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Hankook Furniture Co (004590) Fair Value & Analysis

Consumer Cyclical · KR · Market cap 78.6B KRW

HF Hankook Furniture Co 004590 · KQ
Price5,500 KRW
Fair Value14,904 KRW
Upside+171.0%
Quality59/100
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Mixed Growth
Thin margins · 9.5% net margin
Low debt · generates free cash flow
3.91% dividend yield
Ranks above peers (10/10)
Narrow moat 44/100
Evidence: High Range 10,747 KRW – 18,817 KRW Share as image

Fair value as of: Aug 13, 2026

From 24 valuation models · updated today

Fair value updated Aug 13, 2026, revised from 15,593 KRW to 14,904 KRW (−4.4%) since Jul 20, 2026. Share price +2.8% over the past month.

A solid business, screening 171% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (10,747 KRW). The market is more pessimistic than our downside scenario.
  • Solid quality (59/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

7,980 KRW 3,230 KRW Fair Value 14,904 KRW Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range 3,230 KRW – 7,980 KRW · fair‑value band 10,747 KRW – 18,817 KRW · the 5,500 KRW price screens below the 14,904 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Hankook Furniture Co (004590) currently trades at 5,500 KRW, while our model-based Fair Value estimate is 14,904 KRW, implying the stock looks roughly 171.0% undervalued today. The Quality Score stands at 59/100 (solid quality), in the Consumer Cyclical 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: high), always confirm before acting.

Over the trailing twelve months, Hankook Furniture Co generated revenue of 151B KRW at a net margin of 9.5%. Revenue grew 27.6% year over year. It earns a return on equity of 7.3%. Net debt stands at 4.9B KRW. Fundamentals as of Aug 13, 2026

Our scenario range runs from 10,747 KRW (bear case) to 18,817 KRW (bull case); at 5,500 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 36% below its 52-week high and 26% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 8% fair-value upside, at 171%, 004590 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
Growth DCF 6,449 KRW 10,630 KRW 17,588 KRW 80
Residual Income 10,697 KRW 11,310 KRW 12,283 KRW 76
Rev-Margin DCF 7,746 KRW 13,293 KRW 20,305 KRW 74
All 24 models by family
DCF Models
FCF DCF 6,465 KRW 10,940 KRW 18,540 KRW 38
Owner Earnings 12,452 KRW 21,478 KRW 36,809 KRW 31
5Y Revenue Exit 7,746 KRW 13,462 KRW 21,212 KRW 39
5Y EBITDA Exit 9,436 KRW 16,885 KRW 26,185 KRW 41
5Y P/E Exit 12,196 KRW 22,474 KRW 34,166 KRW 38
10Y Revenue Exit 6,991 KRW 12,253 KRW 20,259 KRW 36
10Y EBITDA Exit 8,370 KRW 14,737 KRW 24,352 KRW 37
10Y P/E Exit 10,186 KRW 18,791 KRW 30,919 KRW 35
Earnings-Based
Graham-Dodd 6,470 KRW 28,171 KRW 38,532 KRW 54
Lynch FV 7,253 KRW 10,362 KRW 13,470 KRW 50
PEG = 1.0 7,253 KRW 10,362 KRW 13,470 KRW 46
EPV 9,740 KRW 11,266 KRW 12,602 KRW 59
Multiples
P/E Multiple 15,700 KRW 20,933 KRW 26,166 KRW 63
P/S Multiple 8,497 KRW 11,329 KRW 14,162 KRW 58
P/B Multiple 12,132 KRW 16,176 KRW 20,219 KRW 55
EV/EBIT 16,361 KRW 21,622 KRW 26,882 KRW 53
EV/EBITDA 11,813 KRW 15,557 KRW 19,302 KRW 54
EV/Revenue 8,510 KRW 11,909 KRW 15,308 KRW 43
Asset-Based
NCAV (Graham) 6,551 KRW 8,778 KRW 13,102 KRW 50
Growth DCF
Growth DCF 6,449 KRW 10,630 KRW 17,588 KRW 80
Rev-Margin DCF 7,746 KRW 13,293 KRW 20,305 KRW 74
Economic Profit
Residual Income 10,697 KRW 11,310 KRW 12,283 KRW 76
ROIC Compounder 9,740 KRW 11,266 KRW 12,602 KRW 72
Growth Earnings
Growth-Adj P/E 12,360 KRW 17,658 KRW 22,955 KRW 68

Widest divergence: Growth Earnings (17,658 KRW) versus Asset-Based (8,778 KRW). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 151B KRW
Revenue growth (YoY) +27.6%
Net margin 9.5%
Return on equity 7.3%
Free cash flow 7.0B KRW FY2025
Operating margin 13.7%
More key figures
Dividend yield 3.9%
EPS growth (YoY) +1.9%
Net debt 4.9B KRW FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 59/100

Of which business quality 58 · Market factors (momentum, volatility) 42

Profitability 39
Margins and returns on capital today
Quality Growth 42
Are margins and returns improving?
Cashflow 38
Earnings quality: real cash, not paper profit
Fin. Strength 79
Balance sheet, leverage, solvency risk
Investment 80
Disciplined investing over empire-building
Low Volatility 60
Calm price path (market factor)
Momentum 37
Price trend over the last 3–12 months (market factor)
52W Momentum 32
Distance to the 52-week high (market factor)
Net Issuance 82
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

Hankook Furniture Co., Ltd. designs, manufactures, and sells furniture in South Korea. The company offers bed, mattress, other furniture, sofas, cocktail tables, armchair, storage, tables, chairs, stools, sideboard, desk, office chairs, and bookcases under the Roche bobois, Kartell, MDF ITALIA, Flou, GTV, Nicoline, Gealux, Norr11, Mattiazzi, Acerbis brand …

Full company description

Hankook Furniture Co., Ltd. designs, manufactures, and sells furniture in South Korea. The company offers bed, mattress, other furniture, sofas, cocktail tables, armchair, storage, tables, chairs, stools, sideboard, desk, office chairs, and bookcases under the Roche bobois, Kartell, MDF ITALIA, Flou, GTV, Nicoline, Gealux, Norr11, Mattiazzi, Acerbis brand names. It also exports its products. Hankook Furniture Co., Ltd. was founded in 1966 and is based in Seoul, South Korea.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Hankook Furniture Co reported revenue of 142B KRW in FY2025 versus 93.0B KRW in FY2021, a compound +11.1%/yr. Reported net income was 14.3B KRW in FY2025, compounding −10.1%/yr from FY2021.

Growth Quality 75/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
142B KRW
Latest YoY
+10.0%
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.
+12.0%
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.
+13.4%
Avg. growth/yr (15Y) 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.
+9.7%
Revenue +11.1%/yr
FY21 93.0B KRW
FY22 101B KRW
FY23 103B KRW
FY24 129B KRW
FY25 142B KRW
Net income −10.1%/yr
FY21 21.9B KRW
FY22 11.8B KRW
FY23 11.0B KRW
FY24 16.0B KRW
FY25 14.3B KRW

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Cite: Fair Value Calculator (2026). "Hankook Furniture Co Fair Value". https://www.fairvalue-calculator.com/stock/004590

Peer Group

Furnishings, Fixtures & Appliances · 317 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 59 · Above median
Fair Value upside +171% · Top 25%
Return on equity (TTM) 7% · Above median
Return on assets 4% · Above median
Net margin (TTM) 9% · Top 25%
Operating margin (TTM) 14% · Top 25%
Revenue growth 28% · Top 25%
Dividend yield (TTM) 3.9% · Above median

Valuation Multiples vs Furnishings, Fixtures & Appliances median · lower = cheaper

P/FCF 0.0× · Cheaper than 75% of peers

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 18
FUTURE 100 · sector 0
PAST 29 · sector 19
HEALTH 100 · sector 98
DIVIDEND 78 · sector 52

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 Furnishings, Fixtures & Appliances stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Midea Group 000333 ¥84.34 ¥99.66 +18%
Gree Electric Appliances, Inc 000651 ¥40.23 ¥86.91 +116%
Haier Smart Home Co 600690 ¥21.79 ¥36.04 +65%
King Slide Works Co 2059 12,045 TWD 1,917 TWD -84%
Guangdong Songfa Ceramics Co 603268 ¥173.26 ¥38.83 -78%
Hisense Home Appliances Group 000921 ¥27.69 ¥50.62 +83%
Ecovacs Robotics Co 603486 ¥57.74 ¥54.14 -6%
Zhejiang Supor Co 002032 ¥41.68 ¥44.84 +8%
COWAY Co 021240 97,200 KRW 103,928 KRW +7%
Voltas Limited VOLTAS ₹1,290 ₹152.27 -88%

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Frequently asked questions

Is Hankook Furniture Co (004590) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 14,904 KRW versus a price of 5,500 KRW, about +171% (undervalued).
What is the fair value of 004590?
Our model-based fair value for Hankook Furniture Co is 14,904 KRW (as of Aug 13, 2026), built from audited fundamentals. The current price is 5,500 KRW.
What is the quality score of 004590?
Hankook Furniture Co has a Quality Score of 59/100. 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 Hankook Furniture Co (004590)?
Hankook Furniture Co reported trailing-twelve-month revenue of about 151B KRW (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 004590?
The net profit margin of Hankook Furniture Co is about 9.5%, meaning it keeps roughly 9.5% of revenue as net income. Based on the latest reported figures.
Does Hankook Furniture Co pay a dividend?
Hankook Furniture Co currently shows a dividend yield of about 3.80% relative to its recent price (as of Aug 13, 2026).

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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