Jiangsu Hengrui Medicine Co Ltd (600276) Fair Value & Analysis
Healthcare · CN · Market cap 353B CNY (≈ $52.7B) · ISIN CNE0000014W7
What is Jiangsu Hengrui Medicine Co Ltd really worth?
A solid business, but trading 77% above our fair value of ¥25.94.
Strengths
Risks
For context
Fair value as of: Aug 14, 2026
From 26 valuation models · updated 22 days ago
Share price −14.0% 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 (¥32.81). The favourable scenario is already priced in.
- Solid but not exceptional quality (66/100) 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 14, 2026.
How to read this chart
60‑month range ¥27.53 – ¥77.39 · fair‑value band ¥19.95 – ¥32.81 · the ¥46.02 price screens above the ¥25.94 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 14, 2026.
Analysis
Jiangsu Hengrui Medicine Co Ltd (600276) currently trades at ¥46.02, while our model-based Fair Value estimate is ¥25.94, implying the stock looks roughly 77.4% overvalued today. The Quality Score stands at 66/100 (solid quality), in the Healthcare sector. Bull case: the DCF Models group reads highest at a median of ¥37.07 per share, and 2 of the 26 models we run sit above the ¥46.02 price. Bear case: the Dividend Discount group reads lowest at ¥3.44, and 24 of the 26 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Jiangsu Hengrui Medicine Co Ltd generated revenue of 32.6B CNY at a net margin of 24.9%. Revenue grew 13.0% year over year. It earns a return on equity of 14.5%. The balance sheet holds a net cash position of 40.0B CNY. Fundamentals as of Aug 14, 2026
Our scenario range runs from ¥19.95 (bear case) to ¥32.81 (bull case); at ¥46.02, 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 share trades about 38% below its 52-week high, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at −45% fair-value upside, at −44%, 600276 screens cheaper 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 ¥0.6902 per share, which is 2.7 % 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 26 models by family
Widest divergence: DCF Models (¥37.07) versus Dividend Discount (¥3.44). Highest evidence: FCF DCF (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 14, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 68 · Market factors (momentum, volatility) 36
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
Jiangsu Hengrui Pharmaceuticals Co.,Ltd, a pharmaceutical company, researches, develops, manufactures, and commercializes medicines to address unmet clinical needs in China and internationally.
Full company description
Jiangsu Hengrui Pharmaceuticals Co.,Ltd, a pharmaceutical company, researches, develops, manufactures, and commercializes medicines to address unmet clinical needs in China and internationally. The company develops medicines in the areas of oncology, metabolic and cardiovascular, immunological and respiratory, neuroscience, pain management, infectious, respiratory system, hematological, ophthalmology, and autoimmune and other diseases. The company was founded in 1970 and is headquartered in Lianyungang, China.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Jiangsu Hengrui Medicine Co Ltd reported revenue of 31.4B CNY in FY2025 versus 25.9B CNY in FY2021, a compound +5.0%/yr. Reported net income was 7.7B CNY in FY2025, compounding +14.2%/yr from FY2021.
of which total revenue +12.8 % · buybacks/dilution −0.1 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
600276 screens 77% overvalued. Compare with Merck KGaA →
Peer Group
Drug Manufacturers - Specialty & Generic · 608 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 Drug Manufacturers - Specialty & Generic 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.
Insider activity: 45/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Drug Manufacturers - Specialty & Generic stocks, each showing price versus our Fair Value estimate (as of Aug 14, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Merck KGaA MRK | €140.25 | €106.48 | −24% |
| Takeda Pharmaceutical Company TAK | $18.03 | $11.11 | −38% |
| Sun Pharmaceutical Industries Limited SUNPHARMA | ₹1,944 | ₹989.50 | −49% |
| Galderma Group GALD | CHF 178.55 | CHF 55.07 | −69% |
| Haleon plc HLN | $10.11 | $7.64 | −24% |
| Teva Pharmaceutical Industries Limited TEVA | $36.05 | $15.33 | −57% |
| Sandoz Group SDZ | CHF 70.66 | CHF 39.21 | −45% |
| Zoetis Inc ZTS | $77.10 | $104.88 | +36% |
| Hansoh Pharmaceutical Group 3692 | HK$35.12 | HK$16.18 | −54% |
| Divi's Laboratories Limited DIVISLAB | ₹8,525 | ₹1,228 | −86% |
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