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DL Holdings (000210) Fair Value & Analysis

Basic Materials · KR · Market cap 1.2T KRW

DH DL Holdings 000210 · KO
Price50,900 KRW
Fair Value113,871 KRW
Upside+123.7%
Quality43/100
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Mixed Growth
Loss-making · -1.1% net margin
Moderate debt · generates free cash flow
Mixed vs. peers (4/10)
Narrow moat 24/100
Evidence: Medium Range 25,559 KRW – 113,871 KRW Share as image

Fair value as of: Jul 23, 2026

From 14 valuation models · updated 17 days ago

Share price +14.9% over the past month.

Below-average quality, screening 124% undervalued on our models.

What matters now

  • The large discount to fair value meets weak quality (43/100). That raises the risk this is a value trap rather than a bargain.
  • The model range is unusually wide (25,559 KRW to 113,871 KRW). The outcome hinges heavily on assumptions, so read the point estimate with caution.
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Price vs Fair Value (5 years)

95,790 KRW 28,150 KRW Fair Value 113,871 KRW Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 23, 2026.

How to read this chart

60‑month range 28,150 KRW – 95,790 KRW · fair‑value band 25,559 KRW – 113,871 KRW · the 50,900 KRW price screens below the 113,871 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 23, 2026.

Full chart & analysis →

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Analysis

DL Holdings (000210) currently trades at 50,900 KRW, while our model-based Fair Value estimate is 113,871 KRW, implying the stock looks roughly 123.7% undervalued today. The Quality Score stands at 43/100 (below-average quality), in the Basic Materials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.

Over the trailing twelve months, DL Holdings generated revenue of 5.2T KRW at a net margin of -1.1%. Revenue declined 7.5% year over year. It earns a return on equity of -1.3%. Net debt stands at 4.3T KRW. Fundamentals as of Jul 23, 2026

Our scenario range runs from 25,559 KRW (bear case) to 113,871 KRW (bull case); at 50,900 KRW, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 34% below its 52-week high and 50% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -58% fair-value upside, at 124%, 000210 screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF 12,306 KRW 74,439 KRW 162,919 KRW 80
Rev-Margin DCF 57,617 KRW 126,868 KRW 74
ROIC Compounder 13,537 KRW 33,679 KRW 72
All 14 models by family
DCF Models
FCF DCF 7,073 KRW 72,566 KRW 169,423 KRW 38
Owner Earnings 44,809 KRW 31
5Y Revenue Exit 55,846 KRW 133,605 KRW 39
5Y EBITDA Exit 121,659 KRW 283,869 KRW 464,462 KRW 41
10Y Revenue Exit 50,962 KRW 121,824 KRW 36
10Y EBITDA Exit 78,725 KRW 207,759 KRW 366,103 KRW 37
Earnings-Based
EPV 13,537 KRW 33,679 KRW 59
Multiples
EV/EBIT 44,379 KRW 105,014 KRW 165,649 KRW 53
EV/EBITDA 230,745 KRW 353,502 KRW 476,259 KRW 54
EV/Revenue 47,946 KRW 103,587 KRW 43
Asset-Based
NCAV (Graham) 96,068 KRW 128,731 KRW 192,136 KRW 50
Growth DCF
Growth DCF 12,306 KRW 74,439 KRW 162,919 KRW 80
Rev-Margin DCF 57,617 KRW 126,868 KRW 74
Economic Profit
ROIC Compounder 13,537 KRW 33,679 KRW 72

Widest divergence: Asset-Based (128,731 KRW) versus Earnings-Based (13,537 KRW). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 5.2T KRW
Revenue growth (YoY) -7.5%
Net margin -1.1%
Return on equity -1.3%
Free cash flow 273B KRW FY2025
Operating margin 8.8%
More key figures
EPS growth (YoY) +15.0%
Net debt 4.3T KRW FY2025

Figures from reported company fundamentals · as of Jul 23, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 43/100

Of which business quality 40 · Market factors (momentum, volatility) 41

Profitability 15
Margins and returns on capital today
Quality Growth 24
Are margins and returns improving?
Cashflow 35
Earnings quality: real cash, not paper profit
Fin. Strength 25
Balance sheet, leverage, solvency risk
Investment 95
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 38
Price trend over the last 3–12 months (market factor)
52W Momentum 34
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

DL Holdings CO., LTD., through its subsidiaries, engages in the research and development, manufacture, wholesale, retail, and distribution of petrochemical products in Korea, rest of Asia, the Middle East, Europe, the United States, and internationally.

Full company description

DL Holdings CO., LTD., through its subsidiaries, engages in the research and development, manufacture, wholesale, retail, and distribution of petrochemical products in Korea, rest of Asia, the Middle East, Europe, the United States, and internationally. The company offers polyethylene and related products, adhesives, plastic films, and other chemical products. It also engages in civil engineering, and housing and plants construction; energy business; real estate development, rental, and consulting; investment; operation of hotel; manufacture of automobile parts; and provision of real estate services. DL Holdings CO., LTD. was incorporated in 1939 and is based in Seoul, South Korea.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

DL Holdings reported revenue of 5.3T KRW in FY2025 versus 2.4T KRW in FY2021, a compound +22.2%/yr. Reported net income was −88.0B KRW in FY2025.

Growth Quality 56/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
5.3T KRW
Latest YoY
−5.1%
Avg. growth/yr (3Y)
+1.0%
Avg. growth/yr (5Y)
+27.7%
Avg. growth/yr (25Y)
+1.8%
Revenue +22.2%/yr
FY21 2.4T KRW
FY22 5.2T KRW
FY23 5.0T KRW
FY24 5.6T KRW
FY25 5.3T KRW
Net income
FY21 865B KRW
FY22 60.7B KRW
FY23 −133B KRW
FY24 89.4B KRW
FY25 −88.0B KRW

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Cite: Fair Value Calculator (2026). "DL Holdings Fair Value". https://www.fairvalue-calculator.com/stock/000210

Peer Group

Specialty Chemicals · 676 stocks

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.

Quality Score 43 · Bottom 25%
Fair Value upside +124% · Top 25%
Return on assets 2% · Below median
Net margin (TTM) -1% · Bottom 25%
Operating margin (TTM) 9% · Above median
Revenue growth -8% · Bottom 25%
Debt / equity 1.00× · Higher than 75% of peers

Valuation Multiples vs Specialty Chemicals median · lower = cheaper

P/FCF 0.0× · Cheaper than 75% of peers
EV/EBITDA 3.6× · Cheaper than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 100 · sector 0
FUTURE 0 · sector 19
PAST 0 · sector 23
HEALTH 50 · sector 95
DIVIDEND 0 · sector 25

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Specialty Chemicals stocks, each showing price versus our Fair Value estimate (as of Jul 23, 2026).

Stock Price Fair Value vs Fair Value
Linde plc LIN $489.98 $222.03 -55%
Nan Ya Plastics Corporation 1303 181.50 TWD 255.83 TWD +41%
Wanhua Chemical Group 600309 ¥70.04 ¥68.03 -3%
Novozymes A/S NSISB kr 428.20 kr 179.66 -58%
Asian Paints Limited ASIANPAINT ₹2,689 ₹668.81 -75%
Solar Industries India Limited SOLARINDS ₹18,236 ₹2,793 -85%
Pidilite Industries Limited PIDILITIND ₹1,560 ₹351.84 -77%
PT Chandra Asri Pacific Tbk TPIA 1,805 IDR 2,888 IDR +60%
Linde India Limited LINDEINDIA ₹7,115 ₹757.93 -89%
Berger Paints India Limited BERGEPAINT ₹493.70 ₹164.29 -67%

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Frequently asked questions

Is DL Holdings (000210) overvalued or undervalued?
As of Jul 23, 2026, our model estimates a fair value of 113,871 KRW versus a price of 50,900 KRW, about +124% (undervalued).
What is the fair value of 000210?
Our model-based fair value for DL Holdings is 113,871 KRW (as of Jul 23, 2026), built from audited fundamentals. The current price is 50,900 KRW.
What is the quality score of 000210?
DL Holdings has a Quality Score of 43/100. 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 revenue of DL Holdings (000210)?
DL Holdings reported trailing-twelve-month revenue of about 5.2T KRW (latest available figure, as of Jul 23, 2026).
What is the net profit margin of 000210?
The net profit margin of DL Holdings is about -1.1%, meaning it is currently running at a net loss. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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