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Ildong Holdings Co Ltd (000230) Fair Value & Analysis

Healthcare · KR · Market cap 68.5B KRW (≈ $48.0M) · ISIN KR7000230003

What is Ildong Holdings Co Ltd really worth?

IH Ildong Holdings Co Ltd 000230 · KO
Price6,300 KRW
Fair Value16,094 KRW
Upside+155.5%
Quality43/100

Below-average quality, trading 61% below our fair value of 16,094 KRW.

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Strengths

Low debt · generates free cash flow
Ranks above peers (6/10)

Risks

!Weak Growth (revenue 5y −0.2 %/yr)
!Thin margins · 2.9% net margin
!Narrow moat 30/100
!Evidence only medium, so the estimate is less certain
!Weak on future: 28 out of 100

For context

·1.59% dividend yield
Evidence: Medium Range 12,071 KRW – 20,118 KRW

Fair value as of: Aug 23, 2026

From 26 valuation models · updated 12 days ago

Share price +2.3% over the past month.

What runs behind every stock

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

What matters now

  • The large discount to fair value meets weak quality (43/100). That raises the risk this is a value trap rather than a bargain.
  • The price is below even our cautious bear case (12,071 KRW). The market is more pessimistic than our downside scenario.

Price vs Fair Value (5 years)

50,723 KRW 5,686 KRW Fair Value 16,094 KRW Apr 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 23, 2026.

How to read this chart

60‑month range 5,686 KRW – 50,723 KRW · fair‑value band 12,071 KRW – 20,118 KRW · the 6,300 KRW price screens below the 16,094 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 23, 2026.

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Analysis

Ildong Holdings Co Ltd (000230) currently trades at 6,300 KRW, while our model-based Fair Value estimate is 16,094 KRW, implying the stock looks roughly 60.9% undervalued today. The Quality Score stands at 43/100 (below-average quality), in the Healthcare sector. Bull case: the DCF Models group reads highest at a median of 30,697 KRW per share, and 24 of the 26 models we run sit above the 6,300 KRW price. Bear case: the Asset-Based group reads lowest at 9,798 KRW, and 2 of the 26 models stay below the price. Evidence for this calculation is medium.

Over the trailing twelve months, Ildong Holdings Co Ltd generated revenue of 599B KRW at a net margin of 2.9%. Revenue grew 5.5% year over year. It earns a return on equity of 10.1%. Net debt stands at 117B KRW. Fundamentals as of Aug 23, 2026

Our scenario range runs from 12,071 KRW (bear case) to 20,118 KRW (bull case); at 6,300 KRW, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 63% below its 52-week high, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at −45% fair-value upside, at 155%, 000230 screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model 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. Evidence
Highest evidence
FCF DCF 17,177 KRW 26,899 KRW 48,188 KRW 78
Growth DCF 16,927 KRW 27,453 KRW 43,797 KRW 77
Residual Income 11,604 KRW 12,007 KRW 12,473 KRW 76
All 26 models by family
DCF Models
FCF DCF 17,177 KRW 26,899 KRW 48,188 KRW 78
Owner Earnings 33,408 KRW 60,231 KRW 110,743 KRW 73
5Y Revenue Exit 18,032 KRW 28,777 KRW 44,067 KRW 72
5Y EBITDA Exit 36,236 KRW 68,570 KRW 111,745 KRW 73
5Y P/E Exit 19,889 KRW 32,836 KRW 48,472 KRW 70
10Y Revenue Exit 17,248 KRW 27,619 KRW 45,007 KRW 65
10Y EBITDA Exit 30,058 KRW 57,787 KRW 105,029 KRW 65
10Y P/E Exit 18,950 KRW 30,697 KRW 48,914 KRW 62
Earnings-Based
Graham-Dodd 6,438 KRW 36,046 KRW 50,062 KRW 63
Lynch FV 10,086 KRW 14,409 KRW 18,732 KRW 61
PEG = 1.0 10,086 KRW 14,409 KRW 18,732 KRW 57
EPV 12,562 KRW 13,604 KRW 14,516 KRW 74
Dividend Discount
Gordon GGM 47.86 KRW 99.52 KRW 157.88 KRW 66
DDM Multi-Stage 47.86 KRW 83.92 KRW 104.45 KRW 66
Multiples
P/E Multiple 15,621 KRW 20,828 KRW 26,035 KRW 63
P/S Multiple 12,071 KRW 16,094 KRW 20,118 KRW 58
P/B Multiple 12,071 KRW 16,094 KRW 20,118 KRW 55
EV/EBIT 23,047 KRW 28,626 KRW 34,204 KRW 66
EV/EBITDA 46,789 KRW 60,282 KRW 73,774 KRW 67
EV/Revenue 18,257 KRW 23,376 KRW 28,495 KRW 54
Asset-Based
NCAV (Graham) 7,312 KRW 9,798 KRW 14,623 KRW 54
Growth DCF
Growth DCF 16,927 KRW 27,453 KRW 43,797 KRW 77
Rev-Margin DCF 18,032 KRW 28,310 KRW 42,450 KRW 72
Economic Profit
Residual Income 11,604 KRW 12,007 KRW 12,473 KRW 76
ROIC Compounder 12,562 KRW 13,604 KRW 14,516 KRW 72
Growth Earnings
Growth-Adj P/E 15,474 KRW 22,106 KRW 28,738 KRW 67

Widest divergence: DCF Models (30,697 KRW) versus Dividend Discount (83.92 KRW). Highest evidence: FCF DCF (78).

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Key figures & financial health

P/S ratio 0.11 TTM
Dividend yield 1.6%
Net margin 1.8% FY2025
Return on equity 10.1% TTM
Return on assets (EBIT) −5.6% avg 5y
Operating margin 6.1% TTM
More key figures
Growth
Revenue (TTM) 599B KRW TTM
Revenue growth (YoY) +5.5% 3y avg −4.4%
EPS growth (YoY) −62.5%
Balance sheet & cash flow
Free cash flow 9.0B KRW FY2025
Net debt 117B KRW FY2025 · ≈ 13.1 yrs of FCF

Figures from reported company fundamentals · as of Aug 23, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 43/100

Of which business quality 42 · Market factors (momentum, volatility) 20

Profitability 36
Margins and returns on capital today
Quality Growth 33
Are margins and returns improving?
Cashflow 37
Earnings quality: real cash, not paper profit
Fin. Strength 20
Balance sheet, leverage, solvency risk
Investment 65
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 9
Price trend over the last 3–12 months (market factor)
52W Momentum 5
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Ildong Holdings Co., Ltd. develops, manufactures, and supplies pharmaceutical products in South Korea and internationally.

Full company description

Ildong Holdings Co., Ltd. develops, manufactures, and supplies pharmaceutical products in South Korea and internationally. It develops new drugs against resistant bacteria, malignant tumors, Alzheimer's disease, obesity, and ageing; and raw vitamins, probiotics, and antimicrobials, as well as offers Biovita, a lactobacillus product; and Aronamin, a multivitamin product. It is also involved in the research and manufacture of health foods and ingredients; and provides hyaluronic acid for use in drugs, medical devices, and cosmetics. In addition, the company distributes medical devices, quasi drugs, health supplements, food products, beverages, cosmetics, sanitary ware, and other healthcare products through online; and manufactures original and generic prescription drugs. Further, it offers probiotics; pharmaceutical SI consulting, system development and deployment, RFID and barcode systems, and other solutions; and engages in advertising business. The company was formerly known as Ildong Pharmaceutical Co., Ltd. and changed its name to Ildong Holdings Co., Ltd. in August 2016. Ildong Holdings Co., Ltd. was founded in 1941 and is headquartered in Seoul, South Korea.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Ildong Holdings Co Ltd reported revenue of 591B KRW in FY2025 versus 592B KRW in FY2021, a compound −0.1%/yr. Reported net income was 10.9B KRW in FY2025.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
591B KRW
Latest YoY
−6.9%
Avg. revenue growth/yr (3Y) 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.
−4.4%
Avg. revenue growth/yr (5Y) 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.
−0.2%
Avg. revenue growth/yr (26Y) 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.
+6.4%
Value creation/yr We only publish this rate when it is defensible. Reason: no profitable base year
not computed
Revenue −0.1%/yr
FY21 592B KRW
FY22 676B KRW
FY23 638B KRW
FY24 635B KRW
FY25 591B KRW
Net income
FY21 −70.9B KRW
FY22 −102B KRW
FY23 −59.6B KRW
FY24 63.0B KRW
FY25 10.9B KRW

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Cite: Fair Value Calculator (2026). "Ildong Holdings Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/000230

Peer Group

Drug Manufacturers - Specialty & Generic · 608 stocks

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.

Quality Score 43 · Below median
Fair Value upside +156% · Top 25%
Return on equity (TTM) 10% · Above median
Return on assets 1% · Below median
Net margin (TTM) 3% · Below median
Operating margin (TTM) 6% · Below median
Revenue growth 6% · Above median
Dividend yield (TTM) 1.6% · Above median
Debt / equity 0.02× · Lower than median

Valuation Multiples vs Drug Manufacturers - Specialty & Generic median · lower = cheaper

P/FCF 0.0× · Cheaper than 75% of peers

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE100 · sector 2
FUTURE28 · sector 22
PAST40 · sector 26
HEALTH99 · sector 97
DIVIDEND32 · sector 29

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 Drug Manufacturers - Specialty & Generic stocks, each showing price versus our Fair Value estimate (as of Aug 23, 2026).

Stock Price Fair Value vs Fair Value
Merck KGaA MRK €140.25 €106.48 −24%
Takeda Pharmaceutical Company TAK $18.03 $11.11 −38%
Jiangsu Hengrui Pharmaceuticals Co 600276 ¥53.76 ¥25.94 −52%
Sun Pharmaceutical Industries Limited SUNPHARMA ₹1,944 ₹989.50 −49%
Galderma Group GALD CHF 178.55 CHF 55.07 −69%
Haleon plc HLN $10.11 $7.64 −24%
Teva Pharmaceutical Industries Limited TEVA $36.05 $15.33 −57%
Sandoz Group SDZ CHF 70.66 CHF 39.21 −45%
Zoetis Inc ZTS $77.10 $104.88 +36%
Hansoh Pharmaceutical Group 3692 HK$35.12 HK$16.18 −54%

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Frequently asked questions

Is Ildong Holdings Co Ltd (000230) overvalued or undervalued?
As of Aug 23, 2026, our model estimates a fair value of 16,094 KRW versus a price of 6,300 KRW, about +155% upside (undervalued).
What is the fair value of 000230?
Our model-based fair value for Ildong Holdings Co Ltd is 16,094 KRW (as of Aug 23, 2026), built from audited fundamentals. The current price: 6,300 KRW.
What is the quality score of 000230?
Ildong Holdings Co Ltd has a Quality Score of 43/100. 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 revenue of Ildong Holdings Co Ltd (000230)?
Ildong Holdings Co Ltd reported trailing-twelve-month revenue of about 599B KRW (latest available figure, as of Aug 23, 2026).
What is the net profit margin of 000230?
The net profit margin of Ildong Holdings Co Ltd is about 2.9%, meaning it keeps roughly 2.9% of revenue as net income. Based on the latest reported figures.
Does Ildong Holdings Co Ltd pay a dividend?
Ildong Holdings Co Ltd currently shows a dividend yield of about 1.59% relative to its recent price (as of Aug 23, 2026).
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