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Tongyang Inc (001520) Fair Value & Analysis

Basic Materials · KR · Market cap 117B KRW

TI Tongyang Inc 001520 · KO
Price1,120 KRW
Fair Value1,916 KRW
Upside+71.0%
Quality39/100
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Weak Growth
Thin margins · 6.2% net margin
Low debt · negative free cash flow
Trails peers (3/8)
Narrow moat 27/100
Evidence: Medium Range 1,341 KRW – 2,490 KRW Share as image

Fair value as of: Jul 22, 2026

From 10 valuation models · updated 19 days ago

Fair value updated Jul 22, 2026, revised from 1,090 KRW to 1,916 KRW (+75.8%) since Jun 25, 2026. Share price +1.8% over the past month.

Below-average quality, screening 71% undervalued on our models.

What matters now

  • The large discount to fair value meets weak quality (39/100). That raises the risk this is a value trap rather than a bargain.
  • The price is below even our cautious bear case (1,341 KRW). The market is more pessimistic than our downside scenario.
  • A fairly wide model range (1,341 KRW to 2,490 KRW) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

4,797 KRW 980.00 KRW Fair Value 1,916 KRW Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 22, 2026.

How to read this chart

60‑month range 980.00 KRW – 4,797 KRW · fair‑value band 1,341 KRW – 2,490 KRW · the 1,120 KRW price screens below the 1,916 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 22, 2026.

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Analysis

Tongyang Inc (001520) currently trades at 1,120 KRW, while our model-based Fair Value estimate is 1,916 KRW, implying the stock looks roughly 71.0% undervalued today. The Quality Score stands at 39/100 (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, Tongyang Inc generated revenue of 600B KRW at a net margin of 6.2%. Revenue declined 19.8% year over year. It earns a return on equity of 5.2%. Net debt stands at 497B KRW. Fundamentals as of Jul 22, 2026

Our scenario range runs from 1,341 KRW (bear case) to 2,490 KRW (bull case); at 1,120 KRW, the current price sits below 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 16% below its 52-week high and 107% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -59% fair-value upside, at 71%, 001520 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 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
Highest evidence
Residual Income 4,371 KRW 4,228 KRW 3,521 KRW 76
Gordon GGM 589.52 KRW 770.46 KRW 954.71 KRW 70
Growth-Adj P/E 1,523 KRW 2,175 KRW 2,828 KRW 68
All 10 models by family
DCF Models
Owner Earnings 1,046 KRW 1,920 KRW 3,472 KRW 31
Earnings-Based
Graham-Dodd 1,140 KRW 2,049 KRW 2,527 KRW 54
Dividend Discount
Gordon GGM 589.52 KRW 770.46 KRW 954.71 KRW 70
DDM Multi-Stage 589.52 KRW 805.43 KRW 1,065 KRW 61
Multiples
P/E Multiple 2,138 KRW 2,850 KRW 3,563 KRW 63
P/S Multiple 2,138 KRW 2,850 KRW 3,563 KRW 58
P/B Multiple 2,138 KRW 2,850 KRW 3,563 KRW 55
Asset-Based
NCAV (Graham) 3,034 KRW 4,066 KRW 6,069 KRW 50
Economic Profit
Residual Income 4,371 KRW 4,228 KRW 3,521 KRW 76
Growth Earnings
Growth-Adj P/E 1,523 KRW 2,175 KRW 2,828 KRW 68

Widest divergence: Economic Profit (4,228 KRW) versus Dividend Discount (770.46 KRW). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 600B KRW
Revenue growth (YoY) -19.8%
Net margin 6.2%
Return on equity 5.2%
Free cash flow −25.1B KRW FY2025
Operating margin -7.0%
More key figures
EPS growth (YoY) +38.8%
Net debt 497B KRW FY2025

Figures from reported company fundamentals · as of Jul 22, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 39/100

Of which business quality 37 · Market factors (momentum, volatility) 20

Profitability 21
Margins and returns on capital today
Quality Growth 26
Are margins and returns improving?
Cashflow 5
Earnings quality: real cash, not paper profit
Fin. Strength 37
Balance sheet, leverage, solvency risk
Investment 77
Disciplined investing over empire-building
Low Volatility 38
Calm price path (market factor)
Momentum 11
Price trend over the last 3–12 months (market factor)
52W Momentum 13
Distance to the 52-week high (market factor)
Net Issuance 84
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

Tongyang Inc. manufactures and sells ready-mixed concrete materials. It manufactures and distributes construction materials, such as ready-mixed concrete and aggregates; and distributes construction materials, including ready-mixed concrete, steel reinforcement, thermal insulation materials, tiles, sanitary wares, and plaster boards.

Full company description

Tongyang Inc. manufactures and sells ready-mixed concrete materials. It manufactures and distributes construction materials, such as ready-mixed concrete and aggregates; and distributes construction materials, including ready-mixed concrete, steel reinforcement, thermal insulation materials, tiles, sanitary wares, and plaster boards. The company is also involved in housing construction projects for apartments, high-end residential facilities, and town houses; civil engineering activities, including the development of traffic facilities, such as roads and harbors, as well as living facilities; construction of building, shopping complexes, and residences; and remodeling services for greens, commercial real estate and apartments. In addition, it engages in designing, equipment supply, construction, and operation of cement plants, power plants, iron works, and chemical plants; centrifugal and axial fan, and blower; and environmental equipment. The company was formerly known as Tongyang Major Corporation and changed its name to Tongyang Inc. in March 2011. Tongyang Inc. was founded in 1955 and is headquartered in Seoul, South Korea.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Tongyang Inc reported revenue of 631B KRW in FY2025 versus 700B KRW in FY2021, a compound −2.6%/yr. Reported net income was 20.1B KRW in FY2025, compounding +5.5%/yr from FY2021.

Growth Quality 13/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
631B KRW
Latest YoY
−16.0%
Avg. growth/yr (3Y) 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.
−6.3%
Avg. growth/yr (5Y) 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.
+0.9%
Avg. growth/yr (25Y) 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.
−7.0%
Revenue −2.6%/yr
FY21 700B KRW
FY22 768B KRW
FY23 866B KRW
FY24 750B KRW
FY25 631B KRW
Net income +5.5%/yr
FY21 16.2B KRW
FY22 −4.4B KRW
FY23 18.2B KRW
FY24 −74.2B KRW
FY25 20.1B KRW

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Cite: Fair Value Calculator (2026). "Tongyang Inc Fair Value". https://www.fairvalue-calculator.com/stock/001520

Peer Group

Building Materials · 253 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 39 · Bottom 25%
Fair Value upside +71% · Top 25%
Return on equity (TTM) 5% · Above median
Return on assets -1% · Bottom 25%
Net margin (TTM) 6% · Above median
Operating margin (TTM) -7% · Bottom 25%
Revenue growth -20% · Bottom 25%
Debt / equity 0.31× · Higher than median

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 27
FUTURE 0 · sector 2
PAST 21 · sector 15
HEALTH 85 · sector 92
DIVIDEND 0 · sector 42

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 Building Materials stocks, each showing price versus our Fair Value estimate (as of Jul 22, 2026).

Stock Price Fair Value vs Fair Value
CRH plc CRH $102.92 $70.57 -31%
UltraTech Cement Limited ULTRACEMCO ₹11,711 ₹4,719 -60%
China Jushi Co 600176 ¥54.52 ¥13.95 -74%
Grasim Industries Limited GRASIM ₹3,073 ₹1,245 -59%
CEMEX, S.A. CEMEXCPO 21.71 MXN 15.42 MXN -29%
Anhui Conch Cement Company 600585 ¥16.99 ¥26.14 +54%
Ambuja Cements Limited AMBUJACEM ₹435.25 ₹227.96 -48%
Shree Cement Limited SHREECEM ₹26,930 ₹8,215 -69%
TCC Group 1101B 43.70 TWD 10.48 TWD -76%
Taiwan Glass Ind. Corp 1802 53.30 TWD 13.98 TWD -74%

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Frequently asked questions

Is Tongyang Inc (001520) overvalued or undervalued?
As of Jul 22, 2026, our model estimates a fair value of 1,916 KRW versus a price of 1,120 KRW, about +71% (undervalued).
What is the fair value of 001520?
Our model-based fair value for Tongyang Inc is 1,916 KRW (as of Jul 22, 2026), built from audited fundamentals. The current price is 1,120 KRW.
What is the quality score of 001520?
Tongyang Inc has a Quality Score of 39/100. 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 Tongyang Inc (001520)?
Tongyang Inc reported trailing-twelve-month revenue of about 600B KRW (latest available figure, as of Jul 22, 2026).
What is the net profit margin of 001520?
The net profit margin of Tongyang Inc is about 6.2%, meaning it keeps roughly 6.2% of revenue as net income. 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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