AGC Inc (ASGLY) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of AGC Inc stock $5.50, price $6.23, that is 11.7% below the price, quality 57 out of 100. Rating: overvalued. Calculated from audited financials with 12 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 9, 2026.
How to read this chart
60‑month range $4.73 – $10.16 · fair‑value band $2.93 – $7.50 · the $6.23 price screens above the $5.50 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 9, 2026.
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AGC Inc. manufactures and sells architectural glass, electronics, chemicals, automotive, and ceramics worldwide.
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The company offers architectural glass products, including insulated, laminated, wired, toughened, solar control, sound insulation, decorative, float and patterned, and industrial glass, as well as structural glazing systems and industrial glass; automotive glass for displays, sensors and connected drive, windows, and trains; and glass substrates used for thin-film-transistor liquid crystal displays and OLEDs. It also provides synthetic fused silica glass, silicon carbides, CMP slurry, and through glass vias, and glass substrates for semiconductor packaging and anodic bonding; industrial PTFE composite materials and copper clad laminate; optical materials comprising high refractive index glass, DOE diffuser, wave plates, IR cut filter, aspherical glass lenses, micro lens array, and transmission grating; optical film, such as antireflection film, beam splitter, and interference filter; glass frit, pastes, and lid for hermetic sealing; tissue culture products; laboratory glassware; borosilicate glass tubes and rods; and heat resistant glassware.
In addition, the company offers chlor-alkali, polyurethanes, fluoro, and specialty chemical products; high thermal insulation ceramics wall for furnaces and fine ceramics; and plasma-resistant coating for semiconductor manufacturing equipment and plastic optical fiber.
Further, it provides contract development and manufacturing services for pharmaceutical and agrochemical components. The company was formerly known as Asahi Glass Co., Ltd. and changed its name to AGC Inc. in July 2018. AGC Inc. was founded in 1907 and is headquartered in Chiyoda, Japan.
Stock analysis
AGC Inc (ASGLY) currently trades at $6.23, while our model-based Fair Value estimate is $5.50, 12% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of $15.98 per share, and 5 of the 12 models we run sit above the $6.23 price.
Bear case: the DCF Models group reads lowest at $4.13, and 7 of the 12 models stay below the price. Data coverage for this calculation is high.
Scenario range: $2.93 (bear) to $7.50 (bull), the price of $6.23 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 57/100 (solid quality), in the Industrials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
AGC Inc ADR reported revenue of ¥2.2T in FY2025 versus ¥1.7T in FY2021, a compound +6.2%/yr. Reported net income was ¥72.5B in FY2025, compounding −12.5%/yr from FY2021.
Key figures
Market cap $6.9B Mid · P/E ratio 11.3 · P/S ratio 0.38 · EPS (TTM) $0.5500 · Dividend yield 3.7% · Net margin 3.4% · Return on equity 6.1% · Return on assets (EBIT) 5.5% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 33 out of 100 (medium confidence).
What moves the price
The share trades about 39% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at 8% fair-value upside, at −12%, ASGLY screens richer than that median.
Fair Value models
Bear$2.93Fair Value $5.50Bull$7.50
Price $6.23 · Downside -11.7%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then ($0.4716 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.73/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+4.4%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+2.0%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+8.9%
Start year 2020 (pandemic). Over 10 years: +5.0% a year
Revenue growth 20 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+1.7%
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What shareholders gained per year (last 5 years), in JPY ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in JPY: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+15.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year+11.3%
Dividend (yield on the price)3.7%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.11.3% vs 6.3%, picking up
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.5% → 6%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes about as much growth as the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+9.2%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+3.3%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in JPY, Japan: IMF forecast 2.1% a year to 2030, 1.3% from 2016 to 2025) that is about +6.9% a year for the price and +1.2% for the forecasts.
AI conclusion: The materials conglomerate gains from expanding its biologics CDMO operations and strategic business focus yet faces limited durable advantage together with weak profitability and high leverage.
Main risk: Low-cost producers from China could intensify price competition in architectural, automotive and display glass, squeezing margins for AGC's core glass segments.
Bull case: By accelerating its shift to high-value life sciences CDMO and electronics materials while adopting AI for efficiency, AGC could offset cyclical glass pressures and improve overall profitability.
Bear case: If low-cost competition persists and integration in new businesses faces delays, AGC might struggle to replace profits from pressured glass units, leading to prolonged weak margins across materials.
AGC is ramping up its biologics CDMO unit with fresh awards of multiple cell therapy projects at the Yokohama site. These add to strategic businesses already accounting for over half of group operating profit, while the group continues divesting non-core units to sharpen focus under its medium-term plan. Will the life sciences push deliver enough to offset cyclical pressures in glass and chemicals, or will integration challenges slow the shift?
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Conglomerates · 304 stocks
Beats the industry median on 8/15 measures
A mixed picture versus its industry peers.
Valuation
Quality Score57 · Above median
Fair Value upside−11.7% · Below median
Profitability
Return on equity (12 months)6.1% · Below median
Return on assets2.5% · Below median
Net margin (12 months)4.2% · Below median
Operating margin (12 months)4.3% · Below median
Growth and dividend
Revenue growth (quarter YoY)13.5% · Above median
Dividend yield (12 months)3.7% · Above median
Balance sheet
Debt / equity0.29× · Above median
Valuation Multiplesvs Conglomerates median · lower = cheaper
P/E (12 months)11.3× · Cheaper than median
P/B0.73× · Cheaper than median
P/S (12 months)0.50× · Cheaper than median
Price / free cash flow (fiscal year)16.0× · Pricier than median
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As of Nov 9, 2026, our model estimates a fair value of $5.50 versus a price of $6.23, about 12% lower (overvalued).
What is the fair value of ASGLY?
Our model-based fair value for AGC Inc is $5.50 (as of Nov 9, 2026), built from audited fundamentals. The current price: $6.23.
What is the quality score of ASGLY?
AGC Inc has a Quality Score of 57/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for AGC Inc (ASGLY)?
Our model-based price target is the fair value of $5.50 (as of Nov 9, 2026) from 12 valuation models. Cautious scenario $2.93, optimistic scenario $7.50. It is a calculation from audited fundamentals, not an analyst target.
What is the AGC Inc ADR stock forecast for 2026?
Our models put fair value at $5.50, about 12% lower versus a price of $6.23 (overvalued). Cautious scenario $2.93, optimistic scenario $7.50. The calculation is refreshed regularly with new filings.
What is the revenue of AGC Inc (ASGLY)?
AGC Inc reported trailing-twelve-month revenue of about ¥2.2T (latest available figure, as of Nov 9, 2026).
Does AGC Inc ADR pay a dividend?
AGC Inc currently shows a dividend yield of 3.72% relative to its recent price (as of Nov 9, 2026).
How much is the dividend of AGC Inc (ASGLY) and when is the ex-dividend date?
AGC Inc has a dividend yield of 3.7%. The last ex-dividend date was Jun 30, 2026. A dividend has been paid every year since at least 2001. The payout ratio is 53.7% of earnings. Free cash flow covers the dividend 1.75 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
What growth is priced into AGC Inc (ASGLY)?
For today's price to be fair in a discounted-cash-flow model, AGC Inc would have to grow free cash flow by +9.2 % per year for five years (discount rate 8.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +8.9 % per year. As of Nov 9, 2026.
What discount rate (WACC) does the fair value of ASGLY use?
Our models discount AGC Inc at 8.5 %: a base by market capitalisation (mid), damped by beta 0.43, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For AGC Inc that is +9.2 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (8.5 %) and the same formula as our fair value.
How much growth has AGC Inc (ASGLY) delivered so far?
Over the past 5 years revenue at AGC Inc grew +8.9 % a year. The price currently implies free-cash-flow growth of +9.2 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of AGC Inc (ASGLY) growing?
The median revenue growth in the sector is +9.8 % a year. That is the yardstick for the growth priced into AGC Inc (+9.2 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of AGC Inc (ASGLY)?
The free-cash-flow yield on the price is 6.52 %: that much free cash flow AGC Inc produces per unit of market value. When it exceeds the discount rate of our models (8.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of AGC Inc (ASGLY)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For AGC Inc it is $5.50 per share (as of Nov 9, 2026), against a price of $6.23. It is the blended result of 12 valuation models in 7 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit).
Is AGC Inc ADR stock overvalued or undervalued in 2026?
As of Nov 9, 2026, ASGLY trades above its calculated fair value: price $6.23, fair value $5.50, a gap of about −12% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of ASGLY?
No. The price is what the market pays today ($6.23); the fair value is what the company's own numbers justify ($5.50). For AGC Inc the two are $0.7300 per share apart. That gap is exactly why we show both numbers side by side.
How much is AGC Inc ADR worth?
The market values AGC Inc at about $6.9B (market capitalisation, as of Nov 9, 2026). Per share that is $6.23; our models calculate a fair value of $5.50 per share.
What do the bullish and bearish scenarios say about ASGLY?
Our models span a range for AGC Inc: cautious scenario $2.93, base $5.50, optimistic $7.50 per share (as of Nov 9, 2026, price $6.23). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of ASGLY?
AGC Inc trades at a price-to-earnings ratio of 11.3 (as of Nov 9, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $5.50 is built from several models across several years. Other multiples: PEG 0.1, P/B 0.7, P/S 0.5, EV/EBITDA 4.2.
What is the PEG ratio of ASGLY?
The PEG ratio of AGC Inc is 0.11 (P/E divided by earnings growth, as of Nov 9, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of AGC Inc (ASGLY)?
Balance-sheet figures for AGC Inc (as of Nov 9, 2026): return on equity 6.1%, debt of 0.29 per unit of equity. They feed the Quality Score of 57/100, which measures business quality independently of the share price.
How far is ASGLY from its 52-week high?
AGC Inc trades at $6.23, about 39% below its 52-week high of $10.16 and at the low of $6.20 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of $5.50 is for.
Which stocks are comparable to AGC Inc ADR?
From the same area (Industrials) we also value 3M Company, Honeywell International Inc, Swire Pacific Limited, SGH Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is AGC Inc ADR stock attractive at the current price?
The data as of Nov 9, 2026: price $6.23, calculated fair value $5.50 (−12%), Quality Score 57/100, from 12 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of ASGLY calculated?
We run AGC Inc through 12 models from 7 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit. Every model gets the same audited fundamentals; the fair value of $5.50 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. AGC Inc itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of AGC Inc (ASGLY)?
The closing price on Nov 6, 2026 was $6.23. Our model-based fair value is $5.50, about 12% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with AGC Inc ADR right now?
A fairly wide model range ($2.93 to $7.50) leaves room in how you read the outcome. The price sits in the upper half of our model range, so the margin of safety is thin. The data supports the verdict: every model runs on fully documented inputs.
Where does the earnings growth of AGC Inc (ASGLY) come from?
Earnings per share at AGC Inc grew +8.8 % a year from 2014 to 2025. Broken into its drivers: revenue per share +6.3 %, EBIT margin +0.8 %, tax rate +0.4 %, residual (interest, one-offs) +1.2 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of AGC Inc
How large is the market capitalisation of AGC Inc (ASGLY)?
The market capitalisation of AGC Inc is $6.9B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of AGC Inc (ASGLY)?
The price-to-sales ratio of AGC Inc is 0.38 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of AGC Inc (ASGLY)?
Earnings per share at AGC Inc are $0.5500 (price ÷ EPS = P/E 11.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of AGC Inc (ASGLY)?
The dividend yield of AGC Inc is 3.7% (payout 42.1%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of AGC Inc (ASGLY)?
The net margin of AGC Inc is 3.4% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of AGC Inc (ASGLY)?
The return on equity (ROE) of AGC Inc is 6.1% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of AGC Inc (ASGLY)?
On an EBIT basis the return on assets of AGC Inc is 5.5% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of AGC Inc (ASGLY)?
The operating margin of AGC Inc is 4.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at AGC Inc (ASGLY)?
Revenue at AGC Inc is growing +13.5% versus a year earlier (3y avg +2.0%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at AGC Inc (ASGLY)?
Earnings per share at AGC Inc are growing +74.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does AGC Inc (ASGLY) carry?
The net debt of AGC Inc is ¥552B (fiscal year 2025, ≈ 8.1 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Nov 9, 2026