1. People's Republic of China Stocks

  2. •

    Healthcare

  3. •

    Drug Manufacturers - Specialty & Generic
Yunnan Baiyao Group Co.,Ltd

Yunnan Baiyao Group Co.,Ltd

000538.SZ
Yunnan Baiyao Group Co.,LtdCN flagShenzhen Stock Exchange
48.65
CNY
-0.63
- -
86.80BMarket Cap
Yunnan Baiyao Group Co.,Ltd
000538.SZ
(Shenzhen Stock Exchange)

Recent

price

48.65

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
6.89
7.74
9.48
10.85
12.92
14.22
15.35
16.68
15.13
16.61
18.32
28.66
23.1
21.88
22.42
23.1
22.8
Revenue per Share
0.63
0.83
1.09
1.59
1.72
1.9
2
2.16
1.96
2.34
3.09
2.21
1.9
2.29
2.66
2.89
2.9
Basic EPS, GAAP
-0.1
-0.56
0.46
0.18
0.97
1.4
1.95
0.66
0.56
0.74
1.87
3.69
1.75
1.64
2.03
2.31
-0.35
Free Cash Flow per Basic Share
0.07
0.05
0.08
0.21
0.25
0.4
0.47
0.64
0.11
1.5
2.19
3.89
1.34
1.54
3.33
2.26
2.47
Dividend per Share
1.98
2.7
3.67
4.95
6.36
7.83
9.34
10.87
9.88
10.7
11.25
13.84
11.72
11.13
10.51
11.21
11.32
Book Value per Share
2.93
3.63
4.71
6.03
7.58
9.1
10.68
12.22
22.24
21.02
21.13
29.7
23.93
21.93
21.38
21.9
22.22
Tangible Book Value per Share
1,462
1,461
1,458
1,457
1,456
1,458
1,460
1,458
1,785
1,786
1,788
1,269
1,580
1,788
1,785
1,783
1,791
Basic Weighted Avg Shares
10,075
11,312
13,815
15,815
18,814
20,738
22,411
24,315
27,017
29,665
32,743
36,374
36,488
39,111
40,033
41,187
40,835
Sales/Revenue/Turnover
10.29
11.89
13.11
13.57
13.82
14.59
14.35
14.07
14.22
10.99
13.02
12.44
11.41
9.85
11.92
12.21
12.37
Operating Margin (%)
34
35
72
86
89
122
117
130
141
160
168
348
454
340
311
358
- -
Depreciation Expense
926
1,211
1,583
2,321
2,506
2,771
2,920
3,145
3,494
4,184
5,516
2,805
3,001
4,094
4,749
5,153
5,193
Net Income, GAAP
10.91
13.93
13.52
14.06
14.19
14.3
13.73
13.51
5.85
11.7
18.97
19.65
15.89
14.43
16.14
14.12
16.38
Effective Tax Rate (%)
9.19
10.7
11.46
14.68
13.32
13.36
13.03
12.93
12.93
14.1
16.85
7.71
8.22
10.47
11.86
12.51
12.72
Profit Margin (%)
3,336
4,035
5,414
7,235
10,124
12,227
15,333
17,579
36,669
35,087
33,541
32,786
22,119
23,578
21,292
21,144
22,261
Working Capital
7
7
7
7
903
903
1,801
1,800
4
917
166
260
288
174
193
228
189
LT Debt
4,415
5,555
7,118
9,029
11,295
13,528
15,844
18,143
40,100
38,100
38,344
38,435
38,527
39,905
38,866
40,148
40,501
Total Equity
22.45
22.82
24.65
22.67
20.8
19.21
17.01
15.56
11.19
6.88
8.52
8.81
8.63
8.04
9.94
10.92
10.31
Return on Invested Capital (%)
38.12
35.35
34.24
37.15
29.16
25.11
21.56
19.62
18.53
20.37
25.88
13.15
15.84
19.24
23.1
25.64
25.09
Return on Capital (%)
38.37
35.47
34.1
36.99
30.43
26.8
23.32
21.34
20.87
22.78
28.12
14.89
16.63
21.31
24.57
26.6
26.19
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Dec'24
Mar'25
Jun'25
ST Debt
512
129
111
LT Borrowings
2
2
2
LT Finance Leases
191
187
187
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
1,784
1,784
1,784
Market Capitalization
107,401
101,748
99,938

Working Capital

FRC

•

in mil. unless spec.
Dec'24
Mar'25
Jun'25
Total Current Assets
34,151
35,437
35,075
Cash, Cash Equivalents & STI
13,435
13,364
14,415
Accounts Receivable, Net
9,923
10,924
10,514
Inventories
6,294
5,970
5,835
Total Current Liabilities
12,858
12,240
12,814
Payables & Accruals
- -
- -
- -
ST Debt
512
129
111
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
15.31%
0.95%
3.3%
Free Cash Flow
20.49%
8.53%
13.75%
Net Income, GAAP
9.46%
3.76%
8.51%
Sales/Revenue/Turnover
7.17%
4.77%
2.88%
Total Cash Common Dividend
130.69%
16.65%
-32.17%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
10,774
9,681
9,460
10,118
40,033
2025
10,841
10,416
10,533
- -
41,187
2026
11,603
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.95
- -
- -
- -
2.66
2025
1.08
- -
- -
- -
2.89
2026
1.14
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.01
- -
- -
- -
3.33
2025
- -
- -
- -
- -
2.26
2026
- -
- -
- -
- -
- -
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Business
Yunnan Baiyao Group Co., Ltd. (000538.SZ) engages primarily in the research, development, production, and sale of pharmaceuticals and healthcare products with a focus on traditional Chinese medicine. The company offers a diversified portfolio encompassing health products including toothpastes, shampoos, and skincare creams; prescription and over-the-counter drugs such as Yunnan Baiyao aerosol, ointment, capsules, powder, band-aids, and hemostatic agents; medical devices; traditional Chinese medicine resources like herbal raw materials (e.g., Sanqi/Notoginseng); tea products; and medicine distribution services through its commercial arm. Founded in 1902 and headquartered in Kunming, Yunnan Province, China, the company operates across four major business segments—pharmaceuticals, health products, traditional Chinese medicine resources, and pharmaceutical distribution—with geographic reach extending to China, Southeast Asia, Europe, the United States, Japan, and other international markets. In recent developments, Yunnan Baiyao completed the full acquisition of Juyao Hall in August 2025 for RMB 6.6 billion in cash, bolstering its capabilities in Chinese herbal decoction pieces and granule formulations with complementary northern China sales coverage and performance commitments projecting net profits of RMB 66 million in 2025. The company underwent major organizational restructuring since 2023 alongside senior management changes, launched 50 new products contributing to 12% year-over-year sales growth, announced expansion into 10 additional countries targeting $100 million in new revenue by 2025, and formed a strategic partnership with Peking University Hospital of Stomatology to advance oral health initiatives. Its Smart Factory earned recognition from the World Economic Forum's Global Lighthouse Network in September 2025, underscoring advancements in intelligent manufacturing.