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Jinro Distillers Co (018120) Fair Value & Analysis

Consumer Non-Cyclicals · KR · Market cap 109B KRW

JD Jinro Distillers Co 018120 · KQ
Price16,610 KRW
Fair Value29,173 KRW
Upside+75.6%
Quality69/100
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Weak Growth
Thin margins · 5.6% net margin
Low debt · generates free cash flow
6.09% dividend yield
Ranks above peers (8/9)
Narrow moat 41/100
Evidence: High Range 21,840 KRW – 36,507 KRW Share as image

Fair value as of: Jul 22, 2026

From 24 valuation models · updated 19 days ago

Share price +0.9% over the past month.

A solid business, screening 76% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (21,840 KRW). The market is more pessimistic than our downside scenario.
  • Solid quality (69/100) 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)

27,386 KRW 11,240 KRW Fair Value 29,173 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 11,240 KRW – 27,386 KRW · fair‑value band 21,840 KRW – 36,507 KRW · the 16,610 KRW price screens below the 29,173 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

Jinro Distillers Co (018120) currently trades at 16,610 KRW, while our model-based Fair Value estimate is 29,173 KRW, implying the stock looks roughly 75.6% undervalued today. The Quality Score stands at 69/100 (solid quality), in the Consumer Non-Cyclicals 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: high), always confirm before acting.

Over the trailing twelve months, Jinro Distillers Co generated revenue of 96.8B KRW at a net margin of 5.6%. Revenue declined 4.5% year over year. Net debt stands at 1.2B KRW. Fundamentals as of Jul 22, 2026

Our scenario range runs from 21,840 KRW (bear case) to 36,507 KRW (bull case); at 16,610 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 14% below its 52-week high, currently below its 200-day average. For context, the median of 10 Consumer Non-Cyclicals peers we cover trades at 11% fair-value upside, at 76%, 018120 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 22,551 KRW 29,894 KRW 43,344 KRW 80
Residual Income 11,674 KRW 14,050 KRW 26,685 KRW 76
Rev-Margin DCF 16,464 KRW 23,008 KRW 31,416 KRW 74
All 24 models by family
DCF Models
FCF DCF 21,676 KRW 29,171 KRW 44,175 KRW 38
Owner Earnings 17,911 KRW 24,077 KRW 36,421 KRW 31
5Y Revenue Exit 16,464 KRW 22,524 KRW 31,645 KRW 39
5Y EBITDA Exit 20,256 KRW 28,970 KRW 40,911 KRW 41
5Y P/E Exit 22,094 KRW 32,095 KRW 44,446 KRW 38
10Y Revenue Exit 17,928 KRW 23,379 KRW 29,393 KRW 36
10Y EBITDA Exit 20,628 KRW 27,591 KRW 35,301 KRW 37
10Y P/E Exit 21,754 KRW 29,633 KRW 37,556 KRW 35
Earnings-Based
Graham-Dodd 10,980 KRW 17,304 KRW 20,777 KRW 54
EPV 14,565 KRW 16,919 KRW 18,980 KRW 59
Dividend Discount
Gordon GGM 9,002 KRW 10,707 KRW 12,607 KRW 70
DDM Multi-Stage 9,002 KRW 11,904 KRW 15,568 KRW 61
Multiples
P/E Multiple 25,431 KRW 33,908 KRW 42,385 KRW 63
P/S Multiple 15,918 KRW 21,224 KRW 26,530 KRW 58
P/B Multiple 20,587 KRW 27,450 KRW 34,312 KRW 55
EV/EBIT 24,191 KRW 32,108 KRW 40,026 KRW 53
EV/EBITDA 22,438 KRW 29,771 KRW 37,104 KRW 54
EV/Revenue 14,366 KRW 20,335 KRW 26,304 KRW 43
Asset-Based
NCAV (Graham) 6,086 KRW 8,156 KRW 12,173 KRW 50
Growth DCF
Growth DCF 22,551 KRW 29,894 KRW 43,344 KRW 80
Rev-Margin DCF 16,464 KRW 23,008 KRW 31,416 KRW 74
Economic Profit
Residual Income 11,674 KRW 14,050 KRW 26,685 KRW 76
ROIC Compounder 14,672 KRW 17,439 KRW 20,546 KRW 72
Growth Earnings
Growth-Adj P/E 17,958 KRW 25,654 KRW 33,350 KRW 68

Widest divergence: DCF Models (27,591 KRW) versus Asset-Based (8,156 KRW). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 96.8B KRW
Revenue growth (YoY) -4.5%
Net margin 5.6%
Return on equity 1,486%
Free cash flow 16.0B KRW FY2025
Operating margin 7.1%
More key figures
Dividend yield 6.1%
EPS growth (YoY) -91.1%
Net debt 1.2B KRW FY2023

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

Quality Score breakdown

Overall quality 69/100

Of which business quality 69 · Market factors (momentum, volatility) 48

Profitability 57
Margins and returns on capital today
Quality Growth 42
Are margins and returns improving?
Cashflow 73
Earnings quality: real cash, not paper profit
Fin. Strength 82
Balance sheet, leverage, solvency risk
Investment 83
Disciplined investing over empire-building
Low Volatility 100
Calm price path (market factor)
Momentum 30
Price trend over the last 3–12 months (market factor)
52W Momentum 21
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

Jinro Distillers Co., Ltd. produces and sells alcohol for food industries in South Korea. The company was founded in 1966 and is headquartered in Ansan, South Korea.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Jinro Distillers Co reported revenue of 99.8B KRW in FY2025 versus 90.3B KRW in FY2021, a compound +2.5%/yr. Reported net income was 12.1B KRW in FY2025, compounding +6.9%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
99.8B KRW
Latest YoY
−1.6%
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.
+0.1%
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.
−0.4%
Avg. growth/yr (14Y) 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.
+2.0%
Revenue +2.5%/yr
FY21 90.3B KRW
FY22 99.6B KRW
FY23 100B KRW
FY24 101B KRW
FY25 99.8B KRW
Net income +6.9%/yr
FY21 9.3B KRW
FY22 3.3B KRW
FY23 6.1B KRW
FY24 10.2B KRW
FY25 12.1B KRW

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Cite: Fair Value Calculator (2026). "Jinro Distillers Co Fair Value". https://www.fairvalue-calculator.com/stock/018120

Peer Group

Consumer Staples · 1622 stocks

How this stock ranks against its sector: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median. (Industry “Beverages” was too small, so the broader sector is used.)

Quality Score 69 · Top 25%
Fair Value upside +76% · Top 25%
Return on assets 5% · Above median
Net margin (TTM) 6% · Above median
Operating margin (TTM) 7% · Above median
Revenue growth -5% · Below median
Dividend yield (TTM) 6.1% · Top 25%

Valuation Multiples vs Consumer Staples 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 28
FUTURE 0 · sector 15
PAST 0 · sector 27
HEALTH 100 · sector 95
DIVIDEND 100 · sector 48

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

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JGS JGS 25.00 PHP 20.51 PHP -18%
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PGOLD PGOLD 39.30 PHP 62.75 PHP +60%
RRHI RRHI 38.00 PHP 43.51 PHP +15%
CNPF CNPF 32.50 PHP 64.84 PHP +100%
540743 540743 ₹556.65 ₹616.73 +11%
DMC DMC 7.24 PHP 14.48 PHP +100%
DNL DNL 3.64 PHP 3.43 PHP -6%
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Frequently asked questions

Is Jinro Distillers Co (018120) overvalued or undervalued?
As of Jul 22, 2026, our model estimates a fair value of 29,173 KRW versus a price of 16,610 KRW, about +76% (undervalued).
What is the fair value of 018120?
Our model-based fair value for Jinro Distillers Co is 29,173 KRW (as of Jul 22, 2026), built from audited fundamentals. The current price is 16,610 KRW.
What is the quality score of 018120?
Jinro Distillers Co has a Quality Score of 69/100. 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 Jinro Distillers Co (018120)?
Jinro Distillers Co reported trailing-twelve-month revenue of about 96.8B KRW (latest available figure, as of Jul 22, 2026).
What is the net profit margin of 018120?
The net profit margin of Jinro Distillers Co is about 5.6%, meaning it keeps roughly 5.6% of revenue as net income. Based on the latest reported figures.
Does Jinro Distillers Co pay a dividend?
Jinro Distillers Co currently shows a dividend yield of about 6.09% 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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