EstechPharma Co. Ltd (041910) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of EstechPharma Co. Ltd KRW 8,087, price KRW 5,390, upside +50.0%, quality 54 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 24, 2026.
How to read this chart
60‑month range 4,300 KRW – 12,599 KRW · fair‑value band 6,135 KRW – 9,302 KRW · the 5,390 KRW price screens below the 8,087 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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EstechPharma Co., Ltd. manufactures and sells pharmaceuticals products. It also offers raw materials, such as RBM and PLK. The company was formerly known as Estech Chemical and changed its name to EstechPharma Co., Ltd. in January 2001. EstechPharma Co., Ltd. was founded in 1996 and is headquartered in Hwaseong-si, South Korea.
Stock analysis
EstechPharma Co. Ltd (041910) currently trades at 5,390 KRW, while our model-based Fair Value estimate is 8,087 KRW, implying the stock looks roughly 33.3% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 8,765 KRW per share, and 15 of the 24 models we run sit above the 5,390 KRW price.
Bear case: the Dividend Discount group reads lowest at 848.42 KRW, and 9 of the 24 models stay below the price. Evidence for this calculation is medium.
Scenario range: 6,135 KRW (bear) to 9,302 KRW (bull), the price of 5,390 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 54/100 (solid quality), in the Healthcare sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
EstechPharma Co. Ltd reported revenue of 55.5B KRW in FY2025 versus 60.4B KRW in FY2021, a compound −2.1%/yr. Reported net income was 6.2B KRW in FY2025, compounding −2.7%/yr from FY2021.
Key figures
Market cap 71.6B KRW (≈ $52.6M) · P/S ratio 1.10 · Dividend yield 1.7% · Net margin 11.1% · Return on equity 482% · Return on assets (EBIT) 2.4% · Operating margin 4.9% · Revenue (TTM) 63.9B KRW.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).
What moves the price
The share trades about 40% below its 52-week high and 25% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at −41% fair-value upside, at 50%, 041910 screens cheaper than that median.
Fair Value models
Bear 6,135 KRWFair Value 8,087 KRWBull 9,302 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.40/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−6.8%
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.
−3.6%
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.
−2.0%
Start year 2020 (pandemic). Over 10 years: +2.1% a year
Revenue growth 12 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.
+2.3%
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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. Basis: EBIT basis. 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.
−6.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year−7.8%
Dividend (yield on the price)1.7%
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.−13% vs 2%, 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.11% → 6%
Start year 2020 (pandemic)
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).
+2.3%
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 +0.2% 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.Pharmaceuticals · 55 stocks
Beats the industry median on 6/11 measures
A mixed picture versus its industry peers.
Valuation
Quality Score54 · Above median
Fair Value upside+50% · Above median
Profitability
Return on equity (TTM)482% · Top 25%
Return on assets2% · Below median
Net margin (TTM)2% · Below median
Operating margin (TTM)5% · Below median
Growth and dividend
Revenue growth0% · Below median
Dividend yield (TTM)1.7% · Above median
Balance sheet
Debt / equity0.22× · Highest 25%
Valuation Multiplesvs Pharmaceuticals median · lower = cheaper
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Is EstechPharma Co. Ltd (041910) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 8,087 KRW versus a price of 5,390 KRW, about +50% upside (undervalued).
What is the fair value of 041910?
Our model-based fair value for EstechPharma Co. Ltd is 8,087 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 5,390 KRW.
What is the quality score of 041910?
EstechPharma Co. Ltd has a Quality Score of 54/100. 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 EstechPharma Co. Ltd (041910)?
Our model-based price target is the fair value of 8,087 KRW (as of Sep 24, 2026) from 24 valuation models. Cautious scenario 6,135 KRW, optimistic scenario 9,302 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the EstechPharma Co. Ltd stock forecast for 2026?
Our models put fair value at 8,087 KRW, about +50% upside versus a price of 5,390 KRW (undervalued). Cautious scenario 6,135 KRW, optimistic scenario 9,302 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of EstechPharma Co. Ltd (041910)?
EstechPharma Co. Ltd reported trailing-twelve-month revenue of about 63.9B KRW (latest available figure, as of Sep 24, 2026).
Does EstechPharma Co. Ltd pay a dividend?
EstechPharma Co. Ltd currently shows a dividend yield of about 1.66% relative to its recent price (as of Sep 24, 2026).
What growth is priced into EstechPharma Co. Ltd (041910)?
For today's price to be fair in a discounted-cash-flow model, EstechPharma Co. Ltd would have to grow free cash flow by +2.3 % per year for five years (discount rate 13.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -2.0 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 041910 use?
Our models discount EstechPharma Co. Ltd at 13.5 %: a base by market capitalisation (micro), damped by beta 1.10, 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 EstechPharma Co. Ltd that is +2.3 % per year a year over ten years, using the same discount rate (13.5 %) and the same formula as our fair value.
How much growth has EstechPharma Co. Ltd (041910) delivered so far?
Over the past 5 years revenue at EstechPharma Co. Ltd grew -2.0 % a year. The price currently implies +2.3 % 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 EstechPharma Co. Ltd (041910) growing?
The median revenue growth in the sector is +4.2 % a year. That is the yardstick for the growth priced into EstechPharma Co. Ltd (+2.3 % 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 EstechPharma Co. Ltd (041910)?
The free-cash-flow yield on the price is 11.56 %: that much free cash flow EstechPharma Co. Ltd produces per unit of market value. When it exceeds the discount rate of our models (13.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of EstechPharma Co. Ltd (041910)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For EstechPharma Co. Ltd it is 8,087 KRW per share (as of Sep 24, 2026), against a price of 5,390 KRW. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is EstechPharma Co. Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 041910 trades below its calculated fair value: price 5,390 KRW, fair value 8,087 KRW, a gap of about +50% (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 041910?
No. The price is what the market pays today (5,390 KRW); the fair value is what the company's own numbers justify (8,087 KRW). For EstechPharma Co. Ltd the two are 2,697 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is EstechPharma Co. Ltd worth?
The market values EstechPharma Co. Ltd at about 71.6B KRW (market capitalisation, as of Sep 24, 2026). Per share that is 5,390 KRW; our models calculate a fair value of 8,087 KRW per share.
What do the bullish and bearish scenarios say about 041910?
Our models span a range for EstechPharma Co. Ltd: cautious scenario 6,135 KRW, base 8,087 KRW, optimistic 9,302 KRW per share (as of Sep 24, 2026, price 5,390 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of EstechPharma Co. Ltd (041910)?
Balance-sheet figures for EstechPharma Co. Ltd (as of Sep 24, 2026): return on equity 482.4%, debt of 0.22 per unit of equity. They feed the Quality Score of 54/100, which measures business quality independently of the share price.
How far is 041910 from its 52-week high?
EstechPharma Co. Ltd trades at 5,390 KRW, about 40% below its 52-week high of 8,920 KRW and 25% above the low of 4,300 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 8,087 KRW is for.
Which stocks are comparable to EstechPharma Co. Ltd?
From the same area (Healthcare) we also value Caregen Co, ST Pharm Co, Oscotec Inc, DongKook Pharmaceutical 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 EstechPharma Co. Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price 5,390 KRW, calculated fair value 8,087 KRW (+50%), Quality Score 54/100, 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 041910 calculated?
We run EstechPharma 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 8,087 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 14.0 % above its aggregate fair value. EstechPharma Co. Ltd currently trades 50 % 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 EstechPharma Co. Ltd (041910)?
The closing price on Sep 23, 2026 was 5,390 KRW. Our model-based fair value is 8,087 KRW, about +50% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with EstechPharma Co. Ltd right now?
The price is below even our cautious bear case (6,135 KRW). The market is more pessimistic than our downside scenario. Solid quality (54/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of EstechPharma Co. Ltd
How large is the market capitalisation of EstechPharma Co. Ltd (041910)?
The market capitalisation of EstechPharma Co. Ltd is 71.6B KRW (≈ $52.6M). 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 EstechPharma Co. Ltd (041910)?
The price-to-sales ratio of EstechPharma Co. Ltd is 1.10 (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 EstechPharma Co. Ltd (041910)?
The dividend yield of EstechPharma Co. Ltd is 1.7%. 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 EstechPharma Co. Ltd (041910)?
The net margin of EstechPharma Co. Ltd is 11.1% (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 EstechPharma Co. Ltd (041910)?
The return on equity (ROE) of EstechPharma Co. Ltd is 482% (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 EstechPharma Co. Ltd (041910)?
On an EBIT basis the return on assets of EstechPharma Co. Ltd is 2.4% (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 EstechPharma Co. Ltd (041910)?
The operating margin of EstechPharma Co. Ltd is 4.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast are earnings growing at EstechPharma Co. Ltd (041910)?
Earnings per share at EstechPharma Co. Ltd are growing −43.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does EstechPharma Co. Ltd (041910) carry?
The net debt of EstechPharma Co. Ltd is 23.2B KRW (fiscal year 2025, ≈ 2.8 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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