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Employees: 1,256
Size SWS Hemodialysis Care (688410.SS) is a China Health Care company (Medical Specialties) with a market value of $723M, the 2996th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥10.83 on 6 Nov 2026.
Performance Over six months the shares fell 11.7%, against -7.8% for the median peer and -16.4% for the China market (cap-weighted) — 7th lowest of 21 in its peer set.
Growth Revenue grew 30.8% over the last twelve months (peer median +5.9%); the operating margin is 18.7% (peer median 11.0%).
Valuation It trades at 24.1× forward earnings against a peer median of 19.5× (7th most expensive of 17).
Price implies For today's price to make sense, revenue must grow about 17% a year for seven years (Req g). Recent delivered growth is +26%, so the hurdle is -9 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 18.7 points above its cost of capital (10.4% WACC).
Next results Next results expected around 29 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥959M | CN¥802M | CN¥564M | CN¥686M | CN¥379M |
| Revenue growth | — | +42% | -18% | +81% | — |
| Gross profit | CN¥533M | CN¥392M | CN¥246M | CN¥334M | CN¥156M |
| EBITDA | n/a | CN¥159M | CN¥54.0M | CN¥178M | CN¥55.2M |
| Net income | CN¥200M | CN¥146M | CN¥70.9M | CN¥194M | CN¥59.2M |
| Free cash flow | CN¥55.2M | CN¥170M | CN¥81.3M | -CN¥36.4M | CN¥234M |
| Capital expenditure | CN¥275M | CN¥156M | CN¥83.2M | CN¥113M | CN¥12.9M |
| Total debt | CN¥47.8M | CN¥64.7M | CN¥45.0M | CN¥20.4M | CN¥40.6M |
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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 | 688410.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +20.6% | -1.4% | highest of 21 |
| 6-month return | -11.7% | -7.8% | 7th lowest of 21 |
| Distance from 52-week high | -17.9% | -24.9% | 8th highest of 21 |
| Revenue growth (TTM) | +30.8% | +5.9% | 5th highest of 21 |
| Operating margin | 18.7% | 11.0% | 4th highest of 21 |
| Forward P/E | 24.1× | 19.5× | 7th most expensive of 17 |
| Growth the price implies (Req g, 7 yrs) | 16.7% | 0.1% | 4th most demanding of 15 |
| Growth delivered (Del g) | +25.9% | +12.8% | 2nd highest of 15 |
| Hurdle (Req g minus delivered) | -9.2 pp | -10.1 pp | 8th least demanding of 15 |
| ROIC minus cost of capital | +18.7 pp | +2.3 pp | 4th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| SWS Hemodialysis Care 688410.SS | China | $723M | -12% | +31% | 19% | 24.1× | 16.7% | +25.9% |
| Mesa Laboratories MLAB | United States | $718M | +23% | +3% | 9% | 12.6× | 21.1% | +13.2% |
| Shenzhen Sunnypol Optoelectornics 002876.SZ | China | $728M | -8% | +29% | 5% | 41.8× | 11.1% | +14.2% |
| Synektik SNT.WA | Poland | $713M | +16% | +50% | 24% | 11.8× | 0.1% | +40.3% |
| QuidelOrtho QDEL | United States | $734M | -1% | -5% | -2% | 12.0× | n/a | n/a |
| Livsmed 491000.KS | South Korea | $706M | -47% | +89% | -59% | n/a | n/a | n/a |
| Jiang Xi Sanxin Medtec 300453.SZ | China | $741M | -5% | +12% | 18% | 16.1× | -2.1% | +11.8% |
| Pacific Biosciences of California PACB | United States | $701M | +60% | +2% | -102% | n/a | n/a | n/a |
| Shanghai Sanyou Medical 688085.SS | China | $700M | -21% | +15% | 4% | 50.9× | 29.1% | +6.8% |
| Shanghai Kinetic Medical 300326.SZ | China | $698M | -7% | -28% | 17% | 27.4× | 8.1% | -1.9% |
| Shenzhen Lifotronic Technology 688389.SS | China | $749M | -11% | +14% | 13% | 32.4× | 13.5% | +13.3% |
| Anhui Hongyu Wuzhou Medical Manufacturer 301234.SZ | China | $750M | +177% | -14% | 3% | n/a | 33.5% | -0.6% |
| Doctorglasses Chain 300622.SZ | China | $757M | -10% | +6% | 14% | 24.5× | -2.4% | +15.7% |
| Cytek Biosciences CTKB | United States | $758M | +26% | +5% | -22% | n/a | n/a | n/a |
| Japan Lifeline 7575.T | Japan | $685M | +16% | +6% | 19% | 14.1× | -9.7% | +2.9% |
| Beijing Chunlizhengda Medical Instruments 688236.SS | China | $684M | -21% | -13% | 31% | 19.1× | -5.4% | +2.2% |
| InMode INMD | United States | $767M | -5% | -7% | 18% | 10.1× | -10.5% | +12.4% |
| Jiangsu Hanvo Safety Product 300952.SZ | China | $681M | -21% | +6% | 8% | 47.6× | n/a | n/a |
| BMC Medical 301367.SZ | China | $780M | -13% | +37% | 17% | 19.8× | 0.1% | +15.6% |
| Varex Imaging VREX | United States | $783M | -10% | +5% | 8% | 20.3× | n/a | n/a |
| Shanghai INT Medical Instruments 1501.HK | Hong Kong | $784M | -25% | +35% | 21% | 17.8× | -2.1% | +23.5% |