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CQV Co (101240) Fair Value & Analysis

Basic Materials · KR · Market cap 32.8B KRW

CC CQV Co 101240 · KQ
Price3,305 KRW
Fair Value5,976 KRW
Upside+80.8%
Quality42/100
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Mixed Growth
Solidly profitable · 17.1% net margin
Low debt · generates free cash flow
Ranks above peers (8/9)
Moderate moat 59/100
Evidence: High Range 3,816 KRW – 7,358 KRW Share as image

Fair value as of: Aug 13, 2026

From 26 valuation models · updated today

Fair value updated Aug 13, 2026, revised from 10,056 KRW to 5,976 KRW (−40.6%) since Jul 22, 2026. Share price +12.6% over the past month.

Below-average quality, screening 81% undervalued on our models.

What matters 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 (3,816 KRW). The market is more pessimistic than our downside scenario.
  • A fairly wide model range (3,816 KRW to 7,358 KRW) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

9,727 KRW 2,840 KRW Fair Value 5,976 KRW Mar 2021 Aug 2026

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 2,840 KRW – 9,727 KRW · fair‑value band 3,816 KRW – 7,358 KRW · the 3,305 KRW price screens below the 5,976 KRW fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

CQV Co (101240) currently trades at 3,305 KRW, while our model-based Fair Value estimate is 5,976 KRW, implying the stock looks roughly 80.8% undervalued today. The Quality Score stands at 42/100 (below-average quality), in the Basic Materials 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: high), always confirm before acting.

Over the trailing twelve months, CQV Co generated revenue of 57.6B KRW at a net margin of 17.1%. Revenue grew 7.3% year over year. It earns a return on equity of 9.8%. Net debt stands at 8.3B KRW. Fundamentals as of Aug 13, 2026

Our scenario range runs from 3,816 KRW (bear case) to 7,358 KRW (bull case); at 3,305 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 38% below its 52-week high and 8% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -53% fair-value upside, at 81%, 101240 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 8,036 KRW 11,573 KRW 16,646 KRW 80
Residual Income 8,880 KRW 9,547 KRW 11,357 KRW 76
Rev-Margin DCF 5,969 KRW 8,693 KRW 11,849 KRW 74
All 26 models by family
DCF Models
FCF DCF 7,914 KRW 11,912 KRW 18,020 KRW 38
Owner Earnings 10,447 KRW 15,860 KRW 24,130 KRW 31
5Y Revenue Exit 5,969 KRW 8,638 KRW 11,984 KRW 39
5Y EBITDA Exit 6,458 KRW 9,554 KRW 13,114 KRW 41
5Y P/E Exit 8,553 KRW 13,477 KRW 18,634 KRW 38
10Y Revenue Exit 6,473 KRW 9,077 KRW 12,478 KRW 36
10Y EBITDA Exit 6,918 KRW 9,713 KRW 13,341 KRW 37
10Y P/E Exit 8,254 KRW 12,438 KRW 17,558 KRW 35
Earnings-Based
Graham-Dodd 5,918 KRW 18,483 KRW 24,590 KRW 54
Lynch FV 4,027 KRW 5,753 KRW 7,479 KRW 50
PEG = 1.0 4,027 KRW 5,753 KRW 7,479 KRW 46
EPV 8,764 KRW 10,098 KRW 11,265 KRW 59
Dividend Discount
Gordon GGM 1,364 KRW 2,836 KRW 4,499 KRW 70
DDM Multi-Stage 1,364 KRW 2,259 KRW 2,977 KRW 61
Multiples
P/E Multiple 9,138 KRW 12,184 KRW 15,230 KRW 63
P/S Multiple 4,684 KRW 6,246 KRW 7,807 KRW 58
P/B Multiple 11,096 KRW 14,795 KRW 18,494 KRW 55
EV/EBIT 7,785 KRW 10,127 KRW 12,469 KRW 53
EV/EBITDA 6,287 KRW 8,130 KRW 9,972 KRW 54
EV/Revenue 5,132 KRW 7,005 KRW 8,879 KRW 43
Asset-Based
NCAV (Graham) 5,318 KRW 7,127 KRW 10,637 KRW 50
Growth DCF
Growth DCF 8,036 KRW 11,573 KRW 16,646 KRW 80
Rev-Margin DCF 5,969 KRW 8,693 KRW 11,849 KRW 74
Economic Profit
Residual Income 8,880 KRW 9,547 KRW 11,357 KRW 76
ROIC Compounder 8,764 KRW 10,098 KRW 11,974 KRW 72
Growth Earnings
Growth-Adj P/E 7,968 KRW 11,382 KRW 14,797 KRW 68

Widest divergence: Growth Earnings (11,382 KRW) versus Dividend Discount (2,259 KRW). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 57.6B KRW
Revenue growth (YoY) +7.3%
Net margin 17.1%
Return on equity 9.8%
Free cash flow 6.8B KRW FY2025
Operating margin 19.2%
More key figures
EPS growth (YoY) +21.9%
Net debt 8.3B KRW FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 42/100

Of which business quality 44 · Market factors (momentum, volatility) 36

Profitability 42
Margins and returns on capital today
Quality Growth 29
Are margins and returns improving?
Cashflow 54
Earnings quality: real cash, not paper profit
Fin. Strength 68
Balance sheet, leverage, solvency risk
Investment 30
Disciplined investing over empire-building
Low Volatility 82
Calm price path (market factor)
Momentum 16
Price trend over the last 3–12 months (market factor)
52W Momentum 16
Distance to the 52-week high (market factor)
Net Issuance 21
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

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 …

Full company description

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.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

CQV Co 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.

Growth Quality 77/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
56.5B KRW
Latest YoY
−6.0%
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.
+6.9%
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.
+8.9%
Avg. growth/yr (11Y) 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.
+6.0%
Revenue +9.0%/yr
FY21 40.0B KRW
FY22 46.3B KRW
FY23 51.1B KRW
FY24 60.1B KRW
FY25 56.5B KRW
Net income +28.1%/yr
FY21 3.5B KRW
FY22 5.4B KRW
FY23 3.4B KRW
FY24 9.3B KRW
FY25 9.5B KRW

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Cite: Fair Value Calculator (2026). "CQV Co Fair Value". https://www.fairvalue-calculator.com/stock/101240

Peer Group

Chemicals · 332 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 42 · Bottom 25%
Fair Value upside +81% · Top 25%
Return on equity (TTM) 10% · Above median
Return on assets 5% · Top 25%
Net margin (TTM) 17% · Top 25%
Operating margin (TTM) 19% · Top 25%
Revenue growth 7% · Above median

Valuation Multiples vs Chemicals 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 0
FUTURE 37 · sector 19
PAST 39 · sector 20
HEALTH 100 · sector 94
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 Chemicals stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
BASF SE BASN 1,034 MXN 467.04 MXN -55%
PT Barito Pacific Tbk, BRPT 1,950 IDR 1,608 IDR -18%
LG Chem, Ltd 051910 275,500 KRW 587,755 KRW +113%
PTT Global Chemical Public Company PTTGC 38.50 THB 18.21 THB -53%
542812 542812 ₹4,709 ₹791.05 -83%
Navin Fluorine International Limited NAVINFLUOR ₹8,357 ₹2,146 -74%
Kansai Nerolac Paints Limited 500165 ₹209.25 ₹80.51 -62%
Deepak Nitrite Limited DEEPAKNTR ₹1,718 ₹679.17 -60%
KCC Corporation 002380 454,000 KRW 1,763,304 KRW +288%
Deepak Fertilisers And Petrochemicals Corporation DEEPAKFERT ₹1,456 ₹990.72 -32%

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Frequently asked questions

Is CQV Co (101240) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 5,976 KRW versus a price of 3,305 KRW, about +81% (undervalued).
What is the fair value of 101240?
Our model-based fair value for CQV Co is 5,976 KRW (as of Aug 13, 2026), built from audited fundamentals. The current price is 3,305 KRW.
What is the quality score of 101240?
CQV Co 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 revenue of CQV Co (101240)?
CQV Co reported trailing-twelve-month revenue of about 57.6B KRW (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 101240?
The net profit margin of CQV Co is about 17.1%, meaning it keeps roughly 17.1% 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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