Daechang Forgi (015230) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Daechang Forgi KRW 13,286, price KRW 6,540, upside +103.2%, quality 55 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 2, 2026.
How to read this chart
60‑month range 3,071 KRW – 8,026 KRW · fair‑value band 9,300 KRW – 17,272 KRW · the 6,540 KRW price screens below the 13,286 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 2, 2026.
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Daechang Forging Co., Ltd. manufactures and sells various forged products in South Korea and internationally. It offers undercarriage parts for heavy construction equipment, such as excavators and dozers; track group assembly; track rollers and idlers; segments and sprockets; crankshafts; mini excavators; and other parts. Daechang Forging Co., Ltd.
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Daechang Forging Co., Ltd. manufactures and sells various forged products in South Korea and internationally. It offers undercarriage parts for heavy construction equipment, such as excavators and dozers; track group assembly; track rollers and idlers; segments and sprockets; crankshafts; mini excavators; and other parts. Daechang Forging Co., Ltd. was founded in 1955 and is based in Gimhae-si, South Korea.
Stock analysis
Daechang Forgi (015230) currently trades at 6,540 KRW, while our model-based Fair Value estimate is 13,286 KRW, implying the stock looks roughly 50.8% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 20,859 KRW per share, and 12 of the 13 models we run sit above the 6,540 KRW price.
Bear case: the DCF Models group reads lowest at 4,266 KRW, and 1 of the 13 models stay below the price. Evidence for this calculation is low.
Scenario range: 9,300 KRW (bear) to 17,272 KRW (bull), the price of 6,540 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 55/100 (solid quality), in the Consumer Cyclical sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Daechang Forgi reported revenue of 346B KRW in FY2025 versus 354B KRW in FY2021, a compound −0.6%/yr. Reported net income was 28.8B KRW in FY2025, compounding +2.0%/yr from FY2021.
Key figures
Market cap 165B KRW (≈ $123M) · P/S ratio 0.44 · Dividend yield 2.8% · Net margin 8.3% · Return on equity 11.6% · Return on assets (EBIT) 11.2% · Operating margin 15.4% · Revenue (TTM) 374B KRW.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).
What moves the price
The share trades about 11% below its 52-week high and 21% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −27% fair-value upside, at 103%, 015230 screens cheaper than that median.
Fair Value models
Bear 9,300 KRWFair Value 13,286 KRWBull 17,272 KRW
Price 6,540 KRW · Upside +103.2%
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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.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.
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.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+7.5%
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.
−6.3%
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.
+5.5%
Start year 2020 (pandemic). Over 10 years: +4.1% a year
Revenue growth 24 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.
+6.4%
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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.
+4.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year+2.1%
Dividend (yield on the price)2.8%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.2.1% vs −13.4%, picking up
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.7% → 11%
Start year 2020 (pandemic)
⚠ Revenue per share shrinking 6.6%/yr over ~7Y (margins intact) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
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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.Auto Parts · 661 stocks
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Daechang Forgi Fair Value". https://www.fairvalue-calculator.com/stock/015230
Frequently asked questions
Is Daechang Forgi (015230) overvalued or undervalued?
As of Oct 2, 2026, our model estimates a fair value of 13,286 KRW versus a price of 6,540 KRW, about +103% upside (undervalued).
What is the fair value of 015230?
Our model-based fair value for Daechang Forgi is 13,286 KRW (as of Oct 2, 2026), built from audited fundamentals. The current price: 6,540 KRW.
What is the quality score of 015230?
Daechang Forgi 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 price target for Daechang Forgi (015230)?
Our model-based price target is the fair value of 13,286 KRW (as of Oct 2, 2026) from 13 valuation models. Cautious scenario 9,300 KRW, optimistic scenario 17,272 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Daechang Forgi stock forecast for 2026?
Our models put fair value at 13,286 KRW, about +103% upside versus a price of 6,540 KRW (undervalued). Cautious scenario 9,300 KRW, optimistic scenario 17,272 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Daechang Forgi (015230)?
Daechang Forgi reported trailing-twelve-month revenue of about 374B KRW (latest available figure, as of Oct 2, 2026).
Does Daechang Forgi pay a dividend?
Daechang Forgi currently shows a dividend yield of about 2.75% relative to its recent price (as of Oct 2, 2026).
What is the intrinsic value of Daechang Forgi (015230)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Daechang Forgi it is 13,286 KRW per share (as of Oct 2, 2026), against a price of 6,540 KRW. It is the blended result of 13 valuation models (cash flow, earnings, asset, dividend).
Is Daechang Forgi stock overvalued or undervalued in 2026?
As of Oct 2, 2026, 015230 trades below its calculated fair value: price 6,540 KRW, fair value 13,286 KRW, a gap of about +103% (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 015230?
No. The price is what the market pays today (6,540 KRW); the fair value is what the company's own numbers justify (13,286 KRW). For Daechang Forgi the two are 6,746 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Daechang Forgi worth?
The market values Daechang Forgi at about 165B KRW (market capitalisation, as of Oct 2, 2026). Per share that is 6,540 KRW; our models calculate a fair value of 13,286 KRW per share.
What do the bullish and bearish scenarios say about 015230?
Our models span a range for Daechang Forgi: cautious scenario 9,300 KRW, base 13,286 KRW, optimistic 17,272 KRW per share (as of Oct 2, 2026, price 6,540 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Daechang Forgi (015230)?
Balance-sheet figures for Daechang Forgi (as of Oct 2, 2026): return on equity 11.6%, debt of 0.02 per unit of equity. They feed the Quality Score of 55/100, which measures business quality independently of the share price.
How far is 015230 from its 52-week high?
Daechang Forgi trades at 6,540 KRW, about 11% below its 52-week high of 7,320 KRW and 21% above the low of 5,420 KRW (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of 13,286 KRW is for.
Which stocks are comparable to Daechang Forgi?
From the same area (Consumer Cyclical) we also value O'Reilly Automotive, Inc, AutoZone, Inc, Hyundai Mobis Co, Fuyao Glass Industry Group, 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 Daechang Forgi stock attractive at the current price?
The data as of Oct 2, 2026: price 6,540 KRW, calculated fair value 13,286 KRW (+103%), Quality Score 55/100, from 13 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 015230 calculated?
We run Daechang Forgi through 13 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 13,286 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 14.9 % above its aggregate fair value. Daechang Forgi currently trades 51 % 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 Daechang Forgi (015230)?
The closing price on Oct 2, 2026 was 6,540 KRW. Our model-based fair value is 13,286 KRW, about +103% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Daechang Forgi right now?
The price is below even our cautious bear case (9,300 KRW). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (55/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (9,300 KRW to 17,272 KRW) leaves room in how you read the outcome.
Key figures of Daechang Forgi
How large is the market capitalisation of Daechang Forgi (015230)?
The market capitalisation of Daechang Forgi is 165B KRW (≈ $123M). 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 Daechang Forgi (015230)?
The price-to-sales ratio of Daechang Forgi is 0.44 (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 Daechang Forgi (015230)?
The dividend yield of Daechang Forgi is 2.8%. 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 Daechang Forgi (015230)?
The net margin of Daechang Forgi is 8.3% (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 Daechang Forgi (015230)?
The return on equity (ROE) of Daechang Forgi is 11.6% (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 Daechang Forgi (015230)?
On an EBIT basis the return on assets of Daechang Forgi is 11.2% (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 Daechang Forgi (015230)?
The operating margin of Daechang Forgi is 15.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Daechang Forgi (015230)?
Revenue at Daechang Forgi is growing +20.0% versus a year earlier (3y avg −6.3%). 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 Daechang Forgi (015230)?
Earnings per share at Daechang Forgi are growing +221% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Daechang Forgi (015230) generate?
The free cash flow of Daechang Forgi is −10.7B KRW (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
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