Union Corporation (000910) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Union Corporation KRW 3,092, price KRW 2,945, upside +5.0%, quality 55 out of 100. Calculated from audited financials with 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, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range 2,535 KRW – 10,479 KRW · fair‑value band 2,297 KRW – 4,518 KRW · the 2,945 KRW price screens below the 3,092 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
Follow Union in your weekly email
Every Wednesday you see whether Union is on track or worth a review, plus price against fair value. Free, up to 3 stocks.
We send you a confirmation link. Unsubscribe with one click.
Union Corporation engages in cement business in South Korea.
Show more
Union Corporation engages in cement business in South Korea. The company offers building materials, such as white Portland cement, tile construction products, plastering and masonry products, flooring products, water proofing and repellents, and additives; refractory materials, including calcium aluminate cement and aggregates; and civil construction materials comprising repair and reinforcing products, and tunnel and underground products. It also provides filtering devices, including filter and screw press, unifilter, fiber filter, and nonpoint pollution reduction equipment; and ozone systems. The company was formerly known as Union White Cement Co., Ltd. and changed its name to Union Corporation in July 1977. Union Corporation was founded in 1952 and is headquartered in Seoul, South Korea.
Stock analysis
Union Corporation (000910) currently trades at 2,945 KRW, while our model-based Fair Value estimate is 3,092 KRW, implying the stock looks roughly 4.8% fairly valued today.
Show more
Valuation
Bull case: the Growth Earnings group reads highest at a median of 19,412 KRW per share, and 20 of the 22 models we run sit above the 2,945 KRW price.
Bear case: the Earnings-Based group reads lowest at 1,631 KRW, and 2 of the 22 models stay below the price. Evidence for this calculation is low.
Scenario range: 2,297 KRW (bear) to 4,518 KRW (bull), the price of 2,945 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 55/100 (solid quality), in the Basic Materials sector.
Weak Growth: Revenue growth is weak: less than 2 % a year.
Union Corporation reported revenue of 202B KRW in FY2025 versus 216B KRW in FY2021, a compound −1.6%/yr. Reported net income was 23.4B KRW in FY2025, compounding +27.7%/yr from FY2021.
Key figures
Market cap 46.0B KRW (≈ $33.8M) · P/S ratio 0.22 · Dividend yield 4.2% · Net margin 11.5% · Return on equity 41.4% · Return on assets (EBIT) 1.6% · Operating margin −1.6% · Revenue (TTM) 197B KRW.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (low confidence).
What moves the price
The share trades about 49% below its 52-week high and 16% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −47% fair-value upside, at 5%, 000910 screens cheaper than that median.
Fair Value models
Bear 2,297 KRWFair Value 3,092 KRWBull 4,518 KRW
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model.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.Evidence ⓘEvidence = 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.40/100
Revenue growth is weak: less than 2 % a year.
Revenue growth 1 year
−7.2%
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.
−4.9%
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.
+1.4%
Start year 2020 (pandemic). Over 10 years: +7.3% a year
Revenue growth 14 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.
+3.1%
’14
’15
’16
’17
’18
’19
’20
’21
’22
’23
’24
’25
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.
+19.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+14.9%
Dividend (yield on the price)4.2%
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.4% → 3%
Growth Forecast
Price in line with expectations
The price assumes about as much growth as the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+3.2%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (South Korea: IMF forecast 2.1% a year to 2030, 2.1% from 2016 to 2025) that is about +1.1% a year for the price.
Price, fair value, quality and upside side by side.
Free, no sign-up
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 · 258 stocks
Beats the industry median on 7/10 measures
Overall it ranks above its industry peers.
Valuation
Quality Score55 · Above median
Fair Value upside+5% · Above median
Profitability
Return on equity (TTM)41% · Top 25%
Return on assets1% · Below median
Net margin (TTM)26% · Top 25%
Operating margin (TTM)−2% · Below median
Growth and dividend
Revenue growth−10% · Bottom 25%
Dividend yield (TTM)4.2% · Above median
Balance sheet
Debt / equity0.10× · Below median
Valuation Multiplesvs Building Materials median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Union Corporation Fair Value". https://www.fairvalue-calculator.com/stock/000910
Frequently asked questions
Is Union Corporation (000910) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 3,092 KRW versus a price of 2,945 KRW, about +5% upside (fairly valued).
What is the fair value of 000910?
Our model-based fair value for Union Corporation is 3,092 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 2,945 KRW.
What is the quality score of 000910?
Union Corporation has a Quality Score of 55/100. 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 Union Corporation (000910)?
Our model-based price target is the fair value of 3,092 KRW (as of Sep 24, 2026) from 22 valuation models. Cautious scenario 2,297 KRW, optimistic scenario 4,518 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Union Corporation stock forecast for 2026?
Our models put fair value at 3,092 KRW, about +5% upside versus a price of 2,945 KRW (fairly valued). Cautious scenario 2,297 KRW, optimistic scenario 4,518 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Union Corporation (000910)?
Union Corporation reported trailing-twelve-month revenue of about 197B KRW (latest available figure, as of Sep 24, 2026).
Does Union Corporation pay a dividend?
Union Corporation currently shows a dividend yield of about 4.24% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Union Corporation (000910)?
For today's price to be fair in a discounted-cash-flow model, Union Corporation would have to grow free cash flow by +3.2 % per year for five years (discount rate 8.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +1.4 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 000910 use?
Our models discount Union Corporation at 8.9 %: a base by market capitalisation (nano), damped by beta 0.13, country premium for South Korea. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Union Corporation that is +3.2 % per year a year over ten years, using the same discount rate (8.9 %) and the same formula as our fair value.
How much growth has Union Corporation (000910) delivered so far?
Over the past 5 years revenue at Union Corporation grew +1.4 % a year. The price currently implies +3.2 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Union Corporation (000910) growing?
The median revenue growth in the sector is +3.3 % a year. That is the yardstick for the growth priced into Union Corporation (+3.2 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Union Corporation (000910)?
The free-cash-flow yield on the price is 24.71 %: that much free cash flow Union Corporation produces per unit of market value. When it exceeds the discount rate of our models (8.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Union Corporation (000910)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Union Corporation it is 3,092 KRW per share (as of Sep 24, 2026), against a price of 2,945 KRW. It is the blended result of 22 valuation models (cash flow, earnings, asset, dividend).
Is Union Corporation stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 000910 trades below its calculated fair value: price 2,945 KRW, fair value 3,092 KRW, a gap of about +5% (fairly valued). 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 000910?
No. The price is what the market pays today (2,945 KRW); the fair value is what the company's own numbers justify (3,092 KRW). For Union Corporation the two are 147.25 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Union Corporation worth?
The market values Union Corporation at about 46.0B KRW (market capitalisation, as of Sep 24, 2026). Per share that is 2,945 KRW; our models calculate a fair value of 3,092 KRW per share.
What do the bullish and bearish scenarios say about 000910?
Our models span a range for Union Corporation: cautious scenario 2,297 KRW, base 3,092 KRW, optimistic 4,518 KRW per share (as of Sep 24, 2026, price 2,945 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Union Corporation (000910)?
Balance-sheet figures for Union Corporation (as of Sep 24, 2026): return on equity 41.4%, debt of 0.10 per unit of equity. They feed the Quality Score of 55/100, which measures business quality independently of the share price.
How far is 000910 from its 52-week high?
Union Corporation trades at 2,945 KRW, about 49% below its 52-week high of 5,755 KRW and 16% above the low of 2,535 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 3,092 KRW is for.
Which stocks are comparable to Union Corporation?
From the same area (Basic Materials) we also value CRH plc, Holcim AG, Vulcan Materials Company, UltraTech Cement Limited, 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 Union Corporation stock attractive at the current price?
The data as of Sep 24, 2026: price 2,945 KRW, calculated fair value 3,092 KRW (+5%), Quality Score 55/100, from 22 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 000910 calculated?
We run Union Corporation through 22 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 3,092 KRW, 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 14.0 % above its aggregate fair value. Union Corporation currently trades 5 % 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 Union Corporation (000910)?
The closing price on Sep 23, 2026 was 2,945 KRW. Our model-based fair value is 3,092 KRW, about +5% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Union Corporation right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range (2,297 KRW to 4,518 KRW) leaves room in how you read the outcome. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Key figures of Union Corporation
How large is the market capitalisation of Union Corporation (000910)?
The market capitalisation of Union Corporation is 46.0B KRW (≈ $33.8M). 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 Union Corporation (000910)?
The price-to-sales ratio of Union Corporation is 0.22 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the dividend yield of Union Corporation (000910)?
The dividend yield of Union Corporation is 4.2%. 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 Union Corporation (000910)?
The net margin of Union Corporation is 11.5% (fiscal year 2025). 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 Union Corporation (000910)?
The return on equity (ROE) of Union Corporation is 41.4% (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 Union Corporation (000910)?
On an EBIT basis the return on assets of Union Corporation is 1.6% (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 Union Corporation (000910)?
The operating margin of Union Corporation is −1.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Union Corporation (000910)?
Revenue at Union Corporation is growing −10.3% versus a year earlier (3y avg −4.9%). 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 Union Corporation (000910)?
Earnings per share at Union Corporation are growing +917% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Union Corporation (000910) carry?
The net debt of Union Corporation is 134B KRW (fiscal year 2025, ≈ 11.8 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
Free · no account needed
Continue in the live analysis
Fair value and trend for 35,000+ stocks, watchlist, comparison and the diversification check. You can also try 14 days of Pro there, no card.
