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WuXi XDC Cayman Inc (2268) Fair Value & Analysis

Healthcare · HK · Market cap HK$74.1B

WX WuXi XDC Cayman Inc 2268 · HK
PriceHK$63.35
Fair ValueHK$19.46
Upside-69.3%
Quality52/100
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Mixed Growth
Highly profitable · 24.9% net margin
Low debt · generates free cash flow
Mixed vs. peers (6/13)
Wide moat 78/100
Evidence: High Range HK$12.34 – HK$32.36 Share as image

Fair value as of: Aug 13, 2026

From 26 valuation models · updated today

Fair value updated Aug 13, 2026, revised from HK$21.42 to HK$19.46 (−9.2%) since Aug 5, 2026. Share price +8.3% over the past month.

A solid business, but screening 69% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (HK$32.36). The favourable scenario is already priced in.
  • The model range is unusually wide (HK$12.34 to HK$32.36). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Solid but not exceptional quality (52/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (3 years)

HK$85.10 HK$12.98 Fair Value HK$19.46 Nov 2023 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

33‑month range HK$12.98 – HK$85.10 · fair‑value band HK$12.34 – HK$32.36 · the HK$63.35 price screens above the HK$19.46 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

WuXi XDC Cayman Inc (2268) currently trades at HK$63.35, while our model-based Fair Value estimate is HK$19.46, implying the stock looks roughly 69.3% overvalued today. The Quality Score stands at 52/100 (solid quality), in the Healthcare sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, WuXi XDC Cayman Inc generated revenue of HK$5.9B at a net margin of 24.9%. Revenue grew 35.9% year over year. It earns a return on equity of 17.1%. The balance sheet holds a net cash position of HK$632M. Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$12.34 (bear case) to HK$32.36 (bull case); at HK$63.35, 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 26% below its 52-week high and 49% above its 52-week low, currently above its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -50% fair-value upside, at -69%, 2268 screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted 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.

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
Growth DCF HK$9.16 HK$17.01 HK$29.87 80
Residual Income HK$8.25 HK$10.85 HK$33.89 76
Rev-Margin DCF HK$8.17 HK$13.58 HK$24.93 74
All 26 models by family
DCF Models
FCF DCF HK$9.66 HK$14.52 HK$30.00 38
Owner Earnings HK$6.45 HK$13.16 HK$27.25 31
5Y Revenue Exit HK$7.51 HK$12.02 HK$21.45 39
5Y EBITDA Exit HK$11.49 HK$20.06 HK$36.89 41
5Y P/E Exit HK$14.82 HK$33.43 HK$59.09 38
10Y Revenue Exit HK$8.03 HK$15.94 HK$20.88 36
10Y EBITDA Exit HK$11.15 HK$24.50 HK$48.11 37
10Y P/E Exit HK$13.58 HK$31.67 HK$62.11 35
Earnings-Based
Graham-Dodd HK$7.99 HK$55.71 HK$78.17 54
Lynch FV HK$28.78 HK$41.11 HK$53.45 50
PEG = 1.0 HK$28.78 HK$41.11 HK$53.45 46
EPV HK$11.50 HK$13.22 HK$14.72 59
Dividend Discount
Gordon GGM HK$0.7900 HK$1.65 HK$2.61 70
DDM Multi-Stage HK$0.7900 HK$1.39 HK$1.73 61
Multiples
P/E Multiple HK$14.98 HK$19.97 HK$24.96 63
P/S Multiple HK$5.31 HK$7.07 HK$8.84 58
P/B Multiple HK$14.98 HK$19.97 HK$24.96 55
EV/EBIT HK$14.69 HK$19.19 HK$23.69 53
EV/EBITDA HK$11.75 HK$15.28 HK$18.80 54
EV/Revenue HK$6.14 HK$8.26 HK$10.38 43
Asset-Based
NCAV (Graham) HK$4.26 HK$5.70 HK$8.51 50
Growth DCF
Growth DCF HK$9.16 HK$17.01 HK$29.87 80
Rev-Margin DCF HK$8.17 HK$13.58 HK$24.93 74
Economic Profit
Residual Income HK$8.25 HK$10.85 HK$33.89 76
ROIC Compounder HK$14.76 HK$20.84 HK$25.89 72
Growth Earnings
Growth-Adj P/E HK$35.41 HK$50.58 HK$65.76 68

Widest divergence: Growth Earnings (HK$50.58) versus Dividend Discount (HK$1.39). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) HK$5.9B
Revenue growth (YoY) +35.9%
Net margin 24.9%
Return on equity 17.1%
Free cash flow HK$635M FY2025
P/E ratio 45.6 as of Jul 2, 2026
More key figures
Operating margin 26.3%
EPS (TTM) HK$0.5700
EPS growth (YoY) +22.3%
Net cash HK$632M FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 52/100

Of which business quality 53 · Market factors (momentum, volatility) 51

Profitability 54
Margins and returns on capital today
Quality Growth 57
Are margins and returns improving?
Cashflow 51
Earnings quality: real cash, not paper profit
Fin. Strength 86
Balance sheet, leverage, solvency risk
Investment 0
Disciplined investing over empire-building
Low Volatility 56
Calm price path (market factor)
Momentum 51
Price trend over the last 3–12 months (market factor)
52W Momentum 47
Distance to the 52-week high (market factor)
Net Issuance 46
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.

About the company

WuXi XDC Cayman Inc., an investment holding company, operates as a contract research, development, and manufacturing organization in China, North America, Europe, and internationally.

Full company description

WuXi XDC Cayman Inc., an investment holding company, operates as a contract research, development, and manufacturing organization in China, North America, Europe, and internationally. It engages in the discovery, research, development, and manufacture of the drug substances and drug products of antibody drug conjugates, bioconjugates, monoclonal antibody intermediates, and payload-linkers associated with bioconjugates. It also provides international sales contracting services. Additionally, the company engages in the research and development, manufacturing, and marketing of anti-tumor drugs. WuXi XDC Cayman Inc. has a strategic collaboration with Earendil Labs; and Akari Therapeutics. The company was founded in 2013 and is headquartered in Wuxi, China. WuXi XDC Cayman Inc. is a subsidiary of WuXi Biologics (Cayman) Inc. WuXi XDC Cayman Inc. operates as a subsidiary of WuXi Biologics (Cayman) Inc.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

WuXi XDC Cayman Inc reported revenue of HK$5.9B in FY2025 versus HK$311M in FY2021, a compound +109.1%/yr. Reported net income was HK$1.5B in FY2025, compounding +127.9%/yr from FY2021.

Growth Quality 77/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
HK$5.9B
Latest YoY
+46.7%
Avg. 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.
+81.7%
Avg. growth/yr (18Y) 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.
+18.8%
Revenue +109.1%/yr
FY21 HK$311M
FY22 HK$990M
FY23 HK$2.1B
FY24 HK$4.1B
FY25 HK$5.9B
Net income +127.9%/yr
FY21 HK$54.9M
FY22 HK$156M
FY23 HK$284M
FY24 HK$1.1B
FY25 HK$1.5B

2268 screens 69% overvalued. Compare with Thermo Fisher Scientific Inc →

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Cite: Fair Value Calculator (2026). "WuXi XDC Cayman Inc Fair Value". https://www.fairvalue-calculator.com/stock/2268

Earlier news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Diagnostics & Research · 135 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.

Quality Score 52 · Below median
Fair Value upside −69% · Bottom 25%
Return on equity (TTM) 17% · Top 25%
Return on assets 9% · Top 25%
Net margin (TTM) 25% · Top 25%
Operating margin (TTM) 26% · Top 25%
Revenue growth 36% · Top 25%
Debt / equity 0.00× · Lower than 75% of peers

Valuation Multiples vs Diagnostics & Research median · lower = cheaper

P/E (TTM) 45.6× · Pricier than median
P/B 6.91× · Pricier than 75% of peers
P/S (TTM) 12.47× · Pricier than 75% of peers
P/FCF 14.9× · Pricier than median
EV/EBITDA 41.1× · Pricier than 75% of peers

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 · sector 0
FUTURE 100 · sector 25
PAST 68 · sector 12
HEALTH 100 · sector 96
DIVIDEND 0 · sector 23

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.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Diagnostics & Research stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Thermo Fisher Scientific Inc TMO $603.01 $308.19 -49%
Danaher Corporation DHR $205.79 $103.88 -50%
WuXi AppTec Co 2359 HK$198.90 HK$157.39 -21%
Lonza Group LONN CHF 566.20 CHF 259.80 -54%
IDEXX Laboratories, Inc IDXX $570.58 $255.77 -55%
Agilent Technologies, Inc A $148.24 $61.53 -58%
Waters Corporation WAT $416.15 $121.96 -71%
IQVIA Holdings IQV $243.84 $132.17 -46%
Illumina, Inc ILMN $192.91 $95.51 -50%
Mettler-Toledo International Inc MTD $1,437 $615.78 -57%

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Frequently asked questions

Is WuXi XDC Cayman Inc (2268) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$19.46 versus a price of HK$63.35, about −69% (overvalued).
What is the fair value of 2268?
Our model-based fair value for WuXi XDC Cayman Inc is HK$19.46 (as of Aug 13, 2026), built from audited fundamentals. The current price is HK$63.35.
What is the quality score of 2268?
WuXi XDC Cayman Inc has a Quality Score of 52/100. 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 revenue of WuXi XDC Cayman Inc (2268)?
WuXi XDC Cayman Inc reported trailing-twelve-month revenue of about HK$5.9B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 2268?
The net profit margin of WuXi XDC Cayman Inc is about 24.9%, meaning it keeps roughly 24.9% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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