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

As of Nov 6, 2026: fair value (intrinsic value) of EyeGene Inc stock KRW 722, price KRW 1,720, that is 58.0% below the price, quality 23 out of 100. Rating: strongly overvalued. Calculated from audited financials with one of our 26 valuation models and 37 quality factors, updated daily.

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Healthcare KR · ISIN KR7185490000

EI EyeGene Inc logo Thin data Nov 9, 2026

EyeGene Inc

185490 · KQ
Very expensive, weak quality

Our calculation puts a fair price 58% below what the stock costs today.

Low debt
Revenue last quarter +53% vs. a year ago.
Fair value 721.97 KRW · Strongly overvalued
Quality 23/100
Weak Growth (revenue 5y +1.2 %/yr in KRW)
Negative free cash flow
Trails peers (3/8)
Narrow moat 5/100 · thin data
Thin data
⚠ Dilution
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What runs behind every stock

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

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

Price vs Fair Value

43,050 KRW 1,193 KRW Fair Value 721.97 KRW Jun 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 9, 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 1,720 KRW price screens above the 721.97 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 9, 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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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 1,720 KRW, while our model-based Fair Value estimate is 721.97 KRW, 58% below the price, so the stock looks 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 data coverage at low.

Scenario range: 476.50 KRW (bear) to 902.46 KRW (bull), the price of 1,720 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 23/100 (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 73.6B KRW (≈ $54.4M) Micro · P/S ratio 16.4 · EPS (TTM) −406.09 KRW · Return on equity −43.5% · Return on assets (EBIT) −26.8% (5-year average) · Operating margin −295% · Revenue (TTM) 4.5B KRW · Revenue growth (YoY) +52.7%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 5 out of 100 (low confidence).

What moves the price

The share trades about 28% below its 52-week high and 44% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Healthcare peers we cover trades at 10% fair-value upside, at −58%, 185490 screens richer than that median.

Fair Value models

Bear 476.50 KRW Fair Value 721.97 KRW Bull 902.46 KRW
Price 1,720 KRW · Downside -58.0%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Coverage ⓘCoverage = 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.
Best data coverage
NCAV (Graham) 560.59 KRW 849.38 KRW 1,062 KRW 54
All 1 models by family
Asset-Based
NCAV (Graham) 560.59 KRW 849.38 KRW 1,062 KRW 54

The fair value above starts from this blend and is adjusted for dilution from new shares.

Open the full fair value analysis →

Quality Score breakdown

Overall quality 23/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 1
How much profit the company makes from its sales and capital
Quality Growth 22
Are margins and returns getting better?
Cashflow 0
Do the profits arrive as real cash?
Financial strength 62
Debt, balance sheet and risk of trouble
Investment 67
Does it invest with discipline instead of growing at any price?
Low Volatility 42
How calm the share price moves, does not count
Price momentum 54
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 33
Distance to the 52-week high, does not count
New shares 0
Buys back shares or issues new ones?

Open the full quality analysis →

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 overvalued: fair value 58% below the price. 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 · 558 stocks

Beats the industry median on 3/7 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 23 · Bottom 25%
Fair Value upside −58.0% · Below median
Profitability
Return on assets −23.1% · Below median
Growth and dividend
Revenue growth (quarter YoY) 52.7% · Top 25%
Balance sheet
Debt / equity 0.02× · Below median

Valuation Multiplesvs Biotechnology median · lower = cheaper

P/B 1.29× · Cheaper than median
P/S (12 months) 16.42× · Priciest 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 22

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 Compare
Incyte Corporation INCY $119.65 $199.23 +67% vs 185490
Regeneron Pharmaceuticals, Inc REGN $904.35 $1,275 +41% vs 185490
Vertex Pharmaceuticals Incorporated VRTX $547.09 $601.80 +10% vs 185490
Samsung Biologics Co 207940 1,516,000 KRW 1,667,600 KRW +10% vs 185490
Genmab A/S GMAB kr 3,527 kr 3,880 +10% vs 185490
WuXi Biologics (Cayman) Inc 2269 HK$47.62 HK$52.38 +10% vs 185490
argenx SE ARGX $927.21 $908.40 −2% vs 185490
CSL Limited CSL A$200.77 A$183.04 −9% vs 185490
Celltrion, Inc 068270 211,000 KRW 74,945 KRW −64% vs 185490
Royalty Pharma plc RPRX $67.30 $19.01 −72% vs 185490

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EyeGene Inc: fair value per Fair Value Calculator

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 Nov 9, 2026, our model estimates a fair value of 721.97 KRW versus a price of 1,720 KRW, about 58% lower (overvalued).
What is the fair value of 185490?
Our model-based fair value for EyeGene Inc is 721.97 KRW (as of Nov 9, 2026), built from audited fundamentals. The current price: 1,720 KRW.
What is the quality score of 185490?
EyeGene Inc has a Quality Score of 23/100. 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 Nov 9, 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 58% lower versus a price of 1,720 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 4.5B KRW (latest available figure, as of Nov 9, 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 Nov 9, 2026), against a price of 1,720 KRW. It is the blended result of 1 valuation models in 1 family (Asset-Based).
Is EyeGene Inc stock overvalued or undervalued in 2026?
As of Nov 9, 2026, 185490 trades above its calculated fair value: price 1,720 KRW, fair value 721.97 KRW, a gap of about −58% (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 (1,720 KRW); the fair value is what the company's own numbers justify (721.97 KRW). For EyeGene Inc the two are 998.03 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 73.6B KRW (market capitalisation, as of Nov 9, 2026). Per share that is 1,720 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 Nov 9, 2026, price 1,720 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 Nov 9, 2026): return on equity −43.5%, debt of 0.02 per unit of equity. They feed the Quality Score of 23/100, which measures business quality independently of the share price.
How far is 185490 from its 52-week high?
EyeGene Inc trades at 1,720 KRW, about 28% below its 52-week high of 2,375 KRW and 44% above the low of 1,193 KRW (as of Nov 6, 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, CSL Limited, argenx SE, 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 Nov 9, 2026: price 1,720 KRW, calculated fair value 721.97 KRW (−58%), Quality Score 23/100, 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 1 family: Asset-Based. Every model gets the same audited fundamentals; the fair value of 721.97 KRW builds on their evidence-weighted average, 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 13.3% 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 Nov 6, 2026 was 1,720 KRW. Our model-based fair value is 721.97 KRW, about 58% lower (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 (23/100) 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 73.6B KRW (≈ $54.4M). 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 16.4 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of EyeGene Inc (185490)?
Earnings per share at EyeGene Inc are −406.09 KRW. Earnings per share over the last twelve months: total profit spread across every single share.
What is the return on equity of EyeGene Inc (185490)?
The return on equity (ROE) of EyeGene Inc is −43.5% (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 −295% (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 +52.7% 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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