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Raphas Co (214260) Fair Value & Analysis

Healthcare · KR · Market cap 72.6B KRW

RC Raphas Co 214260 · KQ
Price9,100 KRW
Fair Value3,191 KRW
Upside-64.9%
Quality49/100
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Mixed Growth
Loss-making · -13.2% net margin
Low debt · generates free cash flow
Mixed vs. peers (4/9)
Narrow moat 11/100
Evidence: Medium Range 2,465 KRW – 4,342 KRW Share as image

Fair value as of: Jul 20, 2026

From 10 valuation models · updated 20 days ago

Fair value updated Jul 20, 2026, revised from 3,187 KRW to 3,191 KRW (+0.1%) since Jun 25, 2026. Share price +9.0% over the past month.

Below-average quality, and screening another 65% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (4,342 KRW). The favourable scenario is already priced in.
  • Solid but not exceptional quality (49/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

75,400 KRW 6,720 KRW Fair Value 3,191 KRW Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 20, 2026.

How to read this chart

60‑month range 6,720 KRW – 75,400 KRW · fair‑value band 2,465 KRW – 4,342 KRW · the 9,100 KRW price screens above the 3,191 KRW fair value. Dashed = 300-day average. As of Jul 20, 2026.

Full chart & analysis →

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Analysis

Raphas Co (214260) currently trades at 9,100 KRW, while our model-based Fair Value estimate is 3,191 KRW, implying the stock looks roughly 64.9% overvalued today. The Quality Score stands at 49/100 (below-average quality), in the Healthcare sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).

Over the trailing twelve months, Raphas Co generated revenue of 30.7B KRW at a net margin of -13.2%. Revenue declined 4.2% year over year. It earns a return on equity of -12.8%. Net debt stands at 18.1B KRW. Fundamentals as of Jul 20, 2026

Our scenario range runs from 2,465 KRW (bear case) to 4,342 KRW (bull case); at 9,100 KRW, the current price sits above 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 49% below its 52-week high and 46% above its 52-week low, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -43% fair-value upside, at -65%, 214260 screens richer 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 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
Highest evidence
Growth DCF 2,583 KRW 3,476 KRW 5,053 KRW 80
Rev-Margin DCF 2,357 KRW 2,987 KRW 3,838 KRW 74
EV/EBITDA 2,375 KRW 2,660 KRW 2,944 KRW 54
All 10 models by family
DCF Models
FCF DCF 2,603 KRW 3,613 KRW 5,471 KRW 38
5Y Revenue Exit 2,357 KRW 3,005 KRW 3,901 KRW 39
5Y EBITDA Exit 2,409 KRW 3,117 KRW 4,024 KRW 41
10Y Revenue Exit 2,403 KRW 3,061 KRW 4,109 KRW 36
10Y EBITDA Exit 2,464 KRW 3,145 KRW 4,216 KRW 37
Multiples
EV/EBITDA 2,375 KRW 2,660 KRW 2,944 KRW 54
EV/Revenue 2,243 KRW 2,552 KRW 2,862 KRW 43
Asset-Based
NCAV (Graham) 1,685 KRW 2,258 KRW 3,370 KRW 50
Growth DCF
Growth DCF 2,583 KRW 3,476 KRW 5,053 KRW 80
Rev-Margin DCF 2,357 KRW 2,987 KRW 3,838 KRW 74

Widest divergence: DCF Models (3,117 KRW) versus Asset-Based (2,258 KRW). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 30.7B KRW
Revenue growth (YoY) -4.2%
Net margin -13.2%
Return on equity -12.8%
Free cash flow 667M KRW FY2025
Operating margin -7.7%
More key figures
EPS growth (YoY) -19.2%
Net debt 18.1B KRW FY2025

Figures from reported company fundamentals · as of Jul 20, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 49/100

Of which business quality 46 · Market factors (momentum, volatility) 27

Profitability 11
Margins and returns on capital today
Quality Growth 64
Are margins and returns improving?
Cashflow 24
Earnings quality: real cash, not paper profit
Fin. Strength 40
Balance sheet, leverage, solvency risk
Investment 99
Disciplined investing over empire-building
Low Volatility 59
Calm price path (market factor)
Momentum 14
Price trend over the last 3–12 months (market factor)
52W Momentum 14
Distance to the 52-week high (market factor)
Net Issuance 83
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

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.

Full company description

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.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Raphas Co 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.

Growth Quality 57/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
31.0B KRW
Latest YoY
+13.9%
Avg. growth/yr (3Y) 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.
+9.4%
Avg. growth/yr (5Y) 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.
+11.6%
Avg. growth/yr (8Y) 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.
+20.6%
Revenue +11.1%/yr
FY21 20.3B KRW
FY22 23.6B KRW
FY23 27.9B KRW
FY24 27.2B KRW
FY25 31.0B KRW
Net income
FY21 4.9B KRW
FY22 −8.5B KRW
FY23 −8.8B KRW
FY24 −4.8B KRW
FY25 −4.3B KRW

214260 screens 65% overvalued. Compare with Vertex Pharmaceuticals Incorporated →

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Cite: Fair Value Calculator (2026). "Raphas Co Fair Value". https://www.fairvalue-calculator.com/stock/214260

Peer Group

Biotechnology · 601 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 · Above median
Fair Value upside −65% · Below median
Return on assets -2% · Above median
Net margin (TTM) -13% · Bottom 25%
Operating margin (TTM) -8% · Below median
Revenue growth -4% · Below median
Debt / equity 0.09× · Higher than median

Valuation Multiples vs Biotechnology median · lower = cheaper

P/FCF 0.1× · Cheaper 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 0 · sector 0
FUTURE 0 · sector 0
PAST 0 · sector 0
HEALTH 96 · sector 98
DIVIDEND 0 · sector 23

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

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 Biotechnology stocks, each showing price versus our Fair Value estimate (as of Jul 20, 2026).

Stock Price Fair Value vs Fair Value
Vertex Pharmaceuticals Incorporated VRTX $486.03 $278.78 -43%
Regeneron Pharmaceuticals, Inc REGN $664.45 $594.40 -11%
Samsung Biologics Co 207940 1,368,000 KRW 1,091,384 KRW -20%
Celltrion, Inc 068270 175,800 KRW 76,325 KRW -57%
WuXi Biologics (Cayman) Inc 2269 HK$39.54 HK$30.42 -23%
Innovent Biologics, Inc 1801 HK$86.70 HK$19.66 -77%
Sino Biopharmaceutical Limited 1177 HK$5.26 HK$3.36 -36%
ALTEOGEN Inc 196170 276,500 KRW 44,444 KRW -84%
RemeGen Co 688331 ¥134.02 ¥26.99 -80%
Biocon Limited BIOCON ₹440.70 ₹57.36 -87%

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Frequently asked questions

Is Raphas Co (214260) overvalued or undervalued?
As of Jul 20, 2026, our model estimates a fair value of 3,191 KRW versus a price of 9,100 KRW, about −65% (overvalued).
What is the fair value of 214260?
Our model-based fair value for Raphas Co is 3,191 KRW (as of Jul 20, 2026), built from audited fundamentals. The current price is 9,100 KRW.
What is the quality score of 214260?
Raphas Co 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 Raphas Co (214260)?
Raphas Co reported trailing-twelve-month revenue of about 30.7B KRW (latest available figure, as of Jul 20, 2026).
What is the net profit margin of 214260?
The net profit margin of Raphas Co is about -13.2%, meaning it is currently running at a net loss. Based on the latest reported figures.

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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