exax Inc (060230) Fair Value & Analysis

Basic Materials · KR · Market cap 12.8B KRW

Below-average quality, and screening another 67% overvalued on our models.

What matters now

• The price sits above even our optimistic bull case (654.06 KRW). The favourable scenario is already priced in.
• Weak quality (38/100) 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.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 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 1,316 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 Aug 13, 2026.

Full chart & analysis →

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Analysis

exax Inc (060230) currently trades at 1,316 KRW, while our model-based Fair Value estimate is 438.22 KRW, implying the stock looks roughly 66.7% overvalued today. The Quality Score stands at 38/100 (below-average quality), in the Basic Materials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: low).

Over the trailing twelve months, exax Inc generated revenue of 74.4B KRW at a net margin of -5.7%. Revenue grew 169.0% year over year. Net debt stands at 63.8B KRW. Fundamentals as of Aug 13, 2026

Our scenario range runs from 327.03 KRW (bear case) to 654.06 KRW (bull case); at 1,316 KRW, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -55% fair-value upside, at -67%, 060230 screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Key figures & financial health

Quality Score breakdown

About the company

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.

Full company description

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.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

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.

060230 screens 67% overvalued. Compare with BASF SE →

Peer Group

Chemicals · 333 stocks

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.

Valuation Multiples vs Chemicals median · lower = cheaper

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

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

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

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Frequently asked questions

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.