Ilsung Pharm (003120) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Ilsung Pharm KRW 18,885, price KRW 21,950, upside -14.0%, quality 54 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range 8,858 KRW – 28,300 KRW · fair‑value band 18,503 KRW – 18,885 KRW · the 21,950 KRW price screens above the 18,885 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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Ilsung Is Co., Ltd. operates as a pharmaceutical company in South Korea.
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Ilsung Is Co., Ltd. operates as a pharmaceutical company in South Korea. Its products include antibiotics, analgesics, muscle relaxants, antipyretic-analgesics, antihistamine, neuropsychiatric, neuromuscular blocker/ central muscle relaxants, anti-coagulants, probiotics, vaccine, medical equipment, circulatory system drugs, contrast agents, muscle relaxants, diabetes treatments, osteopathic, digestive system medicines, anti-virals, anti-emetics, respiratory treatments, adrenal cortical steroids, anesthetics, antipyretics, and cardiovascular system products. The company was formerly known as Ilsung Pharmaceuticals Co., Ltd. and changed its name to Ilsung Is Co., Ltd. in April 2024. Ilsung Is Co., Ltd. was founded in 1954 and is headquartered in Seoul, South Korea.
Stock analysis
Ilsung Pharm (003120) currently trades at 21,950 KRW, while our model-based Fair Value estimate is 18,885 KRW, implying the stock looks roughly 16.2% overvalued today.
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Valuation
Bull case: the Asset-Based group reads highest at a median of 36,142 KRW per share, and 2 of the 18 models we run sit above the 21,950 KRW price.
Bear case: the Growth Earnings group reads lowest at 2,705 KRW, and 16 of the 18 models stay below the price. Evidence for this calculation is medium.
Scenario range: 18,503 KRW (bear) to 18,885 KRW (bull), the price of 21,950 KRW sits above 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 54/100 (solid quality), in the Healthcare sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Ilsung Pharm reported revenue of 64.3B KRW in FY2025 versus 42.1B KRW in FY2021, a compound +11.2%/yr. Reported net income was 1.2B KRW in FY2025.
Key figures
Market cap 150B KRW (≈ $110M) · P/S ratio 2.30 · Dividend yield 5.5% · Net margin 1.8% · Return on equity 0.3% · Return on assets (EBIT) −1.7% · Operating margin −3.0% · Revenue (TTM) 64.4B KRW.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (low confidence).
What moves the price
The share trades about 22% below its 52-week high and 20% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at −8% fair-value upside, at −14%, 003120 screens richer than that median.
Fair Value models
Bear 18,503 KRWFair Value 18,885 KRWBull 18,885 KRW
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single 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 ⓘEvidence = 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.69/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−6.8%
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.
+1.6%
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.
+9.6%
Start year 2020 (pandemic). Over 10 years: +0.4% 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.
+0.2%
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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.
−39.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year−44.5%
Dividend (yield on the price)5.5%
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.−5% → −10%
⚠ Revenue per share shrinking 22.3%/yr over ~6Y (margins eroding too) ⓘ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
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).
+14.5%
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 +12.1% 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.Drug Manufacturers - Specialty & Generic · 629 stocks
Beats the industry median on 4/9 measures
A mixed picture versus its industry peers.
Valuation
Quality Score54 · Above median
Fair Value upside−14% · Above median
Profitability
Return on equity (TTM)0% · Below median
Return on assets−1% · Bottom 25%
Net margin (TTM)2% · Below median
Operating margin (TTM)−3% · Bottom 25%
Growth and dividend
Revenue growth1% · Below median
Dividend yield (TTM)5.5% · Top 25%
Valuation Multiplesvs Drug Manufacturers - Specialty & Generic median · lower = cheaper
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). "Ilsung Pharm Fair Value". https://www.fairvalue-calculator.com/stock/003120
Frequently asked questions
Is Ilsung Pharm (003120) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 18,885 KRW versus a price of 21,950 KRW, about −14% upside (overvalued).
What is the fair value of 003120?
Our model-based fair value for Ilsung Pharm is 18,885 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 21,950 KRW.
What is the quality score of 003120?
Ilsung Pharm has a Quality Score of 54/100. 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 Ilsung Pharm (003120)?
Our model-based price target is the fair value of 18,885 KRW (as of Sep 24, 2026) from 18 valuation models. Cautious scenario 18,503 KRW, optimistic scenario 18,885 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Ilsung Pharm stock forecast for 2026?
Our models put fair value at 18,885 KRW, about −14% upside versus a price of 21,950 KRW (overvalued). Cautious scenario 18,503 KRW, optimistic scenario 18,885 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Ilsung Pharm (003120)?
Ilsung Pharm reported trailing-twelve-month revenue of about 64.4B KRW (latest available figure, as of Sep 24, 2026).
Does Ilsung Pharm pay a dividend?
Ilsung Pharm currently shows a dividend yield of about 5.47% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Ilsung Pharm (003120)?
For today's price to be fair in a discounted-cash-flow model, Ilsung Pharm would have to grow free cash flow by +14.5 % per year for five years (discount rate 13.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +9.6 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 003120 use?
Our models discount Ilsung Pharm at 13.1 %: a base by market capitalisation (micro), 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 Ilsung Pharm that is +14.5 % per year a year over ten years, using the same discount rate (13.1 %) and the same formula as our fair value.
How much growth has Ilsung Pharm (003120) delivered so far?
Over the past 5 years revenue at Ilsung Pharm grew +9.6 % a year. The price currently implies +14.5 % per year free-cash-flow growth a 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 Ilsung Pharm (003120) growing?
The median revenue growth in the sector is +4.2 % a year. That is the yardstick for the growth priced into Ilsung Pharm (+14.5 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Ilsung Pharm (003120)?
The free-cash-flow yield on the price is 1.14 %: that much free cash flow Ilsung Pharm produces per unit of market value. When it exceeds the discount rate of our models (13.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Ilsung Pharm (003120)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Ilsung Pharm it is 18,885 KRW per share (as of Sep 24, 2026), against a price of 21,950 KRW. It is the blended result of 18 valuation models (cash flow, earnings, asset, dividend).
Is Ilsung Pharm stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 003120 trades above its calculated fair value: price 21,950 KRW, fair value 18,885 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 003120?
No. The price is what the market pays today (21,950 KRW); the fair value is what the company's own numbers justify (18,885 KRW). For Ilsung Pharm the two are 3,065 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Ilsung Pharm worth?
The market values Ilsung Pharm at about 150B KRW (market capitalisation, as of Sep 24, 2026). Per share that is 21,950 KRW; our models calculate a fair value of 18,885 KRW per share.
What do the bullish and bearish scenarios say about 003120?
Our models span a range for Ilsung Pharm: cautious scenario 18,503 KRW, base 18,885 KRW, optimistic 18,885 KRW per share (as of Sep 24, 2026, price 21,950 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Ilsung Pharm (003120)?
Balance-sheet figures for Ilsung Pharm (as of Sep 24, 2026): return on equity 0.3%. They feed the Quality Score of 54/100, which measures business quality independently of the share price.
How far is 003120 from its 52-week high?
Ilsung Pharm trades at 21,950 KRW, about 22% below its 52-week high of 28,300 KRW and 20% above the low of 18,300 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 18,885 KRW is for.
Which stocks are comparable to Ilsung Pharm?
From the same area (Healthcare) we also value Merck KGaA, Takeda Pharmaceutical Company, Jiangsu Hengrui Pharmaceuticals Co, Sun Pharmaceutical Industries Limited, 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 Ilsung Pharm stock attractive at the current price?
The data as of Sep 24, 2026: price 21,950 KRW, calculated fair value 18,885 KRW (−14%), Quality Score 54/100, from 18 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 003120 calculated?
We run Ilsung Pharm through 18 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 18,885 KRW, 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 14.0 % above its aggregate fair value. Ilsung Pharm 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 Ilsung Pharm (003120)?
The closing price on Sep 23, 2026 was 21,950 KRW. Our model-based fair value is 18,885 KRW, about −14% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Ilsung Pharm right now?
The price sits above even our optimistic bull case (18,885 KRW). The favourable scenario is already priced in. Solid but not exceptional quality (54/100) and above fair value, neither a clear bargain nor a standout compounder. The models converge in a tight band (18,503 KRW to 18,885 KRW), unusually little disagreement for a valuation.
Key figures of Ilsung Pharm
How large is the market capitalisation of Ilsung Pharm (003120)?
The market capitalisation of Ilsung Pharm is 150B KRW (≈ $110M). 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 Ilsung Pharm (003120)?
The price-to-sales ratio of Ilsung Pharm is 2.30 (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 Ilsung Pharm (003120)?
The dividend yield of Ilsung Pharm is 5.5%. 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 Ilsung Pharm (003120)?
The net margin of Ilsung Pharm is 1.8% (fiscal year 2025). 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 Ilsung Pharm (003120)?
The return on equity (ROE) of Ilsung Pharm is 0.3% (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 Ilsung Pharm (003120)?
On an EBIT basis the return on assets of Ilsung Pharm is −1.7% (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 Ilsung Pharm (003120)?
The operating margin of Ilsung Pharm is −3.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Ilsung Pharm (003120)?
Revenue at Ilsung Pharm is growing +0.5% versus a year earlier (3y avg +1.6%). 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 Ilsung Pharm (003120)?
Earnings per share at Ilsung Pharm are growing −2.5% versus a year earlier. How much earnings per share grew versus a year earlier.
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