CQV Co. Ltd (101240) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of CQV Co. Ltd KRW 6,102, price KRW 3,335, upside +83.0%, quality 42 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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CQV Co., Ltd. engages in the manufacture and sale of pearlescent pigments worldwide.
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CQV Co., Ltd. engages in the manufacture and sale of pearlescent pigments worldwide. The company offers synthetic mica, natural mica, glass, and alumina pigments primarily under the Reflex, Reflex Natural, Reflex Color, Reflex Natural Color, Axion Color, Axion, Chaos, Multiorora, Ferrius, Kromax, Multiorora Axion, and Adamas brands for industrial use, as well as under the Automotive, Automotive Natural, Automotive Chaos, Automotive Axion, Automotive Kromax, Automotive Ferrius, and Adamas Exterior brands for automotive use. It also provides its products under the Cosmetica, Cosmetica Natural, Skolor, Skolor Natural, Skolor Glare, Glare, Soliens, Esorora, Esochroma, Hierro, Magchrom, Blondie, Econa S, Econa N, Esorora Glare, Spectra, Featheleve, Twinone, and Mirinae brands for cosmetic use. The company was formerly known as Sky Chemical Co., Ltd. and changed its name to CQV Co., Ltd. in March 2005. CQV Co., Ltd. was incorporated in 2000 and is based in Jincheon-eup, South Korea.
Stock analysis
CQV Co. Ltd (101240) currently trades at 3,335 KRW, while our model-based Fair Value estimate is 6,102 KRW, implying the stock looks roughly 45.3% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 11,382 KRW per share, and 24 of the 24 models we run sit above the 3,335 KRW price.
Bear case: the Earnings-Based group reads lowest at 5,753 KRW, and 0 of the 24 models stay below the price. Evidence for this calculation is low.
Scenario range: 4,435 KRW (bear) to 8,240 KRW (bull), the price of 3,335 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 42/100 (below-average quality), in the Basic Materials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
CQV Co. Ltd reported revenue of 56.5B KRW in FY2025 versus 40.0B KRW in FY2021, a compound +9.0%/yr. Reported net income was 9.5B KRW in FY2025, compounding +28.1%/yr from FY2021.
Key figures
Market cap 36.2B KRW (≈ $26.7M) · P/S ratio 0.57 · Net margin 16.7% · Return on equity 9.8% · Return on assets (EBIT) 6.6% · Operating margin 19.2% · Revenue (TTM) 57.6B KRW · Revenue growth (YoY) +7.3%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (low confidence).
What moves the price
The share trades about 36% below its 52-week high and 17% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −25% fair-value upside, at 83%, 101240 screens cheaper than that median.
Fair Value models
Bear 4,435 KRWFair Value 6,102 KRWBull 8,240 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. 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.77/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−6.0%
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.
+6.9%
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.
+8.9%
Start year 2020 (pandemic). Over 10 years: +6.3% a year
Revenue growth 11 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.
+6.0%
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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. Basis: EBIT basis. 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.
+15.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+15.5%
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.16.4% vs 4.4%, picking up
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.11% → 18%
Start year 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−13.7%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (South Korea: IMF forecast 2.1% a year to 2030, 2.1% from 2016 to 2025) that is about −15.5% a year for the price.
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 · 347 stocks
Beats the industry median on 7/8 measures
Overall it ranks above its industry peers.
Valuation
Quality Score42 · Below median
Fair Value upside+83.0% · Top 25%
Profitability
Return on equity (TTM)9.8% · Above median
Return on assets5.1% · Top 25%
Net margin (TTM)17.1% · Top 25%
Operating margin (TTM)19.2% · Top 25%
Growth and dividend
Revenue growth7.3% · Above median
Valuation Multiplesvs Chemicals median · lower = cheaper
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Is CQV Co. Ltd (101240) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of 6,102 KRW versus a price of 3,335 KRW, about +83% upside (undervalued).
What is the fair value of 101240?
Our model-based fair value for CQV Co. Ltd is 6,102 KRW (as of Sep 27, 2026), built from audited fundamentals. The current price: 3,335 KRW.
What is the quality score of 101240?
CQV Co. Ltd has a Quality Score of 42/100. 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 CQV Co. Ltd (101240)?
Our model-based price target is the fair value of 6,102 KRW (as of Sep 27, 2026) from 24 valuation models. Cautious scenario 4,435 KRW, optimistic scenario 8,240 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the CQV Co. Ltd stock forecast for 2026?
Our models put fair value at 6,102 KRW, about +83% upside versus a price of 3,335 KRW (undervalued). Cautious scenario 4,435 KRW, optimistic scenario 8,240 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of CQV Co. Ltd (101240)?
CQV Co. Ltd reported trailing-twelve-month revenue of about 57.6B KRW (latest available figure, as of Sep 27, 2026).
What growth is priced into CQV Co. Ltd (101240)?
For today's price to be fair in a discounted-cash-flow model, CQV Co. Ltd would have to grow free cash flow by -13.7 % per year for five years (discount rate 8.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +8.9 % per year. As of Sep 27, 2026.
What discount rate (WACC) does the fair value of 101240 use?
Our models discount CQV Co. Ltd at 8.9 %: a base by market capitalisation (nano), damped by beta 0.42, country premium for South Korea. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For CQV Co. Ltd that is -13.7 % per year a year over ten years, using the same discount rate (8.9 %) and the same formula as our fair value.
How much growth has CQV Co. Ltd (101240) delivered so far?
Over the past 5 years revenue at CQV Co. Ltd grew +8.9 % a year. The price currently implies -13.7 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of CQV Co. Ltd (101240) growing?
The median revenue growth in the sector is +3.4 % a year. That is the yardstick for the growth priced into CQV Co. Ltd (-13.7 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of CQV Co. Ltd (101240)?
The free-cash-flow yield on the price is 18.88 %: that much free cash flow CQV Co. Ltd produces per unit of market value. When it exceeds the discount rate of our models (8.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of CQV Co. Ltd (101240)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For CQV Co. Ltd it is 6,102 KRW per share (as of Sep 27, 2026), against a price of 3,335 KRW. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is CQV Co. Ltd stock overvalued or undervalued in 2026?
As of Sep 27, 2026, 101240 trades below its calculated fair value: price 3,335 KRW, fair value 6,102 KRW, a gap of about +83% (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 101240?
No. The price is what the market pays today (3,335 KRW); the fair value is what the company's own numbers justify (6,102 KRW). For CQV Co. Ltd the two are 2,767 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is CQV Co. Ltd worth?
The market values CQV Co. Ltd at about 36.2B KRW (market capitalisation, as of Sep 27, 2026). Per share that is 3,335 KRW; our models calculate a fair value of 6,102 KRW per share.
What do the bullish and bearish scenarios say about 101240?
Our models span a range for CQV Co. Ltd: cautious scenario 4,435 KRW, base 6,102 KRW, optimistic 8,240 KRW per share (as of Sep 27, 2026, price 3,335 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of CQV Co. Ltd (101240)?
Balance-sheet figures for CQV Co. Ltd (as of Sep 27, 2026): return on equity 9.8%. They feed the Quality Score of 42/100, which measures business quality independently of the share price.
How far is 101240 from its 52-week high?
CQV Co. Ltd trades at 3,335 KRW, about 36% below its 52-week high of 5,200 KRW and 17% above the low of 2,840 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 6,102 KRW is for.
Which stocks are comparable to CQV Co. Ltd?
From the same area (Basic Materials) we also value Ningxia Baofeng Energy Group, Dow Inc, Hengli Petrochemical Co, Zangge Mining Company, 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 CQV Co. Ltd stock attractive at the current price?
The data as of Sep 27, 2026: price 3,335 KRW, calculated fair value 6,102 KRW (+83%), Quality Score 42/100, from 24 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 101240 calculated?
We run CQV Co. Ltd through 24 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 6,102 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 16.1 % above its aggregate fair value. CQV Co. Ltd currently trades 83 % 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 CQV Co. Ltd (101240)?
The closing price on Sep 23, 2026 was 3,335 KRW. Our model-based fair value is 6,102 KRW, about +83% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with CQV Co. Ltd right now?
The large discount to fair value meets weak quality (42/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (4,435 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. A fairly wide model range (4,435 KRW to 8,240 KRW) leaves room in how you read the outcome.
Key figures of CQV Co. Ltd
How large is the market capitalisation of CQV Co. Ltd (101240)?
The market capitalisation of CQV Co. Ltd is 36.2B KRW (≈ $26.7M). 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 CQV Co. Ltd (101240)?
The price-to-sales ratio of CQV Co. Ltd is 0.57 (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 CQV Co. Ltd (101240)?
The net margin of CQV Co. Ltd is 16.7% (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 CQV Co. Ltd (101240)?
The return on equity (ROE) of CQV Co. Ltd is 9.8% (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 CQV Co. Ltd (101240)?
On an EBIT basis the return on assets of CQV Co. Ltd is 6.6% (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 CQV Co. Ltd (101240)?
The operating margin of CQV Co. Ltd is 19.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at CQV Co. Ltd (101240)?
Revenue at CQV Co. Ltd is growing +7.3% versus a year earlier (3y avg +6.9%). 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 CQV Co. Ltd (101240)?
Earnings per share at CQV Co. Ltd are growing +21.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does CQV Co. Ltd (101240) carry?
The net debt of CQV Co. Ltd is 8.3B KRW (fiscal year 2025, ≈ 1.2 yrs of FCF). 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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