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STOCK COMPARISON

Dongil Steel Co. vs Nickel Asia: Fair Value & Quality

Both stocks run through our valuation models. Here is how Dongil Steel Co. (023790) and Nickel Asia (NIKL) compare, as of Oct 5, 2026.

As of Oct 5, 2026, Fair Value Calculator sees Nickel Asia as the more attractively valued of the two: Dongil Steel Co. trades at KRW 1,592 versus a fair value of KRW 1,021 (−35.8%), while Nickel Asia trades at PHP 3.82 versus PHP 4.25 (+11.3%).
Dongil Steel Co.
023790.KQ · KRW · Materials
−35.8%
upside to fair value
overvalued
PriceKRW 1,592
Fair ValueKRW 1,021
Quality41/100
Nickel Asia
NIKL.PSE · PHP · Materials
+11.3%
upside to fair value
undervalued
PricePHP 3.82
Fair ValuePHP 4.25
Quality65/100
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Head-to-head numbers

Green is the better side of a row, red the weaker one (for valuation multiples: lower = cheaper). Grey rows are for reference only and are not scored.

betterweakerfor reference, not scored

Dongil Steel Co.Nickel Asia
Valuation
n/aP/E (TTM)18.1×
n/aMedian P/E at FY-end (10 FY, reported earnings)18.0×
3.2×EV/EBITDAn/a
−35.8%Fair value upside+11.3%
n/aDividend yield12.3%
Profitability
2.2%Operating margin0.0%
n/aEBIT margin trend (5Y)1.07×
0.4%Return on assets0.0%
Growth
-12.7%Revenue growth (YoY)0.0%
-9.3%Avg. growth/yr (3Y)1.9%
1.9%Avg. growth/yr (5Y)6.3%
n/aValue creation/yr+19.6%
Balance & size
0.21×Debt / equity0.22×
$8MMarket cap$850M
weakGrowth qualityexpensive
Nickel Asia, median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings: 18.

Nickel Asia leads: 3 to 4 metric wins.

n/a = 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.

Dongil Steel Co.of which business quality 41 · market factors 26 Nickel Asiaof which business quality 63 · market factors 36
ProfitabilityMargins and returns on capital today
4
56
Quality GrowthAre margins and returns improving?
54
95
CashflowEarnings quality: real cash, not paper profit
29
58
Fin. StrengthBalance sheet, leverage, solvency risk
10
57
InvestmentDisciplined investing over empire-building
100
40
Low VolatilityCalm price path (market factor)
22
0
MomentumPrice trend over the last 3–12 months (market factor)
33
43
52W MomentumDistance to the 52-week high (market factor)
16
67
Net IssuanceShare count: buybacks or dilution?
100
78

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familyDongil Steel Co.Price KRW 1,592Nickel AsiaPrice PHP 3.82
DCF Modelsn/a+30.9%above the pricePHP 5.00
Earnings-Basedn/a+35.7%above the pricePHP 5.19
Dividend Discountn/a+57.1%above the pricePHP 6.00
Multiplesn/a+148.2%above the pricePHP 9.48
Asset-Based−35.0%below the priceKRW 1,034−38.0%below the pricePHP 2.37
Growth DCFn/a−37.4%below the pricePHP 2.39
Economic Profitn/a+59.2%above the pricePHP 6.08
Growth Earningsn/a+116.8%above the pricePHP 8.28
Minimum−35.0%below the priceKRW 1,034−38.0%below the pricePHP 2.37
Maximum−35.0%below the priceKRW 1,034+148.2%above the pricePHP 9.48
Median−35.0%below the priceKRW 1,034+46.4%above the pricePHP 5.59
Geometric mean−35.0%below the priceKRW 1,034+32.1%above the pricePHP 5.05

Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

Dongil Steel Co.: 1 of 1 models see the stock below the current price.

Nickel Asia: 9 of 25 models see the stock below the current price.

Scenario ranges

From our cautious bear scenario to the optimistic bull scenario. The white tick is the current price (value above it), the green tick the fair value (value below it): if the price sits left of the fair value, there is room to rise.

Dongil Steel Co.
Price KRW 1,592
Fair Value KRW 1,021
Bear KRW 762Bull KRW 1,525
Nickel Asia
Price PHP 3.82
Fair Value PHP 4.25
Bear PHP 3.33Bull PHP 6.51

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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.

Dongil Steel Co. · Materials

Quality score41 · below median
Fair value upside−35.8% · below median

Nickel Asia · Materials

Quality score65 · Top 25%
Fair value upside+11.3% · above median

Bottom line

As of Oct 5, 2026, Fair Value Calculator sees Nickel Asia as the more attractively valued of the two: Dongil Steel Co. trades at KRW 1,592 versus a fair value of KRW 1,021 (−35.8%), while Nickel Asia trades at PHP 3.82 versus PHP 4.25 (+11.3%).

Nickel Asia has the higher quality score (65/100).

Open Nickel Asia live analysis →

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.