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Haesung Industrial Co. Ltd (034810) fair value: what the stock is really worth

As of Sep 23, 2026: fair value of Haesung Industrial Co. Ltd KRW 4,642, price KRW 5,950, upside -22.0%, quality 42 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
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Real Estate · KR · ISIN KR7034810002

HI Some data Sep 24, 2026

Haesung Industrial Co. Ltd

034810 · KQ

Weak valuationQuality is weak on top of the rich price.

!Fair value 4,642 KRW · Overvalued (−22%)
!Quality 42/100
!Weak Growth (revenue 5y +36.4 %/yr)
✓Solidly profitable · 17.1% net margin (TTM)
!Low debt · negative free cash flow
·4.20% dividend yield
!Trails peers (3/10)
!Narrow moat 32/100
!Evidence only medium, so the estimate is less certain
!Weak on valuation: 4 out of 100
!Weak on past: 10 out of 100
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

15,285 KRW 4,966 KRW Fair Value 4,642 KRW May 2021 Sep 2026

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 4,966 KRW – 15,285 KRW · fair‑value band 3,064 KRW – 4,642 KRW · the 5,950 KRW price screens above the 4,642 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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Company profile

Haesung Industrial Co., Ltd. engages in the real estate development, rental, and management business in South Korea. It rents office buildings and apartment-type factories.

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Haesung Industrial Co., Ltd. engages in the real estate development, rental, and management business in South Korea. It rents office buildings and apartment-type factories. The company also engages in the paper manufacturing and sales; corrugated cardboard , paper box, and paper container manufacturing; white cardboard manufacturing and sales; special paper manufacturing and distribution sales; power tool manufacturing and sales; semiconductor substrate manufacturing and sales; manufacturing and sales of automobile motors; sales of power tool parts; manufacturing and sales of lead frames and related parts; and parking business. Haesung Industrial Co., Ltd. was founded in 1954 and is based in Seoul, South Korea.

Stock analysis

Haesung Industrial Co. Ltd (034810) currently trades at 5,950 KRW, while our model-based Fair Value estimate is 4,642 KRW, implying the stock looks roughly 28.2% overvalued today.

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Valuation

Bull case: the Multiples group reads highest at a median of 27,481 KRW per share, and 4 of the 4 models we run sit above the 5,950 KRW price.

Bear case: the Asset-Based group reads lowest at 16,179 KRW, and 0 of the 4 models stay below the price. Evidence for this calculation is medium.

Scenario range: 3,064 KRW (bear) to 4,642 KRW (bull), the price of 5,950 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 42/100 (below-average quality), in the Real Estate sector.

Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.

Haesung Industrial Co. Ltd reported revenue of 2.3T KRW in FY2025 versus 1.9T KRW in FY2021, a compound +4.8%/yr. Reported net income was −24.0B KRW in FY2025.

Key figures

Market cap 176B KRW (≈ $130M) · P/S ratio 8.97 · Dividend yield 4.2% · Net margin −1.1% · Return on equity 2.5% · Return on assets (EBIT) 3.0% · Operating margin 3.0% · Revenue growth (YoY) +9.9%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (medium confidence).

What moves the price

The share trades about 33% below its 52-week high and 9% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Real Estate peers we cover trades at −37% fair-value upside, at −22%, 034810 screens cheaper than that median.

Fair Value models

Bear 3,064 KRW Fair Value 4,642 KRW Bull 4,642 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.
Highest evidence
EV/EBITDA 58,039 KRW 78,580 KRW 99,120 KRW 67
EV/EBIT 19,716 KRW 27,481 KRW 35,247 KRW 66
NCAV (Graham) 12,074 KRW 16,179 KRW 24,148 KRW 54
All 4 models by family
Multiples
EV/EBIT 19,716 KRW 27,481 KRW 35,247 KRW 66
EV/EBITDA 58,039 KRW 78,580 KRW 99,120 KRW 67
EV/Revenue 9,267 KRW 14,774 KRW 20,280 KRW 53
Asset-Based
NCAV (Graham) 12,074 KRW 16,179 KRW 24,148 KRW 54

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Quality Score breakdown

Overall quality 42/100

Of which business quality 41 · Market factors (momentum, volatility) 30

Profitability 23
Margins and returns on capital today
Quality Growth 39
Are margins and returns improving?
Cashflow 14
Earnings quality: real cash, not paper profit
Fin. Strength 49
Balance sheet, leverage, solvency risk
Investment 90
Disciplined investing over empire-building
Low Volatility 55
Calm price path (market factor)
Momentum 26
Price trend over the last 3–12 months (market factor)
52W Momentum 10
Distance to the 52-week high (market factor)
Net Issuance 55
Share count: buybacks or dilution?

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Revenue & earnings trend

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. 40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+1.8%
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.
−3.7%
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.
+36.4%
Start year 2020 (pandemic). Over 10 years: +68.3% a year
Revenue growth 25 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.
+24.1%
Profit margin (trend) ⓘ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.
75.2% (2020) → 1.9% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

034810 screens 28% overvalued. Compare with Vingroup Joint Stock Company →

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Peer Groupⓘ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.Real Estate Services · 547 stocks

Beats the industry median on 3/10 measures
Overall it trails its industry peers.
Valuation
Quality Score 43 · Bottom 25%
Fair Value upside −22% · Below median
Profitability
Return on equity (TTM) 3% · Below median
Return on assets 2% · Below median
Net margin (TTM) 17% · Above median
Operating margin (TTM) 3% · Below median
Growth and dividend
Revenue growth 10% · Above median
Dividend yield (TTM) 4.2% · Above median
Balance sheet
Debt / equity 0.36× · Above median

Valuation Multiplesvs Real Estate Services median · lower = cheaper

EV/EBITDA 14.1× · Pricier than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)4 · sector 38
FUTURE (revenue growth)50 · sector 12
PAST (return on equity)10 · sector 16
HEALTH (low debt)82 · sector 83
DIVIDEND (yield)84 · sector 65

Context: sector, industry, market

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

Similar stocks

10 more Real Estate Services stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Vingroup Joint Stock Company VIC 236,000 VND 25,731 VND −89%
CBRE Group CBRE $141.05 $89.43 −37%
Vonovia SE VNA €17.09 €36.67 +115%
Cellnex Telecom, S.A CLNX €25.33 €23.78 −6%
KE Holdings 2423 HK$42.78 HK$17.18 −60%
Jones Lang LaSalle Incorporated JLL $324.06 $530.17 +64%
Swire Properties Limited 1972 HK$24.40 HK$13.50 −45%
CoStar Group CSGP $28.77 $6.17 −79%
China Resources Mixc Lifestyle Services Limited 1209 HK$37.44 HK$56.43 +51%
CapitaLand Investment Limited 9CI 2.62 SGD 0.5000 SGD −81%

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Haesung Industrial Co. Ltd · Fair Value
4,642 KRW −28%Fair Value
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Cite: Fair Value Calculator (2026). "Haesung Industrial Co. Ltd Fair Value". https://www.fairvalue-calculator.com/stock/034810

Frequently asked questions

Is Haesung Industrial Co. Ltd (034810) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 4,642 KRW versus a price of 5,950 KRW, about −22% upside (overvalued).
What is the fair value of 034810?
Our model-based fair value for Haesung Industrial Co. Ltd is 4,642 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 5,950 KRW.
What is the quality score of 034810?
Haesung Industrial Co. Ltd has a Quality Score of 42/100. 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 Haesung Industrial Co. Ltd (034810)?
Our model-based price target is the fair value of 4,642 KRW (as of Sep 24, 2026) from 4 valuation models. Cautious scenario 3,064 KRW, optimistic scenario 4,642 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Haesung Industrial Co. Ltd stock forecast for 2026?
Our models put fair value at 4,642 KRW, about −22% upside versus a price of 5,950 KRW (overvalued). Cautious scenario 3,064 KRW, optimistic scenario 4,642 KRW. The calculation is refreshed regularly with new filings.
Does Haesung Industrial Co. Ltd pay a dividend?
Haesung Industrial Co. Ltd currently shows a dividend yield of about 4.20% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Haesung Industrial Co. Ltd (034810)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Haesung Industrial Co. Ltd it is 4,642 KRW per share (as of Sep 24, 2026), against a price of 5,950 KRW. It is the blended result of 4 valuation models (cash flow, earnings, asset, dividend).
Is Haesung Industrial Co. Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 034810 trades above its calculated fair value: price 5,950 KRW, fair value 4,642 KRW, a gap of about −22% (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 034810?
No. The price is what the market pays today (5,950 KRW); the fair value is what the company's own numbers justify (4,642 KRW). For Haesung Industrial Co. Ltd the two are 1,309 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Haesung Industrial Co. Ltd worth?
The market values Haesung Industrial Co. Ltd at about 176B KRW (market capitalisation, as of Sep 24, 2026). Per share that is 5,950 KRW; our models calculate a fair value of 4,642 KRW per share.
What do the bullish and bearish scenarios say about 034810?
Our models span a range for Haesung Industrial Co. Ltd: cautious scenario 3,064 KRW, base 4,642 KRW, optimistic 4,642 KRW per share (as of Sep 24, 2026, price 5,950 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Haesung Industrial Co. Ltd (034810)?
Balance-sheet figures for Haesung Industrial Co. Ltd (as of Sep 24, 2026): return on equity 2.5%, debt of 0.36 per unit of equity. They feed the Quality Score of 42/100, which measures business quality independently of the share price.
How far is 034810 from its 52-week high?
Haesung Industrial Co. Ltd trades at 5,950 KRW, about 33% below its 52-week high of 8,870 KRW and 9% above the low of 5,450 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 4,642 KRW is for.
Which stocks are comparable to Haesung Industrial Co. Ltd?
From the same area (Real Estate) we also value Vingroup Joint Stock Company, CBRE Group, Vonovia SE, Cellnex Telecom, S.A, 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 Haesung Industrial Co. Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price 5,950 KRW, calculated fair value 4,642 KRW (−22%), Quality Score 42/100, from 4 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 034810 calculated?
We run Haesung Industrial Co. Ltd through 4 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 4,642 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 14.0 % above its aggregate fair value. Haesung Industrial Co. Ltd 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 Haesung Industrial Co. Ltd (034810)?
The closing price on Sep 23, 2026 was 5,950 KRW. Our model-based fair value is 4,642 KRW, about −22% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Haesung Industrial Co. Ltd right now?
The price sits above even our optimistic bull case (4,642 KRW). The favourable scenario is already priced in. Weak quality (42/100) and above fair value at the same time, the margin of safety is missing on both counts. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.

Key figures of Haesung Industrial Co. Ltd

How large is the market capitalisation of Haesung Industrial Co. Ltd (034810)?
The market capitalisation of Haesung Industrial Co. Ltd is 176B KRW (≈ $130M). 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 Haesung Industrial Co. Ltd (034810)?
The price-to-sales ratio of Haesung Industrial Co. Ltd is 8.97 (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 Haesung Industrial Co. Ltd (034810)?
The dividend yield of Haesung Industrial Co. Ltd is 4.2%. 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 Haesung Industrial Co. Ltd (034810)?
The net margin of Haesung Industrial Co. Ltd is −1.1% (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 Haesung Industrial Co. Ltd (034810)?
The return on equity (ROE) of Haesung Industrial Co. Ltd is 2.5% (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 Haesung Industrial Co. Ltd (034810)?
On an EBIT basis the return on assets of Haesung Industrial Co. Ltd is 3.0% (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 Haesung Industrial Co. Ltd (034810)?
The operating margin of Haesung Industrial Co. Ltd is 3.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Haesung Industrial Co. Ltd (034810)?
Revenue at Haesung Industrial Co. Ltd is growing +9.9% versus a year earlier (3y avg −3.7%). 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 Haesung Industrial Co. Ltd (034810)?
Earnings per share at Haesung Industrial Co. Ltd are growing +233% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Haesung Industrial Co. Ltd (034810) generate?
The free cash flow of Haesung Industrial Co. Ltd is −32.4B KRW (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Haesung Industrial Co. Ltd (034810) carry?
The net debt of Haesung Industrial Co. Ltd is 644B KRW (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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