Advanced Nano Products Co. Ltd (121600) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Advanced Nano Products Co. Ltd KRW 12,819, price KRW 51,900, upside -75.3%, quality 42 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
Structural break:
The valuation model sees a lasting decline in earnings power for this stock, the confidence band is broken. Treat the target with caution.
Weakest SetupStrongly overvalued and low quality.
!Fair value 12,819 KRW · Strongly overvalued (−75%)
!Quality 42/100
!Mixed Growth(revenue 5y +18.2 %/yr)
!Thin margins · 6.0% net margin (TTM)
✓Moderate debt · generates free cash flow
·0.48% dividend yield
!Mixed vs. peers(5/11)
!Narrow moat29/100
!Evidence only low, so the estimate is less certain
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Advanced Nano Products Co., Ltd. engages in the manufacturing materials used in thin-film solar cells, display panels, and semiconductor CMP processes in South Korea and internationally.
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Advanced Nano Products Co., Ltd. engages in the manufacturing materials used in thin-film solar cells, display panels, and semiconductor CMP processes in South Korea and internationally. It offers conductive material slurry batter materials; hollow silica; printing electronics, such as inkjet metal ink, silver paste, and silver nanowire; ceria slurry semiconductor materials; anti reflectance coating solution, anti-static coating solution, transparent conductive oxide, insulation coating solution functional coating material products; and sputtering target products. The company was founded in 2000 and is headquartered in Sejong, South Korea.
Stock analysis
Advanced Nano Products Co. Ltd (121600) currently trades at 51,900 KRW, while our model-based Fair Value estimate is 12,819 KRW, implying the stock looks roughly 304.9% overvalued today.
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Valuation
Bull case: the Asset-Based group reads highest at a median of 13,826 KRW per share, and 0 of the 20 models we run sit above the 51,900 KRW price.
Bear case: the Earnings-Based group reads lowest at 1,671 KRW, and 20 of the 20 models stay below the price. Evidence for this calculation is low.
Scenario range: 7,300 KRW (bear) to 19,016 KRW (bull), the price of 51,900 KRW sits above 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.
Advanced Nano Products Co. Ltd reported revenue of 112B KRW in FY2025 versus 61.1B KRW in FY2021, a compound +16.3%/yr. Reported net income was 1.6B KRW in FY2025, compounding −31.5%/yr from FY2021.
Key figures
Market cap 622B KRW (≈ $435M) · P/S ratio 5.79 · Dividend yield 0.5% · Net margin 1.5% · Return on equity 3.0% · Return on assets (EBIT) 3.4% · Operating margin 8.4% · Revenue (TTM) 122B KRW.
What moves the price
The share trades about 46% 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 −48% fair-value upside, at −75%, 121600 screens richer than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely (192.13 KRW to 22,520 KRW). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear 7,300 KRWFair Value 12,819 KRWBull 19,016 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.85/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+27.3%
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.
+11.8%
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.
+18.2%
Start year 2020 (pandemic). Over 10 years: +10.0% a year
Revenue growth 14 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.
+9.0%
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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. 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.
−23.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year−24.1%
Dividend (yield on the price)0.5%
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.−24% vs −13%, slowing
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.3% → 4%
Start year 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more 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).
+52.9%
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 +49.8% a year for the price.
Compare Advanced Nano Products 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.Specialty Chemicals · 707 stocks
Beats the industry median on 5/11 measures
A mixed picture versus its industry peers.
Valuation
Quality Score42 · Bottom 25%
Fair Value upside−75% · Bottom 25%
Profitability
Return on equity (TTM)3% · Below median
Return on assets1% · Below median
Net margin (TTM)6% · Above median
Operating margin (TTM)8% · Above median
Growth and dividend
Revenue growth47% · Top 25%
Dividend yield (TTM)0.5% · Bottom 25%
Balance sheet
Debt / equity0.62× · Highest 25%
Valuation Multiplesvs Specialty Chemicals median · lower = cheaper
P/FCF0.1× · Cheapest 25%
EV/EBITDA4.9× · Cheapest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)100· sector 22
PAST (return on equity)12· sector 23
HEALTH (low debt)69· sector 95
DIVIDEND (yield)10· sector 28
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is Advanced Nano Products Co. Ltd (121600) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 12,819 KRW versus a price of 51,900 KRW, about −75% upside (overvalued).
What is the fair value of 121600?
Our model-based fair value for Advanced Nano Products Co. Ltd is 12,819 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 51,900 KRW.
What is the quality score of 121600?
Advanced Nano Products 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 Advanced Nano Products Co. Ltd (121600)?
Our model-based price target is the fair value of 12,819 KRW (as of Sep 24, 2026) from 20 valuation models. Cautious scenario 7,300 KRW, optimistic scenario 19,016 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Advanced Nano Products Co. Ltd stock forecast for 2026?
Our models put fair value at 12,819 KRW, about −75% upside versus a price of 51,900 KRW (overvalued). Cautious scenario 7,300 KRW, optimistic scenario 19,016 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Advanced Nano Products Co. Ltd (121600)?
Advanced Nano Products Co. Ltd reported trailing-twelve-month revenue of about 122B KRW (latest available figure, as of Sep 24, 2026).
Does Advanced Nano Products Co. Ltd pay a dividend?
Advanced Nano Products Co. Ltd currently shows a dividend yield of about 0.48% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Advanced Nano Products Co. Ltd (121600)?
For today's price to be fair in a discounted-cash-flow model, Advanced Nano Products Co. Ltd would have to grow free cash flow by +52.9 % per year for five years (discount rate 10.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +18.2 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 121600 use?
Our models discount Advanced Nano Products Co. Ltd at 10.6 %: a base by market capitalisation (small), damped by beta 0.65, 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 Advanced Nano Products Co. Ltd that is +52.9 % per year a year over ten years, using the same discount rate (10.6 %) and the same formula as our fair value.
How much growth has Advanced Nano Products Co. Ltd (121600) delivered so far?
Over the past 5 years revenue at Advanced Nano Products Co. Ltd grew +18.2 % a year. The price currently implies +52.9 % 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 Advanced Nano Products Co. Ltd (121600) growing?
The median revenue growth in the sector is +3.4 % a year. That is the yardstick for the growth priced into Advanced Nano Products Co. Ltd (+52.9 % 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 Advanced Nano Products Co. Ltd (121600)?
The free-cash-flow yield on the price is 0.75 %: that much free cash flow Advanced Nano Products Co. Ltd produces per unit of market value. When it exceeds the discount rate of our models (10.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Advanced Nano Products Co. Ltd (121600)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Advanced Nano Products Co. Ltd it is 12,819 KRW per share (as of Sep 24, 2026), against a price of 51,900 KRW. It is the blended result of 20 valuation models (cash flow, earnings, asset, dividend).
Is Advanced Nano Products Co. Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 121600 trades above its calculated fair value: price 51,900 KRW, fair value 12,819 KRW, a gap of about −75% (overvalued). 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 121600?
No. The price is what the market pays today (51,900 KRW); the fair value is what the company's own numbers justify (12,819 KRW). For Advanced Nano Products Co. Ltd the two are 39,081 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Advanced Nano Products Co. Ltd worth?
The market values Advanced Nano Products Co. Ltd at about 622B KRW (market capitalisation, as of Sep 24, 2026). Per share that is 51,900 KRW; our models calculate a fair value of 12,819 KRW per share.
What do the bullish and bearish scenarios say about 121600?
Our models span a range for Advanced Nano Products Co. Ltd: cautious scenario 7,300 KRW, base 12,819 KRW, optimistic 19,016 KRW per share (as of Sep 24, 2026, price 51,900 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Advanced Nano Products Co. Ltd (121600)?
Balance-sheet figures for Advanced Nano Products Co. Ltd (as of Sep 24, 2026): return on equity 3.0%, debt of 0.62 per unit of equity. They feed the Quality Score of 42/100, which measures business quality independently of the share price.
How far is 121600 from its 52-week high?
Advanced Nano Products Co. Ltd trades at 51,900 KRW, about 46% below its 52-week high of 95,300 KRW and 17% above the low of 44,387 KRW (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 12,819 KRW is for.
Which stocks are comparable to Advanced Nano Products Co. Ltd?
From the same area (Basic Materials) we also value Linde plc, The Sherwin-Williams Company, Ecolab Inc, Air Products and Chemicals, Inc, 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 Advanced Nano Products Co. Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price 51,900 KRW, calculated fair value 12,819 KRW (−75%), Quality Score 42/100, from 20 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 121600 calculated?
We run Advanced Nano Products Co. Ltd through 20 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 12,819 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 14.1 % above its aggregate fair value. Advanced Nano Products Co. Ltd itself currently trades above fair value. 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 Advanced Nano Products Co. Ltd (121600)?
The closing price on Sep 23, 2026 was 51,900 KRW. Our model-based fair value is 12,819 KRW, about −75% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Advanced Nano Products Co. Ltd right now?
The price sits above even our optimistic bull case (19,016 KRW). The favourable scenario is already priced in. Weak quality (42/100) and above fair value at the same time, the margin of safety is missing on both counts. The model range is unusually wide (7,300 KRW to 19,016 KRW). The outcome hinges heavily on assumptions, so read the point estimate with caution. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
Key figures of Advanced Nano Products Co. Ltd
How large is the market capitalisation of Advanced Nano Products Co. Ltd (121600)?
The market capitalisation of Advanced Nano Products Co. Ltd is 622B KRW (≈ $435M). 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 Advanced Nano Products Co. Ltd (121600)?
The price-to-sales ratio of Advanced Nano Products Co. Ltd is 5.79 (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 Advanced Nano Products Co. Ltd (121600)?
The dividend yield of Advanced Nano Products Co. Ltd is 0.5%. 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 Advanced Nano Products Co. Ltd (121600)?
The net margin of Advanced Nano Products Co. Ltd is 1.5% (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 Advanced Nano Products Co. Ltd (121600)?
The return on equity (ROE) of Advanced Nano Products Co. Ltd is 3.0% (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 Advanced Nano Products Co. Ltd (121600)?
On an EBIT basis the return on assets of Advanced Nano Products Co. Ltd is 3.4% (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 Advanced Nano Products Co. Ltd (121600)?
The operating margin of Advanced Nano Products Co. Ltd is 8.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Advanced Nano Products Co. Ltd (121600)?
Revenue at Advanced Nano Products Co. Ltd is growing +46.5% versus a year earlier (3y avg +11.8%). 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 Advanced Nano Products Co. Ltd (121600)?
Earnings per share at Advanced Nano Products Co. Ltd are growing +757% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Advanced Nano Products Co. Ltd (121600) carry?
The net debt of Advanced Nano Products Co. Ltd is 107B KRW (fiscal year 2025, ≈ 23.1 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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