Miwon Specialty Chemical Co Ltd (268280) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Miwon Specialty Chemical Co Ltd stock KRW 152,696, price KRW 132,000, upside +15.7%, quality 67 out of 100. Rating: undervalued. 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 5, 2026.
How to read this chart
60‑month range 94,326 KRW – 219,208 KRW · fair‑value band 97,883 KRW – 219,959 KRW · the 132,000 KRW price screens below the 152,696 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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Miwon Specialty Chemical Co., Ltd. engages in the manufacture and sales of energy-curing resins in Korea and internationally. The company is headquartered in Wanju-gun, South Korea.
Stock analysis
Miwon Specialty Chemical Co Ltd (268280) currently trades at 132,000 KRW, while our model-based Fair Value estimate is 152,696 KRW, implying the stock looks roughly 14% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 196,598 KRW per share, and 14 of the 26 models we run sit above the 132,000 KRW price.
Bear case: the Dividend Discount group reads lowest at 34,319 KRW, and 12 of the 26 models stay below the price. Data coverage for this calculation is high.
Scenario range: 97,883 KRW (bear) to 219,959 KRW (bull), the price of 132,000 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 67/100 (solid quality), in the Basic Materials sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Miwon Specialty Chemical Co Ltd reported revenue of 532B KRW in FY2025 versus 531B KRW in FY2021, a compound +0.0%/yr. Reported net income was 61.3B KRW in FY2025, compounding −6.4%/yr from FY2021.
Key figures
Market cap 637B KRW (≈ $471M) Small · P/E ratio 7.2 · P/S ratio 1.13 · EPS (TTM) 18,250 KRW · Dividend yield 2.6% · Net margin 15.5% · Return on equity 19.1% · Return on assets (EBIT) 13.4% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 66 out of 100 (low confidence).
What moves the price
The share trades about 8% below its 52-week high and 40% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −24% fair-value upside, at 16%, 268280 screens cheaper than that median.
Fair Value models
Bear97,883 KRWFair Value 152,696 KRWBull219,959 KRW
Price 132,000 KRW · Upside +15.7%
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 (12,734 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.
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.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+4.5%
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.
−4.5%
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.
+7.4%
Start year 2020 (pandemic)
Revenue growth 8 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.
+12.4%
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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.
+13.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+10.8%
Dividend (yield on the price)2.6%
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.13% → 12%
Growth Forecast
A lot of optimism in the price
The price assumes more growth than 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).
+14.0%
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 +11.7% a year for the price.
Compare Miwon Specialty Chemical Co Ltd with another stock
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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 · 337 stocks
Beats the industry median on 12/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score67 · Top 25%
Fair Value upside+15.7% · Above median
Profitability
Return on equity (12 months)19.1% · Top 25%
Return on assets11.2% · Top 25%
Net margin (12 months)15.5% · Top 25%
Operating margin (12 months)22.8% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)20.8% · Above median
Dividend yield (12 months)2.6% · Above median
Balance sheet
Debt / equity0.02× · Lowest 25%
Valuation Multiplesvs Chemicals median · lower = cheaper
P/E (12 months)7.2× · Cheapest 25%
P/B1.42× · Pricier than median
P/S (12 months)1.13× · Cheaper than median
Price / free cash flow (fiscal year)20.3× · Pricier than median
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Cite: Fair Value Calculator (2026). "Miwon Specialty Chemical Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/268280
Frequently asked questions
Is Miwon Specialty Chemical Co Ltd (268280) overvalued or undervalued?
As of Nov 5, 2026, our model estimates a fair value of 152,696 KRW versus a price of 132,000 KRW, about +16% upside (undervalued).
What is the fair value of 268280?
Our model-based fair value for Miwon Specialty Chemical Co Ltd is 152,696 KRW (as of Nov 5, 2026), built from audited fundamentals. The current price: 132,000 KRW.
What is the quality score of 268280?
Miwon Specialty Chemical Co Ltd has a Quality Score of 67/100. 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 Specialty Chemical Co Ltd (268280)?
Our model-based price target is the fair value of 152,696 KRW (as of Nov 5, 2026) from 26 valuation models. Cautious scenario 97,883 KRW, optimistic scenario 219,959 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Miwon Specialty Chemical Co Ltd stock forecast for 2026?
Our models put fair value at 152,696 KRW, about +16% upside versus a price of 132,000 KRW (undervalued). Cautious scenario 97,883 KRW, optimistic scenario 219,959 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Miwon Specialty Chemical Co Ltd (268280)?
Miwon Specialty Chemical Co Ltd reported trailing-twelve-month revenue of about 564B KRW (latest available figure, as of Nov 5, 2026).
Does Miwon Specialty Chemical Co Ltd pay a dividend?
Miwon Specialty Chemical Co Ltd currently shows a dividend yield of 2.58% relative to its recent price (as of Nov 5, 2026).
How much is the dividend of Miwon Specialty Chemical Co Ltd (268280) and when is the ex-dividend date?
Miwon Specialty Chemical Co Ltd pays a dividend of 3,400 KRW per share a year, a dividend yield of 2.6%. The last ex-dividend date was Jun 29, 2026. A dividend has been paid every year since at least 2017. The payout ratio is 18.6% of earnings. Free cash flow covers the dividend 1.93 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 Specialty Chemical Co Ltd (268280)?
For today's price to be fair in a discounted-cash-flow model, Miwon Specialty Chemical Co Ltd would have to grow free cash flow by +14.0 % 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 +7.4 % per year. As of Nov 5, 2026.
What discount rate (WACC) does the fair value of 268280 use?
Our models discount Miwon Specialty Chemical Co Ltd at 11.6 %: a base by market capitalisation (small), 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 Specialty Chemical Co Ltd that is +14.0 % 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 Specialty Chemical Co Ltd (268280) delivered so far?
Over the past 5 years revenue at Miwon Specialty Chemical Co Ltd grew +7.4 % a year. The price currently implies free-cash-flow growth of +14.0 % 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 Specialty Chemical Co Ltd (268280) growing?
The median revenue growth in the sector is +9.8 % a year. That is the yardstick for the growth priced into Miwon Specialty Chemical Co Ltd (+14.0 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Miwon Specialty Chemical Co Ltd (268280)?
The free-cash-flow yield on the price is 4.93 %: that much free cash flow Miwon Specialty Chemical Co Ltd 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 Specialty Chemical Co Ltd (268280)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Miwon Specialty Chemical Co Ltd it is 152,696 KRW per share (as of Nov 5, 2026), against a price of 132,000 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 Specialty Chemical Co Ltd stock overvalued or undervalued in 2026?
As of Nov 5, 2026, 268280 trades below its calculated fair value: price 132,000 KRW, fair value 152,696 KRW, a gap of about +16% (undervalued). 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 268280?
No. The price is what the market pays today (132,000 KRW); the fair value is what the company's own numbers justify (152,696 KRW). For Miwon Specialty Chemical Co Ltd the two are 20,696 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Miwon Specialty Chemical Co Ltd worth?
The market values Miwon Specialty Chemical Co Ltd at about 637B KRW (market capitalisation, as of Nov 5, 2026). Per share that is 132,000 KRW; our models calculate a fair value of 152,696 KRW per share.
What do the bullish and bearish scenarios say about 268280?
Our models span a range for Miwon Specialty Chemical Co Ltd: cautious scenario 97,883 KRW, base 152,696 KRW, optimistic 219,959 KRW per share (as of Nov 5, 2026, price 132,000 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 268280?
Miwon Specialty Chemical Co Ltd trades at a price-to-earnings ratio of 7.2 (as of Nov 5, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 152,696 KRW is built from several models across several years. Median P/E at fiscal year-end, 9 fiscal years (2017 to 2025), reported earnings: 13.4. Other multiples: P/B 1.4, P/S 1.1, EV/EBITDA 5.4.
How solid is the balance sheet of Miwon Specialty Chemical Co Ltd (268280)?
Balance-sheet figures for Miwon Specialty Chemical Co Ltd (as of Nov 5, 2026): return on equity 19.1%, debt of 0.02 per unit of equity. They feed the Quality Score of 67/100, which measures business quality independently of the share price.
How far is 268280 from its 52-week high?
Miwon Specialty Chemical Co Ltd trades at 132,000 KRW, about 8% below its 52-week high of 142,863 KRW and 40% above the low of 94,326 KRW (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 152,696 KRW is for.
Which stocks are comparable to Miwon Specialty Chemical Co Ltd?
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 Specialty Chemical Co Ltd stock attractive at the current price?
The data as of Nov 5, 2026: price 132,000 KRW, calculated fair value 152,696 KRW (+16%), Quality Score 67/100, 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 268280 calculated?
We run Miwon Specialty Chemical Co Ltd 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 152,696 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 Specialty Chemical Co Ltd currently trades 14% below its own fair value, and the market average says nothing about that. 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 Specialty Chemical Co Ltd (268280)?
The closing price on Nov 6, 2026 was 132,000 KRW. Our model-based fair value is 152,696 KRW, about +16% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Miwon Specialty Chemical Co Ltd right now?
A fairly wide model range (97,883 KRW to 219,959 KRW) leaves room in how you read the outcome. The price sits in the lower half of our model range, the side with the larger margin of safety. The data supports the verdict: every model runs on fully documented inputs.
Key figures of Miwon Specialty Chemical Co Ltd
How large is the market capitalisation of Miwon Specialty Chemical Co Ltd (268280)?
The market capitalisation of Miwon Specialty Chemical Co Ltd is 637B KRW (≈ $471M). 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 Specialty Chemical Co Ltd (268280)?
The price-to-sales ratio of Miwon Specialty Chemical Co Ltd is 1.13 (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 Specialty Chemical Co Ltd (268280)?
Earnings per share at Miwon Specialty Chemical Co Ltd are 18,250 KRW (price ÷ EPS = P/E 7.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Miwon Specialty Chemical Co Ltd (268280)?
The dividend yield of Miwon Specialty Chemical Co Ltd is 2.6% (payout 18.6%). 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 Specialty Chemical Co Ltd (268280)?
The net margin of Miwon Specialty Chemical Co Ltd is 15.5% (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 Miwon Specialty Chemical Co Ltd (268280)?
The return on equity (ROE) of Miwon Specialty Chemical Co Ltd is 19.1% (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 Miwon Specialty Chemical Co Ltd (268280)?
On an EBIT basis the return on assets of Miwon Specialty Chemical Co Ltd is 13.4% (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 Specialty Chemical Co Ltd (268280)?
The operating margin of Miwon Specialty Chemical Co Ltd is 22.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Miwon Specialty Chemical Co Ltd (268280)?
Revenue at Miwon Specialty Chemical Co Ltd is growing +20.8% versus a year earlier (3y avg −4.5%). 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 Specialty Chemical Co Ltd (268280)?
Earnings per share at Miwon Specialty Chemical Co Ltd are growing +179% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Miwon Specialty Chemical Co Ltd (268280) carry?
The net debt of Miwon Specialty Chemical Co Ltd is 3.5B KRW (fiscal year 2018, ≈ 0.1 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 5, 2026