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Dong-Ah Geological Engineering Company (028100) Fair Value & Analysis

Industrials · KR · Market cap 172B KRW

DA Dong-Ah Geological Engineering Company 028100 · KO
Price18,140 KRW
Fair Value32,668 KRW
Upside+80.1%
Quality65/100
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Healthy Growth
Thin margins · 4.1% net margin
Low debt · generates free cash flow
4.15% dividend yield
Ranks above peers (9/10)
Narrow moat 35/100
Evidence: High Range 24,501 KRW – 40,835 KRW Share as image

Fair value as of: Jul 22, 2026

From 23 valuation models · updated 19 days ago

Fair value updated Jul 22, 2026, revised from 30,887 KRW to 32,668 KRW (+5.8%) since Jun 25, 2026. Share price +10.9% over the past month.

A solid business, screening 80% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (24,501 KRW). The market is more pessimistic than our downside scenario.
  • Solid quality (65/100) 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)

19,745 KRW 10,209 KRW Fair Value 32,668 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 10,209 KRW – 19,745 KRW · fair‑value band 24,501 KRW – 40,835 KRW · the 18,140 KRW price screens below the 32,668 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

Dong-Ah Geological Engineering Company (028100) currently trades at 18,140 KRW, while our model-based Fair Value estimate is 32,668 KRW, implying the stock looks roughly 80.1% undervalued today. The Quality Score stands at 65/100 (solid quality), in the Industrials 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, Dong-Ah Geological Engineering Company generated revenue of 488B KRW at a net margin of 4.1%. Revenue grew 19.2% year over year. It earns a return on equity of 8.9%. Fundamentals as of Jul 22, 2026

Our scenario range runs from 24,501 KRW (bear case) to 40,835 KRW (bull case); at 18,140 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 3% below its 52-week high and 40% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -45% fair-value upside, at 80%, 028100 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 57,982 KRW 78,893 KRW 108,496 KRW 80
Residual Income 15,905 KRW 17,115 KRW 20,204 KRW 76
Rev-Margin DCF 36,802 KRW 46,283 KRW 57,252 KRW 74
All 23 models by family
DCF Models
FCF DCF 57,082 KRW 80,425 KRW 115,443 KRW 38
5Y Revenue Exit 36,802 KRW 45,647 KRW 56,255 KRW 39
5Y EBITDA Exit 45,627 KRW 61,946 KRW 80,435 KRW 41
5Y P/E Exit 42,465 KRW 56,106 KRW 69,975 KRW 38
10Y Revenue Exit 43,391 KRW 53,072 KRW 64,898 KRW 36
10Y EBITDA Exit 49,399 KRW 64,312 KRW 83,138 KRW 37
10Y P/E Exit 47,393 KRW 60,285 KRW 75,247 KRW 35
Earnings-Based
Graham-Dodd 10,578 KRW 30,847 KRW 40,750 KRW 54
Lynch FV 6,414 KRW 9,163 KRW 11,911 KRW 50
PEG = 1.0 6,414 KRW 9,163 KRW 11,911 KRW 46
EPV 25,682 KRW 27,827 KRW 29,704 KRW 59
Multiples
P/E Multiple 24,501 KRW 32,668 KRW 40,835 KRW 63
P/S Multiple 19,834 KRW 26,446 KRW 33,057 KRW 58
P/B Multiple 19,834 KRW 26,446 KRW 33,057 KRW 55
EV/EBIT 31,956 KRW 38,337 KRW 44,718 KRW 53
EV/EBITDA 42,820 KRW 52,823 KRW 62,825 KRW 54
EV/Revenue 26,476 KRW 32,331 KRW 38,187 KRW 43
Asset-Based
NCAV (Graham) 9,497 KRW 12,726 KRW 18,994 KRW 50
Growth DCF
Growth DCF 57,982 KRW 78,893 KRW 108,496 KRW 80
Rev-Margin DCF 36,802 KRW 46,283 KRW 57,252 KRW 74
Economic Profit
Residual Income 15,905 KRW 17,115 KRW 20,204 KRW 76
ROIC Compounder 26,510 KRW 29,969 KRW 33,901 KRW 72
Growth Earnings
Growth-Adj P/E 19,817 KRW 28,310 KRW 36,803 KRW 68

Widest divergence: DCF Models (60,285 KRW) versus Earnings-Based (9,163 KRW). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 488B KRW
Revenue growth (YoY) +19.2%
Net margin 4.1%
Return on equity 8.9%
Free cash flow 47.7B KRW FY2025
Operating margin 4.0%
More key figures
Dividend yield 4.0%
EPS growth (YoY) +58.0%

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

Quality Score breakdown

Overall quality 65/100

Of which business quality 65 · Market factors (momentum, volatility) 60

Profitability 38
Margins and returns on capital today
Quality Growth 55
Are margins and returns improving?
Cashflow 62
Earnings quality: real cash, not paper profit
Fin. Strength 74
Balance sheet, leverage, solvency risk
Investment 72
Disciplined investing over empire-building
Low Volatility 72
Calm price path (market factor)
Momentum 47
Price trend over the last 3–12 months (market factor)
52W Momentum 68
Distance to the 52-week high (market factor)
Net Issuance 100
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

Dong-Ah Geological Engineering Company Ltd. operates as a construction company in South Korea and internationally. The company undertakes tunnel construction, ground improvement, and engineering works. Dong-Ah Geological Engineering Company Ltd. was founded in 1971 and is headquartered in Busan, South Korea.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Dong-Ah Geological Engineering Company reported revenue of 468B KRW in FY2025 versus 289B KRW in FY2021, a compound +12.7%/yr. Reported net income was 18.7B KRW in FY2025, compounding +41.6%/yr from FY2021.

Growth Quality 77/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
468B KRW
Latest YoY
+18.9%
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.
+20.7%
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.
+8.3%
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.
+4.5%
Revenue +12.7%/yr
FY21 289B KRW
FY22 266B KRW
FY23 345B KRW
FY24 393B KRW
FY25 468B KRW
Net income +41.6%/yr
FY21 4.7B KRW
FY22 −22.8B KRW
FY23 10.2B KRW
FY24 11.4B KRW
FY25 18.7B KRW

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Cite: Fair Value Calculator (2026). "Dong-Ah Geological Engineering Company Fair Value". https://www.fairvalue-calculator.com/stock/028100

Peer Group

Engineering & Construction · 839 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 65 · Top 25%
Fair Value upside +80% · Top 25%
Return on equity (TTM) 9% · Above median
Return on assets 3% · Above median
Net margin (TTM) 4% · Above median
Operating margin (TTM) 4% · Below median
Revenue growth 19% · Above median
Dividend yield (TTM) 4.2% · Top 25%
Debt / equity 0.01× · Lower than median

Valuation Multiples vs Engineering & Construction 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 16
FUTURE 96 · sector 17
PAST 35 · sector 26
HEALTH 99 · sector 94
DIVIDEND 83 · sector 33

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

Stock Price Fair Value vs Fair Value
Larsen & Toubro Limited LT ₹3,815 ₹1,994 -48%
Samsung C&T Corporation 028260 346,000 KRW 268,779 KRW -22%
Hyundai Engineering & Construction Co 000720 99,000 KRW 63,993 KRW -35%
United Integrated Services Co 2404 1,250 TWD 925.62 TWD -26%
Samsung E&A Co 028050 42,550 KRW 44,840 KRW +5%
Rail Vikas Nigam Limited RVNL ₹232.67 ₹61.46 -74%
Daewoo Engineering & Construction Co 047040 16,240 KRW 6,507 KRW -60%
NBCC (India) Limited NBCC ₹96.32 ₹48.22 -50%
Cemindia Projects Limited CEMPRO ₹1,330 ₹730.69 -45%
KEPCO Engineering & Construction Company 052690 92,700 KRW 20,172 KRW -78%

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Frequently asked questions

Is Dong-Ah Geological Engineering Company (028100) overvalued or undervalued?
As of Jul 22, 2026, our model estimates a fair value of 32,668 KRW versus a price of 18,140 KRW, about +80% (undervalued).
What is the fair value of 028100?
Our model-based fair value for Dong-Ah Geological Engineering Company is 32,668 KRW (as of Jul 22, 2026), built from audited fundamentals. The current price is 18,140 KRW.
What is the quality score of 028100?
Dong-Ah Geological Engineering Company has a Quality Score of 65/100. 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 Dong-Ah Geological Engineering Company (028100)?
Dong-Ah Geological Engineering Company reported trailing-twelve-month revenue of about 488B KRW (latest available figure, as of Jul 22, 2026).
What is the net profit margin of 028100?
The net profit margin of Dong-Ah Geological Engineering Company is about 4.1%, meaning it keeps roughly 4.1% of revenue as net income. Based on the latest reported figures.
Does Dong-Ah Geological Engineering Company pay a dividend?
Dong-Ah Geological Engineering Company currently shows a dividend yield of about 4.03% 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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