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Assems Inc. (136410) Fair Value & Analysis

Basic Materials · KR · Market cap 48.6B KRW (≈ $34.0M) · ISIN KR7136410008

What is Assems Inc. really worth?

AI Assems Inc. 136410 · KQ
Price4,080 KRW
Fair Value6,699 KRW
Upside+64.2%
Quality66/100

A solid business, trading 39% below our fair value of 6,699 KRW.

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Strengths

Healthy Growth (revenue 5y +12.1 %/yr)
Solidly profitable · 13.6% net margin
Low debt · generates free cash flow
Ranks above peers (9/10)

Risks

!Moderate moat 54/100
!Evidence only medium, so the estimate is less certain

For context

·3.19% dividend yield
Evidence: Medium Range 4,756 KRW – 9,681 KRW

Fair value as of: Aug 20, 2026

From 24 valuation models · updated 15 days ago

Fair value updated Aug 20, 2026, revised from 9,875 KRW to 6,699 KRW (−32.2%) since Aug 13, 2026. Share price −10.0% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price is below even our cautious bear case (4,756 KRW). The market is more pessimistic than our downside scenario.
  • Solid quality (66/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (4,756 KRW to 9,681 KRW) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

17,495 KRW 4,080 KRW Fair Value 6,699 KRW Feb 2022 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 20, 2026.

How to read this chart

55‑month range 4,080 KRW – 17,495 KRW · fair‑value band 4,756 KRW – 9,681 KRW · the 4,080 KRW price screens below the 6,699 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 20, 2026.

Full chart & analysis →

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Analysis

Assems Inc. (136410) currently trades at 4,080 KRW, while our model-based Fair Value estimate is 6,699 KRW, implying the stock looks roughly 39.1% undervalued today. The Quality Score stands at 66/100 (solid quality), in the Basic Materials sector. Bull case: the DCF Models group reads highest at a median of 11,024 KRW per share, and 24 of the 24 models we run sit above the 4,080 KRW price. Bear case: the Asset-Based group reads lowest at 4,579 KRW, and 0 of the 24 models stay below the price. Evidence for this calculation is medium.

Over the trailing twelve months, Assems Inc. generated revenue of 56.8B KRW at a net margin of 13.6%. Revenue declined 20.9% year over year. It earns a return on equity of 11.1%. Net debt stands at 16.6B KRW. Fundamentals as of Aug 20, 2026

Our scenario range runs from 4,756 KRW (bear case) to 9,681 KRW (bull case); at 4,080 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 67% below its 52-week high, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at −58% fair-value upside, at 64%, 136410 screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

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
FCF DCF best evidence 8,321 KRW 13,225 KRW 21,152 KRW 79
Growth DCF 8,371 KRW 13,126 KRW 20,758 KRW 77
Owner Earnings 11,946 KRW 19,250 KRW 31,056 KRW 75
All 24 models by family
DCF Models
FCF DCF best evidence 8,321 KRW 13,225 KRW 21,152 KRW 79
Owner Earnings 11,946 KRW 19,250 KRW 31,056 KRW 75
5Y Revenue Exit 6,510 KRW 9,837 KRW 14,139 KRW 72
5Y EBITDA Exit 7,109 KRW 11,006 KRW 15,650 KRW 75
5Y P/E Exit 8,708 KRW 14,128 KRW 20,031 KRW 70
10Y Revenue Exit 6,924 KRW 10,194 KRW 14,753 KRW 67
10Y EBITDA Exit 7,467 KRW 11,024 KRW 15,953 KRW 68
10Y P/E Exit 8,504 KRW 13,243 KRW 19,434 KRW 63
Earnings-Based
Graham-Dodd 5,726 KRW 21,606 KRW 29,236 KRW 64
Lynch FV 5,229 KRW 7,469 KRW 9,710 KRW 61
PEG = 1.0 5,229 KRW 7,469 KRW 9,710 KRW 57
EPV 10,372 KRW 11,949 KRW 13,328 KRW 74
Multiples
P/E Multiple 8,842 KRW 11,790 KRW 14,737 KRW 63
P/S Multiple 5,178 KRW 6,904 KRW 8,630 KRW 58
P/B Multiple 9,226 KRW 12,302 KRW 15,377 KRW 55
EV/EBIT 9,507 KRW 12,371 KRW 15,235 KRW 66
EV/EBITDA 7,091 KRW 9,150 KRW 11,209 KRW 67
EV/Revenue 5,748 KRW 7,819 KRW 9,890 KRW 54
Asset-Based
NCAV (Graham) 3,417 KRW 4,579 KRW 6,834 KRW 54
Growth DCF
Growth DCF 8,371 KRW 13,126 KRW 20,758 KRW 77
Rev-Margin DCF 6,510 KRW 9,843 KRW 13,898 KRW 72
Economic Profit
Residual Income 6,384 KRW 7,661 KRW 16,256 KRW 71
ROIC Compounder 11,289 KRW 14,585 KRW 18,821 KRW 72
Growth Earnings
Growth-Adj P/E 7,651 KRW 10,930 KRW 14,210 KRW 67

Widest divergence: DCF Models (11,024 KRW) versus Asset-Based (4,579 KRW). Highest evidence: FCF DCF (79).

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Key figures & financial health

P/S ratio 0.86 TTM
Dividend yield 3.2%
Net margin 14.6% FY2025
Return on equity 11.1% TTM
Return on assets (EBIT) 8.2% avg 5y
Operating margin 18.3% TTM
More key figures
Growth
Revenue (TTM) 56.8B KRW TTM
Revenue growth (YoY) −20.9% 3y avg +4.3%
EPS growth (YoY) −38.8%
Balance sheet & cash flow
Free cash flow 6.5B KRW FY2025
Net debt 16.6B KRW FY2025 · ≈ 2.6 yrs of FCF

Figures from reported company fundamentals · as of Aug 20, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 66/100

Of which business quality 63 · Market factors (momentum, volatility) 23

Profitability 47
Margins and returns on capital today
Quality Growth 58
Are margins and returns improving?
Cashflow 52
Earnings quality: real cash, not paper profit
Fin. Strength 69
Balance sheet, leverage, solvency risk
Investment 78
Disciplined investing over empire-building
Low Volatility 67
Calm price path (market factor)
Momentum 7
Price trend over the last 3–12 months (market factor)
52W Momentum 0
Distance to the 52-week high (market factor)
Net Issuance 87
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Assems Inc. develops and sells adhesives in South Korea. The company produces hot-melt films. It also engages in laminating and coating of fabrics; development and production of adhesive textile; and production of hot-melt laminating machine. In addition, the company provides U-WEB, an air-permeable lamination sheet. Assems Inc.

Full company description

Assems Inc. develops and sells adhesives in South Korea. The company produces hot-melt films. It also engages in laminating and coating of fabrics; development and production of adhesive textile; and production of hot-melt laminating machine. In addition, the company provides U-WEB, an air-permeable lamination sheet. Assems Inc. was founded in 2003 and is headquartered in Busan, South Korea.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Assems Inc. reported revenue of 60.3B KRW in FY2025 versus 42.0B KRW in FY2021, a compound +9.4%/yr. Reported net income was 8.8B KRW in FY2025, compounding +13.3%/yr from FY2021.

Growth Quality 80/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
60.3B KRW
Latest YoY
+5.4%
Avg. revenue 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.
+4.3%
Avg. revenue 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.
+12.1%
Avg. revenue growth/yr (7Y) 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%
Value creation/yr (5Y, in KRW) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year. 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.
+22.0% (18.8 + 3.2)
Revenue +9.4%/yr
FY21 42.0B KRW
FY22 53.1B KRW
FY23 47.7B KRW
FY24 57.2B KRW
FY25 60.3B KRW
Net income +13.3%/yr
FY21 5.4B KRW
FY22 7.1B KRW
FY23 3.1B KRW
FY24 6.0B KRW
FY25 8.8B KRW

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Cite: Fair Value Calculator (2026). "Assems Inc. Fair Value". https://www.fairvalue-calculator.com/stock/136410

Peer Group

Specialty Chemicals · 713 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 66 · Top 25%
Fair Value upside +64% · Top 25%
Return on equity (TTM) 11% · Above median
Return on assets 6% · Top 25%
Net margin (TTM) 14% · Top 25%
Operating margin (TTM) 18% · Top 25%
Revenue growth −21% · Bottom 25%
Dividend yield (TTM) 3.2% · Top 25%
Debt / equity 0.09× · Lower than median

Valuation Multiples vs Specialty Chemicals median · lower = cheaper

P/FCF 0.0× · Cheaper than 75% of peers

Strength profile in five axes (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
FUTURE0 · sector 20
PAST44 · sector 23
HEALTH96 · sector 95
DIVIDEND64 · sector 29

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

Similar stocks

10 more Specialty Chemicals stocks, each showing price versus our Fair Value estimate (as of Aug 20, 2026).

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Air Products and Chemicals, Inc APD $308.09 $122.14 −60%
Givaudan SA GIVN CHF 3,282 CHF 1,498 −54%
Wanhua Chemical Group 600309 ¥75.06 ¥68.03 −9%
500820 500820 ₹2,757 ₹557.43 −80%
Novozymes A/S NSISB kr 456.40 kr 169.99 −63%
Asian Paints Limited ASIANPAINT ₹2,630 ₹696.23 −74%
PPG Industries, Inc PPG $114.22 $71.31 −38%

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Frequently asked questions

Is Assems Inc. (136410) overvalued or undervalued?
As of Aug 20, 2026, our model estimates a fair value of 6,699 KRW versus a price of 4,080 KRW, about +64% upside (undervalued).
What is the fair value of 136410?
Our model-based fair value for Assems Inc. is 6,699 KRW (as of Aug 20, 2026), built from audited fundamentals. The current price: 4,080 KRW.
What is the quality score of 136410?
Assems Inc. has a Quality Score of 66/100. 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 Assems Inc. (136410)?
Assems Inc. reported trailing-twelve-month revenue of about 56.8B KRW (latest available figure, as of Aug 20, 2026).
What is the net profit margin of 136410?
The net profit margin of Assems Inc. is about 13.6%, meaning it keeps roughly 13.6% of revenue as net income. Based on the latest reported figures.
Does Assems Inc. pay a dividend?
Assems Inc. currently shows a dividend yield of about 3.19% relative to its recent price (as of Aug 20, 2026).
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