TacticScaleByhealth Co (300146.SZ) Stock: Fair Value & Is It Undervalued?
Updated October 2026 · reflects Byhealth Co's latest reported financials
Chinese dietary supplement maker behind By-Health and LifeSpace brands
Quick answer: Byhealth Co's most-likely fair value is about $5 (range $4–$8) versus a recent price near $9. The disciplined verdict is “Fairly priced — no edge” — fair value is only actionable at the extremes. Analysis, not advice.
Price sits in the normal range — fair value isn't actionable here; it earns its keep only when price drops below the no-growth floor, or runs to roughly double the optimistic case.
Analysis, not advice. Fair value is a margin-of-safety estimate from a deterministic owner-earnings DCF, not a price target or recommendation. See the full breakdown →
Is Byhealth Co stock undervalued?
On an owner-earnings DCF, Byhealth Co's most-likely value is about $5 versus a recent price near $9 (44% above fair value). But TacticScale only calls a stock undervalued when the price sits below its conservative no-growth floor (~$3) with a margin of safety — so the honest verdict here is “Fairly priced — no edge.” Fair value earns its keep only at the extremes, not in the wide middle.
What is Byhealth Co?
Byhealth (formerly Guangdong By-Health Biotechnology) was founded in 1995 and is based in Guangzhou. It is one of the best-known names in China's dietary supplement market. Its portfolio includes protein powder, collagen, probiotics, multivitamins and bone health products such as glucosamine, chondroitin and calcium tablets, sold under the By-Health, Jianlidu and LifeSpace brands. It sells mainly in China, and also in Hong Kong, Australia and other international markets. Its sales channels include pharmacies, supermarkets, maternity and baby stores, and distributors, plus e-commerce platforms such as Tmall, JD.com, Vipshop, Douyin and Kuaishou. Besides supplements, the group has smaller businesses in food sales, trademark management, OTC licensing, outsourced processing, scenic area tourism, real estate, and trade and investment.
What Byhealth Co does
Byhealth makes and sells vitamins and nutritional supplements, such as protein powder, collagen, probiotics, multivitamins and bone and joint health products. It mainly sells in China, and also in Hong Kong, Australia and other markets. Its products reach consumers through pharmacies, supermarkets, maternity and baby stores, and major online shopping platforms.
How Byhealth Co makes money
It makes most of its money selling branded supplements through retail stores, distributors and e-commerce platforms such as Tmall, JD.com and Douyin. Smaller revenue streams include food sales, trademark management, OTC licensing, outsourced processing, scenic area tourism and real estate.
Products & services
- By-Health (汤臣倍健) supplements
- Jianlidu (健力多) glucosamine & chondroitin joint care
- LifeSpace probiotics
- Protein powder
- Collagen
- Multivitamins and calcium tablets
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