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Miwon Chemicals Co (134380) Fair Value & Analysis

Basic Materials · KR · Market cap 193B KRW

MC Miwon Chemicals Co 134380 · KO
Price10,400 KRW
Fair Value14,975 KRW
Upside+44.0%
Quality59/100
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Mixed Growth
Thin margins · 8.9% net margin
generates free cash flow
5.03% dividend yield
Ranks above peers (9/9)
Moderate moat 54/100
Evidence: High Range 8,661 KRW – 18,981 KRW Share as image

Fair value as of: Jul 22, 2026

From 26 valuation models · updated 19 days ago

Fair value updated Jul 22, 2026, revised from 21,382 KRW to 14,975 KRW (−30.0%) since Jun 25, 2026. Share price +2.9% over the past month.

A solid business, screening 44% undervalued on our models.

What matters now

  • Solid quality (59/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (8,661 KRW to 18,981 KRW) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

125,407 KRW 9,752 KRW Fair Value 14,975 KRW Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 22, 2026.

How to read this chart

60‑month range 9,752 KRW – 125,407 KRW · fair‑value band 8,661 KRW – 18,981 KRW · the 10,400 KRW price screens below the 14,975 KRW fair value. Dashed = 300-day average. As of Jul 22, 2026.

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Analysis

Miwon Chemicals Co (134380) currently trades at 10,400 KRW, while our model-based Fair Value estimate is 14,975 KRW, implying the stock looks roughly 44.0% undervalued today. The Quality Score stands at 59/100 (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: high), always confirm before acting.

Over the trailing twelve months, Miwon Chemicals Co generated revenue of 307B KRW at a net margin of 8.9%. Revenue grew 34.6% year over year. It earns a return on equity of 16.1%. Fundamentals as of Jul 22, 2026

Our scenario range runs from 8,661 KRW (bear case) to 18,981 KRW (bull case); at 10,400 KRW, the current price sits within 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 32% below its 52-week high and 39% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -46% fair-value upside, at 44%, 134380 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
Residual Income 8,784 KRW 11,249 KRW 28,516 KRW 76
Growth DCF 8,324 KRW 13,068 KRW 20,676 KRW 72
Gordon GGM 3,698 KRW 7,689 KRW 12,197 KRW 70
All 26 models by family
DCF Models
FCF DCF 8,273 KRW 13,162 KRW 21,056 KRW 38
Owner Earnings 19,228 KRW 31,349 KRW 50,924 KRW 31
5Y Revenue Exit 12,149 KRW 20,875 KRW 32,466 KRW 39
5Y EBITDA Exit 13,294 KRW 23,108 KRW 35,021 KRW 41
5Y P/E Exit 13,108 KRW 22,746 KRW 33,316 KRW 38
10Y Revenue Exit 10,279 KRW 18,018 KRW 29,285 KRW 36
10Y EBITDA Exit 11,459 KRW 19,604 KRW 31,313 KRW 37
10Y P/E Exit 11,339 KRW 19,347 KRW 29,959 KRW 35
Earnings-Based
Graham-Dodd 8,673 KRW 32,622 KRW 44,133 KRW 54
Lynch FV 7,883 KRW 11,262 KRW 14,640 KRW 50
PEG = 1.0 7,883 KRW 11,262 KRW 14,640 KRW 46
EPV 12,892 KRW 14,896 KRW 16,650 KRW 59
Dividend Discount
Gordon GGM 3,698 KRW 7,689 KRW 12,197 KRW 70
DDM Multi-Stage 3,698 KRW 6,483 KRW 8,070 KRW 61
Multiples
P/E Multiple 16,261 KRW 21,681 KRW 27,102 KRW 63
P/S Multiple 16,261 KRW 21,681 KRW 27,102 KRW 58
P/B Multiple 16,261 KRW 21,681 KRW 27,102 KRW 55
EV/EBIT 16,658 KRW 21,921 KRW 27,184 KRW 53
EV/EBITDA 17,439 KRW 22,963 KRW 28,486 KRW 54
EV/Revenue 14,553 KRW 20,418 KRW 26,282 KRW 43
Asset-Based
NCAV (Graham) 4,476 KRW 5,998 KRW 8,952 KRW 50
Growth DCF
Growth DCF 8,324 KRW 13,068 KRW 20,676 KRW 72
Rev-Margin DCF 12,149 KRW 20,652 KRW 30,912 KRW 67
Economic Profit
Residual Income 8,784 KRW 11,249 KRW 28,516 KRW 76
ROIC Compounder 13,984 KRW 18,173 KRW 23,612 KRW 67
Growth Earnings
Growth-Adj P/E 12,819 KRW 18,312 KRW 23,806 KRW 68

Widest divergence: Multiples (21,681 KRW) versus Asset-Based (5,998 KRW). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 307B KRW
Revenue growth (YoY) +34.6%
Net margin 8.9%
Return on equity 16.1%
Free cash flow 12.0B KRW FY2025
Operating margin 10.4%
More key figures
Dividend yield 5.0%
EPS growth (YoY) -10.9%

Figures from reported company fundamentals · as of Jul 22, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 59/100

Of which business quality 59 · Market factors (momentum, volatility) 19

Profitability 64
Margins and returns on capital today
Quality Growth 56
Are margins and returns improving?
Cashflow 32
Earnings quality: real cash, not paper profit
Fin. Strength 86
Balance sheet, leverage, solvency risk
Investment 66
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 10
Price trend over the last 3–12 months (market factor)
52W Momentum 1
Distance to the 52-week high (market factor)
Net Issuance 50
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 Chemicals Co., Ltd. develops, manufactures, and sells performance chemicals for use in the rubber, detergent, and personal care industries worldwide. Its products include sulfurs; sulfuric acids; sulphonic acid; alkyl sulfates; and rubber chemicals. Miwon Chemicals Co., Ltd. was founded in 1959 and is headquartered in Anyang-si, South Korea.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Miwon Chemicals Co reported revenue of 285B KRW in FY2025 versus 197B KRW in FY2021, a compound +9.6%/yr. Reported net income was 24.7B KRW in FY2025, compounding +21.5%/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)
285B KRW
Latest YoY
+11.1%
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.
+6.6%
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.
+12.2%
Avg. growth/yr (12Y) 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.
+5.8%
Revenue +9.6%/yr
FY21 197B KRW
FY22 235B KRW
FY23 233B KRW
FY24 256B KRW
FY25 285B KRW
Net income +21.5%/yr
FY21 11.4B KRW
FY22 16.3B KRW
FY23 21.8B KRW
FY24 26.9B KRW
FY25 24.7B KRW

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Cite: Fair Value Calculator (2026). "Miwon Chemicals Co Fair Value". https://www.fairvalue-calculator.com/stock/134380

Peer Group

Chemicals · 333 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 59 · Above median
Fair Value upside +44% · Top 25%
Return on equity (TTM) 16% · Top 25%
Return on assets 9% · Top 25%
Net margin (TTM) 9% · Above median
Operating margin (TTM) 10% · Above median
Revenue growth 35% · Top 25%
Dividend yield (TTM) 5.0% · Top 25%

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 92 · sector 0
FUTURE 100 · sector 20
PAST 64 · sector 19
HEALTH 0 · sector 94
DIVIDEND 100 · sector 27

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 Jul 22, 2026).

Stock Price Fair Value vs Fair Value
BASF SE BASN 1,034 MXN 532.13 MXN -49%
Ningxia Baofeng Energy Group 600989 ¥20.32 ¥20.17 -1%
Zhejiang Juhua Co 600160 ¥42.85 ¥23.35 -46%
PT Barito Pacific Tbk, BRPT 1,690 IDR 1,628 IDR -4%
LG Chem, Ltd 051910 260,500 KRW 587,755 KRW +126%
Formosa Chemicals & Fibre Corporation 1326 66.10 TWD 6.79 TWD -90%
PTT Global Chemical Public Company PTTGC 35.50 THB 18.21 THB -49%
542812 542812 ₹4,369 ₹791.05 -82%
Indorama Ventures Public Company IVL 24.50 THB 17.95 THB -27%
Navin Fluorine International Limited NAVINFLUOR ₹8,650 ₹2,146 -75%

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Frequently asked questions

Is Miwon Chemicals Co (134380) overvalued or undervalued?
As of Jul 22, 2026, our model estimates a fair value of 14,975 KRW versus a price of 10,400 KRW, about +44% (undervalued).
What is the fair value of 134380?
Our model-based fair value for Miwon Chemicals Co is 14,975 KRW (as of Jul 22, 2026), built from audited fundamentals. The current price is 10,400 KRW.
What is the quality score of 134380?
Miwon Chemicals Co has a Quality Score of 59/100. 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 Chemicals Co (134380)?
Miwon Chemicals Co reported trailing-twelve-month revenue of about 307B KRW (latest available figure, as of Jul 22, 2026).
What is the net profit margin of 134380?
The net profit margin of Miwon Chemicals Co is about 8.9%, meaning it keeps roughly 8.9% of revenue as net income. Based on the latest reported figures.
Does Miwon Chemicals Co pay a dividend?
Miwon Chemicals Co currently shows a dividend yield of about 5.00% relative to its recent price (as of Jul 22, 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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