Dongwon Ind (006040) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Dongwon Ind KRW 89,760, price KRW 35,200, upside +155.0%, quality 49 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 23,422 KRW – 51,254 KRW · fair‑value band 46,501 KRW – 119,548 KRW · the 35,200 KRW price screens below the 89,760 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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Dongwon Industries Co., Ltd. engages in the marine and fisheries, distribution, and logistics businesses in South Korea and internationally. The company operates through General Food, Seasoning Distribution, Feed Sector segments.
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Dongwon Industries Co., Ltd. engages in the marine and fisheries, distribution, and logistics businesses in South Korea and internationally. The company operates through General Food, Seasoning Distribution, Feed Sector segments. It operates tuna purse seiners in the Western and Central Pacific Ocean, and the Indian Ocean to catch skipjack and yellowfin tuna fishes; tuna longliners in the Pacific Ocean and the Indian Ocean to catch yellowfin and bigeye tunas; trawler in the Antarctic Ocean to catch krill and pelagic fish; and reefer carriers. It involves in import and export of marine products and general cargo, and offers canned food, refrigerated food, ham, and dairy products. The company also processes and distributes tuna and salmon; and distributes fisheries goods. In addition, it operates Dongwon Tuna Restaurant, a franchise restaurant. Further, the company engages in wholesale and retail of sauces, group meals, food, and livestock distribution; and processing and storage of edible seaweed. Additionally, it manufactures livestock product mixed feed. The company was founded in 1969 and is headquartered in Seoul, South Korea. Dongwon Industries Co., Ltd. operates as a subsidiary of Dongwon Enterprise Co., Ltd.
Stock analysis
Dongwon Ind (006040) currently trades at 35,200 KRW, while our model-based Fair Value estimate is 89,760 KRW, implying the stock looks roughly 60.8% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 192,005 KRW per share, and 23 of the 23 models we run sit above the 35,200 KRW price.
Bear case: the Asset-Based group reads lowest at 53,544 KRW, and 0 of the 23 models stay below the price. Evidence for this calculation is low.
Scenario range: 46,501 KRW (bear) to 119,548 KRW (bull), the price of 35,200 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 49/100 (below-average quality), in the Consumer Defensive sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Dongwon Ind reported revenue of 9.6T KRW in FY2025 versus 2.8T KRW in FY2021, a compound +36.0%/yr. Reported net income was 367B KRW in FY2025, compounding +21.4%/yr from FY2021.
Key figures
Market cap 1.6T KRW (≈ $1.1B) · P/S ratio 0.15 · Dividend yield 1.7% · Net margin 3.8% · Return on equity 11.9% · Return on assets (EBIT) 7.0% · Operating margin 5.8% · Revenue (TTM) 9.8T KRW.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (low confidence).
What moves the price
The share trades about 29% below its 52-week high and 17% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Defensive peers we cover trades at −3% fair-value upside, at 155%, 006040 screens cheaper than that median.
Fair Value models
Bear 46,501 KRWFair Value 89,760 KRWBull 119,548 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.62/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+7.1%
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.
+2.0%
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.
+27.4%
Start year 2020 (pandemic). Over 10 years: +21.6% a year
Revenue growth 18 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.
+18.5%
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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.
≈ −29.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year−31.3%
Dividend (yield on the price)1.7%
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.10% → 5%
⚠ Revenue per share shrinking 17.7%/yr over ~6Y (margins intact) ⓘ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.
⚠ Rate on operating basis: 2025 sits 117% 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).
+24.5%
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 +22.0% 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.Packaged Foods · 668 stocks
Beats the industry median on 7/11 measures
Overall it ranks above its industry peers.
Valuation
Quality Score49 · Below median
Fair Value upside+155% · Top 25%
Profitability
Return on equity (TTM)12% · Above median
Return on assets4% · Above median
Net margin (TTM)4% · Above median
Operating margin (TTM)6% · Below median
Growth and dividend
Revenue growth9% · Above median
Dividend yield (TTM)1.7% · Below median
Balance sheet
Debt / equity0.26× · Above median
Valuation Multiplesvs Packaged Foods median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Dongwon Ind Fair Value". https://www.fairvalue-calculator.com/stock/006040
Frequently asked questions
Is Dongwon Ind (006040) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 89,760 KRW versus a price of 35,200 KRW, about +155% upside (undervalued).
What is the fair value of 006040?
Our model-based fair value for Dongwon Ind is 89,760 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 35,200 KRW.
What is the quality score of 006040?
Dongwon Ind has a Quality Score of 49/100. 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 Dongwon Ind (006040)?
Our model-based price target is the fair value of 89,760 KRW (as of Sep 24, 2026) from 23 valuation models. Cautious scenario 46,501 KRW, optimistic scenario 119,548 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Dongwon Ind stock forecast for 2026?
Our models put fair value at 89,760 KRW, about +155% upside versus a price of 35,200 KRW (undervalued). Cautious scenario 46,501 KRW, optimistic scenario 119,548 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Dongwon Ind (006040)?
Dongwon Ind reported trailing-twelve-month revenue of about 9.8T KRW (latest available figure, as of Sep 24, 2026).
Does Dongwon Ind pay a dividend?
Dongwon Ind currently shows a dividend yield of about 1.70% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Dongwon Ind (006040)?
For today's price to be fair in a discounted-cash-flow model, Dongwon Ind would have to grow free cash flow by +24.5 % per year for five years (discount rate 10.2 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +27.4 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 006040 use?
Our models discount Dongwon Ind at 10.2 %: a base by market capitalisation (small), damped by beta 0.18, 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 Dongwon Ind that is +24.5 % per year a year over ten years, using the same discount rate (10.2 %) and the same formula as our fair value.
How much growth has Dongwon Ind (006040) delivered so far?
Over the past 5 years revenue at Dongwon Ind grew +27.4 % a year. The price currently implies +24.5 % 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 Dongwon Ind (006040) growing?
The median revenue growth in the sector is +2.9 % a year. That is the yardstick for the growth priced into Dongwon Ind (+24.5 % 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 Dongwon Ind (006040)?
The free-cash-flow yield on the price is 5.82 %: that much free cash flow Dongwon Ind produces per unit of market value. When it exceeds the discount rate of our models (10.2 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Dongwon Ind (006040)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Dongwon Ind it is 89,760 KRW per share (as of Sep 24, 2026), against a price of 35,200 KRW. It is the blended result of 23 valuation models (cash flow, earnings, asset, dividend).
Is Dongwon Ind stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 006040 trades below its calculated fair value: price 35,200 KRW, fair value 89,760 KRW, a gap of about +155% (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 006040?
No. The price is what the market pays today (35,200 KRW); the fair value is what the company's own numbers justify (89,760 KRW). For Dongwon Ind the two are 54,560 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Dongwon Ind worth?
The market values Dongwon Ind at about 1.6T KRW (market capitalisation, as of Sep 24, 2026). Per share that is 35,200 KRW; our models calculate a fair value of 89,760 KRW per share.
What do the bullish and bearish scenarios say about 006040?
Our models span a range for Dongwon Ind: cautious scenario 46,501 KRW, base 89,760 KRW, optimistic 119,548 KRW per share (as of Sep 24, 2026, price 35,200 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Dongwon Ind (006040)?
Balance-sheet figures for Dongwon Ind (as of Sep 24, 2026): return on equity 11.9%, debt of 0.26 per unit of equity. They feed the Quality Score of 49/100, which measures business quality independently of the share price.
How far is 006040 from its 52-week high?
Dongwon Ind trades at 35,200 KRW, about 29% below its 52-week high of 49,250 KRW and 17% above the low of 30,050 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 89,760 KRW is for.
Which stocks are comparable to Dongwon Ind?
From the same area (Consumer Defensive) we also value Nestlé S.A, Danone S.A, The Kraft Heinz Company, Foshan Haitian Flavouring and Food 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 Dongwon Ind stock attractive at the current price?
The data as of Sep 24, 2026: price 35,200 KRW, calculated fair value 89,760 KRW (+155%), Quality Score 49/100, from 23 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 006040 calculated?
We run Dongwon Ind through 23 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 89,760 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 14.0 % above its aggregate fair value. Dongwon Ind currently trades 155 % 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 Dongwon Ind (006040)?
The closing price on Sep 23, 2026 was 35,200 KRW. Our model-based fair value is 89,760 KRW, about +155% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Dongwon Ind right now?
The price is below even our cautious bear case (46,501 KRW). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (49/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (46,501 KRW to 119,548 KRW) leaves room in how you read the outcome.
Key figures of Dongwon Ind
How large is the market capitalisation of Dongwon Ind (006040)?
The market capitalisation of Dongwon Ind is 1.6T KRW (≈ $1.1B). 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 Dongwon Ind (006040)?
The price-to-sales ratio of Dongwon Ind is 0.15 (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 Dongwon Ind (006040)?
The dividend yield of Dongwon Ind is 1.7%. 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 Dongwon Ind (006040)?
The net margin of Dongwon Ind is 3.8% (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 Dongwon Ind (006040)?
The return on equity (ROE) of Dongwon Ind is 11.9% (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 Dongwon Ind (006040)?
On an EBIT basis the return on assets of Dongwon Ind is 7.0% (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 Dongwon Ind (006040)?
The operating margin of Dongwon Ind is 5.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Dongwon Ind (006040)?
Revenue at Dongwon Ind is growing +9.1% versus a year earlier (3y avg +2.0%). 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 Dongwon Ind (006040)?
Earnings per share at Dongwon Ind are growing +52.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Dongwon Ind (006040) carry?
The net debt of Dongwon Ind is 2.2T KRW (fiscal year 2025, ≈ 23.9 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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