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Zinus Inc (013890) Fair Value & Analysis

Consumer Cyclical · KR · Market cap 193B KRW

ZI Zinus Inc 013890 · KO
Price7,420 KRW
Fair Value18,627 KRW
Upside+151.0%
Quality55/100
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Weak Growth
Loss-making · -7.5% net margin
Low debt · generates free cash flow
1.01% dividend yield
Mixed vs. peers (4/10)
Narrow moat 13/100
Evidence: Medium Range 13,398 KRW – 23,857 KRW Share as image

Fair value as of: Aug 13, 2026

From 13 valuation models · updated 6 days ago

Share price −17.1% over the past month.

A solid business, screening 151% undervalued on our models.

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What matters now

  • The price is below even our cautious bear case (13,398 KRW). The market is more pessimistic than our downside scenario.
  • Solid quality (55/100) 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)

79,125 KRW 7,420 KRW Fair Value 18,627 KRW Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range 7,420 KRW – 79,125 KRW · fair‑value band 13,398 KRW – 23,857 KRW · the 7,420 KRW price screens below the 18,627 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Zinus Inc (013890) currently trades at 7,420 KRW, while our model-based Fair Value estimate is 18,627 KRW, implying the stock looks roughly 151.0% undervalued today. The Quality Score stands at 55/100 (solid quality), in the Consumer Cyclical 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, Zinus Inc generated revenue of 803B KRW at a net margin of -7.5%. Revenue declined 44.2% year over year. It earns a return on equity of -8.9%. Net debt stands at 50.2B KRW. Fundamentals as of Aug 13, 2026

Our scenario range runs from 13,398 KRW (bear case) to 23,857 KRW (bull case); at 7,420 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 66% below its 52-week high, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 8% fair-value upside, at 151%, 013890 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 84,082 KRW 111,521 KRW 155,680 KRW 80
Rev-Margin DCF 39,668 KRW 47,498 KRW 57,712 KRW 74
ROIC Compounder 10,661 KRW 11,584 KRW 12,391 KRW 72
All 13 models by family
DCF Models
FCF DCF 81,250 KRW 109,673 KRW 158,598 KRW 38
5Y Revenue Exit 39,668 KRW 45,923 KRW 54,199 KRW 39
5Y EBITDA Exit 51,388 KRW 66,059 KRW 84,248 KRW 41
10Y Revenue Exit 54,649 KRW 62,624 KRW 70,711 KRW 36
10Y EBITDA Exit 62,169 KRW 75,993 KRW 91,056 KRW 37
Earnings-Based
EPV 10,661 KRW 11,584 KRW 12,391 KRW 59
Multiples
EV/EBIT 20,816 KRW 26,045 KRW 31,274 KRW 53
EV/EBITDA 38,036 KRW 49,006 KRW 59,975 KRW 54
EV/Revenue 15,702 KRW 20,235 KRW 24,767 KRW 43
Asset-Based
NCAV (Graham) 14,808 KRW 19,843 KRW 29,617 KRW 50
Growth DCF
Growth DCF 84,082 KRW 111,521 KRW 155,680 KRW 80
Rev-Margin DCF 39,668 KRW 47,498 KRW 57,712 KRW 74
Economic Profit
ROIC Compounder 10,661 KRW 11,584 KRW 12,391 KRW 72

Widest divergence: DCF Models (66,059 KRW) versus Earnings-Based (11,584 KRW). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 803B KRW
Revenue growth (YoY) -44.2%
Net margin -7.5%
Return on equity -8.9%
Free cash flow 163B KRW FY2025
Operating margin -21.6%
More key figures
Dividend yield 1.0%
EPS growth (YoY) -89.1%
Net debt 50.2B KRW FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 55/100

Of which business quality 57 · Market factors (momentum, volatility) 21

Profitability 28
Margins and returns on capital today
Quality Growth 57
Are margins and returns improving?
Cashflow 75
Earnings quality: real cash, not paper profit
Fin. Strength 54
Balance sheet, leverage, solvency risk
Investment 91
Disciplined investing over empire-building
Low Volatility 68
Calm price path (market factor)
Momentum 3
Price trend over the last 3–12 months (market factor)
52W Momentum 0
Distance to the 52-week high (market factor)
Net Issuance 49
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

Zinus, Inc manufactures and sells beds and bedding. The company offers mattresses, bed frame, topper, pillow, and bedding products. The company was founded in 1979 and is based in Seongnam-si, South Korea.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Zinus Inc reported revenue of 913B KRW in FY2025 versus 1.1T KRW in FY2021, a compound −5.1%/yr. Reported net income was −18.5B KRW in FY2025.

Growth Quality 24/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
913B KRW
Latest YoY
−0.8%
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.
−7.7%
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.
−1.6%
Avg. growth/yr (9Y) 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.
+11.5%
Revenue −5.1%/yr
FY21 1.1T KRW
FY22 1.2T KRW
FY23 952B KRW
FY24 920B KRW
FY25 913B KRW
Net income
FY21 51.7B KRW
FY22 29.4B KRW
FY23 5.3B KRW
FY24 −6.8B KRW
FY25 −18.5B KRW

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Cite: Fair Value Calculator (2026). "Zinus Inc Fair Value". https://www.fairvalue-calculator.com/stock/013890

Peer Group

Furnishings, Fixtures & Appliances · 319 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 55 · Above median
Fair Value upside +151% · Top 25%
Return on assets -2% · Bottom 25%
Net margin (TTM) -7% · Bottom 25%
Operating margin (TTM) -22% · Bottom 25%
Revenue growth -44% · Bottom 25%
Dividend yield (TTM) 1.2% · Below median
Debt / equity 0.02× · Lower than median

Valuation Multiples vs Furnishings, Fixtures & Appliances 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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE100 · sector 18
FUTURE0 · sector 0
PAST0 · sector 19
HEALTH99 · sector 98
DIVIDEND24 · sector 55

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 Furnishings, Fixtures & Appliances stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Midea Group 000333 ¥84.34 ¥99.66 +18%
Gree Electric Appliances, Inc 000651 ¥40.23 ¥86.91 +116%
Haier Smart Home Co 600690 ¥21.79 ¥36.04 +65%
King Slide Works Co 2059 12,500 TWD 1,917 TWD -85%
Guangdong Songfa Ceramics Co 603268 ¥173.26 ¥38.83 -78%
Hisense Home Appliances Group 000921 ¥27.69 ¥50.62 +83%
Ecovacs Robotics Co 603486 ¥57.74 ¥54.14 -6%
Zhejiang Supor Co 002032 ¥41.68 ¥44.84 +8%
COWAY Co 021240 97,200 KRW 103,928 KRW +7%
Sichuan Changhong Electric Co 600839 ¥7.28 ¥4.71 -35%

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Frequently asked questions

Is Zinus Inc (013890) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 18,627 KRW versus a price of 7,420 KRW, about +151% (undervalued).
What is the fair value of 013890?
Our model-based fair value for Zinus Inc is 18,627 KRW (as of Aug 13, 2026), built from audited fundamentals. The current price: 7,420 KRW.
What is the quality score of 013890?
Zinus Inc has a Quality Score of 55/100. 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 Zinus Inc (013890)?
Zinus Inc reported trailing-twelve-month revenue of about 803B KRW (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 013890?
The net profit margin of Zinus Inc is about -7.5%, meaning it is currently running at a net loss. Based on the latest reported figures.
Does Zinus Inc pay a dividend?
Zinus Inc currently shows a dividend yield of about 0.96% relative to its recent price (as of Aug 13, 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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