SPECO Ltd (013810) Fair Value & Analysis
Basic Materials · KR · Market cap 25.4B KRW
Fair value as of: Jul 22, 2026
From 5 valuation models · updated 19 days ago
Fair value updated Jul 22, 2026, revised from 892.87 KRW to 1,786 KRW (+100.0%) since Jul 6, 2026. Share price −10.6% over the past month.
A solid business, screening 10% undervalued on our models.
What matters now
- A fairly wide model range (1,232 KRW to 2,299 KRW) leaves room in how you read the outcome.
- Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Price vs Fair Value (5 years)
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 1,520 KRW – 9,901 KRW · fair‑value band 1,232 KRW – 2,299 KRW · the 1,617 KRW price screens below the 1,786 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.
Analysis
SPECO Ltd (013810) currently trades at 1,617 KRW, while our model-based Fair Value estimate is 1,786 KRW, implying the stock looks roughly 10.4% undervalued today. The Quality Score stands at 62/100 (solid quality), in the Basic Materials 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: low), always confirm before acting.
Over the trailing twelve months, SPECO Ltd generated revenue of 36.9B KRW at a net margin of 1.4%. Revenue declined 14.9% year over year. It earns a return on equity of 0.6%. Net debt stands at 2.0B KRW. Fundamentals as of Jul 22, 2026
Our scenario range runs from 1,232 KRW (bear case) to 2,299 KRW (bull case); at 1,617 KRW, the current price sits within 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 56% below its 52-week high, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -59% fair-value upside, at 10%, 013810 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.
All 5 models by family
Widest divergence: Asset-Based (2,025 KRW) versus Dividend Discount (502.50 KRW). Highest evidence: Gordon GGM (70).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 22, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 59 · Market factors (momentum, volatility) 20
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
SPECO Ltd., together with its subsidiaries, engages in the manufacturing, producing, and exporting of asphalt plants in South Korea, Mexico, Vietnam, Russia, the Middle East, Asia, Africa, and internationally.
Full company description
SPECO Ltd., together with its subsidiaries, engages in the manufacturing, producing, and exporting of asphalt plants in South Korea, Mexico, Vietnam, Russia, the Middle East, Asia, Africa, and internationally. It also offers concrete batch plants; crushing plants, such as grizzly feeder, jaw crusher, cone, impact crusher, and vibrating screen; and rudder roll stabilization system, waterjet, and fin stabilizer. In addition, the company is involved in wind power business; and sale of construction machinery plants. SPECO Ltd. was founded in 1979 and is headquartered in Eumseong-eup, South Korea.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
SPECO Ltd reported revenue of 38.0B KRW in FY2025 versus 54.3B KRW in FY2021, a compound −8.6%/yr. Reported net income was −94.1M KRW in FY2025.
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Peer Group
Building Materials · 253 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.
Valuation Multiples vs Building Materials median · lower = cheaper
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.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Building Materials stocks, each showing price versus our Fair Value estimate (as of Jul 22, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| CRH plc CRH | $102.92 | $70.57 | -31% |
| UltraTech Cement Limited ULTRACEMCO | ₹11,711 | ₹4,719 | -60% |
| China Jushi Co 600176 | ¥54.52 | ¥13.95 | -74% |
| Grasim Industries Limited GRASIM | ₹3,073 | ₹1,245 | -59% |
| CEMEX, S.A. CEMEXCPO | 21.71 MXN | 15.42 MXN | -29% |
| Anhui Conch Cement Company 600585 | ¥16.99 | ¥26.14 | +54% |
| Ambuja Cements Limited AMBUJACEM | ₹435.25 | ₹227.96 | -48% |
| Shree Cement Limited SHREECEM | ₹26,930 | ₹8,215 | -69% |
| TCC Group 1101B | 43.70 TWD | 10.48 TWD | -76% |
| Taiwan Glass Ind. Corp 1802 | 53.30 TWD | 13.98 TWD | -74% |
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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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