taletrectinib adipate), Jaypirca (pirtobrutinib), limertinib, SYCUME (teprotumumab N01 injection), mazdutide, PECONDLE (picankibart injection), and TABOSUN(Ipilimumab N01 injection). In addition, it sells and distributes pharmaceutical products; and offers consultation and research and development services. The company was incorporated in 2011 and is headquartered in Suzhou, the People's Republic of China.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Innovent Biologics Inc reported revenue of 13.0B CNY in FY2025 versus 4.3B CNY in FY2021, a compound +32.2%/yr. Reported net income was 814M CNY in FY2025.
1801 screens 419% overvalued. Compare with Vertex Pharmaceuticals Incorporated →
Earlier news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Innovent Announces 2026 Interim Results and Business Updates
- Innovent Biologics and Daiichi Sankyo Enter Exclusive Agreement for VANFLYTA® Commercialization in China
- Innovent Announces First Patient Dosed in Pivotal Registrational Study of IBI363/TAK-928 (PD-1/IL-2α-biased Bispecific Fusion Protein) in Co
Peer Group
Biotechnology · 623 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 Multiples vs Biotechnology median · lower = cheaper
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.
VALUE 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Biotechnology stocks, each showing price versus our Fair Value estimate (as of Aug 22, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Vertex Pharmaceuticals Incorporated VRTX | $547.55 | $278.78 | −49% |
| Regeneron Pharmaceuticals, Inc REGN | $807.71 | $594.40 | −26% |
| argenx SE ARGX | €877.60 | €292.84 | −67% |
| Samsung Biologics Co 207940 | 1,518,000 KRW | 1,055,793 KRW | −30% |
| CSL Limited CSL | A$174.50 | A$141.68 | −19% |
| Alnylam Pharmaceuticals, Inc ALNY | $228.61 | $51.70 | −77% |
| Royalty Pharma plc RPRX | $60.58 | $24.22 | −60% |
| Celltrion, Inc 068270 | 190,700 KRW | 74,519 KRW | −61% |
| BeOne Medicines AG ONC | $362.51 | $111.35 | −69% |
| BioNTech SE BNTX | $111.40 | $45.66 | −59% |
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