Breaking Down Sirio Pharma Co., Ltd. Financial Health: Key Insights for Investors

Dive into Sirio Pharma Co., Ltd.'s financial portrait where Q3 2025 top-line momentum-1.25 billion CNY in revenue, up 18.11% quarter-over-quarter-sits alongside a trailing twelve-month revenue of 4.45 billion CNY (TTM) and 2024 annual sales of 4.21 billion CNY (+17.56% YoY); profitability shows a 32.11% gross margin, a 9.77% operating margin, 7.76% profit margin and an EBITDA margin of 13.24%, while EPS is 1.13 CNY with a P/E of 20.16 and a P/S of 1.57 against a market capitalization of 6.98 billion CNY; the balance sheet reveals total debt of 1.71 billion CNY, cash of 605.41 million CNY and a net debt around 1.10 billion CNY with book value per share at 8.69 CNY, Altman Z-Score 2.9 and Piotroski F-Score 5 signaling moderate risk and average financial strength; liquidity and cash generation show operating cash flow of 695.53 million CNY, capex of 489.27 million CNY and free cash flow of 206.27 million CNY, supporting a 0.50 CNY annual dividend (2.19% yield) at a 49.89% payout ratio; growth catalysts include a planned first overseas production site in Thailand with investment up to US$40 million, >100% CAGR in Southeast Asia between 2022-2024, seven production facilities across China, Europe and the U.S., and the 2023 Best Formulations LLC acquisition aimed at expanding U.S. capabilities-read on for a data-driven breakdown of risks, valuation metrics and operational levers that matter to investors.

Sirio Pharma Co., Ltd. (300791.SZ) - Revenue Analysis

Sirio Pharma Co., Ltd. (300791.SZ) reported continued top-line momentum into Q3 2025, with sequential and annual growth driven by core product lines and expanded commercial reach.

• Q3 2025 revenue: 1.25 billion CNY - an 18.11% increase from Q2 2025.
• Trailing twelve months (TTM) revenue: 4.45 billion CNY - up 7.90% year-over-year.
• Full-year 2024 revenue: 4.21 billion CNY - a 17.56% increase versus 2023.

Key operating scale and valuation metrics reflect both productivity and market positioning:

• Total workforce: 2,776 employees.
• Revenue per employee: ~1.60 million CNY.
• Market capitalization: 6.98 billion CNY.
• Price-to-Sales (P/S) ratio: 1.57.

For related corporate positioning and strategic context, see Mission Statement, Vision, & Core Values (2026) of Sirio Pharma Co., Ltd.

Sirio Pharma Co., Ltd. (300791.SZ) - Profitability Metrics

Key profitability indicators for Sirio Pharma show a business with solid gross economics, moderate operating efficiency, and shareholder returns supported by dividends. Below are the headline metrics and immediate implications for investors.

• Gross margin: 32.11% - indicates healthy markup over cost of goods sold, leaving room to cover operating expenses and generate profit.
• Operating margin: 9.77% - reflects core operating efficiency after SG&A and R&D; positive but suggests room to improve operating leverage.
• Profit margin (net margin): 7.76% - net income as a share of revenue, showing retained profitability after all expenses, interest and taxes.
• EBITDA margin: 13.24% - highlights cash-operating profitability before non-cash charges and financing costs.
• Earnings per share (EPS): 1.13 CNY - per-share profitability metric used by investors to gauge company earnings on a per-share basis.
• Price-to-earnings (P/E) ratio: 20.16 - market valuation relative to current earnings; implies market prices earnings at ~20x.
• Annual dividend: 0.50 CNY; dividend yield: 2.19%; payout ratio: 49.89% - a nearly 50% payout indicating balanced distribution to shareholders while retaining earnings for growth.

For additional context on Sirio Pharma's strategic positioning, ownership and how the company generates revenue, see: Sirio Pharma Co., Ltd.: History, Ownership, Mission, How It Works & Makes Money

Sirio Pharma Co., Ltd. (300791.SZ) - Debt vs. Equity Structure

Key balance-sheet and solvency figures for Sirio Pharma Co., Ltd. provide a snapshot of leverage, liquidity and shareholder capital strength.

• Leverage: Net debt (~1.10 billion CNY) represents a meaningful burden against 2.75 billion CNY of book equity, signaling leverage but not dominance over equity.
• Liquidity: Cash cover of 605.41 million CNY leaves the company in a net debt position (net cash per share -3.60 CNY) despite positive working capital (972.44 million CNY).
• Solvency signals: Altman Z-Score 2.9 implies moderate bankruptcy risk; Piotroski F-Score 5 denotes average operational/financial quality.
• Per-share perspective: Book value per share (8.69 CNY) versus net cash per share (-3.60 CNY) highlights leverage impact on shareholder equity per share.

For context on strategy, governance and long-term orientation see: Mission Statement, Vision, & Core Values (2026) of Sirio Pharma Co., Ltd.

Sirio Pharma Co., Ltd. (300791.SZ) - Liquidity and Solvency

• Current ratio: not directly provided in the headline data; must be inferred from the latest balance sheet (current assets ÷ current liabilities). Based on typical peer profiles and available cash flow metrics, an estimated range is ~1.2-1.5 (requires exact balance-sheet figures to confirm).
• Quick ratio: not directly provided but estimable by excluding inventory from current assets. A conservative estimated range is ~0.9-1.2 pending exact inventory and receivable figures.
• Operating cash flow (LTM): 695.53 million CNY - cash generated from core operations.
• Capital expenditures (CapEx): 489.27 million CNY - investments in property, plant, equipment and growth projects.
• Free cash flow (FCF = OCF - CapEx): 206.27 million CNY - positive FCF indicating cash leftover after investments.
• Dividend yield: 2.19% with a payout ratio of 49.89% - moderate distribution policy, roughly half of earnings returned to shareholders.

• Implications for investors:
  • Positive operating cash flow (695.53M CNY) and positive FCF (206.27M CNY) support liquidity and near-term obligations.
  • CapEx at 489.27M CNY signals ongoing investment; maintain coverage of CapEx by operating cash flow.
  • Dividend yield 2.19% with ~50% payout suggests a balanced approach between returning cash and retaining earnings for reinvestment.
  • Confirm precise current and quick ratios from the latest balance sheet for definitive solvency assessment.

Sirio Pharma Co., Ltd. (300791.SZ) - Valuation Analysis

• P/E 20.16: market is pricing the company at just over 20 times trailing earnings - reflects moderate growth expectations relative to peers in the pharmaceutical sector.
• P/S 1.57: indicates investors pay ~1.6x annual sales, useful where earnings may be volatile or lumpy.
• Market cap 6.98 billion CNY: positions Sirio Pharma in the small-mid cap segment, affecting liquidity and index inclusion considerations.
• BVPS 8.69 CNY: tangible net asset measure to compare against current share price for liquidation/asset-based valuation checks.
• Altman Z-Score 2.9: sits near the borderline between safe and distress zones-monitor liquidity, leverage and operating cash flow trends.
• Piotroski F-Score 5: middling score-some positive operational/accounting signals but not a strong quality screen.

• Trailing vs. forward P/E divergence - watch analyst EPS revisions for re-rating potential.
• Revenue growth vs. P/S - sustained top-line acceleration can justify higher P/S.
• Balance sheet trends impacting Z-Score - short-term debt, working capital and retained earnings movements.
• Return on equity and leverage relative to BVPS to assess asset efficiency and survivability.

Sirio Pharma Co., Ltd. (300791.SZ) - Risk Factors

• Altman Z-Score: 2.9 - indicates moderate bankruptcy risk (zone of "grey"/distress signal).
• Piotroski F-Score: 5 - reflects average accounting/financial strength (neutral reliability).
• Net debt: ≈ 1.10 billion CNY - a material leverage burden that can reduce strategic flexibility and increase interest-service risk.
• Working capital: 972.44 million CNY - positive short-term liquidity cushion but must be viewed against near-term liabilities and operating cash flow variability.
• Net cash per share: -3.60 CNY - confirms a per-share net debt position; dilution or refinancing needs are possible if cash generation weakens.
• Industry exposure: Nutraceutical sector - susceptible to regulatory changes, product approval requirements, quality-control scrutiny, and intense market competition.

• Refinancing and interest-rate exposure: With a sizable net debt position, rising rates or tighter credit markets could strain debt servicing and refinancing terms.
• Operational risk: Working capital appears adequate now, but seasonality, receivable collectability, or inventory obsolescence could erode short-term liquidity.
• Regulatory/legal risk: Nutraceuticals face shifting standards, enforcement actions, and labeling/claims restrictions that can affect sales and recall risk.
• Market/competitive risk: Product differentiation, private-label competition, and pricing pressure may compress margins and slow revenue growth.
• Balance-sheet event risk: A continued middling Piotroski score and Z-Score near the distress threshold increase the chance that adverse earnings shocks trigger covenant breaches or asset disposals.

For additional context on ownership, trading activity and investor composition see: Exploring Sirio Pharma Co., Ltd. Investor Profile: Who's Buying and Why?

Sirio Pharma Co., Ltd. (300791.SZ) - Growth Opportunities

• Planned investment of up to US$40 million to build a nutraceutical production site in Chonburi, Thailand (subject to regulatory approval).
• First production plant outside China, marking a strategic footprint expansion into Southeast Asia.
• Reported Southeast Asia revenue CAGR >100% for 2022-2024, reflecting rapid market adoption.
• Seven production facilities currently established across China, Europe and the United States; the Thai facility is nearing completion.
• Acquisition of Best Formulations LLC (Jan 2023) to bolster U.S. capabilities and vertical integration.
• Introduction of newer brands in the region and rising nutraceutical uptake among younger cohorts expected to sustain top-line momentum.