Cosmax Inc (192820) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Cosmax Inc stock KRW 218,255, price KRW 254,500, that is 14.2% below the price, quality 51 out of 100. Rating: overvalued. Calculated from audited financials with 16 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 6, 2026.
How to read this chart
60‑month range 40,756 KRW – 308,500 KRW · fair‑value band 152,779 KRW – 283,732 KRW · the 254,500 KRW price screens above the 218,255 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 6, 2026.
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Cosmax, Inc. researches, develops, produces, and manufactures cosmetic and health function food products in Korea and internationally. The company operates through Cosmetic Business segment, Custom Cosmetic, and other Business segments.
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The company offers skincare products under the Capsule+, IS-LCE, CeraPresso, Emulixir, Foamology, IRPT, and Solar Clear brands; base-make up under the Air Cloud, and skin fabric names; and make up under the Xfine, JellTeX, ARTCOTTA, Bi-Coat, creamline, Thixolash, and CRYSTAL PRISM brands; oriental medicine under the Ginsenology name; and fragrance under the Scenteritage brand, as well as hair care products.
The company was formerly known as Miroto Korea and changed its name to Cosmax, Inc. in 1994. Cosmax, Inc. was founded in 1992 and is headquartered in Hwaseong-si, South Korea.
Stock analysis
Cosmax Inc (192820) currently trades at 254,500 KRW, while our model-based Fair Value estimate is 218,255 KRW, 14% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 218,255 KRW per share, and 2 of the 16 models we run sit above the 254,500 KRW price.
Bear case: the Asset-Based group reads lowest at 29,194 KRW, and 14 of the 16 models stay below the price. Data coverage for this calculation is medium.
Scenario range: 152,779 KRW (bear) to 283,732 KRW (bull), the price of 254,500 KRW sits inside 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 51/100 (solid quality), in the Consumer Defensive sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Cosmax Inc reported revenue of 2.4T KRW in FY2025 versus 1.6T KRW in FY2021, a compound +10.8%/yr. Reported net income was 123B KRW in FY2025, compounding +13.4%/yr from FY2021.
Key figures
Market cap 2.9T KRW (≈ $2.1B) Mid · P/E ratio 15.6 · P/S ratio 1.08 · EPS (TTM) 16,242 KRW · Dividend yield 1.3% · Net margin 6.9% · Return on equity 32.1% · Return on assets (EBIT) 7.6% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 57 out of 100 (low confidence).
What moves the price
The share trades about 18% below its 52-week high and 76% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Consumer Defensive peers we cover trades at −26% fair-value upside, at −14%, 192820 screens cheaper than that median.
Fair Value models
Bear152,779 KRWFair Value 218,255 KRWBull283,732 KRW
Price 254,500 KRW · Downside -14.2%
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. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (11,063 KRW per share) are deliberately not added.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.
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.58/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+10.7%
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.
+14.4%
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.
+11.6%
Start year 2020 (pandemic). Over 10 years: +16.2% 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.
+19.6%
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What shareholders gained per year (last 5 years), in KRW (mathematically smoothed) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. 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.
+40.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year+39.0%
Dividend (yield on the price)1.3%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.28.4% vs 11.0%, picking up
Profit margin 2020 to 2025 ⓘ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.5% → 8%
2025 sits 115% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
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.Household & Personal Products · 230 stocks
Beats the industry median on 7/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score51 · Below median
Fair Value upside−14.2% · Below median
Profitability
Return on equity (12 months)32.1% · Top 25%
Return on assets5.8% · Above median
Net margin (12 months)6.9% · Above median
Operating margin (12 months)9.2% · Above median
Growth and dividend
Revenue growth (quarter YoY)27.5% · Top 25%
Dividend yield (12 months)1.3% · Bottom 25%
Balance sheet
Debt / equity0.35× · Highest 25%
Valuation Multiplesvs Household & Personal Products median · lower = cheaper
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.
Cite: Fair Value Calculator (2026). "Cosmax Inc Fair Value". https://www.fairvalue-calculator.com/stock/192820
Frequently asked questions
Is Cosmax Inc (192820) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of 218,255 KRW versus a price of 254,500 KRW, about 14% lower (overvalued).
What is the fair value of 192820?
Our model-based fair value for Cosmax Inc is 218,255 KRW (as of Nov 6, 2026), built from audited fundamentals. The current price: 254,500 KRW.
What is the quality score of 192820?
Cosmax Inc has a Quality Score of 51/100. 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 Cosmax Inc (192820)?
Our model-based price target is the fair value of 218,255 KRW (as of Nov 6, 2026) from 16 valuation models. Cautious scenario 152,779 KRW, optimistic scenario 283,732 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Cosmax Inc stock forecast for 2026?
Our models put fair value at 218,255 KRW, about 14% lower versus a price of 254,500 KRW (overvalued). Cautious scenario 152,779 KRW, optimistic scenario 283,732 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Cosmax Inc (192820)?
Cosmax Inc reported trailing-twelve-month revenue of about 2.7T KRW (latest available figure, as of Nov 6, 2026).
Does Cosmax Inc pay a dividend?
Cosmax Inc currently shows a dividend yield of 1.30% relative to its recent price (as of Nov 6, 2026).
How much is the dividend of Cosmax Inc (192820) and when is the ex-dividend date?
Cosmax Inc pays a dividend of 3,300 KRW per share a year, a dividend yield of 1.3%. The last ex-dividend date was Mar 30, 2026. The payout ratio is 20.3% of earnings. Our assessment: Watch coverage. The dividend isn’t fully covered by free cash flow or earnings, part of it is funded from reserves or debt. Fine for now, but worth watching: if it stays uncovered, the dividend could be cut.
What is the intrinsic value of Cosmax Inc (192820)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Cosmax Inc it is 218,255 KRW per share (as of Nov 6, 2026), against a price of 254,500 KRW. It is the blended result of 16 valuation models in 6 families (Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is Cosmax Inc stock overvalued or undervalued in 2026?
As of Nov 6, 2026, 192820 trades above its calculated fair value: price 254,500 KRW, fair value 218,255 KRW, a gap of about −14% (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 192820?
No. The price is what the market pays today (254,500 KRW); the fair value is what the company's own numbers justify (218,255 KRW). For Cosmax Inc the two are 36,245 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Cosmax Inc worth?
The market values Cosmax Inc at about 2.9T KRW (market capitalisation, as of Nov 6, 2026). Per share that is 254,500 KRW; our models calculate a fair value of 218,255 KRW per share.
What do the bullish and bearish scenarios say about 192820?
Our models span a range for Cosmax Inc: cautious scenario 152,779 KRW, base 218,255 KRW, optimistic 283,732 KRW per share (as of Nov 6, 2026, price 254,500 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 192820?
Cosmax Inc trades at a price-to-earnings ratio of 15.6 (as of Nov 6, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 218,255 KRW is built from several models across several years. Median P/E at fiscal year-end, 5 fiscal years (2021 to 2025), reported earnings: 19.7. Other multiples: P/B 5.2, P/S 1.1, EV/EBITDA 10.0.
How solid is the balance sheet of Cosmax Inc (192820)?
Balance-sheet figures for Cosmax Inc (as of Nov 6, 2026): return on equity 32.1%, debt of 0.35 per unit of equity. They feed the Quality Score of 51/100, which measures business quality independently of the share price.
How far is 192820 from its 52-week high?
Cosmax Inc trades at 254,500 KRW, about 18% below its 52-week high of 308,500 KRW and 76% above the low of 144,900 KRW (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 218,255 KRW is for.
Which stocks are comparable to Cosmax Inc?
From the same area (Consumer Defensive) we also value Colgate-Palmolive Company, Hindustan Unilever Limited, The Estée Lauder Companies Inc, Henkel AG, 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 Cosmax Inc stock attractive at the current price?
The data as of Nov 6, 2026: price 254,500 KRW, calculated fair value 218,255 KRW (−14%), Quality Score 51/100, from 16 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 192820 calculated?
We run Cosmax Inc through 16 models from 6 families: Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 218,255 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 13.0% above its aggregate fair value. Cosmax 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 Cosmax Inc (192820)?
The closing price on Nov 6, 2026 was 254,500 KRW. Our model-based fair value is 218,255 KRW, about 14% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Cosmax Inc right now?
Solid but not exceptional quality (51/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (152,779 KRW to 283,732 KRW) leaves room in how you read the outcome.
Key figures of Cosmax Inc
How large is the market capitalisation of Cosmax Inc (192820)?
The market capitalisation of Cosmax Inc is 2.9T KRW (≈ $2.1B). 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 Cosmax Inc (192820)?
The price-to-sales ratio of Cosmax Inc is 1.08 (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 Cosmax Inc (192820)?
Earnings per share at Cosmax Inc are 16,242 KRW (price ÷ EPS = P/E 15.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Cosmax Inc (192820)?
The dividend yield of Cosmax Inc is 1.3% (payout 20.3%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Cosmax Inc (192820)?
The net margin of Cosmax Inc is 6.9% (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 Cosmax Inc (192820)?
The return on equity (ROE) of Cosmax Inc is 32.1% (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 Cosmax Inc (192820)?
On an EBIT basis the return on assets of Cosmax Inc is 7.6% (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 Cosmax Inc (192820)?
The operating margin of Cosmax Inc is 9.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Cosmax Inc (192820)?
Revenue at Cosmax Inc is growing +27.5% versus a year earlier (3y avg +14.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Cosmax Inc (192820)?
Earnings per share at Cosmax Inc are growing +133% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Cosmax Inc (192820) generate?
The free cash flow of Cosmax Inc is −106B 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 Cosmax Inc (192820) carry?
The net debt of Cosmax Inc is 586B KRW (fiscal year 2025). 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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Nov 6, 2026