Asia Paper (002310) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Asia Paper KRW 13,299, price KRW 8,400, upside +58.3%, quality 51 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 5,537 KRW – 11,240 KRW · fair‑value band 9,974 KRW – 14,827 KRW · the 8,400 KRW price screens below the 13,299 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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Asia Paper Manufacturing. Co., Ltd engages in the production and sale of specialized industrial paper in South Korea. It offers corrugated materials and boxes, gypsum linerboards, and kraft papers. The company was founded in 1958 and is based in Seoul, South Korea.
Stock analysis
Asia Paper (002310) currently trades at 8,400 KRW, while our model-based Fair Value estimate is 13,299 KRW, implying the stock looks roughly 36.8% undervalued today.
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Valuation
Bull case: the Asset-Based group reads highest at a median of 14,963 KRW per share, and 10 of the 13 models we run sit above the 8,400 KRW price.
Bear case: the Earnings-Based group reads lowest at 4,685 KRW, and 3 of the 13 models stay below the price. Evidence for this calculation is medium.
Scenario range: 9,974 KRW (bear) to 14,827 KRW (bull), the price of 8,400 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 51/100 (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.
Asia Paper reported revenue of 855B KRW in FY2025 versus 946B KRW in FY2021, a compound −2.5%/yr. Reported net income was 29.6B KRW in FY2025, compounding −24.5%/yr from FY2021.
Key figures
Market cap 326B KRW (≈ $228M) · P/S ratio 0.32 · Dividend yield 3.0% · Net margin 3.5% · Return on equity 3.1% · Return on assets (EBIT) 6.8% · Operating margin 4.6% · Revenue (TTM) 861B KRW.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 35 out of 100 (medium confidence).
What moves the price
The share trades about 25% below its 52-week high and 22% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at 26% fair-value upside, at 58%, 002310 screens cheaper than that median.
Fair Value models
Bear 9,974 KRWFair Value 13,299 KRWBull 14,827 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.26/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−4.0%
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.
−5.8%
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.
+3.2%
Start year 2020 (pandemic). Over 10 years: +3.6% a year
Revenue growth 24 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.
+7.1%
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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.
−32.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year−35.5%
Dividend (yield on the price)3.0%
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.9% → 3%
⚠ Revenue per share shrinking 19.3%/yr over ~6Y (margins eroding too) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
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.Paper & Paper Products · 121 stocks
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). "Asia Paper Fair Value". https://www.fairvalue-calculator.com/stock/002310
Frequently asked questions
Is Asia Paper (002310) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 13,299 KRW versus a price of 8,400 KRW, about +58% upside (undervalued).
What is the fair value of 002310?
Our model-based fair value for Asia Paper is 13,299 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 8,400 KRW.
What is the quality score of 002310?
Asia Paper has a Quality Score of 51/100. 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 Asia Paper (002310)?
Our model-based price target is the fair value of 13,299 KRW (as of Sep 24, 2026) from 13 valuation models. Cautious scenario 9,974 KRW, optimistic scenario 14,827 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Asia Paper stock forecast for 2026?
Our models put fair value at 13,299 KRW, about +58% upside versus a price of 8,400 KRW (undervalued). Cautious scenario 9,974 KRW, optimistic scenario 14,827 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Asia Paper (002310)?
Asia Paper reported trailing-twelve-month revenue of about 861B KRW (latest available figure, as of Sep 24, 2026).
Does Asia Paper pay a dividend?
Asia Paper currently shows a dividend yield of about 2.98% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Asia Paper (002310)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Asia Paper it is 13,299 KRW per share (as of Sep 24, 2026), against a price of 8,400 KRW. It is the blended result of 13 valuation models (cash flow, earnings, asset, dividend).
Is Asia Paper stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 002310 trades below its calculated fair value: price 8,400 KRW, fair value 13,299 KRW, a gap of about +58% (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 002310?
No. The price is what the market pays today (8,400 KRW); the fair value is what the company's own numbers justify (13,299 KRW). For Asia Paper the two are 4,899 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Asia Paper worth?
The market values Asia Paper at about 326B KRW (market capitalisation, as of Sep 24, 2026). Per share that is 8,400 KRW; our models calculate a fair value of 13,299 KRW per share.
What do the bullish and bearish scenarios say about 002310?
Our models span a range for Asia Paper: cautious scenario 9,974 KRW, base 13,299 KRW, optimistic 14,827 KRW per share (as of Sep 24, 2026, price 8,400 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Asia Paper (002310)?
Balance-sheet figures for Asia Paper (as of Sep 24, 2026): return on equity 3.1%. They feed the Quality Score of 51/100, which measures business quality independently of the share price.
How far is 002310 from its 52-week high?
Asia Paper trades at 8,400 KRW, about 25% below its 52-week high of 11,240 KRW and 22% above the low of 6,879 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 13,299 KRW is for.
Which stocks are comparable to Asia Paper?
From the same area (Basic Materials) we also value UPM-Kymmene Oyj, Shandong Sunpaper Co, Nine Dragons Paper (Holdings) Limited, PT Indah Kiat Pulp & Paper Tbk, 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 Asia Paper stock attractive at the current price?
The data as of Sep 24, 2026: price 8,400 KRW, calculated fair value 13,299 KRW (+58%), Quality Score 51/100, from 13 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 002310 calculated?
We run Asia Paper through 13 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 13,299 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. Asia Paper currently trades 58 % 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 Asia Paper (002310)?
The closing price on Sep 23, 2026 was 8,400 KRW. Our model-based fair value is 13,299 KRW, about +58% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Asia Paper right now?
The price is below even our cautious bear case (9,974 KRW). The market is more pessimistic than our downside scenario. Solid quality (51/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of Asia Paper
How large is the market capitalisation of Asia Paper (002310)?
The market capitalisation of Asia Paper is 326B KRW (≈ $228M). 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 Asia Paper (002310)?
The price-to-sales ratio of Asia Paper is 0.32 (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 Asia Paper (002310)?
The dividend yield of Asia Paper is 3.0%. 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 Asia Paper (002310)?
The net margin of Asia Paper is 3.5% (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 Asia Paper (002310)?
The return on equity (ROE) of Asia Paper is 3.1% (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 Asia Paper (002310)?
On an EBIT basis the return on assets of Asia Paper is 6.8% (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 Asia Paper (002310)?
The operating margin of Asia Paper is 4.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Asia Paper (002310)?
Revenue at Asia Paper is growing +2.9% versus a year earlier (3y avg −5.8%). 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 Asia Paper (002310)?
Earnings per share at Asia Paper are growing −30.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Asia Paper (002310) generate?
The free cash flow of Asia Paper is −9.3B 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 Asia Paper (002310) carry?
The net debt of Asia Paper is 17.2B KRW (fiscal year 2020). 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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