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Modern Dental Group Limited
(3600)
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Rating:82Outperform
Price Target:
HK$9.00
▲(7.40% Upside)
Action:Reiterated
Date:07/04/26
The score is driven primarily by strong financial performance—expanding profitability, improving leverage, and robust free cash flow—supported by an attractive valuation (low P/E and solid dividend yield). Technicals add a positive but secondary boost, with price above major moving averages and generally bullish momentum indicators.
Positive Factors
Profitability Expansion
Meaningful expansion in net and EBIT margins indicates stronger profitability and improved operating economics. If sustained, the higher margin base can support reinvestment, improve resilience against cost pressure, and allow revenue growth to translate more effectively into earnings over the next several quarters.
Negative Factors
Historical Revenue Volatility
The 2022 contraction and only moderate growth in the following years show that revenue expansion has not been consistently high across the period. Uneven demand or product mix can make it harder to sustain operating leverage and may limit the pace at which earnings growth compounds.
Read all positive and negative factors
Positive Factors
Negative Factors
Profitability Expansion
Meaningful expansion in net and EBIT margins indicates stronger profitability and improved operating economics. If sustained, the higher margin base can support reinvestment, improve resilience against cost pressure, and allow revenue growth to translate more effectively into earnings over the next several quarters.
Read all positive factors
Modern Dental Group Limited (3600) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$7.22B
Dividend Yield3.79%
Average Volume (3M)885.92K
Price to Earnings (P/E)10.5
Beta (1Y)0.41
Revenue Growth12.50%
EPS Growth44.44%
CountryHK
Employees8,575
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)0.73
Shares Outstanding934,214,000
10 Day Avg. Volume875,295
30 Day Avg. Volume885,922
Financial Highlights & Ratios
PEG Ratio0.17
Price to Book (P/B)1.52
Price to Sales (P/S)1.34
P/FCF Ratio7.23
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)0.66
Revenue Forecast (FY)HK$4.13B
Modern Dental Group Limited Business Overview & Revenue Model
Company Description
Modern Dental Group Limited, an investment holding entity, is a prominent provider specializing in the manufacturing and worldwide distribution of dental prosthetic devices. Its extensive operations reach various international markets, including E...
How the Company Makes Money
Modern Dental Group makes money primarily by producing and selling custom dental prosthetic products to dentists and dental clinics, with revenue generally recognized when dental restorations/appliances are manufactured and delivered. Key revenue ...
Modern Dental Group Limited Financial Statement Overview
Summary
Income Statement
83
Very Positive
Balance Sheet
78
Positive
Cash Flow
86
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.93B | 3.74B | 3.36B | 3.17B | 2.83B | 2.96B |
| Gross Profit | 2.26B | 2.08B | 1.80B | 1.70B | 1.38B | 1.55B |
| EBITDA | 987.17M | 848.78M | 719.12M | 696.64M | 464.09M | 627.01M |
| Net Income | 686.06M | 596.97M | 408.00M | 404.10M | 220.46M | 360.82M |
Balance Sheet | ||||||
| Total Assets | 4.80B | 4.54B | 4.07B | 3.95B | 3.54B | 3.66B |
| Cash, Cash Equivalents and Short-Term Investments | 829.15M | 767.24M | 816.83M | 697.69M | 447.72M | 638.00M |
| Total Debt | 609.40M | 654.11M | 924.22M | 852.20M | 788.19M | 833.09M |
| Total Liabilities | 1.26B | 1.24B | 1.35B | 1.31B | 1.21B | 1.30B |
| Stockholders Equity | 3.53B | 3.29B | 2.72B | 2.63B | 2.32B | 2.35B |
Cash Flow | ||||||
| Free Cash Flow | 429.53M | 691.12M | 379.37M | 416.04M | 53.36M | 369.27M |
| Operating Cash Flow | 464.77M | 763.10M | 521.19M | 575.76M | 238.72M | 510.72M |
| Investing Cash Flow | -32.00M | -278.13M | -145.47M | -154.96M | -227.55M | -142.65M |
| Financing Cash Flow | -240.29M | -575.66M | -227.70M | -173.64M | -201.79M | -452.12M |
Modern Dental Group Limited Technical Analysis
Neutral
8.38
Price Trends
7.62
Positive
6.72
Positive
6.11
Positive
Market Momentum
0.08
Positive
45.39
Neutral
15.01
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:3600, the sentiment is Neutral. The current price of 8.38 is above the 20-day moving average (MA) of 8.08, above the 50-day MA of 7.62, and above the 200-day MA of 6.11, indicating a neutral trend. The MACD of 0.08 indicates Positive momentum. The RSI at 45.39 is Neutral, neither overbought nor oversold. The STOCH value of 15.01 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for HK:3600.
Modern Dental Group Limited Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
82 Outperform | HK$7.22B | 10.49 | 20.11% | 3.79% | 12.50% | 44.44% | |
69 Neutral | HK$16.27B | 69.70 | 5.84% | 10.97% | ― | ― | |
67 Neutral | HK$1.38B | 29.31 | 1.10% | 3.18% | -1.64% | -68.67% | |
61 Neutral | HK$6.97B | 24.33 | 9.64% | 0.77% | 34.94% | 12.99% | |
60 Neutral | HK$14.70B | 9.22 | 5.64% | 5.34% | 7.47% | -26.89% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
HK:3600
Modern Dental Group Limited
7.65
2.38
45.18%
HK:1066
Shandong Weigao Group Medical Polymer Co
3.24
-2.24
-40.88%
HK:1358
PW Medtech Group Ltd.
0.98
-0.47
-32.32%
HK:1501
Shanghai Kindly Medical Instruments Co., Ltd. Class H
33.56
0.96
2.94%
HK:6699
Angelalign Technology Inc.
96.15
29.84
44.99%
Modern Dental Group Limited Corporate Events
Modern Dental Group Delivers Record Interim Revenue and Higher Dividend on Digital Growth
Aug 27, 2026
Modern Dental Group Limited reported record interim revenue for the six months ended 30 June 2026, despite a challenging macroeconomic backdrop marked by softer demand for dental procedures and geopolitical uncertainty. The company leveraged its d...
Modern Dental Group Declares Interim Dividend for First Half of 2026
Aug 27, 2026
Modern Dental Group Limited, incorporated in the Cayman Islands and listed on the Hong Kong Stock Exchange under stock code 03600, operates in the dental services and products industry. The group focuses on serving patients and dental professional...
Modern Dental Schedules Board Meeting to Approve Interim Results and Consider Dividend
Aug 17, 2026
Modern Dental Group Limited has scheduled a board meeting for 27 August 2026 to review and approve the unaudited interim results for the six months ended 30 June 2026, along with their release to the market. The board will also consider whether to...
Modern Dental Group Forecasts Sharp Interim Profit Growth on Overseas Strength
Aug 13, 2026
Modern Dental Group has issued a positive profit alert for the six months ended 30 June 2026, flagging a revenue increase to between HK$1.975 billion and HK$2.075 billion, up 7.6% to 13.1% year on year. EBITDA is expected to rise about 21.5% to 28...
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.