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Innox Corporation (088390) Fair Value & Analysis

Consumer Cyclical · KR · Market cap 65.7B KRW

IC Innox Corporation 088390 · KQ
Price7,670 KRW
Fair Value15,804 KRW
Upside+106.1%
Quality54/100
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Weak Growth
Highly profitable · 63.5% net margin
Low debt · negative free cash flow
Ranks above peers (6/7)
Wide moat 79/100
Evidence: Medium Range 11,853 KRW – 19,755 KRW Share as image

Fair value as of: Jul 22, 2026

From 15 valuation models · updated 19 days ago

Share price −1.3% over the past month.

A solid business, screening 106% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (11,853 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.
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Price vs Fair Value (5 years)

53,300 KRW 5,820 KRW Fair Value 15,804 KRW Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 22, 2026.

How to read this chart

60‑month range 5,820 KRW – 53,300 KRW · fair‑value band 11,853 KRW – 19,755 KRW · the 7,670 KRW price screens below the 15,804 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 22, 2026.

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Analysis

Innox Corporation (088390) currently trades at 7,670 KRW, while our model-based Fair Value estimate is 15,804 KRW, implying the stock looks roughly 106.1% undervalued today. The Quality Score stands at 54/100 (solid quality), in the Consumer Cyclical sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.

Over the trailing twelve months, Innox Corporation generated revenue of 88.0B KRW at a net margin of 63.5%. Revenue grew 28.5% year over year. Net debt stands at 22.4B KRW. Fundamentals as of Jul 22, 2026

Our scenario range runs from 11,853 KRW (bear case) to 19,755 KRW (bull case); at 7,670 KRW, the current price sits below 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 about 56% below its 52-week high and 6% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 41% fair-value upside, at 106%, 088390 screens cheaper 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.

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
Highest evidence
Residual Income 17,872 KRW 22,692 KRW 61,042 KRW 76
ROIC Compounder 8,718 KRW 9,556 KRW 10,289 KRW 72
Gordon GGM 923.68 KRW 1,036 KRW 1,186 KRW 70
All 15 models by family
DCF Models
Owner Earnings 22,601 KRW 29,585 KRW 43,107 KRW 31
Earnings-Based
Graham-Dodd 16,851 KRW 24,085 KRW 28,274 KRW 54
EPV 8,718 KRW 9,556 KRW 10,289 KRW 59
Dividend Discount
Gordon GGM 923.68 KRW 1,036 KRW 1,186 KRW 70
DDM Multi-Stage 923.68 KRW 1,195 KRW 1,551 KRW 61
Multiples
P/E Multiple 37,172 KRW 49,563 KRW 61,954 KRW 63
P/S Multiple 11,853 KRW 15,804 KRW 19,755 KRW 58
P/B Multiple 31,596 KRW 42,128 KRW 52,661 KRW 55
EV/EBIT 13,227 KRW 16,406 KRW 19,585 KRW 53
EV/EBITDA 13,384 KRW 16,616 KRW 19,847 KRW 54
EV/Revenue 10,118 KRW 12,873 KRW 15,629 KRW 43
Asset-Based
NCAV (Graham) 9,363 KRW 12,547 KRW 18,726 KRW 50
Economic Profit
Residual Income 17,872 KRW 22,692 KRW 61,042 KRW 76
ROIC Compounder 8,718 KRW 9,556 KRW 10,289 KRW 72
Growth Earnings
Growth-Adj P/E 26,298 KRW 37,569 KRW 48,839 KRW 68

Widest divergence: Growth Earnings (37,569 KRW) versus Dividend Discount (1,036 KRW). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 88.0B KRW
Revenue growth (YoY) +28.5%
Net margin 63.5%
Return on equity -921%
Free cash flow −12.5B KRW FY2025
Operating margin 33.4%
More key figures
EPS growth (YoY) +13.0%
Net debt 22.4B KRW FY2025

Figures from reported company fundamentals · as of Jul 22, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 54/100

Of which business quality 46 · Market factors (momentum, volatility) 5

Profitability 45
Margins and returns on capital today
Quality Growth 53
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 51
Balance sheet, leverage, solvency risk
Investment 75
Disciplined investing over empire-building
Low Volatility 10
Calm price path (market factor)
Momentum 2
Price trend over the last 3–12 months (market factor)
52W Momentum 5
Distance to the 52-week high (market factor)
Net Issuance 80
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Innox Corporation provides IT materials in South Korea. The company offers circuit materials, semiconductor materials, and OLED materials. It also provides sports/leisure bicycles, household bicycles, electric bicycles, bicycle parts, bike ware; and management consulting services, as well as silicon powder.

Full company description

Innox Corporation provides IT materials in South Korea. The company offers circuit materials, semiconductor materials, and OLED materials. It also provides sports/leisure bicycles, household bicycles, electric bicycles, bicycle parts, bike ware; and management consulting services, as well as silicon powder. The company was formerly known as Saehan Micronics Inc. and changed its name to Innox Corporation in March 2005. Innox Corporation was founded in 2001 and is headquartered in Asan, South Korea.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Innox Corporation reported revenue of 59.1B KRW in FY2025 versus 75.1B KRW in FY2021, a compound −5.8%/yr. Reported net income was 23.2B KRW in FY2025, compounding −18.4%/yr from FY2021.

Growth Quality 34/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
59.1B KRW
Latest YoY
+5.2%
Avg. growth/yr (3Y) 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.
−9.8%
Avg. growth/yr (5Y) 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.
+1.7%
Avg. growth/yr (14Y) 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.
−4.7%
Revenue −5.8%/yr
FY21 75.1B KRW
FY22 80.4B KRW
FY23 61.7B KRW
FY24 56.2B KRW
FY25 59.1B KRW
Net income −18.4%/yr
FY21 52.2B KRW
FY22 14.9B KRW
FY23 −13.8B KRW
FY24 −19.9B KRW
FY25 23.2B KRW

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Cite: Fair Value Calculator (2026). "Innox Corporation Fair Value". https://www.fairvalue-calculator.com/stock/088390

Peer Group

Information Technology · 3412 stocks

How this stock ranks against its sector: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median. (Industry “Leisure Products” was too small, so the broader sector is used.)

Quality Score 54 · Below median
Fair Value upside +106% · Top 25%
Return on assets 7% · Top 25%
Net margin (TTM) 63% · Top 25%
Operating margin (TTM) 33% · Top 25%
Revenue growth 29% · Top 25%
Debt / equity 0.05× · Lower than median

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 100 · sector 0
FUTURE 100 · sector 38
PAST 0 · sector 22
HEALTH 97 · sector 97
DIVIDEND 0 · sector 28

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

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

Similar stocks

10 more Leisure Products stocks, each showing price versus our Fair Value estimate (as of Jul 22, 2026).

Stock Price Fair Value vs Fair Value
GOLFZON NEWDIN HOLDINGS Co 121440 6,650 KRW 10,283 KRW +55%
Aurora World Corporation 039830 18,740 KRW 35,062 KRW +87%
SONOKONG Co 066910 2,500 KRW 644.60 KRW -74%
VC Inc 365900 2,585 KRW 1,682 KRW -35%
Toyota Motor Corporation TMN 3,052 MXN 4,134 MXN +35%
Hyundai Motor Company 005380 425,000 KRW 616,918 KRW +45%
Maruti Suzuki India Limited MARUTI ₹13,803 ₹8,236 -40%
Kia Corporation 000270 145,000 KRW 350,994 KRW +142%
Bajaj Auto Limited BAJAJAUTO ₹10,381 ₹4,730 -54%
Hyundai Mobis Co 012330 482,000 KRW 678,420 KRW +41%

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Frequently asked questions

Is Innox Corporation (088390) overvalued or undervalued?
As of Jul 22, 2026, our model estimates a fair value of 15,804 KRW versus a price of 7,670 KRW, about +106% (undervalued).
What is the fair value of 088390?
Our model-based fair value for Innox Corporation is 15,804 KRW (as of Jul 22, 2026), built from audited fundamentals. The current price is 7,670 KRW.
What is the quality score of 088390?
Innox Corporation 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 revenue of Innox Corporation (088390)?
Innox Corporation reported trailing-twelve-month revenue of about 88.0B KRW (latest available figure, as of Jul 22, 2026).
What is the net profit margin of 088390?
The net profit margin of Innox Corporation is about 63.5%, meaning it keeps roughly 63.5% of revenue as net income. Based on the latest reported figures.

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.

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