PJ Metal Co. Ltd (128660) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of PJ Metal Co. Ltd stock KRW 3,048, price KRW 2,655, upside +14.8%, quality 52 out of 100. Rating: undervalued. Calculated from audited financials with 17 of our 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 9, 2026.
How to read this chart
60‑month range 2,378 KRW – 5,469 KRW · fair‑value band 2,052 KRW – 4,380 KRW · the 2,655 KRW price screens below the 3,048 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 9, 2026.
Follow PJ Metal Co. in your weekly email
Every Wednesday you see whether PJ Metal Co. is on track or worth a review, plus price against fair value. Free, up to 3 stocks.
We send you a confirmation link. Unsubscribe with one click.
PJ Metal Co., Ltd. engages in the manufacturing of aluminum deoxidizers and billets in South Korea. The company's aluminum deoxidizers include pellets, mini-pellets, and shot deoxidizers, which are used to remove the oxygen contained in molten iron.
Show moreShow less
It also offers aluminum flux, which consists of slab stabilizers and deoxidizers that enhances the yield rate of valid ingredients in the molten iron; and aluminum billets for applications in materials for construction and industrial parts, as well as for vehicle, and electricity and electronics in factories for pressing out.
PJ Metal Co., Ltd. was founded in 1984 and is headquartered in Seoul, South Korea.
Stock analysis
PJ Metal Co. Ltd (128660) currently trades at 2,655 KRW, while our model-based Fair Value estimate is 3,048 KRW, implying the stock looks roughly 13% undervalued today.
Show more
Valuation
Bull case: the Growth Earnings group reads highest at a median of 5,813 KRW per share, and 15 of the 17 models we run sit above the 2,655 KRW price.
Bear case: the Asset-Based group reads lowest at 1,115 KRW, and 2 of the 17 models stay below the price. Data coverage for this calculation is medium.
Scenario range: 2,052 KRW (bear) to 4,380 KRW (bull), the price of 2,655 KRW 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 Basic Materials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
PJ Metal Co. Ltd reported revenue of 349B KRW in FY2025 versus 246B KRW in FY2021, a compound +9.1%/yr. Reported net income was 7.6B KRW in FY2025, compounding −19.7%/yr from FY2021.
Key figures
Market cap 65.9B KRW (≈ $49.2M) Micro · P/E ratio 4.7 · P/S ratio 0.16 · EPS (TTM) 581.39 KRW · Dividend yield 6.4% · Net margin 3.6% · Return on equity 19.4% · Return on assets (EBIT) 13.5% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 44 out of 100 (low confidence).
What moves the price
The share trades about 33% below its 52-week high and 6% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −5% fair-value upside, at 15%, 128660 screens cheaper than that median.
Fair Value models
Bear2,052 KRWFair Value 3,048 KRWBull4,380 KRW
Price 2,655 KRW · Upside +14.8%
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 (353.91 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.
Best data coverage
Residual Income2,658 KRW2,972 KRW3,811 KRW76
EPV4,032 KRW4,749 KRW5,379 KRW74
Owner Earnings2,255 KRW4,580 KRW8,895 KRW72
All 17 models by family
DCF Models
Owner Earnings2,255 KRW4,580 KRW8,895 KRW72
Earnings-Based
Graham-Dodd2,091 KRW11,058 KRW15,310 KRW63
Lynch FV3,044 KRW4,348 KRW5,652 KRW61
PEG = 1.03,044 KRW4,348 KRW5,652 KRW57
EPV4,032 KRW4,749 KRW5,379 KRW74
Dividend Discount
Gordon GGM1,393 KRW2,932 KRW4,715 KRW66
DDM Multi-Stage1,393 KRW2,455 KRW3,072 KRW66
Multiples
P/E Multiple3,921 KRW5,227 KRW6,534 KRW63
P/S Multiple3,921 KRW5,227 KRW6,534 KRW58
P/B Multiple2,905 KRW3,874 KRW4,842 KRW55
EV/EBIT2,224 KRW3,949 KRW5,675 KRW63
EV/EBITDA1,732 KRW3,293 KRW4,854 KRW64
EV/Revenue1,534 KRW3,456 KRW5,379 KRW51
Asset-Based
NCAV (Graham)735.68 KRW1,115 KRW1,393 KRW54
Economic Profit
Residual Income2,658 KRW2,972 KRW3,811 KRW76
ROIC Compounder4,564 KRW6,531 KRW8,871 KRW71
Growth Earnings
Growth-Adj P/E4,069 KRW5,813 KRW7,557 KRW67
The fair value above starts from this blend and is adjusted for a cyclical peak year.
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.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+37.1%
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.
+9.1%
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.
+22.2%
Start year 2020 (pandemic). Over 10 years: +13.1% a year
Revenue growth 11 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.
+10.5%
’14
’15
’16
’17
’18
’19
’20
’21
’22
’23
’24
’25
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. 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.
+16.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year+9.9%
Dividend (yield on the price)6.4%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.9.9% vs 12.3%, steady
Profit margin 2020 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.5% → 4%
Price, fair value, quality and upside side by side.
Free, no sign-up
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.Aluminum · 83 stocks
Beats the industry median on 12/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score52 · Above median
Fair Value upside+14.8% · Top 25%
Profitability
Return on equity (12 months)19.4% · Top 25%
Return on assets4.6% · Above median
Net margin (12 months)3.6% · Below median
Operating margin (12 months)9.6% · Above median
Growth and dividend
Revenue growth (quarter YoY)40.9% · Top 25%
Dividend yield (12 months)6.4% · Top 25%
Balance sheet
Debt / equity0.07× · Below median
Valuation Multiplesvs Aluminum 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). "PJ Metal Co. Ltd Fair Value". https://www.fairvalue-calculator.com/stock/128660
Frequently asked questions
Is PJ Metal Co. Ltd (128660) overvalued or undervalued?
As of Nov 9, 2026, our model estimates a fair value of 3,048 KRW versus a price of 2,655 KRW, about +15% upside (undervalued).
What is the fair value of 128660?
Our model-based fair value for PJ Metal Co. Ltd is 3,048 KRW (as of Nov 9, 2026), built from audited fundamentals. The current price: 2,655 KRW.
What is the quality score of 128660?
PJ Metal 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 PJ Metal Co. Ltd (128660)?
Our model-based price target is the fair value of 3,048 KRW (as of Nov 9, 2026) from 17 valuation models. Cautious scenario 2,052 KRW, optimistic scenario 4,380 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the PJ Metal Co. Ltd stock forecast for 2026?
Our models put fair value at 3,048 KRW, about +15% upside versus a price of 2,655 KRW (undervalued). Cautious scenario 2,052 KRW, optimistic scenario 4,380 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of PJ Metal Co. Ltd (128660)?
PJ Metal Co. Ltd reported trailing-twelve-month revenue of about 403B KRW (latest available figure, as of Nov 9, 2026).
Does PJ Metal Co. Ltd pay a dividend?
PJ Metal Co. Ltd currently shows a dividend yield of 6.40% relative to its recent price (as of Nov 9, 2026).
How much is the dividend of PJ Metal Co. Ltd (128660) and when is the ex-dividend date?
PJ Metal Co. Ltd pays a dividend of 170.00 KRW per share a year, a dividend yield of 6.4%. The last ex-dividend date was Mar 25, 2026. The payout ratio is 29.2% of earnings. Our assessment: Watch coverage. The dividend isn’t fully covered by free cash flow or earnings, part of it is funded from reserves or debt. Fine for now, but worth watching: if it stays uncovered, the dividend could be cut.
What is the intrinsic value of PJ Metal Co. Ltd (128660)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For PJ Metal Co. Ltd it is 3,048 KRW per share (as of Nov 9, 2026), against a price of 2,655 KRW. It is the blended result of 17 valuation models in 7 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is PJ Metal Co. Ltd stock overvalued or undervalued in 2026?
As of Nov 9, 2026, 128660 trades below its calculated fair value: price 2,655 KRW, fair value 3,048 KRW, a gap of about +15% (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 128660?
No. The price is what the market pays today (2,655 KRW); the fair value is what the company's own numbers justify (3,048 KRW). For PJ Metal Co. Ltd the two are 393.23 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is PJ Metal Co. Ltd worth?
The market values PJ Metal Co. Ltd at about 65.9B KRW (market capitalisation, as of Nov 9, 2026). Per share that is 2,655 KRW; our models calculate a fair value of 3,048 KRW per share.
What do the bullish and bearish scenarios say about 128660?
Our models span a range for PJ Metal Co. Ltd: cautious scenario 2,052 KRW, base 3,048 KRW, optimistic 4,380 KRW per share (as of Nov 9, 2026, price 2,655 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 128660?
PJ Metal Co. Ltd trades at a price-to-earnings ratio of 4.7 (as of Nov 9, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 3,048 KRW is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings: 13.0. Other multiples: P/B 0.9, P/S 0.2, EV/EBITDA 2.3.
How solid is the balance sheet of PJ Metal Co. Ltd (128660)?
Balance-sheet figures for PJ Metal Co. Ltd (as of Nov 9, 2026): return on equity 19.4%, debt of 0.07 per unit of equity. They feed the Quality Score of 52/100, which measures business quality independently of the share price.
How far is 128660 from its 52-week high?
PJ Metal Co. Ltd trades at 2,655 KRW, about 33% below its 52-week high of 3,975 KRW and 6% above the low of 2,513 KRW (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of 3,048 KRW is for.
Which stocks are comparable to PJ Metal Co. Ltd?
From the same area (Basic Materials) we also value Shandong Hongqiao Aluminum Industry Holding, Aluminum Corporation, China Hongqiao Group, Hindalco 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 PJ Metal Co. Ltd stock attractive at the current price?
The data as of Nov 9, 2026: price 2,655 KRW, calculated fair value 3,048 KRW (+15%), Quality Score 52/100, from 17 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 128660 calculated?
We run PJ Metal Co. Ltd through 17 models from 7 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 3,048 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 13.7% above its aggregate fair value. PJ Metal Co. Ltd currently trades 13% 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 PJ Metal Co. Ltd (128660)?
The closing price on Nov 9, 2026 was 2,655 KRW. Our model-based fair value is 3,048 KRW, about +15% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with PJ Metal Co. Ltd right now?
A fairly wide model range (2,052 KRW to 4,380 KRW) leaves room in how you read the outcome. 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 PJ Metal Co. Ltd
How large is the market capitalisation of PJ Metal Co. Ltd (128660)?
The market capitalisation of PJ Metal Co. Ltd is 65.9B KRW (≈ $49.2M). 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 PJ Metal Co. Ltd (128660)?
The price-to-sales ratio of PJ Metal Co. Ltd is 0.16 (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 PJ Metal Co. Ltd (128660)?
Earnings per share at PJ Metal Co. Ltd are 581.39 KRW (price ÷ EPS = P/E 4.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of PJ Metal Co. Ltd (128660)?
The dividend yield of PJ Metal Co. Ltd is 6.4% (payout 29.2%). 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 PJ Metal Co. Ltd (128660)?
The net margin of PJ Metal Co. Ltd is 3.6% (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 PJ Metal Co. Ltd (128660)?
The return on equity (ROE) of PJ Metal Co. Ltd is 19.4% (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 PJ Metal Co. Ltd (128660)?
On an EBIT basis the return on assets of PJ Metal Co. Ltd is 13.5% (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 PJ Metal Co. Ltd (128660)?
The operating margin of PJ Metal Co. Ltd is 9.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at PJ Metal Co. Ltd (128660)?
Revenue at PJ Metal Co. Ltd is growing +40.9% versus a year earlier (3y avg +9.1%). 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 PJ Metal Co. Ltd (128660)?
Earnings per share at PJ Metal Co. Ltd are growing +527% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does PJ Metal Co. Ltd (128660) generate?
The free cash flow of PJ Metal Co. Ltd is −21.2B KRW (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does PJ Metal Co. Ltd (128660) carry?
The net debt of PJ Metal Co. Ltd is 73.2B KRW (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
Why does PJ Metal Co. Ltd meet the fair value rule although the fair value shown is lower?
Peak profit dampened: 3,949 KRW → 3,048 KRW. The latest annual profit is far above the years before, and such peaks rarely last. So we calculate cautiously with 3,048 KRW instead of 3,949 KRW. If the profit stays high, we ease the caution year by year. As in the backtest, the fair value rule checks the value before: +49% against the price.
Free · no account needed
Watch PJ Metal Co. Ltd in the live analysis
One click puts PJ Metal Co. Ltd on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 27,000+ stock screener.
Some data
Nov 9, 2026