Sungshin Cemen (004980) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of Sungshin Cemen stock KRW 11,767, price KRW 7,080, upside +66.2%, quality 50 out of 100. Rating: strongly undervalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 8, 2026.
How to read this chart
60‑month range 6,368 KRW – 15,729 KRW · fair‑value band 8,826 KRW – 14,709 KRW · the 7,080 KRW price screens below the 11,767 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Nov 8, 2026.
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Sungshin Cement Co., Ltd manufactures and sells cement and ready mixed concrete products in South Korea and internationally.
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The company offers portland, portland blast-furnace slag, PHC pile, and class-A crude steel portland cement; ready-mixed concrete; and slag fine powder and cement, and special cement.
It also engages in the cargo transportation, port loading and unloading work, storage, international logistics, logistics consulting, and energy business; and trading and distribution of non-ferrous metals, ores, precious metals, and construction materials.
In addition, the company provides environmental pollution and preserving natural resources services. The company was formerly known as Sungshin Cement Manufacturing Co., Ltd. Sungshin Cement Co., Ltd was founded in 1967 and is headquartered in Seoul, South Korea.
Stock analysis
Sungshin Cemen (004980) currently trades at 7,080 KRW, while our model-based Fair Value estimate is 11,767 KRW, implying the stock looks roughly 40% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of 33,973 KRW per share, and 22 of the 26 models we run sit above the 7,080 KRW price.
Bear case: the Dividend Discount group reads lowest at 3,782 KRW, and 4 of the 26 models stay below the price. Data coverage for this calculation is high.
Scenario range: 8,826 KRW (bear) to 14,709 KRW (bull), the price of 7,080 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 50/100 (solid quality), in the Basic Materials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Sungshin Cemen reported revenue of 1.2T KRW in FY2025 versus 834B KRW in FY2021, a compound +9.9%/yr. Reported net income was 26.0B KRW in FY2025, compounding +41.7%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.
Key figures
Market cap 176B KRW (≈ $130M) Micro · P/E ratio 6.1 · P/S ratio 0.12 · EPS (TTM) 1,212 KRW · Dividend yield 4.9% · Net margin 2.2% · Return on equity 5.3% · Return on assets (EBIT) 3.1% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 29 out of 100 (low confidence).
What moves the price
The share trades about 46% below its 52-week high and 1% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −21% fair-value upside, at 66%, 004980 screens cheaper than that median.
Fair Value models
Bear8,826 KRWFair Value 11,767 KRWBull14,709 KRW
Price 7,080 KRW · Upside +66.2%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (739.24 KRW per share) are deliberately not added.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = 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.
Best data coverage
FCF DCF28,858 KRW39,658 KRW52,654 KRW81
Growth DCF28,948 KRW38,356 KRW49,042 KRW80
Owner Earnings24,566 KRW33,860 KRW45,043 KRW77
All 26 models by family
DCF Models
FCF DCF28,858 KRW39,658 KRW52,654 KRW81
Owner Earnings24,566 KRW33,860 KRW45,043 KRW77
5Y Revenue Exit20,452 KRW29,068 KRW39,485 KRW73
5Y EBITDA Exit26,366 KRW39,959 KRW55,306 KRW75
5Y P/E Exit18,569 KRW25,601 KRW32,584 KRW72
10Y Revenue Exit23,654 KRW31,510 KRW41,121 KRW68
10Y EBITDA Exit27,148 KRW37,791 KRW51,084 KRW69
10Y P/E Exit23,001 KRW29,511 KRW36,775 KRW65
Earnings-Based
Graham-Dodd7,327 KRW21,283 KRW28,103 KRW65
Lynch FV4,413 KRW6,304 KRW8,195 KRW61
PEG = 1.04,413 KRW6,304 KRW8,195 KRW57
EPV9,344 KRW10,649 KRW11,701 KRW74
Dividend Discount
Gordon GGM2,446 KRW4,022 KRW5,149 KRW68
DDM Multi-Stage2,446 KRW3,542 KRW4,334 KRW67
Multiples
P/E Multiple13,739 KRW18,318 KRW22,898 KRW63
P/S Multiple13,739 KRW18,318 KRW22,898 KRW58
P/B Multiple7,796 KRW10,395 KRW12,993 KRW55
EV/EBIT3,153 KRW9,489 KRW15,825 KRW60
EV/EBITDA14,084 KRW24,063 KRW34,043 KRW65
EV/Revenue618.35 KRW7,679 KRW14,739 KRW47
Asset-Based
NCAV (Graham)11,737 KRW15,727 KRW23,474 KRW54
Growth DCF
Growth DCF28,948 KRW38,356 KRW49,042 KRW80
Rev-Margin DCF20,452 KRW29,590 KRW40,092 KRW73
Economic Profit
Residual Income15,683 KRW15,600 KRW16,353 KRW76
ROIC Compounder9,344 KRW10,649 KRW11,701 KRW72
Growth Earnings
Growth-Adj P/E11,350 KRW16,214 KRW21,078 KRW67
The fair value above starts from this blend and is adjusted for a cyclical peak year.
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.70/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+4.6%
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.
+5.7%
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.
+11.0%
Start year 2020 (pandemic). Over 10 years: +6.0% 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.
+3.6%
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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.
+20.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+15.5%
Dividend (yield on the price)4.9%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.20.6% vs 7.8%, picking up
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.3% → 4%
Pace: the 5-year rate starts in 2020 (pandemic)
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).
−3.5%
The company could shrink this much every year for the next five years and today's price would still be justified.
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 −5.5% 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.Building Materials · 259 stocks
Beats the industry median on 9/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score50 · Below median
Fair Value upside+66.2% · Top 25%
Profitability
Return on equity (12 months)5.3% · Above median
Return on assets2.0% · Below median
Net margin (12 months)2.2% · Below median
Operating margin (12 months)3.8% · Below median
Growth and dividend
Revenue growth (quarter YoY)50.1% · Top 25%
Dividend yield (12 months)4.9% · Top 25%
Balance sheet
Debt / equity0.20× · Above median
Valuation Multiplesvs Building Materials median · lower = cheaper
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). "Sungshin Cemen Fair Value". https://www.fairvalue-calculator.com/stock/004980
Frequently asked questions
Is Sungshin Cemen (004980) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of 11,767 KRW versus a price of 7,080 KRW, about +66% upside (undervalued).
What is the fair value of 004980?
Our model-based fair value for Sungshin Cemen is 11,767 KRW (as of Nov 8, 2026), built from audited fundamentals. The current price: 7,080 KRW.
What is the quality score of 004980?
Sungshin Cemen has a Quality Score of 50/100. 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 Sungshin Cemen (004980)?
Our model-based price target is the fair value of 11,767 KRW (as of Nov 8, 2026) from 26 valuation models. Cautious scenario 8,826 KRW, optimistic scenario 14,709 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Sungshin Cemen stock forecast for 2026?
Our models put fair value at 11,767 KRW, about +66% upside versus a price of 7,080 KRW (undervalued). Cautious scenario 8,826 KRW, optimistic scenario 14,709 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Sungshin Cemen (004980)?
Sungshin Cemen reported trailing-twelve-month revenue of about 1.4T KRW (latest available figure, as of Nov 8, 2026).
Does Sungshin Cemen pay a dividend?
Sungshin Cemen currently shows a dividend yield of 4.94% relative to its recent price (as of Nov 8, 2026).
How much is the dividend of Sungshin Cemen (004980) and when is the ex-dividend date?
Sungshin Cemen pays a dividend of 350.00 KRW per share a year, a dividend yield of 4.9%. The last ex-dividend date was Dec 29, 2025. A dividend has been paid every year since 2018. The payout ratio is 28.9% of earnings. Free cash flow covers the dividend 9.32 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
What growth is priced into Sungshin Cemen (004980)?
For today's price to be fair in a discounted-cash-flow model, Sungshin Cemen would have to grow free cash flow by -3.5 % per year for five years (discount rate 13.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +11.0 % per year. As of Nov 8, 2026.
What discount rate (WACC) does the fair value of 004980 use?
Our models discount Sungshin Cemen at 13.0 %: a base by market capitalisation (micro), damped by beta 0.94, 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 Sungshin Cemen that is -3.5 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (13.0 %) and the same formula as our fair value.
How much growth has Sungshin Cemen (004980) delivered so far?
Over the past 5 years revenue at Sungshin Cemen grew +11.0 % a year. The price currently implies free-cash-flow growth of -3.5 % per 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 Sungshin Cemen (004980) growing?
The median revenue growth in the sector is +9.8 % a year. That is the yardstick for the growth priced into Sungshin Cemen (-3.5 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Sungshin Cemen (004980)?
The free-cash-flow yield on the price is 46.09 %: that much free cash flow Sungshin Cemen produces per unit of market value. When it exceeds the discount rate of our models (13.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Sungshin Cemen (004980)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Sungshin Cemen it is 11,767 KRW per share (as of Nov 8, 2026), against a price of 7,080 KRW. It is the blended result of 26 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Sungshin Cemen stock overvalued or undervalued in 2026?
As of Nov 8, 2026, 004980 trades below its calculated fair value: price 7,080 KRW, fair value 11,767 KRW, a gap of about +66% (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 004980?
No. The price is what the market pays today (7,080 KRW); the fair value is what the company's own numbers justify (11,767 KRW). For Sungshin Cemen the two are 4,687 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Sungshin Cemen worth?
The market values Sungshin Cemen at about 176B KRW (market capitalisation, as of Nov 8, 2026). Per share that is 7,080 KRW; our models calculate a fair value of 11,767 KRW per share.
What do the bullish and bearish scenarios say about 004980?
Our models span a range for Sungshin Cemen: cautious scenario 8,826 KRW, base 11,767 KRW, optimistic 14,709 KRW per share (as of Nov 8, 2026, price 7,080 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 004980?
Sungshin Cemen trades at a price-to-earnings ratio of 6.1 (as of Nov 8, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 11,767 KRW is built from several models across several years. Median P/E at fiscal year-end, 9 fiscal years (2016 to 2025), reported earnings: 10.9. Other multiples: P/B 0.3, P/S 0.1, EV/EBITDA 2.2.
How solid is the balance sheet of Sungshin Cemen (004980)?
Balance-sheet figures for Sungshin Cemen (as of Nov 8, 2026): return on equity 5.3%, debt of 0.20 per unit of equity. They feed the Quality Score of 50/100, which measures business quality independently of the share price.
How far is 004980 from its 52-week high?
Sungshin Cemen trades at 7,080 KRW, about 46% below its 52-week high of 13,230 KRW and 1% above the low of 7,040 KRW (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of 11,767 KRW is for.
Which stocks are comparable to Sungshin Cemen?
From the same area (Basic Materials) we also value CRH plc, Holcim AG, Martin Marietta Materials, Inc, Vulcan Materials Company, 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 Sungshin Cemen stock attractive at the current price?
The data as of Nov 8, 2026: price 7,080 KRW, calculated fair value 11,767 KRW (+66%), Quality Score 50/100, from 26 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 004980 calculated?
We run Sungshin Cemen through 26 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 11,767 KRW builds on their evidence-weighted average, 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 13.3% above its aggregate fair value. Sungshin Cemen currently trades 40% 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 Sungshin Cemen (004980)?
The closing price on Nov 9, 2026 was 7,080 KRW. Our model-based fair value is 11,767 KRW, about +66% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Sungshin Cemen right now?
The price is below even our cautious bear case (8,826 KRW). The market is more pessimistic than our downside scenario. Solid quality (50/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of Sungshin Cemen
How large is the market capitalisation of Sungshin Cemen (004980)?
The market capitalisation of Sungshin Cemen is 176B KRW (≈ $130M). 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 Sungshin Cemen (004980)?
The price-to-sales ratio of Sungshin Cemen is 0.12 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Sungshin Cemen (004980)?
Earnings per share at Sungshin Cemen are 1,212 KRW (price ÷ EPS = P/E 6.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Sungshin Cemen (004980)?
The dividend yield of Sungshin Cemen is 4.9% (payout 28.9%). 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 Sungshin Cemen (004980)?
The net margin of Sungshin Cemen is 2.2% (last twelve months). 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 Sungshin Cemen (004980)?
The return on equity (ROE) of Sungshin Cemen is 5.3% (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 Sungshin Cemen (004980)?
On an EBIT basis the return on assets of Sungshin Cemen is 3.1% (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 Sungshin Cemen (004980)?
The operating margin of Sungshin Cemen is 3.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Sungshin Cemen (004980)?
Revenue at Sungshin Cemen is growing +50.1% versus a year earlier (3y avg +5.7%). 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 Sungshin Cemen (004980)?
Earnings per share at Sungshin Cemen are growing +7.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Sungshin Cemen (004980) carry?
The net debt of Sungshin Cemen is 382B KRW (fiscal year 2025, ≈ 4.9 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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Broad data
Nov 8, 2026