Haesung Industrial Co (034810) Fair Value & Analysis
Real Estate · KR · Market cap 186B KRW
Fair value as of: Jul 22, 2026
From 4 valuation models · updated 19 days ago
Fair value updated Jul 22, 2026, revised from 5,166 KRW to 4,993 KRW (−3.3%) since Jun 26, 2026.
Below-average quality, and screening another 22% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (4,993 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.
- Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
- As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Price vs Fair Value (5 years)
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 4,966 KRW – 15,285 KRW · fair‑value band 3,296 KRW – 4,993 KRW · the 6,420 KRW price screens above the 4,993 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.
Analysis
Haesung Industrial Co (034810) currently trades at 6,420 KRW, while our model-based Fair Value estimate is 4,993 KRW, implying the stock looks roughly 22.2% overvalued today. The Quality Score stands at 42/100 (below-average quality), in the Real Estate 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: low).
Over the trailing twelve months, Haesung Industrial Co generated revenue of 20.7B KRW at a net margin of 17.1%. Revenue grew 9.9% year over year. It earns a return on equity of 2.5%. Net debt stands at 644B KRW. Fundamentals as of Jul 22, 2026
Our scenario range runs from 3,296 KRW (bear case) to 4,993 KRW (bull case); at 6,420 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 29% below its 52-week high and 13% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at -9% fair-value upside, at -22%, 034810 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.
All 4 models by family
Widest divergence: Multiples (27,481 KRW) versus Asset-Based (16,179 KRW). Highest evidence: EV/EBITDA (54).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 22, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 41 · Market factors (momentum, volatility) 28
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
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.
Full company description
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.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Haesung Industrial Co 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.
034810 screens 22% overvalued. Compare with Vingroup Joint Stock Company →
Peer Group
Real Estate Services · 520 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.
Valuation Multiples vs Real Estate Services median · lower = cheaper
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 Real Estate Services stocks, each showing price versus our Fair Value estimate (as of Jul 22, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Vingroup Joint Stock Company VIC | 223,000 VND | 25,731 VND | -88% |
| KE Holdings 2423 | HK$44.76 | HK$18.03 | -60% |
| Swire Properties Limited 1972 | HK$23.90 | HK$18.75 | -22% |
| China Resources Mixc Lifestyle Services Limited 1209 | HK$39.92 | HK$34.92 | -13% |
| Plaza S.A MALLPLAZA | 3,725 CLP | 5,571 CLP | +50% |
| SAGAA SAGAA | kr 170.00 | kr 75.55 | -56% |
| Cencosud Shopping S.A CENCOMALLS | 2,324 CLP | 2,976 CLP | +28% |
| PT Sarana Menara Nusantara Tbk. owns and TOWR | 372.00 IDR | 1,208 IDR | +225% |
| PT Metropolitan Kentjana Tbk MKPI | 20,975 IDR | 19,160 IDR | -9% |
| PT Bangun Kosambi Sukses Tbk, CBDK | 3,530 IDR | 3,464 IDR | -2% |
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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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