Heungkuk F&M I vs Progressive: Fair Value & Quality
Both stocks run through our valuation models. Here is how Heungkuk F&M I (000540) and Progressive (PGR) compare, as of Aug 10, 2026.
As of Aug 10, 2026, Fair Value Calculator sees Progressive as the more attractively valued of the two: Heungkuk F&M I trades at KRW 3,315 versus a fair value of KRW 2,530 (-24%), while Progressive trades at $215 versus $253 (+17%).
Heungkuk F&M I
000540.KO · KRW · Financials
-24%
upside to fair value
overvalued
PriceKRW 3,315
Fair ValueKRW 2,530
Quality62/100
Progressive
PGR · USD · Financials
+17%
upside to fair value
undervalued
Price$215
Fair Value$253
Quality65/100
Head-to-head numbers
Green value = the better side for that row (for valuation multiples: lower = cheaper).
Heungkuk F&M IProgressive
Valuation
—P/E (TTM)11.7×
—P/S (TTM)1.50×
—P/B4.43×
—EV/EBITDA9.3×
—PEG35.19×
—Dividend yield0.2%
—Dividend per share$0.40
Profitability
3%Net margin13%
14%Operating margin16%
15%Return on equity38%
2%Return on assets8%
Growth
12%Revenue growth (YoY)9%
5.7%Avg. growth/yr (3Y)20.9%
0.8%Avg. growth/yr (5Y)15.5%
Balance & size
0.32×Debt / equity0.23×
$143MMarket cap$134B
weakGrowth qualitymixed
Progressive leads: 1 to 7 metric wins.
Dash = not meaningfully computable, for example with negative equity.
Quality in detail
The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.
Heungkuk F&M Iof which business quality 57 · market factors 23Progressiveof which business quality 64 · market factors 58
ProfitabilityMargins and returns on capital today
28
61
Quality GrowthAre margins and returns improving?
66
64
CashflowEarnings quality: real cash, not paper profit
InvestmentDisciplined investing over empire-building
100
37
Low VolatilityCalm price path (market factor)
50
88
MomentumPrice trend over the last 3–12 months (market factor)
15
48
52W MomentumDistance to the 52-week high (market factor)
4
41
Net IssuanceBuybacks instead of dilution
82
81
What the models say
The median fair value (base case) per model family, each in the currency of its trading venue. Green = above the current price, red = below.
Heungkuk F&M I
MultiplesKRW 24,466
Asset-BasedKRW 8,728
Economic ProfitKRW 21,144
0 of 4 models see the stock below the current price.
Progressive
Multiples$163
Asset-Based$34.90
Economic Profit$211
3 of 4 models see the stock below the current price.
Scenario ranges
From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.
Heungkuk F&M I
Bear KRW 1,898Fair Value KRW 2,530Bull KRW 3,163
KRW 3,315 = current price (white tick)
Progressive
Bear $189Fair Value $253Bull $316
$215 = current price (white tick)
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Ranked within their sector
Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.
Heungkuk F&M I · Financials
Quality score62 · above median
Fair value upside-24% · below median
Progressive · Financials
Quality score65 · Top 25%
Fair value upside+17% · above median
Bottom line
As of Aug 10, 2026, Fair Value Calculator sees Progressive as the more attractively valued of the two: Heungkuk F&M I trades at KRW 3,315 versus a fair value of KRW 2,530 (-24%), while Progressive trades at $215 versus $253 (+17%).
Progressive has the higher quality score (65/100).
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A model-based valuation snapshot from 21 models. Values change with price and fundamentals; the date shown above applies.
