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Wonik Corporation (032940) Fair Value & Analysis

Industrials · KR · Market cap 104B KRW

WC Wonik Corporation 032940 · KQ
Price6,010 KRW
Fair Value10,747 KRW
Upside+78.8%
Quality49/100
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Expensive Growth
Thin margins · 6.3% net margin
Low debt · negative free cash flow
Mixed vs. peers (5/9)
Narrow moat 32/100
Evidence: High Range 8,061 KRW – 13,434 KRW Share as image

Fair value as of: Jul 22, 2026

From 9 valuation models · updated 19 days ago

Share price +1.3% over the past month.

Below-average quality, screening 79% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (8,061 KRW). The market is more pessimistic than our downside scenario.
  • Solid quality (49/100) 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)

14,960 KRW 2,875 KRW Fair Value 10,747 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 2,875 KRW – 14,960 KRW · fair‑value band 8,061 KRW – 13,434 KRW · the 6,010 KRW price screens below the 10,747 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

Wonik Corporation (032940) currently trades at 6,010 KRW, while our model-based Fair Value estimate is 10,747 KRW, implying the stock looks roughly 78.8% undervalued today. The Quality Score stands at 49/100 (below-average 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, Wonik Corporation generated revenue of 151B KRW at a net margin of 6.3%. Revenue grew 1.0% year over year. It earns a return on equity of 3.4%. Net debt stands at 45.7B KRW. Fundamentals as of Jul 22, 2026

Our scenario range runs from 8,061 KRW (bear case) to 13,434 KRW (bull case); at 6,010 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 66% below its 52-week high and 6% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -14% fair-value upside, at 79%, 032940 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
Residual Income 11,569 KRW 11,348 KRW 10,122 KRW 76
Gordon GGM 0.1800 KRW 0.3800 KRW 0.6000 KRW 70
P/E Multiple 10,431 KRW 13,908 KRW 17,386 KRW 63
All 9 models by family
DCF Models
Owner Earnings 847.34 KRW 1,697 KRW 2,982 KRW 31
Earnings-Based
Graham-Dodd 4,299 KRW 12,981 KRW 17,212 KRW 54
Lynch FV 2,766 KRW 3,951 KRW 5,137 KRW 50
Dividend Discount
Gordon GGM 0.1800 KRW 0.3800 KRW 0.6000 KRW 70
DDM Multi-Stage 0.1800 KRW 0.3000 KRW 0.4000 KRW 61
Multiples
P/E Multiple 10,431 KRW 13,908 KRW 17,386 KRW 63
P/B Multiple 8,061 KRW 10,747 KRW 13,434 KRW 55
Asset-Based
NCAV (Graham) 7,802 KRW 10,455 KRW 15,605 KRW 50
Economic Profit
Residual Income 11,569 KRW 11,348 KRW 10,122 KRW 76

Widest divergence: Economic Profit (11,348 KRW) versus Dividend Discount (0.3000 KRW). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 151B KRW
Revenue growth (YoY) +1.0%
Net margin 6.3%
Return on equity 3.4%
Free cash flow −10.2B KRW FY2025
Operating margin 7.2%
More key figures
EPS growth (YoY) -62.7%
Net debt 45.7B KRW FY2025

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

Quality Score breakdown

Overall quality 49/100

Of which business quality 47 · Market factors (momentum, volatility) 12

Profitability 31
Margins and returns on capital today
Quality Growth 39
Are margins and returns improving?
Cashflow 4
Earnings quality: real cash, not paper profit
Fin. Strength 68
Balance sheet, leverage, solvency risk
Investment 83
Disciplined investing over empire-building
Low Volatility 16
Calm price path (market factor)
Momentum 8
Price trend over the last 3–12 months (market factor)
52W Momentum 14
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

Wonik Corporation engages in the semiconductor, trade and distribution, finance, cosmetics, IT and electronic parts, robots, and leisure businesses in South Korea.

Full company description

Wonik Corporation engages in the semiconductor, trade and distribution, finance, cosmetics, IT and electronic parts, robots, and leisure businesses in South Korea. The company offers process devices building circuits on substrate boards; dry etcher in black plane and thin film encapsulation; thin film solar cell equipment; quartz ware products; ceramics; lamps; semiconductor precision cleaning equipment; precursor; gas supply, purification, and monitoring systems; precursor supply systems; and plumbing construction. It also trades in medical devices, such as beauty equipment, and surgical devices and instruments; industrial raw materials and lighting-related products; chemical products of paints, inks, adhesives, papers, artificial marble, electron materials, and synthetic leather and fabrics; engineered plastics and silicon products; building materials; lipid components; and commercial and industrial printing and printers, as well as offers related management education, technical support, software upgrade, and consumable parts. In addition, it invests in and provides consultation services to small-to medium-sized venture enterprises; engages in the golf course, hotel, and garden businesses. Further, the company offers hybrid integrated circuits and RF components; prototyping, customizing and testing robotics algorithms and robots; and AllegroDog, a quadruped robot. Wonik Corporation was founded in 1981 and is based in Seongnam-si, South Korea.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Wonik Corporation reported revenue of 151B KRW in FY2025 versus 94.7B KRW in FY2021, a compound +12.3%/yr. Reported net income was 11.5B KRW in FY2025, compounding −20.3%/yr from FY2021.

Growth Quality 52/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
151B KRW
Latest YoY
+8.6%
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.
+11.7%
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.
+11.5%
Avg. growth/yr (24Y) 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.
+2.4%
Revenue +12.3%/yr
FY21 94.7B KRW
FY22 108B KRW
FY23 130B KRW
FY24 139B KRW
FY25 151B KRW
Net income −20.3%/yr
FY21 28.5B KRW
FY22 38.2B KRW
FY23 −1.7B KRW
FY24 21.1B KRW
FY25 11.5B KRW

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Cite: Fair Value Calculator (2026). "Wonik Corporation Fair Value". https://www.fairvalue-calculator.com/stock/032940

Peer Group

Conglomerates · 369 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 49 · Below median
Fair Value upside +79% · Top 25%
Return on equity (TTM) 3% · Below median
Return on assets 1% · Below median
Net margin (TTM) 6% · Above median
Operating margin (TTM) 7% · Above median
Revenue growth 1% · Below median
Debt / equity 0.05× · Lower than median

Valuation Multiples vs Conglomerates median · lower = cheaper

EV/EBITDA 1.2× · 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 20
FUTURE 5 · sector 16
PAST 14 · sector 20
HEALTH 97 · sector 88
DIVIDEND 0 · sector 39

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

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The Siam Cement Public Company SCC 254.00 THB 199.40 THB -21%
SRF Limited SRF ₹2,875 ₹1,053 -63%
Empresas Copec S.A COPEC 6,330 CLP 10,879 CLP +72%
Posco International Corporation 047050 50,900 KRW 61,248 KRW +20%
Tube Investments of India Limited TIINDIA ₹2,940 ₹559.30 -81%
Doosan Corporation 000155 464,000 KRW 75,620 KRW -84%
Thermax Limited THERMAX ₹4,809 ₹1,087 -77%

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Frequently asked questions

Is Wonik Corporation (032940) overvalued or undervalued?
As of Jul 22, 2026, our model estimates a fair value of 10,747 KRW versus a price of 6,010 KRW, about +79% (undervalued).
What is the fair value of 032940?
Our model-based fair value for Wonik Corporation is 10,747 KRW (as of Jul 22, 2026), built from audited fundamentals. The current price is 6,010 KRW.
What is the quality score of 032940?
Wonik Corporation has a Quality Score of 49/100. 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 Wonik Corporation (032940)?
Wonik Corporation reported trailing-twelve-month revenue of about 151B KRW (latest available figure, as of Jul 22, 2026).
What is the net profit margin of 032940?
The net profit margin of Wonik Corporation is about 6.3%, meaning it keeps roughly 6.3% of revenue as net income. Based on the latest reported figures.

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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