Aesthetic Medical International Holdings Group Ltd (PAIYY) stock analysis
Close on Oct 19, 2026
StockData Score
Prices as of Nov 13, 2026How the score works
Weak2 of 30 checks passed
Aesthetic Medical International passes 2 of the 30 checks behind our score; 22 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.
- Valuation
- 0/6
- Growth
- 1/6
- Past performance
- 1/6
- Financial health
- 0/6
- Dividend
- 0/6
What stands out
Gross margin improving
Gross margin was 46.2% over the last twelve months, against 44.7% a year earlier.
Net margin above its 5-year average
Net margin was -7.4% over the last twelve months, against a 5-year average of -23.5%.
What to watch
Revenue growing under 10% a year
Revenue grew 2.6% a year over the last three fiscal years, short of the 10% we look for.
Debt not well covered by cash flow
Operating cash flow over the last twelve months equals -8.5% of total debt; we look for at least 20%.
Growing slower than the industry
Revenue grew -4.3% over the last twelve months; the Health Services median is 2.0%.
Return on equity below the industry
Aesthetic Medical International's return on equity of -1082% is below the Health Services median of 3.6%.
Valuation0/6
P/E against its history
Not enough price and earnings history to compare.
P/E against the industry
Needs positive earnings and enough profitable companies in the industry.
EV/EBITDA against its history
Needs positive EBITDA and price history.
P/B against the industry
Needs positive book value.
Price against fair value
We could not estimate a fair value: it needs at least two valuation methods with positive inputs.
Margin of safety
Depends on the fair value estimate.
Growth1/6
Revenue growing under 10% a year
Revenue grew 2.6% a year over the last three fiscal years, short of the 10% we look for.
EPS growth over 3 years
Needs positive EPS three years ago and today.
Earnings acceleration
Needs positive net income now, a year ago and five years ago.
Growing slower than the industry
Revenue grew -4.3% over the last twelve months; the Health Services median is 2.0%.
Company guidance
No outlook found in earnings releases from the last twelve months.
Gross margin improving
Gross margin was 46.2% over the last twelve months, against 44.7% a year earlier.
Past performance1/6
Return on equity
Needs positive equity and five years of results.
Return on invested capital
Needs operating income and invested capital.
Return on equity below the industry
Aesthetic Medical International's return on equity of -1082% is below the Health Services median of 3.6%.
Earnings over 5 years
Needs positive net income five years ago and in the latest year.
Net margin above its 5-year average
Net margin was -7.4% over the last twelve months, against a 5-year average of -23.5%.
Net margin below the industry
Aesthetic Medical International's net margin of -7.4% is below the Health Services median of -1.0%.
Financial health0/6
Debt level
Needs debt and equity figures.
Debt trend
Needs a balance sheet from five years ago with positive equity.
Debt not well covered by cash flow
Operating cash flow over the last twelve months equals -8.5% of total debt; we look for at least 20%.
Interest coverage
Interest expense is not reported separately.
Short-term liquidity
The balance sheet is not split into current and non-current items.
Bankruptcy risk (Altman Z)
Needs market value, working capital and retained earnings.
Dividend0/6
No dividend
Aesthetic Medical International has not paid a dividend in the last twelve months.
Yield against Treasuries
No dividend.
Yield against the market
No dividend.
Dividend stability
No dividend.
Earnings cover
No dividend.
Cash-flow cover
No dividend.
Fair value
How we estimate itWe don't publish a fair value for Aesthetic Medical International. It needs a US-dollar share price, at least two valuation methods with positive inputs (earnings, EBITDA, book value or sales) and, for companies with several share classes, classes that trade at the same price.
An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.
Margins
Share of revenue, fiscal years 2017 to 2025
Gross margin
Net margin
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -4.3% | +2.6% | -4.3% | – | |
| Gross profit | -1.0% | -2.0% | -9.3% | – |
Returns and balance sheet
9 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2017 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | -50.2% | -1082.4% | |
| Return on assets | – | -22.6% | -10.7% | |
| Current ratio | – | 0.68 | – | |
| Debt to equity | – | 0.54 | -7.00 | |
| Inventory turnover | – | 12.0× | 23.1× | |
| Capex to revenue | 6.8% | 4.3% | 1.0% | |
| Diluted shares | 41M | 65M | 144M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Aesthetic Medical International generated CN¥292.40M from operations and spent CN¥131.63M on capital expenditure, dividends and share buybacks. 97% of that went back into the business.
DuPont analysis
Return on equity split into margin, efficiency and leverage
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -7.4% | 1.45× | 101.16× | -1082.4% |
| FY2024 | -2.6% | 1.44× | 13.19× | -50.3% |
| FY2023 | -5.5% | 1.23× | -17.09× | 115.6% |
| FY2022 | -11.4% | 1.19× | -4.16× | 56.4% |
| FY2021 | -90.9% | 0.80× | 6.90× | -500.9% |
| FY2020 | -26.1% | 0.86× | 2.22× | -50.2% |
| FY2019 | 15.7% | 1.01× | 6.41× | 101.3% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
- ProfitableNet income above zero-CN¥53.35M
- Cash generatingOperating cash flow above zero-CN¥12.23M
- Return on assets improvedROA up on the prior year-3.6% → -11.0%
- Earnings backed by cashOperating cash flow above net income-CN¥12.23M vs -CN¥53.35M
- Less leverageLong-term debt to assets fell2.8% → 3.0%
- Better liquidityCurrent ratio rose– → –
- No dilutionShare count did not rise144M → 144M
- Gross margin improvedGross margin up on the prior year44.70% → 46.24%
- More efficientAsset turnover rose1.35 → 1.49
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