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Wonik Ips Co. Ltd (240810) Fair Value & Analysis

Technology · KR · Market cap 6.8T KRW (≈ $4.8B) · ISIN KR7240810002

What is Wonik Ips Co. Ltd really worth?

WI Wonik Ips Co. Ltd 240810 · KQ
Price114,800 KRW
Fair Value36,380 KRW
Upside−68.3%
Quality78/100

A strong business, but trading 216% above our fair value of 36,380 KRW.

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Strengths

Solidly profitable · 11.7% net margin
Low debt · generates free cash flow
Ranks above peers (7/10)

Risks

!Weak Growth (revenue 5y −3.6 %/yr)
!Moderate moat 48/100
!Evidence only medium, so the estimate is less certain
!Weak on dividend: 3 out of 100

For context

·0.17% dividend yield
Evidence: Medium Range 27,277 KRW – 45,482 KRW

Fair value as of: Aug 14, 2026

From 26 valuation models · updated 22 days ago

Fair value updated Aug 14, 2026, revised from 29,359 KRW to 36,380 KRW (+23.9%) since Jul 18, 2026. Share price +17.5% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • A high-quality business (quality 78/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
  • The price sits above even our optimistic bull case (45,482 KRW). The favourable scenario is already priced in.

Price vs Fair Value (5 years)

183,300 KRW 20,888 KRW Fair Value 36,380 KRW Apr 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 14, 2026.

How to read this chart

60‑month range 20,888 KRW – 183,300 KRW · fair‑value band 27,277 KRW – 45,482 KRW · the 114,800 KRW price screens above the 36,380 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 14, 2026.

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Analysis

Wonik Ips Co. Ltd (240810) currently trades at 114,800 KRW, while our model-based Fair Value estimate is 36,380 KRW, implying the stock looks roughly 215.6% overvalued today. The Quality Score stands at 78/100 (high quality), in the Technology sector. Bull case: the DCF Models group reads highest at a median of 54,446 KRW per share, and 0 of the 26 models we run sit above the 114,800 KRW price. Bear case: the Economic Profit group reads lowest at 13,007 KRW, and 26 of the 26 models stay below the price. Evidence for this calculation is medium.

Over the trailing twelve months, Wonik Ips Co. Ltd generated revenue of 950B KRW at a net margin of 11.7%. Revenue grew 32.8% year over year. It earns a return on equity of 11.9%. Net debt stands at 1.5B KRW. Fundamentals as of Aug 14, 2026

Our scenario range runs from 27,277 KRW (bear case) to 45,482 KRW (bull case); at 114,800 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 24% below its 52-week high and 385% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at −71% fair-value upside, at −68%, 240810 screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

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
FCF DCF 36,330 KRW 63,987 KRW 113,279 KRW 77
Growth DCF 36,339 KRW 62,595 KRW 109,238 KRW 76
Residual Income 17,092 KRW 18,685 KRW 27,729 KRW 76
All 26 models by family
DCF Models
FCF DCF 36,330 KRW 63,987 KRW 113,279 KRW 77
Owner Earnings 27,278 KRW 47,599 KRW 83,816 KRW 74
5Y Revenue Exit 22,205 KRW 33,700 KRW 48,650 KRW 72
5Y EBITDA Exit 32,742 KRW 55,073 KRW 82,621 KRW 74
5Y P/E Exit 35,791 KRW 61,258 KRW 89,952 KRW 70
10Y Revenue Exit 26,087 KRW 38,569 KRW 56,442 KRW 66
10Y EBITDA Exit 33,670 KRW 54,446 KRW 85,087 KRW 67
10Y P/E Exit 35,724 KRW 59,040 KRW 91,269 KRW 63
Earnings-Based
Graham-Dodd 11,744 KRW 51,368 KRW 70,281 KRW 64
Lynch FV 13,250 KRW 18,928 KRW 24,606 KRW 61
PEG = 1.0 13,250 KRW 18,928 KRW 24,606 KRW 57
EPV 11,387 KRW 13,007 KRW 14,447 KRW 74
Dividend Discount
Gordon GGM 480.95 KRW 1,050 KRW 1,767 KRW 65
DDM Multi-Stage 480.95 KRW 860.12 KRW 1,094 KRW 66
Multiples
P/E Multiple 36,267 KRW 48,356 KRW 60,445 KRW 63
P/S Multiple 22,019 KRW 29,359 KRW 36,699 KRW 58
P/B Multiple 22,019 KRW 29,359 KRW 36,699 KRW 55
EV/EBIT 29,512 KRW 38,614 KRW 47,717 KRW 66
EV/EBITDA 33,652 KRW 44,135 KRW 54,617 KRW 67
EV/Revenue 16,010 KRW 21,927 KRW 27,843 KRW 54
Asset-Based
NCAV (Graham) 9,968 KRW 13,357 KRW 19,936 KRW 54
Growth DCF
Growth DCF 36,339 KRW 62,595 KRW 109,238 KRW 76
Rev-Margin DCF 22,205 KRW 33,766 KRW 48,498 KRW 72
Economic Profit
Residual Income 17,092 KRW 18,685 KRW 27,729 KRW 76
ROIC Compounder 11,387 KRW 13,007 KRW 14,447 KRW 72
Growth Earnings
Growth-Adj P/E 26,047 KRW 37,210 KRW 48,374 KRW 67

Widest divergence: DCF Models (54,446 KRW) versus Dividend Discount (860.12 KRW). Highest evidence: FCF DCF (77).

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Key figures & financial health

P/S ratio 6.79 TTM
Dividend yield 0.2%
Net margin 9.2% FY2025
Return on equity 11.9% TTM
Return on assets (EBIT) 5.3% avg 5y
Operating margin 6.5% TTM
More key figures
Growth
Revenue (TTM) 950B KRW TTM
Revenue growth (YoY) +32.8% 3y avg −3.5%
EPS growth (YoY) +19.2%
Balance sheet & cash flow
Free cash flow 125B KRW FY2025
Net debt 1.5B KRW FY2019 · ≈ 0.0 yrs of FCF

Figures from reported company fundamentals · as of Aug 14, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 78/100

Of which business quality 76 · Market factors (momentum, volatility) 54

Profitability 50
Margins and returns on capital today
Quality Growth 92
Are margins and returns improving?
Cashflow 73
Earnings quality: real cash, not paper profit
Fin. Strength 86
Balance sheet, leverage, solvency risk
Investment 89
Disciplined investing over empire-building
Low Volatility 16
Calm price path (market factor)
Momentum 66
Price trend over the last 3–12 months (market factor)
52W Momentum 77
Distance to the 52-week high (market factor)
Net Issuance 79
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Wonik IPS Co., Ltd. researches and develops, manufactures, sells, and installs semiconductor, display, and solar cell systems in South Korea.

Full company description

Wonik IPS Co., Ltd. researches and develops, manufactures, sells, and installs semiconductor, display, and solar cell systems in South Korea. The company offers semiconductor systems, including WIDAS for enhancing process capacity; NOA ALD and CVD systems; GEMINI HQ system to produce dielectric films; GEMINI ALD systems for multi-patterning applications; HyEtaTM Spatial ALD systems for conformal films and seamless gap-fills; and Quanta systems for 3D NAND device fabrication. It also provides display systems, such as oxide thin-film transistor equipment, polyimide curing equipment, and low temperature polycrystalline silicon equipment; PECVD, which is used to prevent moisture penetration of flexible OLED devices; and display dry etcher, a core processing equipment to form a desired pattern on substrate in manufacturing QD-OLED, AMOLED, and large-size LCD panels, as well as for OLED and LCD panel production in high-resolution AM-OLED/LTPS market. Wonik IPS Co., Ltd. was founded in 1991 and is headquartered in Pyeongtaek-Si, South Korea..

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Wonik Ips Co. Ltd reported revenue of 910B KRW in FY2025 versus 1.2T KRW in FY2021, a compound −7.3%/yr. Reported net income was 84.0B KRW in FY2025, compounding −12.8%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
910B KRW
Latest YoY
+21.6%
Avg. revenue 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.
−3.5%
Avg. revenue growth/yr (5Y) 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.
−3.6%
Avg. revenue growth/yr (19Y) 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.
+11.3%
Value creation/yr (5Y, in KRW) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year. 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.
−3.0% (−3.2 + 0.2)
Revenue −7.3%/yr
FY21 1.2T KRW
FY22 1.0T KRW
FY23 690B KRW
FY24 748B KRW
FY25 910B KRW
Net income −12.8%/yr
FY21 145B KRW
FY22 89.4B KRW
FY23 −13.5B KRW
FY24 20.7B KRW
FY25 84.0B KRW

240810 screens 216% overvalued. Compare with ASML Holding →

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Cite: Fair Value Calculator (2026). "Wonik Ips Co. Ltd Fair Value". https://www.fairvalue-calculator.com/stock/240810

Peer Group

Semiconductor Equipment & Materials · 213 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 78 · Top 25%
Fair Value upside −68% · Below median
Return on equity (TTM) 12% · Above median
Return on assets 5% · Above median
Net margin (TTM) 12% · Above median
Operating margin (TTM) 7% · Below median
Revenue growth 33% · Top 25%
Dividend yield (TTM) 0.2% · Bottom 25%

Valuation Multiples vs Semiconductor Equipment & Materials median · lower = cheaper

P/FCF 0.0× · Cheaper than 75% of peers

Strength profile in five axes (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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 0
FUTURE100 · sector 59
PAST48 · sector 30
HEALTH100 · sector 96
DIVIDEND3 · sector 17

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

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

Similar stocks

10 more Semiconductor Equipment & Materials stocks, each showing price versus our Fair Value estimate (as of Aug 14, 2026).

Stock Price Fair Value vs Fair Value
ASML Holding ASML €1,494 €604.27 −60%
Applied Materials, Inc AMAT $482.36 $183.10 −62%
Lam Research Corporation LRCX $301.90 $91.80 −70%
KLA Corporation KLAC $175.54 $74.58 −58%
NAURA Technology Group 002371 ¥707.90 ¥205.30 −71%
Teradyne, Inc TER $354.97 $65.80 −81%
Advanced Micro-Fabrication Equipment Inc 688012 ¥380.95 ¥55.05 −86%
Piotech Inc 688072 ¥685.11 ¥89.27 −87%
Hon. Precision, Inc 7769 6,445 TWD 1,804 TWD −72%
Hangzhou Changchuan Technology Co 300604 ¥284.80 ¥46.26 −84%

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Frequently asked questions

Is Wonik Ips Co. Ltd (240810) overvalued or undervalued?
As of Aug 14, 2026, our model estimates a fair value of 36,380 KRW versus a price of 114,800 KRW, about −68% upside (overvalued).
What is the fair value of 240810?
Our model-based fair value for Wonik Ips Co. Ltd is 36,380 KRW (as of Aug 14, 2026), built from audited fundamentals. The current price: 114,800 KRW.
What is the quality score of 240810?
Wonik Ips Co. Ltd has a Quality Score of 78/100. 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 Wonik Ips Co. Ltd (240810)?
Wonik Ips Co. Ltd reported trailing-twelve-month revenue of about 950B KRW (latest available figure, as of Aug 14, 2026).
What is the net profit margin of 240810?
The net profit margin of Wonik Ips Co. Ltd is about 11.7%, meaning it keeps roughly 11.7% of revenue as net income. Based on the latest reported figures.
Does Wonik Ips Co. Ltd pay a dividend?
Wonik Ips Co. Ltd currently shows a dividend yield of about 0.17% relative to its recent price (as of Aug 14, 2026).
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