Workman Co.Ltd (WKISF) fair value: what the stock is really worth
As of Nov 11, 2026: fair value (intrinsic value) of Workman Co.Ltd stock $27.74, price $33.25, that is 16.6% below the price, quality 68 out of 100. Rating: overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 8, 2026.
How to read this chart
32‑month range $20.65 – $33.25 · fair‑value band $19.41 – $36.06 · the $33.25 price screens above the $27.74 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 8, 2026.
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Workman Co.,Ltd. operates a chain of specialty retail stores in Japan.
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It offers family clothes, such as underwear, socks, military boots, hats, towels, and aprons; casual wear, including polo shirts, T-shirts, high neck shirts, blousons, and sportswear; working wear comprising work jackets, work trousers, overalls, construction worker clothing, outdoor wear; uniforms, such as white coats, office uniforms, non-woven fabrics, and women's clothing; footwear, including safety shoes, tabi socks, boots, and cloth shoes; and work supplies comprising work gloves, leather gloves, processed gloves, rainwear, helmets, belts, and camping gear through franchise retail stores and online stores.
The company was incorporated in 1979 and is based in Tokyo, Japan.
Stock analysis
Workman Co.Ltd (WKISF) currently trades at $33.25, while our model-based Fair Value estimate is $27.74, 17% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of $35.93 per share, and 8 of the 26 models we run sit above the $33.25 price.
Bear case: the Dividend Discount group reads lowest at $7.54, and 18 of the 26 models stay below the price. Data coverage for this calculation is high.
Scenario range: $19.41 (bear) to $36.06 (bull), the price of $33.25 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 68/100 (solid quality), in the Consumer Cyclical sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Workman Co.Ltd reported revenue of ¥161B in FY2026 versus ¥116B in FY2022, a compound +8.5%/yr. Reported net income was ¥20.6B in FY2026, compounding +3.0%/yr from FY2022.
Key figures
Market cap $3.3B Mid · P/E ratio 20.4 · P/S ratio 2.61 · EPS (TTM) $1.63 · Dividend yield 1.7% · Net margin 12.8% · Return on equity 15.7% · Return on assets (EBIT) 17.2% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 65 out of 100 (low confidence).
What moves the price
The share trades about 17% below its 52-week high and 12% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −21% fair-value upside, at −17%, WKISF screens cheaper than that median.
Fair Value models
Bear$19.41Fair Value $27.74Bull$36.06
Price $33.25 · Downside -16.6%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2026 figures (about 7 months old). Earnings retained since then ($0.6676 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. 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.Coverage ⓘCoverage = 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.74/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+17.5%
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.
+7.8%
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.
+8.7%
Start year 2021 (pandemic)
Revenue growth 6 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.
+9.7%
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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.
+5.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+3.9%
Dividend (yield on the price)1.7%
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.23% → 19%
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).
+18.9%
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.
+6.3%
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 +16.5% a year for the price and +4.1% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (2 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.Hype
Recent news coverage is unusually upbeat, far more positive than stocks are typically covered.
AI conclusion: The apparel retailer shows strength in converting operating profits to free cash flow while growing its store network, but lacks clear brand advantages or switching costs in a competitive market.
Main risk: Intense competition in apparel retail could pressure margins and demand, given the absence of brand scale or switching costs.
Workman keeps reporting robust same-store sales, including a 20.7 percent year-on-year jump in September fueled by rain-related items and new recovery wear. Its model stands out for converting operating profits into free cash flow at a high rate while expanding the store base. Our models currently see the shares as overvalued. Will the recent momentum reflect lasting shifts in customer needs, or will it prove temporary once weather and product cycles normalize?
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.Apparel Retail · 105 stocks
Beats the industry median on 6/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score68 · Top 25%
Fair Value upside−16.6% · Below median
Profitability
Return on equity (12 months)15.7% · Above median
Return on assets11.1% · Top 25%
Net margin (12 months)13.2% · Top 25%
Operating margin (12 months)23.2% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)24.7% · Top 25%
Dividend yield (12 months)1.7% · Below median
Valuation Multiplesvs Apparel Retail median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Workman Co.Ltd Fair Value". https://www.fairvalue-calculator.com/stock/WKISF
Frequently asked questions
Is Workman Co.Ltd (WKISF) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of $27.74 versus a price of $33.25, about 17% lower (overvalued).
What is the fair value of WKISF?
Our model-based fair value for Workman Co.Ltd is $27.74 (as of Nov 8, 2026), built from audited fundamentals. The current price: $33.25.
What is the quality score of WKISF?
Workman Co.Ltd has a Quality Score of 68/100. 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 Workman Co.Ltd (WKISF)?
Our model-based price target is the fair value of $27.74 (as of Nov 8, 2026) from 26 valuation models. Cautious scenario $19.41, optimistic scenario $36.06. It is a calculation from audited fundamentals, not an analyst target.
What is the Workman Co.Ltd stock forecast for 2026?
Our models put fair value at $27.74, about 17% lower versus a price of $33.25 (overvalued). Cautious scenario $19.41, optimistic scenario $36.06. The calculation is refreshed regularly with new filings.
What is the revenue of Workman Co.Ltd (WKISF)?
Workman Co.Ltd reported trailing-twelve-month revenue of about ¥171B (latest available figure, as of Nov 8, 2026).
Does Workman Co.Ltd pay a dividend?
Workman Co.Ltd currently shows a dividend yield of 1.67% relative to its recent price (as of Nov 8, 2026).
How much is the dividend of Workman Co.Ltd (WKISF) and when is the ex-dividend date?
Workman Co.Ltd pays a dividend of $0.557 per share a year, a dividend yield of 1.7%. The next ex-dividend date is Mar 30, 2027. The payout ratio is 35.2% of earnings. Free cash flow covers the dividend 1.40 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
What growth is priced into Workman Co.Ltd (WKISF)?
For today's price to be fair in a discounted-cash-flow model, Workman Co.Ltd would have to grow free cash flow by +18.9 % per year for five years (discount rate 9.4 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +8.7 % per year. As of Nov 8, 2026.
What discount rate (WACC) does the fair value of WKISF use?
Our models discount Workman Co.Ltd at 9.4 %: a base by market capitalisation (mid), damped by beta 0.87, 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 Workman Co.Ltd that is +18.9 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (9.4 %) and the same formula as our fair value.
How much growth has Workman Co.Ltd (WKISF) delivered so far?
Over the past 5 years revenue at Workman Co.Ltd grew +8.7 % a year. The price currently implies free-cash-flow growth of +18.9 % per 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 Workman Co.Ltd (WKISF) growing?
The median revenue growth in the sector is +9.3 % a year. That is the yardstick for the growth priced into Workman Co.Ltd (+18.9 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Workman Co.Ltd (WKISF)?
The free-cash-flow yield on the price is 2.35 %: that much free cash flow Workman Co.Ltd produces per unit of market value. When it exceeds the discount rate of our models (9.4 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Workman Co.Ltd (WKISF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Workman Co.Ltd it is $27.74 per share (as of Nov 8, 2026), against a price of $33.25. It is the blended result of 26 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Workman Co.Ltd stock overvalued or undervalued in 2026?
As of Nov 8, 2026, WKISF trades above its calculated fair value: price $33.25, fair value $27.74, a gap of about −17% (overvalued). 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 WKISF?
No. The price is what the market pays today ($33.25); the fair value is what the company's own numbers justify ($27.74). For Workman Co.Ltd the two are $5.51 per share apart. That gap is exactly why we show both numbers side by side.
How much is Workman Co.Ltd worth?
The market values Workman Co.Ltd at about $3.3B (market capitalisation, as of Nov 8, 2026). Per share that is $33.25; our models calculate a fair value of $27.74 per share.
What do the bullish and bearish scenarios say about WKISF?
Our models span a range for Workman Co.Ltd: cautious scenario $19.41, base $27.74, optimistic $36.06 per share (as of Nov 8, 2026, price $33.25). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of WKISF?
Workman Co.Ltd trades at a price-to-earnings ratio of 20.4 (as of Nov 8, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $27.74 is built from several models across several years. Other multiples: P/B 2.8, P/S 2.5, EV/EBITDA 13.2.
How solid is the balance sheet of Workman Co.Ltd (WKISF)?
Balance-sheet figures for Workman Co.Ltd (as of Nov 8, 2026): return on equity 15.7%. They feed the Quality Score of 68/100, which measures business quality independently of the share price.
How far is WKISF from its 52-week high?
Workman Co.Ltd trades at $33.25, about 17% below its 52-week high of $40.01 and 12% above the low of $29.76 (as of Nov 10, 2026). Distance from the high says nothing about value: that is what the fair value of $27.74 is for.
Which stocks are comparable to Workman Co.Ltd?
From the same area (Consumer Cyclical) we also value Industria de Diseño Textil, S.A, The TJX Companies, Inc, Fast Retailing Co, Ross Stores, Inc, 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 Workman Co.Ltd stock attractive at the current price?
The data as of Nov 8, 2026: price $33.25, calculated fair value $27.74 (−17%), Quality Score 68/100, 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 WKISF calculated?
We run Workman Co.Ltd through 26 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of $27.74 builds on their evidence-weighted average, 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 14.3% above its aggregate fair value. Workman 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 Workman Co.Ltd (WKISF)?
The closing price on Nov 11, 2026 was $33.25. Our model-based fair value is $27.74, about 17% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Workman Co.Ltd right now?
Solid but not exceptional quality (68/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range ($19.41 to $36.06) leaves room in how you read the outcome.
Key figures of Workman Co.Ltd
How large is the market capitalisation of Workman Co.Ltd (WKISF)?
The market capitalisation of Workman Co.Ltd is $3.3B. 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 Workman Co.Ltd (WKISF)?
The price-to-sales ratio of Workman Co.Ltd is 2.61 (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 Workman Co.Ltd (WKISF)?
Earnings per share at Workman Co.Ltd are $1.63 (price ÷ EPS = P/E 20.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Workman Co.Ltd (WKISF)?
The dividend yield of Workman Co.Ltd is 1.7% (payout 34.1%). 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 Workman Co.Ltd (WKISF)?
The net margin of Workman Co.Ltd is 12.8% (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 Workman Co.Ltd (WKISF)?
The return on equity (ROE) of Workman Co.Ltd is 15.7% (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 Workman Co.Ltd (WKISF)?
On an EBIT basis the return on assets of Workman Co.Ltd is 17.2% (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 Workman Co.Ltd (WKISF)?
The operating margin of Workman Co.Ltd is 23.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Workman Co.Ltd (WKISF)?
Revenue at Workman Co.Ltd is growing +24.7% versus a year earlier (3y avg +7.8%). 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 Workman Co.Ltd (WKISF)?
Earnings per share at Workman Co.Ltd are growing +33.9% versus a year earlier. How much earnings per share grew versus a year earlier.
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Broad data
Nov 8, 2026