Muhak Co. Ltd (033920) Fair Value & Analysis
Consumer Defensive · KR · Market cap 200B KRW
Fair value as of: Aug 13, 2026
From 13 valuation models · updated 6 days ago
Fair value updated Aug 13, 2026, revised from 21,627 KRW to 21,086 KRW (−2.5%) since Jul 22, 2026. Share price +5.9% over the past month.
A solid business, screening 174% undervalued on our models.
What matters now
- The price is below even our cautious bear case (19,338 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.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.
How to read this chart
60‑month range 3,623 KRW – 10,070 KRW · fair‑value band 19,338 KRW – 29,290 KRW · the 7,700 KRW price screens below the 21,086 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.
Analysis
Muhak Co. Ltd (033920) currently trades at 7,700 KRW, while our model-based Fair Value estimate is 21,086 KRW, implying the stock looks roughly 173.9% undervalued today. The Quality Score stands at 53/100 (solid quality), in the Consumer Defensive 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: medium), always confirm before acting.
Over the trailing twelve months, Muhak Co. Ltd generated revenue of 142B KRW at a net margin of 19.4%. Revenue declined 4.6% year over year. It earns a return on equity of 4.7%. Net debt stands at 9.4B KRW. Fundamentals as of Aug 13, 2026
Our scenario range runs from 19,338 KRW (bear case) to 29,290 KRW (bull case); at 7,700 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 24% below its 52-week high and 9% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at -3% fair-value upside, at 174%, 033920 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.
All 13 models by family
Widest divergence: DCF Models (42,862 KRW) versus Asset-Based (14,985 KRW). Highest evidence: Residual Income (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 52 · Market factors (momentum, volatility) 46
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
Muhak Co., Ltd. manufactures and sells liquors in South Korea. It offers diluted shochu products, fruit liquors, and liqueurs. The company was founded in 1929 and is headquartered in Changwon-si, South Korea.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Muhak Co. Ltd reported revenue of 144B KRW in FY2025 versus 127B KRW in FY2021, a compound +3.2%/yr. Reported net income was 50.3B KRW in FY2025.
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Peer Group
Beverages - Wineries & Distilleries · 97 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.
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.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Beverages - Wineries & Distilleries stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Kweichow Moutai Co 600519 | ¥1,343 | ¥1,238 | -8% |
| Diageo plc DEO | $93.96 | $73.29 | -22% |
| Wuliangye Yibin Co 000858 | ¥71.89 | ¥48.44 | -33% |
| Shanxi Xinghuacun Fen Wine Factory Co 600809 | ¥122.32 | ¥185.80 | +52% |
| Pernod Ricard SA RI | €68.18 | €76.13 | +12% |
| Luzhou Laojiao Co 000568 | ¥84.50 | ¥149.17 | +77% |
| Brown-Forman Corporation BFA | $28.40 | $27.69 | -3% |
| United Spirits Limited UNITDSPR | ₹1,515 | ₹381.12 | -75% |
| Thai Beverage Public Company Y92 | 0.4700 SGD | 0.7000 SGD | +49% |
| Jiangsu Yanghe Distillery Co 002304 | ¥41.62 | ¥27.82 | -33% |
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Frequently asked questions
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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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