Tae Kwang Corporation (023160) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Tae Kwang Corporation KRW 14,672, price KRW 26,400, upside -44.4%, quality 59 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
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 8,959 KRW – 48,500 KRW · fair‑value band 12,255 KRW – 21,942 KRW · the 26,400 KRW price screens above the 14,672 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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Tae Kwang Corporation manufactures, supplies, and sells butt weld pipe fittings for oil and gas, chemical and petrochemical, power plant, and shipbuilding businesses in Korea and internationally.
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Tae Kwang Corporation manufactures, supplies, and sells butt weld pipe fittings for oil and gas, chemical and petrochemical, power plant, and shipbuilding businesses in Korea and internationally. The company offers butt-welding fittings, including carbon, stainless, and alloy steel, such as elbows, tees, reducers, caps, stub ends, laterals, long bends, and crosses, as well as special, jacket, and split fittings; and forged fittings, such as carbon, stainless, and alloy steel comprises elbows, tees, reducers, sockets, couplings, bosses, crosses, caps, outlets, plugs, unions, inserts, nipples, swage nipples, and special items. It also provides flange fittings comprising carbon, stainless, and alloy steel, which include slip-ons, welding necks, threads, socket weldings, blinds, long welding necks, lap joints, grooves, and nozzle necks. The company was formerly known as Taekwang Bend Industry Company and changed its name to Tae Kwang Corporation in March 2001. Tae Kwang Corporation was founded in 1965 and is headquartered in Busan, South Korea.
Stock analysis
Tae Kwang Corporation (023160) currently trades at 26,400 KRW, while our model-based Fair Value estimate is 14,672 KRW, implying the stock looks roughly 79.9% overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 39,466 KRW per share, and 8 of the 22 models we run sit above the 26,400 KRW price.
Bear case: the Growth DCF group reads lowest at 3,599 KRW, and 14 of the 22 models stay below the price. Evidence for this calculation is low.
Scenario range: 12,255 KRW (bear) to 21,942 KRW (bull), the price of 26,400 KRW sits above 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 59/100 (solid quality), in the Industrials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Tae Kwang Corporation reported revenue of 297B KRW in FY2025 versus 185B KRW in FY2021, a compound +12.5%/yr. Reported net income was 63.9B KRW in FY2025, compounding +43.1%/yr from FY2021.
Key figures
Market cap 683B KRW (≈ $478M) · P/S ratio 2.55 · Dividend yield 1.4% · Net margin 21.5% · Return on equity 701% · Return on assets (EBIT) 6.2% · Operating margin 14.5% · Revenue (TTM) 219B KRW.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 46% below its 52-week high and 32% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at 10% fair-value upside, at −44%, 023160 screens richer than that median.
Fair Value models
Bear 12,255 KRWFair Value 14,672 KRWBull 21,942 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.
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.62/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+11.3%
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.
+5.9%
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.
+9.5%
Start year 2020 (pandemic). Over 10 years: +0.8% 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.
+0.2%
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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.
+30.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year+29.5%
Dividend (yield on the price)1.4%
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.38% vs 23%, 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.−2% → 13%
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 and more than analysts expect.
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).
+48.5%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+16.9%
Yearly sales growth analysts expect, extended to five years.
After inflation (South Korea: IMF forecast 2.1% a year to 2030, 2.1% from 2016 to 2025) that is about +45.5% a year for the price and +14.5% for the forecasts.
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.
Is Tae Kwang Corporation (023160) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 14,672 KRW versus a price of 26,400 KRW, about −44% upside (overvalued).
What is the fair value of 023160?
Our model-based fair value for Tae Kwang Corporation is 14,672 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 26,400 KRW.
What is the quality score of 023160?
Tae Kwang Corporation has a Quality Score of 59/100. 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 Tae Kwang Corporation (023160)?
Our model-based price target is the fair value of 14,672 KRW (as of Sep 24, 2026) from 22 valuation models. Cautious scenario 12,255 KRW, optimistic scenario 21,942 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Tae Kwang Corporation stock forecast for 2026?
Our models put fair value at 14,672 KRW, about −44% upside versus a price of 26,400 KRW (overvalued). Cautious scenario 12,255 KRW, optimistic scenario 21,942 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Tae Kwang Corporation (023160)?
Tae Kwang Corporation reported trailing-twelve-month revenue of about 219B KRW (latest available figure, as of Sep 24, 2026).
Does Tae Kwang Corporation pay a dividend?
Tae Kwang Corporation currently shows a dividend yield of about 1.40% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Tae Kwang Corporation (023160)?
For today's price to be fair in a discounted-cash-flow model, Tae Kwang Corporation would have to grow free cash flow by +48.5 % per year for five years (discount rate 10.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +9.5 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 023160 use?
Our models discount Tae Kwang Corporation at 10.9 %: a base by market capitalisation (small), damped by beta 0.73, 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 Tae Kwang Corporation that is +48.5 % per year a year over ten years, using the same discount rate (10.9 %) and the same formula as our fair value.
How much growth has Tae Kwang Corporation (023160) delivered so far?
Over the past 5 years revenue at Tae Kwang Corporation grew +9.5 % a year. The price currently implies +48.5 % 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 Tae Kwang Corporation (023160) growing?
The median revenue growth in the sector is +4.6 % a year. That is the yardstick for the growth priced into Tae Kwang Corporation (+48.5 % 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 Tae Kwang Corporation (023160)?
The free-cash-flow yield on the price is 0.70 %: that much free cash flow Tae Kwang Corporation produces per unit of market value. When it exceeds the discount rate of our models (10.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Tae Kwang Corporation (023160)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Tae Kwang Corporation it is 14,672 KRW per share (as of Sep 24, 2026), against a price of 26,400 KRW. It is the blended result of 22 valuation models (cash flow, earnings, asset, dividend).
Is Tae Kwang Corporation stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 023160 trades above its calculated fair value: price 26,400 KRW, fair value 14,672 KRW, a gap of about −44% (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 023160?
No. The price is what the market pays today (26,400 KRW); the fair value is what the company's own numbers justify (14,672 KRW). For Tae Kwang Corporation the two are 11,728 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Tae Kwang Corporation worth?
The market values Tae Kwang Corporation at about 683B KRW (market capitalisation, as of Sep 24, 2026). Per share that is 26,400 KRW; our models calculate a fair value of 14,672 KRW per share.
What do the bullish and bearish scenarios say about 023160?
Our models span a range for Tae Kwang Corporation: cautious scenario 12,255 KRW, base 14,672 KRW, optimistic 21,942 KRW per share (as of Sep 24, 2026, price 26,400 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Tae Kwang Corporation (023160)?
Balance-sheet figures for Tae Kwang Corporation (as of Sep 24, 2026): debt of 0.00 per unit of equity. They feed the Quality Score of 59/100, which measures business quality independently of the share price.
How far is 023160 from its 52-week high?
Tae Kwang Corporation trades at 26,400 KRW, about 46% below its 52-week high of 48,500 KRW and 32% above the low of 20,050 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 14,672 KRW is for.
Which stocks are comparable to Tae Kwang Corporation?
From the same area (Industrials) we also value BHI Co, VITZROCELL Co, Sungho Electronics Corp, 522275, 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 Tae Kwang Corporation stock attractive at the current price?
The data as of Sep 24, 2026: price 26,400 KRW, calculated fair value 14,672 KRW (−44%), Quality Score 59/100, from 22 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 023160 calculated?
We run Tae Kwang Corporation through 22 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 14,672 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 13.0 % above its aggregate fair value. Tae Kwang Corporation 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 Tae Kwang Corporation (023160)?
The closing price on Sep 23, 2026 was 26,400 KRW. Our model-based fair value is 14,672 KRW, about −44% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Tae Kwang Corporation right now?
The price sits above even our optimistic bull case (21,942 KRW). The favourable scenario is already priced in. 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 but not exceptional quality (59/100) and above fair value, neither a clear bargain nor a standout compounder.
Key figures of Tae Kwang Corporation
How large is the market capitalisation of Tae Kwang Corporation (023160)?
The market capitalisation of Tae Kwang Corporation is 683B KRW (≈ $478M). 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 Tae Kwang Corporation (023160)?
The price-to-sales ratio of Tae Kwang Corporation is 2.55 (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 Tae Kwang Corporation (023160)?
The dividend yield of Tae Kwang Corporation is 1.4%. 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 Tae Kwang Corporation (023160)?
The net margin of Tae Kwang Corporation is 21.5% (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 Tae Kwang Corporation (023160)?
The return on equity (ROE) of Tae Kwang Corporation is 701% (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 Tae Kwang Corporation (023160)?
On an EBIT basis the return on assets of Tae Kwang Corporation is 6.2% (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 Tae Kwang Corporation (023160)?
The operating margin of Tae Kwang Corporation is 14.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Tae Kwang Corporation (023160)?
Revenue at Tae Kwang Corporation is growing +37.9% versus a year earlier (3y avg +5.9%). 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 Tae Kwang Corporation (023160)?
Earnings per share at Tae Kwang Corporation are growing +28.2% versus a year earlier. How much earnings per share grew versus a year earlier.
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