Cellyan Biotechnology Co., Ltd is a US-listed company in the health care distributors industry. Its financial year ends in March.
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~$0.7
Revenue-to-maturity cash-flow model
Base case. Range ~$0.7–$0.8 across our lower- and higher-growth cases (0%–5% a year).
No Buy/Hold/Sell rating is issued: only 2 valuation models apply; a rating needs 3.
Cellyan Biotechnology Co., Ltd valuation: adjust assumptions and compare models →
Revenue for the twelve months was $13m. Free-cash-flow margin held at -5.9%. The diluted share count is up 60.2% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades E. It passes 2 of our 3 financial-health checks. Our revenue-to-maturity cash-flow model value is $0.65 a share, against a share price of $1.98.
Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.
Cellyan Biotechnology Co., Ltd's trailing-twelve-month revenue fell 33.9% year on year, with a free-cash-flow margin of -5.9%. Where it stands out: gross margin of 10.3% ranks 2 of 6 health care distributors companies we cover. Where it lags: revenue growth of -33.9% ranks 6 of 6 health care distributors companies we cover.
Current signal Revenue growth decelerating: TTM revenue growth slowed to -33.9% (-55.6pp vs the prior quarter), the 2nd consecutive quarterly slowdown.
Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.
Nothing in Cellyan Biotechnology Co., Ltd's latest figures clears our strength thresholds.
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Company announcements, filed results and changes that matter to shareholders.
No recent updates are available for HKPD from the sources we follow. See filings →
We value Cellyan Biotechnology Co., Ltd as an operating company, with every model that fits that kind of business. Cost of equity 7.6%: the 10-year Treasury yield (4.9%) plus a beta of 0.58 times a 4.5% equity risk premium.
| Model | Value per share | In the combined value? |
|---|---|---|
| Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. | ~$0.7 ~$0.7–$0.8 | Primary model, counts double |
| Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. | — | Does not apply: no positive earnings in the latest twelve months |
| Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. | — | Does not apply: return on equity above 40%: buybacks or intangibles make book value too small an anchor |
| Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. | ~$0.4 ~$0.3–$0.5 | Included |
| Price-to-sales vs peers Sales per share times peers' typical price-to-sales; used only when earnings are negative. | ~$0.1 ~$0.2–$0.3 | Left out: out of range vs price (0.03x) |
| Combined value Weighted average of the models that apply: the primary model (revenue-to-maturity model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. | ~$0.6 ~$0.4–$0.7 | 2 models |
Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Cellyan Biotechnology Co., Ltd with Health Care Distributors in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.
Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.
No analyst estimates are published for Cellyan Biotechnology Co., Ltd: too few analysts cover it.
Source: SEC EDGAR filings. Retrieved November 1, 2026.
| Period | Revenue (TTM) |
|---|---|
| FY23 Q4 | $12.6M |
| FY24 Q4 | $16.7M |
| FY25 Q4 | $20.3M |
| FY26 Q4 | $13.4M |
Source: SEC EDGAR filings. Retrieved November 1, 2026.
| Period | Operating margin (TTM) |
|---|---|
| FY23 Q4 | -14.3% |
| FY24 Q4 | -11.7% |
| FY25 Q4 | -11.2% |
| FY26 Q4 | -17.8% |
Source: SEC EDGAR filings. Retrieved November 1, 2026.
| Period | FCF margin (TTM) |
|---|---|
| FY23 Q4 | 12.8% |
| FY24 Q4 | -2.7% |
| FY25 Q4 | 2.5% |
| FY26 Q4 | -5.9% |
| Fiscal year | 2023 Mar 2023 | 2024 Mar 2024 | 2025 Mar 2025 | 2026 Mar 2026 |
|---|---|---|---|---|
| Income | ||||
| Revenue | 13 | 17 | 20 | 13 |
| Gross profit | 3 | 4 | 2 | 1 |
| EBITDA | −2 | −2 | −2 | −2 |
| Operating income | −2 | −2 | −2 | −2 |
| Net income | 1 | 1 | −0 | −1 |
| Diluted EPS | $0.15 | $0.18 | −$0.00 | −$0.07 |
| Growth (year on year) | ||||
| Revenue | — | +32.9% | +21.7% | −33.9% |
| Net income | — | +33.2% | −102.0% | — |
| Diluted EPS | — | +23.3% | −101.7% | — |
| Margins | ||||
| Gross margin | 21.8% | 21.3% | 11.9% | 10.3% |
| EBITDA margin | −13.7% | −11.4% | −10.9% | −17.2% |
| Operating margin | −14.3% | −11.7% | −11.2% | −17.8% |
| Net margin | 8.0% | 8.0% | −0.1% | −8.5% |
| Free-cash-flow margin | 12.8% | −2.7% | 2.5% | −5.9% |
| Cash flow | ||||
| Cash from operations | 2 | −0 | 1 | −1 |
| Capital spending | 0 | 0 | 0 | 0 |
| Free cash flow | 2 | −0 | 0 | −1 |
| Balance sheet | ||||
| Cash | — | 1 | 1 | 0 |
| Total debt | — | 1 | 2 | 1 |
| Net debt (negative = net cash) | — | 1 | 1 | 1 |
| Diluted shares | 7m | 7m | 10m | 16m |
| Last 12 months unless stated | HKPD | COSM | YI | HSIC | COR | MCK | Median |
|---|---|---|---|---|---|---|---|
| Revenue, last 12 months | $13m | $74m | $1.7bn | $13.6bn | $332.8bn | $411.0bn | $7.7bn |
| Revenue growth, last 12 months | −33.9% | 33.8% | −12.7% | 6.5% | 5.1% | 8.8% | 5.8% |
| Revenue growth, 3-year average | — | 14.8% | — | 2.6% | 9.4% | 13.1% | 11.2% |
| Revenue growth, latest quarter | — | 28.8% | — | 6.7% | 5.1% | 7.7% | 7.2% |
| Gross margin | 10.3% | 10.3% | 5.8% | 31.3% | 4.0% | 3.6% | 8.0% |
| Operating margin | −17.8% | −24.9% | −0.0% | 5.0% | 0.9% | 1.6% | 0.4% |
| Operating margin, 3-year average | — | −29.5% | −10.6% | 4.8% | 0.9% | 1.3% | 0.9% |
| Net margin | −8.5% | −33.1% | −0.5% | 3.0% | 0.8% | 1.1% | 0.1% |
| Cash from operations / revenue | −5.6% | −13.3% | 0.9% | 5.1% | 1.4% | 1.7% | 1.2% |
| Free-cash-flow margin | −5.9% | −13.5% | 0.9% | 4.2% | 1.2% | 1.6% | 1.1% |
| Free-cash-flow margin, 3-year average | — | −12.4% | −9.0% | 3.8% | 1.0% | 1.4% | 1.0% |
| Stock pay / revenue | — | 2.3% | 0.1% | 0.3% | 0.0% | 0.1% | 0.1% |
| Change in share count | 60.2% | 79.3% | 1.3% | −6.1% | −0.5% | −3.4% | 0.4% |
| Measure | Company | Peer median | Rank |
|---|---|---|---|
| Revenue growth Growth | -33.9% | 6.5% | 6 of 6 |
| Change in growth rate Growth | -55.6pp | -0.9pp | 6 of 6 |
| Gross margin Profitability | 10.3% | 10.3% | 2 of 6 |
| Operating margin Profitability | -17.8% | 0.9% | 5 of 6 |
| Net margin Profitability | -8.5% | 0.8% | 5 of 6 |
| Free-cash-flow margin Cash generation | -5.9% | 1.2% | 5 of 6 |
| Long-term debt as % of assets Balance sheet | 16.0% | 13.7% | 4 of 5 |
| Change in share count Balance sheet | 60.2% | 1.3% | 5 of 6 |
| Days sales outstanding Balance sheet | 84 days | 47 days | 4 of 5 |
Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).
| Manager | Value | Shares | Share of 13F value | Shares QoQ |
|---|---|---|---|---|
| Stonex Group Inc. | $52,355 | 102K | 49.5% | ▲ 159.7% |
| Jane Street Group, LLC | $18,653 | 49K | 17.6% | New |
| HRT Financial LP | $15,000 | 42K | 14.2% | New |
| Xtx Topco Ltd | $14,793 | 39K | 14.0% | New |
| Clear Street Group Inc. | $4,567 | 12K | 4.3% | 0.0% |
| UBS Group AG | $411 | 1K | 0.4% | ▲ 882.7% |
From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Cellyan Biotechnology Co., Ltd's complete shareholder register. Values are as reported by the filers .
From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.
| Data | Last updated | Source |
|---|---|---|
| Share price | Exchange closing prices | |
| News and updates | Company releases and SEC 8-K filings | |
| Analyst estimates | Aggregated analyst estimates | |
| Valuation and scores | Our models, from the filed figures |
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