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COWAY Co. Ltd (021240) fair value: what the stock is really worth

As of Sep 23, 2026: fair value of COWAY Co. Ltd KRW 76,904, price KRW 99,800, upside -22.9%, quality 52 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? Yes
  3. Add to watchlist

Consumer Cyclical · KR · ISIN KR7021240007

CC Some data Sep 24, 2026

COWAY Co. Ltd

021240 · KO

Overvalued / MonitorQuality is not strong enough to offset the price risk.

!Fair value 76,904 KRW · Overvalued (−23%)
!Quality 52/100
!Expensive Growth (revenue 5y +8.9 %/yr)
✓Solidly profitable · 12.9% net margin (TTM)
!Low debt · negative free cash flow
·0.70% dividend yield
✓Ranks above peers (6/10)
!Moderate moat 63/100
!Evidence only medium, so the estimate is less certain
!The models disagree: range 57,650 KRW to 227,377 KRW
!Weak on valuation: 3 out of 100
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

109,289 KRW 36,529 KRW Fair Value 76,904 KRW Apr 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

60‑month range 36,529 KRW – 109,289 KRW · fair‑value band 57,650 KRW – 227,377 KRW · the 99,800 KRW price screens above the 76,904 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

COWAY Co., Ltd. engages in the production and sale of environmental home appliances in South Korea and internationally.

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COWAY Co., Ltd. engages in the production and sale of environmental home appliances in South Korea and internationally. The company provides air purifiers, water purifiers, bidets, juicers, water softeners, electric range, dehumidifier, humidifiers, kitchen/home appliances, mattress/massage chair, and filter/consumables; and Smart Air Care service, which provides customized solution for air conditioning. It also offers cosmetic products and rental services for its home appliances products. In addition, the company provides product management services, such as product cleaning and mattress maintenance; digital services, including IoCare application; and other services, consisting of filter recovery, water quality testing, and braille information. Further, it engages in the manufacturing of furniture and water treatment equipment; and the construction and operation of industrial water supply. The company distributes its products through door-to-door sales organizations, commercial distribution, online channels, and directly managed stores. COWAY Co., Ltd. was founded in 1989 and is headquartered in Gongju-si, South Korea.

Stock analysis

COWAY Co. Ltd (021240) currently trades at 99,800 KRW, while our model-based Fair Value estimate is 76,904 KRW, implying the stock looks roughly 29.8% overvalued today.

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Valuation

Bull case: the DCF Models group reads highest at a median of 197,187 KRW per share, and 8 of the 15 models we run sit above the 99,800 KRW price.

Bear case: the Asset-Based group reads lowest at 34,525 KRW, and 7 of the 15 models stay below the price. Evidence for this calculation is medium.

Scenario range: 57,650 KRW (bear) to 227,377 KRW (bull), the price of 99,800 KRW sits inside 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 52/100 (solid quality), in the Consumer Cyclical sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

COWAY Co. Ltd reported revenue of 5.0T KRW in FY2025 versus 3.7T KRW in FY2021, a compound +7.9%/yr. Reported net income was 618B KRW in FY2025, compounding +7.3%/yr from FY2021.

Key figures

Market cap 7.1T KRW (≈ $5.0B) · P/S ratio 1.32 · Dividend yield 0.7% · Net margin 12.4% · Return on equity 19.3% · Return on assets (EBIT) 14.8% · Operating margin 18.9% · Revenue (TTM) 5.1T KRW.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (low confidence).

What moves the price

The share trades about 7% below its 52-week high and 46% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Consumer Cyclical peers we cover trades at 1% fair-value upside, at −23%, 021240 screens richer than that median.

Fair Value models

Bear 57,650 KRW Fair Value 76,904 KRW Bull 227,377 KRW
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. 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.
Highest evidence
Owner Earnings 122,999 KRW 197,187 KRW 307,965 KRW 75
EPV 74,361 KRW 87,730 KRW 99,263 KRW 74
ROIC Compounder 79,394 KRW 103,271 KRW 132,173 KRW 72
All 15 models by family
DCF Models
Owner Earnings 122,999 KRW 197,187 KRW 307,965 KRW 75
Earnings-Based
Graham-Dodd 59,897 KRW 199,470 KRW 267,017 KRW 64
Lynch FV 45,196 KRW 64,566 KRW 83,935 KRW 61
PEG = 1.0 45,196 KRW 64,566 KRW 83,935 KRW 57
EPV 74,361 KRW 87,730 KRW 99,263 KRW 74
Multiples
P/E Multiple 145,339 KRW 193,785 KRW 242,232 KRW 63
P/S Multiple 63,700 KRW 84,933 KRW 106,167 KRW 58
P/B Multiple 112,307 KRW 149,743 KRW 187,179 KRW 55
EV/EBIT 158,837 KRW 215,217 KRW 271,598 KRW 66
EV/EBITDA 155,677 KRW 211,005 KRW 266,332 KRW 67
EV/Revenue 49,147 KRW 74,627 KRW 100,107 KRW 53
Asset-Based
NCAV (Graham) 25,765 KRW 34,525 KRW 51,530 KRW 54
Economic Profit
Residual Income 55,770 KRW 73,232 KRW 217,085 KRW 65
ROIC Compounder 79,394 KRW 103,271 KRW 132,173 KRW 72
Growth Earnings
Growth-Adj P/E 122,434 KRW 174,906 KRW 227,377 KRW 67

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Quality Score breakdown

Overall quality 52/100

Of which business quality 50 · Market factors (momentum, volatility) 63

Profitability 62
Margins and returns on capital today
Quality Growth 39
Are margins and returns improving?
Cashflow 5
Earnings quality: real cash, not paper profit
Fin. Strength 70
Balance sheet, leverage, solvency risk
Investment 40
Disciplined investing over empire-building
Low Volatility 69
Calm price path (market factor)
Momentum 61
Price trend over the last 3–12 months (market factor)
52W Momentum 58
Distance to the 52-week high (market factor)
Net Issuance 89
Share count: buybacks or dilution?

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Revenue & earnings trend

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. 56/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+15.2%
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.
+8.8%
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.
+8.9%
Start year 2020 (pandemic). Over 10 years: +7.9% a year
Revenue growth 18 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.
+8.1%
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.
+9.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year+9.2%
Dividend (yield on the price)0.7%
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.19% → 18%

021240 screens 30% overvalued. Compare with Midea Group →

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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.Furnishings, Fixtures & Appliances · 316 stocks

Beats the industry median on 6/10 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 52 · Below median
Fair Value upside −23% · Below median
Profitability
Return on equity (TTM) 19% · Top 25%
Return on assets 8% · Top 25%
Net margin (TTM) 13% · Top 25%
Operating margin (TTM) 19% · Top 25%
Growth and dividend
Revenue growth 13% · Top 25%
Dividend yield (TTM) 0.7% · Bottom 25%
Balance sheet
Debt / equity 0.25× · Highest 25%

Valuation Multiplesvs Furnishings, Fixtures & Appliances median · lower = cheaper

EV/EBITDA 0.6× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)3 · sector 32
FUTURE (revenue growth)66 · sector 0
PAST (return on equity)77 · sector 19
HEALTH (low debt)88 · sector 98
DIVIDEND (yield)14 · sector 61

Context: sector, industry, market

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

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SharkNinja, Inc SN $169.01 $100.78 −40%
Somnigroup International Inc SGI $64.73 $31.80 −51%
De'Longhi S.p.A DLG €39.52 €40.10 +1%
Mohawk Industries, Inc MHK $121.23 $119.26 −2%
Hisense Home Appliances Group 000921 ¥26.70 ¥50.62 +90%
Alliance Laundry Holdings ALH $21.59 $10.76 −50%

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COWAY Co. Ltd · Fair Value
76,904 KRW −30%Fair Value
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Cite: Fair Value Calculator (2026). "COWAY Co. Ltd Fair Value". https://www.fairvalue-calculator.com/stock/021240

Frequently asked questions

Is COWAY Co. Ltd (021240) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 76,904 KRW versus a price of 99,800 KRW, about −23% upside (overvalued).
What is the fair value of 021240?
Our model-based fair value for COWAY Co. Ltd is 76,904 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 99,800 KRW.
What is the quality score of 021240?
COWAY Co. Ltd has a Quality Score of 52/100. 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 COWAY Co. Ltd (021240)?
Our model-based price target is the fair value of 76,904 KRW (as of Sep 24, 2026) from 15 valuation models. Cautious scenario 57,650 KRW, optimistic scenario 227,377 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the COWAY Co. Ltd stock forecast for 2026?
Our models put fair value at 76,904 KRW, about −23% upside versus a price of 99,800 KRW (overvalued). Cautious scenario 57,650 KRW, optimistic scenario 227,377 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of COWAY Co. Ltd (021240)?
COWAY Co. Ltd reported trailing-twelve-month revenue of about 5.1T KRW (latest available figure, as of Sep 24, 2026).
Does COWAY Co. Ltd pay a dividend?
COWAY Co. Ltd currently shows a dividend yield of about 0.70% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of COWAY Co. Ltd (021240)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For COWAY Co. Ltd it is 76,904 KRW per share (as of Sep 24, 2026), against a price of 99,800 KRW. It is the blended result of 15 valuation models (cash flow, earnings, asset, dividend).
Is COWAY Co. Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 021240 trades above its calculated fair value: price 99,800 KRW, fair value 76,904 KRW, a gap of about −23% (overvalued). 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 021240?
No. The price is what the market pays today (99,800 KRW); the fair value is what the company's own numbers justify (76,904 KRW). For COWAY Co. Ltd the two are 22,896 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is COWAY Co. Ltd worth?
The market values COWAY Co. Ltd at about 7.1T KRW (market capitalisation, as of Sep 24, 2026). Per share that is 99,800 KRW; our models calculate a fair value of 76,904 KRW per share.
What do the bullish and bearish scenarios say about 021240?
Our models span a range for COWAY Co. Ltd: cautious scenario 57,650 KRW, base 76,904 KRW, optimistic 227,377 KRW per share (as of Sep 24, 2026, price 99,800 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of COWAY Co. Ltd (021240)?
Balance-sheet figures for COWAY Co. Ltd (as of Sep 24, 2026): return on equity 19.3%, debt of 0.25 per unit of equity. They feed the Quality Score of 52/100, which measures business quality independently of the share price.
How far is 021240 from its 52-week high?
COWAY Co. Ltd trades at 99,800 KRW, about 7% below its 52-week high of 107,500 KRW and 46% above the low of 68,451 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 76,904 KRW is for.
Which stocks are comparable to COWAY Co. Ltd?
From the same area (Consumer Cyclical) we also value Midea Group, Gree Electric Appliances, Inc, Haier Smart Home Co, King Slide Works Co, 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 COWAY Co. Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price 99,800 KRW, calculated fair value 76,904 KRW (−23%), Quality Score 52/100, from 15 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 021240 calculated?
We run COWAY Co. Ltd through 15 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 76,904 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 14.1 % above its aggregate fair value. COWAY Co. Ltd itself currently trades above fair value. 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 COWAY Co. Ltd (021240)?
The closing price on Sep 23, 2026 was 99,800 KRW. Our model-based fair value is 76,904 KRW, about −23% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with COWAY Co. Ltd right now?
The model range is unusually wide (57,650 KRW to 227,377 KRW). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid but not exceptional quality (52/100) and above fair value, neither a clear bargain nor a standout compounder.

Key figures of COWAY Co. Ltd

How large is the market capitalisation of COWAY Co. Ltd (021240)?
The market capitalisation of COWAY Co. Ltd is 7.1T KRW (≈ $5.0B). 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 COWAY Co. Ltd (021240)?
The price-to-sales ratio of COWAY Co. Ltd is 1.32 (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 COWAY Co. Ltd (021240)?
The dividend yield of COWAY Co. Ltd is 0.7%. 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 COWAY Co. Ltd (021240)?
The net margin of COWAY Co. Ltd is 12.4% (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 COWAY Co. Ltd (021240)?
The return on equity (ROE) of COWAY Co. Ltd is 19.3% (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 COWAY Co. Ltd (021240)?
On an EBIT basis the return on assets of COWAY Co. Ltd is 14.8% (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 COWAY Co. Ltd (021240)?
The operating margin of COWAY Co. Ltd is 18.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at COWAY Co. Ltd (021240)?
Revenue at COWAY Co. Ltd is growing +13.2% versus a year earlier (3y avg +8.8%). 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 COWAY Co. Ltd (021240)?
Earnings per share at COWAY Co. Ltd are growing +33.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does COWAY Co. Ltd (021240) generate?
The free cash flow of COWAY Co. Ltd is −202B KRW (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does COWAY Co. Ltd (021240) carry?
The net debt of COWAY Co. Ltd is 1.9T KRW (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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