Shindo Eng. Lab. Ltd (290520) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of Shindo Eng. Lab. Ltd stock KRW 2,989, price KRW 1,338, upside +123.4%, quality 64 out of 100. Rating: strongly undervalued. Calculated from audited financials with 15 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 3, 2026.
How to read this chart
60‑month range 1,329 KRW – 9,500 KRW · fair‑value band 2,804 KRW – 3,173 KRW · the 1,338 KRW price screens below the 2,989 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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Shindo Eng. Lab., Ltd. engages in the manufacture and sale of display equipment in South Korea.
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Its products include OLED products, including 3D and 2D lamination, and roll lamination; LCD products, such as PI coater, rubbing M/C, spacer sprayer, assembly M/C, auto scribe, filling M/C, and end seal M/C; fuel cells; and other products comprising one drop filing, vacuum press, STA type, and tank type.
The company was founded in 1989 and is headquartered in Siheung-si, South Korea.
Stock analysis
Shindo Eng. Lab. Ltd (290520) currently trades at 1,338 KRW, while our model-based Fair Value estimate is 2,989 KRW, implying the stock looks roughly 55% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 3,228 KRW per share, and 13 of the 15 models we run sit above the 1,338 KRW price.
Bear case: the Growth Earnings group reads lowest at 1,509 KRW, and 2 of the 15 models stay below the price. Data coverage for this calculation is low.
Scenario range: 2,804 KRW (bear) to 3,173 KRW (bull), the price of 1,338 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 64/100 (solid quality), in the Industrials sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Shindo Eng. Lab. Ltd reported revenue of 31.9B KRW in FY2025 versus 39.8B KRW in FY2021, a compound −5.4%/yr. Reported net income was 1.8B KRW in FY2025, compounding +2.5%/yr from FY2021.
Key figures
Market cap 21.1B KRW (≈ $15.6M) Micro · P/S ratio 0.55 · EPS (TTM) −69.82 KRW · Net margin −2.8% · Return on equity −2.1% · Return on assets (EBIT) −3.8% (5-year average) · Operating margin −103% · Revenue (TTM) 39.5B KRW.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 22 out of 100 (medium confidence).
What moves the price
The share trades about 60% below its 52-week high and 1% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −46% fair-value upside, at 123%, 290520 screens cheaper than that median.
Fair Value models
Bear2,804 KRWFair Value 2,989 KRWBull3,173 KRW
Price 1,338 KRW · Upside +123.4%
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.
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.20/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+201.2%
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.
+13.5%
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.
−5.1%
Start year 2020 (pandemic)
Revenue growth 8 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.
−7.9%
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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. 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.
−28.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year−28.0%
Dividend (yield on the price)0.0%
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.−9% → 6%
⚠ Revenue per share shrinking 18.8%/yr over ~6Y (margins eroding too) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
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 Industrial Machinery · 810 stocks
Beats the industry median on 5/8 measures
Overall it ranks above its industry peers.
Valuation
Quality Score64 · Top 25%
Fair Value upside+123.4% · Top 25%
Profitability
Return on assets2.9% · Below median
Net margin (12 months)−2.8% · Bottom 25%
Operating margin (12 months)−103.4% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)917.4% · Top 25%
Valuation Multiplesvs Specialty Industrial Machinery median · lower = cheaper
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Is Shindo Eng. Lab. Ltd (290520) overvalued or undervalued?
As of Nov 3, 2026, our model estimates a fair value of 2,989 KRW versus a price of 1,338 KRW, about +123% upside (undervalued).
What is the fair value of 290520?
Our model-based fair value for Shindo Eng. Lab. Ltd is 2,989 KRW (as of Nov 3, 2026), built from audited fundamentals. The current price: 1,338 KRW.
What is the quality score of 290520?
Shindo Eng. Lab. Ltd has a Quality Score of 64/100. 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 Shindo Eng. Lab. Ltd (290520)?
Our model-based price target is the fair value of 2,989 KRW (as of Nov 3, 2026) from 15 valuation models. Cautious scenario 2,804 KRW, optimistic scenario 3,173 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Shindo Eng. Lab. Ltd stock forecast for 2026?
Our models put fair value at 2,989 KRW, about +123% upside versus a price of 1,338 KRW (undervalued). Cautious scenario 2,804 KRW, optimistic scenario 3,173 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Shindo Eng. Lab. Ltd (290520)?
Shindo Eng. Lab. Ltd reported trailing-twelve-month revenue of about 39.5B KRW (latest available figure, as of Nov 3, 2026).
What is the intrinsic value of Shindo Eng. Lab. Ltd (290520)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Shindo Eng. Lab. Ltd it is 2,989 KRW per share (as of Nov 3, 2026), against a price of 1,338 KRW. It is the blended result of 15 valuation models in 6 families (DCF Models, Earnings-Based, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is Shindo Eng. Lab. Ltd stock overvalued or undervalued in 2026?
As of Nov 3, 2026, 290520 trades below its calculated fair value: price 1,338 KRW, fair value 2,989 KRW, a gap of about +123% (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 290520?
No. The price is what the market pays today (1,338 KRW); the fair value is what the company's own numbers justify (2,989 KRW). For Shindo Eng. Lab. Ltd the two are 1,651 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Shindo Eng. Lab. Ltd worth?
The market values Shindo Eng. Lab. Ltd at about 21.1B KRW (market capitalisation, as of Nov 3, 2026). Per share that is 1,338 KRW; our models calculate a fair value of 2,989 KRW per share.
What do the bullish and bearish scenarios say about 290520?
Our models span a range for Shindo Eng. Lab. Ltd: cautious scenario 2,804 KRW, base 2,989 KRW, optimistic 3,173 KRW per share (as of Nov 3, 2026, price 1,338 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Shindo Eng. Lab. Ltd (290520)?
Balance-sheet figures for Shindo Eng. Lab. Ltd (as of Nov 3, 2026): return on equity −2.1%. They feed the Quality Score of 64/100, which measures business quality independently of the share price.
How far is 290520 from its 52-week high?
Shindo Eng. Lab. Ltd trades at 1,338 KRW, about 60% below its 52-week high of 3,330 KRW and 1% above the low of 1,329 KRW (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of 2,989 KRW is for.
Which stocks are comparable to Shindo Eng. Lab. Ltd?
From the same area (Industrials) we also value SIE, GE Vernova Inc, Eaton Corporation, Parker-Hannifin 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 Shindo Eng. Lab. Ltd stock attractive at the current price?
The data as of Nov 3, 2026: price 1,338 KRW, calculated fair value 2,989 KRW (+123%), Quality Score 64/100, from 15 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 290520 calculated?
We run Shindo Eng. Lab. Ltd through 15 models from 6 families: DCF Models, Earnings-Based, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 2,989 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. Shindo Eng. Lab. Ltd currently trades 55% 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 Shindo Eng. Lab. Ltd (290520)?
The closing price on Nov 9, 2026 was 1,338 KRW. Our model-based fair value is 2,989 KRW, about +123% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Shindo Eng. Lab. Ltd right now?
The price is below even our cautious bear case (2,804 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 (64/100) at a price below fair value, the discount is the argument here, not the business quality. The models converge in a tight band (2,804 KRW to 3,173 KRW), unusually little disagreement for a valuation.
Key figures of Shindo Eng. Lab. Ltd
How large is the market capitalisation of Shindo Eng. Lab. Ltd (290520)?
The market capitalisation of Shindo Eng. Lab. Ltd is 21.1B KRW (≈ $15.6M). 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 Shindo Eng. Lab. Ltd (290520)?
The price-to-sales ratio of Shindo Eng. Lab. Ltd is 0.55 (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 Shindo Eng. Lab. Ltd (290520)?
Earnings per share at Shindo Eng. Lab. Ltd are −69.82 KRW. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Shindo Eng. Lab. Ltd (290520)?
The net margin of Shindo Eng. Lab. Ltd is −2.8% (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 Shindo Eng. Lab. Ltd (290520)?
The return on equity (ROE) of Shindo Eng. Lab. Ltd is −2.1% (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 Shindo Eng. Lab. Ltd (290520)?
On an EBIT basis the return on assets of Shindo Eng. Lab. Ltd is −3.8% (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 Shindo Eng. Lab. Ltd (290520)?
The operating margin of Shindo Eng. Lab. Ltd is −103% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Shindo Eng. Lab. Ltd (290520)?
Revenue at Shindo Eng. Lab. Ltd is growing +917% versus a year earlier (3y avg +13.5%). 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 Shindo Eng. Lab. Ltd (290520)?
Earnings per share at Shindo Eng. Lab. Ltd are growing +2.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Shindo Eng. Lab. Ltd (290520) generate?
The free cash flow of Shindo Eng. Lab. Ltd is −5.2B KRW (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
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Thin data
Nov 3, 2026