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NC Chem Corporation (482630) Fair Value & Analysis

Technology · KR · Market cap 271B KRW

NC NC Chem Corporation 482630 · KQ
Price14,900 KRW
Fair Value9,604 KRW
Upside-35.5%
Quality55/100
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Healthy Growth
Solidly profitable · 12.4% net margin
Low debt · generates free cash flow
Ranks above peers (8/9)
Moderate moat 58/100
Evidence: High Range 6,120 KRW – 12,175 KRW Share as image

Fair value as of: Jul 21, 2026

From 24 valuation models · updated 20 days ago

Share price +2.6% over the past month.

A solid business, but screening 36% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (12,175 KRW). The favourable scenario is already priced in.
  • Solid but not exceptional quality (55/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (6,120 KRW to 12,175 KRW) leaves room in how you read the outcome.
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Price vs Fair Value (18 months)

22,650 KRW 7,595 KRW Fair Value 9,604 KRW Feb 2025 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 21, 2026.

How to read this chart

18‑month range 7,595 KRW – 22,650 KRW · fair‑value band 6,120 KRW – 12,175 KRW · the 14,900 KRW price screens above the 9,604 KRW fair value. Dashed = 300-day average. As of Jul 21, 2026.

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Analysis

NC Chem Corporation (482630) currently trades at 14,900 KRW, while our model-based Fair Value estimate is 9,604 KRW, implying the stock looks roughly 35.5% overvalued today. The Quality Score stands at 55/100 (solid quality), in the Technology 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: high).

Over the trailing twelve months, NC Chem Corporation generated revenue of 135B KRW at a net margin of 12.4%. Revenue grew 32.9% year over year. It earns a return on equity of 14.5%. Net debt stands at 28.0B KRW. Fundamentals as of Jul 21, 2026

Our scenario range runs from 6,120 KRW (bear case) to 12,175 KRW (bull case); at 14,900 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 40% below its 52-week high and 100% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -75% fair-value upside, at -36%, 482630 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 9,660 KRW 16,916 KRW 29,940 KRW 80
Rev-Margin DCF 8,356 KRW 14,013 KRW 21,276 KRW 74
ROIC Compounder 7,513 KRW 10,294 KRW 14,298 KRW 72
All 24 models by family
DCF Models
FCF DCF 9,684 KRW 17,409 KRW 31,374 KRW 38
Owner Earnings 11,175 KRW 20,155 KRW 36,390 KRW 31
5Y Revenue Exit 8,356 KRW 14,141 KRW 21,953 KRW 39
5Y EBITDA Exit 13,049 KRW 23,764 KRW 37,257 KRW 41
5Y P/E Exit 12,466 KRW 22,569 KRW 34,132 KRW 38
10Y Revenue Exit 8,462 KRW 14,181 KRW 22,857 KRW 36
10Y EBITDA Exit 11,899 KRW 21,373 KRW 35,897 KRW 37
10Y P/E Exit 11,505 KRW 20,480 KRW 33,234 KRW 35
Earnings-Based
Graham-Dodd 4,629 KRW 21,047 KRW 28,871 KRW 54
Lynch FV 5,509 KRW 7,869 KRW 10,230 KRW 50
PEG = 1.0 5,509 KRW 7,869 KRW 10,230 KRW 46
EPV 6,874 KRW 7,997 KRW 8,995 KRW 59
Multiples
P/E Multiple 14,296 KRW 19,061 KRW 23,826 KRW 63
P/S Multiple 8,679 KRW 11,573 KRW 14,466 KRW 58
P/B Multiple 8,679 KRW 11,573 KRW 14,466 KRW 55
EV/EBIT 15,010 KRW 19,843 KRW 24,677 KRW 53
EV/EBITDA 15,719 KRW 20,788 KRW 25,858 KRW 54
EV/Revenue 7,841 KRW 10,982 KRW 14,124 KRW 43
Asset-Based
NCAV (Graham) 2,724 KRW 3,650 KRW 5,448 KRW 50
Growth DCF
Growth DCF 9,660 KRW 16,916 KRW 29,940 KRW 80
Rev-Margin DCF 8,356 KRW 14,013 KRW 21,276 KRW 74
Economic Profit
Residual Income 5,193 KRW 6,394 KRW 14,873 KRW 61
ROIC Compounder 7,513 KRW 10,294 KRW 14,298 KRW 72
Growth Earnings
Growth-Adj P/E 10,537 KRW 15,053 KRW 19,569 KRW 68

Widest divergence: DCF Models (20,155 KRW) versus Asset-Based (3,650 KRW). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 135B KRW
Revenue growth (YoY) +32.9%
Net margin 12.4%
Return on equity 14.5%
Free cash flow 14.9B KRW FY2025
Operating margin 16.0%
More key figures
EPS growth (YoY) -28.3%
Net debt 28.0B KRW FY2024

Figures from reported company fundamentals · as of Jul 21, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 55/100

Of which business quality 56 · Market factors (momentum, volatility) 41

Profitability 54
Margins and returns on capital today
Quality Growth 74
Are margins and returns improving?
Cashflow 59
Earnings quality: real cash, not paper profit
Fin. Strength 79
Balance sheet, leverage, solvency risk
Investment 60
Disciplined investing over empire-building
Low Volatility 0
Calm price path (market factor)
Momentum 51
Price trend over the last 3–12 months (market factor)
52W Momentum 71
Distance to the 52-week high (market factor)
Net Issuance 0
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

NC Chem Corporation produces and sells fine chemical materials for semiconductors in South Korea. It offers materials for photo process and semiconductor wet process. The company was founded in 2008 and is based in Hwaseong-si, South Korea. NC Chem Corporation is a subsidiary of Samyang Holdings Corporation.

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

Revenue & earnings trend

FY2022 – FY2025 · reported fiscal years

NC Chem Corporation reported revenue of 125B KRW in FY2025 versus 95.3B KRW in FY2022, a compound +9.6%/yr. Reported net income was 14.9B KRW in FY2025, compounding +157.8%/yr from FY2022.

Growth Quality 90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
125B KRW
Latest YoY
+13.5%
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.
+9.6%
Revenue +9.6%/yr
FY22 95.3B KRW
FY23 98.6B KRW
FY24 111B KRW
FY25 125B KRW
Net income +157.8%/yr
FY22 870M KRW
FY23 4.7B KRW
FY24 9.0B KRW
FY25 14.9B KRW

482630 screens 36% overvalued. Compare with ASML Holding →

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Cite: Fair Value Calculator (2026). "NC Chem Corporation Fair Value". https://www.fairvalue-calculator.com/stock/482630

Peer Group

Semiconductor Equipment & Materials · 212 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 55 · Below median
Fair Value upside −36% · Above median
Return on equity (TTM) 14% · Top 25%
Return on assets 8% · Top 25%
Net margin (TTM) 12% · Above median
Operating margin (TTM) 16% · Above median
Revenue growth 33% · Top 25%
Debt / equity 0.05× · Lower than median

Valuation Multiples vs Semiconductor Equipment & Materials 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 0 · sector 0
FUTURE 100 · sector 58
PAST 58 · sector 30
HEALTH 98 · sector 96
DIVIDEND 0 · sector 16

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

Insider activity: 45/100

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 Semiconductor Equipment & Materials stocks, each showing price versus our Fair Value estimate (as of Jul 21, 2026).

Stock Price Fair Value vs Fair Value
ASML Holding ASML C$50.50 C$15.57 -69%
Applied Materials, Inc AMAT $579.43 $143.08 -75%
Lam Research Corporation LRCX $346.10 $67.57 -80%
KLA Corporation KLAC $212.75 $53.01 -75%
NAURA Technology Group 002371 ¥774.20 ¥151.43 -80%
Advanced Micro-Fabrication Equipment Inc 688012 ¥350.69 ¥41.79 -88%
Piotech Inc 688072 ¥832.00 ¥431.44 -48%
Hon. Precision, Inc 7769 6,005 TWD 1,804 TWD -70%
Hangzhou Changchuan Technology Co 300604 ¥325.24 ¥33.33 -90%
MPI Corporation 6223 5,600 TWD 609.44 TWD -89%

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Frequently asked questions

Is NC Chem Corporation (482630) overvalued or undervalued?
As of Jul 21, 2026, our model estimates a fair value of 9,604 KRW versus a price of 14,900 KRW, about −36% (overvalued).
What is the fair value of 482630?
Our model-based fair value for NC Chem Corporation is 9,604 KRW (as of Jul 21, 2026), built from audited fundamentals. The current price is 14,900 KRW.
What is the quality score of 482630?
NC Chem Corporation 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 revenue of NC Chem Corporation (482630)?
NC Chem Corporation reported trailing-twelve-month revenue of about 135B KRW (latest available figure, as of Jul 21, 2026).
What is the net profit margin of 482630?
The net profit margin of NC Chem Corporation is about 12.4%, meaning it keeps roughly 12.4% 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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