exax Inc (060230) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of exax Inc KRW 438, price KRW 1,430, upside -69.4%, quality 36 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 3, 2026.
How to read this chart
60‑month range 914.00 KRW – 133,500 KRW · fair‑value band 327.03 KRW – 654.06 KRW · the 1,430 KRW price screens above the 438.22 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 3, 2026.
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Sonid Inc. manufactures and sells chemicals, electronic materials, and printed electronics in South Korea. The company offers display chemical products for cleaning, developing, wet etching, and stripping in OLED, TFT-LCD, and TSP applications.
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Sonid Inc. manufactures and sells chemicals, electronic materials, and printed electronics in South Korea. The company offers display chemical products for cleaning, developing, wet etching, and stripping in OLED, TFT-LCD, and TSP applications. It also provides functional electronic materials used in manufacturing electronic parts, including optical clear resins, UV resins, UV color sealants, and gap fillers; photo resist (PR) products, such as column spacer PR, photo sensitive polyimide, OLED and TSP protective films, bridge insulator films, etching PR, and resin black matrix for TSP; and Ag bar pastes/Ag dot pastes and pastes for bezel electrode. In addition, the company offers conductive inks and conductive pastes for printed electronics, including RFID tags, NFC antennas, and bio sensors, as well as metal pastes for solar battery. Further, it manufactures and sells radio frequency identification tags and near field communication products. The company was formerly known as Yapex Inc. and changed its name to Sonid Inc. in March 2022. Sonid Inc. was founded in 1976 and is headquartered in Gumi-si, South Korea.
Stock analysis
exax Inc (060230) currently trades at 1,430 KRW, while our model-based Fair Value estimate is 438.22 KRW, 69.4% below the price, so the stock looks overvalued today.
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Valuation
How firm this estimate is: it rests on 1 models at a data quality of 92/100, which puts the evidence level at low.
Scenario range: 327.03 KRW (bear) to 654.06 KRW (bull), the price of 1,430 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 36/100 (below-average quality), in the Basic Materials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
exax Inc reported revenue of 61.9B KRW in FY2025 versus 29.3B KRW in FY2021, a compound +20.5%/yr. Reported net income was −18.5B KRW in FY2025.
Key figures
Market cap 15.7B KRW (≈ $11.7M) · P/S ratio 0.21 · Net margin −29.8% · Return on equity −3,639% · Return on assets (EBIT) −5.6% · Operating margin −1.2% · Revenue (TTM) 74.4B KRW · Revenue growth (YoY) +169%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 28 out of 100 (low confidence).
What moves the price
The share trades about 66% below its 52-week high and 56% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −24% fair-value upside, at −69%, 060230 screens richer than that median.
Fair Value models
Bear 327.03 KRWFair Value 438.22 KRWBull 654.06 KRW
Price 1,430 KRW · Upside -69.4%
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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.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.44/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+26.8%
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.
+15.6%
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.
+15.7%
Start year 2020 (pandemic). Over 10 years: +1.9% a year
Revenue growth 14 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%
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Profit margin (trend) ⓘ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.
−4.7% (2020) → −13.3% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
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.Chemicals · 342 stocks
Beats the industry median on 2/8 measures
Overall it trails its industry peers.
Valuation
Quality Score36 · Bottom 25%
Fair Value upside−69.4% · Bottom 25%
Profitability
Return on assets−0.5% · Bottom 25%
Net margin (TTM)−5.7% · Bottom 25%
Operating margin (TTM)−1.2% · Bottom 25%
Growth and dividend
Revenue growth169.0% · Top 25%
Balance sheet
Debt / equity0.14× · Above median
Valuation Multiplesvs Chemicals median · lower = cheaper
EV/EBITDA2.4× · Cheapest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 3
FUTURE (revenue growth)100· sector 63
PAST (return on equity)0· sector 23
HEALTH (low debt)93· sector 94
DIVIDEND (yield)0· sector 31
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "exax Inc Fair Value". https://www.fairvalue-calculator.com/stock/060230
Frequently asked questions
Is exax Inc (060230) overvalued or undervalued?
As of Oct 3, 2026, our model estimates a fair value of 438.22 KRW versus a price of 1,430 KRW, about −69% upside (overvalued).
What is the fair value of 060230?
Our model-based fair value for exax Inc is 438.22 KRW (as of Oct 3, 2026), built from audited fundamentals. The current price: 1,430 KRW.
What is the quality score of 060230?
exax Inc has a Quality Score of 36/100. 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 exax Inc (060230)?
Our model-based price target is the fair value of 438.22 KRW (as of Oct 3, 2026) from 1 valuation models. Cautious scenario 327.03 KRW, optimistic scenario 654.06 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the exax Inc stock forecast for 2026?
Our models put fair value at 438.22 KRW, about −69% upside versus a price of 1,430 KRW (overvalued). Cautious scenario 327.03 KRW, optimistic scenario 654.06 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of exax Inc (060230)?
exax Inc reported trailing-twelve-month revenue of about 74.4B KRW (latest available figure, as of Oct 3, 2026).
What is the intrinsic value of exax Inc (060230)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For exax Inc it is 438.22 KRW per share (as of Oct 3, 2026), against a price of 1,430 KRW. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is exax Inc stock overvalued or undervalued in 2026?
As of Oct 3, 2026, 060230 trades above its calculated fair value: price 1,430 KRW, fair value 438.22 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 060230?
No. The price is what the market pays today (1,430 KRW); the fair value is what the company's own numbers justify (438.22 KRW). For exax Inc the two are 991.78 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is exax Inc worth?
The market values exax Inc at about 15.7B KRW (market capitalisation, as of Oct 3, 2026). Per share that is 1,430 KRW; our models calculate a fair value of 438.22 KRW per share.
What do the bullish and bearish scenarios say about 060230?
Our models span a range for exax Inc: cautious scenario 327.03 KRW, base 438.22 KRW, optimistic 654.06 KRW per share (as of Oct 3, 2026, price 1,430 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of exax Inc (060230)?
Balance-sheet figures for exax Inc (as of Oct 3, 2026): debt of 0.14 per unit of equity. They feed the Quality Score of 36/100, which measures business quality independently of the share price.
How far is 060230 from its 52-week high?
exax Inc trades at 1,430 KRW, about 66% below its 52-week high of 4,250 KRW and 56% above the low of 914.00 KRW (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of 438.22 KRW is for.
Which stocks are comparable to exax Inc?
From the same area (Basic Materials) we also value BASF SE, Ningxia Baofeng Energy Group, Dow Inc, Hengli Petrochemical 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 exax Inc stock attractive at the current price?
The data as of Oct 3, 2026: price 1,430 KRW, calculated fair value 438.22 KRW (−69%), Quality Score 36/100, from 1 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 060230 calculated?
We run exax Inc through 1 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 438.22 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 14.9 % above its aggregate fair value. exax Inc 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 exax Inc (060230)?
The closing price on Oct 2, 2026 was 1,430 KRW. Our model-based fair value is 438.22 KRW, about −69% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with exax Inc right now?
The price sits above even our optimistic bull case (654.06 KRW). The favourable scenario is already priced in. Weak quality (36/100) 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. A fairly wide model range (327.03 KRW to 654.06 KRW) leaves room in how you read the outcome.
Key figures of exax Inc
How large is the market capitalisation of exax Inc (060230)?
The market capitalisation of exax Inc is 15.7B KRW (≈ $11.7M). 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 exax Inc (060230)?
The price-to-sales ratio of exax Inc is 0.21 (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 exax Inc (060230)?
The net margin of exax Inc is −29.8% (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 exax Inc (060230)?
The return on equity (ROE) of exax Inc is −3,639% (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 exax Inc (060230)?
On an EBIT basis the return on assets of exax Inc is −5.6% (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 exax Inc (060230)?
The operating margin of exax Inc is −1.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at exax Inc (060230)?
Revenue at exax Inc is growing +169% versus a year earlier (3y avg +15.6%). 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 exax Inc (060230)?
Earnings per share at exax Inc are growing +1,000% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does exax Inc (060230) generate?
The free cash flow of exax Inc is −3.8B 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 exax Inc (060230) carry?
The net debt of exax Inc is 63.8B 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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