Genoray Co (122310) Fair Value & Analysis
Healthcare · KR · Market cap 41.3B KRW
Fair value as of: Jul 20, 2026
From 21 valuation models · updated 21 days ago
Fair value updated Jul 20, 2026, revised from 1,060 KRW to 1,012 KRW (−4.6%) since Jul 7, 2026. Share price +5.0% over the past month.
A solid business, but screening 71% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (1,265 KRW). The favourable scenario is already priced in.
- Solid but not exceptional quality (61/100) and above fair value, neither a clear bargain nor a standout compounder.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 20, 2026.
How to read this chart
60‑month range 3,150 KRW – 10,076 KRW · fair‑value band 758.77 KRW – 1,265 KRW · the 3,490 KRW price screens above the 1,012 KRW fair value. Dashed = 300-day average. As of Jul 20, 2026.
Analysis
Genoray Co (122310) currently trades at 3,490 KRW, while our model-based Fair Value estimate is 1,012 KRW, implying the stock looks roughly 71.0% overvalued today. The Quality Score stands at 61/100 (solid quality), in the Healthcare sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, Genoray Co generated revenue of 108B KRW at a net margin of 0.2%. Revenue grew 0.9% year over year. It earns a return on equity of 0.1%. Net debt stands at 9.2B KRW. Fundamentals as of Jul 20, 2026
Our scenario range runs from 758.77 KRW (bear case) to 1,265 KRW (bull case); at 3,490 KRW, the current price sits above 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 42% below its 52-week high and 6% above its 52-week low, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -48% fair-value upside, at -71%, 122310 screens richer 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.
All 21 models by family
Widest divergence: DCF Models (6,256 KRW) versus Earnings-Based (655.82 KRW). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 20, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 63 · Market factors (momentum, volatility) 31
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
Genoray Co., Ltd. engages in the research, development, manufacture, and sale of medical and dental x-ray devices in South Korea. It provides C-ARM and mammography medical x-ray devices; and 2D, 3D, ENT, and IOS/IOX dental x-ray devices, as well as related maintenance and repair services.
Full company description
Genoray Co., Ltd. engages in the research, development, manufacture, and sale of medical and dental x-ray devices in South Korea. It provides C-ARM and mammography medical x-ray devices; and 2D, 3D, ENT, and IOS/IOX dental x-ray devices, as well as related maintenance and repair services. The company also exports its products to approximately 80 countries worldwide. Genoray Co., Ltd. was founded in 2001 and is headquartered in Seongnam-si, South Korea
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Genoray Co reported revenue of 108B KRW in FY2025 versus 74.3B KRW in FY2021, a compound +9.8%/yr. Reported net income was 758M KRW in FY2025, compounding −52.0%/yr from FY2021.
122310 screens 71% overvalued. Compare with Thermo Fisher Scientific Inc →
Peer Group
Diagnostics & Research · 135 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.
Valuation Multiples vs Diagnostics & Research median · lower = cheaper
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 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Diagnostics & Research stocks, each showing price versus our Fair Value estimate (as of Jul 20, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Thermo Fisher Scientific Inc TMO | $543.19 | $308.19 | -43% |
| Danaher Corporation DHR | $199.66 | $103.88 | -48% |
| WuXi AppTec Co 2359 | HK$160.70 | HK$125.20 | -22% |
| Lonza Group LONN | CHF 567.80 | CHF 259.80 | -54% |
| IDEXX Laboratories, Inc IDXX | $567.44 | $255.77 | -55% |
| Agilent Technologies, Inc A | $131.46 | $62.70 | -52% |
| Waters Corporation WAT | $368.98 | $121.96 | -67% |
| IQVIA Holdings IQV | $207.85 | $134.18 | -35% |
| Integrated Diagnostics Holdings IDHC | $0.0050 | $0.0053 | +5% |
| Illumina, Inc ILMN | $186.65 | $95.51 | -49% |
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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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