Whole Shine Medical Technology Valuation

Q: What is the Fair Price of 002622 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

002622 (CN¥2.88) is trading below our estimate of [[fair value]] (CN¥7.36)

Is 002622 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

Below Fair Value
Significantly Below Fair Value
Price-To-Sales vs Peers
Price-To-Sales vs Industry
Price-To-Sales vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 002622 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 002622 (CN¥2.88) is trading below our estimate of fair value (CN¥7.36)

Significantly Below Fair Value: 002622 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 002622?

Key metric: As 002622 is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for 002622. This is calculated by dividing 002622's market cap by their current revenue.
What is 002622's PS Ratio?
PS Ratio	2.8x
Sales	CN¥868.10m
Market Cap	CN¥2.39b

002622 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	3.2x
Enterprise Value/EBITDA	29.8x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does 002622's PS Ratio compare to its peers?

The above table shows the PS ratio for 002622 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PS	Estimated Growth	Market Cap
Peer Average	4.2x
301103 Liaoning He Eye Hospital Group	3.2x	n/a	CN¥3.5b
300962 Zhongjin Irradiation	11.8x	n/a	CN¥4.3b
300244 Dian Diagnostics GroupLtd	0.6x	8.2%	CN¥7.8b
600682 Nanjing Xinjiekou Department Store	1.4x	9.4%	CN¥9.6b
002622 Whole Shine Medical Technology	2.8x	n/a	CN¥2.4b

Price-To-Sales vs Peers: 002622 is good value based on its Price-To-Sales Ratio (2.8x) compared to the peer average (4.2x).

Price to Sales Ratio vs Industry

How does 002622's PS Ratio compare vs other companies in the CN Healthcare Industry?

8 Companies	Price / Sales	Estimated Growth	Market Cap
601607 Shanghai Pharmaceuticals Holding	0.3x	9.5%	US$9.88b
600998 Jointown Pharmaceutical Group	0.2x	8.0%	US$3.53b
000028 China National Accord Medicines	0.2x	5.7%	US$2.10b
000950 C.Q. Pharmaceutical Holding	0.1x	10.1%	US$1.33b

8 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: 002622 is expensive based on its Price-To-Sales Ratio (2.8x) compared to the CN Healthcare industry average (1.8x).

Price to Sales Ratio vs Fair Ratio

What is 002622's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

002622 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	2.8x
Fair PS Ratio	n/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate 002622's Price-To-Sales Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.

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