InnoCare Pharma Limited

SEHK:9969 Stock Report

Market Cap: HK$14.0b

InnoCare Pharma Valuation

Is 9969 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • 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 9969 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 9969 (HK$7.03) is trading below our estimate of fair value (HK$24.32)

Significantly Below Fair Value: 9969 is trading below fair value by more than 20%.


Key Valuation Metric

Which metric is best to use when looking at relative valuation for 9969?

Other financial metrics that can be useful for relative valuation.

9969 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/Revenue9.4x
Enterprise Value/EBITDA-11.5x
PEG Ration/a

Price to Sales Ratio vs Peers

How does 9969's PS Ratio compare to its peers?

The above table shows the PS ratio for 9969 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average4.4x
6660 AIM Vaccine
7.5xn/aHK$9.5b
1530 3SBio
1.6x9.2%HK$14.2b
9995 RemeGen
6.1x26.2%HK$17.1b
6826 Shanghai Haohai Biological Technology
2.4x12.5%HK$16.0b
9969 InnoCare Pharma
14.6x26.4%HK$14.0b

Price-To-Sales vs Peers: 9969 is expensive based on its Price-To-Sales Ratio (14.6x) compared to the peer average (4.4x).


Price to Earnings Ratio vs Industry

How does 9969's PE Ratio compare vs other companies in the HK Biotechs Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a42.4%
n/an/an/a
No. of CompaniesPS048121620

Fetching data

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a42.4%
n/an/an/a
No more companies

Price-To-Sales vs Industry: 9969 is expensive based on its Price-To-Sales Ratio (14.6x) compared to the Hong Kong Biotechs industry average (13.4x).


Price to Sales Ratio vs Fair Ratio

What is 9969'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.

9969 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio14.6x
Fair PS Ratio6x

Price-To-Sales vs Fair Ratio: 9969 is expensive based on its Price-To-Sales Ratio (14.6x) compared to the estimated Fair Price-To-Sales Ratio (6x).


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 9969 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentHK$7.03
HK$9.03
+28.5%
25.9%HK$13.66HK$5.90n/a6
Nov ’25HK$6.58
HK$9.03
+37.3%
25.9%HK$13.66HK$5.90n/a6
Oct ’25HK$6.74
HK$9.34
+38.6%
28.6%HK$13.71HK$5.92n/a6
Sep ’25HK$4.98
HK$8.78
+76.2%
29.7%HK$13.67HK$5.90n/a5
Aug ’25HK$4.60
HK$8.89
+93.2%
31.5%HK$13.46HK$5.95n/a4
Jul ’25HK$4.82
HK$10.07
+108.8%
34.1%HK$14.76HK$5.96n/a5
Jun ’25HK$4.32
HK$9.77
+126.1%
32.6%HK$14.82HK$5.98n/a6
May ’25HK$4.63
HK$9.73
+110.2%
33.1%HK$14.87HK$6.28n/a6
Apr ’25HK$4.65
HK$9.64
+107.2%
31.0%HK$14.85HK$6.27n/a7
Mar ’25HK$5.18
HK$10.57
+104.1%
25.2%HK$15.01HK$7.52n/a7
Feb ’25HK$5.39
HK$10.57
+96.1%
25.2%HK$15.01HK$7.52n/a7
Jan ’25HK$6.89
HK$11.25
+63.3%
23.3%HK$15.03HK$7.69n/a7
Dec ’24HK$6.42
HK$11.88
+85.1%
25.3%HK$16.76HK$7.67n/a8
Nov ’24HK$6.30
HK$12.36
+96.2%
22.5%HK$16.41HK$7.51HK$6.588
Oct ’24HK$5.95
HK$12.53
+110.6%
21.4%HK$16.38HK$7.50HK$6.749
Sep ’24HK$6.64
HK$13.00
+95.7%
16.3%HK$16.57HK$9.07HK$4.989
Aug ’24HK$8.11
HK$13.43
+65.6%
14.7%HK$16.77HK$10.49HK$4.609
Jul ’24HK$7.06
HK$13.99
+98.1%
13.8%HK$17.30HK$10.82HK$4.829
Jun ’24HK$7.13
HK$13.99
+96.2%
13.8%HK$17.30HK$10.82HK$4.329
May ’24HK$9.00
HK$14.36
+59.5%
22.6%HK$22.05HK$10.83HK$4.639
Apr ’24HK$8.37
HK$14.63
+74.8%
22.7%HK$22.08HK$10.84HK$4.658
Mar ’24HK$9.02
HK$15.41
+70.8%
21.3%HK$22.13HK$10.85HK$5.189
Feb ’24HK$14.32
HK$19.72
+37.7%
26.8%HK$32.43HK$13.72HK$5.398
Jan ’24HK$13.64
HK$19.08
+39.9%
26.7%HK$31.20HK$13.20HK$6.898
Dec ’23HK$10.80
HK$19.40
+79.6%
23.3%HK$29.74HK$15.70HK$6.427
Nov ’23HK$9.22
HK$19.46
+111.1%
25.2%HK$29.80HK$15.46HK$6.306

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.


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