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How does 603538.SS make money? Does 603538.SS have pricing power? What's the Earnings Whisper? Will 603538.SS profit more as the business scales? What is 603538.SS's management track record? Is 603538.SS's current price justified?

Ningbo Menovo Pharmaceutical Co., Ltd.

¥25.24 +$10.79 (+74.67%)

SHH · 15 Sep 2026 07:00 UTC

Previous Close

¥25.81

Day Range

¥25.2¥26.19

Year Range

¥13.55¥50.28

Market Cap

8.58B

AVG Volume

57.88M

Trailing/Forward PE

51.63/44.28

PEG ratio

1.75

Dividend Yield

0.61%

Next Earnings Date

Primary Exchange

Shanghai Stock Exchange

Revenue (CNY)

603538.SS Revenue (CNY) by year
Period	Revenue (CNY)
2025	1.5B
2024	1.37B
2023	1.22B
2022	1.46B
2021	1.26B
2020	1.19B
2019	1.18B
2018	848.96M
2017	605.32M
2016	578.09M

Net Income (CNY)

603538.SS Net Income (CNY) by year
Period	Net Income (CNY)
2025	102.23M
2024	66.81M
2023	11.59M
2022	338.86M
2021	142.53M
2020	155.96M
2019	150.9M
2018	96.35M
2017	44.68M
2016	78.84M

Operating Income (CNY)

603538.SS Operating Income (CNY) by year
Period	Operating Income (CNY)
2025	133.55M
2024	92.59M
2023	18.75M
2022	405.32M
2021	187.91M
2020	205.75M
2019	189.73M
2018	112.56M
2017	63.88M
2016	98.62M

EBITDA (CNY)

603538.SS EBITDA (CNY) by year
Period	EBITDA (CNY)
2025	307.19M
2024	265.65M
2023	151.55M
2022	512M
2021	300.09M
2020	318.66M
2019	275.58M
2018	176.23M
2017	101.17M
2016	140.43M

Cash Flows (CNY)

603538.SS Cash Flows (CNY) by year
Period	Cash Flows (CNY)
2025	45.48M
2024	-60.86M
2023	-150.32M
2022	-266.99M
2021	-309.26M
2020	-60.13M
2019	-147.31M
2018	-252.99M
2017	-24.67M
2016	-21.18M

EPS (CNY)

603538.SS EPS (CNY) by year
Period	EPS (CNY)
2025	0.43
2024	0.3
2023	0.11
2022	1.47
2021	0.64
2020	0.75
2019	0.72
2018	0.53
2017	0.24
2016	0.52

Expenses (CNY)

603538.SS Expenses (CNY) by year
Period	Expenses (CNY)
2025	321.62M
2024	497.21M
2023	528.81M
2022	918.62M
2021	811.73M
2020	555.43M
2019	565.3M
2018	467.08M
2017	213.98M
2016	254.03M

Cash & Debt (CNY)

603538.SS Cash & Debt (CNY) by year
Period	Cash & Debt (CNY)
2025	918.49M
2024	739.87M
2023	724.69M
2022	1.01B
2021	793.16M
2020	368.81M
2019	442.86M
2018	369.95M
2017	258.55M
2016	125.16M

Debt ratios

603538.SS Debt ratios by year
Period	Debt ratios
2025	0.38
2024	0.33
2023	0.45
2022	0.14
2021	0.44
2020	0.45
2019	0.22

Margins

603538.SS Margins by year
Period	Margins
2025	35.04%
2024	30.69%
2023	28.17%
2022	38.86%
2021	37.03%
2020	33.63%
2019	37.34%
2018	31.92%
2017	34.07%
2016	34.95%

Return on Capital

603538.SS Return on Capital by year
Period	Return on Capital
2025	4.17%
2024	2.92%
2023	0.53%
2022	15.59%
2021	7.2%
2020	8.85%
2019	9.62%
2018	7.19%
2017	3.84%
2016	10.79%

Shares Outstanding

603538.SS Shares Outstanding by year
Period	Shares Outstanding
2025	217.78M
2024	207.71M
2023	297.56M
2022	233.89M
2021	222.98M
2020	212.53M
2019	203.99M
2018	154.89M
2017	197.21M
2016	145.26M

Dividends (CNY)

603538.SS Dividends (CNY) by year
Period	Dividends (CNY)
2026	0.15
2025	0.04
2024	0.01
2023	0.12
2022	0.14
2020	0.06
2019	0.1
2018	0.08

Book Value Per Share (CNY)

603538.SS Book Value Per Share (CNY) by year
Period	Book Value Per Share (CNY)
2025	11.25
2024	11.03
2023	7.35
2022	9.29
2021	8.87
2020	8.29
2019	7.69
2018	8.65
2017	5.89
2016	5.03

Total Assets (CNY)

603538.SS Total Assets (CNY) by year
Period	Total Assets (CNY)
2025	4.85B
2024	4.65B
2023	4.42B
2022	4.42B
2021	4B
2020	3.06B
2019	2.61B
2018	2.27B
2017	1.51B
2016	955.29M

PE Ratio

603538.SS PE Ratio by year
Period	PE Ratio
Sep 26	59.87
Sep 26	58.96
Sep 26	63.37
Aug 26	63.32
Aug 26	66.13
Aug 26	70.07
Aug 26	57.94
Jul 26	49.05
Jul 26	51.93
Jul 26	68.5
Jul 26	61.28
Jul 26	55.01
Jun 26	48.81
Jun 26	57.71
Jun 26	58.43
Jun 26	60.35
May 26	68.6
May 26	76.76
May 26	77.31
May 26	96.93
Apr 26	95.03
Apr 26	87.62
Apr 26	79.89
Apr 26	75.46
Apr 26	60.86
Mar 26	64.4
Mar 26	45.76
Mar 26	41.69
Mar 26	36.67
Feb 26	36.79
Feb 26	34.81
Feb 26	35.29
Jan 26	35.04
Jan 26	36.49
Jan 26	34.01
Jan 26	34.67
Dec 25	31.61
Dec 25	40.38
Dec 25	40.81
Dec 25	40.75
Dec 25	41.21
Nov 25	41.33
Nov 25	39.72
Nov 25	45.35
Nov 25	45.29
Oct 25	48.88
Oct 25	44.77
Oct 25	44.54
Oct 25	45.35
Sep 25	44.63
Sep 25	44.26
Sep 25	46.58
Sep 25	50.17
Sep 25	51.69
Aug 25	53.35
Aug 25	55.59
Aug 25	58.29
Aug 25	53.41
Aug 25	53.93
Jul 25	53.15
Jul 25	49.65
Jul 25	47.3
Jul 25	52.15
Jun 25	43.62
Jun 25	41.01
Jun 25	41.63
Jun 25	33.86
May 25	33.3
May 25	32.49
May 25	31.65
May 25	30.97
Apr 25	30.38
Apr 25	30.87
Apr 25	29.57
Apr 25	28.7
Apr 25	33.14
Mar 25	117.39
Mar 25	113.02
Mar 25	112.91
Mar 25	109.92
Feb 25	108.65
Feb 25	110.38
Feb 25	110.49
Feb 25	108.42
Jan 25	102.9
Jan 25	102.9
Jan 25	104.74
Jan 25	98.53
Jan 25	101.06
Jun 24	204.96
Jun 24	210.86
Jun 24	213.94
Jun 24	210.86
May 24	229.87
May 24	235.52
May 24	250.42
May 24	263.51
Apr 24	253.24
Apr 24	234.23
Apr 24	223.19

Free Cash Flow Yield

603538.SS Free Cash Flow Yield by year
Period	Free Cash Flow Yield
Sep 26	0.83%
Sep 26	0.84%
Sep 26	0.78%
Aug 26	0.78%
Aug 26	0.75%
Aug 26	0.71%
Aug 26	0.43%
Jul 26	0.51%
Jul 26	0.48%
Jul 26	0.36%
Jul 26	0.41%
Jul 26	0.45%
Jun 26	0.91%
Jun 26	0.77%
Jun 26	0.76%
Jun 26	0.74%
May 26	0.65%
May 26	0.58%
May 26	0.58%
May 26	0.46%
Apr 26	0.47%
Apr 26	0.51%
Apr 26	0.56%
Apr 26	0.59%
Apr 26	0.73%
Mar 26	-1.14%
Mar 26	-1.61%
Mar 26	-1.77%
Mar 26	-2.01%
Feb 26	-2%
Feb 26	-2.12%
Feb 26	-2.09%
Jan 26	-2.1%
Jan 26	-2.02%
Jan 26	-2.17%
Jan 26	-2.13%
Dec 25	-2.33%
Dec 25	-0.16%
Dec 25	-0.16%
Dec 25	-0.16%
Dec 25	-0.15%
Nov 25	-0.15%
Nov 25	-0.16%
Nov 25	-0.14%
Nov 25	-0.14%
Oct 25	-0.13%
Oct 25	-0.14%
Oct 25	-0.14%
Oct 25	-0.14%
Sep 25	-0.14%
Sep 25	0.15%
Sep 25	0.14%
Sep 25	0.13%
Sep 25	0.13%
Aug 25	0.12%
Aug 25	0.12%
Aug 25	0.11%
Aug 25	0.12%
Aug 25	0.12%
Jul 25	0.12%
Jul 25	0.13%
Jul 25	0.14%
Jul 25	0.13%
Jun 25	-2.09%
Jun 25	-2.22%
Jun 25	-2.19%
Jun 25	-2.69%
May 25	-2.74%
May 25	-2.8%
May 25	-2.88%
May 25	-2.94%
Apr 25	-3%
Apr 25	-2.95%
Apr 25	-3.08%
Apr 25	-3.17%
Apr 25	-2.75%
Mar 25	3.77%
Mar 25	3.92%
Mar 25	3.92%
Mar 25	4.03%
Feb 25	4.08%
Feb 25	4.01%
Feb 25	4.01%
Feb 25	4.09%
Jan 25	4.31%
Jan 25	4.31%
Jan 25	4.23%
Jan 25	4.5%
Jan 25	4.38%
Dec 24	-2.75%
Dec 24	-2.62%
Dec 24	-2.55%
Dec 24	-2.65%
Nov 24	-2.6%
Nov 24	-2.75%
Nov 24	-2.67%
Nov 24	-2.57%
Nov 24	-2.7%
Oct 24	-2.86%
Oct 24	-3.03%

Price to Sales

603538.SS Price to Sales by year
Period	Price to Sales
Sep 26	4.15
Sep 26	4.09
Sep 26	4.4
Aug 26	4.39
Aug 26	4.59
Aug 26	4.86
Aug 26	4.15
Jul 26	3.52
Jul 26	3.72
Jul 26	4.91
Jul 26	4.39
Jul 26	3.94
Jun 26	3.32
Jun 26	3.92
Jun 26	3.97
Jun 26	4.1
May 26	4.67
May 26	5.22
May 26	5.26
May 26	6.59
Apr 26	6.46
Apr 26	5.96
Apr 26	5.43
Apr 26	5.13
Apr 26	4.14
Mar 26	4.16
Mar 26	2.96
Mar 26	2.69
Mar 26	2.37
Feb 26	2.38
Feb 26	2.25
Feb 26	2.28
Jan 26	2.26
Jan 26	2.36
Jan 26	2.2
Jan 26	2.24
Dec 25	2.04
Dec 25	2.71
Dec 25	2.74
Dec 25	2.74
Dec 25	2.77
Nov 25	2.78
Nov 25	2.67
Nov 25	3.05
Nov 25	3.04
Oct 25	3.28
Oct 25	3.01
Oct 25	2.99
Oct 25	3.05
Sep 25	3
Sep 25	2.36
Sep 25	2.49
Sep 25	2.68
Sep 25	2.76
Aug 25	2.85
Aug 25	2.97
Aug 25	3.11
Aug 25	2.85
Aug 25	2.88
Jul 25	2.84
Jul 25	2.65
Jul 25	2.52
Jul 25	2.78
Jun 25	2.12
Jun 25	2
Jun 25	2.03
Jun 25	1.65
May 25	1.62
May 25	1.58
May 25	1.54
May 25	1.51
Apr 25	1.48
Apr 25	1.5
Apr 25	1.44
Apr 25	1.4
Apr 25	1.61
Mar 25	1.93
Mar 25	1.85
Mar 25	1.85
Mar 25	1.8
Feb 25	1.78
Feb 25	1.81
Feb 25	1.81
Feb 25	1.78
Jan 25	1.69
Jan 25	1.69
Jan 25	1.72
Jan 25	1.62
Jan 25	1.66
Dec 24	2.05
Dec 24	2.15
Dec 24	2.21
Dec 24	2.13
Nov 24	2.17
Nov 24	2.05
Nov 24	2.11
Nov 24	2.2
Nov 24	2.09
Oct 24	1.98
Oct 24	1.87

EV/EBITDA

603538.SS EV/EBITDA by year
Period	EV/EBITDA
Sep 26	29.66
Sep 26	29.23
Sep 26	31.29
Aug 26	31.27
Aug 26	32.58
Aug 26	34.43
Aug 26	24.76
Jul 26	21.24
Jul 26	22.38
Jul 26	28.93
Jul 26	26.07
Jul 26	23.59
Jun 26	17.77
Jun 26	20.73
Jun 26	20.97
Jun 26	21.61
May 26	24.35
May 26	27.07
May 26	27.25
May 26	33.78
Apr 26	33.15
Apr 26	30.68
Apr 26	28.11
Apr 26	26.64
Apr 26	21.78
Mar 26	22.73
Mar 26	16.94
Mar 26	15.67
Mar 26	14.11
Feb 26	14.15
Feb 26	13.53
Feb 26	13.68
Jan 26	13.6
Jan 26	14.05
Jan 26	13.28
Jan 26	13.49
Dec 25	12.54
Dec 25	14.08
Dec 25	14.22
Dec 25	14.2
Dec 25	14.35
Nov 25	14.38
Nov 25	13.88
Nov 25	15.65
Nov 25	15.63
Oct 25	16.76
Oct 25	15.47
Oct 25	15.39
Oct 25	15.65
Sep 25	15.42
Sep 25	13.67
Sep 25	14.28
Sep 25	15.22
Sep 25	15.62
Aug 25	16.06
Aug 25	16.65
Aug 25	17.36
Aug 25	16.08
Aug 25	16.21
Jul 25	16.01
Jul 25	15.09
Jul 25	14.47
Jul 25	15.74
Jun 25	12.49
Jun 25	11.83
Jun 25	11.99
Jun 25	10.03
May 25	9.89
May 25	9.69
May 25	9.48
May 25	9.31
Apr 25	9.16
Apr 25	9.28
Apr 25	8.95
Apr 25	8.73
Apr 25	9.85
Mar 25	15.2
Mar 25	14.73
Mar 25	14.72
Mar 25	14.4
Feb 25	14.26
Feb 25	14.45
Feb 25	14.46
Feb 25	14.24
Jan 25	13.65
Jan 25	13.65
Jan 25	13.84
Jan 25	13.18
Jan 25	13.45
Dec 24	19.63
Dec 24	20.37
Dec 24	20.82
Dec 24	20.23
Nov 24	20.5
Nov 24	19.63
Nov 24	20.08
Nov 24	20.72
Nov 24	19.92
Oct 24	19.03
Oct 24	18.19

Price/Operating Cashflow

603538.SS Price/Operating Cashflow by year
Period	Price/Operating Cashflow
Sep 26	36.87
Sep 26	36.32
Sep 26	39.03
Aug 26	39
Aug 26	40.73
Aug 26	43.16
Aug 26	41.43
Jul 26	35.08
Jul 26	37.13
Jul 26	48.98
Jul 26	43.82
Jul 26	39.33
Jun 26	31.38
Jun 26	37.11
Jun 26	37.57
Jun 26	38.81
May 26	44.11
May 26	49.35
May 26	49.71
May 26	62.32
Apr 26	61.11
Apr 26	56.34
Apr 26	51.37
Apr 26	48.52
Apr 26	39.13
Mar 26	108.78
Mar 26	77.3
Mar 26	70.42
Mar 26	61.95
Feb 26	62.14
Feb 26	58.8
Feb 26	59.62
Jan 26	59.19
Jan 26	61.64
Jan 26	57.44
Jan 26	58.57
Dec 25	53.4
Dec 25	29.42
Dec 25	29.74
Dec 25	29.69
Dec 25	30.03
Nov 25	30.11
Nov 25	28.94
Nov 25	33.04
Nov 25	33
Oct 25	35.62
Oct 25	32.62
Oct 25	32.46
Oct 25	33.04
Sep 25	32.52
Sep 25	21.99
Sep 25	23.14
Sep 25	24.92
Sep 25	25.68
Aug 25	26.51
Aug 25	27.62
Aug 25	28.96
Aug 25	26.53
Aug 25	26.79
Jul 25	26.41
Jul 25	24.67
Jul 25	23.5
Jul 25	25.91
Jun 25	24.58
Jun 25	23.11
Jun 25	23.46
Jun 25	19.08
May 25	18.77
May 25	18.31
May 25	17.84
May 25	17.45
Apr 25	17.12
Apr 25	17.4
Apr 25	16.66
Apr 25	16.17
Apr 25	18.68
Mar 25	10.94
Mar 25	10.53
Mar 25	10.52
Mar 25	10.24
Feb 25	10.12
Feb 25	10.28
Feb 25	10.29
Feb 25	10.1
Jan 25	9.59
Jan 25	9.59
Jan 25	9.76
Jan 25	9.18
Jan 25	9.42
Dec 24	37.37
Dec 24	39.13
Dec 24	40.21
Dec 24	38.81
Nov 24	39.45
Nov 24	37.37
Nov 24	38.45
Nov 24	39.97
Nov 24	38.05
Oct 24	35.93
Oct 24	33.93

Price to Book

603538.SS Price to Book by year
Period	Price to Book
Sep 26	2.31
Sep 26	2.28
Sep 26	2.45
Aug 26	2.45
Aug 26	2.55
Aug 26	2.71
Aug 26	2.61
Jul 26	2.21
Jul 26	2.34
Jul 26	3.08
Jul 26	2.76
Jul 26	2.47
Jun 26	2.04
Jun 26	2.41
Jun 26	2.44
Jun 26	2.52
May 26	2.86
May 26	3.2
May 26	3.22
May 26	4.04
Apr 26	3.96
Apr 26	3.65
Apr 26	3.33
Apr 26	3.15
Apr 26	2.54
Mar 26	2.65
Mar 26	1.88
Mar 26	1.71
Mar 26	1.51
Feb 26	1.51
Feb 26	1.43
Feb 26	1.45
Jan 26	1.44
Jan 26	1.5
Jan 26	1.4
Jan 26	1.43
Dec 25	1.3
Dec 25	1.67
Dec 25	1.68
Dec 25	1.68
Dec 25	1.7
Nov 25	1.71
Nov 25	1.64
Nov 25	1.87
Nov 25	1.87
Oct 25	2.02
Oct 25	1.85
Oct 25	1.84
Oct 25	1.87
Sep 25	1.84
Sep 25	1.41
Sep 25	1.49
Sep 25	1.6
Sep 25	1.65
Aug 25	1.7
Aug 25	1.77
Aug 25	1.86
Aug 25	1.7
Aug 25	1.72
Jul 25	1.69
Jul 25	1.58
Jul 25	1.51
Jul 25	1.66
Jun 25	1.27
Jun 25	1.2
Jun 25	1.21
Jun 25	0.99
May 25	0.97
May 25	0.95
May 25	0.92
May 25	0.9
Apr 25	0.89
Apr 25	0.9
Apr 25	0.86
Apr 25	0.84
Apr 25	0.97
Mar 25	1.05
Mar 25	1.01
Mar 25	1.01
Mar 25	0.99
Feb 25	0.97
Feb 25	0.99
Feb 25	0.99
Feb 25	0.97
Jan 25	0.92
Jan 25	0.92
Jan 25	0.94
Jan 25	0.88
Jan 25	0.91
Dec 24	1.16
Dec 24	1.21
Dec 24	1.24
Dec 24	1.2
Nov 24	1.22
Nov 24	1.16
Nov 24	1.19
Nov 24	1.24
Nov 24	1.18
Oct 24	1.11
Oct 24	1.05

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AI Analysis

Ningbo Menovo Pharmaceutical Co., Ltd.

Video analysis: 603538.SS

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