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HLB Pharmaceutical Co. Ltd (047920) fair value: what the stock is really worth

As of Sep 23, 2026: fair value of HLB Pharmaceutical Co. Ltd KRW 2,295, price KRW 7,400, upside -69.0%, quality 40 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
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Healthcare · KR · ISIN KR7047920004

HP Thin data Sep 24, 2026

HLB Pharmaceutical Co. Ltd

047920 · KQ

Weakest SetupStrongly overvalued and low quality.

!Fair value 2,295 KRW · Strongly overvalued (−69%)
!Quality 40/100
!Expensive Growth (revenue 5y +38.3 %/yr)
!Loss over the last twelve months · -53.4% net margin (TTM) · fiscal year 2025 2.2%
!Low debt · negative free cash flow
!Trails peers (3/9)
!Narrow moat 12/100
!Evidence only low, so the estimate is less certain

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

41,100 KRW 6,170 KRW Fair Value 2,295 KRW May 2021 Sep 2026

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 6,170 KRW – 41,100 KRW · fair‑value band 1,721 KRW – 2,868 KRW · the 7,400 KRW price screens above the 2,295 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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Company profile

HLB Pharmaceutical Co., Ltd. researches and develops peptide drugs in South Korea.

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HLB Pharmaceutical Co., Ltd. researches and develops peptide drugs in South Korea. The company offers skeletal muscle relaxant, tranquilizers, antihistamines, antihypertensive agents, pain relief, antipruritics, astringents, anti-inflammatories, alimentary system drugs, metabolic drugs, ophthalmic agents, local anesthetics, antiarteriosclerotic agents, expectorants, antipyretics, analgesics, antidiabetic drug, chemotherapeutics, peptic ulcer agents, central nervous system drug, antibiotics, digestives, antacids, dental drugs, multivitamins, parasistic skin disese drugs, dermatlogicals, agents for urogenital organ, amino acid agent, antitussive, mucolytic agents, anthelmintics, antidiarrheals, circulatory system drug, vitamins, skin softeners, anti-hemorrhoid drugs, and agents for liver disease. It is also developing CTT-004 for the treatment of ataxia induced by spinocerebellar degeneration; and offers CMO services. The company was formerly known as Mediforum Pharmaceutical Incorporation and changed its name to HLB Pharmaceutical Co., Ltd in October 2020. HLB Pharmaceutical Co., Ltd. was founded in 1998 and is headquartered in Namyangju-si, South Korea.

Stock analysis

HLB Pharmaceutical Co. Ltd (047920) currently trades at 7,400 KRW, while our model-based Fair Value estimate is 2,295 KRW, implying the stock looks roughly 222.5% overvalued today.

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Valuation

Bull case: the Growth Earnings group reads highest at a median of 6,146 KRW per share, and 0 of the 15 models we run sit above the 7,400 KRW price.

Bear case: the Economic Profit group reads lowest at 465.51 KRW, and 15 of the 15 models stay below the price. Evidence for this calculation is low.

Scenario range: 1,721 KRW (bear) to 2,868 KRW (bull), the price of 7,400 KRW sits above 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 40/100 (below-average quality), in the Healthcare sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

HLB Pharmaceutical Co. Ltd reported revenue of 206B KRW in FY2025 versus 62.9B KRW in FY2021, a compound +34.5%/yr. Reported net income was 4.6B KRW in FY2025.

Key figures

Market cap 243B KRW (≈ $178M) · P/S ratio 18.4 · Net margin 2.2% · Return on equity −39.8% · Return on assets (EBIT) −2.8% · Operating margin 1.6% · Revenue growth (YoY) +89.5% · EPS growth (YoY) −55.5%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 33 out of 100 (low confidence).

What moves the price

The share trades about 65% below its 52-week high and 20% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Healthcare peers we cover trades at −8% fair-value upside, at −69%, 047920 screens richer than that median.

Fair Value models

Bear 1,721 KRW Fair Value 2,295 KRW Bull 2,868 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.
Highest evidence
Owner Earnings 956.93 KRW 1,656 KRW 2,876 KRW 74
EPV 440.49 KRW 465.51 KRW 485.82 KRW 74
ROIC Compounder 440.49 KRW 465.51 KRW 485.82 KRW 72
All 15 models by family
DCF Models
Owner Earnings 956.93 KRW 1,656 KRW 2,876 KRW 74
Earnings-Based
Graham-Dodd 947.84 KRW 6,610 KRW 9,276 KRW 63
Lynch FV 3,200 KRW 4,572 KRW 5,943 KRW 61
PEG = 1.0 3,200 KRW 4,572 KRW 5,943 KRW 57
EPV 440.49 KRW 465.51 KRW 485.82 KRW 74
Multiples
P/E Multiple 2,300 KRW 3,067 KRW 3,833 KRW 63
P/S Multiple 1,777 KRW 2,370 KRW 2,962 KRW 58
P/B Multiple 1,777 KRW 2,370 KRW 2,962 KRW 55
EV/EBIT 645.52 KRW 783.37 KRW 921.22 KRW 66
EV/EBITDA 1,889 KRW 2,441 KRW 2,993 KRW 67
EV/Revenue 527.14 KRW 653.63 KRW 780.13 KRW 54
Asset-Based
NCAV (Graham) 1,908 KRW 2,556 KRW 3,816 KRW 54
Economic Profit
Residual Income 2,527 KRW 2,383 KRW 1,825 KRW 71
ROIC Compounder 440.49 KRW 465.51 KRW 485.82 KRW 72
Growth Earnings
Growth-Adj P/E 4,302 KRW 6,146 KRW 7,990 KRW 67

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Quality Score breakdown

Overall quality 40/100

Of which business quality 43 · Market factors (momentum, volatility) 1

Profitability 54
Margins and returns on capital today
Quality Growth 66
Are margins and returns improving?
Cashflow 5
Earnings quality: real cash, not paper profit
Fin. Strength 64
Balance sheet, leverage, solvency risk
Investment 65
Disciplined investing over empire-building
Low Volatility 0
Calm price path (market factor)
Momentum 0
Price trend over the last 3–12 months (market factor)
52W Momentum 4
Distance to the 52-week high (market factor)
Net Issuance 12
Share count: buybacks or dilution?

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Revenue & earnings trend

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. 58/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+50.0%
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.
+24.1%
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.
+38.3%
Start year 2020 (pandemic). Over 10 years: +27.8% a year
Revenue growth 11 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.
+25.3%
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.
+32.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+32.5%
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.33% vs 11%, picking up
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.−5% → 1%
Start year 2020 (pandemic)

047920 screens 222% overvalued. Compare with Merck KGaA →

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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 · 628 stocks

Beats the industry median on 2/7 measures
Overall it trails its industry peers.
Valuation
Quality Score 40 · Bottom 25%
Fair Value upside −69% · Bottom 25%
Profitability
Return on assets −12% · Bottom 25%
Net margin (TTM) −53% · Bottom 25%
Operating margin (TTM) 2% · Below median
Growth and dividend
Revenue growth 90% · Top 25%

Valuation Multiplesvs Drug Manufacturers - Specialty & Generic median · lower = cheaper

P/S (TTM) 0.01× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 14
FUTURE (revenue growth)100 · sector 20
PAST (return on equity)0 · sector 27
HEALTH (low debt)100 · sector 96
DIVIDEND (yield)0 · sector 32

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

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

Similar stocks

10 more Drug Manufacturers - Specialty & Generic stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Merck KGaA MRK €133.95 €108.70 −19%
Takeda Pharmaceutical Company TAK $18.81 $11.29 −40%
Jiangsu Hengrui Pharmaceuticals Co 600276 ¥45.58 ¥50.14 +10%
Sun Pharmaceutical Industries Limited SUNPHARMA ₹1,865 ₹1,979 +6%
Galderma Group GALD CHF 163.80 CHF 109.88 −33%
Haleon plc HLN $9.25 $8.50 −8%
Teva Pharmaceutical Industries Limited TEVA $39.01 $20.75 −47%
Sandoz Group SDZ CHF 70.76 CHF 40.16 −43%
Zoetis Inc ZTS $71.61 $108.48 +51%
Hansoh Pharmaceutical Group 3692 HK$35.34 HK$38.87 +10%

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Cite: Fair Value Calculator (2026). "HLB Pharmaceutical Co. Ltd Fair Value". https://www.fairvalue-calculator.com/stock/047920

Frequently asked questions

Is HLB Pharmaceutical Co. Ltd (047920) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 2,295 KRW versus a price of 7,400 KRW, about −69% upside (overvalued).
What is the fair value of 047920?
Our model-based fair value for HLB Pharmaceutical Co. Ltd is 2,295 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 7,400 KRW.
What is the quality score of 047920?
HLB Pharmaceutical Co. Ltd has a Quality Score of 40/100. 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 HLB Pharmaceutical Co. Ltd (047920)?
Our model-based price target is the fair value of 2,295 KRW (as of Sep 24, 2026) from 15 valuation models. Cautious scenario 1,721 KRW, optimistic scenario 2,868 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the HLB Pharmaceutical Co. Ltd stock forecast for 2026?
Our models put fair value at 2,295 KRW, about −69% upside versus a price of 7,400 KRW (overvalued). Cautious scenario 1,721 KRW, optimistic scenario 2,868 KRW. The calculation is refreshed regularly with new filings.
What is the intrinsic value of HLB Pharmaceutical Co. Ltd (047920)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For HLB Pharmaceutical Co. Ltd it is 2,295 KRW per share (as of Sep 24, 2026), against a price of 7,400 KRW. It is the blended result of 15 valuation models (cash flow, earnings, asset, dividend).
Is HLB Pharmaceutical Co. Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 047920 trades above its calculated fair value: price 7,400 KRW, fair value 2,295 KRW, a gap of about −69% (overvalued). 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 047920?
No. The price is what the market pays today (7,400 KRW); the fair value is what the company's own numbers justify (2,295 KRW). For HLB Pharmaceutical Co. Ltd the two are 5,105 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is HLB Pharmaceutical Co. Ltd worth?
The market values HLB Pharmaceutical Co. Ltd at about 243B KRW (market capitalisation, as of Sep 24, 2026). Per share that is 7,400 KRW; our models calculate a fair value of 2,295 KRW per share.
What do the bullish and bearish scenarios say about 047920?
Our models span a range for HLB Pharmaceutical Co. Ltd: cautious scenario 1,721 KRW, base 2,295 KRW, optimistic 2,868 KRW per share (as of Sep 24, 2026, price 7,400 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of HLB Pharmaceutical Co. Ltd (047920)?
Balance-sheet figures for HLB Pharmaceutical Co. Ltd (as of Sep 24, 2026): return on equity −39.8%. They feed the Quality Score of 40/100, which measures business quality independently of the share price.
How far is 047920 from its 52-week high?
HLB Pharmaceutical Co. Ltd trades at 7,400 KRW, about 65% below its 52-week high of 20,900 KRW and 20% above the low of 6,170 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 2,295 KRW is for.
Which stocks are comparable to HLB Pharmaceutical Co. Ltd?
From the same area (Healthcare) we also value Merck KGaA, Takeda Pharmaceutical Company, Jiangsu Hengrui Pharmaceuticals Co, Sun 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 HLB Pharmaceutical Co. Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price 7,400 KRW, calculated fair value 2,295 KRW (−69%), Quality Score 40/100, from 15 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 047920 calculated?
We run HLB Pharmaceutical Co. Ltd through 15 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 2,295 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 13.0 % above its aggregate fair value. HLB Pharmaceutical 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 HLB Pharmaceutical Co. Ltd (047920)?
The closing price on Sep 23, 2026 was 7,400 KRW. Our model-based fair value is 2,295 KRW, about −69% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with HLB Pharmaceutical Co. Ltd right now?
The price sits above even our optimistic bull case (2,868 KRW). The favourable scenario is already priced in. Weak quality (40/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.

Key figures of HLB Pharmaceutical Co. Ltd

How large is the market capitalisation of HLB Pharmaceutical Co. Ltd (047920)?
The market capitalisation of HLB Pharmaceutical Co. Ltd is 243B KRW (≈ $178M). 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 HLB Pharmaceutical Co. Ltd (047920)?
The price-to-sales ratio of HLB Pharmaceutical Co. Ltd is 18.4 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the net margin of HLB Pharmaceutical Co. Ltd (047920)?
The net margin of HLB Pharmaceutical Co. Ltd is 2.2% (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 HLB Pharmaceutical Co. Ltd (047920)?
The return on equity (ROE) of HLB Pharmaceutical Co. Ltd is −39.8% (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 HLB Pharmaceutical Co. Ltd (047920)?
On an EBIT basis the return on assets of HLB Pharmaceutical Co. Ltd is −2.8% (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 HLB Pharmaceutical Co. Ltd (047920)?
The operating margin of HLB Pharmaceutical Co. Ltd is 1.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at HLB Pharmaceutical Co. Ltd (047920)?
Revenue at HLB Pharmaceutical Co. Ltd is growing +89.5% versus a year earlier (3y avg +24.1%). 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 HLB Pharmaceutical Co. Ltd (047920)?
Earnings per share at HLB Pharmaceutical Co. Ltd are growing −55.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does HLB Pharmaceutical Co. Ltd (047920) generate?
The free cash flow of HLB Pharmaceutical Co. Ltd is −6.6B KRW (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does HLB Pharmaceutical Co. Ltd (047920) carry?
The net debt of HLB Pharmaceutical Co. Ltd is 7.4B KRW (fiscal year 2025). 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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