United Pharm (033270) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of United Pharm KRW 38,696, price KRW 17,630, upside +119.5%, quality 63 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 27, 2026.
How to read this chart
60‑month range 16,317 KRW – 54,598 KRW · fair‑value band 25,089 KRW – 56,186 KRW · the 17,630 KRW price screens below the 38,696 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 27, 2026.
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Korea United Pharm Inc. engages in the manufacture and sale of pharmaceutical products in South Korea. It offers products in the areas of respiratory system, musculo-skeletal system, gastro-intestinal tract system, cardiovascular system, anti-cancer, anti-infectives, allergy, immune system, central nervous system, and other diseases, as well OTC drugs.
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Korea United Pharm Inc. engages in the manufacture and sale of pharmaceutical products in South Korea. It offers products in the areas of respiratory system, musculo-skeletal system, gastro-intestinal tract system, cardiovascular system, anti-cancer, anti-infectives, allergy, immune system, central nervous system, and other diseases, as well OTC drugs. The company also exports its products to approximately 40 countries. Korea United Pharm Inc. was founded in 1987 and is headquartered in Seoul, South Korea.
Stock analysis
United Pharm (033270) currently trades at 17,630 KRW, while our model-based Fair Value estimate is 38,696 KRW, implying the stock looks roughly 54.4% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 49,011 KRW per share, and 22 of the 24 models we run sit above the 17,630 KRW price.
Bear case: the Earnings-Based group reads lowest at 13,422 KRW, and 2 of the 24 models stay below the price. Evidence for this calculation is medium.
Scenario range: 25,089 KRW (bear) to 56,186 KRW (bull), the price of 17,630 KRW sits below 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 63/100 (solid quality), in the Healthcare sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
United Pharm reported revenue of 289B KRW in FY2025 versus 221B KRW in FY2021, a compound +6.9%/yr. Reported net income was 38.3B KRW in FY2025, compounding +7.5%/yr from FY2021.
Key figures
Market cap 255B KRW (≈ $187M) · P/S ratio 1.53 · Dividend yield 3.5% · Net margin 13.3% · Return on equity 12.2% · Return on assets (EBIT) 9.8% · Operating margin 9.9% · Revenue (TTM) 161B KRW.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (low confidence).
What moves the price
The share trades about 18% below its 52-week high and 6% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at −19% fair-value upside, at 119%, 033270 screens cheaper than that median.
Fair Value models
Bear 25,089 KRWFair Value 38,696 KRWBull 56,186 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.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.73/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+0.0%
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.
+3.2%
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.
+6.0%
Start year 2020 (pandemic)
Revenue growth 14 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.
+5.0%
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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.
+10.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+6.6%
Dividend (yield on the price)3.5%
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.19% → 17%
Growth Forecast
Little optimism in the price
The price assumes less 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).
−1.6%
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 −3.6% 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 · 621 stocks
Beats the industry median on 10/10 measures
Overall it ranks above its industry peers.
Valuation
Quality Score63 · Top 25%
Fair Value upside+119.5% · Top 25%
Profitability
Return on equity (TTM)12.2% · Above median
Return on assets6.8% · Top 25%
Net margin (TTM)12.4% · Above median
Operating margin (TTM)9.9% · Above median
Growth and dividend
Revenue growth6.1% · Above median
Dividend yield (TTM)3.5% · Top 25%
Balance sheet
Debt / equity0.02× · Below median
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). "United Pharm Fair Value". https://www.fairvalue-calculator.com/stock/033270
Frequently asked questions
Is United Pharm (033270) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of 38,696 KRW versus a price of 17,630 KRW, about +119% upside (undervalued).
What is the fair value of 033270?
Our model-based fair value for United Pharm is 38,696 KRW (as of Sep 27, 2026), built from audited fundamentals. The current price: 17,630 KRW.
What is the quality score of 033270?
United Pharm has a Quality Score of 63/100. 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 United Pharm (033270)?
Our model-based price target is the fair value of 38,696 KRW (as of Sep 27, 2026) from 24 valuation models. Cautious scenario 25,089 KRW, optimistic scenario 56,186 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the United Pharm stock forecast for 2026?
Our models put fair value at 38,696 KRW, about +119% upside versus a price of 17,630 KRW (undervalued). Cautious scenario 25,089 KRW, optimistic scenario 56,186 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of United Pharm (033270)?
United Pharm reported trailing-twelve-month revenue of about 161B KRW (latest available figure, as of Sep 27, 2026).
Does United Pharm pay a dividend?
United Pharm currently shows a dividend yield of about 3.46% relative to its recent price (as of Sep 27, 2026).
What growth is priced into United Pharm (033270)?
For today's price to be fair in a discounted-cash-flow model, United Pharm would have to grow free cash flow by -1.6 % per year for five years (discount rate 11.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +6.0 % per year. As of Sep 27, 2026.
What discount rate (WACC) does the fair value of 033270 use?
Our models discount United Pharm at 11.6 %: a base by market capitalisation (micro), damped by beta 0.32, 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 United Pharm that is -1.6 % per year a year over ten years, using the same discount rate (11.6 %) and the same formula as our fair value.
How much growth has United Pharm (033270) delivered so far?
Over the past 5 years revenue at United Pharm grew +6.0 % a year. The price currently implies -1.6 % 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 United Pharm (033270) growing?
The median revenue growth in the sector is +4.2 % a year. That is the yardstick for the growth priced into United Pharm (-1.6 % 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 United Pharm (033270)?
The free-cash-flow yield on the price is 10.21 %: that much free cash flow United Pharm produces per unit of market value. When it exceeds the discount rate of our models (11.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of United Pharm (033270)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For United Pharm it is 38,696 KRW per share (as of Sep 27, 2026), against a price of 17,630 KRW. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is United Pharm stock overvalued or undervalued in 2026?
As of Sep 27, 2026, 033270 trades below its calculated fair value: price 17,630 KRW, fair value 38,696 KRW, a gap of about +119% (undervalued). 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 033270?
No. The price is what the market pays today (17,630 KRW); the fair value is what the company's own numbers justify (38,696 KRW). For United Pharm the two are 21,066 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is United Pharm worth?
The market values United Pharm at about 255B KRW (market capitalisation, as of Sep 27, 2026). Per share that is 17,630 KRW; our models calculate a fair value of 38,696 KRW per share.
What do the bullish and bearish scenarios say about 033270?
Our models span a range for United Pharm: cautious scenario 25,089 KRW, base 38,696 KRW, optimistic 56,186 KRW per share (as of Sep 27, 2026, price 17,630 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of United Pharm (033270)?
Balance-sheet figures for United Pharm (as of Sep 27, 2026): return on equity 12.2%, debt of 0.02 per unit of equity. They feed the Quality Score of 63/100, which measures business quality independently of the share price.
How far is 033270 from its 52-week high?
United Pharm trades at 17,630 KRW, about 18% below its 52-week high of 21,400 KRW and 6% above the low of 16,600 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 38,696 KRW is for.
Which stocks are comparable to United Pharm?
From the same area (Healthcare) we also value Merck KGaA, Takeda Pharmaceutical Company, Teva Pharmaceutical Industries Limited, 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 United Pharm stock attractive at the current price?
The data as of Sep 27, 2026: price 17,630 KRW, calculated fair value 38,696 KRW (+119%), Quality Score 63/100, from 24 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 033270 calculated?
We run United Pharm through 24 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 38,696 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 16.1 % above its aggregate fair value. United Pharm currently trades 119 % below its own fair value, and the market average says nothing about that. 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 United Pharm (033270)?
The closing price on Sep 23, 2026 was 17,630 KRW. Our model-based fair value is 38,696 KRW, about +119% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with United Pharm right now?
The price is below even our cautious bear case (25,089 KRW). The market is more pessimistic than our downside scenario. Solid quality (63/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (25,089 KRW to 56,186 KRW) leaves room in how you read the outcome.
Key figures of United Pharm
How large is the market capitalisation of United Pharm (033270)?
The market capitalisation of United Pharm is 255B KRW (≈ $187M). 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 United Pharm (033270)?
The price-to-sales ratio of United Pharm is 1.53 (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 United Pharm (033270)?
The dividend yield of United Pharm is 3.5%. 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 United Pharm (033270)?
The net margin of United Pharm is 13.3% (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 United Pharm (033270)?
The return on equity (ROE) of United Pharm is 12.2% (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 United Pharm (033270)?
On an EBIT basis the return on assets of United Pharm is 9.8% (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 United Pharm (033270)?
The operating margin of United Pharm is 9.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at United Pharm (033270)?
Revenue at United Pharm is growing +6.1% versus a year earlier (3y avg +3.2%). 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 United Pharm (033270)?
Earnings per share at United Pharm are growing −5.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does United Pharm (033270) carry?
The net debt of United Pharm is 15.5B KRW (fiscal year 2023, ≈ 0.6 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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