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Korea Alcohol Industrial Co (017890) Fair Value & Analysis

Basic Materials · KR · Market cap 273B KRW

KA Korea Alcohol Industrial Co 017890 · KQ
Price14,510 KRW
Fair Value24,518 KRW
Upside+69.0%
Quality61/100
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Healthy Growth
Thin margins · 7.9% net margin
Low debt · generates free cash flow
0.84% dividend yield
Ranks above peers (8/10)
Narrow moat 43/100
Evidence: Medium Range 16,400 KRW – 32,160 KRW Share as image

Fair value as of: Jul 22, 2026

From 24 valuation models · updated 19 days ago

Fair value updated Jul 22, 2026, revised from 24,535 KRW to 24,518 KRW (−0.1%) since Jun 25, 2026. Share price +8.3% over the past month.

A solid business, screening 69% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (16,400 KRW). The market is more pessimistic than our downside scenario.
  • Solid quality (61/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (16,400 KRW to 32,160 KRW) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

14,510 KRW 7,356 KRW Fair Value 24,518 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 7,356 KRW – 14,510 KRW · fair‑value band 16,400 KRW – 32,160 KRW · the 14,510 KRW price screens below the 24,518 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

Korea Alcohol Industrial Co (017890) currently trades at 14,510 KRW, while our model-based Fair Value estimate is 24,518 KRW, implying the stock looks roughly 69.0% undervalued today. The Quality Score stands at 61/100 (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: medium), always confirm before acting.

Over the trailing twelve months, Korea Alcohol Industrial Co generated revenue of 425B KRW at a net margin of 7.9%. Revenue grew 0.6% year over year. It earns a return on equity of 7.1%. Net debt stands at 6.4B KRW. Fundamentals as of Jul 22, 2026

Our scenario range runs from 16,400 KRW (bear case) to 32,160 KRW (bull case); at 14,510 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 near its 52-week high and 66% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -46% fair-value upside, at 69%, 017890 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 15,432 KRW 22,215 KRW 32,222 KRW 80
Residual Income 21,018 KRW 21,698 KRW 22,080 KRW 76
Rev-Margin DCF 15,028 KRW 23,056 KRW 31,997 KRW 74
All 24 models by family
DCF Models
FCF DCF 15,065 KRW 22,505 KRW 34,077 KRW 38
Owner Earnings 10,494 KRW 15,461 KRW 23,188 KRW 31
5Y Revenue Exit 15,028 KRW 23,009 KRW 33,041 KRW 39
5Y EBITDA Exit 16,355 KRW 25,437 KRW 35,815 KRW 41
5Y P/E Exit 17,246 KRW 27,067 KRW 37,141 KRW 38
10Y Revenue Exit 14,470 KRW 21,808 KRW 31,332 KRW 36
10Y EBITDA Exit 15,776 KRW 23,513 KRW 33,454 KRW 37
10Y P/E Exit 16,352 KRW 24,657 KRW 34,469 KRW 35
Earnings-Based
Graham-Dodd 10,291 KRW 28,471 KRW 37,394 KRW 54
Lynch FV 5,689 KRW 8,127 KRW 10,565 KRW 50
PEG = 1.0 5,689 KRW 8,127 KRW 10,565 KRW 46
EPV 13,654 KRW 15,833 KRW 17,769 KRW 59
Multiples
P/E Multiple 19,296 KRW 25,728 KRW 32,160 KRW 63
P/S Multiple 19,296 KRW 25,728 KRW 32,160 KRW 58
P/B Multiple 19,296 KRW 25,728 KRW 32,160 KRW 55
EV/EBIT 17,991 KRW 23,551 KRW 29,112 KRW 53
EV/EBITDA 19,076 KRW 24,998 KRW 30,921 KRW 54
EV/Revenue 15,766 KRW 21,962 KRW 28,158 KRW 43
Asset-Based
NCAV (Graham) 13,222 KRW 17,717 KRW 26,443 KRW 50
Growth DCF
Growth DCF 15,432 KRW 22,215 KRW 32,222 KRW 80
Rev-Margin DCF 15,028 KRW 23,056 KRW 31,997 KRW 74
Economic Profit
Residual Income 21,018 KRW 21,698 KRW 22,080 KRW 76
ROIC Compounder 13,654 KRW 15,833 KRW 17,769 KRW 72
Growth Earnings
Growth-Adj P/E 15,667 KRW 22,382 KRW 29,097 KRW 68

Widest divergence: Multiples (24,998 KRW) versus Earnings-Based (8,127 KRW). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 425B KRW
Revenue growth (YoY) +0.6%
Net margin 7.9%
Return on equity 7.1%
Free cash flow 23.9B KRW FY2025
Operating margin 9.8%
More key figures
Dividend yield 0.8%
EPS growth (YoY) +87.0%
Net debt 6.4B KRW FY2022

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

Quality Score breakdown

Overall quality 61/100

Of which business quality 60 · Market factors (momentum, volatility) 74

Profitability 33
Margins and returns on capital today
Quality Growth 42
Are margins and returns improving?
Cashflow 47
Earnings quality: real cash, not paper profit
Fin. Strength 85
Balance sheet, leverage, solvency risk
Investment 70
Disciplined investing over empire-building
Low Volatility 62
Calm price path (market factor)
Momentum 70
Price trend over the last 3–12 months (market factor)
52W Momentum 93
Distance to the 52-week high (market factor)
Net Issuance 92
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

Korea Alcohol Industrial Co., Ltd. engages in the manufacture and sale of chemical products in South Korea and internationally. It offers industrial, refined, and edible ethanol; petrochemical products, including ethyl and butyl acetate; color pastes; and electronic grade normal butyl acetate and absolute ethanol.

Full company description

Korea Alcohol Industrial Co., Ltd. engages in the manufacture and sale of chemical products in South Korea and internationally. It offers industrial, refined, and edible ethanol; petrochemical products, including ethyl and butyl acetate; color pastes; and electronic grade normal butyl acetate and absolute ethanol. The company was founded in 1984 and is headquartered in Yongin-si, South Korea.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Korea Alcohol Industrial Co reported revenue of 424B KRW in FY2025 versus 502B KRW in FY2021, a compound −4.1%/yr. Reported net income was 30.6B KRW in FY2025, compounding −9.6%/yr from FY2021.

Growth Quality 62/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
424B KRW
Latest YoY
+0.7%
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.
−6.1%
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.
+2.7%
Avg. growth/yr (24Y) 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.
+7.8%
Revenue −4.1%/yr
FY21 502B KRW
FY22 513B KRW
FY23 438B KRW
FY24 421B KRW
FY25 424B KRW
Net income −9.6%/yr
FY21 45.9B KRW
FY22 30.3B KRW
FY23 10.1B KRW
FY24 24.5B KRW
FY25 30.6B KRW

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Cite: Fair Value Calculator (2026). "Korea Alcohol Industrial Co Fair Value". https://www.fairvalue-calculator.com/stock/017890

Peer Group

Chemicals · 333 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 61 · Top 25%
Fair Value upside +69% · Top 25%
Return on equity (TTM) 7% · Above median
Return on assets 3% · Above median
Net margin (TTM) 8% · Above median
Operating margin (TTM) 10% · Above median
Revenue growth 1% · Below median
Dividend yield (TTM) 0.8% · Below median
Debt / equity 0.06× · Lower than median

Valuation Multiples vs Chemicals 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.

VALUE 100 · sector 0
FUTURE 3 · sector 20
PAST 28 · sector 19
HEALTH 97 · sector 94
DIVIDEND 17 · sector 27

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

Stock Price Fair Value vs Fair Value
BASF SE BASN 1,034 MXN 532.13 MXN -49%
Ningxia Baofeng Energy Group 600989 ¥20.32 ¥20.17 -1%
Zhejiang Juhua Co 600160 ¥42.85 ¥23.35 -46%
PT Barito Pacific Tbk, BRPT 1,690 IDR 1,628 IDR -4%
LG Chem, Ltd 051910 260,500 KRW 587,755 KRW +126%
Formosa Chemicals & Fibre Corporation 1326 66.10 TWD 6.79 TWD -90%
PTT Global Chemical Public Company PTTGC 35.50 THB 18.21 THB -49%
542812 542812 ₹4,369 ₹791.05 -82%
Indorama Ventures Public Company IVL 24.50 THB 17.95 THB -27%
Navin Fluorine International Limited NAVINFLUOR ₹8,650 ₹2,146 -75%

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Frequently asked questions

Is Korea Alcohol Industrial Co (017890) overvalued or undervalued?
As of Jul 22, 2026, our model estimates a fair value of 24,518 KRW versus a price of 14,510 KRW, about +69% (undervalued).
What is the fair value of 017890?
Our model-based fair value for Korea Alcohol Industrial Co is 24,518 KRW (as of Jul 22, 2026), built from audited fundamentals. The current price is 14,510 KRW.
What is the quality score of 017890?
Korea Alcohol Industrial Co has a Quality Score of 61/100. 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 Korea Alcohol Industrial Co (017890)?
Korea Alcohol Industrial Co reported trailing-twelve-month revenue of about 425B KRW (latest available figure, as of Jul 22, 2026).
What is the net profit margin of 017890?
The net profit margin of Korea Alcohol Industrial Co is about 7.9%, meaning it keeps roughly 7.9% of revenue as net income. Based on the latest reported figures.
Does Korea Alcohol Industrial Co pay a dividend?
Korea Alcohol Industrial Co currently shows a dividend yield of about 0.89% 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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