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China's largest private physical-examination (health check-up) chain, serving individual and corporate clients.
China's largest private physical-examination (health check-up) chain, serving individual and corporate clients.
Sells check-up packages, many of them booked by employers for staff, with individuals paying directly for the rest, so revenue follows the number of exams and add-on tests sold. It runs a mix of owned and partner centers.
In one line: A Chinese Concentra-style preventive health check-up chain.
Moat: narrow (scale, brand, distribution). Largest branch network gives scale and brand recognition in a fragmented market.
Headquarters: Hangzhou, Zhejiang, China · Employees: 33,119
Size Meinian Onehealth Healthcare (002044.SZ) is a China Health Care company (Medical/Nursing Services) with a market value of $2.89B, the 884th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥4.96 on 6 Nov 2026.
Performance Over six months the shares fell 8.7%, against +33.1% for the median peer and -16.4% for the China market (cap-weighted) — 3rd lowest of 20 in its peer set.
Growth Revenue fell 4.5% over the last twelve months (peer median +5.0%); the operating margin is 8.8% (peer median 7.5%).
Valuation It trades at 55.1× forward earnings against a peer median of 38.3× (6th most expensive of 18).
Price implies For today's price to make sense, revenue must grow about 6% a year for seven years (Req g). Recent delivered growth is +6%, so the hurdle is +0 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 1.4 points above its cost of capital (8.5% WACC).
Next results Next results expected around 15 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥10.0B | CN¥10.4B | CN¥10.7B | CN¥10.9B | CN¥8.61B |
| Revenue growth | — | -3% | -2% | +26% | — |
| Gross profit | CN¥5.11B | CN¥4.23B | CN¥4.53B | CN¥4.61B | CN¥2.90B |
| EBITDA | n/a | CN¥2.24B | CN¥2.31B | CN¥2.58B | CN¥1.28B |
| Net income | CN¥330M | CN¥285M | CN¥282M | CN¥506M | -CN¥559M |
| Free cash flow | CN¥1.39B | CN¥1.42B | CN¥1.23B | CN¥1.63B | CN¥1.15B |
| Capital expenditure | CN¥496M | CN¥419M | CN¥446M | CN¥408M | CN¥425M |
| Total debt | CN¥6.06B | CN¥6.67B | CN¥6.85B | CN¥6.25B | CN¥5.81B |
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Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 002044.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +9.7% | +8.2% | 6th highest of 21 |
| 6-month return | -8.7% | +33.1% | 3rd lowest of 20 |
| Distance from 52-week high | -44.1% | -14.4% | 3rd lowest of 21 |
| Revenue growth (TTM) | -4.5% | +5.0% | 3rd lowest of 21 |
| Operating margin | 8.8% | 7.5% | 8th highest of 21 |
| Forward P/E | 55.1× | 38.3× | 6th most expensive of 18 |
| Growth the price implies (Req g, 7 yrs) | 5.8% | 15.0% | 6th least demanding of 16 |
| Growth delivered (Del g) | +5.7% | +10.2% | 5th lowest of 16 |
| Hurdle (Req g minus delivered) | +0.1 pp | +3.5 pp | 5th least demanding of 16 |
| ROIC minus cost of capital | +1.4 pp | -1.1 pp | 8th highest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Meinian Onehealth Healthcare 002044.SZ | China | $2.89B | -9% | -4% | 9% | 55.1× | 5.8% | +5.7% |
| Aveanna Healthcare AVAH | United States | $2.89B | +97% | +20% | 11% | 15.4× | 13.4% | +10.2% |
| Fameglow 3774.HK | Hong Kong | $3.19B | n/a | +36% | 11% | n/a | 48.8% | +48.4% |
| Pediatrix Medical MD | United States | $2.44B | +33% | +2% | 12% | 12.9× | -4.5% | +2.0% |
| Acadia Healthcare ACHC | United States | $3.44B | +47% | +4% | 10% | 18.7× | n/a | n/a |
| Dr. Lal PathLabs LALPATHLAB.NS | India | $3.50B | +26% | +17% | 24% | 51.5× | 32.2% | +11.8% |
| Addus HomeCare ADUS | United States | $2.32B | +25% | +12% | 11% | 16.6× | 4.9% | +13.2% |
| AddLife ALIF-B.ST | Sweden | $2.29B | +25% | +2% | 8% | 40.5× | 21.6% | +14.6% |
| NeoGenomics NEO | United States | $2.18B | +88% | +11% | -6% | 58.9× | n/a | n/a |
| Medicover MCOV-B.ST | Sweden | $4.14B | +36% | +6% | 7% | 38.3× | 20.8% | +20.2% |
| Guangzhou Kingmed Diagnostics 603882.SS | China | $1.99B | +5% | -3% | 7% | 31.7× | 6.7% | -6.1% |
| Dian Diagnostics 300244.SZ | China | $1.97B | +11% | -5% | 9% | 25.2× | 2.4% | -1.1% |
| Emeis EMEIS.PA | France | $1.94B | -30% | +4% | 3% | n/a | 21.3% | +8.5% |
| agilon health AGL | United States | $1.90B | +109% | 0% | -4% | 67.5× | n/a | n/a |
| GeneDx WGS | United States | $1.86B | +53% | +25% | -12% | 98.7× | n/a | n/a |
| Option Care Health OPCH | United States | $4.74B | +54% | +4% | 6% | 15.6× | 1.5% | +13.2% |
| Dr. Agarwal's Health Care AGARWALEYE.NS | India | $1.74B | +15% | +22% | 15% | 89.1× | 41.9% | +26.9% |
| Azenta AZTA | United States | $1.72B | +104% | +1% | -3% | 103.7× | 56.0% | +8.9% |
| Personalis PSNL | United States | $1.71B | +164% | -13% | -164% | n/a | n/a | n/a |
| Ping An Healthcare and Technology 1833.HK | Hong Kong | $1.63B | -47% | +8% | 3% | 40.1× | 15.0% | -5.1% |
| Ambea AMBEA.ST | Sweden | $1.63B | +30% | +13% | 8% | 15.8× | 1.7% | +7.7% |