Soulbrain Holdings Co. Ltd (036830) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Soulbrain Holdings Co. Ltd KRW 40,838, price KRW 41,500, upside -1.6%, quality 51 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 23, 2026.
How to read this chart
60‑month range 18,250 KRW – 89,500 KRW · fair‑value band 30,628 KRW – 56,176 KRW · the 41,500 KRW price screens above the 40,838 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 23, 2026.
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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.
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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.
Stock analysis
Soulbrain Holdings Co. Ltd (036830) currently trades at 41,500 KRW, while our model-based Fair Value estimate is 40,838 KRW, implying the stock looks roughly 1.6% fairly valued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 378,577 KRW per share, and 14 of the 24 models we run sit above the 41,500 KRW price.
Bear case: the Economic Profit group reads lowest at 12,593 KRW, and 10 of the 24 models stay below the price. Evidence for this calculation is medium.
Scenario range: 30,628 KRW (bear) to 56,176 KRW (bull), the price of 41,500 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 51/100 (solid quality), in the Basic Materials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Soulbrain Holdings Co. Ltd 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.
Key figures
Market cap 833B KRW (≈ $583M) · P/S ratio 1.62 · Dividend yield 1.2% · Net margin 87.6% · Return on equity 4.1% · Return on assets (EBIT) 4.0% · Operating margin 0.9% · Revenue (TTM) 607B KRW.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 44 out of 100 (medium confidence).
What moves the price
The share trades about 48% below its 52-week high and 54% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at 2% fair-value upside, at −2%, 036830 screens richer than that median.
Fair Value models
Bear 30,628 KRWFair Value 40,838 KRWBull 56,176 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.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.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+8.0%
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.
−0.5%
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.
+18.7%
Start year 2020 (pandemic). Over 10 years: −1.2% a year
Revenue growth 22 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.
+10.4%
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What shareholders gained per year (last 5 years), in KRW (mathematically smoothed) ⓘ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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. 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.
+24.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year+23.7%
Dividend (yield on the price)1.2%
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.14% vs 11%, 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.8% → 2%
2025 sits 681% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Start year 2020 (pandemic)
⚠ Revenue per share shrinking 14.5%/yr over ~7Y (margins intact) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Growth Forecast
A lot of optimism in the price
The price assumes more 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).
+35.9%
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 +33.1% a year for the price.
Compare Soulbrain Holdings Co. Ltd with another stock
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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.Chemicals · 355 stocks
Beats the industry median on 5/10 measures
A mixed picture versus its industry peers.
Valuation
Quality Score51 · Below median
Fair Value upside−2% · Above median
Profitability
Return on equity (TTM)4% · Below median
Return on assets0% · Bottom 25%
Net margin (TTM)82% · Top 25%
Operating margin (TTM)1% · Bottom 25%
Growth and dividend
Revenue growth40% · Top 25%
Dividend yield (TTM)1.2% · Below median
Balance sheet
Debt / equity0.01× · Lowest 25%
Valuation Multiplesvs Chemicals median · lower = cheaper
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Is Soulbrain Holdings Co. Ltd (036830) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of 40,838 KRW versus a price of 41,500 KRW, about −2% upside (fairly valued).
What is the fair value of 036830?
Our model-based fair value for Soulbrain Holdings Co. Ltd is 40,838 KRW (as of Sep 23, 2026), built from audited fundamentals. The current price: 41,500 KRW.
What is the quality score of 036830?
Soulbrain Holdings Co. Ltd 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 price target for Soulbrain Holdings Co. Ltd (036830)?
Our model-based price target is the fair value of 40,838 KRW (as of Sep 23, 2026) from 24 valuation models. Cautious scenario 30,628 KRW, optimistic scenario 56,176 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Soulbrain Holdings Co. Ltd stock forecast for 2026?
Our models put fair value at 40,838 KRW, about −2% upside versus a price of 41,500 KRW (fairly valued). Cautious scenario 30,628 KRW, optimistic scenario 56,176 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Soulbrain Holdings Co. Ltd (036830)?
Soulbrain Holdings Co. Ltd reported trailing-twelve-month revenue of about 607B KRW (latest available figure, as of Sep 23, 2026).
Does Soulbrain Holdings Co. Ltd pay a dividend?
Soulbrain Holdings Co. Ltd currently shows a dividend yield of about 1.20% relative to its recent price (as of Sep 23, 2026).
What growth is priced into Soulbrain Holdings Co. Ltd (036830)?
For today's price to be fair in a discounted-cash-flow model, Soulbrain Holdings Co. Ltd would have to grow free cash flow by +35.9 % per year for five years (discount rate 10.2 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +18.8 % per year. As of Sep 23, 2026.
What discount rate (WACC) does the fair value of 036830 use?
Our models discount Soulbrain Holdings Co. Ltd at 10.2 %: a base by market capitalisation (mega), damped by beta 1.47, 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 Soulbrain Holdings Co. Ltd that is +35.9 % per year a year over ten years, using the same discount rate (10.2 %) and the same formula as our fair value.
How much growth has Soulbrain Holdings Co. Ltd (036830) delivered so far?
Over the past 5 years revenue at Soulbrain Holdings Co. Ltd grew +18.8 % a year. The price currently implies +35.9 % 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 Soulbrain Holdings Co. Ltd (036830) growing?
The median revenue growth in the sector is +3.3 % a year. That is the yardstick for the growth priced into Soulbrain Holdings Co. Ltd (+35.9 % 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 Soulbrain Holdings Co. Ltd (036830)?
The free-cash-flow yield on the price is 1.45 %: that much free cash flow Soulbrain Holdings Co. Ltd produces per unit of market value. When it exceeds the discount rate of our models (10.2 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Soulbrain Holdings Co. Ltd (036830)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Soulbrain Holdings Co. Ltd it is 40,838 KRW per share (as of Sep 23, 2026), against a price of 41,500 KRW. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Soulbrain Holdings Co. Ltd stock overvalued or undervalued in 2026?
As of Sep 23, 2026, 036830 trades above its calculated fair value: price 41,500 KRW, fair value 40,838 KRW, a gap of about −2% (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 036830?
No. The price is what the market pays today (41,500 KRW); the fair value is what the company's own numbers justify (40,838 KRW). For Soulbrain Holdings Co. Ltd the two are 662.14 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Soulbrain Holdings Co. Ltd worth?
The market values Soulbrain Holdings Co. Ltd at about 833B KRW (market capitalisation, as of Sep 23, 2026). Per share that is 41,500 KRW; our models calculate a fair value of 40,838 KRW per share.
What do the bullish and bearish scenarios say about 036830?
Our models span a range for Soulbrain Holdings Co. Ltd: cautious scenario 30,628 KRW, base 40,838 KRW, optimistic 56,176 KRW per share (as of Sep 23, 2026, price 41,500 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Soulbrain Holdings Co. Ltd (036830)?
Balance-sheet figures for Soulbrain Holdings Co. Ltd (as of Sep 23, 2026): return on equity 4.1%, debt of 0.01 per unit of equity. They feed the Quality Score of 51/100, which measures business quality independently of the share price.
How far is 036830 from its 52-week high?
Soulbrain Holdings Co. Ltd trades at 41,500 KRW, about 48% below its 52-week high of 79,600 KRW and 54% above the low of 27,000 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 40,838 KRW is for.
Which stocks are comparable to Soulbrain Holdings Co. Ltd?
From the same area (Basic Materials) we also value BASF SE, Ningxia Baofeng Energy Group, Dow Inc, Zhejiang Juhua Co, 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 Soulbrain Holdings Co. Ltd stock attractive at the current price?
The data as of Sep 23, 2026: price 41,500 KRW, calculated fair value 40,838 KRW (−2%), Quality Score 51/100, 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 036830 calculated?
We run Soulbrain Holdings Co. Ltd 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 40,838 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 14.1 % above its aggregate fair value. Soulbrain Holdings Co. Ltd itself currently trades above fair value. 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 Soulbrain Holdings Co. Ltd (036830)?
The closing price on Sep 23, 2026 was 41,500 KRW. Our model-based fair value is 40,838 KRW, about −2% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Soulbrain Holdings Co. Ltd right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range (30,628 KRW to 56,176 KRW) leaves room in how you read the outcome.
Key figures of Soulbrain Holdings Co. Ltd
How large is the market capitalisation of Soulbrain Holdings Co. Ltd (036830)?
The market capitalisation of Soulbrain Holdings Co. Ltd is 833B KRW (≈ $583M). 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 Soulbrain Holdings Co. Ltd (036830)?
The price-to-sales ratio of Soulbrain Holdings Co. Ltd is 1.62 (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 Soulbrain Holdings Co. Ltd (036830)?
The dividend yield of Soulbrain Holdings Co. Ltd is 1.2%. 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 Soulbrain Holdings Co. Ltd (036830)?
The net margin of Soulbrain Holdings Co. Ltd is 87.6% (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 Soulbrain Holdings Co. Ltd (036830)?
The return on equity (ROE) of Soulbrain Holdings Co. Ltd is 4.1% (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 Soulbrain Holdings Co. Ltd (036830)?
On an EBIT basis the return on assets of Soulbrain Holdings Co. Ltd is 4.0% (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 Soulbrain Holdings Co. Ltd (036830)?
The operating margin of Soulbrain Holdings Co. Ltd is 0.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Soulbrain Holdings Co. Ltd (036830)?
Revenue at Soulbrain Holdings Co. Ltd is growing +39.6% versus a year earlier (3y avg −0.5%). 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 Soulbrain Holdings Co. Ltd (036830)?
Earnings per share at Soulbrain Holdings Co. Ltd are growing +95.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Soulbrain Holdings Co. Ltd (036830) carry?
The net debt of Soulbrain Holdings Co. Ltd is 1.7B KRW (fiscal year 2025, ≈ 0.1 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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