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NDFOS Co (238090) Fair Value & Analysis

Basic Materials · KR · Market cap 64.2B KRW

NC NDFOS Co 238090 · KQ
Price2,125 KRW
Fair Value2,545 KRW
Upside+19.8%
Quality71/100
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Weak Growth
Solidly profitable · 11.5% net margin
Low debt · generates free cash flow
Ranks above peers (8/9)
Moderate moat 45/100
Evidence: High Range 1,909 KRW – 3,182 KRW Share as image

Fair value as of: Jul 22, 2026

From 24 valuation models · updated 19 days ago

Share price −12.2% over the past month.

A solid business, screening 20% undervalued on our models.

What matters now

  • Our model range runs from 1,909 KRW (bear) to 3,182 KRW (bull), base 2,545 KRW. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 71/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

16,500 KRW 1,549 KRW Fair Value 2,545 KRW Jan 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 22, 2026.

How to read this chart

60‑month range 1,549 KRW – 16,500 KRW · fair‑value band 1,909 KRW – 3,182 KRW · the 2,125 KRW price screens below the 2,545 KRW fair value. Dashed = 300-day average. As of Jul 22, 2026.

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Analysis

NDFOS Co (238090) currently trades at 2,125 KRW, while our model-based Fair Value estimate is 2,545 KRW, implying the stock looks roughly 19.8% undervalued today. The Quality Score stands at 71/100 (solid quality), in the Basic Materials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, NDFOS Co generated revenue of 49.1B KRW at a net margin of 11.5%. Revenue declined 12.6% year over year. It earns a return on equity of 7.0%. Net debt stands at 2.3B KRW. Fundamentals as of Jul 22, 2026

Our scenario range runs from 1,909 KRW (bear case) to 3,182 KRW (bull case); at 2,125 KRW, the current price sits within 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 38% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -58% fair-value upside, at 20%, 238090 screens cheaper 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 2,882 KRW 3,734 KRW 5,192 KRW 80
Residual Income 2,490 KRW 2,535 KRW 2,491 KRW 76
Rev-Margin DCF 2,232 KRW 2,951 KRW 3,843 KRW 74
All 24 models by family
DCF Models
FCF DCF 2,778 KRW 3,656 KRW 5,282 KRW 38
Owner Earnings 2,888 KRW 3,809 KRW 5,516 KRW 31
5Y Revenue Exit 2,232 KRW 2,898 KRW 3,864 KRW 39
5Y EBITDA Exit 2,367 KRW 3,131 KRW 4,143 KRW 41
5Y P/E Exit 2,585 KRW 3,509 KRW 4,615 KRW 38
10Y Revenue Exit 2,391 KRW 2,907 KRW 3,449 KRW 36
10Y EBITDA Exit 2,511 KRW 3,050 KRW 3,613 KRW 37
10Y P/E Exit 2,643 KRW 3,284 KRW 3,890 KRW 35
Earnings-Based
Graham-Dodd 1,198 KRW 1,464 KRW 1,648 KRW 54
EPV 1,312 KRW 1,440 KRW 1,552 KRW 59
Dividend Discount
Gordon GGM 327.65 KRW 358.64 KRW 405.84 KRW 70
DDM Multi-Stage 327.65 KRW 411.09 KRW 528.05 KRW 61
Multiples
P/E Multiple 2,247 KRW 2,996 KRW 3,744 KRW 63
P/S Multiple 1,909 KRW 2,545 KRW 3,182 KRW 58
P/B Multiple 2,247 KRW 2,996 KRW 3,744 KRW 55
EV/EBIT 2,240 KRW 2,806 KRW 3,371 KRW 53
EV/EBITDA 2,373 KRW 2,984 KRW 3,595 KRW 54
EV/Revenue 2,013 KRW 2,644 KRW 3,274 KRW 43
Asset-Based
NCAV (Graham) 1,605 KRW 2,151 KRW 3,210 KRW 50
Growth DCF
Growth DCF 2,882 KRW 3,734 KRW 5,192 KRW 80
Rev-Margin DCF 2,232 KRW 2,951 KRW 3,843 KRW 74
Economic Profit
Residual Income 2,490 KRW 2,535 KRW 2,491 KRW 76
ROIC Compounder 1,312 KRW 1,440 KRW 1,552 KRW 72
Growth Earnings
Growth-Adj P/E 1,601 KRW 2,286 KRW 2,972 KRW 68

Widest divergence: DCF Models (3,131 KRW) versus Dividend Discount (358.64 KRW). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 49.1B KRW
Revenue growth (YoY) -12.6%
Net margin 11.5%
Return on equity 7.0%
Free cash flow 6.8B KRW FY2025
Operating margin 9.5%
More key figures
EPS growth (YoY) -48.2%
Net debt 2.3B KRW FY2022

Figures from reported company fundamentals · as of Jul 22, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 71/100

Of which business quality 69 · Market factors (momentum, volatility) 40

Profitability 36
Margins and returns on capital today
Quality Growth 56
Are margins and returns improving?
Cashflow 69
Earnings quality: real cash, not paper profit
Fin. Strength 82
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 41
Price trend over the last 3–12 months (market factor)
52W Momentum 27
Distance to the 52-week high (market factor)
Net Issuance 87
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

NDFOS Co., Ltd. operates as a tape and film company in South Korea. The company offers adhesive tapes, such as waterproof tapes, light-shielding tapes, heat reaction tapes, battery fixing tapes, thin film tapes, convergence type functional tapes, and heat radiation tapes; functional films, including automobiles, industries, and everyday life.

Full company description

NDFOS Co., Ltd. operates as a tape and film company in South Korea. The company offers adhesive tapes, such as waterproof tapes, light-shielding tapes, heat reaction tapes, battery fixing tapes, thin film tapes, convergence type functional tapes, and heat radiation tapes; functional films, including automobiles, industries, and everyday life. It also develops ARS and STR, anticancer drugs for cancer immunotherapy technology. The company was founded in 2010 and is headquartered in Eumseong-eup, South Korea.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

NDFOS Co reported revenue of 50.4B KRW in FY2025 versus 63.3B KRW in FY2021, a compound −5.5%/yr. Reported net income was 5.2B KRW in FY2025, compounding −26.6%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
50.4B KRW
Latest YoY
−3.9%
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.
−17.4%
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.
−10.8%
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.
+0.8%
Revenue −5.5%/yr
FY21 63.3B KRW
FY22 89.3B KRW
FY23 48.9B KRW
FY24 52.5B KRW
FY25 50.4B KRW
Net income −26.6%/yr
FY21 18.1B KRW
FY22 −19.8B KRW
FY23 −13.8B KRW
FY24 −31.0B KRW
FY25 5.2B KRW

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Cite: Fair Value Calculator (2026). "NDFOS Co Fair Value". https://www.fairvalue-calculator.com/stock/238090

Peer Group

Specialty Chemicals · 673 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 71 · Top 25%
Fair Value upside +20% · Top 25%
Return on equity (TTM) 7% · Above median
Return on assets 4% · Above median
Net margin (TTM) 12% · Top 25%
Operating margin (TTM) 10% · Above median
Revenue growth -13% · Bottom 25%

Valuation Multiples vs Specialty Chemicals 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 60 · sector 0
FUTURE 0 · sector 19
PAST 28 · sector 23
HEALTH 100 · sector 95
DIVIDEND 0 · sector 25

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 Specialty Chemicals stocks, each showing price versus our Fair Value estimate (as of Jul 22, 2026).

Stock Price Fair Value vs Fair Value
Linde plc LIN $489.98 $222.03 -55%
Nan Ya Plastics Corporation 1303 181.50 TWD 255.83 TWD +41%
Wanhua Chemical Group 600309 ¥70.04 ¥68.03 -3%
Novozymes A/S NSISB kr 428.20 kr 179.66 -58%
Asian Paints Limited ASIANPAINT ₹2,689 ₹668.81 -75%
Solar Industries India Limited SOLARINDS ₹18,236 ₹2,793 -85%
Pidilite Industries Limited PIDILITIND ₹1,560 ₹351.84 -77%
PT Chandra Asri Pacific Tbk TPIA 1,805 IDR 2,888 IDR +60%
Linde India Limited LINDEINDIA ₹7,115 ₹757.93 -89%
Berger Paints India Limited BERGEPAINT ₹493.70 ₹164.29 -67%

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Frequently asked questions

Is NDFOS Co (238090) overvalued or undervalued?
As of Jul 22, 2026, our model estimates a fair value of 2,545 KRW versus a price of 2,125 KRW, about +20% (undervalued).
What is the fair value of 238090?
Our model-based fair value for NDFOS Co is 2,545 KRW (as of Jul 22, 2026), built from audited fundamentals. The current price is 2,125 KRW.
What is the quality score of 238090?
NDFOS Co has a Quality Score of 71/100. 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 NDFOS Co (238090)?
NDFOS Co reported trailing-twelve-month revenue of about 49.1B KRW (latest available figure, as of Jul 22, 2026).
What is the net profit margin of 238090?
The net profit margin of NDFOS Co is about 11.5%, meaning it keeps roughly 11.5% 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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