KYORIN Pharmaceutical Co., Ltd. (KYRNF) fair value: what the stock is really worth
As of Sep 18, 2026: fair value of KYORIN Pharmaceutical Co., Ltd. $11.34, price $10.31, upside +10.0%, quality 52 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 $8.87 – $16.95 · fair‑value band $8.40 – $12.59 · the $10.31 price screens below the $11.34 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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KYORIN Pharmaceutical Co., Ltd., through its subsidiaries, researches and develops, manufactures, and sells ethical and generic drugs in Japan and internationally.
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KYORIN Pharmaceutical Co., Ltd., through its subsidiaries, researches and develops, manufactures, and sells ethical and generic drugs in Japan and internationally. The company offers Flutiform, a drug for the treatment of asthma; Lyfuna for cough treatment; Desalex, an antiallergic agent; Beova, and Uritos KYORIN therapeutic agents for overactive bladder; Lasvic, a quinolone synthetic antibacterial agent; Pentasa, a remedy for ulcerative colitis/Crohn's disease; Nasonex and Mometasone KYORIN, which are used as allergic rhinitis therapeutic agents; and Kipres, a leukotriene receptor antagonist anti-bronchial asthma and allergic rhinitis drug. It also provides Mucodyne, a mucoregulating drug; GeneSoC, a real-time PCR system; Rubysta, a disinfectant cleaner; Milton, a disinfectant; over-the-counter drugs; and prescription medicines and quasi-drugs, and diagnostics business. In addition, the company offers subcontracted drug manufacturing services. It has development and commercialization agreement with Hyfe Inc. for digital therapeutics (DTx) for chronic cough. The company was formerly known as KYORIN Holdings, Inc. KYORIN Pharmaceutical Co., Ltd. was founded in 1923 and is headquartered in Tokyo, Japan.
Stock analysis
KYORIN Pharmaceutical Co., Ltd. (KYRNF) currently trades at $10.31, while our model-based Fair Value estimate is $11.34, implying the stock looks roughly 9.1% undervalued today.
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Valuation
Bull case: the Asset-Based group reads highest at a median of $15.10 per share, and 5 of the 23 models we run sit above the $10.31 price.
Bear case: the Earnings-Based group reads lowest at $2.69, and 18 of the 23 models stay below the price. Evidence for this calculation is medium.
Scenario range: $8.40 (bear) to $12.59 (bull), the price of $10.31 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 52/100 (solid quality), in the Healthcare sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
KYORIN Pharmaceutical Co., Ltd. reported revenue of ¥126B in FY2026 versus ¥106B in FY2022, a compound +4.6%/yr. Reported net income was ¥3.4B in FY2026, compounding −3.2%/yr from FY2022.
Key figures
Market cap $592M · P/E ratio 27.9 · P/S ratio 0.76 · EPS (TTM) $0.3700 · Net margin 2.7% · Return on equity 2.5% · Return on assets (EBIT) 3.5% · Operating margin −3.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (medium confidence).
What moves the price
The share trades at its 52-week high and 3% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at −8% fair-value upside, at 10%, KYRNF screens cheaper than that median.
Fair Value models
Bear $8.40Fair Value $11.34Bull $12.59
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. Based on fiscal year 2026 figures (about 6 months old). Earnings retained since then ($0.1794 per share) are deliberately not added.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.56/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−2.9%
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.
+3.7%
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.
+4.2%
Start year 2021 (pandemic)
’21
’22
’23
’24
’25
’26
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.
−7.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year−7.3%
Dividend (yield on the price)0.0%
Profit margin 2021 to 2026 ⓘ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.6% → 3%
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).
+28.7%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (figures in JPY, Japan: IMF forecast 2.1% a year to 2030, 1.3% from 2016 to 2025) that is about +26.0% a year for the price.
Compare KYORIN Pharmaceutical Co., Ltd. with another stock
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 · 626 stocks
Beats the industry median on 4/13 measures
Overall it trails its industry peers.
Valuation
Quality Score52 · Below median
Fair Value upside+10% · Above median
Profitability
Return on equity (TTM)2% · Below median
Return on assets1% · Below median
Net margin (TTM)3% · Below median
Operating margin (TTM)−3% · Bottom 25%
Growth and dividend
Revenue growth−17% · Bottom 25%
Balance sheet
Debt / equity0.14× · Above median
Valuation Multiplesvs Drug Manufacturers - Specialty & Generic median · lower = cheaper
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Is KYORIN Pharmaceutical Co., Ltd. (KYRNF) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of $11.34 versus a price of $10.31, about +10% upside (undervalued).
What is the fair value of KYRNF?
Our model-based fair value for KYORIN Pharmaceutical Co., Ltd. is $11.34 (as of Sep 24, 2026), built from audited fundamentals. The current price: $10.31.
What is the quality score of KYRNF?
KYORIN Pharmaceutical Co., Ltd. has a Quality Score of 52/100. 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 KYORIN Pharmaceutical Co., Ltd. (KYRNF)?
Our model-based price target is the fair value of $11.34 (as of Sep 24, 2026) from 23 valuation models. Cautious scenario $8.40, optimistic scenario $12.59. It is a calculation from audited fundamentals, not an analyst target.
What is the KYORIN Pharmaceutical Co., Ltd. stock forecast for 2026?
Our models put fair value at $11.34, about +10% upside versus a price of $10.31 (undervalued). Cautious scenario $8.40, optimistic scenario $12.59. The calculation is refreshed regularly with new filings.
What is the revenue of KYORIN Pharmaceutical Co., Ltd. (KYRNF)?
KYORIN Pharmaceutical Co., Ltd. reported trailing-twelve-month revenue of about ¥126B (latest available figure, as of Sep 24, 2026).
What growth is priced into KYORIN Pharmaceutical Co., Ltd. (KYRNF)?
For today's price to be fair in a discounted-cash-flow model, KYORIN Pharmaceutical Co., Ltd. would have to grow free cash flow by +28.7 % per year for five years (discount rate 11.2 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +4.2 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of KYRNF use?
Our models discount KYORIN Pharmaceutical Co., Ltd. at 11.2 %: a base by market capitalisation (small), 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 KYORIN Pharmaceutical Co., Ltd. that is +28.7 % per year a year over ten years, using the same discount rate (11.2 %) and the same formula as our fair value.
How much growth has KYORIN Pharmaceutical Co., Ltd. (KYRNF) delivered so far?
Over the past 5 years revenue at KYORIN Pharmaceutical Co., Ltd. grew +4.2 % a year. The price currently implies +28.7 % 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 KYORIN Pharmaceutical Co., Ltd. (KYRNF) growing?
The median revenue growth in the sector is +0.0 % a year. That is the yardstick for the growth priced into KYORIN Pharmaceutical Co., Ltd. (+28.7 % 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 KYORIN Pharmaceutical Co., Ltd. (KYRNF)?
The free-cash-flow yield on the price is 2.56 %: that much free cash flow KYORIN Pharmaceutical Co., Ltd. produces per unit of market value. When it exceeds the discount rate of our models (11.2 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of KYORIN Pharmaceutical Co., Ltd. (KYRNF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For KYORIN Pharmaceutical Co., Ltd. it is $11.34 per share (as of Sep 24, 2026), against a price of $10.31. It is the blended result of 23 valuation models (cash flow, earnings, asset, dividend).
Is KYORIN Pharmaceutical Co., Ltd. stock overvalued or undervalued in 2026?
As of Sep 24, 2026, KYRNF trades below its calculated fair value: price $10.31, fair value $11.34, a gap of about +10% (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 KYRNF?
No. The price is what the market pays today ($10.31); the fair value is what the company's own numbers justify ($11.34). For KYORIN Pharmaceutical Co., Ltd. the two are $1.03 per share apart. That gap is exactly why we show both numbers side by side.
How much is KYORIN Pharmaceutical Co., Ltd. worth?
The market values KYORIN Pharmaceutical Co., Ltd. at about $592M (market capitalisation, as of Sep 24, 2026). Per share that is $10.31; our models calculate a fair value of $11.34 per share.
What do the bullish and bearish scenarios say about KYRNF?
Our models span a range for KYORIN Pharmaceutical Co., Ltd.: cautious scenario $8.40, base $11.34, optimistic $12.59 per share (as of Sep 24, 2026, price $10.31). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of KYRNF?
KYORIN Pharmaceutical Co., Ltd. trades at a price-to-earnings ratio of 27.9 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $11.34 is built from several models across several years. Other multiples: P/B 0.7, P/S 0.7, EV/EBITDA 12.6.
How solid is the balance sheet of KYORIN Pharmaceutical Co., Ltd. (KYRNF)?
Balance-sheet figures for KYORIN Pharmaceutical Co., Ltd. (as of Sep 24, 2026): return on equity 2.5%, debt of 0.14 per unit of equity. They feed the Quality Score of 52/100, which measures business quality independently of the share price.
How far is KYRNF from its 52-week high?
KYORIN Pharmaceutical Co., Ltd. trades at $10.31, at its 52-week high of $10.31 and 3% above the low of $9.98 (as of Sep 18, 2026). Distance from the high says nothing about value: that is what the fair value of $11.34 is for.
Which stocks are comparable to KYORIN Pharmaceutical Co., Ltd.?
From the same area (Healthcare) we also value Merck KGaA, Takeda Pharmaceutical Company, Jiangsu Hengrui Pharmaceuticals Co, 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 KYORIN Pharmaceutical Co., Ltd. stock attractive at the current price?
The data as of Sep 24, 2026: price $10.31, calculated fair value $11.34 (+10%), Quality Score 52/100, from 23 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 KYRNF calculated?
We run KYORIN Pharmaceutical Co., Ltd. through 23 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 $11.34, 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 14.1 % above its aggregate fair value. KYORIN Pharmaceutical Co., Ltd. currently trades 10 % 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 KYORIN Pharmaceutical Co., Ltd. (KYRNF)?
The closing price on Sep 18, 2026 was $10.31. Our model-based fair value is $11.34, about +10% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with KYORIN Pharmaceutical Co., Ltd. right now?
The price sits in the lower half of our model range, the side with the larger margin of safety. Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.
Key figures of KYORIN Pharmaceutical Co., Ltd.
How large is the market capitalisation of KYORIN Pharmaceutical Co., Ltd. (KYRNF)?
The market capitalisation of KYORIN Pharmaceutical Co., Ltd. is $592M. 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 KYORIN Pharmaceutical Co., Ltd. (KYRNF)?
The price-to-sales ratio of KYORIN Pharmaceutical Co., Ltd. is 0.76 (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 KYORIN Pharmaceutical Co., Ltd. (KYRNF)?
Earnings per share at KYORIN Pharmaceutical Co., Ltd. are $0.3700 (price ÷ EPS = P/E 27.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of KYORIN Pharmaceutical Co., Ltd. (KYRNF)?
The net margin of KYORIN Pharmaceutical Co., Ltd. is 2.7% (fiscal year 2026). 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 KYORIN Pharmaceutical Co., Ltd. (KYRNF)?
The return on equity (ROE) of KYORIN Pharmaceutical Co., Ltd. is 2.5% (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 KYORIN Pharmaceutical Co., Ltd. (KYRNF)?
On an EBIT basis the return on assets of KYORIN Pharmaceutical Co., Ltd. is 3.5% (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 KYORIN Pharmaceutical Co., Ltd. (KYRNF)?
The operating margin of KYORIN Pharmaceutical Co., Ltd. is −3.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at KYORIN Pharmaceutical Co., Ltd. (KYRNF)?
Revenue at KYORIN Pharmaceutical Co., Ltd. is growing −17.2% versus a year earlier (3y avg +3.7%). 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 KYORIN Pharmaceutical Co., Ltd. (KYRNF)?
Earnings per share at KYORIN Pharmaceutical Co., Ltd. are growing +122% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does KYORIN Pharmaceutical Co., Ltd. (KYRNF) carry?
The net debt of KYORIN Pharmaceutical Co., Ltd. is ¥11.5B (fiscal year 2026, ≈ 4.8 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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Some data
Sep 24, 2026