Hojeon Ltd (111110) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Hojeon Ltd stock KRW 18,000, price KRW 6,000, upside +200.0%, quality 52 out of 100. Rating: strongly undervalued. 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 3, 2026.
How to read this chart
60‑month range 5,576 KRW – 12,798 KRW · fair‑value band 12,600 KRW – 23,400 KRW · the 6,000 KRW price screens below the 18,000 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 3, 2026.
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Hojeon Limited, a garment company, produces and sells garments in South Korea, Indonesia, and Vietnam. It offers woven sportswear, special functional outdoor clothing, and sports team's uniforms. The company was founded in 1985 and is headquartered in Seoul, South Korea.
Stock analysis
Hojeon Ltd (111110) currently trades at 6,000 KRW, while our model-based Fair Value estimate is 18,000 KRW, implying the stock looks roughly 67% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 35,954 KRW per share, and 25 of the 26 models we run sit above the 6,000 KRW price.
Bear case: the Dividend Discount group reads lowest at 7,324 KRW, and 1 of the 26 models stay below the price. Data coverage for this calculation is low.
Scenario range: 12,600 KRW (bear) to 23,400 KRW (bull), the price of 6,000 KRW sits below 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 Consumer Cyclical sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Hojeon Ltd reported revenue of 521B KRW in FY2025 versus 345B KRW in FY2021, a compound +10.9%/yr. Reported net income was 12.5B KRW in FY2025, compounding +1.5%/yr from FY2021.
Key figures
Market cap 53.3B KRW (≈ $39.4M) Micro · P/E ratio 2.6 · P/S ratio 0.11 · EPS (TTM) 2,306 KRW · Dividend yield 6.7% · Net margin 3.9% · Return on equity 10.7% · Return on assets (EBIT) 8.8% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 39 out of 100 (medium confidence).
What moves the price
The share trades about 29% below its 52-week high and 1% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −8% fair-value upside, at 200%, 111110 screens cheaper than that median.
Fair Value models
Bear12,600 KRWFair Value 18,000 KRWBull23,400 KRW
Price 6,000 KRW · Upside +200.0%
Capped: our models arrive at a very high value here. We deliberately show a more cautious Fair Value.
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 2025 figures (about 10 months old). Earnings retained since then (1,635 KRW 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.72/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+12.3%
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.
+2.8%
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.
+12.2%
Start year 2020 (pandemic)
Revenue growth 9 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.
+5.7%
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What shareholders gained per year (last 5 years), in KRW ⓘ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. Basis: EBIT basis. 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.
+8.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+1.8%
Dividend (yield on the price)6.7%
Profit margin 2019 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.6% → 5%
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).
+17.3%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (South Korea: IMF forecast 2.1% a year to 2030, 2.1% from 2016 to 2025) that is about +14.9% a year for the price.
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.Textile Manufacturing · 338 stocks
Beats the industry median on 11/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score52 · Above median
Fair Value upside+200.0% · Top 25%
Profitability
Return on equity (12 months)10.7% · Top 25%
Return on assets3.0% · Above median
Net margin (12 months)3.9% · Above median
Operating margin (12 months)3.9% · Below median
Growth and dividend
Revenue growth (quarter YoY)−3.4% · Below median
Dividend yield (12 months)6.7% · Top 25%
Balance sheet
Debt / equity0.18× · Above median
Valuation Multiplesvs Textile Manufacturing median · lower = cheaper
P/E (12 months)2.6× · Cheapest 25%
P/B0.29× · Cheapest 25%
P/S (12 months)0.11× · Cheapest 25%
Price / free cash flow (fiscal year)9.8× · Cheaper than median
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Cite: Fair Value Calculator (2026). "Hojeon Ltd Fair Value". https://www.fairvalue-calculator.com/stock/111110
Frequently asked questions
Is Hojeon Ltd (111110) overvalued or undervalued?
As of Nov 3, 2026, our model estimates a fair value of 18,000 KRW versus a price of 6,000 KRW, about +200% upside (undervalued).
What is the fair value of 111110?
Our model-based fair value for Hojeon Ltd is 18,000 KRW (as of Nov 3, 2026), built from audited fundamentals. The current price: 6,000 KRW.
What is the quality score of 111110?
Hojeon 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 Hojeon Ltd (111110)?
Our model-based price target is the fair value of 18,000 KRW (as of Nov 3, 2026) from 26 valuation models. Cautious scenario 12,600 KRW, optimistic scenario 23,400 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Hojeon Ltd stock forecast for 2026?
Our models put fair value at 18,000 KRW, about +200% upside versus a price of 6,000 KRW (undervalued). Cautious scenario 12,600 KRW, optimistic scenario 23,400 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Hojeon Ltd (111110)?
Hojeon Ltd reported trailing-twelve-month revenue of about 501B KRW (latest available figure, as of Nov 3, 2026).
Does Hojeon Ltd pay a dividend?
Hojeon Ltd currently shows a dividend yield of 6.67% relative to its recent price (as of Nov 3, 2026).
How much is the dividend of Hojeon Ltd (111110) and when is the ex-dividend date?
Hojeon Ltd pays a dividend of 400.00 KRW per share a year, a dividend yield of 6.7%. The last ex-dividend date was Dec 29, 2025. A dividend has been paid every year since at least 2017. The payout ratio is 18.3% of earnings (on adjusted earnings, reported 17.3%). Free cash flow covers the dividend 1.59 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 Hojeon Ltd (111110)?
For today's price to be fair in a discounted-cash-flow model, Hojeon Ltd would have to grow free cash flow by +17.3 % per year for five years (discount rate 8.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +12.2 % per year. As of Nov 3, 2026.
What discount rate (WACC) does the fair value of 111110 use?
Our models discount Hojeon Ltd at 8.9 %: a base by market capitalisation (nano), damped by beta 0.46, country premium for South Korea. 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 Hojeon Ltd that is +17.3 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (8.9 %) and the same formula as our fair value.
How much growth has Hojeon Ltd (111110) delivered so far?
Over the past 5 years revenue at Hojeon Ltd grew +12.2 % a year. The price currently implies free-cash-flow growth of +17.3 % 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 Hojeon Ltd (111110) growing?
The median revenue growth in the sector is +4.7 % a year. That is the yardstick for the growth priced into Hojeon Ltd (+17.3 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Hojeon Ltd (111110)?
The free-cash-flow yield on the price is 10.23 %: that much free cash flow Hojeon Ltd produces per unit of market value. When it exceeds the discount rate of our models (8.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Hojeon Ltd (111110)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Hojeon Ltd it is 18,000 KRW per share (as of Nov 3, 2026), against a price of 6,000 KRW. 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 Hojeon Ltd stock overvalued or undervalued in 2026?
As of Nov 3, 2026, 111110 trades below its calculated fair value: price 6,000 KRW, fair value 18,000 KRW, a gap of about +200% (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 111110?
No. The price is what the market pays today (6,000 KRW); the fair value is what the company's own numbers justify (18,000 KRW). For Hojeon Ltd the two are 12,000 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Hojeon Ltd worth?
The market values Hojeon Ltd at about 53.3B KRW (market capitalisation, as of Nov 3, 2026). Per share that is 6,000 KRW; our models calculate a fair value of 18,000 KRW per share.
What do the bullish and bearish scenarios say about 111110?
Our models span a range for Hojeon Ltd: cautious scenario 12,600 KRW, base 18,000 KRW, optimistic 23,400 KRW per share (as of Nov 3, 2026, price 6,000 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 111110?
Hojeon Ltd trades at a price-to-earnings ratio of 2.6 (as of Nov 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 18,000 KRW is built from several models across several years. Excluding one-off items of fiscal year 2025 it is 4.5 (reported for FY2025: 4.3). Median P/E at fiscal year-end, 8 fiscal years (2017 to 2025), reported earnings, FY2025 ex one-offs: 6.1. Other multiples: P/B 0.3, P/S 0.1, EV/EBITDA 1.4.
How solid is the balance sheet of Hojeon Ltd (111110)?
Balance-sheet figures for Hojeon Ltd (as of Nov 3, 2026): return on equity 10.7%, debt of 0.18 per unit of equity. They feed the Quality Score of 52/100, which measures business quality independently of the share price.
How far is 111110 from its 52-week high?
Hojeon Ltd trades at 6,000 KRW, about 29% below its 52-week high of 8,417 KRW and 1% above the low of 5,950 KRW (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 18,000 KRW is for.
Which stocks are comparable to Hojeon Ltd?
From the same area (Consumer Cyclical) we also value Tongkun Group, Shenzhou International Group, Inner Mongolia ERDOS Resources Co, Far Eastern New Century Corporation, 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 Hojeon Ltd stock attractive at the current price?
The data as of Nov 3, 2026: price 6,000 KRW, calculated fair value 18,000 KRW (+200%), Quality Score 52/100, 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 111110 calculated?
We run Hojeon 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 18,000 KRW 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 13.3% above its aggregate fair value. Hojeon Ltd currently trades 67% 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 Hojeon Ltd (111110)?
The closing price on Nov 6, 2026 was 6,000 KRW. Our model-based fair value is 18,000 KRW, about +200% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Hojeon Ltd right now?
The price is below even our cautious bear case (12,600 KRW). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (52/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (12,600 KRW to 23,400 KRW) leaves room in how you read the outcome.
Key figures of Hojeon Ltd
How large is the market capitalisation of Hojeon Ltd (111110)?
The market capitalisation of Hojeon Ltd is 53.3B KRW (≈ $39.4M). 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 Hojeon Ltd (111110)?
The price-to-sales ratio of Hojeon Ltd is 0.11 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Hojeon Ltd (111110)?
Earnings per share at Hojeon Ltd are 2,306 KRW (price ÷ EPS = P/E 2.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Hojeon Ltd (111110)?
The dividend yield of Hojeon Ltd is 6.7% (payout 18.3%, on adjusted earnings, reported 17.3%). 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 Hojeon Ltd (111110)?
The net margin of Hojeon Ltd is 3.9% (last twelve months). 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 Hojeon Ltd (111110)?
The return on equity (ROE) of Hojeon Ltd is 10.7% (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 Hojeon Ltd (111110)?
On an EBIT basis the return on assets of Hojeon Ltd is 8.8% (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 Hojeon Ltd (111110)?
The operating margin of Hojeon Ltd is 3.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Hojeon Ltd (111110)?
Revenue at Hojeon Ltd is growing −3.4% versus a year earlier (3y avg +2.8%). 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 Hojeon Ltd (111110)?
Earnings per share at Hojeon Ltd are growing −31.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Hojeon Ltd (111110) carry?
The net debt of Hojeon Ltd is 134B KRW (fiscal year 2025, ≈ 24.7 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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Thin data
Nov 3, 2026