KH Neochem Co., Ltd.

TSE:4189 Stock Report

Market Cap: JP¥75.8b

KH Neochem Valuation

Is 4189 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

6/6

Valuation Score 6/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 4189 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 4189 (¥2047) is trading below our estimate of fair value (¥5460.7)

Significantly Below Fair Value: 4189 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 4189?

Key metric: As 4189 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 4189. This is calculated by dividing 4189's market cap by their current earnings.
What is 4189's PE Ratio?
PE Ratio10.7x
EarningsJP¥7.08b
Market CapJP¥75.76b

Price to Earnings Ratio vs Peers

How does 4189's PE Ratio compare to its peers?

The above table shows the PE ratio for 4189 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average46.2x
7917 ZACROS
16x15.4%JP¥75.2b
3101 Toyobo
148.1x39.9%JP¥82.6b
4956 Konishi
12.5x5.2%JP¥90.9b
4216 Asahi Yukizai
8.3x10.3%JP¥80.7b
4189 KH Neochem
10.7x14.3%JP¥75.8b

Price-To-Earnings vs Peers: 4189 is good value based on its Price-To-Earnings Ratio (10.7x) compared to the peer average (46.2x).

Price to Earnings Ratio vs Industry

How does 4189's PE Ratio compare vs other companies in the JP Chemicals Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
4119 Nippon Pigment Holdings
0.7xn/aUS$31.08m
No more companies available in this PE range
4189 10.7xIndustry Avg. 12.1xNo. of Companies19PE0612182430+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 4189 is good value based on its Price-To-Earnings Ratio (10.7x) compared to the JP Chemicals industry average (12.1x).

Price to Earnings Ratio vs Fair Ratio

What is 4189's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

4189 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio10.7x
Fair PE Ratio11.6x

Price-To-Earnings vs Fair Ratio: 4189 is good value based on its Price-To-Earnings Ratio (10.7x) compared to the estimated Fair Price-To-Earnings Ratio (11.6x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst 4189 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentJP¥2,047.00
JP¥2,666.67
+30.3%
13.8%JP¥3,100.00JP¥2,200.00n/a3
Nov ’25JP¥2,045.00
JP¥2,766.67
+35.3%
23.7%JP¥3,600.00JP¥2,000.00n/a3
Oct ’25JP¥2,116.00
JP¥2,833.33
+33.9%
23.1%JP¥3,600.00JP¥2,000.00n/a3
Sep ’25JP¥2,074.00
JP¥2,833.33
+36.6%
23.1%JP¥3,600.00JP¥2,000.00n/a3
Aug ’25JP¥2,171.00
JP¥2,933.33
+35.1%
12.6%JP¥3,400.00JP¥2,500.00n/a3
Jul ’25JP¥2,302.00
JP¥2,933.33
+27.4%
12.6%JP¥3,400.00JP¥2,500.00n/a3
Jun ’25JP¥2,261.00
JP¥2,933.33
+29.7%
12.6%JP¥3,400.00JP¥2,500.00n/a3
May ’25JP¥2,375.00
JP¥3,000.00
+26.3%
12.5%JP¥3,500.00JP¥2,600.00n/a3
Apr ’25JP¥2,328.00
JP¥3,000.00
+28.9%
12.5%JP¥3,500.00JP¥2,600.00n/a3
Mar ’25JP¥2,256.00
JP¥3,000.00
+33.0%
12.5%JP¥3,500.00JP¥2,600.00n/a3
Feb ’25JP¥2,286.00
JP¥3,033.33
+32.7%
13.8%JP¥3,600.00JP¥2,600.00n/a3
Jan ’25JP¥2,269.00
JP¥3,033.33
+33.7%
13.8%JP¥3,600.00JP¥2,600.00n/a3
Dec ’24JP¥2,282.00
JP¥3,050.00
+33.7%
11.9%JP¥3,600.00JP¥2,600.00n/a4
Nov ’24JP¥2,311.00
JP¥3,300.00
+42.8%
18.8%JP¥4,300.00JP¥2,600.00JP¥2,045.004
Oct ’24JP¥2,295.00
JP¥3,318.00
+44.6%
16.8%JP¥4,300.00JP¥2,600.00JP¥2,116.005
Sep ’24JP¥2,288.00
JP¥3,318.00
+45.0%
16.8%JP¥4,300.00JP¥2,600.00JP¥2,074.005
Aug ’24JP¥2,298.00
JP¥3,438.00
+49.6%
19.2%JP¥4,700.00JP¥2,800.00JP¥2,171.005
Jul ’24JP¥2,340.00
JP¥3,438.00
+46.9%
19.2%JP¥4,700.00JP¥2,800.00JP¥2,302.005
Jun ’24JP¥2,230.00
JP¥3,438.00
+54.2%
19.2%JP¥4,700.00JP¥2,800.00JP¥2,261.005
May ’24JP¥2,392.00
JP¥3,646.00
+52.4%
19.4%JP¥5,000.00JP¥3,000.00JP¥2,375.005
Apr ’24JP¥2,398.00
JP¥3,646.00
+52.0%
19.4%JP¥5,000.00JP¥3,000.00JP¥2,328.005
Mar ’24JP¥2,520.00
JP¥3,807.50
+51.1%
19.2%JP¥5,000.00JP¥3,000.00JP¥2,256.004
Feb ’24JP¥2,735.00
JP¥3,880.00
+41.9%
18.7%JP¥5,000.00JP¥3,000.00JP¥2,286.004
Jan ’24JP¥2,693.00
JP¥3,880.00
+44.1%
18.7%JP¥5,000.00JP¥3,000.00JP¥2,269.004
Dec ’23JP¥2,777.00
JP¥3,866.67
+39.2%
21.7%JP¥5,000.00JP¥3,000.00JP¥2,282.003
Nov ’23JP¥2,523.00
JP¥4,133.33
+63.8%
21.8%JP¥5,300.00JP¥3,100.00JP¥2,311.003

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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