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PJ Electronics Co (006140) Fair Value & Analysis

Technology · KR · Market cap 69.3B KRW

PE PJ Electronics Co 006140 · KQ
Price5,040 KRW
Fair Value8,810 KRW
Upside+74.8%
Quality65/100
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Healthy Growth
Thin margins · 5.3% net margin
Low debt · generates free cash flow
4.44% dividend yield
Ranks above peers (9/10)
Narrow moat 33/100
Evidence: High Range 6,607 KRW – 11,012 KRW Share as image

Fair value as of: Jul 22, 2026

From 24 valuation models · updated 19 days ago

Share price +11.6% over the past month.

A solid business, screening 75% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (6,607 KRW). The market is more pessimistic than our downside scenario.
  • Solid quality (65/100) 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)

12,852 KRW 3,830 KRW Fair Value 8,810 KRW Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 22, 2026.

How to read this chart

60‑month range 3,830 KRW – 12,852 KRW · fair‑value band 6,607 KRW – 11,012 KRW · the 5,040 KRW price screens below the 8,810 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 22, 2026.

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Analysis

PJ Electronics Co (006140) currently trades at 5,040 KRW, while our model-based Fair Value estimate is 8,810 KRW, implying the stock looks roughly 74.8% undervalued today. The Quality Score stands at 65/100 (solid quality), in the Technology 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, PJ Electronics Co generated revenue of 185B KRW at a net margin of 5.3%. Revenue grew 13.9% year over year. It earns a return on equity of 7.1%. Net debt stands at 438M KRW. Fundamentals as of Jul 22, 2026

Our scenario range runs from 6,607 KRW (bear case) to 11,012 KRW (bull case); at 5,040 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 59% below its 52-week high and 7% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -73% fair-value upside, at 75%, 006140 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 18,336 KRW 26,554 KRW 38,359 KRW 80
Residual Income 7,540 KRW 7,887 KRW 8,317 KRW 76
Rev-Margin DCF 11,446 KRW 15,982 KRW 21,287 KRW 74
All 24 models by family
DCF Models
FCF DCF 18,060 KRW 27,362 KRW 41,602 KRW 38
Owner Earnings 7,945 KRW 11,559 KRW 17,091 KRW 31
5Y Revenue Exit 11,446 KRW 15,794 KRW 21,146 KRW 39
5Y EBITDA Exit 9,957 KRW 13,003 KRW 16,357 KRW 41
5Y P/E Exit 11,108 KRW 15,161 KRW 19,297 KRW 38
10Y Revenue Exit 13,479 KRW 18,020 KRW 23,809 KRW 36
10Y EBITDA Exit 12,734 KRW 16,080 KRW 20,145 KRW 37
10Y P/E Exit 13,468 KRW 17,580 KRW 22,394 KRW 35
Earnings-Based
Graham-Dodd 4,279 KRW 13,463 KRW 17,924 KRW 54
Lynch FV 2,947 KRW 4,210 KRW 5,473 KRW 50
PEG = 1.0 2,947 KRW 4,210 KRW 5,473 KRW 46
EPV 7,073 KRW 7,999 KRW 8,809 KRW 59
Multiples
P/E Multiple 6,607 KRW 8,810 KRW 11,012 KRW 63
P/S Multiple 8,023 KRW 10,698 KRW 13,372 KRW 58
P/B Multiple 8,023 KRW 10,698 KRW 13,372 KRW 55
EV/EBIT 7,047 KRW 8,891 KRW 10,734 KRW 53
EV/EBITDA 6,144 KRW 7,687 KRW 9,229 KRW 54
EV/Revenue 8,227 KRW 11,103 KRW 13,978 KRW 43
Asset-Based
NCAV (Graham) 4,688 KRW 6,282 KRW 9,377 KRW 50
Growth DCF
Growth DCF 18,336 KRW 26,554 KRW 38,359 KRW 80
Rev-Margin DCF 11,446 KRW 15,982 KRW 21,287 KRW 74
Economic Profit
Residual Income 7,540 KRW 7,887 KRW 8,317 KRW 76
ROIC Compounder 7,073 KRW 7,999 KRW 8,809 KRW 72
Growth Earnings
Growth-Adj P/E 5,779 KRW 8,255 KRW 10,732 KRW 68

Widest divergence: Growth DCF (15,982 KRW) versus Earnings-Based (4,210 KRW). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 185B KRW
Revenue growth (YoY) +13.9%
Net margin 5.3%
Return on equity 7.1%
Free cash flow 21.6B KRW FY2025
Operating margin 3.6%
More key figures
Dividend yield 4.0%
EPS growth (YoY) -4.3%
Net debt 438M KRW FY2025

Figures from reported company fundamentals · as of Jul 22, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 65/100

Of which business quality 66 · Market factors (momentum, volatility) 15

Profitability 37
Margins and returns on capital today
Quality Growth 48
Are margins and returns improving?
Cashflow 73
Earnings quality: real cash, not paper profit
Fin. Strength 78
Balance sheet, leverage, solvency risk
Investment 86
Disciplined investing over empire-building
Low Volatility 30
Calm price path (market factor)
Momentum 6
Price trend over the last 3–12 months (market factor)
52W Momentum 13
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

PJ Electronics Co., Ltd. provides electronic manufacturing services in South Korea. It provides medical equipment, automotive electronics, robot controllers, IT products, and various flexible/PCB assembly products.

Full company description

PJ Electronics Co., Ltd. provides electronic manufacturing services in South Korea. It provides medical equipment, automotive electronics, robot controllers, IT products, and various flexible/PCB assembly products. The company offers production equipment, comprising printers, dispensers, high speed and multi mounters, routers, UR5 robot screws, and N2 reflow, solder, under-fill, coating, press fit, ultrasonic cleaning, and washing machines; and inspection equipment, such as temperature/humidity chambers, 3D coordinate measure machines, magnifiers, and AOIs, solder paste inspection and coating inspection machines, x-rays/CTs, and in-circuit, function, flying probe, and XRF testers. In addition, it provides engineering services for new product introduction, including printed circuits board and function test fixture designs, process optimization of production time, design for manufacturing/assembly, and signal/power integrity. The company was formerly known as PJ Industry Co., Ltd. and changed its name to PJ Electronics Co., Ltd. in February 2000. PJ Electronics Co., Ltd. was founded in 1969 and is headquartered in Bucheon-si, South Korea.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

PJ Electronics Co reported revenue of 179B KRW in FY2025 versus 120B KRW in FY2021, a compound +10.5%/yr. Reported net income was 9.4B KRW in FY2025, compounding +3.3%/yr from FY2021.

Growth Quality 84/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
179B KRW
Latest YoY
+5.5%
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.
+4.2%
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.
+11.4%
Avg. growth/yr (11Y) 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.
+5.0%
Revenue +10.5%/yr
FY21 120B KRW
FY22 158B KRW
FY23 167B KRW
FY24 169B KRW
FY25 179B KRW
Net income +3.3%/yr
FY21 8.2B KRW
FY22 7.0B KRW
FY23 6.1B KRW
FY24 9.2B KRW
FY25 9.4B KRW

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Cite: Fair Value Calculator (2026). "PJ Electronics Co Fair Value". https://www.fairvalue-calculator.com/stock/006140

Peer Group

Electronic Components · 627 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 65 · Top 25%
Fair Value upside +75% · Top 25%
Return on equity (TTM) 7% · Above median
Return on assets 3% · Above median
Net margin (TTM) 5% · Above median
Operating margin (TTM) 4% · Below median
Revenue growth 14% · Above median
Dividend yield (TTM) 4.4% · Top 25%
Debt / equity 0.05× · Lower than median

Valuation Multiples vs Electronic Components 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 0
FUTURE 70 · sector 32
PAST 28 · sector 24
HEALTH 98 · sector 95
DIVIDEND 89 · sector 25

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 Electronic Components stocks, each showing price versus our Fair Value estimate (as of Jul 22, 2026).

Stock Price Fair Value vs Fair Value
Delta Electronics, Inc 2308 1,880 TWD 515.23 TWD -73%
Hon Hai Precision Industry Co 2317 242.50 TWD 270.47 TWD +12%
Luxshare Precision Industry Co 002475 ¥62.14 ¥38.44 -38%
Samsung Electro-Mechanics Co 009150 1,260,000 KRW 166,421 KRW -87%
Elite Material Co 2383 4,990 TWD 714.36 TWD -86%
Yageo Corporation 2327 699.00 TWD 216.55 TWD -69%
Shengyi Technology Co 600183 ¥132.29 ¥27.45 -79%
Shennan Circuits Co 002916 ¥364.00 ¥93.50 -74%
Victory Giant Technology (HuiZhou) Co 2476 HK$297.00 HK$103.98 -65%
Wus Printed Circuit (Kunshan) Co 002463 ¥127.80 ¥31.95 -75%

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Frequently asked questions

Is PJ Electronics Co (006140) overvalued or undervalued?
As of Jul 22, 2026, our model estimates a fair value of 8,810 KRW versus a price of 5,040 KRW, about +75% (undervalued).
What is the fair value of 006140?
Our model-based fair value for PJ Electronics Co is 8,810 KRW (as of Jul 22, 2026), built from audited fundamentals. The current price is 5,040 KRW.
What is the quality score of 006140?
PJ Electronics Co has a Quality Score of 65/100. 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 PJ Electronics Co (006140)?
PJ Electronics Co reported trailing-twelve-month revenue of about 185B KRW (latest available figure, as of Jul 22, 2026).
What is the net profit margin of 006140?
The net profit margin of PJ Electronics Co is about 5.3%, meaning it keeps roughly 5.3% of revenue as net income. Based on the latest reported figures.
Does PJ Electronics Co pay a dividend?
PJ Electronics Co currently shows a dividend yield of about 4.02% relative to its recent price (as of Jul 22, 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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