Raphas Co. Ltd (214260) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Raphas Co. Ltd KRW 6,059, price KRW 7,650, upside -20.8%, quality 49 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Raphas Co., Ltd. manufactures and sells biodegradable microneedles in Korea. The company offers skin care, medical device, whitening care, and wrinkle care under the Acropass brand; and health food product under the FitKong brand.
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Raphas Co., Ltd. manufactures and sells biodegradable microneedles in Korea. The company offers skin care, medical device, whitening care, and wrinkle care under the Acropass brand; and health food product under the FitKong brand. It also supplies double-layer microneedle manufacturing technology; and provides original development manufacturing, and contract development and manufacturing organization services. The company was incorporated in 2006 and is based in Seoul, South Korea.
Stock analysis
Raphas Co. Ltd (214260) currently trades at 7,650 KRW, while our model-based Fair Value estimate is 6,059 KRW, implying the stock looks roughly 26.3% overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 5,863 KRW per share, and 2 of the 10 models we run sit above the 7,650 KRW price.
Bear case: the Asset-Based group reads lowest at 2,258 KRW, and 8 of the 10 models stay below the price. Evidence for this calculation is low.
Scenario range: 4,836 KRW (bear) to 7,712 KRW (bull), the price of 7,650 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 49/100 (below-average quality), in the Healthcare sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Raphas Co. Ltd reported revenue of 31.0B KRW in FY2025 versus 20.3B KRW in FY2021, a compound +11.1%/yr. Reported net income was −4.3B KRW in FY2025.
Key figures
Market cap 72.6B KRW (≈ $50.9M) · P/S ratio 2.37 · Net margin −13.9% · Return on equity −12.8% · Return on assets (EBIT) −5.4% · Operating margin −7.7% · Revenue (TTM) 30.7B KRW · Revenue growth (YoY) −4.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (low confidence).
What moves the price
The share trades about 50% below its 52-week high and 14% 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 −21%, 214260 screens richer than that median.
Fair Value models
Bear 4,836 KRWFair Value 6,059 KRWBull 7,712 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.57/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+13.9%
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.
+9.4%
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)
Revenue growth 8 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.
+20.6%
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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.
−23.9% (2020) → −9.8% (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
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).
+50.5%
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 +47.4% 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 4/8 measures
A mixed picture versus its industry peers.
Valuation
Quality Score49 · Above median
Fair Value upside−21% · Above median
Profitability
Return on assets−2% · Above median
Net margin (TTM)−13% · Below median
Operating margin (TTM)−8% · Bottom 25%
Growth and dividend
Revenue growth−4% · Below median
Balance sheet
Debt / equity0.09× · Above median
Valuation Multiplesvs Biotechnology median · lower = cheaper
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Is Raphas Co. Ltd (214260) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 6,059 KRW versus a price of 7,650 KRW, about −21% upside (overvalued).
What is the fair value of 214260?
Our model-based fair value for Raphas Co. Ltd is 6,059 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 7,650 KRW.
What is the quality score of 214260?
Raphas Co. Ltd 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 price target for Raphas Co. Ltd (214260)?
Our model-based price target is the fair value of 6,059 KRW (as of Sep 24, 2026) from 10 valuation models. Cautious scenario 4,836 KRW, optimistic scenario 7,712 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Raphas Co. Ltd stock forecast for 2026?
Our models put fair value at 6,059 KRW, about −21% upside versus a price of 7,650 KRW (overvalued). Cautious scenario 4,836 KRW, optimistic scenario 7,712 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Raphas Co. Ltd (214260)?
Raphas Co. Ltd reported trailing-twelve-month revenue of about 30.7B KRW (latest available figure, as of Sep 24, 2026).
What growth is priced into Raphas Co. Ltd (214260)?
For today's price to be fair in a discounted-cash-flow model, Raphas Co. Ltd would have to grow free cash flow by +50.5 % 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 +11.7 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 214260 use?
Our models discount Raphas Co. Ltd at 11.6 %: a base by market capitalisation (micro), damped by beta 0.51, 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 Raphas Co. Ltd that is +50.5 % 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 Raphas Co. Ltd (214260) delivered so far?
Over the past 5 years revenue at Raphas Co. Ltd grew +11.7 % a year. The price currently implies +50.5 % 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 Raphas Co. Ltd (214260) growing?
The median revenue growth in the sector is +2.8 % a year. That is the yardstick for the growth priced into Raphas Co. Ltd (+50.5 % 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 Raphas Co. Ltd (214260)?
The free-cash-flow yield on the price is 1.04 %: that much free cash flow Raphas 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 Raphas Co. Ltd (214260)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Raphas Co. Ltd it is 6,059 KRW per share (as of Sep 24, 2026), against a price of 7,650 KRW. It is the blended result of 10 valuation models (cash flow, earnings, asset, dividend).
Is Raphas Co. Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 214260 trades above its calculated fair value: price 7,650 KRW, fair value 6,059 KRW, a gap of about −21% (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 214260?
No. The price is what the market pays today (7,650 KRW); the fair value is what the company's own numbers justify (6,059 KRW). For Raphas Co. Ltd the two are 1,591 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Raphas Co. Ltd worth?
The market values Raphas Co. Ltd at about 72.6B KRW (market capitalisation, as of Sep 24, 2026). Per share that is 7,650 KRW; our models calculate a fair value of 6,059 KRW per share.
What do the bullish and bearish scenarios say about 214260?
Our models span a range for Raphas Co. Ltd: cautious scenario 4,836 KRW, base 6,059 KRW, optimistic 7,712 KRW per share (as of Sep 24, 2026, price 7,650 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Raphas Co. Ltd (214260)?
Balance-sheet figures for Raphas Co. Ltd (as of Sep 24, 2026): return on equity −12.8%, debt of 0.09 per unit of equity. They feed the Quality Score of 49/100, which measures business quality independently of the share price.
How far is 214260 from its 52-week high?
Raphas Co. Ltd trades at 7,650 KRW, about 50% below its 52-week high of 15,350 KRW and 14% above the low of 6,720 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 6,059 KRW is for.
Which stocks are comparable to Raphas 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 Raphas Co. Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price 7,650 KRW, calculated fair value 6,059 KRW (−21%), Quality Score 49/100, from 10 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 214260 calculated?
We run Raphas Co. Ltd through 10 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 6,059 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 13.2 % above its aggregate fair value. Raphas 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 Raphas Co. Ltd (214260)?
The closing price on Sep 23, 2026 was 7,650 KRW. Our model-based fair value is 6,059 KRW, about −21% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Raphas Co. Ltd right now?
Solid but not exceptional quality (49/100) and above fair value, neither a clear bargain nor a standout compounder. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Key figures of Raphas Co. Ltd
How large is the market capitalisation of Raphas Co. Ltd (214260)?
The market capitalisation of Raphas Co. Ltd is 72.6B KRW (≈ $50.9M). 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 Raphas Co. Ltd (214260)?
The price-to-sales ratio of Raphas Co. Ltd is 2.37 (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 Raphas Co. Ltd (214260)?
The net margin of Raphas Co. Ltd is −13.9% (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 Raphas Co. Ltd (214260)?
The return on equity (ROE) of Raphas Co. Ltd is −12.8% (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 Raphas Co. Ltd (214260)?
On an EBIT basis the return on assets of Raphas Co. Ltd is −5.4% (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 Raphas Co. Ltd (214260)?
The operating margin of Raphas Co. Ltd is −7.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Raphas Co. Ltd (214260)?
Revenue at Raphas Co. Ltd is growing −4.2% versus a year earlier (3y avg +9.4%). 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 Raphas Co. Ltd (214260)?
Earnings per share at Raphas Co. Ltd are growing −19.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Raphas Co. Ltd (214260) carry?
The net debt of Raphas Co. Ltd is 18.1B KRW (fiscal year 2025, ≈ 27.1 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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