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PanGen Biotech Inc (222110) Fair Value & Analysis

Healthcare · KR · Market cap 61.6B KRW

PB PanGen Biotech Inc 222110 · KQ
Price5,020 KRW
Fair Value1,395 KRW
Upside-72.2%
Quality33/100
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Expensive Growth
Solidly profitable · 15.1% net margin
Low debt · negative free cash flow
Ranks above peers (6/8)
Moderate moat 46/100
Evidence: High Range 1,235 KRW – 1,534 KRW Share as image

Fair value as of: Jul 20, 2026

From 15 valuation models · updated 21 days ago

Share price +7.3% over the past month.

Below-average quality, and screening another 72% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (1,534 KRW). The favourable scenario is already priced in.
  • Weak quality (33/100) and above fair value at the same time, the margin of safety is missing on both counts.
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Price vs Fair Value (5 years)

11,600 KRW 3,840 KRW Fair Value 1,395 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 3,840 KRW – 11,600 KRW · fair‑value band 1,235 KRW – 1,534 KRW · the 5,020 KRW price screens above the 1,395 KRW fair value. Dashed = 300-day average. As of Jul 20, 2026.

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Analysis

PanGen Biotech Inc (222110) currently trades at 5,020 KRW, while our model-based Fair Value estimate is 1,395 KRW, implying the stock looks roughly 72.2% overvalued today. The Quality Score stands at 33/100 (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: high).

Over the trailing twelve months, PanGen Biotech Inc generated revenue of 13.7B KRW at a net margin of 15.1%. Revenue grew 8.4% year over year. It earns a return on equity of 7.3%. Net debt stands at 2.0B KRW. Fundamentals as of Jul 20, 2026

Our scenario range runs from 1,235 KRW (bear case) to 1,534 KRW (bull case); at 5,020 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 41% below its 52-week high and 15% 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 -72%, 222110 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
ROIC Compounder 1,235 KRW 1,395 KRW 1,534 KRW 72
Growth-Adj P/E 2,628 KRW 3,755 KRW 4,881 KRW 68
P/E Multiple 1,596 KRW 2,127 KRW 2,659 KRW 63
All 15 models by family
DCF Models
Owner Earnings 3,511 KRW 7,634 KRW 16,290 KRW 31
Earnings-Based
Graham-Dodd 1,033 KRW 7,206 KRW 10,113 KRW 54
Lynch FV 2,279 KRW 3,255 KRW 4,232 KRW 50
PEG = 1.0 2,279 KRW 3,255 KRW 4,232 KRW 46
EPV 1,235 KRW 1,395 KRW 1,534 KRW 59
Multiples
P/E Multiple 1,596 KRW 2,127 KRW 2,659 KRW 63
P/S Multiple 894.83 KRW 1,193 KRW 1,491 KRW 58
P/B Multiple 1,938 KRW 2,583 KRW 3,229 KRW 55
EV/EBIT 1,115 KRW 1,395 KRW 1,674 KRW 53
EV/EBITDA 1,269 KRW 1,600 KRW 1,930 KRW 54
EV/Revenue 1,114 KRW 1,471 KRW 1,829 KRW 43
Asset-Based
NCAV (Graham) 1,109 KRW 1,486 KRW 2,218 KRW 50
Economic Profit
Residual Income 1,790 KRW 1,878 KRW 1,995 KRW 61
ROIC Compounder 1,235 KRW 1,395 KRW 1,534 KRW 72
Growth Earnings
Growth-Adj P/E 2,628 KRW 3,755 KRW 4,881 KRW 68

Widest divergence: DCF Models (7,634 KRW) versus Economic Profit (1,395 KRW). Highest evidence: ROIC Compounder (72).

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Key figures & financial health

Revenue (TTM) 13.7B KRW
Revenue growth (YoY) +8.4%
Net margin 15.1%
Return on equity 7.3%
Free cash flow −548M KRW FY2025
Operating margin 12.9%
More key figures
EPS growth (YoY) -2.4%
Net debt 2.0B KRW FY2023

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

Quality Score breakdown

Overall quality 33/100

Of which business quality 35 · Market factors (momentum, volatility) 31

Profitability 39
Margins and returns on capital today
Quality Growth 33
Are margins and returns improving?
Cashflow 5
Earnings quality: real cash, not paper profit
Fin. Strength 76
Balance sheet, leverage, solvency risk
Investment 33
Disciplined investing over empire-building
Low Volatility 58
Calm price path (market factor)
Momentum 22
Price trend over the last 3–12 months (market factor)
52W Momentum 16
Distance to the 52-week high (market factor)
Net Issuance 17
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

PanGen Biotech Inc. operates as a biologics company in South Korea. It develops biosimilar products, such as EPO, recombinant factor VIII, G-CSF, etc. The company also provides CHO cell lines for proteins and monoclonal antibodies; and one-stop services ranging from producer cell line development to GMP production.

Full company description

PanGen Biotech Inc. operates as a biologics company in South Korea. It develops biosimilar products, such as EPO, recombinant factor VIII, G-CSF, etc. The company also provides CHO cell lines for proteins and monoclonal antibodies; and one-stop services ranging from producer cell line development to GMP production. In addition, it offers reagents, quantitation kits, and cell based assay systems, as well as technology transfer service. PanGen Biotech Inc. was founded in 1999 and is based in Suwon-si, South Korea.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

PanGen Biotech Inc reported revenue of 13.4B KRW in FY2025 versus 7.9B KRW in FY2021, a compound +14.0%/yr. Reported net income was 2.1B KRW in FY2025.

Growth Quality 57/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
13.4B KRW
Latest YoY
−8.6%
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.
+27.3%
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.
+16.7%
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.
+13.3%
Revenue +14.0%/yr
FY21 7.9B KRW
FY22 6.5B KRW
FY23 7.3B KRW
FY24 14.7B KRW
FY25 13.4B KRW
Net income
FY21 −3.3B KRW
FY22 −4.5B KRW
FY23 −4.5B KRW
FY24 944M KRW
FY25 2.1B KRW

222110 screens 72% overvalued. Compare with Vertex Pharmaceuticals Incorporated →

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Cite: Fair Value Calculator (2026). "PanGen Biotech Inc Fair Value". https://www.fairvalue-calculator.com/stock/222110

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 33 · Below median
Fair Value upside −72% · Below median
Return on equity (TTM) 7% · Top 25%
Return on assets 3% · Top 25%
Net margin (TTM) 15% · Top 25%
Operating margin (TTM) 13% · Above median
Revenue growth 8% · Above median

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 42 · sector 0
PAST 29 · sector 0
HEALTH 100 · 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 PanGen Biotech Inc (222110) overvalued or undervalued?
As of Jul 20, 2026, our model estimates a fair value of 1,395 KRW versus a price of 5,020 KRW, about −72% (overvalued).
What is the fair value of 222110?
Our model-based fair value for PanGen Biotech Inc is 1,395 KRW (as of Jul 20, 2026), built from audited fundamentals. The current price is 5,020 KRW.
What is the quality score of 222110?
PanGen Biotech Inc has a Quality Score of 33/100. 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 PanGen Biotech Inc (222110)?
PanGen Biotech Inc reported trailing-twelve-month revenue of about 13.7B KRW (latest available figure, as of Jul 20, 2026).
What is the net profit margin of 222110?
The net profit margin of PanGen Biotech Inc is about 15.1%, meaning it keeps roughly 15.1% of revenue as net income. 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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