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Innox Corporation (088390) fair value: what the stock is really worth

As of Sep 23, 2026: fair value of Innox Corporation KRW 24,300, price KRW 8,100, upside +200.0%, quality 54 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? Yes
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Consumer Cyclical · KR · ISIN KR7088390000

IC Thin data Sep 24, 2026

Innox Corporation

088390 · KQ

Clearly undervaluedStrong Fair Value upside, but quality is only moderate.

✓Fair value 24,300 KRW · Strongly undervalued (+200%)
!Quality 54/100
!Weak Growth (revenue 5y +1.7 %/yr)
✓Highly profitable · 63.5% net margin (TTM)
!Low debt · negative free cash flow
✓Ranks above peers (6/7)
✓Wide moat 79/100
!Evidence only low, 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

53,300 KRW 5,820 KRW Fair Value 24,300 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 5,820 KRW – 53,300 KRW · fair‑value band 19,888 KRW – 31,997 KRW · the 8,100 KRW price screens below the 24,300 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is 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

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.

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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.

Stock analysis

Innox Corporation (088390) currently trades at 8,100 KRW, while our model-based Fair Value estimate is 24,300 KRW, implying the stock looks roughly 66.7% undervalued today.

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Valuation

Bull case: the Growth Earnings group reads highest at a median of 52,001 KRW per share, and 13 of the 13 models we run sit above the 8,100 KRW price.

Bear case: the Earnings-Based group reads lowest at 9,247 KRW, and 0 of the 13 models stay below the price. Evidence for this calculation is low.

Scenario range: 19,888 KRW (bear) to 31,997 KRW (bull), the price of 8,100 KRW sits below 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 54/100 (solid quality), in the Consumer Cyclical sector.

Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.

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.

Key figures

Market cap 76.0B KRW (≈ $55.9M) · P/S ratio 0.75 · Net margin 39.2% · Return on equity −921% · Return on assets (EBIT) 3.5% · Operating margin 33.4% · Revenue (TTM) 88.0B KRW · Revenue growth (YoY) +28.5%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (low confidence).

What moves the price

The share trades about 52% below its 52-week high and 39% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Consumer Cyclical peers we cover trades at −9% fair-value upside, at 200%, 088390 screens cheaper than that median.

Fair Value models

Bear 19,888 KRW Fair Value 24,300 KRW Bull 31,997 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 26,187 KRW 33,911 KRW 48,437 KRW 77
EPV 8,489 KRW 9,247 KRW 9,901 KRW 74
ROIC Compounder 8,489 KRW 9,247 KRW 9,901 KRW 72
All 13 models by family
DCF Models
Owner Earnings 26,187 KRW 33,911 KRW 48,437 KRW 77
Earnings-Based
Graham-Dodd 16,851 KRW 24,085 KRW 28,274 KRW 67
EPV 8,489 KRW 9,247 KRW 9,901 KRW 74
Multiples
P/E Multiple 52,041 KRW 69,388 KRW 86,735 KRW 63
P/S Multiple 26,077 KRW 34,769 KRW 43,461 KRW 58
P/B Multiple 31,596 KRW 42,128 KRW 52,661 KRW 55
EV/EBIT 16,406 KRW 20,644 KRW 24,883 KRW 66
EV/EBITDA 17,113 KRW 21,587 KRW 26,062 KRW 67
EV/Revenue 10,118 KRW 12,873 KRW 15,629 KRW 54
Asset-Based
NCAV (Graham) 9,363 KRW 12,547 KRW 18,726 KRW 54
Economic Profit
Residual Income 17,629 KRW 21,398 KRW 45,447 KRW 66
ROIC Compounder 8,489 KRW 9,247 KRW 9,901 KRW 72
Growth Earnings
Growth-Adj P/E 36,401 KRW 52,001 KRW 67,602 KRW 67

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Quality Score breakdown

Overall quality 54/100

Of which business quality 46 · Market factors (momentum, volatility) 15

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 21
Price trend over the last 3–12 months (market factor)
52W Momentum 13
Distance to the 52-week high (market factor)
Net Issuance 80
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. 34/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+5.2%
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.
−9.8%
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.
+1.7%
Start year 2020 (pandemic). Over 10 years: −12.0% 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.
−4.7%
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.
−6.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year−6.0%
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.−6% vs 2%, 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.20% → 11%
Start year 2020 (pandemic)

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Peer Groupⓘ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.)Information Technology · 3805 stocks

Beats the sector median on 6/7 measures
Overall it ranks above its sector peers.
Valuation
Quality Score 54 · Below median
Fair Value upside +200% · Top 25%
Profitability
Return on assets 7% · Top 25%
Net margin (TTM) 63% · Top 25%
Operating margin (TTM) 33% · Top 25%
Growth and dividend
Revenue growth 29% · Top 25%
Balance sheet
Debt / equity 0.05× · Below median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 7
FUTURE (revenue growth)100 · sector 41
PAST (return on equity)0 · sector 24
HEALTH (low debt)97 · sector 97
DIVIDEND (yield)0 · sector 28

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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Fast Retailing Co 6288 HK$33.84 HK$30.74 −9%
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Innox Corporation · Fair Value
24,300 KRW +67%Fair Value
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Cite: Fair Value Calculator (2026). "Innox Corporation Fair Value". https://www.fairvalue-calculator.com/stock/088390

Frequently asked questions

Is Innox Corporation (088390) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 24,300 KRW versus a price of 8,100 KRW, about +200% upside (undervalued).
What is the fair value of 088390?
Our model-based fair value for Innox Corporation is 24,300 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 8,100 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 price target for Innox Corporation (088390)?
Our model-based price target is the fair value of 24,300 KRW (as of Sep 24, 2026) from 13 valuation models. Cautious scenario 19,888 KRW, optimistic scenario 31,997 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Innox Corporation stock forecast for 2026?
Our models put fair value at 24,300 KRW, about +200% upside versus a price of 8,100 KRW (undervalued). Cautious scenario 19,888 KRW, optimistic scenario 31,997 KRW. The calculation is refreshed regularly with new filings.
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 Sep 24, 2026).
What is the intrinsic value of Innox Corporation (088390)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Innox Corporation it is 24,300 KRW per share (as of Sep 24, 2026), against a price of 8,100 KRW. It is the blended result of 13 valuation models (cash flow, earnings, asset, dividend).
Is Innox Corporation stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 088390 trades below its calculated fair value: price 8,100 KRW, fair value 24,300 KRW, a gap of about +200% (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 088390?
No. The price is what the market pays today (8,100 KRW); the fair value is what the company's own numbers justify (24,300 KRW). For Innox Corporation the two are 16,200 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Innox Corporation worth?
The market values Innox Corporation at about 76.0B KRW (market capitalisation, as of Sep 24, 2026). Per share that is 8,100 KRW; our models calculate a fair value of 24,300 KRW per share.
What do the bullish and bearish scenarios say about 088390?
Our models span a range for Innox Corporation: cautious scenario 19,888 KRW, base 24,300 KRW, optimistic 31,997 KRW per share (as of Sep 24, 2026, price 8,100 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Innox Corporation (088390)?
Balance-sheet figures for Innox Corporation (as of Sep 24, 2026): debt of 0.05 per unit of equity. They feed the Quality Score of 54/100, which measures business quality independently of the share price.
How far is 088390 from its 52-week high?
Innox Corporation trades at 8,100 KRW, about 52% below its 52-week high of 16,850 KRW and 39% above the low of 5,820 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 24,300 KRW is for.
Which stocks are comparable to Innox Corporation?
From the same area (Consumer Cyclical) we also value GOLFZON NEWDIN HOLDINGS Co, Aurora World Corporation, SONOKONG Co, VC Inc, 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 Innox Corporation stock attractive at the current price?
The data as of Sep 24, 2026: price 8,100 KRW, calculated fair value 24,300 KRW (+200%), Quality Score 54/100, from 13 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 088390 calculated?
We run Innox Corporation through 13 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 24,300 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. Innox Corporation currently trades 200 % 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 Innox Corporation (088390)?
The closing price on Sep 23, 2026 was 8,100 KRW. Our model-based fair value is 24,300 KRW, about +200% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Innox Corporation right now?
The price is below even our cautious bear case (19,888 KRW). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (54/100) at a price below fair value, the discount is the argument here, not the business quality.

Key figures of Innox Corporation

How large is the market capitalisation of Innox Corporation (088390)?
The market capitalisation of Innox Corporation is 76.0B KRW (≈ $55.9M). 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 Innox Corporation (088390)?
The price-to-sales ratio of Innox Corporation is 0.75 (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 Innox Corporation (088390)?
The net margin of Innox Corporation is 39.2% (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 Innox Corporation (088390)?
The return on equity (ROE) of Innox Corporation is −921% (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 Innox Corporation (088390)?
On an EBIT basis the return on assets of Innox Corporation is 3.5% (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 Innox Corporation (088390)?
The operating margin of Innox Corporation is 33.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Innox Corporation (088390)?
Revenue at Innox Corporation is growing +28.5% versus a year earlier (3y avg −9.8%). 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 Innox Corporation (088390)?
Earnings per share at Innox Corporation are growing +13.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Innox Corporation (088390) generate?
The free cash flow of Innox Corporation is −12.5B 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 Innox Corporation (088390) carry?
The net debt of Innox Corporation is 22.4B 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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