NIBEC Co. Ltd (138610) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of NIBEC Co. Ltd KRW 7,504, price KRW 15,280, upside -50.9%, quality 62 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range 11,970 KRW – 55,200 KRW · fair‑value band 5,555 KRW – 9,383 KRW · the 15,280 KRW price screens above the 7,504 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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NIBEC Co., Ltd., a healthcare company, engages in the manufacture and sale of dental bone grafts and tissue regenerative collagen products in South Korea and internationally. It offers dental ointment, peptide containing dental bone graft materials, regenerative biomaterials, tooth whitening, tooth desensitizer, herbal toothpaste, and cosmetic products.
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NIBEC Co., Ltd., a healthcare company, engages in the manufacture and sale of dental bone grafts and tissue regenerative collagen products in South Korea and internationally. It offers dental ointment, peptide containing dental bone graft materials, regenerative biomaterials, tooth whitening, tooth desensitizer, herbal toothpaste, and cosmetic products. The company was founded in 2000 and is based in Jincheon-eup, South Korea.
Stock analysis
NIBEC Co. Ltd (138610) currently trades at 15,280 KRW, while our model-based Fair Value estimate is 7,504 KRW, implying the stock looks roughly 103.6% overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 16,968 KRW per share, and 2 of the 24 models we run sit above the 15,280 KRW price.
Bear case: the Asset-Based group reads lowest at 2,701 KRW, and 22 of the 24 models stay below the price. Evidence for this calculation is medium.
Scenario range: 5,555 KRW (bear) to 9,383 KRW (bull), the price of 15,280 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 62/100 (solid quality), in the Healthcare sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
NIBEC Co. Ltd reported revenue of 32.7B KRW in FY2025 versus 13.6B KRW in FY2021, a compound +24.5%/yr. Reported net income was 4.6B KRW in FY2025.
Key figures
Market cap 173B KRW (≈ $127M) · P/S ratio 4.90 · Net margin 14.2% · Return on equity 18.8% · Return on assets (EBIT) −2.5% · Operating margin 2.6% · Revenue (TTM) 32.3B KRW · Revenue growth (YoY) −6.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 71% below its 52-week high and 25% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at −5% fair-value upside, at −51%, 138610 screens richer than that median.
Fair Value models
Bear 5,555 KRWFair Value 7,504 KRWBull 9,383 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.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+33.3%
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.
+14.7%
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.
+38.8%
Start year 2020 (pandemic). Over 10 years: +22.9% a year
Revenue growth 11 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.
+19.1%
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Profit margin (trend) ⓘ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.
−77.4% (2020) → 15.4% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: no profitable base year
not computed
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).
+71.8%
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 +68.3% a year for the price.
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.Biotechnology · 650 stocks
Beats the industry median on 7/9 measures
Overall it ranks above its industry peers.
Valuation
Quality Score62 · Top 25%
Fair Value upside−51% · Below median
Profitability
Return on equity (TTM)19% · Top 25%
Return on assets7% · Top 25%
Net margin (TTM)23% · Top 25%
Operating margin (TTM)3% · Above median
Growth and dividend
Revenue growth−7% · Below median
Balance sheet
Debt / equity0.02× · Below median
Valuation Multiplesvs Biotechnology median · lower = cheaper
P/FCF0.2× · Cheapest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)0· sector 0
PAST (return on equity)75· sector 0
HEALTH (low debt)99· sector 97
DIVIDEND (yield)0· sector 23
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 NIBEC Co. Ltd (138610) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 7,504 KRW versus a price of 15,280 KRW, about −51% upside (overvalued).
What is the fair value of 138610?
Our model-based fair value for NIBEC Co. Ltd is 7,504 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 15,280 KRW.
What is the quality score of 138610?
NIBEC Co. Ltd has a Quality Score of 62/100. 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 NIBEC Co. Ltd (138610)?
Our model-based price target is the fair value of 7,504 KRW (as of Sep 24, 2026) from 24 valuation models. Cautious scenario 5,555 KRW, optimistic scenario 9,383 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the NIBEC Co. Ltd stock forecast for 2026?
Our models put fair value at 7,504 KRW, about −51% upside versus a price of 15,280 KRW (overvalued). Cautious scenario 5,555 KRW, optimistic scenario 9,383 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of NIBEC Co. Ltd (138610)?
NIBEC Co. Ltd reported trailing-twelve-month revenue of about 32.3B KRW (latest available figure, as of Sep 24, 2026).
What growth is priced into NIBEC Co. Ltd (138610)?
For today's price to be fair in a discounted-cash-flow model, NIBEC Co. Ltd would have to grow free cash flow by +71.8 % per year for five years (discount rate 11.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +38.8 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 138610 use?
Our models discount NIBEC Co. Ltd at 11.6 %: a base by market capitalisation (micro), damped by beta 0.54, 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 NIBEC Co. Ltd that is +71.8 % per year a year over ten years, using the same discount rate (11.6 %) and the same formula as our fair value.
How much growth has NIBEC Co. Ltd (138610) delivered so far?
Over the past 5 years revenue at NIBEC Co. Ltd grew +38.8 % a year. The price currently implies +71.8 % 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 NIBEC Co. Ltd (138610) growing?
The median revenue growth in the sector is +4.2 % a year. That is the yardstick for the growth priced into NIBEC Co. Ltd (+71.8 % 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 NIBEC Co. Ltd (138610)?
The free-cash-flow yield on the price is 0.32 %: that much free cash flow NIBEC Co. Ltd produces per unit of market value. When it exceeds the discount rate of our models (11.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of NIBEC Co. Ltd (138610)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For NIBEC Co. Ltd it is 7,504 KRW per share (as of Sep 24, 2026), against a price of 15,280 KRW. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is NIBEC Co. Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 138610 trades above its calculated fair value: price 15,280 KRW, fair value 7,504 KRW, a gap of about −51% (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 138610?
No. The price is what the market pays today (15,280 KRW); the fair value is what the company's own numbers justify (7,504 KRW). For NIBEC Co. Ltd the two are 7,776 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is NIBEC Co. Ltd worth?
The market values NIBEC Co. Ltd at about 173B KRW (market capitalisation, as of Sep 24, 2026). Per share that is 15,280 KRW; our models calculate a fair value of 7,504 KRW per share.
What do the bullish and bearish scenarios say about 138610?
Our models span a range for NIBEC Co. Ltd: cautious scenario 5,555 KRW, base 7,504 KRW, optimistic 9,383 KRW per share (as of Sep 24, 2026, price 15,280 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of NIBEC Co. Ltd (138610)?
Balance-sheet figures for NIBEC Co. Ltd (as of Sep 24, 2026): return on equity 18.8%, debt of 0.02 per unit of equity. They feed the Quality Score of 62/100, which measures business quality independently of the share price.
How far is 138610 from its 52-week high?
NIBEC Co. Ltd trades at 15,280 KRW, about 71% below its 52-week high of 52,300 KRW and 25% above the low of 12,200 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 7,504 KRW is for.
Which stocks are comparable to NIBEC Co. Ltd?
From the same area (Healthcare) we also value Vertex Pharmaceuticals Incorporated, Regeneron Pharmaceuticals, Inc, argenx SE, Samsung Biologics Co, 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 NIBEC Co. Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price 15,280 KRW, calculated fair value 7,504 KRW (−51%), Quality Score 62/100, from 24 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 138610 calculated?
We run NIBEC Co. Ltd through 24 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 7,504 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 13.0 % above its aggregate fair value. NIBEC 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 NIBEC Co. Ltd (138610)?
The closing price on Sep 23, 2026 was 15,280 KRW. Our model-based fair value is 7,504 KRW, about −51% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with NIBEC Co. Ltd right now?
The price sits above even our optimistic bull case (9,383 KRW). The favourable scenario is already priced in. Solid but not exceptional quality (62/100) and above fair value, neither a clear bargain nor a standout compounder.
Key figures of NIBEC Co. Ltd
How large is the market capitalisation of NIBEC Co. Ltd (138610)?
The market capitalisation of NIBEC Co. Ltd is 173B KRW (≈ $127M). 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 NIBEC Co. Ltd (138610)?
The price-to-sales ratio of NIBEC Co. Ltd is 4.90 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the net margin of NIBEC Co. Ltd (138610)?
The net margin of NIBEC Co. Ltd is 14.2% (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 NIBEC Co. Ltd (138610)?
The return on equity (ROE) of NIBEC Co. Ltd is 18.8% (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 NIBEC Co. Ltd (138610)?
On an EBIT basis the return on assets of NIBEC Co. Ltd is −2.5% (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 NIBEC Co. Ltd (138610)?
The operating margin of NIBEC Co. Ltd is 2.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at NIBEC Co. Ltd (138610)?
Revenue at NIBEC Co. Ltd is growing −6.7% versus a year earlier (3y avg +14.7%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much net debt does NIBEC Co. Ltd (138610) carry?
The net debt of NIBEC Co. Ltd is 135M KRW (fiscal year 2023, ≈ 0.2 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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