Cubic Korea Inc (021650) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Cubic Korea Inc KRW 5,319, price KRW 1,939, upside +174.3%, quality 53 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 3, 2026.
How to read this chart
60‑month range 1,774 KRW – 5,713 KRW · fair‑value band 3,796 KRW – 6,915 KRW · the 1,939 KRW price screens below the 5,319 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 3, 2026.
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Cubic Korea Inc. engages in curved surface printing business in South Korea and internationally. The company develops printing patterns to plastic molded parts, aluminum, metal components, and urethane materials.
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Cubic Korea Inc. engages in curved surface printing business in South Korea and internationally. The company develops printing patterns to plastic molded parts, aluminum, metal components, and urethane materials. It also engages in developing, manufacturing, and producing automobile exterior and interior parts, including radiator grilles, moldings, steering wheels, wheel caps, emblems, etc. Cubic Korea Inc. was founded in 1989 and is headquartered in Ansan-si, South Korea.
Stock analysis
Cubic Korea Inc (021650) currently trades at 1,939 KRW, while our model-based Fair Value estimate is 5,319 KRW, implying the stock looks roughly 63.5% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 5,931 KRW per share, and 21 of the 23 models we run sit above the 1,939 KRW price.
Bear case: the Growth DCF group reads lowest at 1,843 KRW, and 2 of the 23 models stay below the price. Evidence for this calculation is medium.
Scenario range: 3,796 KRW (bear) to 6,915 KRW (bull), the price of 1,939 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 53/100 (solid quality), in the Industrials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Cubic Korea Inc reported revenue of 227B KRW in FY2025 versus 172B KRW in FY2021, a compound +7.2%/yr. Reported net income was 4.6B KRW in FY2025, compounding −11.5%/yr from FY2021.
Key figures
Market cap 31.5B KRW (≈ $23.4M) · P/S ratio 0.15 · Dividend yield 5.2% · Net margin 2.0% · Return on equity 4.0% · Return on assets (EBIT) 6.0% · Operating margin 1.8% · Revenue (TTM) 213B KRW.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (low confidence).
What moves the price
The share trades about 23% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at 1% fair-value upside, at 174%, 021650 screens cheaper than that median.
Fair Value models
Bear 3,796 KRWFair Value 5,319 KRWBull 6,915 KRW
Price 1,939 KRW · Upside +174.3%
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.45/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−9.9%
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.
+2.7%
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.
+5.9%
Start year 2020 (pandemic). Over 10 years: +7.5% a year
Revenue growth 16 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.
+10.9%
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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. Basis: EBIT basis. 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.
+2.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year−2.7%
Dividend (yield on the price)5.2%
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.−9.3% vs 5.0%, slowing
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% → 4%
Start year 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+56.7%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (South Korea: IMF forecast 2.1% a year to 2030, 2.1% from 2016 to 2025) that is about +53.5% a year for the price.
Price, fair value, quality and upside side by side.
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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.Specialty Business Services · 234 stocks
Beats the industry median on 4/10 measures
A mixed picture versus its industry peers.
Valuation
Quality Score53 · Below median
Fair Value upside+174.3% · Top 25%
Profitability
Return on equity (TTM)4.0% · Below median
Return on assets1.5% · Below median
Net margin (TTM)1.8% · Below median
Operating margin (TTM)1.8% · Below median
Growth and dividend
Revenue growth−12.7% · Bottom 25%
Dividend yield (TTM)5.2% · Top 25%
Balance sheet
Debt / equity0.02× · Below median
Valuation Multiplesvs Specialty Business Services median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Cubic Korea Inc Fair Value". https://www.fairvalue-calculator.com/stock/021650
Frequently asked questions
Is Cubic Korea Inc (021650) overvalued or undervalued?
As of Oct 3, 2026, our model estimates a fair value of 5,319 KRW versus a price of 1,939 KRW, about +174% upside (undervalued).
What is the fair value of 021650?
Our model-based fair value for Cubic Korea Inc is 5,319 KRW (as of Oct 3, 2026), built from audited fundamentals. The current price: 1,939 KRW.
What is the quality score of 021650?
Cubic Korea Inc has a Quality Score of 53/100. 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 Cubic Korea Inc (021650)?
Our model-based price target is the fair value of 5,319 KRW (as of Oct 3, 2026) from 23 valuation models. Cautious scenario 3,796 KRW, optimistic scenario 6,915 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Cubic Korea Inc stock forecast for 2026?
Our models put fair value at 5,319 KRW, about +174% upside versus a price of 1,939 KRW (undervalued). Cautious scenario 3,796 KRW, optimistic scenario 6,915 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Cubic Korea Inc (021650)?
Cubic Korea Inc reported trailing-twelve-month revenue of about 213B KRW (latest available figure, as of Oct 3, 2026).
Does Cubic Korea Inc pay a dividend?
Cubic Korea Inc currently shows a dividend yield of about 5.16% relative to its recent price (as of Oct 3, 2026).
What growth is priced into Cubic Korea Inc (021650)?
For today's price to be fair in a discounted-cash-flow model, Cubic Korea Inc would have to grow free cash flow by +56.7 % per year for five years (discount rate 9.2 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +5.9 % per year. As of Oct 3, 2026.
What discount rate (WACC) does the fair value of 021650 use?
Our models discount Cubic Korea Inc at 9.2 %: a base by market capitalisation (nano), damped by beta 0.62, country premium for South Korea. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Cubic Korea Inc that is +56.7 % per year a year over ten years, using the same discount rate (9.2 %) and the same formula as our fair value.
How much growth has Cubic Korea Inc (021650) delivered so far?
Over the past 5 years revenue at Cubic Korea Inc grew +5.9 % a year. The price currently implies +56.7 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Cubic Korea Inc (021650) growing?
The median revenue growth in the sector is +7.4 % a year. That is the yardstick for the growth priced into Cubic Korea Inc (+56.7 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Cubic Korea Inc (021650)?
The free-cash-flow yield on the price is 0.45 %: that much free cash flow Cubic Korea Inc produces per unit of market value. When it exceeds the discount rate of our models (9.2 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Cubic Korea Inc (021650)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Cubic Korea Inc it is 5,319 KRW per share (as of Oct 3, 2026), against a price of 1,939 KRW. It is the blended result of 23 valuation models (cash flow, earnings, asset, dividend).
Is Cubic Korea Inc stock overvalued or undervalued in 2026?
As of Oct 3, 2026, 021650 trades below its calculated fair value: price 1,939 KRW, fair value 5,319 KRW, a gap of about +174% (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 021650?
No. The price is what the market pays today (1,939 KRW); the fair value is what the company's own numbers justify (5,319 KRW). For Cubic Korea Inc the two are 3,380 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Cubic Korea Inc worth?
The market values Cubic Korea Inc at about 31.5B KRW (market capitalisation, as of Oct 3, 2026). Per share that is 1,939 KRW; our models calculate a fair value of 5,319 KRW per share.
What do the bullish and bearish scenarios say about 021650?
Our models span a range for Cubic Korea Inc: cautious scenario 3,796 KRW, base 5,319 KRW, optimistic 6,915 KRW per share (as of Oct 3, 2026, price 1,939 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Cubic Korea Inc (021650)?
Balance-sheet figures for Cubic Korea Inc (as of Oct 3, 2026): return on equity 4.0%, debt of 0.02 per unit of equity. They feed the Quality Score of 53/100, which measures business quality independently of the share price.
How far is 021650 from its 52-week high?
Cubic Korea Inc trades at 1,939 KRW, about 23% below its 52-week high of 2,510 KRW and at the low of 1,936 KRW (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of 5,319 KRW is for.
Which stocks are comparable to Cubic Korea Inc?
From the same area (Industrials) we also value Cintas Corporation, Thomson Reuters Corporation, Copart, Inc, Global Payments Inc, 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 Cubic Korea Inc stock attractive at the current price?
The data as of Oct 3, 2026: price 1,939 KRW, calculated fair value 5,319 KRW (+174%), Quality Score 53/100, from 23 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 021650 calculated?
We run Cubic Korea Inc through 23 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 5,319 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 15.0 % above its aggregate fair value. Cubic Korea Inc currently trades 64 % 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 Cubic Korea Inc (021650)?
The closing price on Oct 2, 2026 was 1,939 KRW. Our model-based fair value is 5,319 KRW, about +174% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Cubic Korea Inc right now?
The price is below even our cautious bear case (3,796 KRW). The market is more pessimistic than our downside scenario. Solid quality (53/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (3,796 KRW to 6,915 KRW) leaves room in how you read the outcome.
Key figures of Cubic Korea Inc
How large is the market capitalisation of Cubic Korea Inc (021650)?
The market capitalisation of Cubic Korea Inc is 31.5B KRW (≈ $23.4M). 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 Cubic Korea Inc (021650)?
The price-to-sales ratio of Cubic Korea Inc is 0.15 (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 Cubic Korea Inc (021650)?
The dividend yield of Cubic Korea Inc is 5.2%. 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 Cubic Korea Inc (021650)?
The net margin of Cubic Korea Inc is 2.0% (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 Cubic Korea Inc (021650)?
The return on equity (ROE) of Cubic Korea Inc is 4.0% (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 Cubic Korea Inc (021650)?
On an EBIT basis the return on assets of Cubic Korea Inc is 6.0% (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 Cubic Korea Inc (021650)?
The operating margin of Cubic Korea Inc is 1.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Cubic Korea Inc (021650)?
Revenue at Cubic Korea Inc is growing −12.7% versus a year earlier (3y avg +2.7%). 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 Cubic Korea Inc (021650)?
Earnings per share at Cubic Korea Inc are growing −28.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Cubic Korea Inc (021650) carry?
The net debt of Cubic Korea Inc is 2.1B KRW (fiscal year 2025, ≈ 15.2 yrs of FCF). 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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