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Data-driven stock valuation

Chosun Refractories Co.,Ltd. (462520) fair value: what the stock is really worth

As of Nov 6, 2026: fair value (intrinsic value) of Chosun Refractories Co.,Ltd. stock KRW 9,059, price KRW 10,710, that is 15.4% below the price, quality 51 out of 100. Rating: overvalued. Calculated from audited financials with 16 of our 26 valuation models and 37 quality factors, updated daily.

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Basic Materials KR

CR Chosun Refractories Co.,Ltd. logo Thin data Nov 7, 2026

Chosun Refractories Co.,Ltd.

462520 · KO
Solid, but expensive

Our calculation puts a fair price 15% below what the stock costs today.

Generates free cash flow over the last twelve months
Quality 51/100
Expensive Growth (revenue YoY +6.3 %/yr in KRW)
Loss over the last twelve months · -0.6% net margin (TTM) · fiscal year 2025 0.4%
Fair value 9,059 KRW · Overvalued
9.3% dividend yield · Pays more than it earns
Trails peers (4/11)
Narrow moat 20/100 · thin data
Thin data
⟳ Cyclical⚠ Small free float
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

52,371 KRW 10,710 KRW Fair Value 9,059 KRW Jul 2023 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.

How to read this chart

39‑month range 10,710 KRW – 52,371 KRW · fair‑value band 3,731 KRW – 11,427 KRW · the 10,710 KRW price screens above the 9,059 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.

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Company profile

Chosun Refractories Co.,Ltd. engages in the manufacture and sale of refractory products.

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It offers shaped refractories, such as alumina, fireclay, silicon carbide, special, acid-proof and heat-resistant, insulating fire, and magcarbon; monolithic refractories, including castables, gunning refractories, plastic refractories, ramming mix and induction furnace, blast furnace runner refractories, ladle and turndish refractories, flame-gunning repair refractories, mortar, and casting blocks; slide gate valves, comprising top, collector, porous, and sliding nozzles; and sliding nozzle plates.

The company also provides continuous casting nozzles, such as shroud, long stopper, and submerged nozzle. Chosun Refractories Co.,Ltd. was founded in 1947 and is based in Kwangyang, South Korea.

Stock analysis

Chosun Refractories Co.,Ltd. (462520) currently trades at 10,710 KRW, while our model-based Fair Value estimate is 9,059 KRW, 15% 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 11,943 KRW per share, and 5 of the 16 models we run sit above the 10,710 KRW price.

Bear case: the Asset-Based group reads lowest at 2,081 KRW, and 11 of the 16 models stay below the price. Data coverage for this calculation is low.

Scenario range: 3,731 KRW (bear) to 11,427 KRW (bull), the price of 10,710 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 51/100 (solid quality), in the Basic Materials sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Chosun Refractories Co.,Ltd. reported revenue of 532B KRW in FY2025 versus 279B KRW in FY2023, a compound +38.0%/yr. Reported net income was 2.2B KRW in FY2025, compounding −69.3%/yr from FY2023.

Key figures

Market cap 127B KRW (≈ $93.8M) Micro · P/S ratio 0.25 · EPS (TTM) −266.31 KRW · Dividend yield 9.3% · Net margin −0.6% · Return on equity −1.1% · Return on assets (EBIT) 5.2% (3-year average) · Operating margin 0.8%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 20 out of 100 (low confidence).

What moves the price

The share trades about 33% below its 52-week high and at its 52-week low, currently below its 200-day average.

For context, the median of 10 Basic Materials peers we cover trades at −21% fair-value upside, at −15%, 462520 screens cheaper than that median.

Fair Value models

Bear 3,731 KRW Fair Value 9,059 KRW Bull 11,427 KRW
Price 10,710 KRW · Downside -15.4%
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.
Best data coverage
Residual Income 9,729 KRW 10,434 KRW 11,427 KRW 69
EPV 10,067 KRW 10,981 KRW 11,719 KRW 67
P/E Multiple 2,955 KRW 3,940 KRW 4,925 KRW 63
All 16 models by family
Earnings-Based
Graham-Dodd 1,276 KRW 8,897 KRW 12,485 KRW 57
Lynch FV 2,772 KRW 3,960 KRW 5,149 KRW 55
PEG = 1.0 2,772 KRW 3,960 KRW 5,149 KRW 52
EPV 10,067 KRW 10,981 KRW 11,719 KRW 67
Dividend Discount
Gordon GGM 5,038 KRW 8,289 KRW 10,616 KRW 62
DDM Multi-Stage 5,038 KRW 7,931 KRW 8,931 KRW 61
Multiples
P/E Multiple 2,955 KRW 3,940 KRW 4,925 KRW 63
P/S Multiple 2,392 KRW 3,189 KRW 3,987 KRW 57
P/B Multiple 59,572 KRW 79,429 KRW 99,286 KRW 55
EV/EBIT 8,698 KRW 14,828 KRW 20,959 KRW 60
EV/EBITDA 10,926 KRW 17,800 KRW 24,673 KRW 62
EV/Revenue 3,433 KRW 9,059 KRW 14,684 KRW 47
Asset-Based
NCAV (Graham) 1,374 KRW 2,081 KRW 2,601 KRW 52
Economic Profit
Residual Income 9,729 KRW 10,434 KRW 11,427 KRW 69
ROIC Compounder 10,067 KRW 10,981 KRW 11,719 KRW 63
Growth Earnings
Growth-Adj P/E 3,731 KRW 5,330 KRW 6,930 KRW 61

Open the full fair value analysis →

Quality Score breakdown

Overall quality 51/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 31
How much profit the company makes from its sales and capital
Quality Growth 58
Are margins and returns getting better?
Cashflow 34
Do the profits arrive as real cash?
Financial strength 36
Debt, balance sheet and risk of trouble
Investment 90
Does it invest with discipline instead of growing at any price?
Low Volatility 73
How calm the share price moves, does not count
Price momentum 19
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 4
Distance to the 52-week high, does not count
New shares 80
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

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. 40/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: only 3 usable fiscal years, at least 4 required
not computed

462520 screens overvalued: fair value 15% below the price. Compare with CRH plc →

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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.Building Materials · 257 stocks

Beats the industry median on 4/10 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 51 · Below median
Fair Value upside −15.4% · Below median
Profitability
Return on assets 0.6% · Below median
Net margin (12 months) −0.8% · Below median
Operating margin (12 months) 0.8% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) −7.4% · Below median
Dividend yield (12 months) 9.3% · Top 25%

Valuation Multiplesvs Building Materials median · lower = cheaper

P/B 0.57× · Cheapest 25%
P/S (12 months) 0.34× · Cheapest 25%
EV/EBITDA 3.8× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)13 · sector 30
FUTURE (revenue growth)0 · sector 13
PAST (return on equity)0 · sector 17
HEALTH (low debt)0 · sector 92
DIVIDEND (yield)100 · sector 47

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Building Materials stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
China Jushi Co 600176 ¥27.45 ¥28.04 +2% vs 462520
Heidelberg Materials AG HEI €173.80 €177.49 +2% vs 462520
Holcim AG HOLN CHF 73.26 CHF 66.54 −9% vs 462520
Amrize AG AMRZ $41.87 $35.08 −16% vs 462520
CRH plc CRH $94.81 $75.09 −21% vs 462520
Vulcan Materials Company VMC $282.72 $132.92 −53% vs 462520
Martin Marietta Materials, Inc MLM $518.15 $214.62 −59% vs 462520
Grasim Industries Limited GRASIM ₹3,227 ₹1,245 −61% vs 462520
UltraTech Cement Limited ULTRACEMCO ₹12,450 ₹4,721 −62% vs 462520
James Hardie Industries plc JHX A$41.89 A$10.28 −75% vs 462520

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Chosun Refractories Co.,Ltd.: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Chosun Refractories Co.,Ltd. Fair Value". https://www.fairvalue-calculator.com/stock/462520

Frequently asked questions

Is Chosun Refractories Co.,Ltd. (462520) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of 9,059 KRW versus a price of 10,710 KRW, about 15% lower (overvalued).
What is the fair value of 462520?
Our model-based fair value for Chosun Refractories Co.,Ltd. is 9,059 KRW (as of Nov 7, 2026), built from audited fundamentals. The current price: 10,710 KRW.
What is the quality score of 462520?
Chosun Refractories Co.,Ltd. has a Quality Score of 51/100. 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 Chosun Refractories Co.,Ltd. (462520)?
Our model-based price target is the fair value of 9,059 KRW (as of Nov 7, 2026) from 16 valuation models. Cautious scenario 3,731 KRW, optimistic scenario 11,427 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Chosun Refractories Co.,Ltd. stock forecast for 2026?
Our models put fair value at 9,059 KRW, about 15% lower versus a price of 10,710 KRW (overvalued). Cautious scenario 3,731 KRW, optimistic scenario 11,427 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Chosun Refractories Co.,Ltd. (462520)?
Chosun Refractories Co.,Ltd. reported trailing-twelve-month revenue of about 523B KRW (latest available figure, as of Nov 7, 2026).
Does Chosun Refractories Co.,Ltd. pay a dividend?
Chosun Refractories Co.,Ltd. currently shows a dividend yield of 9.34% relative to its recent price (as of Nov 7, 2026).
How much is the dividend of Chosun Refractories Co.,Ltd. (462520) and when is the ex-dividend date?
Chosun Refractories Co.,Ltd. pays a dividend of 1,000 KRW per share a year, a dividend yield of 9.3%. The last ex-dividend date was Jul 14, 2026. Our assessment: Pays more than it earns. The company pays out more in dividends than it earns, and free cash flow clearly does not cover the dividend either. It may need to be cut unless profits recover.
What is the intrinsic value of Chosun Refractories Co.,Ltd. (462520)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Chosun Refractories Co.,Ltd. it is 9,059 KRW per share (as of Nov 7, 2026), against a price of 10,710 KRW. It is the blended result of 16 valuation models in 6 families (Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is Chosun Refractories Co.,Ltd. stock overvalued or undervalued in 2026?
As of Nov 7, 2026, 462520 trades above its calculated fair value: price 10,710 KRW, fair value 9,059 KRW, a gap of about −15% (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 462520?
No. The price is what the market pays today (10,710 KRW); the fair value is what the company's own numbers justify (9,059 KRW). For Chosun Refractories Co.,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 Chosun Refractories Co.,Ltd. worth?
The market values Chosun Refractories Co.,Ltd. at about 127B KRW (market capitalisation, as of Nov 7, 2026). Per share that is 10,710 KRW; our models calculate a fair value of 9,059 KRW per share.
What do the bullish and bearish scenarios say about 462520?
Our models span a range for Chosun Refractories Co.,Ltd.: cautious scenario 3,731 KRW, base 9,059 KRW, optimistic 11,427 KRW per share (as of Nov 7, 2026, price 10,710 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Chosun Refractories Co.,Ltd. (462520)?
Balance-sheet figures for Chosun Refractories Co.,Ltd. (as of Nov 7, 2026): return on equity −1.1%. They feed the Quality Score of 51/100, which measures business quality independently of the share price.
How far is 462520 from its 52-week high?
Chosun Refractories Co.,Ltd. trades at 10,710 KRW, about 33% below its 52-week high of 15,990 KRW and at the low of 10,710 KRW (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 9,059 KRW is for.
Which stocks are comparable to Chosun Refractories Co.,Ltd.?
From the same area (Basic Materials) we also value CRH plc, Holcim AG, Martin Marietta Materials, Inc, Vulcan Materials Company, 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 Chosun Refractories Co.,Ltd. stock attractive at the current price?
The data as of Nov 7, 2026: price 10,710 KRW, calculated fair value 9,059 KRW (−15%), Quality Score 51/100, from 16 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 462520 calculated?
We run Chosun Refractories Co.,Ltd. through 16 models from 6 families: Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 9,059 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. Chosun Refractories 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 Chosun Refractories Co.,Ltd. (462520)?
The closing price on Nov 6, 2026 was 10,710 KRW. Our model-based fair value is 9,059 KRW, about 15% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Chosun Refractories Co.,Ltd. right now?
The model range is unusually wide (3,731 KRW to 11,427 KRW). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid but not exceptional quality (51/100) and above fair value, neither a clear bargain nor a standout compounder. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Key figures of Chosun Refractories Co.,Ltd.

How large is the market capitalisation of Chosun Refractories Co.,Ltd. (462520)?
The market capitalisation of Chosun Refractories Co.,Ltd. is 127B KRW (≈ $93.8M). 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 Chosun Refractories Co.,Ltd. (462520)?
The price-to-sales ratio of Chosun Refractories Co.,Ltd. is 0.25 (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 Chosun Refractories Co.,Ltd. (462520)?
Earnings per share at Chosun Refractories Co.,Ltd. are −266.31 KRW. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Chosun Refractories Co.,Ltd. (462520)?
The dividend yield of Chosun Refractories Co.,Ltd. is 9.3%. 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 Chosun Refractories Co.,Ltd. (462520)?
The net margin of Chosun Refractories Co.,Ltd. is −0.6% (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 Chosun Refractories Co.,Ltd. (462520)?
The return on equity (ROE) of Chosun Refractories Co.,Ltd. is −1.1% (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 Chosun Refractories Co.,Ltd. (462520)?
On an EBIT basis the return on assets of Chosun Refractories Co.,Ltd. is 5.2% (avg 3y). 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 Chosun Refractories Co.,Ltd. (462520)?
The operating margin of Chosun Refractories Co.,Ltd. is 0.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Chosun Refractories Co.,Ltd. (462520)?
Revenue at Chosun Refractories Co.,Ltd. is growing −7.4% versus a year earlier. 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 Chosun Refractories Co.,Ltd. (462520)?
Earnings per share at Chosun Refractories Co.,Ltd. are growing +129% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Chosun Refractories Co.,Ltd. (462520) generate?
The free cash flow of Chosun Refractories Co.,Ltd. is −3.9B 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 Chosun Refractories Co.,Ltd. (462520) carry?
The net debt of Chosun Refractories Co.,Ltd. is 160B 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.
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