United Pharm (033270) fair value: what the stock is really worth
As of Nov 11, 2026: fair value (intrinsic value) of United Pharm stock KRW 35,233, price KRW 15,670, upside +124.8%, quality 62 out of 100. Rating: strongly undervalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 10, 2026.
How to read this chart
60‑month range 15,620 KRW – 49,791 KRW · fair‑value band 22,844 KRW – 51,159 KRW · the 15,670 KRW price screens below the 35,233 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 10, 2026.
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Korea United Pharm Inc. engages in the manufacture and sale of pharmaceutical products in South Korea.
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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 15,670 KRW, while our model-based Fair Value estimate is 35,233 KRW, implying the stock looks roughly 56% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 46,897 KRW per share, and 23 of the 26 models we run sit above the 15,670 KRW price.
Bear case: the Dividend Discount group reads lowest at 7,899 KRW, and 3 of the 26 models stay below the price. Data coverage for this calculation is high.
Scenario range: 22,844 KRW (bear) to 51,159 KRW (bull), the price of 15,670 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 62/100 (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 247B KRW (≈ $186M) Micro · P/E ratio 12.4 · P/S ratio 1.53 · EPS (TTM) 1,262 KRW · Dividend yield 3.9% · Net margin 12.4% · Return on equity 12.2% · Return on assets (EBIT) 9.8% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 51 out of 100 (low confidence).
What moves the price
The share trades about 27% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at −28% fair-value upside, at 125%, 033270 screens cheaper than that median.
Fair Value models
Bear22,844 KRWFair Value 35,233 KRWBull51,159 KRW
Price 15,670 KRW · Upside +124.8%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (564.74 KRW per share) are deliberately not added.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.Coverage ⓘCoverage = 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.
+10.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+6.6%
Dividend (yield on the price)3.9%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.6.6% vs 8.7%, steady
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%
Pace: the 5-year rate starts in 2020 (pandemic)
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).
−4.2%
The company could shrink this much every year for the next five years and today's price would still be justified.
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 −6.1% 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 · 607 stocks
Beats the industry median on 13/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score62 · Above median
Fair Value upside+124.8% · Top 25%
Profitability
Return on equity (12 months)12.2% · Above median
Return on assets7.4% · Above median
Net margin (12 months)12.4% · Above median
Operating margin (12 months)9.9% · Below median
Growth and dividend
Revenue growth (quarter YoY)6.1% · Above median
Dividend yield (12 months)3.9% · 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 Nov 10, 2026, our model estimates a fair value of 35,233 KRW versus a price of 15,670 KRW, about +125% upside (undervalued).
What is the fair value of 033270?
Our model-based fair value for United Pharm is 35,233 KRW (as of Nov 10, 2026), built from audited fundamentals. The current price: 15,670 KRW.
What is the quality score of 033270?
United Pharm has a Quality Score of 62/100. 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 35,233 KRW (as of Nov 10, 2026) from 26 valuation models. Cautious scenario 22,844 KRW, optimistic scenario 51,159 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 35,233 KRW, about +125% upside versus a price of 15,670 KRW (undervalued). Cautious scenario 22,844 KRW, optimistic scenario 51,159 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 Nov 10, 2026).
Does United Pharm pay a dividend?
United Pharm currently shows a dividend yield of 3.89% relative to its recent price (as of Nov 10, 2026).
How much is the dividend of United Pharm (033270) and when is the ex-dividend date?
United Pharm pays a dividend of 610.00 KRW per share a year, a dividend yield of 3.9%. The last ex-dividend date was Dec 29, 2025. A dividend has been paid every year since at least 2000. The payout ratio is 48.3% of earnings. Free cash flow covers the dividend 2.69 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
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 -4.2 % 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 Nov 10, 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 -4.2 % per year for five years, then slowing evenly to 2 % by year ten, 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 free-cash-flow growth of -4.2 % per 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 +5.9 % a year. That is the yardstick for the growth priced into United Pharm (-4.2 % per 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 11.49 %: 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 35,233 KRW per share (as of Nov 10, 2026), against a price of 15,670 KRW. It is the blended result of 26 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is United Pharm stock overvalued or undervalued in 2026?
As of Nov 10, 2026, 033270 trades below its calculated fair value: price 15,670 KRW, fair value 35,233 KRW, a gap of about +125% (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 (15,670 KRW); the fair value is what the company's own numbers justify (35,233 KRW). For United Pharm the two are 19,563 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 247B KRW (market capitalisation, as of Nov 10, 2026). Per share that is 15,670 KRW; our models calculate a fair value of 35,233 KRW per share.
What do the bullish and bearish scenarios say about 033270?
Our models span a range for United Pharm: cautious scenario 22,844 KRW, base 35,233 KRW, optimistic 51,159 KRW per share (as of Nov 10, 2026, price 15,670 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 033270?
United Pharm trades at a price-to-earnings ratio of 12.4 (as of Nov 10, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 35,233 KRW is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2014 to 2025), reported earnings, FY2025 ex one-offs: 9.8. Other multiples: P/B 0.5, P/S 1.5, EV/EBITDA 7.2.
How solid is the balance sheet of United Pharm (033270)?
Balance-sheet figures for United Pharm (as of Nov 10, 2026): return on equity 12.2%, debt of 0.02 per unit of equity. They feed the Quality Score of 62/100, which measures business quality independently of the share price.
How far is 033270 from its 52-week high?
United Pharm trades at 15,670 KRW, about 27% below its 52-week high of 21,400 KRW and at the low of 15,620 KRW (as of Nov 11, 2026). Distance from the high says nothing about value: that is what the fair value of 35,233 KRW is for.
Which stocks are comparable to United Pharm?
From the same area (Healthcare) we also value Merck KGaA, Takeda Pharmaceutical Company, Galderma Group, Teva 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 Nov 10, 2026: price 15,670 KRW, calculated fair value 35,233 KRW (+125%), Quality Score 62/100, from 26 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 26 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 35,233 KRW builds on their evidence-weighted average, 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 14.0% above its aggregate fair value. United Pharm currently trades 56% 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 Nov 11, 2026 was 15,670 KRW. Our model-based fair value is 35,233 KRW, about +125% 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 (22,844 KRW). The market is more pessimistic than our downside scenario. Solid quality (62/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (22,844 KRW to 51,159 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 247B KRW (≈ $186M). 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 are the earnings per share of United Pharm (033270)?
Earnings per share at United Pharm are 1,262 KRW (price ÷ EPS = P/E 12.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of United Pharm (033270)?
The dividend yield of United Pharm is 3.9% (payout 48.3%). 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 12.4% (last twelve months). 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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Broad data
Nov 10, 2026