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Chinese home health-device maker selling glucose meters, blood pressure monitors and (via iHealth) COVID test kits.
Chinese home health-device maker selling glucose meters, blood pressure monitors and (via iHealth) COVID test kits.
Makes devices both for other brands and under its own iHealth label, selling to pharmacies, retailers and distributors. COVID test kits, including large US government test-distribution orders in 2021 and 2022, lifted it sharply and that demand has since faded, leaving blood pressure and glucose monitors as the steadier base.
In one line: China's answer to a home-diagnostics brand like LifeScan/iHealth.
Moat: narrow (brand, distribution). iHealth brand and US retail/distribution ties built during COVID give consumer reach.
Headquarters: Tianjin, China · Employees: 1,249
Size Andon Health (002432.SZ) is a China Health Care company (Medical Specialties) with a market value of $3.60B, the 716th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥52.20 on 6 Nov 2026.
Performance Over six months the shares fell 29.0%, against +6.2% for the median peer and -16.4% for the China market (cap-weighted) — 2nd lowest of 21 in its peer set.
Growth Revenue fell 29.8% over the last twelve months (peer median +4.5%); the operating margin is -26.0% (peer median 12.4%).
Valuation It trades at 15.0× forward earnings against a peer median of 22.1× (2nd cheapest of 18).
Price implies For today's price to make sense, revenue must grow about -8% a year for seven years (Req g). Recent delivered growth is -7%, so the hurdle is -0 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 5.7 points below its cost of capital (5.0% WACC).
Next results Next results expected around 26 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥1.10B | CN¥1.36B | CN¥2.59B | CN¥3.19B | CN¥26.3B |
| Revenue growth | — | -47% | -19% | -88% | — |
| Gross profit | CN¥714M | CN¥827M | CN¥1.78B | CN¥1.95B | CN¥20.9B |
| EBITDA | n/a | -CN¥246M | CN¥743M | CN¥857M | CN¥18.6B |
| Net income | CN¥5.88B | CN¥2.27B | CN¥1.67B | CN¥1.25B | CN¥16.0B |
| Free cash flow | CN¥1.97B | CN¥670M | CN¥1.51B | CN¥1.80B | CN¥18.1B |
| Capital expenditure | CN¥137M | CN¥264M | CN¥73.9M | CN¥213M | CN¥212M |
| Total debt | CN¥9.15B | CN¥5.68B | CN¥3.36B | CN¥1.58B | CN¥318M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Andon Health 002432.SZ | $3.60B | -29% | -30% | -26% | 15.0× | -7.7% |
| Sinocare 300298.SZ | $1.58B | +15% | +7% | 6% | 23.6× | 10.8% |
| Omron 6645.T | $5.79B | -17% | -2% | 9% | 16.7× | 11.7% |
| Abbott Laboratories ABT | $190B | +30% | +10% | 14% | 18.8× | 5.6% |
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 | 002432.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -11.1% | +10.4% | 5th lowest of 21 |
| 6-month return | -29.0% | +6.2% | 2nd lowest of 21 |
| Distance from 52-week high | -45.0% | -26.9% | 4th lowest of 21 |
| Revenue growth (TTM) | -29.8% | +4.5% | lowest of 19 |
| Operating margin | -26.0% | 12.4% | 2nd lowest of 19 |
| Forward P/E | 15.0× | 22.1× | 2nd cheapest of 18 |
| Growth the price implies (Req g, 7 yrs) | -7.7% | 10.1% | least demanding of 17 |
| Growth delivered (Del g) | -7.4% | +8.0% | 2nd lowest of 17 |
| Hurdle (Req g minus delivered) | -0.3 pp | +0.2 pp | 9th least demanding of 17 |
| ROIC minus cost of capital | -5.7 pp | -0.4 pp | 4th lowest of 18 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Andon Health 002432.SZ | China | $3.60B | -29% | -30% | -26% | 15.0× | -7.7% | -7.4% |
| Shandong Weigao Blood Purification Products 603014.SS | China | $3.63B | -3% | +4% | n/a | 20.4× | -1.2% | +8.1% |
| iRay Technology 688301.SS | China | $3.54B | -8% | +58% | 24% | 27.5× | n/a | n/a |
| SCHOTT Pharma AG & Co. KGaA 1SXP.DE | Germany | $3.67B | +31% | +4% | 15% | 22.1× | 11.7% | +11.0% |
| Carl Zeiss Meditec AFX.DE | Germany | $3.51B | +40% | 0% | 8% | 26.8× | 13.7% | +10.8% |
| Stevanato STVN | United States | $3.70B | -26% | +12% | 18% | 19.3× | 10.6% | +12.1% |
| Ambu A/S AMBU-B.CO | Denmark | $3.42B | +40% | +5% | 11% | 28.1× | 12.6% | +11.1% |
| Lepu Medical Technology (Beijing) 300003.SZ | China | $3.42B | -12% | -1% | 13% | 26.3× | 9.6% | -4.2% |
| MGI Tech 688114.SS | China | $3.42B | +9% | +2% | -7% | n/a | 46.5% | -0.1% |
| Autobio Diagnostics 603658.SS | China | $3.41B | +19% | +3% | 25% | 20.6× | -0.3% | +7.2% |
| Ottobock SE & Co. KGaA OBCK.DE | Germany | $3.36B | -25% | +5% | 15% | 15.4× | 3.5% | +8.0% |
| Pulse Biosciences PLSE | United States | $3.87B | +179% | n/a | -7,008% | n/a | n/a | n/a |
| Zhende Medical 603301.SS | China | $3.33B | -8% | +8% | 7% | 43.5× | 23.2% | -16.1% |
| Sumitomo Bakelite 4203.T | Japan | $3.31B | +15% | +15% | 13% | 14.9× | 6.8% | +8.9% |
| Celcuity CELC | United States | $3.27B | -49% | n/a | n/a | n/a | n/a | n/a |
| Envista NVST | United States | $4.04B | +4% | +12% | 11% | 15.6× | 6.8% | +7.1% |
| Tecan TECN.SW | Switzerland | $4.05B | +91% | -4% | 1% | 40.1× | 46.9% | +3.8% |
| Fielmann FIE.DE | Germany | $4.12B | +3% | +3% | 14% | 17.8× | -5.3% | +11.3% |
| CareDx CDNA | United States | $4.13B | +260% | +39% | 1% | 53.2× | n/a | n/a |
| TransMedics TMDX | United States | $3.06B | +30% | +26% | 12% | 48.5× | 35.6% | +88.2% |
| Jiangsu Yuyue Medical Equipment & Supply 002223.SZ | China | $4.26B | -1% | -1% | 13% | 20.4× | 5.1% | +3.4% |