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Tae Won Mulsan (001420) fair value: what the stock is really worth

As of Sep 23, 2026: fair value of Tae Won Mulsan KRW 4,957, price KRW 2,950, upside +68.0%, quality 47 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? No
  3. Add to watchlist

Consumer Cyclical · KR · ISIN KR7001420009

TW Thin data Sep 24, 2026

Tae Won Mulsan

001420 · KO

Cheap, value-trap riskThe stock looks deeply undervalued, but low quality raises value-trap risk.

✓Fair value 4,957 KRW · Strongly undervalued (+68%)
!Quality 47/100
!Weak Growth (revenue 5y −1.9 %/yr)
!Loss-making · -19.2% net margin (TTM)
!Low debt · negative free cash flow
·6.78% dividend yield
!Mixed vs. peers (4/9)
!Narrow moat 7/100
!Evidence only low, so the estimate is less certain
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

5,543 KRW 2,010 KRW Fair Value 4,957 KRW Apr 2021 Sep 2026

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 2,010 KRW – 5,543 KRW · fair‑value band 3,272 KRW – 6,197 KRW · the 2,950 KRW price screens below the 4,957 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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Company profile

Tae Won Mulsan Co., Ltd. engages in the manufacture and sale of engine water pumps and engine surrounding parts for automobiles.

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Tae Won Mulsan Co., Ltd. engages in the manufacture and sale of engine water pumps and engine surrounding parts for automobiles. The company provides water pumps for farm machines and automobiles; rod and cable type gear shift cover assemblies; shift blocks and front bearing covers for trucks; brackets for transmission mounts; shackles for alternators; EGR adapters; and ECU housing products. It also offers refined phosphate gypsum, gypsum plaster, calcined gypsum, and gypsum resin mortar for use in construction materials. The company was formerly known as Samyang Trading and changed its name to Tae Won Mulsan Co., Ltd. in February 1968. The company was founded in 1955 and is headquartered in Seoul, South Korea.

Stock analysis

Tae Won Mulsan (001420) currently trades at 2,950 KRW, while our model-based Fair Value estimate is 4,957 KRW, implying the stock looks roughly 40.5% undervalued today.

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Valuation

Bull case: the Asset-Based group reads highest at a median of 3,808 KRW per share, and 1 of the 3 models we run sit above the 2,950 KRW price.

Bear case: the Dividend Discount group reads lowest at 1,914 KRW, and 2 of the 3 models stay below the price. Evidence for this calculation is low.

Scenario range: 3,272 KRW (bear) to 6,197 KRW (bull), the price of 2,950 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 47/100 (below-average quality), in the Consumer Cyclical sector.

Weak Growth: Revenue growth is weak: less than 2 % a year.

Tae Won Mulsan reported revenue of 14.9B KRW in FY2025 versus 14.7B KRW in FY2021, a compound +0.3%/yr. Reported net income was −2.3B KRW in FY2025.

Key figures

Market cap 21.6B KRW (≈ $15.9M) · P/S ratio 1.29 · Dividend yield 6.8% · Net margin −15.7% · Return on equity −7.3% · Return on assets (EBIT) −1.8% · Operating margin −19.8% · Revenue (TTM) 15.9B KRW.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 28 out of 100 (low confidence).

What moves the price

The share trades about 18% below its 52-week high and 47% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Consumer Cyclical peers we cover trades at −38% fair-value upside, at 68%, 001420 screens cheaper than that median.

Fair Value models

Bear 3,272 KRW Fair Value 4,957 KRW Bull 6,197 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.
Highest evidence
Gordon GGM 1,756 KRW 1,914 KRW 2,153 KRW 69
DDM Multi-Stage 1,756 KRW 2,170 KRW 2,735 KRW 67
NCAV (Graham) 2,842 KRW 3,808 KRW 5,683 KRW 54
All 3 models by family
Dividend Discount
Gordon GGM 1,756 KRW 1,914 KRW 2,153 KRW 69
DDM Multi-Stage 1,756 KRW 2,170 KRW 2,735 KRW 67
Asset-Based
NCAV (Graham) 2,842 KRW 3,808 KRW 5,683 KRW 54

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Quality Score breakdown

Overall quality 47/100

Of which business quality 49 · Market factors (momentum, volatility) 44

Profitability 4
Margins and returns on capital today
Quality Growth 52
Are margins and returns improving?
Cashflow 33
Earnings quality: real cash, not paper profit
Fin. Strength 78
Balance sheet, leverage, solvency risk
Investment 65
Disciplined investing over empire-building
Low Volatility 51
Calm price path (market factor)
Momentum 43
Price trend over the last 3–12 months (market factor)
52W Momentum 39
Distance to the 52-week high (market factor)
Net Issuance 82
Share count: buybacks or dilution?

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Revenue & earnings trend

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. 6/100
Revenue growth is weak: less than 2 % a year.
Revenue growth 1 year
+28.5%
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.
+10.7%
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.
−1.9%
Start year 2020 (pandemic). Over 10 years: −6.9% a year
Revenue growth 12 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.
−7.5%
Profit margin (trend) ⓘ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.
−3.9% (2020) → −6.6% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

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Compare Tae Won Mulsan with another stock

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.Auto Parts · 692 stocks

Beats the industry median on 4/8 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 47 · Below median
Fair Value upside +68% · Top 25%
Profitability
Return on assets −2% · Bottom 25%
Net margin (TTM) −19% · Bottom 25%
Operating margin (TTM) −20% · Bottom 25%
Growth and dividend
Revenue growth 38% · Top 25%
Dividend yield (TTM) 6.8% · Top 25%
Balance sheet
Debt / equity 0.01× · Lowest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 24
FUTURE (revenue growth)100 · sector 21
PAST (return on equity)0 · sector 28
HEALTH (low debt)100 · sector 95
DIVIDEND (yield)100 · sector 38

Context: sector, industry, market

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

Similar stocks

10 more Auto Parts stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
O'Reilly Automotive, Inc ORLY $85.90 $48.08 −44%
AutoZone, Inc AZO $2,843 $2,368 −17%
Hyundai Mobis Co 012330 367,500 KRW 631,641 KRW +72%
Fuyao Glass Industry Group 600660 ¥53.77 ¥75.79 +41%
Magna International Inc MGA $63.73 $68.17 +7%
Genuine Parts Company GPC $128.76 $58.07 −55%
Samvardhana Motherson International Limited MOTHERSON ₹164.40 ₹96.97 −41%
Ningbo Tuopu Group 601689 ¥45.71 ¥28.28 −38%
Bosch Limited BOSCHLTD ₹47,955 ₹25,325 −47%
Bharat Forge Limited BHARATFORG ₹2,004 ₹407.35 −80%

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Tae Won Mulsan · Fair Value
4,957 KRW +40%Fair Value
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Cite: Fair Value Calculator (2026). "Tae Won Mulsan Fair Value". https://www.fairvalue-calculator.com/stock/001420

Frequently asked questions

Is Tae Won Mulsan (001420) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 4,957 KRW versus a price of 2,950 KRW, about +68% upside (undervalued).
What is the fair value of 001420?
Our model-based fair value for Tae Won Mulsan is 4,957 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 2,950 KRW.
What is the quality score of 001420?
Tae Won Mulsan has a Quality Score of 47/100. 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 Tae Won Mulsan (001420)?
Our model-based price target is the fair value of 4,957 KRW (as of Sep 24, 2026) from 3 valuation models. Cautious scenario 3,272 KRW, optimistic scenario 6,197 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Tae Won Mulsan stock forecast for 2026?
Our models put fair value at 4,957 KRW, about +68% upside versus a price of 2,950 KRW (undervalued). Cautious scenario 3,272 KRW, optimistic scenario 6,197 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Tae Won Mulsan (001420)?
Tae Won Mulsan reported trailing-twelve-month revenue of about 15.9B KRW (latest available figure, as of Sep 24, 2026).
Does Tae Won Mulsan pay a dividend?
Tae Won Mulsan currently shows a dividend yield of about 6.78% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Tae Won Mulsan (001420)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Tae Won Mulsan it is 4,957 KRW per share (as of Sep 24, 2026), against a price of 2,950 KRW. It is the blended result of 3 valuation models (cash flow, earnings, asset, dividend).
Is Tae Won Mulsan stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 001420 trades below its calculated fair value: price 2,950 KRW, fair value 4,957 KRW, a gap of about +68% (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 001420?
No. The price is what the market pays today (2,950 KRW); the fair value is what the company's own numbers justify (4,957 KRW). For Tae Won Mulsan the two are 2,007 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Tae Won Mulsan worth?
The market values Tae Won Mulsan at about 21.6B KRW (market capitalisation, as of Sep 24, 2026). Per share that is 2,950 KRW; our models calculate a fair value of 4,957 KRW per share.
What do the bullish and bearish scenarios say about 001420?
Our models span a range for Tae Won Mulsan: cautious scenario 3,272 KRW, base 4,957 KRW, optimistic 6,197 KRW per share (as of Sep 24, 2026, price 2,950 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Tae Won Mulsan (001420)?
Balance-sheet figures for Tae Won Mulsan (as of Sep 24, 2026): return on equity −7.3%, debt of 0.01 per unit of equity. They feed the Quality Score of 47/100, which measures business quality independently of the share price.
How far is 001420 from its 52-week high?
Tae Won Mulsan trades at 2,950 KRW, about 18% below its 52-week high of 3,610 KRW and 47% above the low of 2,010 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 4,957 KRW is for.
Which stocks are comparable to Tae Won Mulsan?
From the same area (Consumer Cyclical) we also value O'Reilly Automotive, Inc, AutoZone, Inc, Hyundai Mobis Co, Fuyao Glass Industry Group, 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 Tae Won Mulsan stock attractive at the current price?
The data as of Sep 24, 2026: price 2,950 KRW, calculated fair value 4,957 KRW (+68%), Quality Score 47/100, from 3 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 001420 calculated?
We run Tae Won Mulsan through 3 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 4,957 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. Tae Won Mulsan currently trades 68 % 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 Tae Won Mulsan (001420)?
The closing price on Sep 23, 2026 was 2,950 KRW. Our model-based fair value is 4,957 KRW, about +68% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Tae Won Mulsan right now?
The price is below even our cautious bear case (3,272 KRW). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (47/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (3,272 KRW to 6,197 KRW) leaves room in how you read the outcome.

Key figures of Tae Won Mulsan

How large is the market capitalisation of Tae Won Mulsan (001420)?
The market capitalisation of Tae Won Mulsan is 21.6B KRW (≈ $15.9M). 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 Tae Won Mulsan (001420)?
The price-to-sales ratio of Tae Won Mulsan is 1.29 (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 Tae Won Mulsan (001420)?
The dividend yield of Tae Won Mulsan is 6.8%. 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 Tae Won Mulsan (001420)?
The net margin of Tae Won Mulsan is −15.7% (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 Tae Won Mulsan (001420)?
The return on equity (ROE) of Tae Won Mulsan is −7.3% (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 Tae Won Mulsan (001420)?
On an EBIT basis the return on assets of Tae Won Mulsan is −1.8% (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 Tae Won Mulsan (001420)?
The operating margin of Tae Won Mulsan is −19.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Tae Won Mulsan (001420)?
Revenue at Tae Won Mulsan is growing +38.3% versus a year earlier (3y avg +10.7%). 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 Tae Won Mulsan (001420)?
Earnings per share at Tae Won Mulsan are growing −75.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Tae Won Mulsan (001420) generate?
The free cash flow of Tae Won Mulsan is −5.0B KRW (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Tae Won Mulsan (001420) carry?
The net debt of Tae Won Mulsan is 21.3M KRW (fiscal year 2023). 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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