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Kyungin Synthetic Co (012610) Fair Value & Analysis

Basic Materials · KR · Market cap 116B KRW

KS Kyungin Synthetic Co 012610 · KO
Price3,175 KRW
Fair Value2,771 KRW
Upside-12.7%
Quality54/100
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Healthy Growth
Thin margins · 2.1% net margin
Low debt · generates free cash flow
1.77% dividend yield
Ranks above peers (6/10)
Narrow moat 27/100
Evidence: Medium Range 2,067 KRW – 3,598 KRW Share as image

Fair value as of: Jul 22, 2026

From 23 valuation models · updated 19 days ago

Fair value updated Jul 22, 2026, revised from 2,351 KRW to 2,771 KRW (+17.9%) since Jul 6, 2026. Share price +1.8% over the past month.

A solid business, but screening 13% overvalued on our models.

What matters now

  • Solid but not exceptional quality (54/100) and above fair value, neither a clear bargain nor a standout compounder.
  • Our model range runs from 2,067 KRW (bear) to 3,598 KRW (bull), base 2,771 KRW. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 54/100 (solid quality) with medium evidence: read the verdict with care.
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Price vs Fair Value (5 years)

7,029 KRW 2,492 KRW Fair Value 2,771 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 2,492 KRW – 7,029 KRW · fair‑value band 2,067 KRW – 3,598 KRW · the 3,175 KRW price screens above the 2,771 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.

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Analysis

Kyungin Synthetic Co (012610) currently trades at 3,175 KRW, while our model-based Fair Value estimate is 2,771 KRW, implying the stock looks roughly 12.7% overvalued today. The Quality Score stands at 54/100 (solid quality), in the Basic Materials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).

Over the trailing twelve months, Kyungin Synthetic Co generated revenue of 388B KRW at a net margin of 2.1%. Revenue grew 8.5% year over year. It earns a return on equity of 3.2%. Net debt stands at 160B KRW. Fundamentals as of Jul 22, 2026

Our scenario range runs from 2,067 KRW (bear case) to 3,598 KRW (bull case); at 3,175 KRW, the current price sits within 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 51% below its 52-week high and 17% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -46% fair-value upside, at -13%, 012610 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 5,273 KRW 7,393 KRW 10,320 KRW 80
Residual Income 4,178 KRW 3,992 KRW 3,221 KRW 76
Rev-Margin DCF 4,502 KRW 6,729 KRW 9,161 KRW 74
All 23 models by family
DCF Models
FCF DCF 5,141 KRW 7,448 KRW 10,788 KRW 38
Owner Earnings 4,529 KRW 6,549 KRW 9,474 KRW 31
5Y Revenue Exit 4,502 KRW 6,679 KRW 9,364 KRW 39
5Y EBITDA Exit 6,581 KRW 10,417 KRW 14,750 KRW 41
5Y P/E Exit 2,974 KRW 3,930 KRW 4,864 KRW 38
10Y Revenue Exit 4,573 KRW 6,573 KRW 9,069 KRW 36
10Y EBITDA Exit 5,999 KRW 9,115 KRW 13,035 KRW 37
10Y P/E Exit 3,735 KRW 4,704 KRW 5,757 KRW 35
Earnings-Based
Graham-Dodd 938.43 KRW 2,359 KRW 3,063 KRW 54
PEG = 1.0 433.75 KRW 619.64 KRW 805.53 KRW 46
EPV 2,956 KRW 3,414 KRW 3,814 KRW 59
Multiples
P/E Multiple 1,760 KRW 2,346 KRW 2,933 KRW 63
P/S Multiple 1,760 KRW 2,346 KRW 2,933 KRW 58
P/B Multiple 1,760 KRW 2,346 KRW 2,933 KRW 55
EV/EBIT 5,032 KRW 6,639 KRW 8,246 KRW 53
EV/EBITDA 8,383 KRW 11,108 KRW 13,832 KRW 54
EV/Revenue 4,389 KRW 6,180 KRW 7,971 KRW 43
Asset-Based
NCAV (Graham) 2,940 KRW 3,940 KRW 5,881 KRW 50
Growth DCF
Growth DCF 5,273 KRW 7,393 KRW 10,320 KRW 80
Rev-Margin DCF 4,502 KRW 6,729 KRW 9,161 KRW 74
Economic Profit
Residual Income 4,178 KRW 3,992 KRW 3,221 KRW 76
ROIC Compounder 2,956 KRW 3,414 KRW 3,814 KRW 72
Growth Earnings
Growth-Adj P/E 1,383 KRW 1,976 KRW 2,568 KRW 68

Widest divergence: Growth DCF (6,729 KRW) versus Growth Earnings (1,976 KRW). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 388B KRW
Revenue growth (YoY) +8.5%
Net margin 2.1%
Return on equity 3.2%
Free cash flow 18.6B KRW FY2025
Operating margin 6.1%
More key figures
Dividend yield 1.2%
EPS growth (YoY) +108%
Net debt 160B KRW FY2025

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

Quality Score breakdown

Overall quality 54/100

Of which business quality 52 · Market factors (momentum, volatility) 23

Profitability 28
Margins and returns on capital today
Quality Growth 38
Are margins and returns improving?
Cashflow 52
Earnings quality: real cash, not paper profit
Fin. Strength 38
Balance sheet, leverage, solvency risk
Investment 96
Disciplined investing over empire-building
Low Volatility 37
Calm price path (market factor)
Momentum 16
Price trend over the last 3–12 months (market factor)
52W Momentum 20
Distance to the 52-week high (market factor)
Net Issuance 86
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

Kyungin Synthetic Co., Ltd. develops, manufactures, and sells dyes, inks, fine chemicals, and other materials for use in textiles, food, and electronic products in South Korea.

Full company description

Kyungin Synthetic Co., Ltd. develops, manufactures, and sells dyes, inks, fine chemicals, and other materials for use in textiles, food, and electronic products in South Korea. The company offers inks for digital textile printing and UV printing, as well as dyes for inks; reactive dyes, disperse dyes, acid dyes, CDP basic dyes, and optical brightening agents; electronic materials; and fine chemicals, such as saccharin, sulfur, and inorganic products. It also provides organic materials for displays, semiconductor, photoactive compounds, pigments, and functional materials. Kyungin Synthetic Co., Ltd. was founded in 1971 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

Kyungin Synthetic Co reported revenue of 380B KRW in FY2025 versus 403B KRW in FY2021, a compound −1.5%/yr. Reported net income was 5.6B KRW in FY2025, compounding −30.6%/yr from FY2021.

Growth Quality 62/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
380B KRW
Latest YoY
+1.5%
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.
−1.9%
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.
+2.9%
Avg. growth/yr (21Y) 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.
+6.8%
Revenue −1.5%/yr
FY21 403B KRW
FY22 403B KRW
FY23 345B KRW
FY24 374B KRW
FY25 380B KRW
Net income −30.6%/yr
FY21 24.4B KRW
FY22 14.3B KRW
FY23 −10.7B KRW
FY24 15.3B KRW
FY25 5.6B KRW

012610 screens 13% overvalued. Compare with BASF SE →

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Cite: Fair Value Calculator (2026). "Kyungin Synthetic Co Fair Value". https://www.fairvalue-calculator.com/stock/012610

Peer Group

Chemicals · 333 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 54 · Above median
Fair Value upside −13% · Above median
Return on equity (TTM) 3% · Below median
Return on assets 2% · Above median
Net margin (TTM) 2% · Below median
Operating margin (TTM) 6% · Below median
Revenue growth 9% · Above median
Dividend yield (TTM) 1.8% · Above median
Debt / equity 0.13× · Higher than median

Valuation Multiples vs Chemicals 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 16 · sector 0
FUTURE 43 · sector 20
PAST 13 · sector 19
HEALTH 93 · sector 94
DIVIDEND 35 · sector 27

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 Chemicals stocks, each showing price versus our Fair Value estimate (as of Jul 22, 2026).

Stock Price Fair Value vs Fair Value
BASF SE BASN 1,034 MXN 532.13 MXN -49%
Ningxia Baofeng Energy Group 600989 ¥20.32 ¥20.17 -1%
Zhejiang Juhua Co 600160 ¥42.85 ¥23.35 -46%
PT Barito Pacific Tbk, BRPT 1,690 IDR 1,628 IDR -4%
LG Chem, Ltd 051910 260,500 KRW 587,755 KRW +126%
Formosa Chemicals & Fibre Corporation 1326 66.10 TWD 6.79 TWD -90%
PTT Global Chemical Public Company PTTGC 35.50 THB 18.21 THB -49%
542812 542812 ₹4,369 ₹791.05 -82%
Indorama Ventures Public Company IVL 24.50 THB 17.95 THB -27%
Navin Fluorine International Limited NAVINFLUOR ₹8,650 ₹2,146 -75%

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Frequently asked questions

Is Kyungin Synthetic Co (012610) overvalued or undervalued?
As of Jul 22, 2026, our model estimates a fair value of 2,771 KRW versus a price of 3,175 KRW, about −13% (overvalued).
What is the fair value of 012610?
Our model-based fair value for Kyungin Synthetic Co is 2,771 KRW (as of Jul 22, 2026), built from audited fundamentals. The current price is 3,175 KRW.
What is the quality score of 012610?
Kyungin Synthetic Co 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 revenue of Kyungin Synthetic Co (012610)?
Kyungin Synthetic Co reported trailing-twelve-month revenue of about 388B KRW (latest available figure, as of Jul 22, 2026).
What is the net profit margin of 012610?
The net profit margin of Kyungin Synthetic Co is about 2.1%, meaning it keeps roughly 2.1% of revenue as net income. Based on the latest reported figures.
Does Kyungin Synthetic Co pay a dividend?
Kyungin Synthetic Co currently shows a dividend yield of about 1.23% 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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