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Boryung Corporation (003850) Fair Value & Analysis

Healthcare · KR · Market cap 688B KRW

BC Boryung Corporation 003850 · KO
Price9,140 KRW
Fair Value12,940 KRW
Upside+41.6%
Quality48/100
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Mixed Growth
Solidly profitable · 10.2% net margin
Low debt · generates free cash flow
1.97% dividend yield
Ranks above peers (7/10)
Narrow moat 41/100
Evidence: High Range 9,705 KRW – 16,175 KRW Share as image

Fair value as of: Jul 22, 2026

From 24 valuation models · updated 19 days ago

Share price +7.9% over the past month.

Below-average quality, screening 42% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (9,705 KRW). The market is more pessimistic than our downside scenario.
  • Solid quality (48/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

20,677 KRW 7,300 KRW Fair Value 12,940 KRW Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 22, 2026.

How to read this chart

60‑month range 7,300 KRW – 20,677 KRW · fair‑value band 9,705 KRW – 16,175 KRW · the 9,140 KRW price screens below the 12,940 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 22, 2026.

Full chart & analysis →

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Analysis

Boryung Corporation (003850) currently trades at 9,140 KRW, while our model-based Fair Value estimate is 12,940 KRW, implying the stock looks roughly 41.6% undervalued today. The Quality Score stands at 48/100 (below-average quality), in the Healthcare sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Boryung Corporation generated revenue of 1.0T KRW at a net margin of 10.2%. Revenue grew 6.2% year over year. It earns a return on equity of 12.8%. Net debt stands at 83.5B KRW. Fundamentals as of Jul 22, 2026

Our scenario range runs from 9,705 KRW (bear case) to 16,175 KRW (bull case); at 9,140 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 15% below its 52-week high and 16% above its 52-week low, currently above its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -49% fair-value upside, at 42%, 003850 screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted 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.

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
Growth DCF 16,253 KRW 29,249 KRW 52,545 KRW 80
Residual Income 8,379 KRW 8,975 KRW 10,278 KRW 76
Rev-Margin DCF 9,685 KRW 15,632 KRW 23,280 KRW 74
All 24 models by family
DCF Models
FCF DCF 16,290 KRW 30,106 KRW 55,037 KRW 38
Owner Earnings 12,240 KRW 22,663 KRW 41,472 KRW 31
5Y Revenue Exit 9,685 KRW 15,630 KRW 23,433 KRW 39
5Y EBITDA Exit 13,501 KRW 23,444 KRW 35,757 KRW 41
5Y P/E Exit 12,904 KRW 22,221 KRW 32,730 KRW 38
10Y Revenue Exit 11,462 KRW 17,884 KRW 27,231 KRW 36
10Y EBITDA Exit 14,292 KRW 23,719 KRW 37,717 KRW 37
10Y P/E Exit 13,888 KRW 22,805 KRW 35,141 KRW 35
Earnings-Based
Graham-Dodd 5,176 KRW 23,414 KRW 32,108 KRW 54
Lynch FV 6,117 KRW 8,738 KRW 11,360 KRW 50
PEG = 1.0 6,117 KRW 8,738 KRW 11,360 KRW 46
EPV 5,496 KRW 6,501 KRW 7,395 KRW 59
Multiples
P/E Multiple 12,559 KRW 16,745 KRW 20,932 KRW 63
P/S Multiple 9,705 KRW 12,940 KRW 16,175 KRW 58
P/B Multiple 9,705 KRW 12,940 KRW 16,175 KRW 55
EV/EBIT 9,618 KRW 12,891 KRW 16,165 KRW 53
EV/EBITDA 13,294 KRW 17,793 KRW 22,292 KRW 54
EV/Revenue 6,807 KRW 9,811 KRW 12,814 KRW 43
Asset-Based
NCAV (Graham) 5,004 KRW 6,706 KRW 10,008 KRW 50
Growth DCF
Growth DCF 16,253 KRW 29,249 KRW 52,545 KRW 80
Rev-Margin DCF 9,685 KRW 15,632 KRW 23,280 KRW 74
Economic Profit
Residual Income 8,379 KRW 8,975 KRW 10,278 KRW 76
ROIC Compounder 5,496 KRW 6,501 KRW 7,395 KRW 72
Growth Earnings
Growth-Adj P/E 10,169 KRW 14,528 KRW 18,886 KRW 68

Widest divergence: DCF Models (22,663 KRW) versus Economic Profit (6,501 KRW). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 1.0T KRW
Revenue growth (YoY) +6.2%
Net margin 10.2%
Return on equity 12.8%
Free cash flow 103B KRW FY2025
Operating margin 7.9%
More key figures
Dividend yield 2.0%
EPS growth (YoY) +12,225%
Net debt 83.5B KRW FY2025

Figures from reported company fundamentals · as of Jul 22, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 48/100

Of which business quality 51 · Market factors (momentum, volatility) 49

Profitability 42
Margins and returns on capital today
Quality Growth 32
Are margins and returns improving?
Cashflow 68
Earnings quality: real cash, not paper profit
Fin. Strength 70
Balance sheet, leverage, solvency risk
Investment 42
Disciplined investing over empire-building
Low Volatility 73
Calm price path (market factor)
Momentum 37
Price trend over the last 3–12 months (market factor)
52W Momentum 42
Distance to the 52-week high (market factor)
Net Issuance 37
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.

About the company

Boryung Corporation engages in the manufacture and sale of pharmaceutical products in South Korea and internationally. It offers prescription drugs for hypertension, dyslipidemia, and diabetes drugs. The company was formerly known as Boryung Pharmaceutical Co., Ltd. and changed its name to Boryung Corporation in March 2022.

Full company description

Boryung Corporation engages in the manufacture and sale of pharmaceutical products in South Korea and internationally. It offers prescription drugs for hypertension, dyslipidemia, and diabetes drugs. The company was formerly known as Boryung Pharmaceutical Co., Ltd. and changed its name to Boryung Corporation in March 2022. Boryung Corporation was founded in 1957 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

Boryung Corporation reported revenue of 1.0T KRW in FY2025 versus 627B KRW in FY2021, a compound +12.9%/yr. Reported net income was 64.3B KRW in FY2025, compounding +10.6%/yr from FY2021.

Growth Quality 89/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
1.0T KRW
Latest YoY
+0.0%
Avg. 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.
+10.2%
Avg. 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.
+12.6%
Avg. growth/yr (16Y) 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.
+8.7%
Revenue +12.9%/yr
FY21 627B KRW
FY22 760B KRW
FY23 860B KRW
FY24 1.0T KRW
FY25 1.0T KRW
Net income +10.6%/yr
FY21 43.0B KRW
FY22 41.9B KRW
FY23 40.2B KRW
FY24 69.6B KRW
FY25 64.3B KRW

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Cite: Fair Value Calculator (2026). "Boryung Corporation Fair Value". https://www.fairvalue-calculator.com/stock/003850

Peer Group

Drug Manufacturers - Specialty & Generic · 623 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 48 · Below median
Fair Value upside +42% · Top 25%
Return on equity (TTM) 13% · Above median
Return on assets 4% · Above median
Net margin (TTM) 10% · Above median
Operating margin (TTM) 8% · Below median
Revenue growth 6% · Above median
Dividend yield (TTM) 2.0% · Above median
Debt / equity 0.29× · Higher than 75% of peers

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

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

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.

VALUE 89 · sector 6
FUTURE 31 · sector 20
PAST 51 · sector 24
HEALTH 86 · sector 97
DIVIDEND 39 · sector 34

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Drug Manufacturers - Specialty & Generic stocks, each showing price versus our Fair Value estimate (as of Jul 22, 2026).

Stock Price Fair Value vs Fair Value
Jiangsu Hengrui Pharmaceuticals Co 600276 ¥53.19 ¥25.94 -51%
Sun Pharmaceutical Industries Limited SUNPHARMA ₹1,933 ₹989.50 -49%
Divi's Laboratories Limited DIVISLAB ₹7,316 ₹1,943 -73%
Torrent Pharmaceuticals Limited TORNTPHARM ₹4,763 ₹1,329 -72%
PharmaEssentia Corporation 6446 1,285 TWD 221.01 TWD -83%
Cipla Limited CIPLA ₹1,439 ₹1,001 -30%
Zydus Lifesciences Limited ZYDUSLIFE ₹1,151 ₹703.32 -39%
Lupin Limited LUPIN ₹2,443 ₹2,477 +1%
Mankind Pharma Limited MANKIND ₹2,484 ₹983.11 -60%
Dr. Reddy's Laboratories Limited DRREDDY ₹1,211 ₹874.79 -28%

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Frequently asked questions

Is Boryung Corporation (003850) overvalued or undervalued?
As of Jul 22, 2026, our model estimates a fair value of 12,940 KRW versus a price of 9,140 KRW, about +42% (undervalued).
What is the fair value of 003850?
Our model-based fair value for Boryung Corporation is 12,940 KRW (as of Jul 22, 2026), built from audited fundamentals. The current price is 9,140 KRW.
What is the quality score of 003850?
Boryung Corporation has a Quality Score of 48/100. 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 Boryung Corporation (003850)?
Boryung Corporation reported trailing-twelve-month revenue of about 1.0T KRW (latest available figure, as of Jul 22, 2026).
What is the net profit margin of 003850?
The net profit margin of Boryung Corporation is about 10.2%, meaning it keeps roughly 10.2% of revenue as net income. Based on the latest reported figures.
Does Boryung Corporation pay a dividend?
Boryung Corporation currently shows a dividend yield of about 1.90% relative to its recent price (as of Jul 22, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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