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JBM (Healthcare) Ltd.
(2161)
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Rating:74Outperform
Price Target:
HK$2.00
▲(5.82% Upside)
Action:Reiterated
Date:07/17/26
The score is driven primarily by strong financial performance (significant revenue and margin expansion), supported by attractive valuation (low P/E and high dividend yield). These positives are tempered by weaker technicals (price below key moving averages with negative MACD) and fundamental watch items around the 2026 leverage increase and the decline in free cash flow.
Positive Factors
Revenue Scale and Growth
Revenue more than doubled across the period, indicating meaningful business expansion and stronger commercial scale. Continued top-line growth can broaden operating leverage, support investment in products and distribution, and reinforce the company’s ability to build earnings over the next several quarters.
Negative Factors
Higher Leverage
The sharp increase in debt relative to equity reduces balance-sheet flexibility compared with the prior two years. Greater leverage can constrain future capital allocation and make the company more sensitive to operating setbacks, even though equity remains sizable and leverage is described as moderate.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Scale and Growth
Revenue more than doubled across the period, indicating meaningful business expansion and stronger commercial scale. Continued top-line growth can broaden operating leverage, support investment in products and distribution, and reinforce the company’s ability to build earnings over the next several quarters.
Read all positive factors
JBM (Healthcare) Ltd. (2161) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$1.44B
Dividend Yield10.02%
Average Volume (3M)237.55K
Price to Earnings (P/E)6.8
Beta (1Y)0.17
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. Volume263,772
30 Day Avg. Volume237,550
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$935.78M
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
1.85
Negative
2.06
Negative
2.34
Negative
Market Momentum
-0.02
Negative
39.47
Neutral
6.79
Positive
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 1.79, above the 50-day MA of 1.85, and below the 200-day MA of 2.34, indicating a bearish trend. The MACD of -0.02 indicates Negative momentum. The RSI at 39.47 is Neutral, neither overbought nor oversold. The STOCH value of 6.79 is Positive, 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$772.87M | 7.75 | 13.59% | 7.46% | 10.63% | 39.44% | |
77 Outperform | HK$1.83B | 6.46 | 13.26% | 9.28% | -0.47% | -0.40% | |
74 Outperform | HK$1.44B | 6.82 | 18.70% | 10.02% | 6.69% | 2.45% | |
65 Neutral | HK$721.32M | 4.50 | 7.52% | 3.86% | 7.05% | 22.46% | |
59 Neutral | HK$1.48B | 5.58 | 6.78% | 6.33% | 6.55% | 36.62% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
42 Neutral | HK$2.18B | -6.88 | -31.33% | ― | ― | ― |
* Healthcare Sector Average
HK:2161
JBM (Healthcare) Ltd.
1.71
-1.08
-38.87%
HK:0950
Lee's Pharmaceutical Holdings Limited
1.17
-0.79
-40.38%
HK:2348
Dawnrays Pharmaceutical Holdings Ltd.
1.00
-0.17
-14.30%
HK:0239
Pak Fah Yeow International Limited
2.48
0.17
7.27%
HK:2633
Jacobson Pharma Corporation Limited
0.98
-0.42
-30.16%
HK:2561
VISEN Pharmaceuticals
19.61
-25.25
-56.29%
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...
JBM Plans Hong Kong Spin-Off Listing for TCM Subsidiary JPJ
Jul 17, 2026
JBM (Healthcare) Limited has proposed to spin off and separately list its wholly owned subsidiary JPJ (TCM) Limited, which operates branded proprietary Chinese medicine products and clinic services, on the Main Board of the Hong Kong Stock Exchang...
JBM (Healthcare) Sets August Virtual AGM With Dividend and Share Buyback Mandate on Agenda
Jul 15, 2026
JBM (Healthcare) Ltd. has called a virtual annual general meeting for 10 August 2026 to approve its audited consolidated financial statements for the year ended 31 March 2026 and to declare a final dividend of HK7.35 cents per share. Shareholders ...
JBM Subsidiary to Buy Li Chung Shing Tong Stake from Jacobson Unit for HK$74.7 Million
Jun 29, 2026
JBM (Healthcare) Limited’s subsidiary Po Chai Herbal has agreed to acquire 124,500 shares in Li Chung Shing Tong (Holdings) Limited from Jacobson Pharma subsidiary Europharm for HK$74.7 million, consolidating control of the target company wi...
JBM Healthcare Posts Higher 2026 Revenue and Earnings, Lifts Full-Year Dividend
Jun 22, 2026
JBM (Healthcare) Limited reported revenue of HK$834.6 million for the year ended 31 March 2026, up 6.7% from 2025, with profit from operations rising 7.2% to HK$263.8 million and profit attributable to equity shareholders edging up 1.9% to HK$201....
JBM (Healthcare) Declares Final Dividend for FY2026
Jun 22, 2026
JBM (Healthcare) Limited has declared a final ordinary cash dividend of HKD 0.0735 per share for the financial year ended 31 March 2026, reflecting the company’s decision to return cash to shareholders. The dividend is subject to shareholder...
JBM (Healthcare) Announces Planned Retirement of Non-Executive Director Xu Hongxi
Jun 22, 2026
JBM (Healthcare) Limited announced that Professor Xu Hongxi will retire as a non-executive director at the conclusion of its annual general meeting scheduled for 10 August 2026, after deciding not to seek re-election in order to pursue other busin...
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.