EN DE
Check 35,000+ stocks against 26 valuation models and 37 quality factors
Data-driven stock valuation

Rayence Co. Ltd (228850) fair value: what the stock is really worth

As of Sep 23, 2026: fair value of Rayence Co. Ltd KRW 7,488, price KRW 7,910, upside -5.3%, quality 55 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? Yes
  3. Add to watchlist

Healthcare · KR · ISIN KR7228850004

RC Some data Sep 24, 2026

Rayence Co. Ltd

228850 · KQ

NeutralThe stock looks roughly fairly valued with average quality.

·Fair value 7,488 KRW · Fairly valued (−5%)
!Quality 55/100
!Weak Growth (revenue 5y +2.5 %/yr)
!Thin margins · 0.3% net margin (TTM)
✓Low debt · generates free cash flow
·3.79% dividend yield
✓Ranks above peers (7/10)
!Narrow moat 29/100
!Evidence only medium, so the estimate is less certain
!Weak on valuation: 26 out of 100
!Weak on past: 1 out of 100
Watch Rayence Co. Ltd for free, get notified when fair value or trend changes. Plus fair value for all 35,000+ stocks, 14 days of Pro free, no card. Watch for free Pro now: $1 first month

What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

15,617 KRW 4,895 KRW Fair Value 7,488 KRW Apr 2021 Sep 2026

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 4,895 KRW – 15,617 KRW · fair‑value band 6,448 KRW – 8,611 KRW · the 7,910 KRW price screens above the 7,488 KRW fair value. Dashed = 300-day average. As of Sep 24, 2026.

Follow Rayence Co. in your weekly email

Every Wednesday you see whether Rayence Co. is on track or worth a review, plus price against fair value. Free, up to 3 stocks.

We send you a confirmation link. Unsubscribe with one click.

Which stocks are undervalued right now? Check free Discover now →

Company profile

Rayence Co., Ltd., together with its subsidiaries, engages in the development, manufacture, and sale of digital X-ray detector products for dental, medical, veterinary, and industrial sectors in South Korea, the United States, Mexico, China, and internationally.

Show more

Rayence Co., Ltd., together with its subsidiaries, engages in the development, manufacture, and sale of digital X-ray detector products for dental, medical, veterinary, and industrial sectors in South Korea, the United States, Mexico, China, and internationally. The company offers TFT/CMOS X-ray detectors for general radiography, C-arm/RF, mammography, and radiotherapy; and CMOS/Super IGZO TFT/a-Si TFT X-ray detectors for applications, such as dental, veterinary, AXI, die-casting, 2D/3D inline/offline, pipe inspection, etc. It also provides radiography imaging software products, including Xmaru Pro, Xmaru View V1, Xmaru W, Xmaru RF, Xmaru NDT, Vetview Pro, VXV console, Ez Dent Vet, Xmaru PACS, and VXV PACS. In addition, the company offers medical information systems for veterinary hospitals; and engages in veterinary medical device and medicine wholesale and retail business, as well as research and development of process equipment and deposition materials. Further, it is involved in import and sales of X-ray detectors, and manufacturing and sales of ISOs. Rayence Co., Ltd. was founded in 2011 and is headquartered in Hwaseong-si, South Korea.

Stock analysis

Rayence Co. Ltd (228850) currently trades at 7,910 KRW, while our model-based Fair Value estimate is 7,488 KRW, implying the stock looks roughly 5.6% fairly valued today.

Show more

Valuation

Bull case: the Asset-Based group reads highest at a median of 10,089 KRW per share, and 4 of the 10 models we run sit above the 7,910 KRW price.

Bear case: the Multiples group reads lowest at 3,752 KRW, and 6 of the 10 models stay below the price. Evidence for this calculation is medium.

Scenario range: 6,448 KRW (bear) to 8,611 KRW (bull), the price of 7,910 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 55/100 (solid quality), in the Healthcare sector.

Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.

Rayence Co. Ltd reported revenue of 115B KRW in FY2025 versus 135B KRW in FY2021, a compound −3.9%/yr. Reported net income was −5.3B KRW in FY2025.

Key figures

Market cap 124B KRW (≈ $91.5M) · P/S ratio 0.75 · Dividend yield 3.8% · Net margin −4.6% · Return on equity 0.1% · Return on assets (EBIT) 4.8% · Operating margin 9.8% · Revenue (TTM) 124B KRW.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).

What moves the price

The share trades about 6% below its 52-week high and 62% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Healthcare peers we cover trades at 5% fair-value upside, at −5%, 228850 screens richer than that median.

Fair Value models

Bear 6,448 KRW Fair Value 7,488 KRW Bull 8,611 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.
Highest evidence
FCF DCF 6,283 KRW 7,130 KRW 8,493 KRW 82
Growth DCF 6,365 KRW 7,160 KRW 8,344 KRW 80
5Y EBITDA Exit 4,818 KRW 5,100 KRW 5,476 KRW 77
All 10 models by family
DCF Models
FCF DCF 6,283 KRW 7,130 KRW 8,493 KRW 82
5Y Revenue Exit 6,486 KRW 7,983 KRW 10,155 KRW 74
5Y EBITDA Exit 4,818 KRW 5,100 KRW 5,476 KRW 77
10Y Revenue Exit 6,294 KRW 7,268 KRW 8,300 KRW 68
10Y EBITDA Exit 5,504 KRW 5,746 KRW 5,958 KRW 70
Multiples
EV/EBITDA 3,569 KRW 3,752 KRW 3,935 KRW 67
EV/Revenue 6,992 KRW 8,695 KRW 10,397 KRW 54
Asset-Based
NCAV (Graham) 7,529 KRW 10,089 KRW 15,058 KRW 54
Growth DCF
Growth DCF 6,365 KRW 7,160 KRW 8,344 KRW 80
Rev-Margin DCF 6,486 KRW 8,075 KRW 10,028 KRW 74

Open the full fair value analysis →

Notify me when 228850 reaches fair value

Put 228850 on your watchlist. We get in touch as soon as price and fair value meet or the trend turns.

Set up alert →

Quality Score breakdown

Overall quality 55/100

Of which business quality 55 · Market factors (momentum, volatility) 73

Profitability 15
Margins and returns on capital today
Quality Growth 15
Are margins and returns improving?
Cashflow 47
Earnings quality: real cash, not paper profit
Fin. Strength 90
Balance sheet, leverage, solvency risk
Investment 97
Disciplined investing over empire-building
Low Volatility 67
Calm price path (market factor)
Momentum 74
Price trend over the last 3–12 months (market factor)
52W Momentum 79
Distance to the 52-week high (market factor)
Net Issuance 82
Share count: buybacks or dilution?

Open the full quality analysis →

Revenue & earnings trend

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. 40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−8.6%
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.
−8.0%
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.
+2.5%
Start year 2020 (pandemic). Over 10 years: +2.9% a year
Revenue growth 10 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.
+2.9%
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.
1.6% (2020) → −3.4% (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

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.
What forecasts expect
n/a
No analyst forecast available.

Watch 228850, get fair value alerts →

Compare Rayence Co. Ltd with another stock

Price, fair value, quality and upside side by side.

Free, no sign-up

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.Medical Devices · 365 stocks

Beats the industry median on 6/9 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 55 · Above median
Fair Value upside −5% · Above median
Profitability
Return on equity (TTM) 0% · Below median
Return on assets 0% · Below median
Net margin (TTM) 0% · Below median
Operating margin (TTM) 10% · Above median
Growth and dividend
Revenue growth 35% · Top 25%
Dividend yield (TTM) 3.8% · Top 25%

Valuation Multiplesvs Medical Devices median · lower = cheaper

P/FCF 0.0× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)26 · sector 10
FUTURE (revenue growth)100 · sector 31
PAST (return on equity)1 · sector 7
HEALTH (low debt)100 · sector 97
DIVIDEND (yield)76 · sector 40

Context: sector, industry, market

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

Similar stocks

10 more Medical Devices stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Abbott Laboratories, ABT $103.49 $74.79 −28%
Stryker Corporation SYK $273.40 $300.74 +10%
Medtronic plc MDT $89.30 $65.57 −27%
Boston Scientific Corporation BSX $44.62 $49.08 +10%
Edwards Lifesciences Corporation EW $86.82 $82.04 −6%
Siemens Healthineers AG SHL €37.21 €35.22 −5%
DexCom, Inc DXCM $87.73 $96.50 +10%
GE HealthCare Technologies Inc GEHC $66.27 $69.62 +5%
Shenzhen Mindray Bio-Medical Electronics Co 300760 ¥156.68 ¥172.35 +10%
Koninklijke Philips N.V PHIA €21.85 €15.32 −30%

Explore undervalued stocks

More undervalued Healthcare stocks →

All undervalued stocks TechnologyFinancial ServicesHealthcareConsumer CyclicalConsumer DefensiveCommunication ServicesIndustrialsEnergyBasic MaterialsReal EstateUtilities Deeply Undervalued StocksUndervalued High-Quality StocksUndervalued Blue-Chip StocksUndervalued Small-Cap StocksUndervalued Dividend Stocks

Try a ready-made strategy

Pick a strategy and jump into the live analysis with that exact screen applied.

🥇 Backtested Best 🏆 Big Names ⭐ Top Rated 💎 Quality on Sale 🚀 Profitable Growth 🧊 Quality Compounders 💵 Dividend Stars 📈 Strong Momentum 📉 Fallen Angels ⚖️ Deeply Undervalued 🔍 Small-Cap Gems 🏰 Moat at a Fair Price 💼 Insider Buying 🎩 Buffett-Style Quality 📚 Peter Lynch GARP 🧮 Greenblatt Magic Formula 🛡️ Graham Defensive

Discover tools

Stock screenerFilter by region, size and sector Compare toolTwo stocks side by side Extrinsic Value Calculator…Calculator with industry benchmark Peter Lynch Fair Value Formula &…Calculator with industry benchmark
Run the numbers yourself: free valuation calculators
DCF CalculatorGraham NumberPeter Lynch FormulaDDM CalculatorFama-French ModelIntrinsic Value
For bloggers & editors: embed code + live data

For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.

Rayence Co. Ltd · Fair Value
7,488 KRW −6%Fair Value
Calculator →

Cite: Fair Value Calculator (2026). "Rayence Co. Ltd Fair Value". https://www.fairvalue-calculator.com/stock/228850

Frequently asked questions

Is Rayence Co. Ltd (228850) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 7,488 KRW versus a price of 7,910 KRW, about −5% upside (fairly valued).
What is the fair value of 228850?
Our model-based fair value for Rayence Co. Ltd is 7,488 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 7,910 KRW.
What is the quality score of 228850?
Rayence Co. Ltd has a Quality Score of 55/100. 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 Rayence Co. Ltd (228850)?
Our model-based price target is the fair value of 7,488 KRW (as of Sep 24, 2026) from 10 valuation models. Cautious scenario 6,448 KRW, optimistic scenario 8,611 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Rayence Co. Ltd stock forecast for 2026?
Our models put fair value at 7,488 KRW, about −5% upside versus a price of 7,910 KRW (fairly valued). Cautious scenario 6,448 KRW, optimistic scenario 8,611 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Rayence Co. Ltd (228850)?
Rayence Co. Ltd reported trailing-twelve-month revenue of about 124B KRW (latest available figure, as of Sep 24, 2026).
Does Rayence Co. Ltd pay a dividend?
Rayence Co. Ltd currently shows a dividend yield of about 3.79% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Rayence Co. Ltd (228850)?
For today's price to be fair in a discounted-cash-flow model, Rayence Co. Ltd would have to grow free cash flow by less than minus 40 % 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 +2.5 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 228850 use?
Our models discount Rayence Co. Ltd at 11.6 %: a base by market capitalisation (micro), damped by beta 0.47, 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 Rayence Co. Ltd that is less than minus 40 % 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 Rayence Co. Ltd (228850) delivered so far?
Over the past 5 years revenue at Rayence Co. Ltd grew +2.5 % 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 Rayence Co. Ltd (228850) growing?
The median revenue growth in the sector is +4.2 % a year. That is the yardstick for the growth priced into Rayence 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 Rayence Co. Ltd (228850)?
The free-cash-flow yield on the price is 5.52 %: that much free cash flow Rayence 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 Rayence Co. Ltd (228850)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Rayence Co. Ltd it is 7,488 KRW per share (as of Sep 24, 2026), against a price of 7,910 KRW. It is the blended result of 10 valuation models (cash flow, earnings, asset, dividend).
Is Rayence Co. Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 228850 trades above its calculated fair value: price 7,910 KRW, fair value 7,488 KRW, a gap of about −5% (fairly valued). 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 228850?
No. The price is what the market pays today (7,910 KRW); the fair value is what the company's own numbers justify (7,488 KRW). For Rayence Co. Ltd the two are 422.33 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Rayence Co. Ltd worth?
The market values Rayence Co. Ltd at about 124B KRW (market capitalisation, as of Sep 24, 2026). Per share that is 7,910 KRW; our models calculate a fair value of 7,488 KRW per share.
What do the bullish and bearish scenarios say about 228850?
Our models span a range for Rayence Co. Ltd: cautious scenario 6,448 KRW, base 7,488 KRW, optimistic 8,611 KRW per share (as of Sep 24, 2026, price 7,910 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Rayence Co. Ltd (228850)?
Balance-sheet figures for Rayence Co. Ltd (as of Sep 24, 2026): return on equity 0.1%. They feed the Quality Score of 55/100, which measures business quality independently of the share price.
How far is 228850 from its 52-week high?
Rayence Co. Ltd trades at 7,910 KRW, about 6% below its 52-week high of 8,430 KRW and 62% above the low of 4,895 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 7,488 KRW is for.
Which stocks are comparable to Rayence Co. Ltd?
From the same area (Healthcare) we also value Abbott Laboratories,, Stryker Corporation, Medtronic plc, Boston Scientific Corporation, 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 Rayence Co. Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price 7,910 KRW, calculated fair value 7,488 KRW (−5%), Quality Score 55/100, 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 228850 calculated?
We run Rayence 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 7,488 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 13.0 % above its aggregate fair value. Rayence 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 Rayence Co. Ltd (228850)?
The closing price on Sep 23, 2026 was 7,910 KRW. Our model-based fair value is 7,488 KRW, about −5% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Rayence Co. Ltd right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. The price sits in the upper half of our model range, so the margin of safety is thin. Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.

Key figures of Rayence Co. Ltd

How large is the market capitalisation of Rayence Co. Ltd (228850)?
The market capitalisation of Rayence Co. Ltd is 124B KRW (≈ $91.5M). 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 Rayence Co. Ltd (228850)?
The price-to-sales ratio of Rayence Co. Ltd is 0.75 (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 Rayence Co. Ltd (228850)?
The dividend yield of Rayence Co. Ltd is 3.8%. 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 Rayence Co. Ltd (228850)?
The net margin of Rayence Co. Ltd is −4.6% (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 Rayence Co. Ltd (228850)?
The return on equity (ROE) of Rayence Co. Ltd is 0.1% (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 Rayence Co. Ltd (228850)?
On an EBIT basis the return on assets of Rayence Co. Ltd is 4.8% (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 Rayence Co. Ltd (228850)?
The operating margin of Rayence Co. Ltd is 9.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Rayence Co. Ltd (228850)?
Revenue at Rayence Co. Ltd is growing +34.9% versus a year earlier (3y avg −8.0%). 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 Rayence Co. Ltd (228850)?
Earnings per share at Rayence Co. Ltd are growing +25.7% versus a year earlier. How much earnings per share grew versus a year earlier.
Free · no account needed

Watch Rayence Co. Ltd in the live analysis

One click puts Rayence Co. Ltd on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 35,000+ stock screener. You can also try 14 days of Pro there, no card.

Watch for free →

Zero risk: nothing is ever charged. Your watchlist is yours, with or without an account.