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Employees: 5,221
Size Luye Pharma (2186.HK) is a Hong Kong Health Care company (Pharmaceuticals: Major) with a market value of $839M, the 637th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$1.68 on 6 Nov 2026.
Performance Over six months the shares fell 35.8%, against -8.3% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 2nd lowest of 20 in its peer set.
Growth Revenue grew 2.8% over the last twelve months (peer median +3.4%); the operating margin is 18.5% (peer median 8.9%).
Valuation It trades at 8.1× forward earnings against a peer median of 24.5× (2nd cheapest of 8).
Price implies For today's price to make sense, revenue must grow about -10% a year for seven years (Req g). Recent delivered growth is +2%, so the hurdle is -12 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 1.9 points below its cost of capital (6.7% WACC).
Next results Next results expected around 31 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$6.85B | HK$6.84B | HK$6.57B | HK$6.79B | HK$6.96B |
| Revenue growth | — | +4% | -3% | -2% | — |
| Gross profit | HK$4.36B | HK$4.51B | HK$4.38B | HK$4.64B | HK$4.81B |
| EBITDA | HK$2.23B | HK$2.27B | HK$2.11B | HK$1.79B | HK$1.82B |
| Net income | HK$780M | HK$671M | HK$512M | HK$589M | HK$703M |
| Free cash flow | HK$1.17B | HK$1.59B | -HK$493M | HK$1.04B | HK$1.72B |
| Capital expenditure | HK$749M | HK$1.09B | HK$1.85B | HK$1.29B | HK$1.35B |
| Total debt | n/a | HK$10.5B | HK$11.0B | HK$9.27B | HK$10.2B |
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.
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 | 2186.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -6.4% | -4.9% | 11th highest of 21 |
| 6-month return | -35.8% | -8.3% | 2nd lowest of 20 |
| Distance from 52-week high | -48.8% | -33.2% | 5th lowest of 21 |
| Revenue growth (TTM) | +2.8% | +3.4% | 9th lowest of 18 |
| Operating margin | 18.5% | 8.9% | 4th highest of 18 |
| Forward P/E | 8.1× | 24.5× | 2nd cheapest of 8 |
| Growth the price implies (Req g, 7 yrs) | -10.5% | 9.5% | least demanding of 10 |
| Growth delivered (Del g) | +1.9% | +2.6% | 4th lowest of 10 |
| Hurdle (Req g minus delivered) | -12.4 pp | -4.5 pp | 2nd least demanding of 10 |
| ROIC minus cost of capital | -1.9 pp | +1.9 pp | 7th lowest of 16 |
| EV / EBITDA | 3.8× | 13.1× | cheapest of 9 |
| Net debt / EBITDA | -0.2× | -0.7× | 4th most indebted of 9 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Luye Pharma 2186.HK | Hong Kong | $839M | -36% | +3% | 18% | 8.1× | -10.5% | +1.9% |
| Latigo Biotherapeutics LTGO | United States | $835M | n/a | n/a | n/a | n/a | n/a | n/a |
| Sanofi Consumer Healthcare India SANOFICONR.NS | India | $835M | -28% | +23% | 36% | 27.2× | 17.1% | +22.7% |
| Zhejiang Int'l 000411.SZ | China | $828M | -8% | +3% | 3% | n/a | n/a | n/a |
| CARsgen Therapeutics 2171.HK | Hong Kong | $825M | -54% | +68% | -170% | n/a | n/a | n/a |
| Jinghua Pharmaceutical 002349.SZ | China | $825M | -8% | +2% | 20% | n/a | -1.8% | +2.6% |
| Kaken Pharmaceutical 4521.T | Japan | $854M | -8% | -7% | 11% | 24.5× | n/a | n/a |
| Hygeia Healthcare 6078.HK | Hong Kong | $861M | -7% | +2% | 14% | 11.0× | 4.8% | +22.5% |
| Chongqing Pharscin Pharmaceutical 002907.SZ | China | $808M | -7% | +8% | 10% | n/a | 10.7% | -1.4% |
| Pharming PHARM.AS | Netherlands | $874M | -2% | +2% | 9% | 41.4× | 2.5% | +12.4% |
| Daewoong Pharm 069620.KS | South Korea | $874M | -30% | +9% | 12% | 5.8× | n/a | n/a |
| Guizhou Xinbang Pharmaceutical 002390.SZ | China | $805M | -10% | -13% | 4% | n/a | -3.0% | -0.8% |
| Alumis ALMS | United States | $805M | -27% | -63% | -5,480% | n/a | n/a | n/a |
| SK Discovery 006120.KS | South Korea | $804M | +11% | +20% | 3% | n/a | n/a | n/a |
| Zhejiang Anglikang Pharmaceutical 002940.SZ | China | $801M | -19% | -6% | 10% | n/a | 18.2% | +2.1% |
| Knight Therapeutics GUD.TO | Canada | $800M | +37% | +42% | 5% | 76.4× | 9.5% | +17.7% |
| Aktis Oncology AKTS | United States | $880M | -15% | +337% | -1,150% | n/a | n/a | n/a |
| Sanofi India SANOFI.NS | India | $800M | -3% | -6% | 26% | 19.9× | 16.5% | -8.7% |
| Annexon ANNX | United States | $796M | -26% | n/a | n/a | n/a | n/a | n/a |
| Corvus Pharmaceuticals CRVS | United States | $887M | -32% | n/a | n/a | n/a | n/a | n/a |
| Suven Life Sciences SUVEN.NS | India | $792M | +20% | +17% | -4,228% | n/a | n/a | n/a |