High Tech Pharm Co. Ltd (106190) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of High Tech Pharm Co. Ltd KRW 17,593, price KRW 9,880, upside +78.1%, quality 57 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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High Tech Pharm Co., Ltd. researches and develops, manufactures, and sells injectable carbapenem-based antibiotics worldwide. The company was incorporated in 1998 and is based in Chungju-si, South Korea.
Stock analysis
High Tech Pharm Co. Ltd (106190) currently trades at 9,880 KRW, while our model-based Fair Value estimate is 17,593 KRW, implying the stock looks roughly 43.8% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 18,347 KRW per share, and 19 of the 22 models we run sit above the 9,880 KRW price.
Bear case: the Asset-Based group reads lowest at 8,234 KRW, and 3 of the 22 models stay below the price. Evidence for this calculation is medium.
Scenario range: 12,705 KRW (bear) to 22,106 KRW (bull), the price of 9,880 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 57/100 (solid quality), in the Healthcare sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
High Tech Pharm Co. Ltd reported revenue of 70.2B KRW in FY2025 versus 73.3B KRW in FY2021, a compound −1.1%/yr. Reported net income was 11.5B KRW in FY2025.
Key figures
Market cap 117B KRW (≈ $86.2M) · P/S ratio 1.70 · Dividend yield 1.5% · Net margin 16.4% · Return on equity 7.2% · Return on assets (EBIT) 6.2% · Operating margin −7.8% · Revenue (TTM) 69.1B KRW.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 43 out of 100 (medium confidence).
What moves the price
The share trades about 60% below its 52-week high and 1% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at −8% fair-value upside, at 78%, 106190 screens cheaper than that median.
Fair Value models
Bear 12,705 KRWFair Value 17,593 KRWBull 22,106 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.
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.40/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−9.5%
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.
−12.0%
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.
−1.2%
Start year 2020 (pandemic). Over 10 years: +3.9% 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.
+1.9%
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What shareholders gained per year (last 3 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 3 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.
+12.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year+10.8%
Dividend (yield on the price)1.5%
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.−5% → 18%
⚠ Revenue per share shrinking 3.6%/yr over ~7Y (margins intact) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
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).
−5.9%
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 −7.8% a year for the price.
Compare High Tech Pharm Co. Ltd with another stock
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.Drug Manufacturers - Specialty & Generic · 629 stocks
Beats the industry median on 6/9 measures
Overall it ranks above its industry peers.
Valuation
Quality Score57 · Above median
Fair Value upside+78% · Top 25%
Profitability
Return on equity (TTM)7% · Above median
Return on assets4% · Above median
Net margin (TTM)13% · Above median
Operating margin (TTM)−8% · Bottom 25%
Growth and dividend
Revenue growth−7% · Bottom 25%
Dividend yield (TTM)1.5% · Below median
Valuation Multiplesvs Drug Manufacturers - Specialty & Generic median · lower = cheaper
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Is High Tech Pharm Co. Ltd (106190) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 17,593 KRW versus a price of 9,880 KRW, about +78% upside (undervalued).
What is the fair value of 106190?
Our model-based fair value for High Tech Pharm Co. Ltd is 17,593 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 9,880 KRW.
What is the quality score of 106190?
High Tech Pharm Co. Ltd has a Quality Score of 57/100. 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 High Tech Pharm Co. Ltd (106190)?
Our model-based price target is the fair value of 17,593 KRW (as of Sep 24, 2026) from 22 valuation models. Cautious scenario 12,705 KRW, optimistic scenario 22,106 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the High Tech Pharm Co. Ltd stock forecast for 2026?
Our models put fair value at 17,593 KRW, about +78% upside versus a price of 9,880 KRW (undervalued). Cautious scenario 12,705 KRW, optimistic scenario 22,106 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of High Tech Pharm Co. Ltd (106190)?
High Tech Pharm Co. Ltd reported trailing-twelve-month revenue of about 69.1B KRW (latest available figure, as of Sep 24, 2026).
Does High Tech Pharm Co. Ltd pay a dividend?
High Tech Pharm Co. Ltd currently shows a dividend yield of about 1.52% relative to its recent price (as of Sep 24, 2026).
What growth is priced into High Tech Pharm Co. Ltd (106190)?
For today's price to be fair in a discounted-cash-flow model, High Tech Pharm Co. Ltd would have to grow free cash flow by -5.9 % per year for five years (discount rate 11.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -1.2 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 106190 use?
Our models discount High Tech Pharm Co. Ltd at 11.6 %: a base by market capitalisation (micro), damped by beta 0.02, 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 High Tech Pharm Co. Ltd that is -5.9 % per year a year over ten years, using the same discount rate (11.6 %) and the same formula as our fair value.
How much growth has High Tech Pharm Co. Ltd (106190) delivered so far?
Over the past 5 years revenue at High Tech Pharm Co. Ltd grew -1.2 % a year. The price currently implies -5.9 % 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 High Tech Pharm Co. Ltd (106190) growing?
The median revenue growth in the sector is +1.9 % a year. That is the yardstick for the growth priced into High Tech Pharm Co. Ltd (-5.9 % 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 High Tech Pharm Co. Ltd (106190)?
The free-cash-flow yield on the price is 14.38 %: that much free cash flow High Tech Pharm Co. Ltd produces per unit of market value. When it exceeds the discount rate of our models (11.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of High Tech Pharm Co. Ltd (106190)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For High Tech Pharm Co. Ltd it is 17,593 KRW per share (as of Sep 24, 2026), against a price of 9,880 KRW. It is the blended result of 22 valuation models (cash flow, earnings, asset, dividend).
Is High Tech Pharm Co. Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 106190 trades below its calculated fair value: price 9,880 KRW, fair value 17,593 KRW, a gap of about +78% (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 106190?
No. The price is what the market pays today (9,880 KRW); the fair value is what the company's own numbers justify (17,593 KRW). For High Tech Pharm Co. Ltd the two are 7,713 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is High Tech Pharm Co. Ltd worth?
The market values High Tech Pharm Co. Ltd at about 117B KRW (market capitalisation, as of Sep 24, 2026). Per share that is 9,880 KRW; our models calculate a fair value of 17,593 KRW per share.
What do the bullish and bearish scenarios say about 106190?
Our models span a range for High Tech Pharm Co. Ltd: cautious scenario 12,705 KRW, base 17,593 KRW, optimistic 22,106 KRW per share (as of Sep 24, 2026, price 9,880 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of High Tech Pharm Co. Ltd (106190)?
Balance-sheet figures for High Tech Pharm Co. Ltd (as of Sep 24, 2026): return on equity 7.2%. They feed the Quality Score of 57/100, which measures business quality independently of the share price.
How far is 106190 from its 52-week high?
High Tech Pharm Co. Ltd trades at 9,880 KRW, about 60% below its 52-week high of 25,000 KRW and 1% above the low of 9,820 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 17,593 KRW is for.
Which stocks are comparable to High Tech Pharm Co. Ltd?
From the same area (Healthcare) we also value Merck KGaA, Takeda Pharmaceutical Company, Jiangsu Hengrui Pharmaceuticals Co, Sun Pharmaceutical Industries Limited, 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 High Tech Pharm Co. Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price 9,880 KRW, calculated fair value 17,593 KRW (+78%), Quality Score 57/100, from 22 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 106190 calculated?
We run High Tech Pharm Co. Ltd through 22 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 17,593 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. High Tech Pharm Co. Ltd currently trades 78 % 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 High Tech Pharm Co. Ltd (106190)?
The closing price on Sep 23, 2026 was 9,880 KRW. Our model-based fair value is 17,593 KRW, about +78% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with High Tech Pharm Co. Ltd right now?
The price is below even our cautious bear case (12,705 KRW). The market is more pessimistic than our downside scenario. Solid quality (57/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of High Tech Pharm Co. Ltd
How large is the market capitalisation of High Tech Pharm Co. Ltd (106190)?
The market capitalisation of High Tech Pharm Co. Ltd is 117B KRW (≈ $86.2M). 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 High Tech Pharm Co. Ltd (106190)?
The price-to-sales ratio of High Tech Pharm Co. Ltd is 1.70 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the dividend yield of High Tech Pharm Co. Ltd (106190)?
The dividend yield of High Tech Pharm Co. Ltd is 1.5%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of High Tech Pharm Co. Ltd (106190)?
The net margin of High Tech Pharm Co. Ltd is 16.4% (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 High Tech Pharm Co. Ltd (106190)?
The return on equity (ROE) of High Tech Pharm Co. Ltd is 7.2% (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 High Tech Pharm Co. Ltd (106190)?
On an EBIT basis the return on assets of High Tech Pharm Co. Ltd is 6.2% (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 High Tech Pharm Co. Ltd (106190)?
The operating margin of High Tech Pharm Co. Ltd is −7.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at High Tech Pharm Co. Ltd (106190)?
Revenue at High Tech Pharm Co. Ltd is growing −7.4% versus a year earlier (3y avg −12.0%). 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 High Tech Pharm Co. Ltd (106190)?
Earnings per share at High Tech Pharm Co. Ltd are growing −14.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does High Tech Pharm Co. Ltd (106190) carry?
The net debt of High Tech Pharm Co. Ltd is 181M KRW (fiscal year 2024, ≈ 0.0 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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