Kyowa Kirin Co., Ltd. (KYKOY) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Kyowa Kirin Co., Ltd. $13.64, price $14.30, upside -4.6%, quality 58 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 28, 2026.
How to read this chart
36‑month range $12.77 – $18.85 · fair‑value band $9.55 – $17.73 · the $14.30 price screens above the $13.64 fair value. Dashed = 300-day average. As of Sep 28, 2026.
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Kyowa Kirin Co., Ltd. engages in the research, development, manufacturing, and marketing of pharmaceuticals in Japan, the Americas, Europe, Asia, and internationally.
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Kyowa Kirin Co., Ltd. engages in the research, development, manufacturing, and marketing of pharmaceuticals in Japan, the Americas, Europe, Asia, and internationally. The company offers Ziftomenib, an oral menin inhibitor for the treatment of adult relapsed or refractory and acute myeloid leukemia with a nucelophosmin1 mutation; and Lumicef for the treatment of palmoplantar pustulosis. It also develops KHK4083/AMG 451 rocatinlimab, which is in Phase III clinical trial for the treatment of moderate to severe atopic dermatitis and prurigo nodularis; KK8398 infigratinib, which is in Phase III clinical trial for the treatment of achondroplasia; OTL-203, which is in Phase III clinical trial for the treatment of hurler syndrome; KHK4951 tivozanib, which is in Phase II clinical trial for the treatment of diabetic macular edema and neovascular age-related macular degeneration; and OTL-201, which is in Phase II clinical trial for the treatment of sanfilippo syndrome type A. In addition, the company is involved in the development of KK2260 and KK2269, which are both in Phase I clinical trials for the treatment of advanced or metastatic solid tumors; KK2845, which is in Phase I clinical trial for the treatment of acute myeloid leukemia; KK3910, which is in Phase I clinical trial for the treatment of essential hypertension; KK4277, which is in Phase I clinical trial for the treatment of systemic/cutaneous lupus erythematosus; and KK8123, which is in Phase I clinical trial for the treatment of X-linked hypophosphatemia. It has a partnership with La Jolla Institute for Immunology for research in disease areas; AstraZeneca for severe asthma treatment; and AMGEN for therapeutic drugs development. The company was formerly known as Kyowa Hakko Kirin Co., Ltd. and changed its name to Kyowa Kirin Co., Ltd. in July 2019. Kyowa Kirin Co., Ltd. was incorporated in 1949 and is headquartered in Chiyoda, Japan. The company operates as a subsidiary of Kirin Holdings Company, Limited.
Stock analysis
Kyowa Kirin Co., Ltd. (KYKOY) currently trades at $14.30, while our model-based Fair Value estimate is $13.64, so the stock looks roughly fairly valued today (gap 4.8%).
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Valuation
Bull case: the Multiples group reads highest at a median of $17.85 per share, and 11 of the 26 models we run sit above the $14.30 price.
Bear case: the Growth DCF group reads lowest at $4.48, and 15 of the 26 models stay below the price. Evidence for this calculation is high.
Scenario range: $9.55 (bear) to $17.73 (bull), the price of $14.30 sits inside 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 58/100 (solid quality), in the Healthcare sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Kyowa Kirin Co., Ltd. reported revenue of ¥497B in FY2025 versus ¥352B in FY2021, a compound +9.0%/yr. Reported net income was ¥67.0B in FY2025, compounding +6.4%/yr from FY2021.
Key figures
Market cap $7.5B · P/E ratio 17.9 · P/S ratio 2.41 · EPS (TTM) $0.8000 · Dividend yield 2.6% · Net margin 13.5% · Return on equity 8.5% · Return on assets (EBIT) 8.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (medium confidence).
What moves the price
The share trades about 21% below its 52-week high and 2% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at −19% fair-value upside, at −5%, KYKOY screens cheaper than that median.
Fair Value models
Bear $9.55Fair Value $13.64Bull $17.73
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.
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.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+0.3%
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.
+7.6%
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.
+9.3%
Start year 2020 (pandemic)
’20
’21
’22
’23
’24
’25
What shareholders gained per year (last 5 years), in JPY ⓘ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 JPY: 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.
+9.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year+6.7%
Dividend (yield on the price)2.6%
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.19% → 21%
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
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).
+48.8%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+2.8%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in JPY, Japan: IMF forecast 2.1% a year to 2030, 1.3% from 2016 to 2025) that is about +45.7% a year for the price and +0.7% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (95 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Positive
Recent news coverage is more positive than average.
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.Drug Manufacturers - Specialty & Generic · 569 stocks
Beats the industry median on 11/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score58 · Above median
Fair Value upside−2.4% · Above median
Profitability
Return on equity (TTM)8.5% · Above median
Return on assets6.6% · Top 25%
Net margin (TTM)14.3% · Above median
Operating margin (TTM)14.6% · Above median
Growth and dividend
Revenue growth13.1% · Above median
Dividend yield (TTM)2.6% · Above median
Valuation Multiplesvs Drug Manufacturers - Specialty & Generic median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Kyowa Kirin Co., Ltd. Fair Value". https://www.fairvalue-calculator.com/stock/KYKOY
Frequently asked questions
Is Kyowa Kirin Co., Ltd. (KYKOY) overvalued or undervalued?
As of Sep 28, 2026, our model estimates a fair value of $13.64 versus a price of $14.30, about −5% upside (fairly valued).
What is the fair value of KYKOY?
Our model-based fair value for Kyowa Kirin Co., Ltd. is $13.64 (as of Sep 28, 2026), built from audited fundamentals. The current price: $14.30.
What is the quality score of KYKOY?
Kyowa Kirin Co., Ltd. has a Quality Score of 58/100. 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 Kyowa Kirin Co., Ltd. (KYKOY)?
Our model-based price target is the fair value of $13.64 (as of Sep 28, 2026) from 26 valuation models. Cautious scenario $9.55, optimistic scenario $17.73. It is a calculation from audited fundamentals, not an analyst target.
What is the Kyowa Kirin Co., Ltd. stock forecast for 2026?
Our models put fair value at $13.64, about −5% upside versus a price of $14.30 (fairly valued). Cautious scenario $9.55, optimistic scenario $17.73. The calculation is refreshed regularly with new filings.
What is the revenue of Kyowa Kirin Co., Ltd. (KYKOY)?
Kyowa Kirin Co., Ltd. reported trailing-twelve-month revenue of about ¥511B (latest available figure, as of Sep 28, 2026).
Does Kyowa Kirin Co., Ltd. pay a dividend?
Kyowa Kirin Co., Ltd. currently shows a dividend yield of about 2.59% relative to its recent price (as of Sep 28, 2026).
What growth is priced into Kyowa Kirin Co., Ltd. (KYKOY)?
For today's price to be fair in a discounted-cash-flow model, Kyowa Kirin Co., Ltd. would have to grow free cash flow by +48.8 % per year for five years (discount rate 8.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +9.3 % per year. As of Sep 28, 2026.
What discount rate (WACC) does the fair value of KYKOY use?
Our models discount Kyowa Kirin Co., Ltd. at 8.5 %: a base by market capitalisation (mid), damped by beta 0.11, country premium for USA. 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 Kyowa Kirin Co., Ltd. that is +48.8 % per year a year over ten years, using the same discount rate (8.5 %) and the same formula as our fair value.
How much growth has Kyowa Kirin Co., Ltd. (KYKOY) delivered so far?
Over the past 5 years revenue at Kyowa Kirin Co., Ltd. grew +9.3 % a year. The price currently implies +48.8 % 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 Kyowa Kirin Co., Ltd. (KYKOY) growing?
The median revenue growth in the sector is +1.7 % a year. That is the yardstick for the growth priced into Kyowa Kirin Co., Ltd. (+48.8 % 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 Kyowa Kirin Co., Ltd. (KYKOY)?
The free-cash-flow yield on the price is 0.46 %: that much free cash flow Kyowa Kirin Co., Ltd. produces per unit of market value. When it exceeds the discount rate of our models (8.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Kyowa Kirin Co., Ltd. (KYKOY)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Kyowa Kirin Co., Ltd. it is $13.64 per share (as of Sep 28, 2026), against a price of $14.30. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Kyowa Kirin Co., Ltd. stock overvalued or undervalued in 2026?
As of Sep 28, 2026, KYKOY trades above its calculated fair value: price $14.30, fair value $13.64, a gap of about −5% (fairly valued). 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 KYKOY?
No. The price is what the market pays today ($14.30); the fair value is what the company's own numbers justify ($13.64). For Kyowa Kirin Co., Ltd. the two are $0.6600 per share apart. That gap is exactly why we show both numbers side by side.
How much is Kyowa Kirin Co., Ltd. worth?
The market values Kyowa Kirin Co., Ltd. at about $7.5B (market capitalisation, as of Sep 28, 2026). Per share that is $14.30; our models calculate a fair value of $13.64 per share.
What do the bullish and bearish scenarios say about KYKOY?
Our models span a range for Kyowa Kirin Co., Ltd.: cautious scenario $9.55, base $13.64, optimistic $17.73 per share (as of Sep 28, 2026, price $14.30). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of KYKOY?
Kyowa Kirin Co., Ltd. trades at a price-to-earnings ratio of 17.9 (as of Sep 28, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $13.64 is built from several models across several years. Other multiples: PEG 4.8, P/B 1.4, P/S 2.4, EV/EBITDA 7.3.
What is the PEG ratio of KYKOY?
The PEG ratio of Kyowa Kirin Co., Ltd. is 4.83 (P/E divided by earnings growth, as of Sep 28, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Kyowa Kirin Co., Ltd. (KYKOY)?
Balance-sheet figures for Kyowa Kirin Co., Ltd. (as of Sep 28, 2026): return on equity 8.5%. They feed the Quality Score of 58/100, which measures business quality independently of the share price.
How far is KYKOY from its 52-week high?
Kyowa Kirin Co., Ltd. trades at $14.30, about 21% below its 52-week high of $18.15 and 2% above the low of $13.97 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of $13.64 is for.
Which stocks are comparable to Kyowa Kirin Co., Ltd.?
From the same area (Healthcare) we also value Merck KGaA, Takeda Pharmaceutical Company, Teva Pharmaceutical Industries Limited, 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 Kyowa Kirin Co., Ltd. stock attractive at the current price?
The data as of Sep 28, 2026: price $14.30, calculated fair value $13.64 (−5%), Quality Score 58/100, from 26 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 KYKOY calculated?
We run Kyowa Kirin Co., Ltd. through 26 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 $13.64, 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. Kyowa Kirin 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 Kyowa Kirin Co., Ltd. (KYKOY)?
The closing price on Oct 2, 2026 was $14.30. Our model-based fair value is $13.64, about −5% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Kyowa Kirin Co., Ltd. right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range ($9.55 to $17.73) leaves room in how you read the outcome.
Key figures of Kyowa Kirin Co., Ltd.
How large is the market capitalisation of Kyowa Kirin Co., Ltd. (KYKOY)?
The market capitalisation of Kyowa Kirin Co., Ltd. is $7.5B. 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 Kyowa Kirin Co., Ltd. (KYKOY)?
The price-to-sales ratio of Kyowa Kirin Co., Ltd. is 2.41 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Kyowa Kirin Co., Ltd. (KYKOY)?
Earnings per share at Kyowa Kirin Co., Ltd. are $0.8000 (price ÷ EPS = P/E 17.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Kyowa Kirin Co., Ltd. (KYKOY)?
The dividend yield of Kyowa Kirin Co., Ltd. is 2.6% (payout 46.3%). 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 Kyowa Kirin Co., Ltd. (KYKOY)?
The net margin of Kyowa Kirin Co., Ltd. is 13.5% (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 Kyowa Kirin Co., Ltd. (KYKOY)?
The return on equity (ROE) of Kyowa Kirin Co., Ltd. is 8.5% (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 Kyowa Kirin Co., Ltd. (KYKOY)?
On an EBIT basis the return on assets of Kyowa Kirin Co., Ltd. is 8.5% (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 Kyowa Kirin Co., Ltd. (KYKOY)?
The operating margin of Kyowa Kirin Co., Ltd. is 14.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Kyowa Kirin Co., Ltd. (KYKOY)?
Revenue at Kyowa Kirin Co., Ltd. is growing +13.1% versus a year earlier (3y avg +7.6%). 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 Kyowa Kirin Co., Ltd. (KYKOY)?
Earnings per share at Kyowa Kirin Co., Ltd. are growing +95.1% versus a year earlier. How much earnings per share grew versus a year earlier.
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Broad data
Sep 28, 2026