Chaoju Eye Care Holdings Limited

2219.HK · Healthcare · Medical Care Facilities · Valued as of 2026-11-03 · Statements 2025-12-31

How Each Value Is Built

The screener's three formulas on the reported figures. Each card reads the same way: the value as a sum of numbered terms, each term's calculation opened under it, from the reported figures to the value. The list ranks companies by their plain average over the market cap.

What it is worth

EPV + Growth

575.01M USD

what the normal year's earnings are worth for ever, plus growth that pays

Profit

327.01M USD

15 years of cash the shareholders can take out, and the equity left at year 15

FCFF

462.59M USD

15 years of cash for shareholders and lenders, less what is owed

Average Intrinsic Value

454.87M USD

The plain average of EPV, Profit and FCFF

Against the price

Market Cap

203.43M USD

the price on the date above times the shares

Intrinsic Value ÷ Market Cap

2.24×

the ratio the screener ranks by

Margin of Safety

+55.3%

1 − Market Cap / Average Intrinsic Value

Projections, not exact values. Intrinsic Values are projected from each company's past reports. They show which stocks look cheap compared with the others, not exactly what a stock is worth.

Earnings power value plus growth: 575.01M USD
What the normal year's operating profit after tax is worth if it lasts for ever, plus what the new investment adds beyond its cost, less the net debt that comes before the shareholders (or plus the net cash).
①EPV (earnings power value)396.60M USD
+②Net Cash Today178.41M USD
+③Growth Value0 USD
=Value575.01M USD

EPV of the Operations (NOPAT over WACC)

396.60M USD

Net cash today

+178.41M USD

Growth Value

0 USD

Value

575.01M USD

①EPV (Earnings Power Value)

396.60M USD

②Net Cash Today

178.41M USD

③Growth Value

0 USD

Market value

Market Cap203.43M USD

The price on the date above times the shares.

Value vs market

Margin of Safety+64.6%

1 minus the market cap as a share of the value.

Profit value: today's value of the shareholders' equity, from the cash it can pay them (FCFE): 327.01M USD
Fifteen years of free cash flow to equity (FCFE), each brought to today at the cost of equity, plus the equity at year 15 brought to today.
①Present Value of the 15 Years of FCFE186.58M USD
+②Equity at Year 15, Today140.43M USD
=Value327.01M USD
FCFE: the net income left for the shareholders once the business keeps what next year's growth needsEquity reinvestment: the part of the year's net income kept in the business to grow the next year; below zero, capital the business releases to the shareholdersPresent value of the FCFEColoured bars show the FCFE, grey bars the equity reinvestment. With a positive equity reinvestment the two stacked are the year's normalized income; with a negative one the grey is below zero, capital the business releases, and the normalized income is the FCFE plus that negative amount. Shaded, years 6 to 10: the growth rising to its long-run rate and the ROE on new investment falling to the cost of equity. Axes linear.

①Present Value of the 15 Years of FCFE

186.58M USD

②Equity at Year 15, Today

140.43M USD

Market value

Market Cap203.43M USD

The price on the date above times the shares.

Value vs market

Margin of Safety+37.8%

1 minus the market cap as a share of the value.

FCFF value: today's value of the shareholders' equity, from the cash the firm can pay its shareholders and lenders (FCFF): 462.59M USD
Fifteen years of free cash flow to the firm (FCFF), each brought to today at the WACC, plus the invested capital at year 15 brought to today, less the net debt today (or plus the net cash).
①Present Value of the 15 Years of FCFF204.18M USD
+②Invested Capital at Year 15, Today80.00M USD
+③Net Cash Today178.41M USD
=Value462.59M USD
FCFF: the NOPAT left for the shareholders and the lenders once the business reinvests what next year's growth needsReinvestment: the part of the year's NOPAT put back into the business to grow the next year; below zero, capital the business releasesPresent value of the FCFFColoured bars show the FCFF, grey bars the reinvestment. With a positive reinvestment the two stacked are the year's NOPAT; with a negative one the grey is below zero, capital the business releases, and the NOPAT is the FCFF plus that negative amount. Shaded, years 6 to 10: the growth rising to its long-run rate and the ROIC on new investment falling to the WACC. Axes linear.

①Present Value of the 15 Years of FCFF

204.18M USD

②Invested Capital at Year 15, Today

80.00M USD

③Net Cash Today

178.41M USD

Market value

Market Cap203.43M USD

The price on the date above times the shares.

Value vs market

Margin of Safety+56.0%

1 minus the market cap as a share of the value.

The Rates and the Capital the Values Read

The WACC and the cost of equity each value is discounted at, the book value and the net debt each starts from, and the seven quality metrics, from the same run.

WACC: 7.12%
Cost of Equity =Risk-Free Rate 4.50%+Beta 0.54×Market Risk Premium 6.00%= 7.71%

The yearly return the shareholders require for the risk they carry; it is the rate that brings their future cash to today.

Tax Rate for WACC =Tax Provision 11.26M USDPretax Income 36.64M USD= 30.73%

The tax the interest saves.

Interest Expense =EBIT 38.39M USD−Pretax Income 36.64M USD= 1.75M USD

The interest the company paid: EBIT is the profit before tax plus the interest.

Cost of Debt =Interest Expense 1.75M USDTotal Debt 34.00M USD×(1 − Tax Rate for WACC 30.73%)= 3.56%

What the lenders are paid a year after the tax the interest saves.

Debt Weight =Total Debt 34.00M USDMarket Cap + Total Debt 203.43M USD + 34.00M USD= 14.32%

The part of the capital the lenders put in, at market value.

WACC =Equity Weight 85.68%×Cost of Equity 7.71%+Debt Weight 14.32%×Cost of Debt 3.56%= 7.12%

Weighted average cost of capital: the yearly return the shareholders and the lenders together require, weighted by what each puts in; the rate that brings the firm's future cash to today.

Book value and net debt today
Both from the balance sheet of the newest quarter, 2025-12-31.

Total Assets 432.02M USD − Total Liabilities 87.66M USD = Book Value Today 344.36M USD

Total Debt 34.00M USD − Cash and Short-Term Investments 212.41M USD = Net Debt Today -178.41M USD

The book value is what Profit starts from and what stands when a projection is not made; the book value plus the net debt is what FCFF starts from; the net debt comes off Greenwald's and FCFF's values before the shareholders.

Quality metrics
Read beside the value, never a condition for it: every company is valued, and a filter in the list is the reader's choice.
MetricFrom
Share dilutionShares Today ÷ Shares Two Years Back − 10.9%at most 5%passes693,864,501 / 687,485,000
Accrual quality(Operating Cash Flow − Net Income) ÷ Total Assets5.2%at least -10.0%passes(48.56M USD − 26.25M USD) ÷ 432.02M USD
Price to bookMarket Cap ÷ Book Value Today0.59×at most 3×passes203.43M USD ÷ 344.36M USD
Operating marginOperating Income ÷ Revenue18.6%above 10.0%passes36.13M USD ÷ 194.64M USD
Revenue growthRevenue ÷ Revenue a Year Before − 11.0%above 10.0%does not pass194.64M USD / 192.77M USD
Net cash(Cash − Total Debt) ÷ Market Cap19.6%above -30%passes(73.88M USD − 34.00M USD) ÷ 203.43M USD
Operating efficiencyOperating Income ÷ Gross Profit44.0%above 25.0%passes36.13M USD ÷ 82.11M USD

Market Data

The provider's ratios and the analysts' consensus beside the argument; none of them enters a value.

Share price

2.33 HKD

Enterprise value

483.44M HKD

the provider's own figure

EV / EBITDA

1.57×

Price / book

0.59×

the provider's book

Price / earnings

8.61×

Return on equity

6.8%

the provider's figure, not this page's

Profit margin

12.0%

Revenue growth

1.8%

Analyst target, mean

—

Analysts

—

opinions in the consensus

Financial Statements

The annual lines the screener holds, year by year, in USD at each period's rate; the figures this valuation read are in its calculation above.

Income statement (USD)2022202320242025

Revenue

142.33M192.89M192.77M194.64M

Gross profit

62.49M87.48M83.85M82.11M

Operating income

30.45M41.89M35.04M36.13M

EBITDA

operating income before depreciation and amortisation

50.37M61.24M57.27M59.60M

Pretax income

34.38M42.15M36.03M36.64M

Net income

26.99M32.24M26.76M26.25M

Normalized income

net income without one-off items, as the data provider prints it; Profit's line when printed

24.72M29.30M26.38M24.27M

R&D

————
Balance sheet, year end (USD)2022202320242025

Total assets

391.47M411.67M395.14M432.02M

Total liabilities

61.05M76.67M76.09M87.66M

Shareholders' equity

the equity the parent's shareholders own, as printed, without minority interest; the book value the values read is total assets less total liabilities, in Book Value and Net Debt above

326.72M332.41M317.69M343.87M

Total debt

28.20M28.28M29.90M34.00M

Cash and equivalents

135.81M65.27M107.09M73.88M

Net PP&E

fixed assets after depreciation

85.26M83.39M86.85M117.84M

Working capital

current assets less current liabilities

225.72M195.34M187.73M181.05M
Cash flow (USD)2022202320242025

Operating cash flow

39.30M52.48M48.60M48.56M

Capital expenditure

paid out, so below zero

-17.99M-12.19M-18.69M-32.46M

Depreciation and amortisation

14.28M17.38M19.77M21.21M

Free cash flow

operating cash flow plus capital expenditure

21.32M40.28M29.91M16.11M