Kumho Ind (002990) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Kumho Ind KRW 22,176, price KRW 13,010, upside +70.5%, quality 62 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 2,267 KRW – 17,310 KRW · fair‑value band 17,435 KRW – 28,398 KRW · the 13,010 KRW price screens below the 22,176 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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KUMHO Engineering & Construction Co., Ltd. provides construction and engineering services in South Korea and internationally.
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KUMHO Engineering & Construction Co., Ltd. provides construction and engineering services in South Korea and internationally. It is involved in the construction and development of architecture projects, such as public/business, airport/sales/logistic, education/research, culture/medical, and correction/military facilities; civil engineering projects, including airport, road, railway, land/port, overseas construction activities, and other civil engineering services; and housing construction projects, comprising apartments, and residential complexes. The company also constructs plant/environment engineering projects that include development, energy, storage/supply, petrochemical, industrial, and environmental facilities. In addition, it engages in the facility management and operation, insurance agency and relay, and purchase of construction materials services. The company was founded in 1960 and is headquartered in Seoul, South Korea.
Stock analysis
Kumho Ind (002990) currently trades at 13,010 KRW, while our model-based Fair Value estimate is 22,176 KRW, implying the stock looks roughly 41.3% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 29,069 KRW per share, and 18 of the 25 models we run sit above the 13,010 KRW price.
Bear case: the Asset-Based group reads lowest at 4,484 KRW, and 7 of the 25 models stay below the price. Evidence for this calculation is medium.
Scenario range: 17,435 KRW (bear) to 28,398 KRW (bull), the price of 13,010 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 62/100 (solid quality), in the Industrials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Kumho Ind reported revenue of 2.0T KRW in FY2025 versus 2.1T KRW in FY2021, a compound −0.6%/yr. Reported net income was 63.9B KRW in FY2025, compounding −18.9%/yr from FY2021.
Key figures
Market cap 471B KRW (≈ $330M) · P/S ratio 0.21 · Dividend yield 1.5% · Net margin 3.2% · Return on equity 32.1% · Return on assets (EBIT) −0.3% · Operating margin 2.7% · Revenue (TTM) 2.0T KRW.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 25% below its 52-week high and 314% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −31% fair-value upside, at 70%, 002990 screens cheaper than that median.
Fair Value models
Bear 17,435 KRWFair Value 22,176 KRWBull 28,398 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.54/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+5.4%
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.
−0.5%
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.
+2.0%
Start year 2020 (pandemic). Over 10 years: +2.8% a year
Revenue growth 25 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.
−1.3%
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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. Basis: EBIT basis. 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.
≈ −11.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year−13.2%
Dividend (yield on the price)1.5%
Profit margin 2021 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.5% → 2%
⚠ Rate on operating basis: 2025 sits 468% above its own trend.
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).
−0.5%
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 −2.5% 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.Engineering & Construction · 836 stocks
Beats the industry median on 5/10 measures
A mixed picture versus its industry peers.
Valuation
Quality Score62 · Top 25%
Fair Value upside+71% · Top 25%
Profitability
Return on equity (TTM)32% · Top 25%
Return on assets2% · Below median
Net margin (TTM)4% · Above median
Operating margin (TTM)3% · Below median
Growth and dividend
Revenue growth−3% · Below median
Dividend yield (TTM)1.5% · Below median
Balance sheet
Debt / equity0.13× · Above median
Valuation Multiplesvs Engineering & Construction median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Kumho Ind Fair Value". https://www.fairvalue-calculator.com/stock/002990
Frequently asked questions
Is Kumho Ind (002990) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 22,176 KRW versus a price of 13,010 KRW, about +70% upside (undervalued).
What is the fair value of 002990?
Our model-based fair value for Kumho Ind is 22,176 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 13,010 KRW.
What is the quality score of 002990?
Kumho Ind has a Quality Score of 62/100. 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 Kumho Ind (002990)?
Our model-based price target is the fair value of 22,176 KRW (as of Sep 24, 2026) from 25 valuation models. Cautious scenario 17,435 KRW, optimistic scenario 28,398 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Kumho Ind stock forecast for 2026?
Our models put fair value at 22,176 KRW, about +70% upside versus a price of 13,010 KRW (undervalued). Cautious scenario 17,435 KRW, optimistic scenario 28,398 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Kumho Ind (002990)?
Kumho Ind reported trailing-twelve-month revenue of about 2.0T KRW (latest available figure, as of Sep 24, 2026).
Does Kumho Ind pay a dividend?
Kumho Ind currently shows a dividend yield of about 1.54% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Kumho Ind (002990)?
For today's price to be fair in a discounted-cash-flow model, Kumho Ind would have to grow free cash flow by -0.5 % 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 +2.0 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 002990 use?
Our models discount Kumho Ind at 11.6 %: a base by market capitalisation (micro), damped by beta 0.49, 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 Kumho Ind that is -0.5 % 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 Kumho Ind (002990) delivered so far?
Over the past 5 years revenue at Kumho Ind grew +2.0 % a year. The price currently implies -0.5 % 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 Kumho Ind (002990) growing?
The median revenue growth in the sector is +4.7 % a year. That is the yardstick for the growth priced into Kumho Ind (-0.5 % 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 Kumho Ind (002990)?
The free-cash-flow yield on the price is 10.70 %: that much free cash flow Kumho Ind 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 Kumho Ind (002990)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Kumho Ind it is 22,176 KRW per share (as of Sep 24, 2026), against a price of 13,010 KRW. It is the blended result of 25 valuation models (cash flow, earnings, asset, dividend).
Is Kumho Ind stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 002990 trades below its calculated fair value: price 13,010 KRW, fair value 22,176 KRW, a gap of about +70% (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 002990?
No. The price is what the market pays today (13,010 KRW); the fair value is what the company's own numbers justify (22,176 KRW). For Kumho Ind the two are 9,166 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Kumho Ind worth?
The market values Kumho Ind at about 471B KRW (market capitalisation, as of Sep 24, 2026). Per share that is 13,010 KRW; our models calculate a fair value of 22,176 KRW per share.
What do the bullish and bearish scenarios say about 002990?
Our models span a range for Kumho Ind: cautious scenario 17,435 KRW, base 22,176 KRW, optimistic 28,398 KRW per share (as of Sep 24, 2026, price 13,010 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Kumho Ind (002990)?
Balance-sheet figures for Kumho Ind (as of Sep 24, 2026): return on equity 32.1%, debt of 0.13 per unit of equity. They feed the Quality Score of 62/100, which measures business quality independently of the share price.
How far is 002990 from its 52-week high?
Kumho Ind trades at 13,010 KRW, about 25% below its 52-week high of 17,310 KRW and 314% above the low of 3,145 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 22,176 KRW is for.
Which stocks are comparable to Kumho Ind?
From the same area (Industrials) we also value Quanta Services, Inc, Vinci SA, Comfort Systems USA, Inc, Larsen & Toubro 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 Kumho Ind stock attractive at the current price?
The data as of Sep 24, 2026: price 13,010 KRW, calculated fair value 22,176 KRW (+70%), Quality Score 62/100, from 25 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 002990 calculated?
We run Kumho Ind through 25 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 22,176 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. Kumho Ind currently trades 70 % 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 Kumho Ind (002990)?
The closing price on Sep 23, 2026 was 13,010 KRW. Our model-based fair value is 22,176 KRW, about +70% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Kumho Ind right now?
The price is below even our cautious bear case (17,435 KRW). The market is more pessimistic than our downside scenario. Solid quality (62/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of Kumho Ind
How large is the market capitalisation of Kumho Ind (002990)?
The market capitalisation of Kumho Ind is 471B KRW (≈ $330M). 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 Kumho Ind (002990)?
The price-to-sales ratio of Kumho Ind is 0.21 (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 Kumho Ind (002990)?
The dividend yield of Kumho Ind is 1.5%. 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 Kumho Ind (002990)?
The net margin of Kumho Ind is 3.2% (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 Kumho Ind (002990)?
The return on equity (ROE) of Kumho Ind is 32.1% (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 Kumho Ind (002990)?
On an EBIT basis the return on assets of Kumho Ind is −0.3% (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 Kumho Ind (002990)?
The operating margin of Kumho Ind is 2.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Kumho Ind (002990)?
Revenue at Kumho Ind is growing −3.1% versus a year earlier (3y avg −0.5%). 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 Kumho Ind (002990)?
Earnings per share at Kumho Ind are growing +762% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Kumho Ind (002990) carry?
The net debt of Kumho Ind is 66.2B KRW (fiscal year 2024, ≈ 1.3 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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