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Gempharmatech Co. Ltd. A (688046) Fair Value & Analysis

Healthcare · CN · Market cap 15.3B CNY (≈ $2.3B) · ISIN CNE100005964

What is Gempharmatech Co. Ltd. A really worth?

GC Gempharmatech Co. Ltd. A 688046 · SHG
Price¥30.71
Fair Value¥7.65
Upside−75.1%
Quality68/100

A solid business, but trading 301% above our fair value of ¥7.65.

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Strengths

Healthy Growth (revenue 5y +24.8 %/yr)
Solidly profitable · 19.2% net margin
Low debt · generates free cash flow

Risks

!Mixed vs. peers (7/14)
!Moderate moat 59/100
!Weak on past: 29 out of 100
!Weak on dividend: 14 out of 100

For context

·0.72% dividend yield
Evidence: High Range ¥5.74 – ¥9.56

Fair value as of: Aug 26, 2026

From 26 valuation models · updated 10 days ago

Share price +12.7% 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 (¥9.56). The favourable scenario is already priced in.
  • Solid but not exceptional quality (68/100) and above fair value, neither a clear bargain nor a standout compounder.

Price vs Fair Value (4 years)

¥40.95 ¥8.82 Fair Value ¥7.65 Apr 2022 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 26, 2026.

How to read this chart

52‑month range ¥8.82 – ¥40.95 · fair‑value band ¥5.74 – ¥9.56 · the ¥30.71 price screens above the ¥7.65 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 26, 2026.

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Analysis

Gempharmatech Co. Ltd. A (688046) currently trades at ¥30.71, while our model-based Fair Value estimate is ¥7.65, implying the stock looks roughly 301.4% overvalued today. The Quality Score stands at 68/100 (solid quality), in the Healthcare sector. Bull case: the DCF Models group reads highest at a median of ¥11.75 per share, and 0 of the 26 models we run sit above the ¥30.71 price. Bear case: the Dividend Discount group reads lowest at ¥2.40, and 26 of the 26 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Gempharmatech Co. Ltd. A generated revenue of 831M CNY at a net margin of 19.2%. Revenue grew 21.8% year over year. It earns a return on equity of 7.2%. The stock trades on a trailing P/E of 76.8. Fundamentals as of Aug 26, 2026

Our scenario range runs from ¥5.74 (bear case) to ¥9.56 (bull case); at ¥30.71, 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 near its 52-week high and 164% 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 −75%, 688046 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 ¥0.1218 per share, which is 1.6 % 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.

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
FCF DCF ¥5.75 ¥9.02 ¥18.16 76
Residual Income ¥4.34 ¥4.53 ¥4.70 76
Growth DCF ¥5.55 ¥9.90 ¥18.09 75
All 26 models by family
DCF Models
FCF DCF ¥5.75 ¥9.02 ¥18.16 76
Owner Earnings ¥5.90 ¥11.82 ¥24.11 71
5Y Revenue Exit ¥5.47 ¥9.36 ¥16.57 70
5Y EBITDA Exit ¥7.28 ¥13.32 ¥23.82 72
5Y P/E Exit ¥6.46 ¥12.25 ¥19.67 69
10Y Revenue Exit ¥5.38 ¥9.91 ¥15.75 65
10Y EBITDA Exit ¥6.81 ¥13.28 ¥25.10 65
10Y P/E Exit ¥6.23 ¥11.75 ¥21.14 61
Earnings-Based
Graham-Dodd ¥2.36 ¥16.15 ¥22.64 63
Lynch FV ¥4.75 ¥6.78 ¥8.82 61
PEG = 1.0 ¥4.75 ¥6.78 ¥8.82 57
EPV ¥4.48 ¥5.03 ¥5.52 71
Dividend Discount
Gordon GGM ¥1.37 ¥2.85 ¥4.52 66
DDM Multi-Stage ¥1.37 ¥2.40 ¥2.99 66
Multiples
P/E Multiple ¥5.74 ¥7.65 ¥9.56 63
P/S Multiple ¥4.43 ¥5.91 ¥7.39 58
P/B Multiple ¥4.43 ¥5.91 ¥7.39 55
EV/EBIT ¥6.79 ¥8.68 ¥10.57 66
EV/EBITDA ¥8.05 ¥10.36 ¥12.67 67
EV/Revenue ¥5.17 ¥6.91 ¥8.64 54
Asset-Based
NCAV (Graham) ¥2.71 ¥3.64 ¥5.43 54
Growth DCF
Growth DCF ¥5.55 ¥9.90 ¥18.09 75
Rev-Margin DCF ¥5.47 ¥9.69 ¥15.93 71
Economic Profit
Residual Income ¥4.34 ¥4.53 ¥4.70 76
ROIC Compounder ¥4.48 ¥5.03 ¥5.66 72
Growth Earnings
Growth-Adj P/E ¥6.68 ¥9.54 ¥12.41 67

Widest divergence: DCF Models (¥11.75) versus Dividend Discount (¥2.40). Highest evidence: FCF DCF (76).

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Key figures & financial health

P/E ratio 76.8
P/S ratio 13.8 P/E × margin
EPS (TTM) ¥0.4000 price ÷ EPS = P/E 76.8
Dividend yield 0.7% payout 55.0%
Net margin 18.0% FY2025
Return on equity 7.2% TTM
More key figures
Profitability
Return on assets (EBIT) 7.9% avg 5y
Operating margin 24.9% TTM
Growth
Revenue (TTM) 831M CNY TTM
Revenue growth (YoY) +21.8% 3y avg +15.4%
EPS growth (YoY) +71.4%
Balance sheet & cash flow
Free cash flow 122M CNY FY2025

Figures from reported company fundamentals · as of Aug 26, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 68/100

Of which business quality 67 · Market factors (momentum, volatility) 76

Profitability 39
Margins and returns on capital today
Quality Growth 64
Are margins and returns improving?
Cashflow 67
Earnings quality: real cash, not paper profit
Fin. Strength 90
Balance sheet, leverage, solvency risk
Investment 59
Disciplined investing over empire-building
Low Volatility 36
Calm price path (market factor)
Momentum 99
Price trend over the last 3–12 months (market factor)
52W Momentum 83
Distance to the 52-week high (market factor)
Net Issuance 82
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.

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

GemPharmatech Co., Ltd., a contract research organization, provides genetically engineered mouse models and preclinical research services to the scientific community worldwide.

Full company description

GemPharmatech Co., Ltd., a contract research organization, provides genetically engineered mouse models and preclinical research services to the scientific community worldwide. The company offers mouse models, including knockout and conditional knockout mouse, disease mouse, immunodeficient mouse, germ-free mouse, and tool mice models, as well as operates wild mouse project. It also provides custom model generation, preclinical testing, germ-free and microbiome, cell lines and customization, custom breeding, animal quality testing, and other services. The company has a strategic alliance with Memorial Sloan Kettering Cancer Center (MSK) to accelerate the discovery of new therapeutic antibodies. The company was founded in 2017 and is headquartered in Nanjing, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Gempharmatech Co. Ltd. A reported revenue of 793M CNY in FY2025 versus 394M CNY in FY2021, a compound +19.1%/yr. Reported net income was 143M CNY in FY2025, compounding +3.4%/yr from FY2021.

Growth Quality 95/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
793M CNY
Latest YoY
+15.5%
Avg. revenue 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.
+15.4%
Avg. revenue growth/yr (5Y) 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.
+24.8%
Avg. revenue growth/yr (6Y) 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.
+26.6%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+11.1% (10.4 + 0.7)
Revenue +19.1%/yr
FY21 394M CNY
FY22 517M CNY
FY23 622M CNY
FY24 687M CNY
FY25 793M CNY
Net income +3.4%/yr
FY21 125M CNY
FY22 165M CNY
FY23 159M CNY
FY24 110M CNY
FY25 143M CNY

688046 screens 301% overvalued. Compare with Vertex Pharmaceuticals Incorporated →

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Cite: Fair Value Calculator (2026). "Gempharmatech Co. Ltd. A Fair Value". https://www.fairvalue-calculator.com/stock/688046

Peer Group

Biotechnology · 622 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 68 · Top 25%
Fair Value upside −75% · Bottom 25%
Return on equity (TTM) 7% · Top 25%
Return on assets 4% · Top 25%
Net margin (TTM) 19% · Top 25%
Operating margin (TTM) 25% · Top 25%
Revenue growth 22% · Above median
Dividend yield (TTM) 0.7% · Below median
Debt / equity 0.01× · Lower than median

Valuation Multiples vs Biotechnology median · lower = cheaper

P/E (TTM) 76.8× · Pricier than 75% of peers
P/B 6.89× · Pricier than 75% of peers
P/S (TTM) 18.47× · Pricier than 75% of peers
P/FCF 18.8× · Pricier than 75% of peers
EV/EBITDA 60.8× · Pricier than 75% of peers

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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 0
FUTURE100 · sector 0
PAST29 · sector 0
HEALTH100 · sector 98
DIVIDEND14 · sector 26

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

Similar stocks

10 more Biotechnology stocks, each showing price versus our Fair Value estimate (as of Aug 26, 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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Frequently asked questions

Is Gempharmatech Co. Ltd. A (688046) overvalued or undervalued?
As of Aug 26, 2026, our model estimates a fair value of ¥7.65 versus a price of ¥30.71, about −75% upside (overvalued).
What is the fair value of 688046?
Our model-based fair value for Gempharmatech Co. Ltd. A is ¥7.65 (as of Aug 26, 2026), built from audited fundamentals. The current price: ¥30.71.
What is the quality score of 688046?
Gempharmatech Co. Ltd. A has a Quality Score of 68/100. 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 Gempharmatech Co. Ltd. A (688046)?
Gempharmatech Co. Ltd. A reported trailing-twelve-month revenue of about 831M CNY (latest available figure, as of Aug 26, 2026).
What is the net profit margin of 688046?
The net profit margin of Gempharmatech Co. Ltd. A is about 19.2%, meaning it keeps roughly 19.2% of revenue as net income. Based on the latest reported figures.
Does Gempharmatech Co. Ltd. A pay a dividend?
Gempharmatech Co. Ltd. A currently shows a dividend yield of about 0.72% relative to its recent price (as of Aug 26, 2026).
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