China National Medicines Corp Ltd (600511) Fair Value & Analysis
Healthcare · CN · Market cap 20.8B CNY (≈ $3.1B) · ISIN CNE000001D56
What is China National Medicines Corp Ltd really worth?
A solid business, trading 54% below our fair value of ¥58.22.
Strengths
Risks
For context
Fair value as of: Aug 21, 2026
From 26 valuation models · updated 15 days ago
Share price −1.8% 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 is below even our cautious bear case (¥43.66). The market is more pessimistic than our downside scenario.
- Solid quality (62/100) 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 21, 2026.
How to read this chart
60‑month range ¥23.93 – ¥42.59 · fair‑value band ¥43.66 – ¥72.07 · the ¥27.05 price screens below the ¥58.22 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 21, 2026.
Analysis
China National Medicines Corp Ltd (600511) currently trades at ¥27.05, while our model-based Fair Value estimate is ¥58.22, implying the stock looks roughly 53.5% undervalued today. The Quality Score stands at 62/100 (solid quality), in the Healthcare sector. Bull case: the DCF Models group reads highest at a median of ¥79.76 per share, and 22 of the 26 models we run sit above the ¥27.05 price. Bear case: the Dividend Discount group reads lowest at ¥13.35, and 4 of the 26 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, China National Medicines Corp Ltd generated revenue of 53.3B CNY at a net margin of 3.8%. Revenue grew 6.6% year over year. It earns a return on equity of 10.4%. The balance sheet holds a net cash position of 4.3B CNY. Fundamentals as of Aug 21, 2026
Our scenario range runs from ¥43.66 (bear case) to ¥72.07 (bull case); at ¥27.05, 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 13% below its 52-week high and 3% above its 52-week low, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at −10% fair-value upside, at 115%, 600511 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 ¥1.27 per share, which is 2.2 % 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 (¥79.76) versus Dividend Discount (¥13.35). Highest evidence: FCF DCF (77).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 21, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 63 · Market factors (momentum, volatility) 52
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
China National Medicines Corporation Ltd., together with its subsidiaries, engages in pharmaceutical equipment circulation in China.
Full company description
China National Medicines Corporation Ltd., together with its subsidiaries, engages in pharmaceutical equipment circulation in China. The company also manufactures and sells new drugs; sells Chinese patent medicines drug sales and western medicines, and medical equipment; and offers dental drug and equipment, warehousing, logistics and import and export agency services. It also serves hospitals, retail pharmacies, and medical institutions. The company was founded in 1999 and is based in Beijing, China. China National Medicines Corporation Ltd. operates as a subsidiary of Sinopharm Group Co. Ltd.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
China National Medicines Corp Ltd reported revenue of 52.5B CNY in FY2025 versus 46.5B CNY in FY2021, a compound +3.1%/yr. Reported net income was 2.0B CNY in FY2025, compounding +3.3%/yr from FY2021.
of which total revenue +11.3 % · buybacks/dilution −3.4 %
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 21, 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% |
| Guangzhou Baiyunshan Pharmaceutical Holdings 600332 | ¥21.03 | ¥28.65 | +36% |
| Jointown Pharmaceutical Group 600998 | ¥5.04 | ¥9.84 | +95% |
| Asker Healthcare Group ASKER | kr 74.40 | kr 28.26 | −62% |
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