Guangzhou Baiyunshan Pharmaceutical Holdings Co Ltd (600332) Fair Value & Analysis
Healthcare · CN · Market cap 34.8B CNY (≈ $5.2B) · ISIN CNE000001733
What is Guangzhou Baiyunshan Pharmaceutical Holdings Co Ltd really worth?
A solid business, trading 37% below our fair value of ¥32.21.
Risks
For context
Fair value as of: Aug 19, 2026
From 17 valuation models · updated 17 days ago
Fair value updated Aug 19, 2026, revised from ¥28.65 to ¥32.21 (+12.4%) since Aug 13, 2026. Share price −5.8% over the past month.
What runs behind every stock
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What matters now
- The price is below even our cautious bear case (¥25.43). The market is more pessimistic than our downside scenario.
- Solid quality (51/100) at a price below fair value, the discount is the argument here, not the business quality.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 19, 2026.
How to read this chart
60‑month range ¥19.77 – ¥35.92 · fair‑value band ¥25.43 – ¥39.50 · the ¥20.24 price screens below the ¥32.21 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 19, 2026.
Analysis
Guangzhou Baiyunshan Pharmaceutical Holdings Co Ltd (600332) currently trades at ¥20.24, while our model-based Fair Value estimate is ¥32.21, implying the stock looks roughly 37.2% undervalued today. The Quality Score stands at 51/100 (solid quality), in the Healthcare sector. Bull case: the DCF Models group reads highest at a median of ¥55.25 per share, and 14 of the 17 models we run sit above the ¥20.24 price. Bear case: the Dividend Discount group reads lowest at ¥14.89, and 3 of the 17 models stay below the price. Evidence for this calculation is medium.
Over the trailing twelve months, Guangzhou Baiyunshan Pharmaceutical Holdings Co Ltd generated revenue of 78.5B CNY at a net margin of 3.8%. Revenue grew 3.6% year over year. It earns a return on equity of 7.4%. Net debt stands at 5.7B CNY. Fundamentals as of Aug 19, 2026
Our scenario range runs from ¥25.43 (bear case) to ¥39.50 (bull case); at ¥20.24, the current price sits below 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 27% below its 52-week high, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at −10% fair-value upside, at 59%, 600332 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 ¥0.6496 per share, which is 2.0 % 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 17 models by family
Widest divergence: DCF Models (¥55.25) versus Dividend Discount (¥14.89). Highest evidence: Residual Income (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 19, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 48 · Market factors (momentum, volatility) 41
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
Guangzhou Baiyunshan Pharmaceutical Holdings Company Limited engages in the pharmaceutical and healthcare industry in the People's Republic of China and internationally. The company operates through Modern Chinese Medicine Business, Chemical Pharmaceutical Technology Business, Natural Beverage Business, Pharmaceutical Commercial Business, and Other segments.
Full company description
Guangzhou Baiyunshan Pharmaceutical Holdings Company Limited engages in the pharmaceutical and healthcare industry in the People's Republic of China and internationally. The company operates through Modern Chinese Medicine Business, Chemical Pharmaceutical Technology Business, Natural Beverage Business, Pharmaceutical Commercial Business, and Other segments. It is involved in the research, development, manufacturing, and sale of chemical drugs, chemical raw materials, and chemical raw material intermediates; and research, development, production, and sale of health products; and wholesale, retail, and import export of Western medicines, traditional Chinese medicines, and medical devices. The company also offers bio-innovation, consumer health, and medical services; Xiaochaihu granules; Qingkailing and Baoji, Xia Sangju product series; Angong Niuhuang, Zishen Yutai, Xiaoke, Huatuo Zaizao, Zhuangyao Jianshen, and Shujin Jianyao pills; compound Danshen and Naoxinqing tablet series; Banlangen, Compound Banlangen, and Dashen Kouyanqing granules series; and honey-processed Chuanbei and Shedan Chuanbei loquat syrup. In addition, it provides antibacterial and anti-inflammatory drugs, andrological drugs, and analgesics and antipyretics; Wanglaoji herbal tea, Ciningji series, Lixiaoji series, and Yerou coconut milk; and advertising services. Further, the company engages in the medical research industry; technology services industry; leasing and business services; and scientific research and technical services industry. It operates through hospitals, community healthcare facilities, and retail outlets through distributors and agents. The company was formerly known as Guangzhou Pharmaceutical Company Limited and changed its name to Guangzhou Baiyunshan Pharmaceutical Holdings Company Limited in August 2013. Guangzhou Baiyunshan Pharmaceutical Holdings Company Limited was incorporated in 1997 and is based in Guangzhou, China.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Guangzhou Baiyunshan Pharmaceutical Holdings Co Ltd reported revenue of 77.4B CNY in FY2025 versus 69.0B CNY in FY2021, a compound +2.9%/yr. Reported net income was 3.0B CNY in FY2025, compounding −5.4%/yr from FY2021.
of which total revenue +16.4 % · buybacks/dilution −2.2 %
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).
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Peer Group
Medical Distribution · 78 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 Medical Distribution 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.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Medical Distribution stocks, each showing price versus our Fair Value estimate (as of Aug 19, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| McKesson Corporation MCK | $906.77 | $819.31 | −10% |
| Cencora, Inc COR | $330.97 | $211.07 | −36% |
| Cardinal Health, Inc CAH | $234.55 | $141.77 | −40% |
| Henry Schein, Inc HSIC | $88.46 | $71.70 | −19% |
| Shanghai Pharmaceuticals Holding 601607 | ¥16.37 | ¥33.96 | +107% |
| Sinopharm Group 1099 | HK$16.75 | HK$58.67 | +250% |
| Galenica AG GALE | CHF 80.85 | CHF 61.79 | −24% |
| Jointown Pharmaceutical Group 600998 | ¥5.04 | ¥9.84 | +95% |
| Asker Healthcare Group ASKER | kr 74.40 | kr 28.26 | −62% |
| China National Medicines Corporation 600511 | ¥26.84 | ¥58.22 | +117% |
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