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ASTech Co (453860) Fair Value & Analysis

Industrials · KR · Market cap 60.8B KRW

AC ASTech Co 453860 · KQ
Price9,260 KRW
Fair Value5,705 KRW
Upside-38.4%
Quality25/100
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Weak Growth
Loss-making · -4.0% net margin
Low debt · negative free cash flow
5.19% dividend yield
Trails peers (1/10)
Narrow moat 19/100
Evidence: Medium Range 4,279 KRW – 7,132 KRW Share as image

Fair value as of: Jul 22, 2026

From 8 valuation models · updated 18 days ago

Fair value updated Jul 22, 2026, revised from 6,504 KRW to 5,705 KRW (−12.3%) since Jul 11, 2026. Share price −8.2% over the past month.

Below-average quality, and screening another 38% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (7,132 KRW). The favourable scenario is already priced in.
  • Weak quality (25/100) and above fair value at the same time, the margin of safety is missing on both counts.
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Price vs Fair Value (3 years)

67,920 KRW 8,970 KRW Fair Value 5,705 KRW Nov 2023 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

32‑month range 8,970 KRW – 67,920 KRW · fair‑value band 4,279 KRW – 7,132 KRW · the 9,260 KRW price screens above the 5,705 KRW fair value. Dashed = 300-day average. As of Jul 22, 2026.

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Analysis

ASTech Co (453860) currently trades at 9,260 KRW, while our model-based Fair Value estimate is 5,705 KRW, implying the stock looks roughly 38.4% overvalued today. The Quality Score stands at 25/100 (below-average quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).

Over the trailing twelve months, ASTech Co generated revenue of 22.9B KRW at a net margin of -4.0%. Revenue declined 26.1% year over year. It earns a return on equity of -1.4%. Net debt stands at 36.8B KRW. Fundamentals as of Jul 22, 2026

Our scenario range runs from 4,279 KRW (bear case) to 7,132 KRW (bull case); at 9,260 KRW, the current price sits above 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 58% below its 52-week high, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -59% fair-value upside, at -38%, 453860 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-Adj P/E 3,732 KRW 5,332 KRW 6,932 KRW 68
P/E Multiple 5,286 KRW 7,048 KRW 8,810 KRW 63
Residual Income 6,780 KRW 6,664 KRW 5,869 KRW 61
All 8 models by family
Earnings-Based
Graham-Dodd 2,282 KRW 2,789 KRW 3,138 KRW 54
Multiples
P/E Multiple 5,286 KRW 7,048 KRW 8,810 KRW 63
P/S Multiple 4,279 KRW 5,705 KRW 7,132 KRW 58
P/B Multiple 4,279 KRW 5,705 KRW 7,132 KRW 55
EV/EBITDA 243.65 KRW 1,493 KRW 2,743 KRW 54
Asset-Based
NCAV (Graham) 4,595 KRW 6,157 KRW 9,189 KRW 50
Economic Profit
Residual Income 6,780 KRW 6,664 KRW 5,869 KRW 61
Growth Earnings
Growth-Adj P/E 3,732 KRW 5,332 KRW 6,932 KRW 68

Widest divergence: Economic Profit (6,664 KRW) versus Earnings-Based (2,789 KRW). Highest evidence: Growth-Adj P/E (68).

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Key figures & financial health

Revenue (TTM) 22.9B KRW
Revenue growth (YoY) -26.1%
Net margin -4.0%
Return on equity -1.4%
Free cash flow −28.0B KRW FY2025
Operating margin -37.8%
More key figures
Dividend yield 5.2%
EPS growth (YoY) -90.0%
Net debt 36.8B KRW FY2025

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

Quality Score breakdown

Overall quality 25/100

Of which business quality 31 · Market factors (momentum, volatility) 21

Profitability 22
Margins and returns on capital today
Quality Growth 0
Are margins and returns improving?
Cashflow 26
Earnings quality: real cash, not paper profit
Fin. Strength 44
Balance sheet, leverage, solvency risk
Investment 0
Disciplined investing over empire-building
Low Volatility 68
Calm price path (market factor)
Momentum 1
Price trend over the last 3–12 months (market factor)
52W Momentum 1
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

ASTech Co., Ltd. operates as a fine chemical manufacturing company in South Korea. It offers organic UV filters, such as Uvimax Type, Uvimax DHHB, Uvimax EHT, Uvimax TDSA, and Uvimax BEMT; active pharmaceutical ingredients; and other products. The company was founded in 2005 and is headquartered in Seocheon-eup, South Korea.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

ASTech Co reported revenue of 24.6B KRW in FY2025 versus 14.6B KRW in FY2021, a compound +13.8%/yr. Reported net income was 2.2B KRW in FY2025, compounding +42.8%/yr from FY2021.

Growth Quality 8/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
24.6B KRW
Latest YoY
−42.3%
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.
−8.6%
Revenue +13.8%/yr
FY21 14.6B KRW
FY22 32.2B KRW
FY23 47.3B KRW
FY24 42.6B KRW
FY25 24.6B KRW
Net income +42.8%/yr
FY21 518M KRW
FY22 1.8B KRW
FY23 6.8B KRW
FY24 9.5B KRW
FY25 2.2B KRW

453860 screens 38% overvalued. Compare with General Electric Company →

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Cite: Fair Value Calculator (2026). "ASTech Co Fair Value". https://www.fairvalue-calculator.com/stock/453860

Peer Group

Industrials · 5339 stocks

How this stock ranks against its sector: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median. (Industry “Aerospace & Defense” was too small, so the broader sector is used.)

Quality Score 25 · Bottom 25%
Fair Value upside −38% · Below median
Return on assets -2% · Bottom 25%
Net margin (TTM) -4% · Bottom 25%
Operating margin (TTM) -38% · Bottom 25%
Revenue growth -26% · Bottom 25%
Dividend yield (TTM) 5.2% · Top 25%
Debt / equity 0.46× · Higher than 75% of peers

Valuation Multiples vs Industrials median · lower = cheaper

EV/EBITDA 31.5× · Pricier 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 0 · sector 5
FUTURE 0 · sector 24
PAST 0 · sector 27
HEALTH 77 · sector 94
DIVIDEND 100 · sector 30

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

Insider activity: 40/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

Weapons Defense

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Aerospace & Defense stocks, each showing price versus our Fair Value estimate (as of Jul 22, 2026).

Stock Price Fair Value vs Fair Value
General Electric Company GE $381.22 $116.71 -69%
RTX Corporation RTX $195.93 $88.37 -55%
Airbus SE 1AIR €213.25 €86.20 -60%
The Boeing Company BA $217.11 $48.20 -78%
China CSSC Holdings 600150 ¥34.31 ¥21.90 -36%
HD Hyundai Heavy Industries Co 329180 466,000 KRW 272,966 KRW -41%
Hanwha Aerospace Co 012450 967,000 KRW 573,468 KRW -41%
ASELSAN Elektronik Sanayi ve Ticaret Anonim Sirketi ASELS 337.50 TRY 130.70 TRY -61%
Saab AB SAABB kr 520.40 kr 212.84 -59%
Kongsberg Gruppen ASA KOG kr 277.50 kr 106.93 -61%

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Frequently asked questions

Is ASTech Co (453860) overvalued or undervalued?
As of Jul 22, 2026, our model estimates a fair value of 5,705 KRW versus a price of 9,260 KRW, about −38% (overvalued).
What is the fair value of 453860?
Our model-based fair value for ASTech Co is 5,705 KRW (as of Jul 22, 2026), built from audited fundamentals. The current price is 9,260 KRW.
What is the quality score of 453860?
ASTech Co has a Quality Score of 25/100. 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 ASTech Co (453860)?
ASTech Co reported trailing-twelve-month revenue of about 22.9B KRW (latest available figure, as of Jul 22, 2026).
What is the net profit margin of 453860?
The net profit margin of ASTech Co is about -4.0%, meaning it is currently running at a net loss. Based on the latest reported figures.
Does ASTech Co pay a dividend?
ASTech Co currently shows a dividend yield of about 4.51% relative to its recent price (as of Jul 22, 2026).

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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