Seoul Pharma Co (018680) Fair Value & Analysis
Healthcare · KR · Market cap 23.8B KRW
Fair value as of: Jul 22, 2026
From 19 valuation models · updated 19 days ago
Share price −11.3% over the past month.
A solid business, but screening 54% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (1,131 KRW). The favourable scenario is already priced in.
- Solid but not exceptional quality (53/100) and above fair value, neither a clear bargain nor a standout compounder.
Price vs Fair Value (5 years)
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 1,978 KRW – 11,650 KRW · fair‑value band 678.71 KRW – 1,131 KRW · the 1,987 KRW price screens above the 904.94 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.
Analysis
Seoul Pharma Co (018680) currently trades at 1,987 KRW, while our model-based Fair Value estimate is 904.94 KRW, implying the stock looks roughly 54.5% overvalued today. The Quality Score stands at 53/100 (solid quality), in the Healthcare 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: high).
Over the trailing twelve months, Seoul Pharma Co generated revenue of 51.3B KRW at a net margin of 1.4%. Revenue declined 6.4% year over year. It earns a return on equity of 1.8%. Net debt stands at 5.1B KRW. Fundamentals as of Jul 22, 2026
Our scenario range runs from 678.71 KRW (bear case) to 1,131 KRW (bull case); at 1,987 KRW, the current price sits above 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 44% below its 52-week high, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -49% fair-value upside, at -54%, 018680 screens richer 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.
All 19 models by family
Widest divergence: Asset-Based (2,359 KRW) versus Growth Earnings (697.58 KRW). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 22, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 54 · Market factors (momentum, volatility) 27
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
Seoul Pharma Co., Ltd manufactures and sells pharmaceutical products in South Korea and internationally. The company offers orally disintegrating film products for therapeutic areas, including urology, neurology, nutrition, endocrinology, and OB/GY.
Full company description
Seoul Pharma Co., Ltd manufactures and sells pharmaceutical products in South Korea and internationally. The company offers orally disintegrating film products for therapeutic areas, including urology, neurology, nutrition, endocrinology, and OB/GY. Its products include VULTEUM and VULTIS for erectile dysfunction; ARTPEZIL for Alzheimer' disease; OBCARE to treat overactive bladder with symptoms of urge urinary incontinence, urgency, and urinary frequency; and CH.V, as well as products for schizophrenia, vitamin supplement, obesity, tonic, and menopausal syndrome. The company also provides Ator for high blood pressure treatment; Flavel to treat stroke; Axated, a peptic ulcer medication; Crestin to treat hyperlipidemia; and Weltmin and Fendigene for the treatment of obesity. It also owns patents to orally dispersible films. The company was founded in 1976 and is headquartered in Cheongju-si, South Korea.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Seoul Pharma Co reported revenue of 52.1B KRW in FY2025 versus 40.5B KRW in FY2021, a compound +6.5%/yr. Reported net income was 754M KRW in FY2025.
018680 screens 54% overvalued. Compare with Jiangsu Hengrui Pharmaceuticals Co →
Peer Group
Drug Manufacturers - Specialty & Generic · 622 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.
Valuation Multiples vs Drug Manufacturers - Specialty & Generic median · lower = cheaper
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 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
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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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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