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Cosmax, Inc (192820) Fair Value & Analysis

Consumer Defensive · KR · Market cap 2.0T KRW

CI Cosmax, Inc 192820 · KO
Price205,500 KRW
Fair Value218,255 KRW
Upside+6.2%
Quality49/100
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Expensive Growth
Thin margins · 6.3% net margin
Low debt · negative free cash flow
1.86% dividend yield
Ranks above peers (6/9)
Moderate moat 55/100
Evidence: Medium Range 152,779 KRW – 284,729 KRW Share as image

Fair value as of: Jul 24, 2026

From 15 valuation models · updated 17 days ago

Share price +14.4% over the past month.

Below-average quality, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • A fairly wide model range (152,779 KRW to 284,729 KRW) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

277,460 KRW 40,756 KRW Fair Value 218,255 KRW Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 24, 2026.

How to read this chart

60‑month range 40,756 KRW – 277,460 KRW · fair‑value band 152,779 KRW – 284,729 KRW · the 205,500 KRW price screens below the 218,255 KRW fair value. Dashed = 300-day average. As of Jul 24, 2026.

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Analysis

Cosmax, Inc (192820) currently trades at 205,500 KRW, while our model-based Fair Value estimate is 218,255 KRW, implying the stock looks roughly 6.2% fairly valued today. The Quality Score stands at 49/100 (below-average quality), in the Consumer Defensive sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.

Over the trailing twelve months, Cosmax, Inc generated revenue of 2.5T KRW at a net margin of 6.3%. Revenue grew 15.9% year over year. It earns a return on equity of 28.9%. Net debt stands at 586B KRW. Fundamentals as of Jul 24, 2026

Our scenario range runs from 152,779 KRW (bear case) to 284,729 KRW (bull case); at 205,500 KRW, the current price sits within 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 27% below its 52-week high and 35% 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 6%, 192820 screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted 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.

Model BearBaseBull Evidence
Highest evidence
Residual Income 74,863 KRW 99,927 KRW 498,103 KRW 76
ROIC Compounder 154,206 KRW 210,147 KRW 283,056 KRW 72
Growth-Adj P/E 152,779 KRW 218,255 KRW 283,732 KRW 68
All 15 models by family
DCF Models
Owner Earnings 5,354 KRW 10,536 KRW 20,275 KRW 31
Earnings-Based
Graham-Dodd 73,758 KRW 370,141 KRW 510,906 KRW 54
Lynch FV 100,224 KRW 143,178 KRW 186,131 KRW 50
PEG = 1.0 100,224 KRW 143,178 KRW 186,131 KRW 46
EPV 133,634 KRW 157,254 KRW 178,249 KRW 59
Multiples
P/E Multiple 170,837 KRW 227,783 KRW 284,729 KRW 63
P/S Multiple 138,297 KRW 184,396 KRW 230,495 KRW 58
P/B Multiple 138,297 KRW 184,396 KRW 230,495 KRW 55
EV/EBIT 219,814 KRW 293,156 KRW 366,498 KRW 53
EV/EBITDA 231,765 KRW 309,091 KRW 386,417 KRW 54
EV/Revenue 156,826 KRW 224,128 KRW 291,430 KRW 43
Asset-Based
NCAV (Graham) 24,598 KRW 32,961 KRW 49,196 KRW 50
Economic Profit
Residual Income 74,863 KRW 99,927 KRW 498,103 KRW 76
ROIC Compounder 154,206 KRW 210,147 KRW 283,056 KRW 72
Growth Earnings
Growth-Adj P/E 152,779 KRW 218,255 KRW 283,732 KRW 68

Widest divergence: Multiples (224,128 KRW) versus DCF Models (10,536 KRW). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 2.5T KRW
Revenue growth (YoY) +15.9%
Net margin 6.3%
Return on equity 28.9%
Free cash flow −106B KRW FY2025
Operating margin 7.8%
More key figures
Dividend yield 1.9%
EPS growth (YoY) +411%
Net debt 586B KRW FY2025

Figures from reported company fundamentals · as of Jul 24, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 49/100

Of which business quality 45 · Market factors (momentum, volatility) 34

Profitability 55
Margins and returns on capital today
Quality Growth 43
Are margins and returns improving?
Cashflow 10
Earnings quality: real cash, not paper profit
Fin. Strength 38
Balance sheet, leverage, solvency risk
Investment 64
Disciplined investing over empire-building
Low Volatility 44
Calm price path (market factor)
Momentum 29
Price trend over the last 3–12 months (market factor)
52W Momentum 32
Distance to the 52-week high (market factor)
Net Issuance 82
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.

About the company

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.

Full company description

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. 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.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

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.

Growth Quality 58/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
2.4T KRW
Latest YoY
+10.7%
Avg. growth/yr (3Y)
+14.4%
Avg. growth/yr (5Y)
+11.6%
Avg. growth/yr (11Y)
+19.6%
Revenue +10.8%/yr
FY21 1.6T KRW
FY22 1.6T KRW
FY23 1.8T KRW
FY24 2.2T KRW
FY25 2.4T KRW
Net income +13.4%/yr
FY21 74.4B KRW
FY22 20.8B KRW
FY23 57.1B KRW
FY24 85.8B KRW
FY25 123B KRW

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Cite: Fair Value Calculator (2026). "Cosmax, Inc Fair Value". https://www.fairvalue-calculator.com/stock/192820

Peer Group

Household & Personal Products · 244 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 49 · Below median
Fair Value upside +6% · Above median
Return on equity (TTM) 29% · Top 25%
Return on assets 5% · Above median
Net margin (TTM) 6% · Above median
Operating margin (TTM) 8% · Above median
Revenue growth 16% · Top 25%
Dividend yield (TTM) 1.9% · Below median
Debt / equity 0.35× · Higher than 75% of peers

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.

VALUE 42 · sector 28
FUTURE 80 · sector 4
PAST 100 · sector 26
HEALTH 83 · sector 98
DIVIDEND 37 · sector 50

Insider activity: 45/100

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Household & Personal Products stocks, each showing price versus our Fair Value estimate (as of Jul 24, 2026).

Stock Price Fair Value vs Fair Value
The Procter & Gamble Company PG $146.80 $108.16 -26%
Unilever PLC ULN 1,080 MXN 1,273 MXN +18%
Hindustan Unilever Limited HINDUNILVR ₹2,144 ₹1,000 -53%
Essity AB ESSITYA kr 279.00 kr 250.02 -10%
Godrej Consumer Products Limited GODREJCP ₹1,088 ₹367.64 -66%
Marico Limited MARICO ₹846.75 ₹233.05 -72%
APR Co 278470 375,000 KRW 151,222 KRW -60%
Dabur India Limited DABUR ₹429.45 ₹181.60 -58%
Kimberly-Clark de México, S. A. B. de C. V., KIMBERA 38.07 MXN 50.09 MXN +32%
PT Unilever Indonesia Tbk UNVR 1,730 IDR 1,934 IDR +12%

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Frequently asked questions

Is Cosmax, Inc (192820) overvalued or undervalued?
As of Jul 24, 2026, our model estimates a fair value of 218,255 KRW versus a price of 205,500 KRW, about +6% (fairly valued).
What is the fair value of 192820?
Our model-based fair value for Cosmax, Inc is 218,255 KRW (as of Jul 24, 2026), built from audited fundamentals. The current price is 205,500 KRW.
What is the quality score of 192820?
Cosmax, Inc has a Quality Score of 49/100. 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 Cosmax, Inc (192820)?
Cosmax, Inc reported trailing-twelve-month revenue of about 2.5T KRW (latest available figure, as of Jul 24, 2026).
What is the net profit margin of 192820?
The net profit margin of Cosmax, Inc is about 6.3%, meaning it keeps roughly 6.3% of revenue as net income. Based on the latest reported figures.
Does Cosmax, Inc pay a dividend?
Cosmax, Inc currently shows a dividend yield of about 1.96% relative to its recent price (as of Jul 24, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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