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Doosan Enerbility Co (034020) Fair Value & Analysis

Industrials · KR · Market cap 44.5T KRW

DE Doosan Enerbility Co 034020 · KO
Price76,400 KRW
Fair Value7,938 KRW
Upside-89.6%
Quality38/100
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Healthy Growth
Thin margins · 0.9% net margin
Low debt · generates free cash flow
Trails peers (2/9)
Narrow moat 22/100
Evidence: Medium Range 4,097 KRW – 13,094 KRW Share as image

Fair value as of: Aug 7, 2026

From 24 valuation models · updated today

Fair value updated Aug 7, 2026, revised from 2,785 KRW to 7,938 KRW (+185.0%) since Jul 18, 2026. Share price −6.4% over the past month.

Below-average quality, and screening another 90% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (13,094 KRW). The favourable scenario is already priced in.
  • Weak quality (38/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • The model range is unusually wide (4,097 KRW to 13,094 KRW). The outcome hinges heavily on assumptions, so read the point estimate with caution.
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Price vs Fair Value (5 years)

136,400 KRW 7,954 KRW Fair Value 7,938 KRW Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 7, 2026.

How to read this chart

60‑month range 7,954 KRW – 136,400 KRW · fair‑value band 4,097 KRW – 13,094 KRW · the 76,400 KRW price screens above the 7,938 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 7, 2026.

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Analysis

Doosan Enerbility Co (034020) currently trades at 76,400 KRW, while our model-based Fair Value estimate is 7,938 KRW, implying the stock looks roughly 89.6% overvalued today. We read business quality at 38/100 (below-average quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).

Over the trailing twelve months, Doosan Enerbility Co generated revenue of 17.6T KRW at a net margin of 0.9%. Revenue grew 13.7% year over year. It earns a return on equity of 2.4%. Net debt stands at 2.7T KRW. Fundamentals as of Aug 7, 2026

Our scenario range runs from 4,097 KRW (bear case) to 13,094 KRW (bull case); at 76,400 KRW, the current price sits above 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 45% below its 52-week high and 67% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -42% fair-value upside, at -90%, 034020 screens richer 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 BearBaseBull Evidence
Highest evidence
Growth DCF 3,864 KRW 5,292 KRW 7,395 KRW 80
Residual Income 25,531 KRW 24,245 KRW 18,277 KRW 76
ROIC Compounder 29,699 KRW 34,787 KRW 42,088 KRW 72
All 24 models by family
DCF Models
FCF DCF 3,785 KRW 5,348 KRW 7,773 KRW 38
5Y Revenue Exit 22,129 KRW 38,963 KRW 60,554 KRW 39
5Y EBITDA Exit 36,936 KRW 65,997 KRW 99,688 KRW 41
5Y P/E Exit 5,329 KRW 8,292 KRW 11,337 KRW 38
10Y Revenue Exit 14,599 KRW 28,695 KRW 47,662 KRW 36
10Y EBITDA Exit 25,168 KRW 47,650 KRW 77,546 KRW 37
10Y P/E Exit 4,756 KRW 7,191 KRW 10,079 KRW 35
Earnings-Based
Graham-Dodd 2,699 KRW 7,381 KRW 9,682 KRW 54
Lynch FV 1,461 KRW 2,088 KRW 2,714 KRW 50
PEG = 1.0 1,461 KRW 2,088 KRW 2,714 KRW 46
EPV 29,699 KRW 34,787 KRW 39,310 KRW 59
Dividend Discount
Gordon GGM 4,870 KRW 10,632 KRW 17,888 KRW 70
DDM Multi-Stage 4,870 KRW 7,774 KRW 11,004 KRW 61
Multiples
P/E Multiple 5,954 KRW 7,938 KRW 9,923 KRW 63
P/S Multiple 5,061 KRW 6,747 KRW 8,434 KRW 58
P/B Multiple 5,061 KRW 6,747 KRW 8,434 KRW 55
EV/EBIT 49,083 KRW 65,155 KRW 81,226 KRW 53
EV/EBITDA 61,135 KRW 81,224 KRW 101,313 KRW 54
EV/Revenue 33,368 KRW 47,297 KRW 61,226 KRW 43
Asset-Based
NCAV (Graham) 18,229 KRW 24,427 KRW 36,458 KRW 50
Growth DCF
Growth DCF 3,864 KRW 5,292 KRW 7,395 KRW 80
Economic Profit
Residual Income 25,531 KRW 24,245 KRW 18,277 KRW 76
ROIC Compounder 29,699 KRW 34,787 KRW 42,088 KRW 72
Growth Earnings
Growth-Adj P/E 4,737 KRW 6,768 KRW 8,798 KRW 68

Widest divergence: DCF Models (28,695 KRW) versus Earnings-Based (2,088 KRW). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 17.6T KRW
Revenue growth (YoY) +13.7%
Net margin 0.9%
Return on equity 2.4%
Free cash flow 53.7B KRW FY2025
Operating margin 5.5%
More key figures
EPS growth (YoY) -4.1%
Net debt 2.7T KRW FY2025

Figures from reported company fundamentals · as of Aug 7, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 38/100

Of which business quality 46 · Market factors (momentum, volatility) 23

Profitability 22
Margins and returns on capital today
Quality Growth 35
Are margins and returns improving?
Cashflow 36
Earnings quality: real cash, not paper profit
Fin. Strength 45
Balance sheet, leverage, solvency risk
Investment 81
Disciplined investing over empire-building
Low Volatility 4
Calm price path (market factor)
Momentum 25
Price trend over the last 3–12 months (market factor)
52W Momentum 41
Distance to the 52-week high (market factor)
Net Issuance 81
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

Doosan Enerbility Co., Ltd. operates as an energy company in South Korea, the Americas, Asia, the Middle East, Europe, and internationally. The company offers new energy solutions, including wind power solutions, gas turbines for power generation, small modular reactors, hydrogen energy, and energy storage systems.

Full company description

Doosan Enerbility Co., Ltd. operates as an energy company in South Korea, the Americas, Asia, the Middle East, Europe, and internationally. The company offers new energy solutions, including wind power solutions, gas turbines for power generation, small modular reactors, hydrogen energy, and energy storage systems. It also engages in the manufacture of power generation equipment, including boilers, turbines, and generators; engineering, procurement, and construction of thermal power plants; general construction; seawater desalination; 3D printing technology; and castings and forgings for power plants, marine vessels, steelworks, molds and tool steel, and other various industrial facilities. In addition, it is involved in construction works, including roads, railways, bridges, industrial complexes and ports, multipurpose buildings, apartments, business facilities, educational and research facilities, and thermal and combined cycle power plants. Further, the company provides professional and financial investment services, software and system engineering, and construction equipment; produces and sells fuel cells; and operates resort and golf clubs. Doosan Enerbility Co., Ltd. was incorporated in 1962 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

Doosan Enerbility Co reported revenue of 17.1T KRW in FY2025 versus 11.3T KRW in FY2021, a compound +10.9%/yr. Reported net income was 84.8B KRW in FY2025, compounding −35.7%/yr from FY2021.

Growth Quality 62/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
17.1T KRW
Latest YoY
+5.1%
Avg. growth/yr (3Y)
+3.4%
Avg. growth/yr (5Y)
+2.4%
Avg. growth/yr (25Y)
+7.6%
Revenue +10.9%/yr
FY21 11.3T KRW
FY22 15.4T KRW
FY23 17.6T KRW
FY24 16.2T KRW
FY25 17.1T KRW
Net income −35.7%/yr
FY21 495B KRW
FY22 −772B KRW
FY23 55.6B KRW
FY24 111B KRW
FY25 84.8B KRW

034020 screens 90% overvalued. Compare with GE Vernova Inc →

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Cite: Fair Value Calculator (2026). "Doosan Enerbility Co Fair Value". https://www.fairvalue-calculator.com/stock/034020

Peer Group

Specialty Industrial Machinery · 807 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 38 · Bottom 25%
Fair Value upside −90% · Bottom 25%
Return on equity (TTM) 2% · Below median
Return on assets 2% · Below median
Net margin (TTM) 1% · Bottom 25%
Operating margin (TTM) 5% · Below median
Revenue growth 14% · Above median
Debt / equity 0.37× · Higher than 75% of peers

Valuation Multiples vs Specialty Industrial Machinery median · lower = cheaper

P/FCF 0.6× · 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 0 · sector 0
FUTURE 69 · sector 23
PAST 9 · sector 28
HEALTH 81 · sector 96
DIVIDEND 0 · sector 24

VALUE 0: the price sits above our fair-value range.

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 Specialty Industrial Machinery stocks, each showing price versus our Fair Value estimate (as of Aug 7, 2026).

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Zhejiang Sanhua Intelligent Controls Co 002050 ¥43.20 ¥22.68 -48%
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NARI Technology Co 600406 ¥22.19 ¥18.71 -16%
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Frequently asked questions

Is Doosan Enerbility Co (034020) overvalued or undervalued?
As of Aug 7, 2026, our model estimates a fair value of 7,938 KRW versus a price of 76,400 KRW, about −90% (overvalued).
What is the fair value of 034020?
Our model-based fair value for Doosan Enerbility Co is 7,938 KRW (as of Aug 7, 2026), built from audited fundamentals. The current price is 76,400 KRW.
What is the quality score of 034020?
Doosan Enerbility Co has a Quality Score of 38/100. It combines two groups: business quality (profitability, growth, cash flow, balance-sheet strength) and market factors (price momentum, distance to the 52-week high, volatility). Both subtotals are shown separately in the detail view.
What is the revenue of Doosan Enerbility Co (034020)?
Doosan Enerbility Co reported trailing-twelve-month revenue of about 17.6T KRW (latest available figure, as of Aug 7, 2026).
What is the net profit margin of 034020?
The net profit margin of Doosan Enerbility Co is about 0.9%, meaning it keeps roughly 0.9% 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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