Kuraray Co. Ltd (KURRF) fair value: what the stock is really worth
As of Oct 30, 2026: fair value (intrinsic value) of Kuraray Co. Ltd stock $16.80, price $11.73, upside +43.3%, quality 52 out of 100. Rating: undervalued. Calculated from audited financials with 22 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 7, 2026.
How to read this chart
60‑month range $6.34 – $14.87 · fair‑value band $10.52 – $21.74 · the $11.73 price screens below the $16.80 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.
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Kuraray Co., Ltd., together with its subsidiaries, engages in the production and sale of resins, chemicals, fibers, and other-related materials in Japan, the United States, China, Europe, Asia, and internationally.
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The company operates through five segments: Vinyl Acetate, Isoprene, Functional Materials, Fibers, and Trading.
It offers PVOH, PVB, and EVOH resins and films; methacrylic resins; heat-resistant polyamide resins; isoprene chemicals, thermoplastic elastomers; medical and dental products; activated carbon; membranes and systems for water treatment; lipids; PVA and polyester fibers; artificial leather; nonwoven fabrics; hook-and-loop fasteners; CMP pads; and plastic hose.
The company is also involved in the manufacturing and sale of molded products; logistics; temporary staffing/recruitment; consulting; travel agency; insurance; and lodging and food service facilities.
Its products are used in adhesives and sealants, agriculture and fishery, air and water treatment, architecture and construction, automotive and transportation, clothing and textiles, compounding and materials, electrical and electronics, energy and resources, food and beverage, healthcare and medical, industrial and manufacturing, life and personal care, packaging, paints and inks, and sports and outdoors applications.
The company was formerly known as Kurashiki Rayon Co., Ltd. and changed its name to Kuraray Co., Ltd. in January 1970. Kuraray Co., Ltd. was incorporated in 1926 and is headquartered in Chiyoda, Japan.
Stock analysis
Kuraray Co. Ltd (KURRF) currently trades at $11.73, while our model-based Fair Value estimate is $16.80, implying the stock looks roughly 30% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of $9.74 per share, and 3 of the 22 models we run sit above the $11.73 price.
Bear case: the Earnings-Based group reads lowest at $1.87, and 19 of the 22 models stay below the price. Data coverage for this calculation is high.
Scenario range: $10.52 (bear) to $21.74 (bull), the price of $11.73 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 52/100 (solid quality), in the Basic Materials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Kuraray Co. Ltd reported revenue of ¥809B in FY2025 versus ¥629B in FY2021, a compound +6.5%/yr. Reported net income was ¥7.5B in FY2025, compounding −33.1%/yr from FY2021.
Key figures
Market cap $3.5B Mid · P/E ratio 65.1 · EPS (TTM) $0.1800 · Dividend yield 2.9% · Net margin 0.9% · Return on equity 0.8% · Return on assets (EBIT) 6.2% (5-year average) · Operating margin 6.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 28 out of 100 (medium confidence).
What moves the price
The share trades about 10% below its 52-week high and 21% 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 43%, KURRF screens cheaper than that median.
Fair Value models
Bear$10.52Fair Value $16.80Bull$21.74
Price $11.73 · Upside +43.3%
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$10.04$10.32$10.8976
EPV$5.53$6.76$7.8673
5Y EBITDA Exit$8.66$16.87$26.3972
All 22 models by family
DCF Models
5Y Revenue Exit$4.03$8.41$14.0469
5Y EBITDA Exit$8.66$16.87$26.3972
5Y P/E Exitn/a$0.8700$1.8867
10Y Revenue Exit$2.01$5.67$10.5961
10Y EBITDA Exit$5.27$11.60$20.0165
10Y P/E Exitn/a$0.3900$1.3260
Earnings-Based
Graham-Dodd$1.07$2.91$3.8165
Lynch FV$0.5700$0.8200$1.0761
PEG = 1.0$0.5700$0.8200$1.0757
EPV$5.53$6.76$7.8673
Dividend Discount
Gordon GGM$2.65$5.77$9.6965
DDM Multi-Stage$2.65$4.22$5.9666
Multiples
P/E Multiple$2.00$2.67$3.3363
P/S Multiple$2.00$2.67$3.3357
P/B Multiple$29.86$39.82$49.7755
EV/EBIT$6.94$10.21$13.4864
EV/EBITDA$14.21$19.91$25.6066
EV/Revenue$5.63$9.27$12.9252
Asset-Based
NCAV (Graham)$2.70$4.09$5.1154
Economic Profit
Residual Income$10.04$10.32$10.8976
ROIC Compounder$5.53$6.76$7.8671
Growth Earnings
Growth-Adj P/E$1.61$2.31$3.0067
The fair value above starts from this blend and is adjusted for a cyclical trough 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.51/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−2.1%
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.
+2.3%
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.
+8.4%
Start year 2020 (pandemic). Over 10 years: +7.0% a year
Revenue growth 26 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.
+3.7%
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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. Basis: EBIT basis. 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.
+6.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+3.5%
Dividend (yield on the price)2.9%
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.−16.4% vs −13.6%, steady
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.8% → 7%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
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).
more than +80 %
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.
+4.3%
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 +2.2% a year for the forecasts.
News mood ⓘNews mood, the average tone of recent news (65 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Hype
Recent news coverage is unusually upbeat, far more positive than stocks are typically covered.
AI conclusion: The purification business offers targeted growth in water treatment and industrial uses, yet the core polymers and films remain tied to volatile automotive and packaging cycles with thin margins.
Main risk: Continued exposure to automotive and packaging cycles could pressure volumes and margins across the polymer and film segments.
Kuraray’s subsidiary Calgon Carbon just expanded its Texas plant to nearly double reactivated carbon output. This move targets growing needs in industrial purification and water treatment while the rest of the business relies on polymers and films exposed to automotive and packaging cycles. Will the purification side deliver enough momentum to offset swings in the other segments?
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 · 337 stocks
Beats the industry median on 5/13 measures
Overall it trails its industry peers.
Valuation
Quality Score52 · Below median
Fair Value upside+43.3% · Top 25%
Profitability
Return on equity (12 months)0.8% · Below median
Return on assets0.6% · Below median
Net margin (12 months)0.9% · Below median
Operating margin (12 months)6.1% · Below median
Growth and dividend
Revenue growth (quarter YoY)12.2% · Below median
Dividend yield (12 months)2.9% · Above median
Balance sheet
Debt / equity0.26× · Above median
Valuation Multiplesvs Chemicals median · lower = cheaper
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Is Kuraray Co. Ltd (KURRF) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of $16.80 versus the last price from Oct 30, 2026 of $11.73, about +43% upside (undervalued).
What is the fair value of KURRF?
Our model-based fair value for Kuraray Co. Ltd is $16.80 (as of Nov 7, 2026), built from audited fundamentals. Last price (from Oct 30, 2026): $11.73.
What is the quality score of KURRF?
Kuraray Co. Ltd has a Quality Score of 52/100. 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 Kuraray Co. Ltd (KURRF)?
Our model-based price target is the fair value of $16.80 (as of Nov 7, 2026) from 22 valuation models. Cautious scenario $10.52, optimistic scenario $21.74. It is a calculation from audited fundamentals, not an analyst target.
What is the Kuraray Co. Ltd stock forecast for 2026?
Our models put fair value at $16.80, about +43% upside versus the last price from Oct 30, 2026 of $11.73 (undervalued). Cautious scenario $10.52, optimistic scenario $21.74. The calculation is refreshed regularly with new filings.
What is the revenue of Kuraray Co. Ltd (KURRF)?
Kuraray Co. Ltd reported trailing-twelve-month revenue of about ¥840B (latest available figure, as of Nov 7, 2026).
Does Kuraray Co. Ltd pay a dividend?
Kuraray Co. Ltd currently shows a dividend yield of 2.91% relative to its recent price (as of Nov 7, 2026).
How much is the dividend of Kuraray Co. Ltd (KURRF) and when is the ex-dividend date?
Kuraray Co. Ltd pays a dividend of $0.341 per share a year, a dividend yield of 2.9%. The next ex-dividend date is Dec 29, 2026. A dividend has been paid every year since at least 2003. Free cash flow covers the dividend 0.06 times. Our assessment: Pays more than it earns. The company pays out more in dividends than it earns, and free cash flow clearly does not cover the dividend either. It may need to be cut unless profits recover.
What growth is priced into Kuraray Co. Ltd (KURRF)?
For today's price to be fair in a discounted-cash-flow model, Kuraray Co. Ltd would have to grow free cash flow by more than 80 % 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 +8.4 % per year. As of Nov 7, 2026.
What discount rate (WACC) does the fair value of KURRF use?
Our models discount Kuraray Co. Ltd at 8.5 %: a base by market capitalisation (mid), damped by beta 0.07, 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 Kuraray Co. Ltd that is more than 80 % 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 Kuraray Co. Ltd (KURRF) delivered so far?
Over the past 5 years revenue at Kuraray Co. Ltd grew +8.4 % a year. The price currently implies free-cash-flow growth of more than 80 % 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 Kuraray Co. Ltd (KURRF) growing?
The median revenue growth in the sector is +9.8 % a year. That is the yardstick for the growth priced into Kuraray Co. Ltd (more than 80 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Kuraray Co. Ltd (KURRF)?
The free-cash-flow yield on the price is 0.17 %: that much free cash flow Kuraray Co. Ltd 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 Kuraray Co. Ltd (KURRF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Kuraray Co. Ltd it is $16.80 per share (as of Nov 7, 2026), against a price of $11.73. It is the blended result of 22 valuation models in 7 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is Kuraray Co. Ltd stock overvalued or undervalued in 2026?
As of Nov 7, 2026, KURRF trades below its calculated fair value: price $11.73, fair value $16.80, a gap of about +43% (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 KURRF?
No. The price is what the market pays today ($11.73); the fair value is what the company's own numbers justify ($16.80). For Kuraray Co. Ltd the two are $5.07 per share apart. That gap is exactly why we show both numbers side by side.
How much is Kuraray Co. Ltd worth?
The market values Kuraray Co. Ltd at about $3.5B (market capitalisation, as of Nov 7, 2026). Per share that is $11.73; our models calculate a fair value of $16.80 per share.
What do the bullish and bearish scenarios say about KURRF?
Our models span a range for Kuraray Co. Ltd: cautious scenario $10.52, base $16.80, optimistic $21.74 per share (as of Nov 7, 2026, price $11.73). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of KURRF?
Kuraray Co. Ltd trades at a price-to-earnings ratio of 65.1 (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 $16.80 is built from several models across several years. Other multiples: P/B 0.8, P/S 0.7, EV/EBITDA 4.2.
How solid is the balance sheet of Kuraray Co. Ltd (KURRF)?
Balance-sheet figures for Kuraray Co. Ltd (as of Nov 7, 2026): return on equity 0.8%, debt of 0.26 per unit of equity. They feed the Quality Score of 52/100, which measures business quality independently of the share price.
How far is KURRF from its 52-week high?
Kuraray Co. Ltd trades at $11.73, about 10% below its 52-week high of $13.00 and 21% above the low of $9.66 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of $16.80 is for.
Which stocks are comparable to Kuraray 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 Kuraray Co. Ltd stock attractive at the current price?
The data as of Nov 7, 2026: price $11.73, calculated fair value $16.80 (+43%), Quality Score 52/100, from 22 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 KURRF calculated?
We run Kuraray Co. Ltd through 22 models from 7 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of $16.80 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. Kuraray Co. Ltd currently trades 30% 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 Kuraray Co. Ltd (KURRF)?
The latest price we hold is from Oct 30, 2026 and stands at $11.73. Our model-based fair value is $16.80, about +43% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Kuraray Co. Ltd right now?
Solid quality (52/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range ($10.52 to $21.74) leaves room in how you read the outcome.
Where does the earnings growth of Kuraray Co. Ltd (KURRF) come from?
Earnings per share at Kuraray Co. Ltd grew −1.2 % a year from 2014 to 2025. Broken into its drivers: revenue per share +6.9 %, EBIT margin −3.2 %, tax rate −1.1 %, residual (interest, one-offs) −3.5 %. 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 Kuraray Co. Ltd
How large is the market capitalisation of Kuraray Co. Ltd (KURRF)?
The market capitalisation of Kuraray Co. Ltd is $3.5B. 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 are the earnings per share of Kuraray Co. Ltd (KURRF)?
Earnings per share at Kuraray Co. Ltd are $0.1800 (price ÷ EPS = P/E 65.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Kuraray Co. Ltd (KURRF)?
The dividend yield of Kuraray Co. Ltd is 2.9% (payout 190%). 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 Kuraray Co. Ltd (KURRF)?
The net margin of Kuraray Co. Ltd is 0.9% (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 Kuraray Co. Ltd (KURRF)?
The return on equity (ROE) of Kuraray Co. Ltd is 0.8% (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 Kuraray Co. Ltd (KURRF)?
On an EBIT basis the return on assets of Kuraray Co. Ltd is 6.2% (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 Kuraray Co. Ltd (KURRF)?
The operating margin of Kuraray Co. Ltd is 6.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Kuraray Co. Ltd (KURRF)?
Revenue at Kuraray Co. Ltd is growing +12.2% versus a year earlier (3y avg +2.3%). 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 Kuraray Co. Ltd (KURRF)?
Earnings per share at Kuraray Co. Ltd are growing +238% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Kuraray Co. Ltd (KURRF) carry?
The net debt of Kuraray Co. Ltd is ¥181B (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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Broad data
Nov 7, 2026