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Data-driven stock valuation

ST Pharm Co.Ltd (237690) fair value: what the stock is really worth

As of Nov 9, 2026: fair value (intrinsic value) of ST Pharm Co.Ltd stock KRW 61,182, price KRW 71,500, that is 14.4% below the price, quality 45 out of 100. Rating: overvalued. Calculated from audited financials with 16 of our 26 valuation models and 37 quality factors, updated daily.

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Healthcare KR · ISIN KR7237690003

SP ST Pharm Co.Ltd logo Some data Nov 5, 2026

ST Pharm Co.Ltd

237690 · KQ
Expensive, weak quality

Our calculation puts a fair price 14% below what the stock costs today.

Low debt
Generates free cash flow over the last twelve months
Last quarter vs. a year ago: revenue +31%, profit +35%.
Quality 45/100
Expensive Growth (revenue 5y +21.7 %/yr in KRW)
Thin margins · 5.5% net margin (TTM)
0.3% dividend yield · Safety not assessed
Some data
Fair value 61,182 KRW · Overvalued
Trails peers (4/11)
Narrow moat 40/100 · thin data
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What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

168,700 KRW 59,476 KRW Fair Value 61,182 KRW Jun 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 5, 2026.

How to read this chart

60‑month range 59,476 KRW – 168,700 KRW · fair‑value band 45,270 KRW – 77,093 KRW · the 71,500 KRW price screens above the 61,182 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 5, 2026.

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Company profile

ST Pharm Co. Ltd., a contract development manufacturing organization, provides products for pharmaceutical and non-pharmaceutical area in South Korea.

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The company offers chemistry manufacturing control (CMC) services, which includes analytical method development; in-house reference standard testing; analytical method qualification/validation; analytical characterization; and CMC documentation.

It also provides oligonucleotide based products, such as antisense, siRNA, miRNA, aptamer, CpG, decoy, and other products; and monomer/phosphoramidite.

In addition, the company offers generic APIs for anti-cancer, anti-coagulant, anti-fungal, anti-hyperlipidemia, anti-hypertensive, anti-tuberculosis, asthma, COPD, cough suppressant, diabetes mellitus, epilepsy, hepatitis B, and erectile dysfunction medicines, as well as MRI contrast agents.

Further, it provides 2nd battery, electronic materials, and polymer catalysts. The company was formerly known as Samchully Pharmaceutical Company., Ltd. ST Pharm Co. Ltd. was founded in 1983 and is based in Seoul, South Korea.

Stock analysis

ST Pharm Co.Ltd (237690) currently trades at 71,500 KRW, while our model-based Fair Value estimate is 61,182 KRW, 14% below the price, so the stock looks overvalued today.

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Valuation

Bull case: the Growth Earnings group reads highest at a median of 73,028 KRW per share, and 3 of the 16 models we run sit above the 71,500 KRW price.

Bear case: the Dividend Discount group reads lowest at 6,925 KRW, and 13 of the 16 models stay below the price. Data coverage for this calculation is medium.

Scenario range: 45,270 KRW (bear) to 77,093 KRW (bull), the price of 71,500 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 45/100 (below-average quality), in the Healthcare sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

ST Pharm Co.Ltd reported revenue of 332B KRW in FY2025 versus 166B KRW in FY2021, a compound +19.0%/yr. Reported net income was 55.0B KRW in FY2025, compounding +101.9%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.

Key figures

Market cap 1.8T KRW (≈ $1.3B) Small · P/S ratio 8.74 · Dividend yield 0.3% · Net margin 5.5% · Return on equity 667% · Return on assets (EBIT) 4.0% (5-year average) · Operating margin 4.0% · Revenue (TTM) 201B KRW.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 40 out of 100 (low confidence).

What moves the price

The share trades about 58% below its 52-week high and at its 52-week low, currently below its 200-day average.

For context, the median of 10 Healthcare peers we cover trades at −37% fair-value upside, at −14%, 237690 screens cheaper than that median.

Fair Value models

Bear 45,270 KRW Fair Value 61,182 KRW Bull 77,093 KRW
Price 71,500 KRW · Downside -14.4%
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. 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
Residual Income 25,385 KRW 27,011 KRW 30,526 KRW 76
EPV 19,901 KRW 22,615 KRW 24,860 KRW 74
ROIC Compounder 19,901 KRW 22,615 KRW 24,860 KRW 72
All 16 models by family
Earnings-Based
Graham-Dodd 20,044 KRW 120,820 KRW 168,432 KRW 63
Lynch FV 34,479 KRW 49,256 KRW 64,032 KRW 61
PEG = 1.0 34,479 KRW 49,256 KRW 64,032 KRW 57
EPV 19,901 KRW 22,615 KRW 24,860 KRW 74
Dividend Discount
Gordon GGM 4,079 KRW 7,201 KRW 9,744 KRW 68
DDM Multi-Stage 4,079 KRW 6,649 KRW 7,709 KRW 67
Multiples
P/E Multiple 48,637 KRW 64,849 KRW 81,061 KRW 63
P/S Multiple 37,583 KRW 50,110 KRW 62,638 KRW 58
P/B Multiple 82,045 KRW 109,394 KRW 136,742 KRW 55
EV/EBIT 35,077 KRW 47,591 KRW 60,106 KRW 66
EV/EBITDA 45,270 KRW 61,182 KRW 77,093 KRW 67
EV/Revenue 24,330 KRW 35,813 KRW 47,297 KRW 53
Asset-Based
NCAV (Graham) 6,493 KRW 9,838 KRW 12,298 KRW 54
Economic Profit
Residual Income 25,385 KRW 27,011 KRW 30,526 KRW 76
ROIC Compounder 19,901 KRW 22,615 KRW 24,860 KRW 72
Growth Earnings
Growth-Adj P/E 51,119 KRW 73,028 KRW 94,936 KRW 67

Open the full fair value analysis →

Quality Score breakdown

Overall quality 45/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 44
How much profit the company makes from its sales and capital
Quality Growth 77
Are margins and returns getting better?
Cashflow 7
Do the profits arrive as real cash?
Financial strength 73
Debt, balance sheet and risk of trouble
Investment 26
Does it invest with discipline instead of growing at any price?
Low Volatility 34
How calm the share price moves, does not count
Price momentum 15
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 2
Distance to the 52-week high, does not count
New shares 52
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

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. 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+21.2%
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.
+10.0%
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.
+21.7%
Start year 2020 (pandemic). Over 10 years: +9.2% a year
Revenue growth 10 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.
+9.2%
What shareholders gained per year (last 5 years), in KRW (mathematically smoothed) ⓘ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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. 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.
≈ +62.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year≈ +62.6%
Dividend (yield on the price)0.3%
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.base effect: 72.1% / −2.2%
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.−15% → 17%
2025 sits 155% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
⚠ Base effect: the rate starts in the earnings trough around 2020 (starting value 176 per share, median 2412 in 2016 to 2018). It measures the recovery from the trough, not lasting growth.

237690 screens overvalued: fair value 14% below the price. Compare with Caregen Co →

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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.Pharmaceuticals · 54 stocks

Beats the industry median on 4/11 measures
Overall it trails its industry peers.
Valuation
Quality Score 45 · Below median
Fair Value upside −14.4% · Above median
Profitability
Return on assets 7.0% · Top 25%
Net margin (12 months) 5.5% · Above median
Operating margin (12 months) 4.0% · Below median
Growth and dividend
Revenue growth (quarter YoY) 31.4% · Above median
Dividend yield (12 months) 0.3% · Bottom 25%
Balance sheet
Debt / equity 0.07× · Above median

Valuation Multiplesvs Pharmaceuticals median · lower = cheaper

P/B 2.96× · Priciest 25%
P/S (12 months) 8.74× · Priciest 25%
EV/EBITDA 75.3× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)14 · sector 13
FUTURE (revenue growth)100 · sector 51
PAST (return on equity)0 · sector 15
HEALTH (low debt)96 · sector 98
DIVIDEND (yield)7 · sector 26

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Pharmaceuticals stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Kolon Life Science Inc 102940 12,450 KRW 37,195 KRW +199% vs 237690
Huons Global Co 084110 18,880 KRW 47,019 KRW +149% vs 237690
DongKook Pharmaceutical Co 086450 23,350 KRW 28,372 KRW +22% vs 237690
VIKRAMTH VIKRAMTH ₹324.45 ₹351.29 +8% vs 237690
EURO EURO 1.26 PHP 0.8000 PHP −37% vs 237690
Oscotec Inc 039200 36,150 KRW 21,262 KRW −41% vs 237690
BINEX Co 053030 6,140 KRW 1,844 KRW −70% vs 237690
ISU Abxis Co 086890 3,335 KRW 727.12 KRW −78% vs 237690
Caregen Co 214370 27,500 KRW 5,414 KRW −80% vs 237690
SHUKRAPHAR SHUKRAPHAR ₹82.11 ₹9.14 −89% vs 237690

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ST Pharm Co.Ltd: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "ST Pharm Co.Ltd Fair Value". https://www.fairvalue-calculator.com/stock/237690

Frequently asked questions

Is ST Pharm Co.Ltd (237690) overvalued or undervalued?
As of Nov 5, 2026, our model estimates a fair value of 61,182 KRW versus a price of 71,500 KRW, about 14% lower (overvalued).
What is the fair value of 237690?
Our model-based fair value for ST Pharm Co.Ltd is 61,182 KRW (as of Nov 5, 2026), built from audited fundamentals. The current price: 71,500 KRW.
What is the quality score of 237690?
ST Pharm Co.Ltd has a Quality Score of 45/100. 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 ST Pharm Co.Ltd (237690)?
Our model-based price target is the fair value of 61,182 KRW (as of Nov 5, 2026) from 16 valuation models. Cautious scenario 45,270 KRW, optimistic scenario 77,093 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the ST Pharm Co.Ltd stock forecast for 2026?
Our models put fair value at 61,182 KRW, about 14% lower versus a price of 71,500 KRW (overvalued). Cautious scenario 45,270 KRW, optimistic scenario 77,093 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of ST Pharm Co.Ltd (237690)?
ST Pharm Co.Ltd reported trailing-twelve-month revenue of about 201B KRW (latest available figure, as of Nov 5, 2026).
Does ST Pharm Co.Ltd pay a dividend?
ST Pharm Co.Ltd currently shows a dividend yield of 0.34% relative to its recent price (as of Nov 5, 2026).
How much is the dividend of ST Pharm Co.Ltd (237690)?
ST Pharm Co.Ltd has a dividend yield of 0.3%. Our assessment: Safety not assessed. Payout ratio and cash coverage are not available, so we do not judge how safe this dividend is.
What is the intrinsic value of ST Pharm Co.Ltd (237690)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For ST Pharm Co.Ltd it is 61,182 KRW per share (as of Nov 5, 2026), against a price of 71,500 KRW. It is the blended result of 16 valuation models in 6 families (Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is ST Pharm Co.Ltd stock overvalued or undervalued in 2026?
As of Nov 5, 2026, 237690 trades above its calculated fair value: price 71,500 KRW, fair value 61,182 KRW, a gap of about −14% (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 237690?
No. The price is what the market pays today (71,500 KRW); the fair value is what the company's own numbers justify (61,182 KRW). For ST Pharm Co.Ltd the two are 10,318 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is ST Pharm Co.Ltd worth?
The market values ST Pharm Co.Ltd at about 1.8T KRW (market capitalisation, as of Nov 5, 2026). Per share that is 71,500 KRW; our models calculate a fair value of 61,182 KRW per share.
What do the bullish and bearish scenarios say about 237690?
Our models span a range for ST Pharm Co.Ltd: cautious scenario 45,270 KRW, base 61,182 KRW, optimistic 77,093 KRW per share (as of Nov 5, 2026, price 71,500 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of ST Pharm Co.Ltd (237690)?
Balance-sheet figures for ST Pharm Co.Ltd (as of Nov 5, 2026): debt of 0.07 per unit of equity. They feed the Quality Score of 45/100, which measures business quality independently of the share price.
How far is 237690 from its 52-week high?
ST Pharm Co.Ltd trades at 71,500 KRW, about 58% below its 52-week high of 168,700 KRW and at the low of 71,400 KRW (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of 61,182 KRW is for.
Which stocks are comparable to ST Pharm Co.Ltd?
From the same area (Healthcare) we also value Caregen Co, Oscotec Inc, DongKook Pharmaceutical Co, SHUKRAPHAR, 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 ST Pharm Co.Ltd stock attractive at the current price?
The data as of Nov 5, 2026: price 71,500 KRW, calculated fair value 61,182 KRW (−14%), Quality Score 45/100, from 16 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 237690 calculated?
We run ST Pharm Co.Ltd through 16 models from 6 families: Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 61,182 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. ST Pharm Co.Ltd 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 ST Pharm Co.Ltd (237690)?
The closing price on Nov 9, 2026 was 71,500 KRW. Our model-based fair value is 61,182 KRW, about 14% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with ST Pharm Co.Ltd right now?
The price sits in the upper half of our model range, so the margin of safety is thin. Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.

Key figures of ST Pharm Co.Ltd

How large is the market capitalisation of ST Pharm Co.Ltd (237690)?
The market capitalisation of ST Pharm Co.Ltd is 1.8T KRW (≈ $1.3B). 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 ST Pharm Co.Ltd (237690)?
The price-to-sales ratio of ST Pharm Co.Ltd is 8.74 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the dividend yield of ST Pharm Co.Ltd (237690)?
The dividend yield of ST Pharm Co.Ltd is 0.3%. 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 ST Pharm Co.Ltd (237690)?
The net margin of ST Pharm Co.Ltd is 5.5% (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 ST Pharm Co.Ltd (237690)?
The return on equity (ROE) of ST Pharm Co.Ltd is 667% (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 ST Pharm Co.Ltd (237690)?
On an EBIT basis the return on assets of ST Pharm Co.Ltd is 4.0% (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 ST Pharm Co.Ltd (237690)?
The operating margin of ST Pharm Co.Ltd is 4.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at ST Pharm Co.Ltd (237690)?
Revenue at ST Pharm Co.Ltd is growing +31.4% versus a year earlier (3y avg +10.0%). 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 ST Pharm Co.Ltd (237690)?
Earnings per share at ST Pharm Co.Ltd are growing +34.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does ST Pharm Co.Ltd (237690) generate?
The free cash flow of ST Pharm Co.Ltd is −33.3B KRW (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does ST Pharm Co.Ltd (237690) carry?
The net debt of ST Pharm Co.Ltd is 46.0B KRW (fiscal year 2025). 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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