Tong Ren Tang Technologies Co. Ltd.

DB:TNG Stock Report

Market Cap: €792.4m

Tong Ren Tang Technologies Valuation

Is TNG 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-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

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

Below Fair Value: TNG (€0.62) is trading above our estimate of fair value (€0.48)

Significantly Below Fair Value: TNG is trading above our estimate of fair value.

Key Valuation Metric

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

Key metric: As TNG is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for TNG. This is calculated by dividing TNG's market cap by their current earnings.
What is TNG's PE Ratio?
PE Ratio9.3x
EarningsCN¥650.79m
Market CapCN¥6.06b

Price to Earnings Ratio vs Peers

How does TNG's PE Ratio compare to its peers?

The above table shows the PE ratio for TNG vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average17.4x
DMP Dermapharm Holding
22x18.1%€2.0b
PSG PharmaSGP Holding
17x13.9%€309.3m
2FJ0 Pierrel
29.9xn/a€92.8m
93M1 MPH Health Care
0.9x-65.7%€104.5m
TNG Tong Ren Tang Technologies
9.3x-0.2%€6.5b

Price-To-Earnings vs Peers: TNG is good value based on its Price-To-Earnings Ratio (9.3x) compared to the peer average (17.4x).

Price to Earnings Ratio vs Industry

How does TNG's PE Ratio compare vs other companies in the European Pharmaceuticals Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
TNG 9.3xIndustry Avg. 19.7xNo. of Companies13PE01632486480+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: TNG is good value based on its Price-To-Earnings Ratio (9.3x) compared to the European Pharmaceuticals industry average (19.7x).

Price to Earnings Ratio vs Fair Ratio

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

TNG PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio9.3x
Fair PE Ratio11.5x

Price-To-Earnings vs Fair Ratio: TNG is good value based on its Price-To-Earnings Ratio (9.3x) compared to the estimated Fair Price-To-Earnings Ratio (11.5x).

Analyst Price Targets

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

The above table shows the analyst TNG forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€0.61
€0.77
+24.7%
8.4%€0.83€0.70n/a2
Nov ’25€0.58
€0.77
+31.1%
8.4%€0.83€0.70n/a2
Oct ’25€0.65
€0.76
+16.6%
7.8%€0.82€0.70n/a2
Sep ’25€0.57
€0.77
+33.7%
7.1%€0.82€0.71n/a2
Aug ’25€0.58
€0.78
+34.1%
6.9%€0.84€0.73n/a2
Jul ’25€0.58
€0.78
+35.2%
6.9%€0.84€0.73n/a2
Jun ’25€0.62
€0.78
+26.5%
6.9%€0.84€0.73n/a2
May ’25€0.65
€0.78
+21.6%
6.9%€0.84€0.73n/a2
Apr ’25€0.57
€0.81
+41.7%
2.0%€0.83€0.80n/a2
Mar ’25€0.61
€0.88
+43.2%
8.5%€0.96€0.81n/a2
Feb ’25€0.65
€0.94
+44.0%
1.7%€0.95€0.92n/a2
Jan ’25€0.77
€0.94
+22.3%
1.7%€0.95€0.92n/a2
Dec ’24€0.76
€0.94
+23.1%
1.7%€0.95€0.92n/a2
Nov ’24€0.71
€0.92
+29.3%
2.7%€0.95€0.90€0.582
Oct ’24€0.75
€0.92
+23.3%
2.7%€0.95€0.90€0.652
Sep ’24€0.74
€0.94
+26.5%
1.3%€0.95€0.93€0.572
Aug ’24€0.82
€0.93
+13.4%
2.6%€0.95€0.91€0.582
Jul ’24€0.91
€0.93
+2.7%
2.6%€0.95€0.91€0.582
Jun ’24€0.82
€0.89
+8.1%
5.4%€0.93€0.84€0.622
May ’24€0.95
€0.89
-6.7%
5.4%€0.93€0.84€0.652
Apr ’24€0.80
€0.89
+11.5%
5.4%€0.93€0.84€0.572
Mar ’24€0.69
€0.87
+25.6%
3.2%€0.90€0.85€0.612
Feb ’24€0.69
€0.90
+31.3%
1.6%€0.91€0.88€0.652
Jan ’24€0.66
€0.90
+37.3%
1.6%€0.91€0.88€0.772
Dec ’23€0.64
€0.90
+41.6%
1.6%€0.91€0.88€0.762
Nov ’23€0.55
€0.90
+63.5%
1.6%€0.91€0.88€0.712

Analyst Forecast: Target price is more than 20% higher than the current share price, but there are not enough analysts covering the stock to determine statistical confidence in agreement.

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