Nepes Corporation (033640) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of Nepes Corporation stock KRW 17,165, price KRW 17,000, upside +1.0%, quality 57 out of 100. Rating: fairly valued. Calculated from audited financials with 24 of our 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 8, 2026.
How to read this chart
60‑month range 5,960 KRW – 43,700 KRW · fair‑value band 12,016 KRW – 22,315 KRW · the 17,000 KRW price screens below the 17,165 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 2 fiscal years are left out: there the valuation rested on only a fraction of the usual models. As of Nov 8, 2026.
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Nepes Corporation engages in the semiconductor, chemical, and energy businesses in South Korea.
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It offers turnkey solutions for flip chip bumping, wafer-level packaging, fan-out wafer level packaging, panel level packaging, and fan-out wafer level system in packaging solutions, as well as semiconductor back-end processing and electric tests.
The company also develops and supplies artificial intelligence semiconductors solutions.
In addition, it provides functional photo/wet chemical products for semiconductor and display processes applied to smartphones and automobiles; and colorants and color pastes for TFT-LCD color filters and touch screen panels.
Further, the company offers lead tabs for secondary batteries; and smart films for controlling the transparency of the windows. Additionally, it provides design, construction, architecture solutions for factories, industrial architecture, and other facilities.
Nepes Corporation was founded in 1990 and is headquartered in Cheongju-si, South Korea.
Stock analysis
Nepes Corporation (033640) currently trades at 17,000 KRW, while our model-based Fair Value estimate is 17,165 KRW, so the stock looks roughly fairly valued today (gap 1.0%).
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Valuation
Bull case: the DCF Models group reads highest at a median of 21,255 KRW per share, and 11 of the 24 models we run sit above the 17,000 KRW price.
Bear case: the Asset-Based group reads lowest at 3,384 KRW, and 13 of the 24 models stay below the price. Data coverage for this calculation is medium.
Scenario range: 12,016 KRW (bear) to 22,315 KRW (bull), the price of 17,000 KRW sits inside 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 57/100 (solid quality), in the Technology sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Nepes Corporation reported revenue of 521B KRW in FY2025 versus 418B KRW in FY2021, a compound +5.7%/yr. Reported net income was 16.6B KRW in FY2025.
Key figures
Market cap 391B KRW (≈ $289M) Micro · P/E ratio 27.6 · P/S ratio 0.71 · EPS (TTM) 868.76 KRW · Net margin 2.2% · Return on equity 12.4% · Return on assets (EBIT) 0.6% (5-year average) · Operating margin 9.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 37 out of 100 (low confidence).
What moves the price
The share trades about 56% below its 52-week high and 42% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −7% fair-value upside, at 1%, 033640 screens cheaper than that median.
Fair Value models
Bear12,016 KRWFair Value 17,165 KRWBull22,315 KRW
Price 17,000 KRW · Upside +1.0%
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 (744.99 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.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+12.3%
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.
−3.9%
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.
+8.7%
Start year 2020 (pandemic). Over 10 years: +6.4% a year
Revenue growth 21 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.
+8.1%
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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.
−11.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year−11.5%
Dividend (yield on the price)0.0%
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.−11.5% vs −1.8%, slowing
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.−2% → 5%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Price in line with expectations
The price assumes about as much growth as 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).
+11.7%
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 +9.4% 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.Semiconductor Equipment & Materials · 235 stocks
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Cite: Fair Value Calculator (2026). "Nepes Corporation Fair Value". https://www.fairvalue-calculator.com/stock/033640
Frequently asked questions
Is Nepes Corporation (033640) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of 17,165 KRW versus a price of 17,000 KRW, about +1% upside (fairly valued).
What is the fair value of 033640?
Our model-based fair value for Nepes Corporation is 17,165 KRW (as of Nov 8, 2026), built from audited fundamentals. The current price: 17,000 KRW.
What is the quality score of 033640?
Nepes Corporation has a Quality Score of 57/100. 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 Nepes Corporation (033640)?
Our model-based price target is the fair value of 17,165 KRW (as of Nov 8, 2026) from 24 valuation models. Cautious scenario 12,016 KRW, optimistic scenario 22,315 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Nepes Corporation stock forecast for 2026?
Our models put fair value at 17,165 KRW, about +1% upside versus a price of 17,000 KRW (fairly valued). Cautious scenario 12,016 KRW, optimistic scenario 22,315 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Nepes Corporation (033640)?
Nepes Corporation reported trailing-twelve-month revenue of about 549B KRW (latest available figure, as of Nov 8, 2026).
What growth is priced into Nepes Corporation (033640)?
For today's price to be fair in a discounted-cash-flow model, Nepes Corporation would have to grow free cash flow by +11.7 % per year for five years (discount rate 14.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +8.7 % per year. As of Nov 8, 2026.
What discount rate (WACC) does the fair value of 033640 use?
Our models discount Nepes Corporation at 14.1 %: a base by market capitalisation (small), damped by beta 2.28, 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 Nepes Corporation that is +11.7 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (14.1 %) and the same formula as our fair value.
How much growth has Nepes Corporation (033640) delivered so far?
Over the past 5 years revenue at Nepes Corporation grew +8.7 % a year. The price currently implies free-cash-flow growth of +11.7 % 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 Nepes Corporation (033640) growing?
The median revenue growth in the sector is +11.5 % a year. That is the yardstick for the growth priced into Nepes Corporation (+11.7 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Nepes Corporation (033640)?
The free-cash-flow yield on the price is 12.48 %: that much free cash flow Nepes Corporation produces per unit of market value. When it exceeds the discount rate of our models (14.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Nepes Corporation (033640)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Nepes Corporation it is 17,165 KRW per share (as of Nov 8, 2026), against a price of 17,000 KRW. It is the blended result of 24 valuation models in 7 families (DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Nepes Corporation stock overvalued or undervalued in 2026?
As of Nov 8, 2026, 033640 trades below its calculated fair value: price 17,000 KRW, fair value 17,165 KRW, a gap of about +1% (fairly valued). 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 033640?
No. The price is what the market pays today (17,000 KRW); the fair value is what the company's own numbers justify (17,165 KRW). For Nepes Corporation the two are 165.35 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Nepes Corporation worth?
The market values Nepes Corporation at about 391B KRW (market capitalisation, as of Nov 8, 2026). Per share that is 17,000 KRW; our models calculate a fair value of 17,165 KRW per share.
What do the bullish and bearish scenarios say about 033640?
Our models span a range for Nepes Corporation: cautious scenario 12,016 KRW, base 17,165 KRW, optimistic 22,315 KRW per share (as of Nov 8, 2026, price 17,000 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 033640?
Nepes Corporation trades at a price-to-earnings ratio of 27.6 (as of Nov 8, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 17,165 KRW is built from several models across several years. Median P/E at fiscal year-end, 6 fiscal years (2016 to 2025), reported earnings: 13.8. Other multiples: P/B 3.2, P/S 0.7, EV/EBITDA 3.1.
How solid is the balance sheet of Nepes Corporation (033640)?
Balance-sheet figures for Nepes Corporation (as of Nov 8, 2026): return on equity 12.4%, debt of 1.36 per unit of equity. They feed the Quality Score of 57/100, which measures business quality independently of the share price.
How far is 033640 from its 52-week high?
Nepes Corporation trades at 17,000 KRW, about 56% below its 52-week high of 38,950 KRW and 42% above the low of 11,980 KRW (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of 17,165 KRW is for.
Which stocks are comparable to Nepes Corporation?
From the same area (Technology) we also value ASML Holding, Applied Materials, Inc, Lam Research Corporation, KLA Corporation, 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 Nepes Corporation stock attractive at the current price?
The data as of Nov 8, 2026: price 17,000 KRW, calculated fair value 17,165 KRW (+1%), Quality Score 57/100, 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 033640 calculated?
We run Nepes Corporation through 24 models from 7 families: DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 17,165 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 13.3% above its aggregate fair value. Nepes Corporation currently trades 1% 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 Nepes Corporation (033640)?
The closing price on Nov 9, 2026 was 17,000 KRW. Our model-based fair value is 17,165 KRW, about +1% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Nepes Corporation right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range (12,016 KRW to 22,315 KRW) leaves room in how you read the outcome.
Key figures of Nepes Corporation
How large is the market capitalisation of Nepes Corporation (033640)?
The market capitalisation of Nepes Corporation is 391B KRW (≈ $289M). 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 Nepes Corporation (033640)?
The price-to-sales ratio of Nepes Corporation is 0.71 (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 Nepes Corporation (033640)?
Earnings per share at Nepes Corporation are 868.76 KRW (price ÷ EPS = P/E 27.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Nepes Corporation (033640)?
The net margin of Nepes Corporation is 2.2% (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 Nepes Corporation (033640)?
The return on equity (ROE) of Nepes Corporation is 12.4% (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 Nepes Corporation (033640)?
On an EBIT basis the return on assets of Nepes Corporation is 0.6% (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 Nepes Corporation (033640)?
The operating margin of Nepes Corporation is 9.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Nepes Corporation (033640)?
Revenue at Nepes Corporation is growing +17.4% versus a year earlier (3y avg −3.9%). 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 Nepes Corporation (033640)?
Earnings per share at Nepes Corporation are growing +0.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Nepes Corporation (033640) carry?
The net debt of Nepes Corporation is 251B KRW (fiscal year 2025, ≈ 5.1 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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Some data
Nov 8, 2026