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Mirae Corporation (025560) Fair Value & Analysis

Technology · KR · Market cap 186B KRW

MC Mirae Corporation 025560 · KO
Price7,270 KRW
Fair Value4,120 KRW
Upside-43.3%
Quality37/100
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Mixed Growth
Highly profitable · 23.9% net margin
Low debt · negative free cash flow
Ranks above peers (7/8)
Moderate moat 64/100
Evidence: High Range 3,070 KRW – 5,170 KRW Share as image

Fair value as of: Jul 31, 2026

From 16 valuation models · updated 10 days ago

Share price −82.6% over the past month.

Below-average quality, and screening another 43% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (5,170 KRW). The favourable scenario is already priced in.
  • Weak quality (37/100) and above fair value at the same time, the margin of safety is missing on both counts.
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Price vs Fair Value (5 years)

122,478 KRW 5,590 KRW Fair Value 4,120 KRW Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 31, 2026.

How to read this chart

60‑month range 5,590 KRW – 122,478 KRW · fair‑value band 3,070 KRW – 5,170 KRW · the 7,270 KRW price screens above the 4,120 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 31, 2026.

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Analysis

Mirae Corporation (025560) currently trades at 7,270 KRW, while our model-based Fair Value estimate is 4,120 KRW, implying the stock looks roughly 43.3% overvalued today. The Quality Score stands at 37/100 (below-average quality), in the Technology 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, Mirae Corporation generated revenue of 66.8B KRW at a net margin of 23.9%. It earns a return on equity of 13.5%. Net debt stands at 3.1B KRW. Fundamentals as of Jul 31, 2026

Our scenario range runs from 3,070 KRW (bear case) to 5,170 KRW (bull case); at 7,270 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. For context, the median of 10 Technology peers we cover trades at -75% fair-value upside, at -43%, 025560 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
Residual Income 3,411 KRW 3,669 KRW 4,470 KRW 76
ROIC Compounder 2,763 KRW 3,199 KRW 3,581 KRW 72
Gordon GGM 129.54 KRW 269.35 KRW 427.29 KRW 70
All 16 models by family
Earnings-Based
Graham-Dodd 2,294 KRW 7,988 KRW 10,736 KRW 54
Lynch FV 1,856 KRW 2,651 KRW 3,447 KRW 50
PEG = 1.0 1,856 KRW 2,651 KRW 3,447 KRW 46
EPV 2,763 KRW 3,199 KRW 3,581 KRW 59
Dividend Discount
Gordon GGM 129.54 KRW 269.35 KRW 427.29 KRW 70
DDM Multi-Stage 129.54 KRW 225.83 KRW 282.69 KRW 61
Multiples
P/E Multiple 5,060 KRW 6,746 KRW 8,433 KRW 63
P/S Multiple 3,176 KRW 4,234 KRW 5,293 KRW 58
P/B Multiple 4,301 KRW 5,734 KRW 7,168 KRW 55
EV/EBIT 4,268 KRW 5,642 KRW 7,016 KRW 53
EV/EBITDA 3,464 KRW 4,570 KRW 5,676 KRW 54
EV/Revenue 2,924 KRW 4,115 KRW 5,306 KRW 43
Asset-Based
NCAV (Graham) 2,045 KRW 2,740 KRW 4,090 KRW 50
Economic Profit
Residual Income 3,411 KRW 3,669 KRW 4,470 KRW 76
ROIC Compounder 2,763 KRW 3,199 KRW 3,581 KRW 72
Growth Earnings
Growth-Adj P/E 4,382 KRW 6,260 KRW 8,138 KRW 68

Widest divergence: Growth Earnings (6,260 KRW) versus Dividend Discount (225.83 KRW). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 66.8B KRW
Revenue growth (YoY) +337%
Net margin 23.9%
Return on equity 13.5%
Free cash flow −22.2B KRW FY2025
Operating margin 23.6%
More key figures
EPS growth (YoY) +4,992%
Net debt 3.1B KRW FY2025

Figures from reported company fundamentals · as of Jul 31, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 37/100

Of which business quality 35 · Market factors (momentum, volatility) 14

Profitability 42
Margins and returns on capital today
Quality Growth 53
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 71
Balance sheet, leverage, solvency risk
Investment 44
Disciplined investing over empire-building
Low Volatility 0
Calm price path (market factor)
Momentum 32
Price trend over the last 3–12 months (market factor)
52W Momentum 0
Distance to the 52-week high (market factor)
Net Issuance 0
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

Mirae Corporation manufactures and sells semiconductor equipment in South Korea, Asia, and Europe. It offers ATE Test Handlers, such as memory, application, logic, and module test handlers, as well as burn-in sorters, auto scrap, and chillers.

Full company description

Mirae Corporation manufactures and sells semiconductor equipment in South Korea, Asia, and Europe. It offers ATE Test Handlers, such as memory, application, logic, and module test handlers, as well as burn-in sorters, auto scrap, and chillers. The company also provides SMT Mounters, including feeders and software's; linear motors, comprising U-coreless type, T-core type, and platen-core type; and masks. Mirae Corporation was founded in 1983 and is headquartered in Cheonan-si, South Korea.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Mirae Corporation reported revenue of 50.8B KRW in FY2025 versus 48.3B KRW in FY2021, a compound +1.2%/yr. Reported net income was 10.1B KRW in FY2025, compounding +7.8%/yr from FY2021.

Growth Quality 31/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
50.8B KRW
Latest YoY
+87.8%
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.
−3.3%
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.
+4.1%
Avg. growth/yr (24Y) 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.
−1.3%
Revenue +1.2%/yr
FY21 48.3B KRW
FY22 56.2B KRW
FY23 21.7B KRW
FY24 27.0B KRW
FY25 50.8B KRW
Net income +7.8%/yr
FY21 7.5B KRW
FY22 8.0B KRW
FY23 −31.5B KRW
FY24 6.6B KRW
FY25 10.1B KRW

025560 screens 43% overvalued. Compare with ASML Holding →

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Cite: Fair Value Calculator (2026). "Mirae Corporation Fair Value". https://www.fairvalue-calculator.com/stock/025560

Peer Group

Semiconductor Equipment & Materials · 212 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 37 · Bottom 25%
Fair Value upside −43% · Above median
Return on equity (TTM) 14% · Above median
Return on assets 6% · Above median
Net margin (TTM) 24% · Top 25%
Operating margin (TTM) 24% · Top 25%
Revenue growth 337% · Top 25%
Debt / equity 0.05× · Lower than median

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 · sector 0
FUTURE 100 · sector 58
PAST 54 · sector 30
HEALTH 97 · sector 96
DIVIDEND 0 · sector 16

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.

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 Semiconductor Equipment & Materials stocks, each showing price versus our Fair Value estimate (as of Jul 31, 2026).

Stock Price Fair Value vs Fair Value
ASML Holding ASML C$50.50 C$15.57 -69%
Applied Materials, Inc AMAT $579.43 $143.08 -75%
Lam Research Corporation LRCX $346.10 $67.57 -80%
KLA Corporation KLAC $212.75 $53.01 -75%
NAURA Technology Group 002371 ¥774.20 ¥151.43 -80%
Advanced Micro-Fabrication Equipment Inc 688012 ¥350.69 ¥41.79 -88%
Piotech Inc 688072 ¥832.00 ¥431.44 -48%
Hon. Precision, Inc 7769 6,005 TWD 1,804 TWD -70%
Hangzhou Changchuan Technology Co 300604 ¥325.24 ¥33.33 -90%
MPI Corporation 6223 5,600 TWD 609.44 TWD -89%

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Frequently asked questions

Is Mirae Corporation (025560) overvalued or undervalued?
As of Jul 31, 2026, our model estimates a fair value of 4,120 KRW versus a price of 7,270 KRW, about −43% (overvalued).
What is the fair value of 025560?
Our model-based fair value for Mirae Corporation is 4,120 KRW (as of Jul 31, 2026), built from audited fundamentals. The current price is 7,270 KRW.
What is the quality score of 025560?
Mirae Corporation has a Quality Score of 37/100. 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 Mirae Corporation (025560)?
Mirae Corporation reported trailing-twelve-month revenue of about 66.8B KRW (latest available figure, as of Jul 31, 2026).
What is the net profit margin of 025560?
The net profit margin of Mirae Corporation is about 23.9%, meaning it keeps roughly 23.9% of revenue as net income. Based on the latest reported figures.

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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