KD Chem Co. Ltd (221980) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of KD Chem Co. Ltd KRW 19,987, price KRW 9,580, upside +108.6%, quality 66 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range 9,180 KRW – 18,288 KRW · the 9,580 KRW price screens below the 19,987 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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KD Chem Co., Ltd. manufactures and sells fine chemicals in South Korea.
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KD Chem Co., Ltd. manufactures and sells fine chemicals in South Korea. It provides general purpose stabilizers for suspension PVC applications; calendar foaming stabilizers for suspension PVC applications; kickers for emulsion PVC applications; stabilizers for emulsion PVC applications; Ca-Zn type stabilizers for wires/hoses; organotin type stabilizers; co-stabilizers; and lubricants and other additives. The company also exports its products to approximately 30 countries. The company was formerly known as Korea Daehyup Chemical Co., Ltd. and changed its name to KD Chem Co., Ltd. in July 2008. KD Chem Co., Ltd. was founded in 1986 and is headquartered in Boeun-Gun, South Korea.
Stock analysis
KD Chem Co. Ltd (221980) currently trades at 9,580 KRW, while our model-based Fair Value estimate is 19,987 KRW, implying the stock looks roughly 52.1% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of 35,942 KRW per share, and 22 of the 24 models we run sit above the 9,580 KRW price.
Bear case: the Dividend Discount group reads lowest at 6,045 KRW, and 2 of the 24 models stay below the price. Evidence for this calculation is medium.
Quality & growth
The Quality Score stands at 66/100 (solid quality), in the Basic Materials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
KD Chem Co. Ltd reported revenue of 62.9B KRW in FY2025 versus 54.1B KRW in FY2021, a compound +3.9%/yr. Reported net income was 3.5B KRW in FY2025, compounding −18.6%/yr from FY2021.
Key figures
Market cap 35.9B KRW (≈ $26.4M) · P/S ratio 0.56 · Dividend yield 5.2% · Net margin 5.6% · Return on equity 2.8% · Return on assets (EBIT) 5.4% · Operating margin 12.2% · Revenue (TTM) 64.1B KRW.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (medium confidence).
What moves the price
The share trades about 10% below its 52-week high and 4% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −40% fair-value upside, at 109%, 221980 screens cheaper than that median.
Fair Value models
Bear 19,987 KRWFair Value 19,987 KRWBull 19,987 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.71/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+0.8%
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.
+0.4%
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.
+5.8%
Start year 2020 (pandemic). Over 10 years: +3.2% 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.
+3.5%
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What shareholders gained per year (last 5 years), in KRW ⓘ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. 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.
−8.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year−13.3%
Dividend (yield on the price)5.2%
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.−13% vs −8%, slowing
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.11% → 11%
Start year 2020 (pandemic)
Growth Forecast
Little optimism in the price
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).
less than -40 %
Yearly growth needed for the next five years to justify today's 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.Specialty Chemicals · 712 stocks
Beats the industry median on 7/9 measures
Overall it ranks above its industry peers.
Valuation
Quality Score66 · Top 25%
Fair Value upside+109% · Top 25%
Profitability
Return on equity (TTM)3% · Below median
Return on assets3% · Above median
Net margin (TTM)4% · Below median
Operating margin (TTM)12% · Above median
Growth and dividend
Revenue growth8% · Above median
Dividend yield (TTM)5.2% · Top 25%
Valuation Multiplesvs Specialty Chemicals median · lower = cheaper
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Is KD Chem Co. Ltd (221980) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 19,987 KRW versus a price of 9,580 KRW, about +109% upside (undervalued).
What is the fair value of 221980?
Our model-based fair value for KD Chem Co. Ltd is 19,987 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 9,580 KRW.
What is the quality score of 221980?
KD Chem Co. Ltd has a Quality Score of 66/100. 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 KD Chem Co. Ltd (221980)?
Our model-based price target is the fair value of 19,987 KRW (as of Sep 24, 2026) from 24 valuation models. It is a calculation from audited fundamentals, not an analyst target.
What is the KD Chem Co. Ltd stock forecast for 2026?
Our models put fair value at 19,987 KRW, about +109% upside versus a price of 9,580 KRW (undervalued). The calculation is refreshed regularly with new filings.
What is the revenue of KD Chem Co. Ltd (221980)?
KD Chem Co. Ltd reported trailing-twelve-month revenue of about 64.1B KRW (latest available figure, as of Sep 24, 2026).
Does KD Chem Co. Ltd pay a dividend?
KD Chem Co. Ltd currently shows a dividend yield of about 5.22% relative to its recent price (as of Sep 24, 2026).
What growth is priced into KD Chem Co. Ltd (221980)?
For today's price to be fair in a discounted-cash-flow model, KD Chem Co. Ltd would have to grow free cash flow by less than minus 40 % per year for five years (discount rate 8.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +5.8 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 221980 use?
Our models discount KD Chem Co. Ltd at 8.9 %: a base by market capitalisation (nano), damped by beta 0.35, 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 KD Chem Co. Ltd that is less than minus 40 % per year a year over ten years, using the same discount rate (8.9 %) and the same formula as our fair value.
How much growth has KD Chem Co. Ltd (221980) delivered so far?
Over the past 5 years revenue at KD Chem Co. Ltd grew +5.8 % a year. The price currently implies less than minus 40 % 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 KD Chem Co. Ltd (221980) growing?
The median revenue growth in the sector is +3.3 % a year. That is the yardstick for the growth priced into KD Chem Co. Ltd (less than minus 40 % 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 KD Chem Co. Ltd (221980)?
The free-cash-flow yield on the price is 16.75 %: that much free cash flow KD Chem Co. Ltd produces per unit of market value. When it exceeds the discount rate of our models (8.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of KD Chem Co. Ltd (221980)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For KD Chem Co. Ltd it is 19,987 KRW per share (as of Sep 24, 2026), against a price of 9,580 KRW. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is KD Chem Co. Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 221980 trades below its calculated fair value: price 9,580 KRW, fair value 19,987 KRW, a gap of about +109% (undervalued). 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 221980?
No. The price is what the market pays today (9,580 KRW); the fair value is what the company's own numbers justify (19,987 KRW). For KD Chem Co. Ltd the two are 10,407 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is KD Chem Co. Ltd worth?
The market values KD Chem Co. Ltd at about 35.9B KRW (market capitalisation, as of Sep 24, 2026). Per share that is 9,580 KRW; our models calculate a fair value of 19,987 KRW per share.
How solid is the balance sheet of KD Chem Co. Ltd (221980)?
Balance-sheet figures for KD Chem Co. Ltd (as of Sep 24, 2026): return on equity 2.8%. They feed the Quality Score of 66/100, which measures business quality independently of the share price.
How far is 221980 from its 52-week high?
KD Chem Co. Ltd trades at 9,580 KRW, about 10% below its 52-week high of 10,630 KRW and 4% above the low of 9,180 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 19,987 KRW is for.
Which stocks are comparable to KD Chem Co. Ltd?
From the same area (Basic Materials) we also value Linde plc, The Sherwin-Williams Company, Ecolab Inc, Air Products and Chemicals, Inc, 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 KD Chem Co. Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price 9,580 KRW, calculated fair value 19,987 KRW (+109%), Quality Score 66/100, from 24 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 221980 calculated?
We run KD Chem Co. Ltd through 24 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 19,987 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 14.0 % above its aggregate fair value. KD Chem Co. Ltd currently trades 109 % below its own fair value, and the market average says nothing about that. 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 KD Chem Co. Ltd (221980)?
The closing price on Sep 23, 2026 was 9,580 KRW. Our model-based fair value is 19,987 KRW, about +109% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with KD Chem Co. Ltd right now?
The price is below even our cautious bear case (19,987 KRW). The market is more pessimistic than our downside scenario. Solid quality (66/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of KD Chem Co. Ltd
How large is the market capitalisation of KD Chem Co. Ltd (221980)?
The market capitalisation of KD Chem Co. Ltd is 35.9B KRW (≈ $26.4M). 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 KD Chem Co. Ltd (221980)?
The price-to-sales ratio of KD Chem Co. Ltd is 0.56 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the dividend yield of KD Chem Co. Ltd (221980)?
The dividend yield of KD Chem Co. Ltd is 5.2%. 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 KD Chem Co. Ltd (221980)?
The net margin of KD Chem Co. Ltd is 5.6% (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 KD Chem Co. Ltd (221980)?
The return on equity (ROE) of KD Chem Co. Ltd is 2.8% (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 KD Chem Co. Ltd (221980)?
On an EBIT basis the return on assets of KD Chem 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 KD Chem Co. Ltd (221980)?
The operating margin of KD Chem Co. Ltd is 12.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at KD Chem Co. Ltd (221980)?
Revenue at KD Chem Co. Ltd is growing +8.1% versus a year earlier (3y avg +0.4%). 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 KD Chem Co. Ltd (221980)?
Earnings per share at KD Chem Co. Ltd are growing −40.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does KD Chem Co. Ltd (221980) carry?
The net debt of KD Chem Co. Ltd is 2.5B KRW (fiscal year 2020, ≈ 0.4 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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