Bokwang Industry Co Ltd (225530) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Bokwang Industry Co Ltd stock KRW 3,384, price KRW 2,115, upside +60.0%, quality 50 out of 100. Rating: strongly undervalued. Calculated from audited financials with 10 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 1,725 KRW – 9,913 KRW · fair‑value band 2,937 KRW – 3,780 KRW · the 2,115 KRW price screens below the 3,384 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 9, 2026.
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HC BoKwang Industry Co.,Ltd manufactures and sells aggregates, ascons, and ready mixed concrete in South Korea. HC BoKwang Industry Co.,Ltd was formerly known as Bokwang Industry Co., Ltd. and changed its name to HC BoKwang Industry Co.,Ltd in July 2025.
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The company was founded in 1998 and is headquartered in Daegu, South Korea.
Stock analysis
Bokwang Industry Co Ltd (225530) currently trades at 2,115 KRW, while our model-based Fair Value estimate is 3,384 KRW, implying the stock looks roughly 38% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of 3,422 KRW per share, and 7 of the 10 models we run sit above the 2,115 KRW price.
Bear case: the Asset-Based group reads lowest at 1,655 KRW, and 3 of the 10 models stay below the price. Data coverage for this calculation is medium.
Scenario range: 2,937 KRW (bear) to 3,780 KRW (bull), the price of 2,115 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 50/100 (solid quality), in the Basic Materials sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Bokwang Industry Co Ltd reported revenue of 38.5B KRW in FY2025 versus 71.9B KRW in FY2021, a compound −14.5%/yr. Reported net income was −2.5B KRW in FY2025.
Key figures
Market cap 76.9B KRW (≈ $56.8M) Micro · P/E ratio 238.5 · P/S ratio 1.79 · EPS (TTM) 8.79 KRW · Dividend yield 2.4% · Net margin 0.8% · Return on equity 0.4% · Return on assets (EBIT) 6.5% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (medium confidence).
What moves the price
The share trades about 50% below its 52-week high and 23% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −43% fair-value upside, at 60%, 225530 screens cheaper than that median.
Fair Value models
Bear2,937 KRWFair Value 3,384 KRWBull3,780 KRW
Price 2,115 KRW · Upside +60.0%
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.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
FCF DCF3,344 KRW4,253 KRW5,748 KRW82
Growth DCF3,437 KRW4,295 KRW5,599 KRW80
Owner Earnings2,383 KRW3,020 KRW4,067 KRW78
All 10 models by family
DCF Models
FCF DCF3,344 KRW4,253 KRW5,748 KRW82
Owner Earnings2,383 KRW3,020 KRW4,067 KRW78
5Y Revenue Exit2,039 KRW2,461 KRW3,067 KRW74
5Y EBITDA Exit1,829 KRW2,098 KRW2,457 KRW77
10Y Revenue Exit2,603 KRW2,944 KRW3,271 KRW68
10Y EBITDA Exit2,508 KRW2,745 KRW2,954 KRW70
Multiples
EV/Revenuen/a313.83 KRW695.18 KRW50
Asset-Based
NCAV (Graham)1,235 KRW1,655 KRW2,470 KRW54
Growth DCF
Growth DCF3,437 KRW4,295 KRW5,599 KRW80
Rev-Margin DCF2,039 KRW2,549 KRW3,219 KRW74
The fair value above starts from this blend and is adjusted for a cyclical trough 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.37/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−39.7%
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.
−23.9%
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.
−7.5%
Start year 2020 (pandemic). Over 10 years: −0.4% 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.
+1.8%
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Profit margin (trend) ⓘ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.
16.9% (2020) → −12.6% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
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).
−1.5%
The company could shrink this much every year for the next five years and today's price would still be justified.
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 −3.6% a year for the price.
Compare Bokwang Industry Co Ltd with another stock
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.Specialty Chemicals · 728 stocks
Beats the industry median on 7/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score50 · Below median
Fair Value upside+60.0% · Top 25%
Profitability
Return on equity (12 months)0.4% · Bottom 25%
Return on assets−1.4% · Bottom 25%
Net margin (12 months)0.8% · Bottom 25%
Operating margin (12 months)15.7% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)46.9% · Top 25%
Dividend yield (12 months)2.4% · Above median
Balance sheet
Debt / equity0.05× · Below median
Valuation Multiplesvs Specialty Chemicals 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). "Bokwang Industry Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/225530
Frequently asked questions
Is Bokwang Industry Co Ltd (225530) overvalued or undervalued?
As of Nov 9, 2026, our model estimates a fair value of 3,384 KRW versus a price of 2,115 KRW, about +60% upside (undervalued).
What is the fair value of 225530?
Our model-based fair value for Bokwang Industry Co Ltd is 3,384 KRW (as of Nov 9, 2026), built from audited fundamentals. The current price: 2,115 KRW.
What is the quality score of 225530?
Bokwang Industry Co Ltd has a Quality Score of 50/100. 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 Bokwang Industry Co Ltd (225530)?
Our model-based price target is the fair value of 3,384 KRW (as of Nov 9, 2026) from 10 valuation models. Cautious scenario 2,937 KRW, optimistic scenario 3,780 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Bokwang Industry Co Ltd stock forecast for 2026?
Our models put fair value at 3,384 KRW, about +60% upside versus a price of 2,115 KRW (undervalued). Cautious scenario 2,937 KRW, optimistic scenario 3,780 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Bokwang Industry Co Ltd (225530)?
Bokwang Industry Co Ltd reported trailing-twelve-month revenue of about 42.9B KRW (latest available figure, as of Nov 9, 2026).
Does Bokwang Industry Co Ltd pay a dividend?
Bokwang Industry Co Ltd currently shows a dividend yield of 2.36% relative to its recent price (as of Nov 9, 2026).
How much is the dividend of Bokwang Industry Co Ltd (225530) and when is the ex-dividend date?
Bokwang Industry Co Ltd pays a dividend of 50.00 KRW per share a year, a dividend yield of 2.4%. The last ex-dividend date was Dec 29, 2025. A dividend has been paid every year since at least 2016. Free cash flow covers the dividend 6.70 times. Our assessment: Sustainable. Payout and cash coverage both look sustainable.
What growth is priced into Bokwang Industry Co Ltd (225530)?
For today's price to be fair in a discounted-cash-flow model, Bokwang Industry Co Ltd would have to grow free cash flow by -1.5 % per year for five years (discount rate 11.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -7.5 % per year. As of Nov 9, 2026.
What discount rate (WACC) does the fair value of 225530 use?
Our models discount Bokwang Industry Co Ltd at 11.6 %: a base by market capitalisation (micro), damped by beta 0.17, 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 Bokwang Industry Co Ltd that is -1.5 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (11.6 %) and the same formula as our fair value.
How much growth has Bokwang Industry Co Ltd (225530) delivered so far?
Over the past 5 years revenue at Bokwang Industry Co Ltd grew -7.5 % a year. The price currently implies free-cash-flow growth of -1.5 % 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 Bokwang Industry Co Ltd (225530) growing?
The median revenue growth in the sector is +14.3 % a year. That is the yardstick for the growth priced into Bokwang Industry Co Ltd (-1.5 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Bokwang Industry Co Ltd (225530)?
The free-cash-flow yield on the price is 15.84 %: that much free cash flow Bokwang Industry Co Ltd produces per unit of market value. When it exceeds the discount rate of our models (11.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Bokwang Industry Co Ltd (225530)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Bokwang Industry Co Ltd it is 3,384 KRW per share (as of Nov 9, 2026), against a price of 2,115 KRW. It is the blended result of 10 valuation models in 4 families (DCF Models, Multiples, Asset-Based, Growth DCF).
Is Bokwang Industry Co Ltd stock overvalued or undervalued in 2026?
As of Nov 9, 2026, 225530 trades below its calculated fair value: price 2,115 KRW, fair value 3,384 KRW, a gap of about +60% (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 225530?
No. The price is what the market pays today (2,115 KRW); the fair value is what the company's own numbers justify (3,384 KRW). For Bokwang Industry Co Ltd the two are 1,269 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Bokwang Industry Co Ltd worth?
The market values Bokwang Industry Co Ltd at about 76.9B KRW (market capitalisation, as of Nov 9, 2026). Per share that is 2,115 KRW; our models calculate a fair value of 3,384 KRW per share.
What do the bullish and bearish scenarios say about 225530?
Our models span a range for Bokwang Industry Co Ltd: cautious scenario 2,937 KRW, base 3,384 KRW, optimistic 3,780 KRW per share (as of Nov 9, 2026, price 2,115 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 225530?
Bokwang Industry Co Ltd trades at a price-to-earnings ratio of 238.5 (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 3,384 KRW is built from several models across several years. Median P/E at fiscal year-end, 8 fiscal years (2017 to 2024), reported earnings: 23.8. Other multiples: P/B 0.8, P/S 1.8, EV/EBITDA 11.2.
How solid is the balance sheet of Bokwang Industry Co Ltd (225530)?
Balance-sheet figures for Bokwang Industry Co Ltd (as of Nov 9, 2026): return on equity 0.4%, debt of 0.05 per unit of equity. They feed the Quality Score of 50/100, which measures business quality independently of the share price.
How far is 225530 from its 52-week high?
Bokwang Industry Co Ltd trades at 2,115 KRW, about 50% below its 52-week high of 4,260 KRW and 23% above the low of 1,725 KRW (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 3,384 KRW is for.
Which stocks are comparable to Bokwang Industry Co Ltd?
From the same area (Basic Materials) we also value Linde plc, Ecolab Inc, The Sherwin-Williams Company, Nan Ya Plastics 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 Bokwang Industry Co Ltd stock attractive at the current price?
The data as of Nov 9, 2026: price 2,115 KRW, calculated fair value 3,384 KRW (+60%), Quality Score 50/100, from 10 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 225530 calculated?
We run Bokwang Industry Co Ltd through 10 models from 4 families: DCF Models, Multiples, Asset-Based, Growth DCF. Every model gets the same audited fundamentals; the fair value of 3,384 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. Bokwang Industry Co Ltd currently trades 38% 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 Bokwang Industry Co Ltd (225530)?
The closing price on Nov 6, 2026 was 2,115 KRW. Our model-based fair value is 3,384 KRW, about +60% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Bokwang Industry Co Ltd right now?
The price is below even our cautious bear case (2,937 KRW). The market is more pessimistic than our downside scenario. Solid quality (50/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of Bokwang Industry Co Ltd
How large is the market capitalisation of Bokwang Industry Co Ltd (225530)?
The market capitalisation of Bokwang Industry Co Ltd is 76.9B KRW (≈ $56.8M). 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 Bokwang Industry Co Ltd (225530)?
The price-to-sales ratio of Bokwang Industry Co Ltd is 1.79 (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 Bokwang Industry Co Ltd (225530)?
Earnings per share at Bokwang Industry Co Ltd are 8.79 KRW (price ÷ EPS = P/E 238.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Bokwang Industry Co Ltd (225530)?
The dividend yield of Bokwang Industry Co Ltd is 2.4%. 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 Bokwang Industry Co Ltd (225530)?
The net margin of Bokwang Industry Co Ltd is 0.8% (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 Bokwang Industry Co Ltd (225530)?
The return on equity (ROE) of Bokwang Industry Co Ltd is 0.4% (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 Bokwang Industry Co Ltd (225530)?
On an EBIT basis the return on assets of Bokwang Industry Co Ltd is 6.5% (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 Bokwang Industry Co Ltd (225530)?
The operating margin of Bokwang Industry Co Ltd is 15.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Bokwang Industry Co Ltd (225530)?
Revenue at Bokwang Industry Co Ltd is growing +46.9% versus a year earlier (3y avg −23.9%). 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 Bokwang Industry Co Ltd (225530)?
Earnings per share at Bokwang Industry Co Ltd are growing +829% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Bokwang Industry Co Ltd (225530) carry?
The net debt of Bokwang Industry Co Ltd is 34.8B KRW (fiscal year 2025, ≈ 2.9 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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Some data
Nov 9, 2026