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BNC Korea Co. Ltd (256840) fair value: what the stock is really worth

As of Sep 23, 2026: fair value of BNC Korea Co. Ltd KRW 1,355, price KRW 2,635, upside -48.6%, quality 44 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? No
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Healthcare · KR

BK Thin data Sep 24, 2026

BNC Korea Co. Ltd

256840 · KQ

Weakest SetupStrongly overvalued and low quality.

!Fair value 1,355 KRW · Strongly overvalued (−49%)
!Quality 44/100
!Mixed Growth (revenue 5y +37.6 %/yr)
!Loss over the last twelve months · -3.6% net margin (TTM) · fiscal year 2025 3.0%
!Low debt · negative free cash flow
·2.66% dividend yield
!Trails peers (1/9)
!Narrow moat 11/100
!Evidence only low, so the estimate is less certain
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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

55,414 KRW 2,170 KRW Fair Value 1,355 KRW May 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 2,170 KRW – 55,414 KRW · fair‑value band 960.15 KRW – 1,373 KRW · the 2,635 KRW price screens above the 1,355 KRW fair value. Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

BNC KOREA, Inc. engages in the research and development, production, and sale of biomaterials for medicines in South Korea. The company offers BIENOX Inj.

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BNC KOREA, Inc. engages in the research and development, production, and sale of biomaterials for medicines in South Korea. The company offers BIENOX Inj. for temporary improvement of moderate to severe glabellar wrinkles associated with corrugator muscle and/or procerus muscle activity in adults; Juvegel for temporary improvement of moderate to severe nasolabial folds in adults; and Collapleo Plus, a collagen-based material for the supplementation of damaged or deficient ligaments, tendons, muscles, and fascia. It also provides HA fillers and skin booster fillers, including Cutegel, Cutegel Lidocaine, FLORE Lidocaine, Cutegel Hydro, S-DNA, and H-DNA, which are used to temporarily reduce facial wrinkles through physical restoration; Hibarry, a bio-absorbable gel and solution mixture used to prevent adhesion of the spinal cord post-surgery; and GentaQ a beauty face, and home and other care products under the I.st name. The company was formerly known as BNC Korea Co., Ltd. and changed its name to BNC KOREA, Inc. in April 2026. The company also exports its products to 45 countries. BNC KOREA, Inc. was incorporated in 2007 and is headquartered in Daegu, South Korea.

Stock analysis

BNC Korea Co. Ltd (256840) currently trades at 2,635 KRW, while our model-based Fair Value estimate is 1,355 KRW, implying the stock looks roughly 94.5% overvalued today.

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Valuation

Bull case: the DCF Models group reads highest at a median of 2,971 KRW per share, and 2 of the 15 models we run sit above the 2,635 KRW price.

Bear case: the Multiples group reads lowest at 912.42 KRW, and 13 of the 15 models stay below the price. Evidence for this calculation is low.

Scenario range: 960.15 KRW (bear) to 1,373 KRW (bull), the price of 2,635 KRW sits above 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 44/100 (below-average quality), in the Healthcare sector.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

BNC Korea Co. Ltd reported revenue of 95.9B KRW in FY2025 versus 25.2B KRW in FY2021, a compound +39.6%/yr. Reported net income was 2.8B KRW in FY2025.

Key figures

Market cap 180B KRW (≈ $132M) · P/S ratio 1.77 · Dividend yield 2.7% · Net margin 3.0% · Return on equity −1.8% · Return on assets (EBIT) −1.4% · Operating margin −7.1% · Revenue (TTM) 91.2B KRW.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (low confidence).

What moves the price

The share trades about 56% below its 52-week high and 21% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Healthcare peers we cover trades at −8% fair-value upside, at −49%, 256840 screens richer than that median.

Fair Value models

Bear 960.15 KRW Fair Value 1,355 KRW Bull 1,373 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
Owner Earnings 2,081 KRW 2,971 KRW 4,523 KRW 76
EPV 1,322 KRW 1,341 KRW 1,357 KRW 74
ROIC Compounder 1,322 KRW 1,341 KRW 1,357 KRW 72
All 15 models by family
DCF Models
Owner Earnings 2,081 KRW 2,971 KRW 4,523 KRW 76
Earnings-Based
Graham-Dodd 282.02 KRW 1,967 KRW 2,760 KRW 63
Lynch FV 737.11 KRW 1,053 KRW 1,369 KRW 61
PEG = 1.0 737.11 KRW 1,053 KRW 1,369 KRW 57
EPV 1,322 KRW 1,341 KRW 1,357 KRW 74
Multiples
P/E Multiple 684.31 KRW 912.42 KRW 1,141 KRW 63
P/S Multiple 528.79 KRW 705.05 KRW 881.31 KRW 58
P/B Multiple 528.79 KRW 705.05 KRW 881.31 KRW 55
EV/EBIT 1,482 KRW 1,590 KRW 1,697 KRW 66
EV/EBITDA 3,171 KRW 3,842 KRW 4,512 KRW 67
EV/Revenue 1,389 KRW 1,488 KRW 1,587 KRW 54
Asset-Based
NCAV (Graham) 1,708 KRW 2,289 KRW 3,417 KRW 54
Economic Profit
Residual Income 2,106 KRW 1,883 KRW 1,198 KRW 71
ROIC Compounder 1,322 KRW 1,341 KRW 1,357 KRW 72
Growth Earnings
Growth-Adj P/E 960.15 KRW 1,372 KRW 1,783 KRW 67

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Quality Score breakdown

Overall quality 44/100

Of which business quality 48 · Market factors (momentum, volatility) 24

Profitability 22
Margins and returns on capital today
Quality Growth 27
Are margins and returns improving?
Cashflow 36
Earnings quality: real cash, not paper profit
Fin. Strength 83
Balance sheet, leverage, solvency risk
Investment 62
Disciplined investing over empire-building
Low Volatility 51
Calm price path (market factor)
Momentum 17
Price trend over the last 3–12 months (market factor)
52W Momentum 6
Distance to the 52-week high (market factor)
Net Issuance 61
Share count: buybacks or dilution?

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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. 46/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+7.5%
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.
+31.4%
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.
+37.6%
Start year 2020 (pandemic)
Revenue growth 6 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.
+32.6%
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.
+12.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year+9.5%
Dividend (yield on the price)2.7%
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.5% → 2%

256840 screens 95% overvalued. Compare with Merck KGaA →

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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.Drug Manufacturers - Specialty & Generic · 629 stocks

Beats the industry median on 1/8 measures
Overall it trails its industry peers.
Valuation
Quality Score 44 · Below median
Fair Value upside −49% · Below median
Profitability
Return on assets −1% · Bottom 25%
Net margin (TTM) −4% · Below median
Operating margin (TTM) −7% · Bottom 25%
Growth and dividend
Revenue growth −18% · Bottom 25%
Dividend yield (TTM) 2.7% · Above median
Balance sheet
Debt / equity 0.09× · Above median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 15
FUTURE (revenue growth)0 · sector 20
PAST (return on equity)0 · sector 27
HEALTH (low debt)96 · sector 96
DIVIDEND (yield)53 · sector 32

VALUE 0: the price sits above our fair-value range.

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 Drug Manufacturers - Specialty & Generic stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Merck KGaA MRK €133.95 €108.70 −19%
Takeda Pharmaceutical Company TAK $18.81 $11.29 −40%
Jiangsu Hengrui Pharmaceuticals Co 600276 ¥45.58 ¥50.14 +10%
Sun Pharmaceutical Industries Limited SUNPHARMA ₹1,865 ₹1,979 +6%
Galderma Group GALD CHF 163.80 CHF 109.88 −33%
Haleon plc HLN $9.25 $8.50 −8%
Teva Pharmaceutical Industries Limited TEVA $39.01 $20.75 −47%
Sandoz Group SDZ CHF 70.76 CHF 40.16 −43%
Zoetis Inc ZTS $71.61 $108.48 +51%
Hansoh Pharmaceutical Group 3692 HK$35.34 HK$38.87 +10%

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BNC Korea Co. Ltd · Fair Value
1,355 KRW −95%Fair Value
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Cite: Fair Value Calculator (2026). "BNC Korea Co. Ltd Fair Value". https://www.fairvalue-calculator.com/stock/256840

Frequently asked questions

Is BNC Korea Co. Ltd (256840) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 1,355 KRW versus a price of 2,635 KRW, about −49% upside (overvalued).
What is the fair value of 256840?
Our model-based fair value for BNC Korea Co. Ltd is 1,355 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 2,635 KRW.
What is the quality score of 256840?
BNC Korea Co. Ltd has a Quality Score of 44/100. 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 BNC Korea Co. Ltd (256840)?
Our model-based price target is the fair value of 1,355 KRW (as of Sep 24, 2026) from 15 valuation models. Cautious scenario 960.15 KRW, optimistic scenario 1,373 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the BNC Korea Co. Ltd stock forecast for 2026?
Our models put fair value at 1,355 KRW, about −49% upside versus a price of 2,635 KRW (overvalued). Cautious scenario 960.15 KRW, optimistic scenario 1,373 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of BNC Korea Co. Ltd (256840)?
BNC Korea Co. Ltd reported trailing-twelve-month revenue of about 91.2B KRW (latest available figure, as of Sep 24, 2026).
Does BNC Korea Co. Ltd pay a dividend?
BNC Korea Co. Ltd currently shows a dividend yield of about 2.66% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of BNC Korea Co. Ltd (256840)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For BNC Korea Co. Ltd it is 1,355 KRW per share (as of Sep 24, 2026), against a price of 2,635 KRW. It is the blended result of 15 valuation models (cash flow, earnings, asset, dividend).
Is BNC Korea Co. Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 256840 trades above its calculated fair value: price 2,635 KRW, fair value 1,355 KRW, a gap of about −49% (overvalued). 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 256840?
No. The price is what the market pays today (2,635 KRW); the fair value is what the company's own numbers justify (1,355 KRW). For BNC Korea Co. Ltd the two are 1,280 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is BNC Korea Co. Ltd worth?
The market values BNC Korea Co. Ltd at about 180B KRW (market capitalisation, as of Sep 24, 2026). Per share that is 2,635 KRW; our models calculate a fair value of 1,355 KRW per share.
What do the bullish and bearish scenarios say about 256840?
Our models span a range for BNC Korea Co. Ltd: cautious scenario 960.15 KRW, base 1,355 KRW, optimistic 1,373 KRW per share (as of Sep 24, 2026, price 2,635 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of BNC Korea Co. Ltd (256840)?
Balance-sheet figures for BNC Korea Co. Ltd (as of Sep 24, 2026): return on equity −1.8%, debt of 0.09 per unit of equity. They feed the Quality Score of 44/100, which measures business quality independently of the share price.
How far is 256840 from its 52-week high?
BNC Korea Co. Ltd trades at 2,635 KRW, about 56% below its 52-week high of 5,956 KRW and 21% above the low of 2,170 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 1,355 KRW is for.
Which stocks are comparable to BNC Korea Co. Ltd?
From the same area (Healthcare) we also value Merck KGaA, Takeda Pharmaceutical Company, Jiangsu Hengrui Pharmaceuticals Co, Sun Pharmaceutical Industries Limited, 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 BNC Korea Co. Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price 2,635 KRW, calculated fair value 1,355 KRW (−49%), Quality Score 44/100, from 15 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 256840 calculated?
We run BNC Korea Co. Ltd through 15 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 1,355 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. BNC Korea 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 BNC Korea Co. Ltd (256840)?
The closing price on Sep 23, 2026 was 2,635 KRW. Our model-based fair value is 1,355 KRW, about −49% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with BNC Korea Co. Ltd right now?
The price sits above even our optimistic bull case (1,373 KRW). The favourable scenario is already priced in. Weak quality (44/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.

Key figures of BNC Korea Co. Ltd

How large is the market capitalisation of BNC Korea Co. Ltd (256840)?
The market capitalisation of BNC Korea Co. Ltd is 180B KRW (≈ $132M). 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 BNC Korea Co. Ltd (256840)?
The price-to-sales ratio of BNC Korea Co. Ltd is 1.77 (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 BNC Korea Co. Ltd (256840)?
The dividend yield of BNC Korea Co. Ltd is 2.7%. 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 BNC Korea Co. Ltd (256840)?
The net margin of BNC Korea Co. Ltd is 3.0% (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 BNC Korea Co. Ltd (256840)?
The return on equity (ROE) of BNC Korea Co. Ltd is −1.8% (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 BNC Korea Co. Ltd (256840)?
On an EBIT basis the return on assets of BNC Korea Co. Ltd is −1.4% (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 BNC Korea Co. Ltd (256840)?
The operating margin of BNC Korea Co. Ltd is −7.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at BNC Korea Co. Ltd (256840)?
Revenue at BNC Korea Co. Ltd is growing −18.4% versus a year earlier (3y avg +31.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does BNC Korea Co. Ltd (256840) generate?
The free cash flow of BNC Korea Co. Ltd is −1.9B KRW (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does BNC Korea Co. Ltd (256840) carry?
The net debt of BNC Korea Co. Ltd is 20.4B KRW (fiscal year 2021). 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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