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MiCo Ltd (059090) fair value: what the stock is really worth

As of Sep 23, 2026: fair value of MiCo Ltd KRW 26,224, price KRW 22,550, upside +16.3%, quality 37 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? No
  3. Add to watchlist

Technology · KR · ISIN KR7059090001

ML Some data Sep 24, 2026

MiCo Ltd

059090 · KQ

SpeculativeUpside exists, but weak quality makes the signal speculative.

✓Fair value 26,224 KRW · Undervalued (+16%)
!Quality 37/100
!Expensive Growth (revenue 5y +28.3 %/yr)
!Thin margins · 0.6% net margin (TTM)
!High debt · negative free cash flow
!Mixed vs. peers (5/10)
!Narrow moat 32/100
!Evidence only medium, so the estimate is less certain
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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

Price vs Fair Value

27,900 KRW 6,016 KRW Fair Value 26,224 KRW Apr 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 6,016 KRW – 27,900 KRW · fair‑value band 19,668 KRW – 32,780 KRW · the 22,550 KRW price screens below the 26,224 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. Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

MiCo Ltd., an engineering company, produces and sells ceramic materials and components in South Korea and internationally.

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MiCo Ltd., an engineering company, produces and sells ceramic materials and components in South Korea and internationally. The company offers heater granule powder, ESC granule powder, and parts granule powder, as well as alumina, YAG, and aluminium nitride powders, which are used in manufacturing and coating parts for semi-conductor equipment for display equipment, and cells for solid oxide fuel cell systems. It provides polyimide ESC, APS coating ESC, and ceramic ESC for display, semiconductor, and LED/LCD applications, as well as repair services; and solid oxide fuel cells. MiCo Ltd. was formerly known as KoMiCo Ltd. and changed its name to MiCo Ltd. in 2013. The company was founded in 1996 and is headquartered in Anseong-si, South Korea.

Stock analysis

MiCo Ltd (059090) currently trades at 22,550 KRW, while our model-based Fair Value estimate is 26,224 KRW, implying the stock looks roughly 14.0% undervalued today.

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Valuation

Bull case: the Growth Earnings group reads highest at a median of 28,910 KRW per share, and 7 of the 16 models we run sit above the 22,550 KRW price.

Bear case: the Dividend Discount group reads lowest at 4,353 KRW, and 9 of the 16 models stay below the price. Evidence for this calculation is medium.

Scenario range: 19,668 KRW (bear) to 32,780 KRW (bull), the price of 22,550 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 37/100 (below-average quality), in the Technology sector.

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

MiCo Ltd reported revenue of 977B KRW in FY2025 versus 365B KRW in FY2021, a compound +27.9%/yr. Reported net income was 29.5B KRW in FY2025.

Key figures

Market cap 710B KRW (≈ $522M) · P/S ratio 0.43 · Dividend yield 2.3% · Net margin 3.0% · Return on equity 7.7% · Return on assets (EBIT) 6.1% · Operating margin 5.9% · Revenue (TTM) 1.1T KRW.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 39 out of 100 (low confidence).

What moves the price

The share trades about 19% below its 52-week high and 89% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Technology peers we cover trades at −22% fair-value upside, at 16%, 059090 screens cheaper than that median.

Fair Value models

Bear 19,668 KRW Fair Value 26,224 KRW Bull 32,780 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
EPV 15,456 KRW 18,660 KRW 21,329 KRW 74
ROIC Compounder 19,930 KRW 29,816 KRW 42,537 KRW 70
Gordon GGM 2,644 KRW 4,765 KRW 6,560 KRW 68
All 16 models by family
Earnings-Based
Graham-Dodd 6,369 KRW 43,663 KRW 61,230 KRW 63
Lynch FV 12,843 KRW 18,347 KRW 23,852 KRW 61
PEG = 1.0 12,843 KRW 18,347 KRW 23,852 KRW 57
EPV 15,456 KRW 18,660 KRW 21,329 KRW 74
Dividend Discount
Gordon GGM 2,644 KRW 4,765 KRW 6,560 KRW 68
DDM Multi-Stage 2,644 KRW 4,353 KRW 5,090 KRW 67
Multiples
P/E Multiple 19,668 KRW 26,224 KRW 32,780 KRW 63
P/S Multiple 11,941 KRW 15,922 KRW 19,902 KRW 58
P/B Multiple 11,941 KRW 15,922 KRW 19,902 KRW 55
EV/EBIT 51,084 KRW 70,791 KRW 90,497 KRW 66
EV/EBITDA 69,665 KRW 95,566 KRW 121,466 KRW 67
EV/Revenue 21,853 KRW 34,662 KRW 47,472 KRW 53
Asset-Based
NCAV (Graham) 1,829 KRW 2,451 KRW 3,658 KRW 54
Economic Profit
Residual Income 5,329 KRW 7,082 KRW 30,127 KRW 64
ROIC Compounder 19,930 KRW 29,816 KRW 42,537 KRW 70
Growth Earnings
Growth-Adj P/E 20,237 KRW 28,910 KRW 37,583 KRW 67

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Quality Score breakdown

Overall quality 37/100

Of which business quality 36 · Market factors (momentum, volatility) 50

Profitability 37
Margins and returns on capital today
Quality Growth 55
Are margins and returns improving?
Cashflow 11
Earnings quality: real cash, not paper profit
Fin. Strength 16
Balance sheet, leverage, solvency risk
Investment 33
Disciplined investing over empire-building
Low Volatility 3
Calm price path (market factor)
Momentum 68
Price trend over the last 3–12 months (market factor)
52W Momentum 74
Distance to the 52-week high (market factor)
Net Issuance 82
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. 52/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+80.8%
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.
+33.0%
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.
+28.3%
Start year 2020 (pandemic). Over 10 years: +23.2% a year
Revenue growth 20 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.
+13.9%
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.
+26.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year+23.9%
Dividend (yield on the price)2.3%
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.24% vs 35%, 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.15% → 11%
Start year 2020 (pandemic)

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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 · 219 stocks

Beats the industry median on 5/10 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 37 · Bottom 25%
Fair Value upside +16% · Top 25%
Profitability
Return on equity (TTM) 8% · Above median
Return on assets 3% · Below median
Net margin (TTM) 1% · Bottom 25%
Operating margin (TTM) 6% · Below median
Growth and dividend
Revenue growth 50% · Top 25%
Dividend yield (TTM) 2.3% · Top 25%
Balance sheet
Debt / equity 4.87× · Highest 25%

Valuation Multiplesvs Semiconductor Equipment & Materials median · lower = cheaper

EV/EBITDA 1.6× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)55 · sector 0
FUTURE (revenue growth)100 · sector 69
PAST (return on equity)31 · sector 30
HEALTH (low debt)0 · sector 96
DIVIDEND (yield)46 · sector 15

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

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Advanced Micro-Fabrication Equipment Inc 688012 ¥349.35 ¥117.08 −66%
Piotech Inc 688072 ¥730.30 ¥322.24 −56%
SJ Semiconductor Corporation 688820 ¥133.57 ¥13.84 −90%
Hon. Precision, Inc 7769 5,670 TWD 4,864 TWD −14%
Qnity Electronics, Inc Q $124.86 $70.44 −44%

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MiCo Ltd · Fair Value
26,224 KRW +14%Fair Value
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Cite: Fair Value Calculator (2026). "MiCo Ltd Fair Value". https://www.fairvalue-calculator.com/stock/059090

Frequently asked questions

Is MiCo Ltd (059090) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 26,224 KRW versus a price of 22,550 KRW, about +16% upside (undervalued).
What is the fair value of 059090?
Our model-based fair value for MiCo Ltd is 26,224 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 22,550 KRW.
What is the quality score of 059090?
MiCo Ltd has a Quality Score of 37/100. 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 MiCo Ltd (059090)?
Our model-based price target is the fair value of 26,224 KRW (as of Sep 24, 2026) from 16 valuation models. Cautious scenario 19,668 KRW, optimistic scenario 32,780 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the MiCo Ltd stock forecast for 2026?
Our models put fair value at 26,224 KRW, about +16% upside versus a price of 22,550 KRW (undervalued). Cautious scenario 19,668 KRW, optimistic scenario 32,780 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of MiCo Ltd (059090)?
MiCo Ltd reported trailing-twelve-month revenue of about 1.1T KRW (latest available figure, as of Sep 24, 2026).
Does MiCo Ltd pay a dividend?
MiCo Ltd currently shows a dividend yield of about 2.28% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of MiCo Ltd (059090)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For MiCo Ltd it is 26,224 KRW per share (as of Sep 24, 2026), against a price of 22,550 KRW. It is the blended result of 16 valuation models (cash flow, earnings, asset, dividend).
Is MiCo Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 059090 trades below its calculated fair value: price 22,550 KRW, fair value 26,224 KRW, a gap of about +16% (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 059090?
No. The price is what the market pays today (22,550 KRW); the fair value is what the company's own numbers justify (26,224 KRW). For MiCo Ltd the two are 3,674 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is MiCo Ltd worth?
The market values MiCo Ltd at about 710B KRW (market capitalisation, as of Sep 24, 2026). Per share that is 22,550 KRW; our models calculate a fair value of 26,224 KRW per share.
What do the bullish and bearish scenarios say about 059090?
Our models span a range for MiCo Ltd: cautious scenario 19,668 KRW, base 26,224 KRW, optimistic 32,780 KRW per share (as of Sep 24, 2026, price 22,550 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of MiCo Ltd (059090)?
Balance-sheet figures for MiCo Ltd (as of Sep 24, 2026): return on equity 7.7%, debt of 4.87 per unit of equity. They feed the Quality Score of 37/100, which measures business quality independently of the share price.
How far is 059090 from its 52-week high?
MiCo Ltd trades at 22,550 KRW, about 19% below its 52-week high of 27,900 KRW and 89% above the low of 11,910 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 26,224 KRW is for.
Which stocks are comparable to MiCo Ltd?
From the same area (Technology) we also value ASML Holding, Lam Research Corporation, Applied Materials, Inc, 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 MiCo Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price 22,550 KRW, calculated fair value 26,224 KRW (+16%), Quality Score 37/100, from 16 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 059090 calculated?
We run MiCo Ltd through 16 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 26,224 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. MiCo Ltd currently trades 16 % 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 MiCo Ltd (059090)?
The closing price on Sep 23, 2026 was 22,550 KRW. Our model-based fair value is 26,224 KRW, about +16% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with MiCo Ltd right now?
The price sits in the lower half of our model range, the side with the larger margin of safety. Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.

Key figures of MiCo Ltd

How large is the market capitalisation of MiCo Ltd (059090)?
The market capitalisation of MiCo Ltd is 710B KRW (≈ $522M). 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 MiCo Ltd (059090)?
The price-to-sales ratio of MiCo Ltd is 0.43 (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 MiCo Ltd (059090)?
The dividend yield of MiCo Ltd is 2.3%. 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 MiCo Ltd (059090)?
The net margin of MiCo Ltd is 3.0% (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 MiCo Ltd (059090)?
The return on equity (ROE) of MiCo Ltd is 7.7% (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 MiCo Ltd (059090)?
On an EBIT basis the return on assets of MiCo Ltd is 6.1% (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 MiCo Ltd (059090)?
The operating margin of MiCo Ltd is 5.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at MiCo Ltd (059090)?
Revenue at MiCo Ltd is growing +49.8% versus a year earlier (3y avg +33.0%). 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 MiCo Ltd (059090)?
Earnings per share at MiCo Ltd are growing −20.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does MiCo Ltd (059090) generate?
The free cash flow of MiCo Ltd is −300B 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 MiCo Ltd (059090) carry?
The net debt of MiCo Ltd is 794B 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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