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Soulbrain Holdings (036830) Fair Value & Analysis

Basic Materials · KR · Market cap 647B KRW

SH Soulbrain Holdings 036830 · KQ
Price35,350 KRW
Fair Value40,838 KRW
Upside+15.5%
Quality51/100
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Expensive Growth
Highly profitable · 82.1% net margin
Low debt · generates free cash flow
1.66% dividend yield
Ranks above peers (6/10)
Narrow moat 43/100
Evidence: Medium Range 30,628 KRW – 54,281 KRW Share as image

Fair value as of: Jul 22, 2026

From 24 valuation models · updated 18 days ago

Fair value updated Jul 22, 2026, revised from 41,576 KRW to 40,838 KRW (−1.8%) since Jul 6, 2026. Share price +7.8% over the past month.

A solid business, screening 16% undervalued on our models.

What matters now

  • Our model range runs from 30,628 KRW (bear) to 54,281 KRW (bull), base 40,838 KRW. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 51/100 (solid quality) with medium evidence: read the verdict with care.
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Price vs Fair Value (5 years)

89,500 KRW 18,250 KRW Fair Value 40,838 KRW Mar 2021 Aug 2026

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 18,250 KRW – 89,500 KRW · fair‑value band 30,628 KRW – 54,281 KRW · the 35,350 KRW price screens below the 40,838 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.

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Analysis

Soulbrain Holdings (036830) currently trades at 35,350 KRW, while our model-based Fair Value estimate is 40,838 KRW, implying the stock looks roughly 15.5% undervalued today. The Quality Score stands at 51/100 (solid quality), in the Basic Materials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.

Over the trailing twelve months, Soulbrain Holdings generated revenue of 607B KRW at a net margin of 82.1%. Revenue grew 39.6% year over year. It earns a return on equity of 4.1%. Net debt stands at 1.7B KRW. Fundamentals as of Jul 22, 2026

Our scenario range runs from 30,628 KRW (bear case) to 54,281 KRW (bull case); at 35,350 KRW, the current price sits within 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 56% below its 52-week high and 7% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -46% fair-value upside, at 16%, 036830 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 BearBaseBull Evidence
Highest evidence
Growth DCF 17,878 KRW 23,797 KRW 34,247 KRW 80
Residual Income 171,048 KRW 234,959 KRW 1,673,138 KRW 76
Rev-Margin DCF 15,156 KRW 18,273 KRW 22,211 KRW 74
All 24 models by family
DCF Models
FCF DCF 17,863 KRW 24,058 KRW 35,007 KRW 38
Owner Earnings 339,572 KRW 600,659 KRW 1,062,102 KRW 31
5Y Revenue Exit 15,156 KRW 18,278 KRW 22,367 KRW 39
5Y EBITDA Exit 27,714 KRW 43,591 KRW 63,461 KRW 41
5Y P/E Exit 203,783 KRW 398,494 KRW 620,798 KRW 38
10Y Revenue Exit 15,850 KRW 19,112 KRW 23,814 KRW 36
10Y EBITDA Exit 24,425 KRW 37,848 KRW 58,256 KRW 37
10Y P/E Exit 142,731 KRW 300,541 KRW 525,370 KRW 35
Earnings-Based
Graham-Dodd 162,089 KRW 692,681 KRW 946,184 KRW 54
Lynch FV 177,034 KRW 252,906 KRW 328,778 KRW 50
PEG = 1.0 177,034 KRW 252,906 KRW 328,778 KRW 46
EPV 12,211 KRW 12,593 KRW 12,933 KRW 59
Multiples
P/E Multiple 303,917 KRW 405,222 KRW 506,528 KRW 63
P/S Multiple 30,628 KRW 40,838 KRW 51,047 KRW 58
P/B Multiple 190,970 KRW 254,626 KRW 318,283 KRW 55
EV/EBIT 14,595 KRW 16,112 KRW 17,629 KRW 53
EV/EBITDA 34,222 KRW 42,281 KRW 50,341 KRW 54
EV/Revenue 13,988 KRW 15,678 KRW 17,369 KRW 43
Asset-Based
NCAV (Graham) 42,438 KRW 56,867 KRW 84,875 KRW 50
Growth DCF
Growth DCF 17,878 KRW 23,797 KRW 34,247 KRW 80
Rev-Margin DCF 15,156 KRW 18,273 KRW 22,211 KRW 74
Economic Profit
Residual Income 171,048 KRW 234,959 KRW 1,673,138 KRW 76
ROIC Compounder 12,211 KRW 12,593 KRW 12,933 KRW 72
Growth Earnings
Growth-Adj P/E 265,004 KRW 378,577 KRW 492,150 KRW 68

Widest divergence: Growth Earnings (378,577 KRW) versus Economic Profit (12,593 KRW). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 607B KRW
Revenue growth (YoY) +39.6%
Net margin 82.1%
Return on equity 4.1%
Free cash flow 12.1B KRW FY2025
Operating margin 0.9%
More key figures
Dividend yield 1.1%
EPS growth (YoY) +95.9%
Net debt 1.7B KRW FY2025

Figures from reported company fundamentals · as of Jul 22, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 51/100

Of which business quality 51 · Market factors (momentum, volatility) 12

Profitability 61
Margins and returns on capital today
Quality Growth 42
Are margins and returns improving?
Cashflow 16
Earnings quality: real cash, not paper profit
Fin. Strength 58
Balance sheet, leverage, solvency risk
Investment 41
Disciplined investing over empire-building
Low Volatility 13
Calm price path (market factor)
Momentum 11
Price trend over the last 3–12 months (market factor)
52W Momentum 14
Distance to the 52-week high (market factor)
Net Issuance 94
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

Soulbrain Holdings Co., Ltd. develops, manufactures, and supplies technology industry core materials for semiconductor, display, and secondary battery cell industries in South Korea and internationally.

Full company description

Soulbrain Holdings Co., Ltd. develops, manufactures, and supplies technology industry core materials for semiconductor, display, and secondary battery cell industries in South Korea and internationally. The company offers CVD/ALD materials, etchants and cleaning agents, hydrofluoric acid/buffered oxide etchants, chemical mechanical polishing slurries, and copper metalizing products; etchants, organic materials, and thin glasses; electrolytes and lead tabs; and LED process materials, solar cells, and electric vehicle electronic materials. It also manufactures and sells AMOLED glass scribes and cells; optical films; phosphoric acid; resin black matrixes for LCD color filters and BOA/BCS negative organic insulators for LCD TFT; and cosmetics, as well as biosensors. In addition, the company engages immunodiagnostics, specialty and veterinary diagnostics business; and funding for new technologies, corporate restructuring, and M&A brokerage and consultancy businesses. Soulbrain Holdings Co., Ltd. was founded in 1986 and is headquartered in Seongnam-si, South Korea.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Soulbrain Holdings reported revenue of 557B KRW in FY2025 versus 417B KRW in FY2021, a compound +7.5%/yr. Reported net income was 487B KRW in FY2025, compounding +98.4%/yr from FY2021.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
557B KRW
Latest YoY
+8.0%
Avg. growth/yr (3Y)
−0.5%
Avg. growth/yr (5Y)
+18.7%
Avg. growth/yr (22Y)
+10.4%
Revenue +7.5%/yr
FY21 417B KRW
FY22 565B KRW
FY23 662B KRW
FY24 515B KRW
FY25 557B KRW
Net income +98.4%/yr
FY21 31.5B KRW
FY22 64.2B KRW
FY23 91.0B KRW
FY24 58.8B KRW
FY25 487B KRW

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Cite: Fair Value Calculator (2026). "Soulbrain Holdings Fair Value". https://www.fairvalue-calculator.com/stock/036830

Peer Group

Chemicals · 334 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 51 · Below median
Fair Value upside +16% · Top 25%
Return on equity (TTM) 4% · Below median
Return on assets -0% · Bottom 25%
Net margin (TTM) 82% · Top 25%
Operating margin (TTM) 1% · Bottom 25%
Revenue growth 40% · Top 25%
Dividend yield (TTM) 1.7% · Above median
Debt / equity 0.01× · Lower than 75% of peers

Valuation Multiples vs Chemicals median · lower = cheaper

P/FCF 0.0× · Cheaper than 75% of peers

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 54 · sector 0
FUTURE 100 · sector 20
PAST 17 · sector 19
HEALTH 100 · sector 94
DIVIDEND 33 · sector 27

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 Chemicals stocks, each showing price versus our Fair Value estimate (as of Jul 22, 2026).

Stock Price Fair Value vs Fair Value
BASF SE BASN 1,034 MXN 532.13 MXN -49%
Ningxia Baofeng Energy Group 600989 ¥20.32 ¥20.17 -1%
Zhejiang Juhua Co 600160 ¥42.85 ¥23.35 -46%
PT Barito Pacific Tbk, BRPT 1,690 IDR 1,628 IDR -4%
LG Chem, Ltd 051910 260,500 KRW 587,755 KRW +126%
Formosa Chemicals & Fibre Corporation 1326 66.10 TWD 6.79 TWD -90%
PTT Global Chemical Public Company PTTGC 35.50 THB 18.21 THB -49%
542812 542812 ₹4,369 ₹791.05 -82%
Indorama Ventures Public Company IVL 24.50 THB 17.95 THB -27%
Navin Fluorine International Limited NAVINFLUOR ₹8,650 ₹2,146 -75%

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Frequently asked questions

Is Soulbrain Holdings (036830) overvalued or undervalued?
As of Jul 22, 2026, our model estimates a fair value of 40,838 KRW versus a price of 35,350 KRW, about +16% (undervalued).
What is the fair value of 036830?
Our model-based fair value for Soulbrain Holdings is 40,838 KRW (as of Jul 22, 2026), built from audited fundamentals. The current price is 35,350 KRW.
What is the quality score of 036830?
Soulbrain Holdings has a Quality Score of 51/100. 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 Soulbrain Holdings (036830)?
Soulbrain Holdings reported trailing-twelve-month revenue of about 607B KRW (latest available figure, as of Jul 22, 2026).
What is the net profit margin of 036830?
The net profit margin of Soulbrain Holdings is about 82.1%, meaning it keeps roughly 82.1% of revenue as net income. Based on the latest reported figures.
Does Soulbrain Holdings pay a dividend?
Soulbrain Holdings currently shows a dividend yield of about 1.14% relative to its recent price (as of Jul 22, 2026).

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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