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Employees: 2,731
Size Tianjin Tianyao Pharmaceuticals (600488.SS) is a China Health Care company (Pharmaceuticals: Other) with a market value of $801M, the 2759th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥4.93 on 6 Nov 2026.
Performance Over six months the shares fell 13.5%, against -17.2% for the median peer and -16.4% for the China market (cap-weighted) — 8th highest of 21 in its peer set.
Growth Revenue fell 11.6% over the last twelve months (peer median +0.5%); the operating margin is 3.3% (peer median 9.5%).
Valuation It trades at 2.5× enterprise value to sales against a peer median of 3.6× (7th cheapest of 18).
Price implies For today's price to make sense, revenue must grow about 4% a year for seven years (Req g). Recent delivered growth is -1%, so the hurdle is +5 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 0.1 points below its cost of capital (5.0% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥2.54B | CN¥2.89B | CN¥3.19B | CN¥3.75B | CN¥3.66B |
| Revenue growth | — | -10% | -15% | +2% | — |
| Gross profit | CN¥1.15B | CN¥1.09B | CN¥1.36B | CN¥1.65B | CN¥1.71B |
| EBITDA | n/a | CN¥536M | CN¥556M | CN¥434M | CN¥438M |
| Net income | CN¥46.7M | CN¥70.6M | CN¥133M | CN¥117M | CN¥35.4M |
| Free cash flow | CN¥361M | CN¥82.3M | CN¥492M | CN¥650M | CN¥446M |
| Capital expenditure | CN¥41.7M | CN¥55.9M | CN¥77.7M | CN¥133M | CN¥202M |
| Total debt | CN¥800M | CN¥826M | CN¥644M | CN¥995M | CN¥1.58B |
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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 | 600488.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -24.4% | -7.1% | lowest of 21 |
| 6-month return | -13.5% | -17.2% | 8th highest of 21 |
| Distance from 52-week high | -41.6% | -35.7% | 8th lowest of 21 |
| Revenue growth (TTM) | -11.6% | +0.5% | 6th lowest of 20 |
| Operating margin | 3.3% | 9.5% | 6th lowest of 19 |
| EV / Sales | 2.5× | 3.6× | 7th cheapest of 18 |
| Growth the price implies (Req g, 7 yrs) | 3.6% | 4.9% | 5th least demanding of 12 |
| Growth delivered (Del g) | -1.3% | +13.4% | lowest of 12 |
| Hurdle (Req g minus delivered) | +4.9 pp | -4.0 pp | 4th most demanding of 12 |
| ROIC minus cost of capital | -0.1 pp | +0.1 pp | 10th highest of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Tianjin Tianyao Pharmaceuticals 600488.SS | China | $801M | -14% | -12% | 3% | 2.5× | 3.6% | -1.3% |
| PharmaNutra PHN.MI | Italy | $808M | -18% | +18% | 21% | 5.1× | 4.0% | +18.5% |
| Sirio Pharma 300791.SZ | China | $790M | -12% | -9% | 1% | 1.6× | 14.7% | +15.6% |
| Shanghai Kaibao Pharmaceutical 300039.SZ | China | $756M | -17% | -14% | 22% | 3.7× | 1.8% | +4.8% |
| China Shineway Pharmaceutical 2877.HK | Hong Kong | $719M | -21% | -18% | 25% | n/a | n/a | n/a |
| Brother Enterprises 002562.SZ | China | $716M | -28% | +8% | 4% | 1.6× | 4.9% | +13.5% |
| Shanxi Zhendong Pharmaceutical 300158.SZ | China | $713M | -16% | -28% | -25% | 2.0× | n/a | n/a |
| TSI 603262.SS | China | $909M | -41% | +3% | 14% | 5.0× | 25.8% | +13.4% |
| Sihuan Pharmaceutical 0460.HK | Hong Kong | $952M | -35% | +30% | 15% | 2.3× | n/a | n/a |
| ArriVent BioPharma AVBP | United States | $673M | -54% | n/a | n/a | n/a | n/a | n/a |
| CK Life Sciences International (Holdings) 0775.HK | Hong Kong | $644M | -30% | 0% | 0% | 2.1× | n/a | n/a |
| New Journey Health Technology Group Co., Ltd.Class A 002219.SZ | China | $999M | -16% | -14% | 8% | 3.0× | n/a | n/a |
| ABA Chemicals 300261.SZ | China | $641M | -27% | -16% | -23% | 5.2× | n/a | n/a |
| Applied Nutrition APN.L | United Kingdom | $1.01B | +42% | +24% | n/a | n/a | n/a | n/a |
| Hangzhou Minsheng Healthcare 301507.SZ | China | $624M | -21% | +21% | 11% | 4.1× | 20.4% | +12.1% |
| Shandong Xinhua Pharmaceutical 000756.SZ | China | $1.09B | -10% | -5% | 4% | 1.0× | 1.5% | +7.9% |
| Lanzhou Foci Pharmaceutical 002644.SZ | China | $582M | -9% | +3% | 5% | 3.6× | 24.3% | +6.5% |
| Hunan Hansen Pharmaceutical 002412.SZ | China | $582M | +10% | -4% | 21% | 3.4× | 3.0% | +7.0% |
| Lionco Pharmaceutical 603669.SS | China | $581M | +21% | -6% | -17% | 10.2× | n/a | n/a |
| HBM 2142.HK | Hong Kong | $1.18B | -23% | +55% | 44% | 5.1× | 14.1% | +62.3% |
| BioGaia BIOG-B.ST | Sweden | $1.26B | -7% | +13% | 28% | 7.2× | 0.9% | +15.5% |