Miwon Chemical (134380) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of Miwon Chemical stock KRW 11,285, price KRW 11,700, that is 3.5% below the price, quality 61 out of 100. Rating: fairly valued. Calculated from audited financials with 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 7, 2026.
How to read this chart
60‑month range 4,835 KRW – 115,656 KRW · fair‑value band 6,769 KRW – 16,673 KRW · the 11,700 KRW price screens above the 11,285 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.
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Miwon Chemicals Co., Ltd. develops, manufactures, and sells performance chemicals for use in the rubber, detergent, and personal care industries worldwide. Its products include sulfurs; sulfuric acids; sulphonic acid; alkyl sulfates; and rubber chemicals.
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Miwon Chemicals Co., Ltd. was founded in 1959 and is headquartered in Anyang-si, South Korea.
Stock analysis
Miwon Chemical (134380) currently trades at 11,700 KRW, while our model-based Fair Value estimate is 11,285 KRW, so the stock looks roughly fairly valued today (gap 3.7%).
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Valuation
Bull case: the Multiples group reads highest at a median of 21,801 KRW per share, and 17 of the 26 models we run sit above the 11,700 KRW price.
Bear case: the Asset-Based group reads lowest at 4,955 KRW, and 9 of the 26 models stay below the price. Data coverage for this calculation is high.
Scenario range: 6,769 KRW (bear) to 16,673 KRW (bull), the price of 11,700 KRW 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 61/100 (solid quality), in the Basic Materials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Miwon Chemical reported revenue of 285B KRW in FY2025 versus 197B KRW in FY2021, a compound +9.6%/yr. Reported net income was 24.7B KRW in FY2025, compounding +21.5%/yr from FY2021.
Key figures
Market cap 230B KRW (≈ $170M) Micro · P/E ratio 5.4 · P/S ratio 0.67 · EPS (TTM) 2,120 KRW · Dividend yield 4.3% · Net margin 12.0% · Return on equity 22.5% · Return on assets (EBIT) 13.5% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 70 out of 100 (low confidence).
What moves the price
The share trades about 90% below its 52-week high and 45% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −25% fair-value upside, at −4%, 134380 screens cheaper than that median.
Fair Value models
Bear6,769 KRWFair Value 11,285 KRWBull16,673 KRW
Price 11,700 KRW · Downside -3.5%
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 (1,389 KRW 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.
Best data coverage
FCF DCF6,645 KRW9,567 KRW13,581 KRW79
Growth DCF6,616 KRW9,288 KRW12,775 KRW76
Residual Income8,142 KRW9,498 KRW12,892 KRW76
All 26 models by family
DCF Models
FCF DCF6,645 KRW9,567 KRW13,581 KRW79
Owner Earnings7,680 KRW11,126 KRW15,859 KRW74
5Y Revenue Exit11,009 KRW18,748 KRW29,012 KRW69
5Y EBITDA Exit12,026 KRW20,729 KRW31,275 KRW71
5Y P/E Exit11,862 KRW20,408 KRW29,764 KRW67
10Y Revenue Exit8,733 KRW14,865 KRW23,749 KRW63
10Y EBITDA Exit9,665 KRW16,113 KRW25,342 KRW64
10Y P/E Exit9,570 KRW15,911 KRW24,278 KRW60
Earnings-Based
Graham-Dodd8,673 KRW32,622 KRW44,133 KRW64
Lynch FV7,883 KRW11,262 KRW14,640 KRW61
PEG = 1.07,883 KRW11,262 KRW14,640 KRW57
EPV10,477 KRW11,715 KRW12,734 KRW70
Dividend Discount
Gordon GGM2,982 KRW5,195 KRW6,953 KRW68
DDM Multi-Stage2,982 KRW4,830 KRW5,569 KRW67
Multiples
P/E Multiple16,261 KRW21,681 KRW27,102 KRW63
P/S Multiple16,261 KRW21,681 KRW27,102 KRW58
P/B Multiple20,075 KRW26,767 KRW33,458 KRW55
EV/EBIT16,658 KRW21,921 KRW27,184 KRW63
EV/EBITDA17,439 KRW22,963 KRW28,486 KRW64
EV/Revenue14,553 KRW20,418 KRW26,282 KRW51
Asset-Based
NCAV (Graham)3,271 KRW4,955 KRW6,194 KRW52
Growth DCF
Growth DCF6,616 KRW9,288 KRW12,775 KRW76
Rev-Margin DCF11,009 KRW18,555 KRW27,648 KRW69
Economic Profit
Residual Income8,142 KRW9,498 KRW12,892 KRW76
ROIC Compounder10,868 KRW13,083 KRW15,712 KRW70
Growth Earnings
Growth-Adj P/E12,819 KRW18,312 KRW23,806 KRW67
The fair value above starts from this blend and is adjusted for a cyclical peak year.
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.82/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+11.1%
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.
+6.6%
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.
+12.2%
Start year 2020 (pandemic). Over 10 years: +6.9% a year
Revenue growth 12 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.
+5.8%
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What shareholders gained per year (last 5 years), in KRW ⓘ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 KRW: 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.
−24.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year−28.4%
Dividend (yield on the price)4.3%
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.−28.4% vs −14.7%, slowing
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.10% → 10%
Pace: the 5-year rate starts in 2020 (pandemic)
⚠ Revenue per share shrinking 22.0%/yr over ~7Y (margins intact) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Growth Forecast
Price in line with expectations
The price assumes about as much growth as the company has delivered so far.
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).
+12.0%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (South Korea: IMF forecast 2.1% a year to 2030, 2.1% from 2016 to 2025) that is about +9.7% a year for the price.
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.Chemicals · 340 stocks
Beats the industry median on 13/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score61 · Above median
Fair Value upside−3.5% · Above median
Profitability
Return on equity (12 months)22.5% · Top 25%
Return on assets12.6% · Top 25%
Net margin (12 months)12.0% · Top 25%
Operating margin (12 months)23.1% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)50.3% · Top 25%
Dividend yield (12 months)4.3% · Top 25%
Valuation Multiplesvs Chemicals median · lower = cheaper
P/E (12 months)5.4× · Cheapest 25%
P/B1.33× · Cheaper than median
P/S (12 months)0.67× · Cheaper than median
Price / free cash flow (fiscal year)19.2× · Cheaper than median
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Miwon Chemical Fair Value". https://www.fairvalue-calculator.com/stock/134380
Frequently asked questions
Is Miwon Chemical (134380) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of 11,285 KRW versus a price of 11,700 KRW, about 4% lower (fairly valued).
What is the fair value of 134380?
Our model-based fair value for Miwon Chemical is 11,285 KRW (as of Nov 7, 2026), built from audited fundamentals. The current price: 11,700 KRW.
What is the quality score of 134380?
Miwon Chemical has a Quality Score of 61/100. 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 Miwon Chemical (134380)?
Our model-based price target is the fair value of 11,285 KRW (as of Nov 7, 2026) from 26 valuation models. Cautious scenario 6,769 KRW, optimistic scenario 16,673 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Miwon Chemical stock forecast for 2026?
Our models put fair value at 11,285 KRW, about 4% lower versus a price of 11,700 KRW (fairly valued). Cautious scenario 6,769 KRW, optimistic scenario 16,673 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Miwon Chemical (134380)?
Miwon Chemical reported trailing-twelve-month revenue of about 342B KRW (latest available figure, as of Nov 7, 2026).
Does Miwon Chemical pay a dividend?
Miwon Chemical currently shows a dividend yield of 4.27% relative to its recent price (as of Nov 7, 2026).
How much is the dividend of Miwon Chemical (134380) and when is the ex-dividend date?
Miwon Chemical pays a dividend of 500.00 KRW per share a year, a dividend yield of 4.3%. The last ex-dividend date was Jun 29, 2026. A dividend has been paid every year since at least 2014. The payout ratio is 23.6% of earnings. Free cash flow covers the dividend 1.24 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 Miwon Chemical (134380)?
For today's price to be fair in a discounted-cash-flow model, Miwon Chemical would have to grow free cash flow by +12.0 % per year for five years (discount rate 11.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +12.2 % per year. As of Nov 7, 2026.
What discount rate (WACC) does the fair value of 134380 use?
Our models discount Miwon Chemical at 11.6 %: a base by market capitalisation (micro), damped by beta 0.16, country premium for South Korea. 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 Miwon Chemical that is +12.0 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (11.6 %) and the same formula as our fair value.
How much growth has Miwon Chemical (134380) delivered so far?
Over the past 5 years revenue at Miwon Chemical grew +12.2 % a year. The price currently implies free-cash-flow growth of +12.0 % 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 Miwon Chemical (134380) growing?
The median revenue growth in the sector is +9.8 % a year. That is the yardstick for the growth priced into Miwon Chemical (+12.0 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Miwon Chemical (134380)?
The free-cash-flow yield on the price is 5.20 %: that much free cash flow Miwon Chemical produces per unit of market value. When it exceeds the discount rate of our models (11.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Miwon Chemical (134380)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Miwon Chemical it is 11,285 KRW per share (as of Nov 7, 2026), against a price of 11,700 KRW. It is the blended result of 26 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Miwon Chemical stock overvalued or undervalued in 2026?
As of Nov 7, 2026, 134380 trades above its calculated fair value: price 11,700 KRW, fair value 11,285 KRW, a gap of about −4% (fairly valued). 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 134380?
No. The price is what the market pays today (11,700 KRW); the fair value is what the company's own numbers justify (11,285 KRW). For Miwon Chemical the two are 415.07 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Miwon Chemical worth?
The market values Miwon Chemical at about 230B KRW (market capitalisation, as of Nov 7, 2026). Per share that is 11,700 KRW; our models calculate a fair value of 11,285 KRW per share.
What do the bullish and bearish scenarios say about 134380?
Our models span a range for Miwon Chemical: cautious scenario 6,769 KRW, base 11,285 KRW, optimistic 16,673 KRW per share (as of Nov 7, 2026, price 11,700 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 134380?
Miwon Chemical trades at a price-to-earnings ratio of 5.4 (as of Nov 7, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 11,285 KRW is built from several models across several years. Other multiples: P/B 1.3, P/S 0.7, EV/EBITDA 3.5.
How solid is the balance sheet of Miwon Chemical (134380)?
Balance-sheet figures for Miwon Chemical (as of Nov 7, 2026): return on equity 22.5%. They feed the Quality Score of 61/100, which measures business quality independently of the share price.
How far is 134380 from its 52-week high?
Miwon Chemical trades at 11,700 KRW, about 90% below its 52-week high of 115,656 KRW and 45% above the low of 8,052 KRW (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of 11,285 KRW is for.
Which stocks are comparable to Miwon Chemical?
From the same area (Basic Materials) we also value BASF SE, Saudi Basic Industries Corporation, Dow Inc, Ningxia Baofeng Energy Group, 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 Miwon Chemical stock attractive at the current price?
The data as of Nov 7, 2026: price 11,700 KRW, calculated fair value 11,285 KRW (−4%), Quality Score 61/100, from 26 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 134380 calculated?
We run Miwon Chemical through 26 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 11,285 KRW 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. Miwon Chemical 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 Miwon Chemical (134380)?
The closing price on Nov 9, 2026 was 11,700 KRW. Our model-based fair value is 11,285 KRW, about 4% lower (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Miwon Chemical right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range (6,769 KRW to 16,673 KRW) leaves room in how you read the outcome.
Key figures of Miwon Chemical
How large is the market capitalisation of Miwon Chemical (134380)?
The market capitalisation of Miwon Chemical is 230B KRW (≈ $170M). 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 Miwon Chemical (134380)?
The price-to-sales ratio of Miwon Chemical is 0.67 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Miwon Chemical (134380)?
Earnings per share at Miwon Chemical are 2,120 KRW (price ÷ EPS = P/E 5.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Miwon Chemical (134380)?
The dividend yield of Miwon Chemical is 4.3% (payout 23.6%). 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 Miwon Chemical (134380)?
The net margin of Miwon Chemical is 12.0% (last twelve months). 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 Miwon Chemical (134380)?
The return on equity (ROE) of Miwon Chemical is 22.5% (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 Miwon Chemical (134380)?
On an EBIT basis the return on assets of Miwon Chemical is 13.5% (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 Miwon Chemical (134380)?
The operating margin of Miwon Chemical is 23.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Miwon Chemical (134380)?
Revenue at Miwon Chemical is growing +50.3% versus a year earlier (3y avg +6.6%). 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 Miwon Chemical (134380)?
Earnings per share at Miwon Chemical are growing +242% versus a year earlier. How much earnings per share grew versus a year earlier.
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Broad data
Nov 7, 2026