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Kyung Dong Navien Co Ltd (009450) fair value: what the stock is really worth

As of Sep 23, 2026: fair value of Kyung Dong Navien Co Ltd KRW 111,929, price KRW 60,200, upside +85.9%, quality 49 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? No
  3. Add to watchlist

Industrials · KR · ISIN KR7009450008

KD Some data Sep 23, 2026

Kyung Dong Navien Co Ltd

009450 · KO

Cheap, value-trap riskThe stock looks deeply undervalued, but low quality raises value-trap risk.

✓Fair value 111,929 KRW · Strongly undervalued (+86%)
!Quality 49/100
!Expensive Growth (revenue 5y +11.5 %/yr)
!Thin margins · 7.0% net margin (TTM)
!Low debt · negative free cash flow
·1.25% dividend yield
✓Ranks above peers (8/9)
!Moderate moat 53/100
!Evidence only medium, so the estimate is less certain
!Weak on dividend: 25 out of 100
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

104,072 KRW 31,646 KRW Fair Value 111,929 KRW Apr 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.

How to read this chart

60‑month range 31,646 KRW – 104,072 KRW · fair‑value band 78,350 KRW – 145,508 KRW · the 60,200 KRW price screens below the 111,929 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 23, 2026.

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Company profile

Kyung Dong Navien Co., Ltd. manufactures and sells machinery and heat combustion equipment in South Korea.

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Kyung Dong Navien Co., Ltd. manufactures and sells machinery and heat combustion equipment in South Korea. The company offers gas, oil, and electric boilers; condensing oil and gas boiler; gas and electric water heaters; hot water mats; wired and wireless zone control systems; controllers; home network products, such as IoT products, video phones, lobby phones, sub-phones, door cameras, inter phones, and security office systems; heat pump products, including hybrid and double heat geothermal boilers; m-CHP products; zone control systems; and cascade systems, ventilators, and mid and large-size boilers. It also exports its products. The company was formerly known as Kyungdong Boiler Co., Ltd. and changed its name to Kyung Dong Navien Co., Ltd. in September 2006. Kyung Dong Navien Co., Ltd. was founded in 1973 and is headquartered in Pyeongtaek-Si, South Korea.

Stock analysis

Kyung Dong Navien Co Ltd (009450) currently trades at 60,200 KRW, while our model-based Fair Value estimate is 111,929 KRW, implying the stock looks roughly 46.2% undervalued today.

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Valuation

Bull case: the Multiples group reads highest at a median of 130,332 KRW per share, and 12 of the 14 models we run sit above the 60,200 KRW price.

Bear case: the Asset-Based group reads lowest at 35,718 KRW, and 2 of the 14 models stay below the price. Evidence for this calculation is medium.

Scenario range: 78,350 KRW (bear) to 145,508 KRW (bull), the price of 60,200 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 Industrials sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Kyung Dong Navien Co Ltd reported revenue of 1.5T KRW in FY2025 versus 1.1T KRW in FY2021, a compound +8.0%/yr. Reported net income was 89.7B KRW in FY2025, compounding +2.7%/yr from FY2021.

Key figures

Market cap 870B KRW (≈ $609M) · P/S ratio 0.60 · Dividend yield 1.2% · Net margin 6.0% · Return on equity 14.2% · Return on assets (EBIT) 8.4% · Operating margin 15.0% · Revenue (TTM) 1.6T KRW.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).

What moves the price

The share trades about 23% below its 52-week high and 12% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Industrials peers we cover trades at −49% fair-value upside, at 86%, 009450 screens cheaper than that median.

Fair Value models

Bear 78,350 KRW Fair Value 111,929 KRW Bull 145,508 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.
Highest evidence
Residual Income 45,983 KRW 51,374 KRW 77,593 KRW 75
EPV 74,224 KRW 83,548 KRW 91,319 KRW 74
ROIC Compounder 80,027 KRW 99,832 KRW 124,035 KRW 72
All 14 models by family
Earnings-Based
Graham-Dodd 42,203 KRW 183,264 KRW 250,616 KRW 64
Lynch FV 47,137 KRW 67,338 KRW 87,540 KRW 61
PEG = 1.0 47,137 KRW 67,338 KRW 87,540 KRW 57
EPV 74,224 KRW 83,548 KRW 91,319 KRW 74
Multiples
P/E Multiple 97,749 KRW 130,332 KRW 162,915 KRW 63
P/S Multiple 79,130 KRW 105,507 KRW 131,883 KRW 58
P/B Multiple 79,130 KRW 105,507 KRW 131,883 KRW 55
EV/EBIT 133,697 KRW 176,315 KRW 218,932 KRW 66
EV/EBITDA 139,241 KRW 183,707 KRW 228,173 KRW 67
EV/Revenue 97,096 KRW 136,204 KRW 175,312 KRW 54
Asset-Based
NCAV (Graham) 26,655 KRW 35,718 KRW 53,311 KRW 54
Economic Profit
Residual Income 45,983 KRW 51,374 KRW 77,593 KRW 75
ROIC Compounder 80,027 KRW 99,832 KRW 124,035 KRW 72
Growth Earnings
Growth-Adj P/E 78,350 KRW 111,929 KRW 145,508 KRW 67

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Quality Score breakdown

Overall quality 49/100

Of which business quality 49 · Market factors (momentum, volatility) 33

Profitability 55
Margins and returns on capital today
Quality Growth 33
Are margins and returns improving?
Cashflow 12
Earnings quality: real cash, not paper profit
Fin. Strength 75
Balance sheet, leverage, solvency risk
Investment 36
Disciplined investing over empire-building
Low Volatility 59
Calm price path (market factor)
Momentum 26
Price trend over the last 3–12 months (market factor)
52W Momentum 16
Distance to the 52-week high (market factor)
Net Issuance 82
Share count: buybacks or dilution?

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Revenue & earnings trend

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. 57/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+11.0%
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.
+9.0%
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.
+11.5%
Start year 2020 (pandemic). Over 10 years: +11.4% 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.
+9.1%
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.
+16.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year+15.0%
Dividend (yield on the price)1.2%
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.8% → 10%

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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.Specialty Industrial Machinery · 837 stocks

Beats the industry median on 8/9 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 49 · Below median
Fair Value upside +86% · Top 25%
Profitability
Return on equity (TTM) 14% · Top 25%
Return on assets 7% · Top 25%
Net margin (TTM) 7% · Above median
Operating margin (TTM) 15% · Top 25%
Growth and dividend
Revenue growth 17% · Above median
Dividend yield (TTM) 1.2% · Above median
Balance sheet
Debt / equity 0.08× · Below median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 0
FUTURE (revenue growth)83 · sector 22
PAST (return on equity)57 · sector 28
HEALTH (low debt)96 · sector 95
DIVIDEND (yield)25 · sector 24

Context: sector, industry, market

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

Similar stocks

10 more Specialty Industrial Machinery stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
GE Vernova Inc GEV $950.28 $194.25 −80%
SIE SIE €273.85 €150.21 −45%
Eaton Corporation ETN $442.49 $172.75 −61%
Parker-Hannifin Corporation PH $964.85 $418.76 −57%
Cummins Inc CMI $526.13 $359.38 −32%
Illinois Tool Works Inc ITW $270.47 $151.39 −44%
Emerson Electric Co EMR $154.19 $62.15 −60%
AMETEK, Inc AME $245.41 $125.80 −49%
Rockwell Automation, Inc ROK $427.19 $138.24 −68%
Sandvik AB SAND kr 385.10 kr 199.07 −48%

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Kyung Dong Navien Co Ltd · Fair Value
111,929 KRW +46%Fair Value
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Cite: Fair Value Calculator (2026). "Kyung Dong Navien Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/009450

Frequently asked questions

Is Kyung Dong Navien Co Ltd (009450) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of 111,929 KRW versus a price of 60,200 KRW, about +86% upside (undervalued).
What is the fair value of 009450?
Our model-based fair value for Kyung Dong Navien Co Ltd is 111,929 KRW (as of Sep 23, 2026), built from audited fundamentals. The current price: 60,200 KRW.
What is the quality score of 009450?
Kyung Dong Navien Co Ltd 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 Kyung Dong Navien Co Ltd (009450)?
Our model-based price target is the fair value of 111,929 KRW (as of Sep 23, 2026) from 14 valuation models. Cautious scenario 78,350 KRW, optimistic scenario 145,508 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Kyung Dong Navien Co Ltd stock forecast for 2026?
Our models put fair value at 111,929 KRW, about +86% upside versus a price of 60,200 KRW (undervalued). Cautious scenario 78,350 KRW, optimistic scenario 145,508 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Kyung Dong Navien Co Ltd (009450)?
Kyung Dong Navien Co Ltd reported trailing-twelve-month revenue of about 1.6T KRW (latest available figure, as of Sep 23, 2026).
Does Kyung Dong Navien Co Ltd pay a dividend?
Kyung Dong Navien Co Ltd currently shows a dividend yield of about 1.25% relative to its recent price (as of Sep 23, 2026).
What is the intrinsic value of Kyung Dong Navien Co Ltd (009450)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Kyung Dong Navien Co Ltd it is 111,929 KRW per share (as of Sep 23, 2026), against a price of 60,200 KRW. It is the blended result of 14 valuation models (cash flow, earnings, asset, dividend).
Is Kyung Dong Navien Co Ltd stock overvalued or undervalued in 2026?
As of Sep 23, 2026, 009450 trades below its calculated fair value: price 60,200 KRW, fair value 111,929 KRW, a gap of about +86% (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 009450?
No. The price is what the market pays today (60,200 KRW); the fair value is what the company's own numbers justify (111,929 KRW). For Kyung Dong Navien Co Ltd the two are 51,729 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Kyung Dong Navien Co Ltd worth?
The market values Kyung Dong Navien Co Ltd at about 870B KRW (market capitalisation, as of Sep 23, 2026). Per share that is 60,200 KRW; our models calculate a fair value of 111,929 KRW per share.
What do the bullish and bearish scenarios say about 009450?
Our models span a range for Kyung Dong Navien Co Ltd: cautious scenario 78,350 KRW, base 111,929 KRW, optimistic 145,508 KRW per share (as of Sep 23, 2026, price 60,200 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Kyung Dong Navien Co Ltd (009450)?
Balance-sheet figures for Kyung Dong Navien Co Ltd (as of Sep 23, 2026): return on equity 14.2%, debt of 0.08 per unit of equity. They feed the Quality Score of 49/100, which measures business quality independently of the share price.
How far is 009450 from its 52-week high?
Kyung Dong Navien Co Ltd trades at 60,200 KRW, about 23% below its 52-week high of 78,500 KRW and 12% above the low of 53,600 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 111,929 KRW is for.
Which stocks are comparable to Kyung Dong Navien Co Ltd?
From the same area (Industrials) we also value GE Vernova Inc, SIE, Eaton Corporation, Parker-Hannifin Corporation, 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 Kyung Dong Navien Co Ltd stock attractive at the current price?
The data as of Sep 23, 2026: price 60,200 KRW, calculated fair value 111,929 KRW (+86%), Quality Score 49/100, from 14 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 009450 calculated?
We run Kyung Dong Navien Co Ltd through 14 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 111,929 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 14.1 % above its aggregate fair value. Kyung Dong Navien Co Ltd currently trades 86 % 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 Kyung Dong Navien Co Ltd (009450)?
The closing price on Sep 23, 2026 was 60,200 KRW. Our model-based fair value is 111,929 KRW, about +86% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Kyung Dong Navien Co Ltd right now?
The price is below even our cautious bear case (78,350 KRW). The market is more pessimistic than our downside scenario. 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 (78,350 KRW to 145,508 KRW) leaves room in how you read the outcome.

Key figures of Kyung Dong Navien Co Ltd

How large is the market capitalisation of Kyung Dong Navien Co Ltd (009450)?
The market capitalisation of Kyung Dong Navien Co Ltd is 870B KRW (≈ $609M). 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 Kyung Dong Navien Co Ltd (009450)?
The price-to-sales ratio of Kyung Dong Navien Co Ltd is 0.60 (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 Kyung Dong Navien Co Ltd (009450)?
The dividend yield of Kyung Dong Navien Co Ltd is 1.2%. 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 Kyung Dong Navien Co Ltd (009450)?
The net margin of Kyung Dong Navien Co Ltd is 6.0% (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 Kyung Dong Navien Co Ltd (009450)?
The return on equity (ROE) of Kyung Dong Navien Co Ltd is 14.2% (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 Kyung Dong Navien Co Ltd (009450)?
On an EBIT basis the return on assets of Kyung Dong Navien Co Ltd is 8.4% (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 Kyung Dong Navien Co Ltd (009450)?
The operating margin of Kyung Dong Navien Co Ltd is 15.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Kyung Dong Navien Co Ltd (009450)?
Revenue at Kyung Dong Navien Co Ltd is growing +16.5% versus a year earlier (3y avg +9.0%). 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 Kyung Dong Navien Co Ltd (009450)?
Earnings per share at Kyung Dong Navien Co Ltd are growing +52.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Kyung Dong Navien Co Ltd (009450) generate?
The free cash flow of Kyung Dong Navien Co Ltd is −91.1B KRW (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Kyung Dong Navien Co Ltd (009450) carry?
The net debt of Kyung Dong Navien Co Ltd is 194B KRW (fiscal year 2025). 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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