INICS Corp. (452400) fair value: what the stock is really worth
As of Oct 8, 2026: fair value of INICS Corp. KRW 1,221, price KRW 5,430, upside -77.5%, quality 46 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
Inics Corp. manufactures and sells industrial products and automobile parts in South Korea, China, the United States, Indonesia, and Czechia.
Show more
Inics Corp. manufactures and sells industrial products and automobile parts in South Korea, China, the United States, Indonesia, and Czechia. The company offers electrified products, such as upper BPC, refractory bulkhead, ceramic wool, MICA, 3D MICA molded products, fireproof cloth with soft Mica AFF and MICA, bus bar tape, battery cell pad, and cell bonding tapes; interior and exterior products, including sound absorbing material, dual locks, flocking tapes, and acrylic foam tapes. It also provides industrial products, including anaerobic adhesive, double-sided tapes, cross-section tapes, cutting and grinding stones, abrasive, sandpaper and compound, and brushes; and other products including filter housing, air filter, filter assembly, liquid filtration filters, PVC electrical tape, and glass bubbles. The company was founded in 1984 and is headquartered in Busan, South Korea.
Stock analysis
INICS Corp. (452400) currently trades at 5,430 KRW, while our model-based Fair Value estimate is 1,221 KRW, 77.5% below the price, so the stock looks overvalued today.
Show more
Valuation
Bull case: the Asset-Based group reads highest at a median of 9,101 KRW per share, and 3 of the 9 models we run sit above the 5,430 KRW price.
Bear case: the Earnings-Based group reads lowest at 127.13 KRW, and 6 of the 9 models stay below the price. Evidence for this calculation is low.
Scenario range: 916.02 KRW (bear) to 1,527 KRW (bull), the price of 5,430 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 46/100 (below-average quality), in the Consumer Cyclical sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
INICS Corp. reported revenue of 123B KRW in FY2025 versus 114B KRW in FY2022, a compound +2.4%/yr. Reported net income was 247M KRW in FY2025, compounding −71.6%/yr from FY2022.
Key figures
Market cap 48.3B KRW (≈ $35.9M) · P/S ratio 0.41 · Dividend yield 3.7% · Net margin 0.2% · Return on equity 0.6% · Return on assets (EBIT) 5.2% · Operating margin 0.3% · Revenue (TTM) 116B KRW.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 58% below its 52-week high and 5% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −27% fair-value upside, at −78%, 452400 screens richer than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely (127.13 KRW to 9,101 KRW). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear 916.02 KRWFair Value 1,221 KRWBull 1,527 KRW
Price 5,430 KRW · Upside -77.5%
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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.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
Residual Income8,921 KRW8,066 KRW7,596 KRW73
Growth-Adj P/E353.34 KRW504.78 KRW656.21 KRW65
EV/EBITDA6,283 KRW7,145 KRW8,007 KRW64
All 9 models by family
Earnings-Based
Graham-Dodd188.76 KRW479.32 KRW623.14 KRW62
PEG = 1.088.99 KRW127.13 KRW165.27 KRW55
Multiples
P/E Multiple458.01 KRW610.69 KRW763.36 KRW63
P/S Multiple353.92 KRW471.89 KRW589.87 KRW58
P/B Multiple353.92 KRW471.89 KRW589.87 KRW55
EV/EBITDA6,283 KRW7,145 KRW8,007 KRW64
Asset-Based
NCAV (Graham)6,792 KRW9,101 KRW13,584 KRW51
Economic Profit
Residual Income8,921 KRW8,066 KRW7,596 KRW73
Growth Earnings
Growth-Adj P/E353.34 KRW504.78 KRW656.21 KRW65
P/S and P/B multiple show the same value here: both are capped by the same earnings anchor (earnings per share times 17), because margin and return on equity do not support the sector multiple.
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.31/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+17.3%
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.
+2.4%
’22
’23
’24
’25
What shareholders gained per year (last 3 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 3 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.
−67.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year−71.5%
Dividend (yield on the price)3.7%
Profit margin 2022 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.8% → −1%
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.Auto Parts · 662 stocks
Beats the industry median on 1/8 measures
Overall it trails its industry peers.
Valuation
Quality Score46 · Below median
Fair Value upside−77.5% · Bottom 25%
Profitability
Return on equity (TTM)0.6% · Bottom 25%
Return on assets−0.8% · Bottom 25%
Net margin (TTM)0.6% · Bottom 25%
Operating margin (TTM)0.3% · Bottom 25%
Growth and dividend
Revenue growth−11.3% · Bottom 25%
Dividend yield (TTM)3.7% · Above median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 26
FUTURE (revenue growth)0· sector 31
PAST (return on equity)2· sector 30
HEALTH (low debt)0· sector 95
DIVIDEND (yield)74· sector 38
VALUE 0: the price sits above our fair-value range.
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). "INICS Corp. Fair Value". https://www.fairvalue-calculator.com/stock/452400
Frequently asked questions
Is INICS Corp. (452400) overvalued or undervalued?
As of Oct 3, 2026, our model estimates a fair value of 1,221 KRW versus a price of 5,430 KRW, about −78% upside (overvalued).
What is the fair value of 452400?
Our model-based fair value for INICS Corp. is 1,221 KRW (as of Oct 3, 2026), built from audited fundamentals. The current price: 5,430 KRW.
What is the quality score of 452400?
INICS Corp. has a Quality Score of 46/100. 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 INICS Corp. (452400)?
Our model-based price target is the fair value of 1,221 KRW (as of Oct 3, 2026) from 9 valuation models. Cautious scenario 916.02 KRW, optimistic scenario 1,527 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the INICS Corp. stock forecast for 2026?
Our models put fair value at 1,221 KRW, about −78% upside versus a price of 5,430 KRW (overvalued). Cautious scenario 916.02 KRW, optimistic scenario 1,527 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of INICS Corp. (452400)?
INICS Corp. reported trailing-twelve-month revenue of about 116B KRW (latest available figure, as of Oct 3, 2026).
Does INICS Corp. pay a dividend?
INICS Corp. currently shows a dividend yield of about 3.68% relative to its recent price (as of Oct 3, 2026).
What is the intrinsic value of INICS Corp. (452400)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For INICS Corp. it is 1,221 KRW per share (as of Oct 3, 2026), against a price of 5,430 KRW. It is the blended result of 9 valuation models (cash flow, earnings, asset, dividend).
Is INICS Corp. stock overvalued or undervalued in 2026?
As of Oct 3, 2026, 452400 trades above its calculated fair value: price 5,430 KRW, fair value 1,221 KRW, a gap of about −78% (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 452400?
No. The price is what the market pays today (5,430 KRW); the fair value is what the company's own numbers justify (1,221 KRW). For INICS Corp. the two are 4,209 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is INICS Corp. worth?
The market values INICS Corp. at about 48.3B KRW (market capitalisation, as of Oct 3, 2026). Per share that is 5,430 KRW; our models calculate a fair value of 1,221 KRW per share.
What do the bullish and bearish scenarios say about 452400?
Our models span a range for INICS Corp.: cautious scenario 916.02 KRW, base 1,221 KRW, optimistic 1,527 KRW per share (as of Oct 3, 2026, price 5,430 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of INICS Corp. (452400)?
Balance-sheet figures for INICS Corp. (as of Oct 3, 2026): return on equity 0.6%. They feed the Quality Score of 46/100, which measures business quality independently of the share price.
How far is 452400 from its 52-week high?
INICS Corp. trades at 5,430 KRW, about 58% below its 52-week high of 12,879 KRW and 5% above the low of 5,150 KRW (as of Oct 8, 2026). Distance from the high says nothing about value: that is what the fair value of 1,221 KRW is for.
Which stocks are comparable to INICS Corp.?
From the same area (Consumer Cyclical) we also value O'Reilly Automotive, Inc, AutoZone, Inc, Hyundai Mobis Co, Fuyao Glass Industry Group, 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 INICS Corp. stock attractive at the current price?
The data as of Oct 3, 2026: price 5,430 KRW, calculated fair value 1,221 KRW (−78%), Quality Score 46/100, from 9 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 452400 calculated?
We run INICS Corp. through 9 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 1,221 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 14.5 % above its aggregate fair value. INICS Corp. 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 INICS Corp. (452400)?
The closing price on Oct 8, 2026 was 5,430 KRW. Our model-based fair value is 1,221 KRW, about −78% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with INICS Corp. right now?
The price sits above even our optimistic bull case (1,527 KRW). The favourable scenario is already priced in. 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 but not exceptional quality (46/100) and above fair value, neither a clear bargain nor a standout compounder.
Key figures of INICS Corp.
How large is the market capitalisation of INICS Corp. (452400)?
The market capitalisation of INICS Corp. is 48.3B KRW (≈ $35.9M). 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 INICS Corp. (452400)?
The price-to-sales ratio of INICS Corp. is 0.41 (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 INICS Corp. (452400)?
The dividend yield of INICS Corp. is 3.7%. 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 INICS Corp. (452400)?
The net margin of INICS Corp. is 0.2% (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 INICS Corp. (452400)?
The return on equity (ROE) of INICS Corp. is 0.6% (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 INICS Corp. (452400)?
On an EBIT basis the return on assets of INICS Corp. is 5.2% (avg 4y). 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 INICS Corp. (452400)?
The operating margin of INICS Corp. is 0.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at INICS Corp. (452400)?
Revenue at INICS Corp. is growing −11.3% versus a year earlier (3y avg +2.4%). 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 INICS Corp. (452400)?
Earnings per share at INICS Corp. are growing +0.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does INICS Corp. (452400) generate?
The free cash flow of INICS Corp. is −9.1B KRW (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
Free · no account needed
Watch INICS Corp. in the live analysis
One click puts INICS Corp. on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 35,000+ stock screener.
