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JBM (Healthcare) Ltd.
(2161)
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Rating:76Outperform
Price Target:
HK$2.00
▲(5.82% Upside)
Action:Reiterated
Date:10/27/26
The score is driven primarily by strong financial performance (rapid revenue and margin expansion, higher ROE) and very attractive valuation (low P/E and high dividend yield). Offsetting these positives, technical signals remain weaker with the stock trading below key longer-term moving averages and a negative MACD, and fundamentals have some near-term risk from the 2026 debt increase and the notable 2026 free cash flow decline.
Positive Factors
Revenue Scale
Revenue more than doubled across the period, demonstrating meaningful business scale and sustained commercial expansion. A larger revenue base can support operating leverage, broader market reach, and continued investment in the company’s healthcare portfolio over the next several quarters.
Negative Factors
Higher Leverage
The sharp increase in debt relative to equity reduces financial flexibility compared with the prior two years. Higher leverage can increase the importance of maintaining operating profitability and cash generation, while limiting room for additional investment or capital allocation during weaker periods.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Scale
Revenue more than doubled across the period, demonstrating meaningful business scale and sustained commercial expansion. A larger revenue base can support operating leverage, broader market reach, and continued investment in the company’s healthcare portfolio over the next several quarters.
Read all positive factors
JBM (Healthcare) Ltd. (2161) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$1.36B
Dividend Yield10.3%
Average Volume (3M)247.25K
Price to Earnings (P/E)6.6
Beta (1Y)0.28
Revenue Growth6.69%
EPS Growth2.45%
CountryHK
Employees404
SectorHealthcare
Sector Strength45
IndustryDrug Manufacturers - Specialty & Generic
Share Statistics
EPS (TTM)0.25
Shares Outstanding822,000,000
10 Day Avg. Volume422,904
30 Day Avg. Volume247,246
Financial Highlights & Ratios
PEG Ratio2.55
Price to Book (P/B)2.01
Price to Sales (P/S)2.60
P/FCF Ratio18.20
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.26
Revenue Forecast (FY)HK$880.50M
JBM (Healthcare) Ltd. Business Overview & Revenue Model
Company Description
JBM (Healthcare) Limited functions as an investment holding company that operates across Asia, engaging in the entire process of bringing healthcare and wellness products to market, from their conception and production to their promotion, distribu...
How the Company Makes Money
Detailed, verifiable information on JBM (Healthcare) Ltd.’s revenue model, key revenue streams, and material partnerships (e.g., segment breakdown, major customer types, reimbursement exposure, distribution arrangements, or contract structures) is...
JBM (Healthcare) Ltd. Financial Statement Overview
Summary
Income Statement
88
Very Positive
Balance Sheet
77
Positive
Cash Flow
62
Positive
| Breakdown | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 834.63M | 782.29M | 648.41M | 520.32M | 406.14M |
| Gross Profit | 465.54M | 413.71M | 338.08M | 187.92M | 142.30M |
| EBITDA | 303.43M | 298.41M | 220.73M | 111.40M | 84.14M |
| Net Income | 201.09M | 197.26M | 130.46M | 57.09M | 24.62M |
Balance Sheet | |||||
| Total Assets | 1.76B | 1.55B | 1.39B | 1.40B | 1.33B |
| Cash, Cash Equivalents and Short-Term Investments | 119.94M | 205.85M | 140.81M | 152.27M | 69.84M |
| Total Debt | 393.72M | 171.75M | 133.41M | 180.10M | 213.09M |
| Total Liabilities | 631.64M | 381.16M | 366.75M | 372.10M | 363.30M |
| Stockholders Equity | 1.08B | 1.08B | 970.68M | 985.51M | 929.20M |
Cash Flow | |||||
| Free Cash Flow | 119.36M | 205.92M | 181.00M | 137.75M | 52.96M |
| Operating Cash Flow | 152.66M | 226.94M | 191.22M | 145.89M | 60.01M |
| Investing Cash Flow | -263.14M | -120.48M | 8.31M | -7.05M | -7.57M |
| Financing Cash Flow | 24.30M | -41.54M | -210.72M | -56.04M | -76.85M |
JBM (Healthcare) Ltd. Technical Analysis
Negative
1.89
Price Trends
1.68
Negative
1.81
Negative
2.17
Negative
Market Momentum
-0.02
Negative
48.40
Neutral
67.42
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2161, the sentiment is Negative. The current price of 1.89 is above the 20-day moving average (MA) of 1.60, above the 50-day MA of 1.68, and below the 200-day MA of 2.17, indicating a neutral trend. The MACD of -0.02 indicates Negative momentum. The RSI at 48.40 is Neutral, neither overbought nor oversold. The STOCH value of 67.42 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:2161.
JBM (Healthcare) Ltd. Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | HK$774.43M | 7.77 | 13.59% | 7.44% | 10.63% | 39.44% | |
76 Outperform | HK$1.36B | 6.64 | 18.70% | 10.30% | 6.69% | 2.45% | |
70 Outperform | HK$1.78B | 6.19 | 13.26% | 9.67% | -0.47% | -0.40% | |
68 Neutral | HK$606.50M | 3.64 | 8.02% | 5.61% | 7.05% | 22.46% | |
59 Neutral | HK$1.39B | 5.12 | 6.78% | 6.85% | 6.55% | 36.62% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
42 Neutral | HK$1.59B | -5.37 | -33.42% | ― | ― | ― |
* Healthcare Sector Average
HK:2161
JBM (Healthcare) Ltd.
1.66
-1.09
-39.68%
HK:0950
Lee's Pharmaceutical Holdings Limited
1.03
-0.78
-43.25%
HK:2348
Dawnrays Pharmaceutical Holdings Ltd.
0.92
-0.21
-18.58%
HK:0239
Pak Fah Yeow International Limited
2.49
0.25
11.09%
HK:2633
Jacobson Pharma Corporation Limited
0.94
-0.41
-30.22%
HK:2561
VISEN Pharmaceuticals
13.93
-24.09
-63.36%
JBM (Healthcare) Ltd. Corporate Events
JBM (Healthcare) Wins Strong Shareholder Backing for Dividend and Capital Mandates
Aug 10, 2026
Shareholders of JBM (Healthcare) Limited approved all resolutions at the 10 August 2026 annual general meeting, including the audited financial statements for the year ended 31 March 2026 and a final dividend of HK7.35 cents per share. The strong ...
JBM (Healthcare) Updates Board Roles and Governance Structure
Aug 10, 2026
JBM (Healthcare) Ltd. has updated the composition of its board of directors and clarified each member’s roles across key committees, effective 10 August 2026 in Hong Kong. The announcement outlines the responsibilities of executive, non-exec...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.