KNOTUS Co.Ltd (278650) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of KNOTUS Co.Ltd KRW 5,949, price KRW 2,500, upside +138.0%, quality 55 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
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 1,583 KRW – 185,086 KRW · fair‑value band 4,199 KRW – 8,528 KRW · the 2,500 KRW price screens below the 5,949 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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HLB bioStep Co.,Ltd. provides various test services in South Korea. It offers non clinical CRO services for cancer, bone and brain disease, endocrineand metabolic and eye disease, liver and circulatory system disease, dental and gastrointestinal disease, hair growth, kidney and respiratory disease, painmodel, and skin disease.
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HLB bioStep Co.,Ltd. provides various test services in South Korea. It offers non clinical CRO services for cancer, bone and brain disease, endocrineand metabolic and eye disease, liver and circulatory system disease, dental and gastrointestinal disease, hair growth, kidney and respiratory disease, painmodel, and skin disease. It also offers representative analysis equipment, veterinary drug development consulting and clinical trial services, and bioanalysis items. The company was formerly known as KNOTUS Co.,Ltd. HLB bioStep Co.,Ltd. was founded in 2012 and is headquartered in Incheon, South Korea.
Stock analysis
KNOTUS Co.Ltd (278650) currently trades at 2,500 KRW, while our model-based Fair Value estimate is 5,949 KRW, implying the stock looks roughly 58.0% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 4,415 KRW per share, and 7 of the 7 models we run sit above the 2,500 KRW price.
Bear case: the Multiples group reads lowest at 3,062 KRW, and 0 of the 7 models stay below the price. Evidence for this calculation is low.
Scenario range: 4,199 KRW (bear) to 8,528 KRW (bull), the price of 2,500 KRW sits below 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.
KNOTUS Co.Ltd reported revenue of 74.1B KRW in FY2025 versus 64.4B KRW in FY2021, a compound +3.6%/yr. Reported net income was −19.0B KRW in FY2025.
Key figures
Market cap 42.2B KRW (≈ $31.0M) · P/S ratio 0.44 · Net margin −25.6% · Return on equity −18.4% · Return on assets (EBIT) 0.8% · Operating margin −19.3% · Revenue (TTM) 74.0B KRW · Revenue growth (YoY) −0.7%.
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 70% below its 52-week high and 58% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at −5% fair-value upside, at 138%, 278650 screens cheaper than that median.
Fair Value models
Bear 4,199 KRWFair Value 5,949 KRWBull 8,528 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.
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
+27.3%
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.
−5.0%
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.
+4.8%
Start year 2020 (pandemic)
Revenue growth 9 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.
+23.4%
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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.
15.1% (2020) → −11.6% (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
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
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).
+14.5%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (South Korea: IMF forecast 2.1% a year to 2030, 2.1% from 2016 to 2025) that is about +12.2% a year for the price.
Price, fair value, quality and upside side by side.
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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.Biotechnology · 649 stocks
Beats the industry median on 5/8 measures
Overall it ranks above its industry peers.
Valuation
Quality Score55 · Above median
Fair Value upside+138% · Top 25%
Profitability
Return on assets−3% · Above median
Net margin (TTM)−26% · Below median
Operating margin (TTM)−19% · Bottom 25%
Growth and dividend
Revenue growth−1% · Below median
Balance sheet
Debt / equity0.02× · Below median
Valuation Multiplesvs Biotechnology median · lower = cheaper
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.
Cite: Fair Value Calculator (2026). "KNOTUS Co.Ltd Fair Value". https://www.fairvalue-calculator.com/stock/278650
Frequently asked questions
Is KNOTUS Co.Ltd (278650) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 5,949 KRW versus a price of 2,500 KRW, about +138% upside (undervalued).
What is the fair value of 278650?
Our model-based fair value for KNOTUS Co.Ltd is 5,949 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 2,500 KRW.
What is the quality score of 278650?
KNOTUS 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 KNOTUS Co.Ltd (278650)?
Our model-based price target is the fair value of 5,949 KRW (as of Sep 24, 2026) from 7 valuation models. Cautious scenario 4,199 KRW, optimistic scenario 8,528 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the KNOTUS Co.Ltd stock forecast for 2026?
Our models put fair value at 5,949 KRW, about +138% upside versus a price of 2,500 KRW (undervalued). Cautious scenario 4,199 KRW, optimistic scenario 8,528 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of KNOTUS Co.Ltd (278650)?
KNOTUS Co.Ltd reported trailing-twelve-month revenue of about 74.0B KRW (latest available figure, as of Sep 24, 2026).
What growth is priced into KNOTUS Co.Ltd (278650)?
For today's price to be fair in a discounted-cash-flow model, KNOTUS Co.Ltd would have to grow free cash flow by +14.5 % per year for five years (discount rate 10.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +4.8 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 278650 use?
Our models discount KNOTUS Co.Ltd at 10.1 %: a base by market capitalisation (nano), 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 KNOTUS Co.Ltd that is +14.5 % per year a year over ten years, using the same discount rate (10.1 %) and the same formula as our fair value.
How much growth has KNOTUS Co.Ltd (278650) delivered so far?
Over the past 5 years revenue at KNOTUS Co.Ltd grew +4.8 % a year. The price currently implies +14.5 % 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 KNOTUS Co.Ltd (278650) growing?
The median revenue growth in the sector is +1.8 % a year. That is the yardstick for the growth priced into KNOTUS Co.Ltd (+14.5 % 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 KNOTUS Co.Ltd (278650)?
The free-cash-flow yield on the price is 2.43 %: that much free cash flow KNOTUS Co.Ltd produces per unit of market value. When it exceeds the discount rate of our models (10.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of KNOTUS Co.Ltd (278650)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For KNOTUS Co.Ltd it is 5,949 KRW per share (as of Sep 24, 2026), against a price of 2,500 KRW. It is the blended result of 7 valuation models (cash flow, earnings, asset, dividend).
Is KNOTUS Co.Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 278650 trades below its calculated fair value: price 2,500 KRW, fair value 5,949 KRW, a gap of about +138% (undervalued). 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 278650?
No. The price is what the market pays today (2,500 KRW); the fair value is what the company's own numbers justify (5,949 KRW). For KNOTUS Co.Ltd the two are 3,449 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is KNOTUS Co.Ltd worth?
The market values KNOTUS Co.Ltd at about 42.2B KRW (market capitalisation, as of Sep 24, 2026). Per share that is 2,500 KRW; our models calculate a fair value of 5,949 KRW per share.
What do the bullish and bearish scenarios say about 278650?
Our models span a range for KNOTUS Co.Ltd: cautious scenario 4,199 KRW, base 5,949 KRW, optimistic 8,528 KRW per share (as of Sep 24, 2026, price 2,500 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of KNOTUS Co.Ltd (278650)?
Balance-sheet figures for KNOTUS Co.Ltd (as of Sep 24, 2026): return on equity −18.4%, debt of 0.02 per unit of equity. They feed the Quality Score of 55/100, which measures business quality independently of the share price.
How far is 278650 from its 52-week high?
KNOTUS Co.Ltd trades at 2,500 KRW, about 70% below its 52-week high of 8,320 KRW and 58% above the low of 1,583 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 5,949 KRW is for.
Which stocks are comparable to KNOTUS Co.Ltd?
From the same area (Healthcare) we also value Vertex Pharmaceuticals Incorporated, Regeneron Pharmaceuticals, Inc, argenx SE, Samsung Biologics Co, 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 KNOTUS Co.Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price 2,500 KRW, calculated fair value 5,949 KRW (+138%), Quality Score 55/100, from 7 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 278650 calculated?
We run KNOTUS Co.Ltd through 7 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 5,949 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. KNOTUS Co.Ltd currently trades 138 % below its own fair value, and the market average says nothing about that. 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 KNOTUS Co.Ltd (278650)?
The closing price on Sep 23, 2026 was 2,500 KRW. Our model-based fair value is 5,949 KRW, about +138% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with KNOTUS Co.Ltd right now?
The price is below even our cautious bear case (4,199 KRW). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (55/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (4,199 KRW to 8,528 KRW) leaves room in how you read the outcome.
Key figures of KNOTUS Co.Ltd
How large is the market capitalisation of KNOTUS Co.Ltd (278650)?
The market capitalisation of KNOTUS Co.Ltd is 42.2B KRW (≈ $31.0M). 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 KNOTUS Co.Ltd (278650)?
The price-to-sales ratio of KNOTUS Co.Ltd is 0.44 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the net margin of KNOTUS Co.Ltd (278650)?
The net margin of KNOTUS Co.Ltd is −25.6% (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 KNOTUS Co.Ltd (278650)?
The return on equity (ROE) of KNOTUS Co.Ltd is −18.4% (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 KNOTUS Co.Ltd (278650)?
On an EBIT basis the return on assets of KNOTUS Co.Ltd is 0.8% (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 KNOTUS Co.Ltd (278650)?
The operating margin of KNOTUS Co.Ltd is −19.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at KNOTUS Co.Ltd (278650)?
Revenue at KNOTUS Co.Ltd is growing −0.7% versus a year earlier (3y avg −5.0%). 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 KNOTUS Co.Ltd (278650)?
Earnings per share at KNOTUS Co.Ltd are growing −48.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does KNOTUS Co.Ltd (278650) carry?
The net debt of KNOTUS Co.Ltd is 76.0B KRW (fiscal year 2022, ≈ 74.0 yrs of FCF). 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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