Heung-A Shipping Co. Ltd. (003280) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Heung-A Shipping Co. Ltd. KRW 1,970, price KRW 1,777, upside +10.8%, quality 53 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 852.00 KRW – 5,750 KRW · fair‑value band 1,413 KRW – 2,526 KRW · the 1,777 KRW price screens below the 1,970 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 2 fiscal years are left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 24, 2026.
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Heung-A Shipping Co.,Ltd. operates as a marine shipping agency in Korea and internationally. The company also provides container liner and chemical tanker services. It operates through a fleet of chemical tanker ships. The company was founded in 1961 and is headquartered in Seoul, South Korea.
Stock analysis
Heung-A Shipping Co. Ltd. (003280) currently trades at 1,777 KRW, while our model-based Fair Value estimate is 1,970 KRW, implying the stock looks roughly 9.8% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 2,084 KRW per share, and 11 of the 24 models we run sit above the 1,777 KRW price.
Bear case: the Asset-Based group reads lowest at 710.75 KRW, and 13 of the 24 models stay below the price. Evidence for this calculation is medium.
Scenario range: 1,413 KRW (bear) to 2,526 KRW (bull), the price of 1,777 KRW sits inside 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 53/100 (solid quality), in the Industrials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Heung-A Shipping Co. Ltd. reported revenue of 181B KRW in FY2025 versus 81.7B KRW in FY2021, a compound +22.0%/yr. Reported net income was 30.6B KRW in FY2025, compounding +16.8%/yr from FY2021.
Key figures
Market cap 427B KRW (≈ $299M) · P/S ratio 2.59 · Dividend yield 0.2% · Net margin 16.9% · Return on equity 10.9% · Return on assets (EBIT) 4.8% · Operating margin 2.8% · Revenue (TTM) 175B KRW.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (low confidence).
What moves the price
The share trades about 60% below its 52-week high and 14% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at 61% fair-value upside, at 11%, 003280 screens richer than that median.
Fair Value models
Bear 1,413 KRWFair Value 1,970 KRWBull 2,526 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.89/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−3.8%
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.
+0.6%
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.
+15.2%
Start year 2020 (pandemic). Over 10 years: −14.3% 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.
−3.3%
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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. 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.
+13.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+13.2%
Dividend (yield on the price)0.2%
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.−7% → 6%
⚠ Revenue per share shrinking 34.1%/yr over ~6Y (margin trend unclear) ⓘ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.
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).
+3.6%
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 +1.5% a year for the price.
Compare Heung-A Shipping Co. Ltd. with another stock
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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.Marine Shipping · 233 stocks
Beats the industry median on 5/10 measures
A mixed picture versus its industry peers.
Valuation
Quality Score53 · Below median
Fair Value upside+11% · Above median
Profitability
Return on equity (TTM)11% · Above median
Return on assets1% · Bottom 25%
Net margin (TTM)16% · Above median
Operating margin (TTM)3% · Bottom 25%
Growth and dividend
Revenue growth−13% · Bottom 25%
Dividend yield (TTM)0.2% · Bottom 25%
Balance sheet
Debt / equity0.01× · Lowest 25%
Valuation Multiplesvs Marine Shipping median · lower = cheaper
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Is Heung-A Shipping Co. Ltd. (003280) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 1,970 KRW versus a price of 1,777 KRW, about +11% upside (undervalued).
What is the fair value of 003280?
Our model-based fair value for Heung-A Shipping Co. Ltd. is 1,970 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 1,777 KRW.
What is the quality score of 003280?
Heung-A Shipping Co. Ltd. has a Quality Score of 53/100. 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 Heung-A Shipping Co. Ltd. (003280)?
Our model-based price target is the fair value of 1,970 KRW (as of Sep 24, 2026) from 24 valuation models. Cautious scenario 1,413 KRW, optimistic scenario 2,526 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Heung-A Shipping Co. Ltd. stock forecast for 2026?
Our models put fair value at 1,970 KRW, about +11% upside versus a price of 1,777 KRW (undervalued). Cautious scenario 1,413 KRW, optimistic scenario 2,526 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Heung-A Shipping Co. Ltd. (003280)?
Heung-A Shipping Co. Ltd. reported trailing-twelve-month revenue of about 175B KRW (latest available figure, as of Sep 24, 2026).
Does Heung-A Shipping Co. Ltd. pay a dividend?
Heung-A Shipping Co. Ltd. currently shows a dividend yield of about 0.18% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Heung-A Shipping Co. Ltd. (003280)?
For today's price to be fair in a discounted-cash-flow model, Heung-A Shipping Co. Ltd. would have to grow free cash flow by +3.6 % 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 +15.3 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 003280 use?
Our models discount Heung-A Shipping Co. Ltd. at 11.6 %: a base by market capitalisation (small), 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 Heung-A Shipping Co. Ltd. that is +3.6 % 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 Heung-A Shipping Co. Ltd. (003280) delivered so far?
Over the past 5 years revenue at Heung-A Shipping Co. Ltd. grew +15.3 % a year. The price currently implies +3.6 % 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 Heung-A Shipping Co. Ltd. (003280) growing?
The median revenue growth in the sector is +4.6 % a year. That is the yardstick for the growth priced into Heung-A Shipping Co. Ltd. (+3.6 % 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 Heung-A Shipping Co. Ltd. (003280)?
The free-cash-flow yield on the price is 7.22 %: that much free cash flow Heung-A Shipping Co. Ltd. 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 Heung-A Shipping Co. Ltd. (003280)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Heung-A Shipping Co. Ltd. it is 1,970 KRW per share (as of Sep 24, 2026), against a price of 1,777 KRW. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Heung-A Shipping Co. Ltd. stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 003280 trades below its calculated fair value: price 1,777 KRW, fair value 1,970 KRW, a gap of about +11% (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 003280?
No. The price is what the market pays today (1,777 KRW); the fair value is what the company's own numbers justify (1,970 KRW). For Heung-A Shipping Co. Ltd. the two are 192.54 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Heung-A Shipping Co. Ltd. worth?
The market values Heung-A Shipping Co. Ltd. at about 427B KRW (market capitalisation, as of Sep 24, 2026). Per share that is 1,777 KRW; our models calculate a fair value of 1,970 KRW per share.
What do the bullish and bearish scenarios say about 003280?
Our models span a range for Heung-A Shipping Co. Ltd.: cautious scenario 1,413 KRW, base 1,970 KRW, optimistic 2,526 KRW per share (as of Sep 24, 2026, price 1,777 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Heung-A Shipping Co. Ltd. (003280)?
Balance-sheet figures for Heung-A Shipping Co. Ltd. (as of Sep 24, 2026): return on equity 10.9%, debt of 0.01 per unit of equity. They feed the Quality Score of 53/100, which measures business quality independently of the share price.
How far is 003280 from its 52-week high?
Heung-A Shipping Co. Ltd. trades at 1,777 KRW, about 60% below its 52-week high of 4,470 KRW and 14% above the low of 1,564 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 1,970 KRW is for.
Which stocks are comparable to Heung-A Shipping Co. Ltd.?
From the same area (Industrials) we also value Adani Ports and Special Economic Zone Limited, COSCO SHIPPING Holdings, Hapag-Lloyd Aktiengesellschaft,, Shanghai International Port (Group) Co, 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 Heung-A Shipping Co. Ltd. stock attractive at the current price?
The data as of Sep 24, 2026: price 1,777 KRW, calculated fair value 1,970 KRW (+11%), Quality Score 53/100, from 24 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 003280 calculated?
We run Heung-A Shipping Co. Ltd. through 24 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 1,970 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 13.0 % above its aggregate fair value. Heung-A Shipping Co. Ltd. currently trades 11 % 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 Heung-A Shipping Co. Ltd. (003280)?
The closing price on Sep 23, 2026 was 1,777 KRW. Our model-based fair value is 1,970 KRW, about +11% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Heung-A Shipping Co. Ltd. right now?
The price sits in the lower half of our model range, the side with the larger margin of safety. Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.
Key figures of Heung-A Shipping Co. Ltd.
How large is the market capitalisation of Heung-A Shipping Co. Ltd. (003280)?
The market capitalisation of Heung-A Shipping Co. Ltd. is 427B KRW (≈ $299M). 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 Heung-A Shipping Co. Ltd. (003280)?
The price-to-sales ratio of Heung-A Shipping Co. Ltd. is 2.59 (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 Heung-A Shipping Co. Ltd. (003280)?
The dividend yield of Heung-A Shipping Co. Ltd. is 0.2%. 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 Heung-A Shipping Co. Ltd. (003280)?
The net margin of Heung-A Shipping Co. Ltd. is 16.9% (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 Heung-A Shipping Co. Ltd. (003280)?
The return on equity (ROE) of Heung-A Shipping Co. Ltd. is 10.9% (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 Heung-A Shipping Co. Ltd. (003280)?
On an EBIT basis the return on assets of Heung-A Shipping Co. Ltd. is 4.8% (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 Heung-A Shipping Co. Ltd. (003280)?
The operating margin of Heung-A Shipping Co. Ltd. is 2.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Heung-A Shipping Co. Ltd. (003280)?
Revenue at Heung-A Shipping Co. Ltd. is growing −12.6% versus a year earlier (3y avg +0.6%). 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 Heung-A Shipping Co. Ltd. (003280)?
Earnings per share at Heung-A Shipping Co. Ltd. are growing −82.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Heung-A Shipping Co. Ltd. (003280) carry?
The net debt of Heung-A Shipping Co. Ltd. is 61.5B KRW (fiscal year 2020, ≈ 2.0 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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