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EyeGene Inc (185490) fair value: what the stock is really worth

As of Sep 23, 2026: fair value of EyeGene Inc KRW 722, price KRW 1,950, upside -63.0%, quality 21 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
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Healthcare · KR · ISIN KR7185490000

EI Thin data Sep 24, 2026

EyeGene Inc

185490 · KQ

Weakest SetupStrongly overvalued and low quality.

!Fair value 721.97 KRW · Strongly overvalued (−63%)
!Quality 21/100
!Weak Growth (revenue 5y +1.2 %/yr)
!Loss-making · -185.8% net margin (TTM)
!Low debt · negative free cash flow
!Trails peers (3/8)
!Narrow moat 5/100
!Evidence only low, so the estimate is less certain
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26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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Price vs Fair Value

43,050 KRW 1,193 KRW Fair Value 721.97 KRW May 2021 Sep 2026

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 1,193 KRW – 43,050 KRW · fair‑value band 476.50 KRW – 902.46 KRW · the 1,950 KRW price screens above the 721.97 KRW fair value. Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

EyeGene Inc. engages in the research and development of biopharmaceutical drugs for the treatment and prevention of age-related diseases in South Korea.

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EyeGene Inc. engages in the research and development of biopharmaceutical drugs for the treatment and prevention of age-related diseases in South Korea. Its product pipeline comprises EG-Mirotin, which has completed Phase 2a clinical trial to treat diabetic retinopathy; EG-Decorin which completed Phase 2 clinical trial for the treatment of pressure ulcers and wound healing; and EG-Myocin, which has completed Phase II clinical trials for the treatment of myocardial ischemia/reperfusion injury. It also develops EG-HZ, which has completed phase 1 clinical trial for the treatment of herpes zoster; EG-HPV which completed Phase 1 clinical trial to treat cervical cancer; EG-COVID that is in phase I clinical trial for the treatment of covid; and EG-TB for the tuberculosis vaccine and is in preclinical trial. In addition, the company offers vitalDB for beautiful vitality. EyeGene Inc. was founded in 2000 and is headquartered in Seoul, South Korea.

Stock analysis

EyeGene Inc (185490) currently trades at 1,950 KRW, while our model-based Fair Value estimate is 721.97 KRW, implying the stock looks roughly 170.1% overvalued today.

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Valuation

How firm this estimate is: it rests on 1 models at a data quality of 88/100, which puts the evidence level at low.

Scenario range: 476.50 KRW (bear) to 902.46 KRW (bull), the price of 1,950 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 21/100 (below-average quality), in the Healthcare sector.

Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.

EyeGene Inc reported revenue of 3.6B KRW in FY2025 versus 3.2B KRW in FY2021, a compound +2.4%/yr. Reported net income was −15.7B KRW in FY2025.

Key figures

Market cap 65.9B KRW (≈ $46.1M) · P/S ratio 22.5 · Net margin −186% · Return on equity −25.3% · Return on assets (EBIT) −26.8% · Operating margin −278% · Revenue (TTM) 2.9B KRW · Revenue growth (YoY) +55.6%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 25 out of 100 (low confidence).

What moves the price

The share trades about 18% below its 52-week high and 63% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Healthcare peers we cover trades at −5% fair-value upside, at −63%, 185490 screens richer than that median.

Fair Value models

Bear 476.50 KRW Fair Value 721.97 KRW Bull 902.46 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.
Highest evidence
NCAV (Graham) 660.85 KRW 885.53 KRW 1,322 KRW 54
All 1 models by family
Asset-Based
NCAV (Graham) 660.85 KRW 885.53 KRW 1,322 KRW 54

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Quality Score breakdown

Overall quality 21/100

Of which business quality 24 · Market factors (momentum, volatility) 51

Profitability 1
Margins and returns on capital today
Quality Growth 28
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 62
Balance sheet, leverage, solvency risk
Investment 67
Disciplined investing over empire-building
Low Volatility 48
Calm price path (market factor)
Momentum 62
Price trend over the last 3–12 months (market factor)
52W Momentum 35
Distance to the 52-week high (market factor)
Net Issuance 0
Share count: buybacks or dilution?

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Revenue & earnings trend

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. 8/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+6.3%
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.
−12.3%
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.
+1.2%
Start year 2020 (pandemic). Over 10 years: +41.9% 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.
+33.1%
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.
−416.7% (2020) → −276.2% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

185490 screens 170% overvalued. Compare with Vertex Pharmaceuticals Incorporated →

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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 · 649 stocks

Beats the industry median on 3/7 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 24 · Bottom 25%
Fair Value upside −63% · Below median
Profitability
Return on assets −11% · Below median
Net margin (TTM) −186% · Bottom 25%
Growth and dividend
Revenue growth 56% · Top 25%
Balance sheet
Debt / equity 0.02× · Below median

Valuation Multiplesvs Biotechnology median · lower = cheaper

P/S (TTM) 0.02× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 0
FUTURE (revenue growth)100 · sector 0
PAST (return on equity)0 · sector 0
HEALTH (low debt)99 · sector 97
DIVIDEND (yield)0 · sector 23

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

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 Biotechnology stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Vertex Pharmaceuticals Incorporated VRTX $516.34 $567.97 +10%
Regeneron Pharmaceuticals, Inc REGN $801.82 $1,252 +56%
argenx SE ARGX $963.79 $918.60 −5%
Samsung Biologics Co 207940 1,366,000 KRW 1,502,600 KRW +10%
CSL Limited CSL A$179.12 A$197.03 +10%
Alnylam Pharmaceuticals, Inc ALNY $251.65 $218.36 −13%
Royalty Pharma plc RPRX $58.52 $24.22 −59%
BeOne Medicines AG 6160 HK$218.20 HK$169.72 −22%
Celltrion, Inc 068270 177,400 KRW 74,519 KRW −58%
BioNTech SE BNTX $100.87 $63.62 −37%

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EyeGene Inc · Fair Value
721.97 KRW −170%Fair Value
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Cite: Fair Value Calculator (2026). "EyeGene Inc Fair Value". https://www.fairvalue-calculator.com/stock/185490

Frequently asked questions

Is EyeGene Inc (185490) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 721.97 KRW versus a price of 1,950 KRW, about −63% upside (overvalued).
What is the fair value of 185490?
Our model-based fair value for EyeGene Inc is 721.97 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 1,950 KRW.
What is the quality score of 185490?
EyeGene Inc has a Quality Score of 21/100. 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 EyeGene Inc (185490)?
Our model-based price target is the fair value of 721.97 KRW (as of Sep 24, 2026) from 1 valuation models. Cautious scenario 476.50 KRW, optimistic scenario 902.46 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the EyeGene Inc stock forecast for 2026?
Our models put fair value at 721.97 KRW, about −63% upside versus a price of 1,950 KRW (overvalued). Cautious scenario 476.50 KRW, optimistic scenario 902.46 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of EyeGene Inc (185490)?
EyeGene Inc reported trailing-twelve-month revenue of about 2.9B KRW (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of EyeGene Inc (185490)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For EyeGene Inc it is 721.97 KRW per share (as of Sep 24, 2026), against a price of 1,950 KRW. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is EyeGene Inc stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 185490 trades above its calculated fair value: price 1,950 KRW, fair value 721.97 KRW, a gap of about −63% (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 185490?
No. The price is what the market pays today (1,950 KRW); the fair value is what the company's own numbers justify (721.97 KRW). For EyeGene Inc the two are 1,228 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is EyeGene Inc worth?
The market values EyeGene Inc at about 65.9B KRW (market capitalisation, as of Sep 24, 2026). Per share that is 1,950 KRW; our models calculate a fair value of 721.97 KRW per share.
What do the bullish and bearish scenarios say about 185490?
Our models span a range for EyeGene Inc: cautious scenario 476.50 KRW, base 721.97 KRW, optimistic 902.46 KRW per share (as of Sep 24, 2026, price 1,950 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of EyeGene Inc (185490)?
Balance-sheet figures for EyeGene Inc (as of Sep 24, 2026): return on equity −25.3%, debt of 0.02 per unit of equity. They feed the Quality Score of 21/100, which measures business quality independently of the share price.
How far is 185490 from its 52-week high?
EyeGene Inc trades at 1,950 KRW, about 18% below its 52-week high of 2,375 KRW and 63% above the low of 1,193 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 721.97 KRW is for.
Which stocks are comparable to EyeGene Inc?
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 EyeGene Inc stock attractive at the current price?
The data as of Sep 24, 2026: price 1,950 KRW, calculated fair value 721.97 KRW (−63%), Quality Score 21/100, from 1 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 185490 calculated?
We run EyeGene Inc through 1 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 721.97 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. EyeGene Inc 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 EyeGene Inc (185490)?
The closing price on Sep 23, 2026 was 1,950 KRW. Our model-based fair value is 721.97 KRW, about −63% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with EyeGene Inc right now?
The price sits above even our optimistic bull case (902.46 KRW). The favourable scenario is already priced in. Weak quality (21/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range (476.50 KRW to 902.46 KRW) leaves room in how you read the outcome.

Key figures of EyeGene Inc

How large is the market capitalisation of EyeGene Inc (185490)?
The market capitalisation of EyeGene Inc is 65.9B KRW (≈ $46.1M). 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 EyeGene Inc (185490)?
The price-to-sales ratio of EyeGene Inc is 22.5 (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 EyeGene Inc (185490)?
The net margin of EyeGene Inc is −186% (last twelve months). 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 EyeGene Inc (185490)?
The return on equity (ROE) of EyeGene Inc is −25.3% (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 EyeGene Inc (185490)?
On an EBIT basis the return on assets of EyeGene Inc is −26.8% (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 EyeGene Inc (185490)?
The operating margin of EyeGene Inc is −278% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at EyeGene Inc (185490)?
Revenue at EyeGene Inc is growing +55.6% versus a year earlier (3y avg −12.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does EyeGene Inc (185490) generate?
The free cash flow of EyeGene Inc is −7.2B KRW (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does EyeGene Inc (185490) carry?
The net debt of EyeGene Inc is 348M KRW (fiscal year 2024). 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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