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Miwon Holdings Co. Ltd (107590) Fair Value & Analysis

Basic Materials · KR · Market cap 124B KRW

MH Miwon Holdings Co. Ltd 107590 · KO
Price57,000 KRW
Fair Value167,511 KRW
Upside+193.9%
Quality54/100
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Healthy Growth
Thin margins · 5.9% net margin
Low debt · generates free cash flow
1.31% dividend yield
Ranks above peers (7/11)
Narrow moat 38/100
Evidence: Medium Range 117,257 KRW – 233,694 KRW Share as image

Fair value as of: Aug 13, 2026

From 24 valuation models · updated 6 days ago

Share price +6.3% over the past month.

A solid business, screening 194% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (117,257 KRW). The market is more pessimistic than our downside scenario.
  • Solid quality (54/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (117,257 KRW to 233,694 KRW) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

153,125 KRW 52,700 KRW Fair Value 167,511 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 52,700 KRW – 153,125 KRW · fair‑value band 117,257 KRW – 233,694 KRW · the 57,000 KRW price screens below the 167,511 KRW fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Miwon Holdings Co. Ltd (107590) currently trades at 57,000 KRW, while our model-based Fair Value estimate is 167,511 KRW, implying the stock looks roughly 193.9% undervalued today. The Quality Score stands at 54/100 (solid 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: medium), always confirm before acting.

Over the trailing twelve months, Miwon Holdings Co. Ltd generated revenue of 512B KRW at a net margin of 5.9%. Revenue grew 15.0% year over year. It earns a return on equity of 10.8%. Net debt stands at 68.7B KRW. Fundamentals as of Aug 13, 2026

Our scenario range runs from 117,257 KRW (bear case) to 233,694 KRW (bull case); at 57,000 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 27% below its 52-week high and 3% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -68% fair-value upside, at 194%, 107590 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 127,662 KRW 217,998 KRW 364,309 KRW 80
Residual Income 107,116 KRW 117,111 KRW 161,024 KRW 76
Rev-Margin DCF 87,434 KRW 144,898 KRW 215,636 KRW 74
All 24 models by family
DCF Models
FCF DCF 127,063 KRW 221,113 KRW 375,039 KRW 38
Owner Earnings 162,046 KRW 280,091 KRW 473,285 KRW 31
5Y Revenue Exit 87,434 KRW 144,733 KRW 218,928 KRW 39
5Y EBITDA Exit 93,296 KRW 156,282 KRW 231,442 KRW 41
5Y P/E Exit 122,745 KRW 214,302 KRW 314,636 KRW 38
10Y Revenue Exit 97,428 KRW 154,867 KRW 235,448 KRW 36
10Y EBITDA Exit 103,835 KRW 163,116 KRW 245,477 KRW 37
10Y P/E Exit 123,002 KRW 204,561 KRW 312,154 KRW 35
Earnings-Based
Graham-Dodd 76,857 KRW 301,037 KRW 408,564 KRW 54
Lynch FV 74,133 KRW 105,904 KRW 137,675 KRW 50
PEG = 1.0 74,133 KRW 105,904 KRW 137,675 KRW 46
EPV 65,253 KRW 77,806 KRW 88,790 KRW 59
Multiples
P/E Multiple 144,106 KRW 192,142 KRW 240,177 KRW 63
P/S Multiple 144,106 KRW 192,142 KRW 240,177 KRW 58
P/B Multiple 144,106 KRW 192,142 KRW 240,177 KRW 55
EV/EBIT 82,199 KRW 112,954 KRW 143,708 KRW 53
EV/EBITDA 85,310 KRW 117,101 KRW 148,892 KRW 54
EV/Revenue 69,898 KRW 104,167 KRW 138,436 KRW 43
Asset-Based
NCAV (Graham) 62,512 KRW 83,766 KRW 125,024 KRW 50
Growth DCF
Growth DCF 127,662 KRW 217,998 KRW 364,309 KRW 80
Rev-Margin DCF 87,434 KRW 144,898 KRW 215,636 KRW 74
Economic Profit
Residual Income 107,116 KRW 117,111 KRW 161,024 KRW 76
ROIC Compounder 65,253 KRW 77,806 KRW 88,790 KRW 72
Growth Earnings
Growth-Adj P/E 117,257 KRW 167,511 KRW 217,764 KRW 68

Widest divergence: Growth Earnings (167,511 KRW) versus Economic Profit (77,806 KRW). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 512B KRW
Revenue growth (YoY) +15.0%
Net margin 5.9%
Return on equity 10.8%
Free cash flow 26.2B KRW FY2025
Operating margin 6.3%
More key figures
Dividend yield 1.3%
EPS growth (YoY) +44.5%
Net debt 68.7B KRW FY2025

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

Quality Score breakdown

Overall quality 54/100

Of which business quality 53 · Market factors (momentum, volatility) 42

Profitability 40
Margins and returns on capital today
Quality Growth 31
Are margins and returns improving?
Cashflow 50
Earnings quality: real cash, not paper profit
Fin. Strength 52
Balance sheet, leverage, solvency risk
Investment 80
Disciplined investing over empire-building
Low Volatility 100
Calm price path (market factor)
Momentum 20
Price trend over the last 3–12 months (market factor)
52W Momentum 13
Distance to the 52-week high (market factor)
Net Issuance 82
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

Miwon Holdings Co., Ltd., an investment holding company, engages in rental and merchandise wholesale and retail, hardened resin, and surfactant businesses in South Korea and internationally.

Full company description

Miwon Holdings Co., Ltd., an investment holding company, engages in rental and merchandise wholesale and retail, hardened resin, and surfactant businesses in South Korea and internationally. The company provides chemical products for UV/EB curing, such as acrylate and methacrylate monomers, oligomers, benzoins, and epoxy diluents; photosensitizers, UV stabilizers, and antioxidants; sulfur derivatives and sulfonic acid; nonionic, anionic, and cationic surfactants; cobalt adhesion promoters under the Corebond brand; bead-type resins and peptides; and inkjet applications and printed electronics. The company was founded in 1959 and is headquartered in Yongin-si, South Korea.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Miwon Holdings Co. Ltd reported revenue of 493B KRW in FY2025 versus 421B KRW in FY2021, a compound +4.0%/yr. Reported net income was 26.2B KRW in FY2025, compounding −5.7%/yr from FY2021.

Growth Quality 79/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
493B KRW
Latest YoY
+3.4%
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.
−0.4%
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.
+11.3%
Avg. growth/yr (14Y) 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.
+6.6%
Revenue +4.0%/yr
FY21 421B KRW
FY22 499B KRW
FY23 443B KRW
FY24 477B KRW
FY25 493B KRW
Net income −5.7%/yr
FY21 33.1B KRW
FY22 20.2B KRW
FY23 13.2B KRW
FY24 25.3B KRW
FY25 26.2B KRW

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Cite: Fair Value Calculator (2026). "Miwon Holdings Co. Ltd Fair Value". https://www.fairvalue-calculator.com/stock/107590

Peer Group

Specialty Chemicals · 676 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 54 · Above median
Fair Value upside +194% · Top 25%
Return on equity (TTM) 11% · Above median
Return on assets 3% · Below median
Net margin (TTM) 6% · Above median
Operating margin (TTM) 6% · Below median
Revenue growth 15% · Above median
Dividend yield (TTM) 1.2% · Below median
Debt / equity 0.14× · Higher than median

Valuation Multiples vs Specialty Chemicals median · lower = cheaper

P/FCF 0.0× · Cheaper than 75% of peers
EV/EBITDA 0.7× · 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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE100 · sector 0
FUTURE75 · sector 19
PAST43 · sector 23
HEALTH93 · sector 95
DIVIDEND25 · sector 30

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 Specialty Chemicals stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

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Wanhua Chemical Group 600309 ¥75.06 ¥68.03 -9%
Asian Paints Limited ASIANPAINT ₹2,630 ₹696.23 -74%
Solar Industries India Limited SOLARINDS ₹18,730 ₹2,793 -85%
Pidilite Industries Limited PIDILITIND ₹1,702 ₹351.84 -79%
PT Chandra Asri Pacific Tbk TPIA 2,160 IDR 2,322 IDR +8%
Berger Paints India Limited BERGEPAINT ₹541.00 ₹156.35 -71%
FLUOROCHEM FLUOROCHEM ₹4,680 ₹724.88 -85%
Himadri Speciality Chemical Limited HSCL ₹778.15 ₹248.63 -68%
Enaex S.A ENAEX 25,050 CLP 23,574 CLP -6%

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Frequently asked questions

Is Miwon Holdings Co. Ltd (107590) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 167,511 KRW versus a price of 57,000 KRW, about +194% (undervalued).
What is the fair value of 107590?
Our model-based fair value for Miwon Holdings Co. Ltd is 167,511 KRW (as of Aug 13, 2026), built from audited fundamentals. The current price: 57,000 KRW.
What is the quality score of 107590?
Miwon Holdings Co. Ltd 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 revenue of Miwon Holdings Co. Ltd (107590)?
Miwon Holdings Co. Ltd reported trailing-twelve-month revenue of about 512B KRW (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 107590?
The net profit margin of Miwon Holdings Co. Ltd is about 5.9%, meaning it keeps roughly 5.9% of revenue as net income. Based on the latest reported figures.
Does Miwon Holdings Co. Ltd pay a dividend?
Miwon Holdings Co. Ltd currently shows a dividend yield of about 1.22% relative to its recent price (as of Aug 13, 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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