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Cosmax Nbt, Inc (222040) Fair Value & Analysis

Consumer Defensive · KR · Market cap 161B KRW

CN Cosmax Nbt, Inc 222040 · KQ
Price10,700 KRW
Fair Value4,772 KRW
Upside-55.4%
Quality43/100
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Weak Growth
Loss-making · -1.2% net margin
Low debt · generates free cash flow
Mixed vs. peers (4/9)
Narrow moat 28/100
Evidence: High Range 3,234 KRW – 7,379 KRW Share as image

Fair value as of: Jul 20, 2026

From 15 valuation models · updated 21 days ago

Share price +31.0% over the past month.

Below-average quality, and screening another 55% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (7,379 KRW). The favourable scenario is already priced in.
  • Weak quality (43/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • A fairly wide model range (3,234 KRW to 7,379 KRW) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

12,700 KRW 2,935 KRW Fair Value 4,772 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 2,935 KRW – 12,700 KRW · fair‑value band 3,234 KRW – 7,379 KRW · the 10,700 KRW price screens above the 4,772 KRW fair value. Dashed = 300-day average. As of Jul 20, 2026.

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Analysis

Cosmax Nbt, Inc (222040) currently trades at 10,700 KRW, while our model-based Fair Value estimate is 4,772 KRW, implying the stock looks roughly 55.4% overvalued today. The Quality Score stands at 43/100 (below-average quality), in the Consumer Defensive 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: high).

Over the trailing twelve months, Cosmax Nbt, Inc generated revenue of 309B KRW at a net margin of -1.2%. Revenue grew 29.2% year over year. It earns a return on equity of -6.0%. Net debt stands at 116B KRW. Fundamentals as of Jul 20, 2026

Our scenario range runs from 3,234 KRW (bear case) to 7,379 KRW (bull case); at 10,700 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 near its 52-week high and 274% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at -3% fair-value upside, at -55%, 222040 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 7,560 KRW 10,104 KRW 13,747 KRW 80
Rev-Margin DCF 5,196 KRW 6,432 KRW 7,877 KRW 74
ROIC Compounder 3,217 KRW 3,372 KRW 3,507 KRW 72
All 15 models by family
DCF Models
FCF DCF 7,469 KRW 10,340 KRW 14,716 KRW 38
5Y Revenue Exit 5,196 KRW 6,366 KRW 7,788 KRW 39
5Y EBITDA Exit 8,628 KRW 12,778 KRW 17,614 KRW 41
10Y Revenue Exit 5,918 KRW 7,178 KRW 8,756 KRW 36
10Y EBITDA Exit 8,159 KRW 11,628 KRW 16,249 KRW 37
Earnings-Based
EPV 3,217 KRW 3,372 KRW 3,507 KRW 59
Dividend Discount
Gordon GGM 1,023 KRW 2,127 KRW 3,374 KRW 70
DDM Multi-Stage 1,023 KRW 1,687 KRW 2,232 KRW 61
Multiples
EV/EBIT 4,773 KRW 5,601 KRW 6,428 KRW 53
EV/EBITDA 10,111 KRW 12,718 KRW 15,325 KRW 54
EV/Revenue 4,062 KRW 4,822 KRW 5,581 KRW 43
Asset-Based
NCAV (Graham) 1,076 KRW 1,442 KRW 2,152 KRW 50
Growth DCF
Growth DCF 7,560 KRW 10,104 KRW 13,747 KRW 80
Rev-Margin DCF 5,196 KRW 6,432 KRW 7,877 KRW 74
Economic Profit
ROIC Compounder 3,217 KRW 3,372 KRW 3,507 KRW 72

Widest divergence: DCF Models (10,340 KRW) versus Asset-Based (1,442 KRW). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 309B KRW
Revenue growth (YoY) +29.2%
Net margin -1.2%
Return on equity -6.0%
Free cash flow 9.4B KRW FY2025
Operating margin 11.0%
More key figures
Net debt 116B KRW FY2025

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

Quality Score breakdown

Overall quality 43/100

Of which business quality 39 · Market factors (momentum, volatility) 80

Profitability 20
Margins and returns on capital today
Quality Growth 31
Are margins and returns improving?
Cashflow 29
Earnings quality: real cash, not paper profit
Fin. Strength 14
Balance sheet, leverage, solvency risk
Investment 97
Disciplined investing over empire-building
Low Volatility 34
Calm price path (market factor)
Momentum 100
Price trend over the last 3–12 months (market factor)
52W Momentum 100
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 Nbt, Inc. operates as a health functional food company in South Korea and internationally. It also provides original design and original brand manufacturing services. In addition, the company offers cosmetics, medicines, and medical supplies. It offers its products in tablets, capsules, liquid, and powder supplement form of dosages.

Full company description

Cosmax Nbt, Inc. operates as a health functional food company in South Korea and internationally. It also provides original design and original brand manufacturing services. In addition, the company offers cosmetics, medicines, and medical supplies. It offers its products in tablets, capsules, liquid, and powder supplement form of dosages. The company serves its products through business to business, distribution companies, pharmaceutical and food companies, networks, and online channels. Cosmax Nbt, Inc. was founded in 2002 and is headquartered in Seongnam-si, South Korea.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Cosmax Nbt, Inc reported revenue of 287B KRW in FY2025 versus 289B KRW in FY2021, a compound −0.2%/yr. Reported net income was −15.0B KRW in FY2025.

Growth Quality 26/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
287B KRW
Latest YoY
−9.6%
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.
−4.3%
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.
+1.5%
Avg. growth/yr (11Y) 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.
+17.9%
Revenue −0.2%/yr
FY21 289B KRW
FY22 328B KRW
FY23 334B KRW
FY24 318B KRW
FY25 287B KRW
Net income
FY21 −6.4B KRW
FY22 −13.1B KRW
FY23 −6.5B KRW
FY24 −5.8B KRW
FY25 −15.0B KRW

222040 screens 55% overvalued. Compare with Nestlé India Limited →

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Cite: Fair Value Calculator (2026). "Cosmax Nbt, Inc Fair Value". https://www.fairvalue-calculator.com/stock/222040

Peer Group

Packaged Foods · 649 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 43 · Bottom 25%
Fair Value upside −55% · Bottom 25%
Return on assets 3% · Below median
Net margin (TTM) -1% · Bottom 25%
Operating margin (TTM) 11% · Above median
Revenue growth 29% · Top 25%
Debt / equity 0.03× · Lower than median

Valuation Multiples vs Packaged Foods median · lower = cheaper

P/FCF 0.0× · 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 28
FUTURE 100 · sector 20
PAST 0 · sector 27
HEALTH 99 · sector 96
DIVIDEND 0 · sector 47

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

Stock Price Fair Value vs Fair Value
Nestlé India Limited NESTLEIND ₹1,427 ₹362.37 -75%
Britannia Industries Limited BRITANNIA ₹5,413 ₹1,870 -65%
Tata Consumer Products Limited TATACONSUM ₹1,089 ₹327.27 -70%
PT Indofood CBP Sukses Makmur Tbk ICBP 6,650 IDR 15,757 IDR +137%
Samyang Foods Co 003230 1,139,000 KRW 1,010,543 KRW -11%
Patanjali Foods Limited PATANJALI ₹413.80 ₹157.04 -62%
Vietnam Dairy Products Joint Stock Company VNM 58,500 VND 68,259 VND +17%
PT Mayora Indah Tbk, MYOR 1,750 IDR 2,699 IDR +54%
PT Cisarua Mountain Dairy Tbk CMRY 4,490 IDR 4,355 IDR -3%
Nongshim Co 004370 348,500 KRW 530,619 KRW +52%

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Frequently asked questions

Is Cosmax Nbt, Inc (222040) overvalued or undervalued?
As of Jul 20, 2026, our model estimates a fair value of 4,772 KRW versus a price of 10,700 KRW, about −55% (overvalued).
What is the fair value of 222040?
Our model-based fair value for Cosmax Nbt, Inc is 4,772 KRW (as of Jul 20, 2026), built from audited fundamentals. The current price is 10,700 KRW.
What is the quality score of 222040?
Cosmax Nbt, Inc has a Quality Score of 43/100. 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 Nbt, Inc (222040)?
Cosmax Nbt, Inc reported trailing-twelve-month revenue of about 309B KRW (latest available figure, as of Jul 20, 2026).
What is the net profit margin of 222040?
The net profit margin of Cosmax Nbt, Inc is about -1.2%, 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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