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Kyung Dong Navien Co (009450) Fair Value & Analysis

Industrials · KR · Market cap 931B KRW

KD Kyung Dong Navien Co 009450 · KO
Price73,000 KRW
Fair Value117,731 KRW
Upside+61.3%
Quality49/100
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Expensive Growth
Thin margins · 7.0% net margin
Low debt · negative free cash flow
1.19% dividend yield
Ranks above peers (8/9)
Moderate moat 53/100
Evidence: Medium Range 78,350 KRW – 154,401 KRW Share as image

Fair value as of: Jul 22, 2026

From 14 valuation models · updated 19 days ago

Fair value updated Jul 22, 2026, revised from 118,294 KRW to 117,731 KRW (−0.5%) since Jun 25, 2026. Share price +17.2% over the past month.

Below-average quality, screening 61% undervalued on our models.

What matters 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 154,401 KRW) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

104,072 KRW 31,646 KRW Fair Value 117,731 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 31,646 KRW – 104,072 KRW · fair‑value band 78,350 KRW – 154,401 KRW · the 73,000 KRW price screens below the 117,731 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

Kyung Dong Navien Co (009450) currently trades at 73,000 KRW, while our model-based Fair Value estimate is 117,731 KRW, implying the stock looks roughly 61.3% undervalued today. The Quality Score stands at 49/100 (below-average quality), in the Industrials 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: medium), always confirm before acting.

Over the trailing twelve months, Kyung Dong Navien Co generated revenue of 1.6T KRW at a net margin of 7.0%. Revenue grew 16.5% year over year. It earns a return on equity of 14.2%. Net debt stands at 194B KRW. Fundamentals as of Jul 22, 2026

Our scenario range runs from 78,350 KRW (bear case) to 154,401 KRW (bull case); at 73,000 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 22% below its 52-week high and 38% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -48% fair-value upside, at 61%, 009450 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 BearBaseBull Evidence
Highest evidence
Residual Income 49,702 KRW 59,291 KRW 125,835 KRW 76
ROIC Compounder 102,769 KRW 138,538 KRW 186,591 KRW 72
Growth-Adj P/E 78,350 KRW 111,929 KRW 145,508 KRW 68
All 14 models by family
Earnings-Based
Graham-Dodd 42,203 KRW 183,264 KRW 250,616 KRW 54
Lynch FV 47,137 KRW 67,338 KRW 87,540 KRW 50
PEG = 1.0 47,137 KRW 67,338 KRW 87,540 KRW 46
EPV 91,319 KRW 106,402 KRW 119,810 KRW 59
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 53
EV/EBITDA 139,241 KRW 183,707 KRW 228,173 KRW 54
EV/Revenue 97,096 KRW 136,204 KRW 175,312 KRW 43
Asset-Based
NCAV (Graham) 26,655 KRW 35,718 KRW 53,311 KRW 50
Economic Profit
Residual Income 49,702 KRW 59,291 KRW 125,835 KRW 76
ROIC Compounder 102,769 KRW 138,538 KRW 186,591 KRW 72
Growth Earnings
Growth-Adj P/E 78,350 KRW 111,929 KRW 145,508 KRW 68

Widest divergence: Multiples (130,332 KRW) versus Asset-Based (35,718 KRW). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 1.6T KRW
Revenue growth (YoY) +16.5%
Net margin 7.0%
Return on equity 14.2%
Free cash flow −91.1B KRW FY2025
Operating margin 15.0%
More key figures
Dividend yield 1.1%
EPS growth (YoY) +52.2%
Net debt 194B KRW FY2025

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

Quality Score breakdown

Overall quality 49/100

Of which business quality 49 · Market factors (momentum, volatility) 50

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 58
Calm price path (market factor)
Momentum 49
Price trend over the last 3–12 months (market factor)
52W Momentum 42
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

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 …

Full company description

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.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Kyung Dong Navien Co 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.

Growth Quality 57/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
1.5T KRW
Latest YoY
+11.0%
Avg. growth/yr (3Y)
+9.0%
Avg. growth/yr (5Y)
+11.5%
Avg. growth/yr (25Y)
+9.1%
Revenue +8.0%/yr
FY21 1.1T KRW
FY22 1.2T KRW
FY23 1.2T KRW
FY24 1.4T KRW
FY25 1.5T KRW
Net income +2.7%/yr
FY21 80.7B KRW
FY22 53.6B KRW
FY23 83.1B KRW
FY24 124B KRW
FY25 89.7B KRW

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Cite: Fair Value Calculator (2026). "Kyung Dong Navien Co Fair Value". https://www.fairvalue-calculator.com/stock/009450

Peer Group

Specialty Industrial Machinery · 809 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 49 · Below median
Fair Value upside +61% · Top 25%
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%
Revenue growth 17% · Above median
Dividend yield (TTM) 1.2% · Above median
Debt / equity 0.08× · Lower than median

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 83 · sector 23
PAST 57 · sector 28
HEALTH 96 · sector 96
DIVIDEND 24 · sector 24

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 Specialty Industrial Machinery stocks, each showing price versus our Fair Value estimate (as of Jul 22, 2026).

Stock Price Fair Value vs Fair Value
GE Vernova Inc 1GEV €887.60 €186.93 -79%
1SIE 1SIE €273.20 €91.93 -66%
SMNS SMNS C$31.76 C$22.68 -29%
Eaton Corporation ETN $407.28 $171.92 -58%
Atlas Copco AB ATCOA kr 195.15 kr 112.59 -42%
Sandvik AB SAND kr 384.10 kr 193.01 -50%
Doosan Enerbility Co 034020 76,400 KRW 7,938 KRW -90%
Vestas Wind Systems A/S VWS kr 178.10 kr 124.54 -30%
Zhejiang Sanhua Intelligent Controls Co 002050 ¥43.20 ¥22.68 -48%
NARI Technology Co 600406 ¥22.19 ¥18.71 -16%

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Frequently asked questions

Is Kyung Dong Navien Co (009450) overvalued or undervalued?
As of Jul 22, 2026, our model estimates a fair value of 117,731 KRW versus a price of 73,000 KRW, about +61% (undervalued).
What is the fair value of 009450?
Our model-based fair value for Kyung Dong Navien Co is 117,731 KRW (as of Jul 22, 2026), built from audited fundamentals. The current price is 73,000 KRW.
What is the quality score of 009450?
Kyung Dong Navien Co 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 revenue of Kyung Dong Navien Co (009450)?
Kyung Dong Navien Co reported trailing-twelve-month revenue of about 1.6T KRW (latest available figure, as of Jul 22, 2026).
What is the net profit margin of 009450?
The net profit margin of Kyung Dong Navien Co is about 7.0%, meaning it keeps roughly 7.0% of revenue as net income. Based on the latest reported figures.
Does Kyung Dong Navien Co pay a dividend?
Kyung Dong Navien Co currently shows a dividend yield of about 1.09% 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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