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KPX Holdings (092230) Fair Value & Analysis

Industrials · KR · Market cap 324B KRW

KH KPX Holdings 092230 · KO
Price87,900 KRW
Fair Value164,200 KRW
Upside+86.8%
Quality46/100
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Mixed Growth
Thin margins · 9.8% net margin
Low debt · generates free cash flow
7.45% dividend yield
Ranks above peers (7/10)
Narrow moat 41/100
Evidence: Medium Range 123,150 KRW – 205,250 KRW Share as image

Fair value as of: Jul 22, 2026

From 12 valuation models · updated 19 days ago

Fair value updated Jul 22, 2026, revised from 157,600 KRW to 164,200 KRW (+4.2%) since Jun 26, 2026. Share price +4.7% over the past month.

Below-average quality, screening 87% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (123,150 KRW). The market is more pessimistic than our downside scenario.
  • Solid quality (46/100) 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)

89,124 KRW 39,099 KRW Fair Value 164,200 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 39,099 KRW – 89,124 KRW · fair‑value band 123,150 KRW – 205,250 KRW · the 87,900 KRW price screens below the 164,200 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.

Full chart & analysis →

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Analysis

KPX Holdings (092230) currently trades at 87,900 KRW, while our model-based Fair Value estimate is 164,200 KRW, implying the stock looks roughly 86.8% undervalued today. The Quality Score stands at 46/100 (below-average quality), in the Industrials 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, KPX Holdings generated revenue of 1.2T KRW at a net margin of 9.8%. Revenue grew 5.2% year over year. It earns a return on equity of 10.3%. Net debt stands at 22.7B KRW. Fundamentals as of Jul 22, 2026

Our scenario range runs from 123,150 KRW (bear case) to 205,250 KRW (bull case); at 87,900 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 5% below its 52-week high and 45% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -14% fair-value upside, at 87%, 092230 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
Growth DCF 163,465 KRW 204,327 KRW 280,167 KRW 80
Residual Income 232,123 KRW 246,818 KRW 271,379 KRW 76
Rev-Margin DCF 149,856 KRW 195,636 KRW 252,915 KRW 74
All 12 models by family
DCF Models
Owner Earnings 173,487 KRW 220,915 KRW 316,671 KRW 31
5Y P/E Exit 231,574 KRW 333,103 KRW 456,416 KRW 38
10Y P/E Exit 203,250 KRW 277,720 KRW 352,504 KRW 35
Earnings-Based
Graham-Dodd 136,578 KRW 199,136 KRW 234,898 KRW 54
Dividend Discount
Gordon GGM 78,168 KRW 89,248 KRW 103,516 KRW 70
DDM Multi-Stage 78,168 KRW 103,356 KRW 137,375 KRW 61
Multiples
P/E Multiple 256,084 KRW 341,445 KRW 426,806 KRW 63
P/B Multiple 256,084 KRW 341,445 KRW 426,806 KRW 55
Asset-Based
NCAV (Graham) 139,975 KRW 187,566 KRW 279,950 KRW 50
Growth DCF
Growth DCF 163,465 KRW 204,327 KRW 280,167 KRW 80
Rev-Margin DCF 149,856 KRW 195,636 KRW 252,915 KRW 74
Economic Profit
Residual Income 232,123 KRW 246,818 KRW 271,379 KRW 76

Widest divergence: Multiples (341,445 KRW) versus Dividend Discount (89,248 KRW). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 1.2T KRW
Revenue growth (YoY) +5.2%
Net margin 9.8%
Return on equity 10.3%
Free cash flow 39.7B KRW FY2025
Operating margin 4.3%
More key figures
Dividend yield 7.5%
EPS growth (YoY) -38.1%
Net debt 22.7B KRW FY2025

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

Quality Score breakdown

Overall quality 46/100

Of which business quality 45 · Market factors (momentum, volatility) 75

Profitability 31
Margins and returns on capital today
Quality Growth 23
Are margins and returns improving?
Cashflow 35
Earnings quality: real cash, not paper profit
Fin. Strength 53
Balance sheet, leverage, solvency risk
Investment 64
Disciplined investing over empire-building
Low Volatility 90
Calm price path (market factor)
Momentum 61
Price trend over the last 3–12 months (market factor)
52W Momentum 81
Distance to the 52-week high (market factor)
Net Issuance 79
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

KPX Holdings Co., Ltd., through its subsidiaries, manufactures and sells chemical products. It supplies polymer polyol and PU systems for furniture, shoes, textile, automobile, appliances, construction, container, and other industries.

Full company description

KPX Holdings Co., Ltd., through its subsidiaries, manufactures and sells chemical products. It supplies polymer polyol and PU systems for furniture, shoes, textile, automobile, appliances, construction, container, and other industries. The company also operates tank terminals; leases real estate properties for the handling and storage of liquid freight; constructs and rents buildings. KPX Holdings Co.,Ltd. was founded in 2006 and is based in Seoul, South Korea.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

KPX Holdings reported revenue of 1.2T KRW in FY2025 versus 1.2T KRW in FY2021, a compound −1.5%/yr. Reported net income was 79.3B KRW in FY2025, compounding +14.5%/yr from FY2021.

Growth Quality 39/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
1.2T KRW
Latest YoY
−4.9%
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.
−2.1%
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.
+4.1%
Avg. growth/yr (19Y) 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.
+8.8%
Revenue −1.5%/yr
FY21 1.2T KRW
FY22 1.2T KRW
FY23 1.2T KRW
FY24 1.2T KRW
FY25 1.2T KRW
Net income +14.5%/yr
FY21 46.2B KRW
FY22 8.9B KRW
FY23 84.0B KRW
FY24 77.8B KRW
FY25 79.3B KRW

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Cite: Fair Value Calculator (2026). "KPX Holdings Fair Value". https://www.fairvalue-calculator.com/stock/092230

Peer Group

Conglomerates · 369 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.

Quality Score 46 · Below median
Fair Value upside +87% · Top 25%
Return on equity (TTM) 10% · Above median
Return on assets 1% · Below median
Net margin (TTM) 10% · Top 25%
Operating margin (TTM) 4% · Below median
Revenue growth 5% · Above median
Dividend yield (TTM) 7.5% · Top 25%
Debt / equity 0.04× · Lower than median

Valuation Multiples vs Conglomerates median · lower = cheaper

P/FCF 0.0× · Cheaper than 75% of peers

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 20
FUTURE 26 · sector 16
PAST 41 · sector 20
HEALTH 98 · sector 88
DIVIDEND 100 · sector 39

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 Conglomerates stocks, each showing price versus our Fair Value estimate (as of Jul 22, 2026).

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Grupo Carso, S.A. GCARSOA1 127.02 MXN 66.21 MXN -48%
The Siam Cement Public Company SCC 254.00 THB 199.40 THB -21%
SRF Limited SRF ₹2,875 ₹1,053 -63%
Empresas Copec S.A COPEC 6,330 CLP 10,879 CLP +72%
Posco International Corporation 047050 50,900 KRW 61,248 KRW +20%
Tube Investments of India Limited TIINDIA ₹2,940 ₹559.30 -81%

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Frequently asked questions

Is KPX Holdings (092230) overvalued or undervalued?
As of Jul 22, 2026, our model estimates a fair value of 164,200 KRW versus a price of 87,900 KRW, about +87% (undervalued).
What is the fair value of 092230?
Our model-based fair value for KPX Holdings is 164,200 KRW (as of Jul 22, 2026), built from audited fundamentals. The current price is 87,900 KRW.
What is the quality score of 092230?
KPX Holdings has a Quality Score of 46/100. 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 KPX Holdings (092230)?
KPX Holdings reported trailing-twelve-month revenue of about 1.2T KRW (latest available figure, as of Jul 22, 2026).
What is the net profit margin of 092230?
The net profit margin of KPX Holdings is about 9.8%, meaning it keeps roughly 9.8% of revenue as net income. Based on the latest reported figures.
Does KPX Holdings pay a dividend?
KPX Holdings currently shows a dividend yield of about 6.33% relative to its recent price (as of Jul 22, 2026).

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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