Korea Cast Pip (000970) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Korea Cast Pip KRW 10,905, price KRW 6,560, upside +66.2%, quality 63 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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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 5,203 KRW – 8,467 KRW · fair‑value band 8,867 KRW – 13,853 KRW · the 6,560 KRW price screens below the 10,905 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.
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Korea Cast Iron Pipe Ind. Co., Ltd. manufactures and sells pipes in South Korea and internationally. The company offers ductile cast iron pipes for water and sewerage, and parts or material-related casting products. It also manufactures and distributes cosmetic products. The company was formerly known as The Korea Machine Casting Manufacturing Co., Ltd.
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Korea Cast Iron Pipe Ind. Co., Ltd. manufactures and sells pipes in South Korea and internationally. The company offers ductile cast iron pipes for water and sewerage, and parts or material-related casting products. It also manufactures and distributes cosmetic products. The company was formerly known as The Korea Machine Casting Manufacturing Co., Ltd. and changed its name to Korea Cast Iron Pipe Ind. Co., Ltd. in February 1962. Korea Cast Iron Pipe Ind. Co., Ltd. was founded in 1953 and is headquartered in Busan, South Korea.
Stock analysis
Korea Cast Pip (000970) currently trades at 6,560 KRW, while our model-based Fair Value estimate is 10,905 KRW, implying the stock looks roughly 39.8% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 13,408 KRW per share, and 20 of the 22 models we run sit above the 6,560 KRW price.
Bear case: the Earnings-Based group reads lowest at 5,764 KRW, and 2 of the 22 models stay below the price. Evidence for this calculation is medium.
Scenario range: 8,867 KRW (bear) to 13,853 KRW (bull), the price of 6,560 KRW sits below 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 63/100 (solid quality), in the Basic Materials sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Korea Cast Pip reported revenue of 407B KRW in FY2026 versus 510B KRW in FY2022, a compound −5.5%/yr. Reported net income was 17.0B KRW in FY2026, compounding −28.7%/yr from FY2022.
Key figures
Market cap 141B KRW (≈ $98.8M) · P/S ratio 0.34 · Dividend yield 6.1% · Net margin 4.2% · Return on equity 4.5% · Return on assets (EBIT) 5.2% · Operating margin 2.7% · Revenue (TTM) 407B KRW.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 41 out of 100 (medium confidence).
What moves the price
The share trades about 11% below its 52-week high and 7% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −45% fair-value upside, at 66%, 000970 screens cheaper than that median.
Fair Value models
Bear 8,867 KRWFair Value 10,905 KRWBull 13,853 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 inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−3.1%
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.
−5.7%
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.
+4.4%
Start year 2021 (pandemic). Over 10 years: +2.0% a year
Revenue growth 18 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.
+6.0%
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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.
+12.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year+6.2%
Dividend (yield on the price)6.1%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.6% vs −4%, picking up
Profit margin 2021 to 2026 ⓘ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%
Start year 2021 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less growth than 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).
−16.2%
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 −17.9% a year for the price.
Price, fair value, quality and upside side by side.
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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.Steel · 415 stocks
Beats the industry median on 7/9 measures
Overall it ranks above its industry peers.
Valuation
Quality Score63 · Top 25%
Fair Value upside+66% · Top 25%
Profitability
Return on equity (TTM)5% · Above median
Return on assets2% · Below median
Net margin (TTM)4% · Above median
Operating margin (TTM)3% · Below median
Growth and dividend
Revenue growth1% · Above median
Dividend yield (TTM)6.1% · Top 25%
Valuation Multiplesvs Steel median · lower = cheaper
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Is Korea Cast Pip (000970) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 10,905 KRW versus a price of 6,560 KRW, about +66% upside (undervalued).
What is the fair value of 000970?
Our model-based fair value for Korea Cast Pip is 10,905 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 6,560 KRW.
What is the quality score of 000970?
Korea Cast Pip has a Quality Score of 63/100. 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 Korea Cast Pip (000970)?
Our model-based price target is the fair value of 10,905 KRW (as of Sep 24, 2026) from 22 valuation models. Cautious scenario 8,867 KRW, optimistic scenario 13,853 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Korea Cast Pip stock forecast for 2026?
Our models put fair value at 10,905 KRW, about +66% upside versus a price of 6,560 KRW (undervalued). Cautious scenario 8,867 KRW, optimistic scenario 13,853 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Korea Cast Pip (000970)?
Korea Cast Pip reported trailing-twelve-month revenue of about 407B KRW (latest available figure, as of Sep 24, 2026).
Does Korea Cast Pip pay a dividend?
Korea Cast Pip currently shows a dividend yield of about 6.10% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Korea Cast Pip (000970)?
For today's price to be fair in a discounted-cash-flow model, Korea Cast Pip would have to grow free cash flow by -16.2 % per year for five years (discount rate 11.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +4.4 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 000970 use?
Our models discount Korea Cast Pip at 11.6 %: a base by market capitalisation (micro), damped by beta 0.37, 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 Korea Cast Pip that is -16.2 % per year a year over ten years, using the same discount rate (11.6 %) and the same formula as our fair value.
How much growth has Korea Cast Pip (000970) delivered so far?
Over the past 5 years revenue at Korea Cast Pip grew +4.4 % a year. The price currently implies -16.2 % 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 Korea Cast Pip (000970) growing?
The median revenue growth in the sector is +4.7 % a year. That is the yardstick for the growth priced into Korea Cast Pip (-16.2 % 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 Korea Cast Pip (000970)?
The free-cash-flow yield on the price is 16.26 %: that much free cash flow Korea Cast Pip produces per unit of market value. When it exceeds the discount rate of our models (11.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Korea Cast Pip (000970)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Korea Cast Pip it is 10,905 KRW per share (as of Sep 24, 2026), against a price of 6,560 KRW. It is the blended result of 22 valuation models (cash flow, earnings, asset, dividend).
Is Korea Cast Pip stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 000970 trades below its calculated fair value: price 6,560 KRW, fair value 10,905 KRW, a gap of about +66% (undervalued). 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 000970?
No. The price is what the market pays today (6,560 KRW); the fair value is what the company's own numbers justify (10,905 KRW). For Korea Cast Pip the two are 4,345 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Korea Cast Pip worth?
The market values Korea Cast Pip at about 141B KRW (market capitalisation, as of Sep 24, 2026). Per share that is 6,560 KRW; our models calculate a fair value of 10,905 KRW per share.
What do the bullish and bearish scenarios say about 000970?
Our models span a range for Korea Cast Pip: cautious scenario 8,867 KRW, base 10,905 KRW, optimistic 13,853 KRW per share (as of Sep 24, 2026, price 6,560 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Korea Cast Pip (000970)?
Balance-sheet figures for Korea Cast Pip (as of Sep 24, 2026): return on equity 4.5%. They feed the Quality Score of 63/100, which measures business quality independently of the share price.
How far is 000970 from its 52-week high?
Korea Cast Pip trades at 6,560 KRW, about 11% below its 52-week high of 7,400 KRW and 7% above the low of 6,150 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 10,905 KRW is for.
Which stocks are comparable to Korea Cast Pip?
From the same area (Basic Materials) we also value Nucor Corporation, Steel Dynamics, Inc, JSW Steel Limited, Tata Steel 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 Korea Cast Pip stock attractive at the current price?
The data as of Sep 24, 2026: price 6,560 KRW, calculated fair value 10,905 KRW (+66%), Quality Score 63/100, 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 000970 calculated?
We run Korea Cast Pip 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 10,905 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 14.1 % above its aggregate fair value. Korea Cast Pip currently trades 66 % 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 Korea Cast Pip (000970)?
The closing price on Sep 23, 2026 was 6,560 KRW. Our model-based fair value is 10,905 KRW, about +66% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Korea Cast Pip right now?
The price is below even our cautious bear case (8,867 KRW). The market is more pessimistic than our downside scenario. Solid quality (63/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of Korea Cast Pip
How large is the market capitalisation of Korea Cast Pip (000970)?
The market capitalisation of Korea Cast Pip is 141B KRW (≈ $98.8M). 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 Korea Cast Pip (000970)?
The price-to-sales ratio of Korea Cast Pip is 0.34 (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 Korea Cast Pip (000970)?
The dividend yield of Korea Cast Pip is 6.1%. 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 Korea Cast Pip (000970)?
The net margin of Korea Cast Pip is 4.2% (fiscal year 2026). 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 Korea Cast Pip (000970)?
The return on equity (ROE) of Korea Cast Pip is 4.5% (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 Korea Cast Pip (000970)?
On an EBIT basis the return on assets of Korea Cast Pip is 5.2% (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 Korea Cast Pip (000970)?
The operating margin of Korea Cast Pip is 2.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Korea Cast Pip (000970)?
Revenue at Korea Cast Pip is growing +0.8% versus a year earlier (3y avg −5.7%). 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 Korea Cast Pip (000970)?
Earnings per share at Korea Cast Pip are growing −30.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Korea Cast Pip (000970) carry?
The net debt of Korea Cast Pip is 3.3B KRW (fiscal year 2020, ≈ 0.1 yrs of FCF). 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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