Kangwon Land (035250) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Kangwon Land KRW 17,283, price KRW 14,320, upside +20.7%, quality 63 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
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 12,012 KRW – 24,066 KRW · fair‑value band 10,948 KRW – 22,429 KRW · the 14,320 KRW price screens below the 17,283 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 24, 2026.
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Kangwon Land, Inc. engages in the casino, tourist hotel, and ski resorts businesses in South Korea. Its business also covers condominium, golf course, and a water park. The company operates the Kangwon Land Casino with 200 game tables, 1,360 slot machines, and video games.
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Kangwon Land, Inc. engages in the casino, tourist hotel, and ski resorts businesses in South Korea. Its business also covers condominium, golf course, and a water park. The company operates the Kangwon Land Casino with 200 game tables, 1,360 slot machines, and video games. It also operates the Kangwonland Hotel, Convention Hotel, High1 Hotel, Mountain Condominium, Valley Condominium, and Hill Condo; High1 Ski Resort; High1 CC public golf course; and a gambling addiction care center, as well as High1 sports teams. Kangwon Land, Inc. was founded in 1994 and is based in Jeongseon-eup, South Korea.
Stock analysis
Kangwon Land (035250) currently trades at 14,320 KRW, while our model-based Fair Value estimate is 17,283 KRW, implying the stock looks roughly 17.1% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 29,234 KRW per share, and 13 of the 25 models we run sit above the 14,320 KRW price.
Bear case: the Earnings-Based group reads lowest at 9,375 KRW, and 12 of the 25 models stay below the price. Evidence for this calculation is medium.
Scenario range: 10,948 KRW (bear) to 22,429 KRW (bull), the price of 14,320 KRW sits inside 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 63/100 (solid quality), in the Consumer Cyclical sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Kangwon Land reported revenue of 1.5T KRW in FY2025 versus 788B KRW in FY2021, a compound +17.0%/yr. Reported net income was 318B KRW in FY2025.
Key figures
Market cap 2.9T KRW (≈ $2.0B) · P/S ratio 1.90 · Dividend yield 6.6% · Net margin 21.5% · Return on equity 7.6% · Return on assets (EBIT) 4.2% · Operating margin 18.2% · Revenue (TTM) 1.5T KRW.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (medium confidence).
What moves the price
The share trades about 23% below its 52-week high and 1% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at 46% fair-value upside, at 21%, 035250 screens richer than that median.
Fair Value models
Bear 10,948 KRWFair Value 17,283 KRWBull 22,429 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.
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.86/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+3.5%
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.
+5.1%
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.
+25.3%
Start year 2020 (pandemic). Over 10 years: −1.0% a year
Revenue growth 16 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.
+1.3%
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What shareholders gained per year (last 5 years), in KRW ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in KRW: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+5.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year−0.8%
Dividend (yield on the price)6.6%
Profit margin 2020 to 2025 ⓘ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.−90% → 16%
⚠ Revenue per share shrinking 1.0%/yr over ~6Y (margins eroding too) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Growth Forecast
A lot of optimism in the price
The price assumes less growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+6.0%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+2.5%
Yearly sales growth analysts expect, extended to five years.
After inflation (South Korea: IMF forecast 2.1% a year to 2030, 2.1% from 2016 to 2025) that is about +3.9% a year for the price and +0.4% for the forecasts.
Price, fair value, quality and upside side by side.
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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.Resorts & Casinos · 70 stocks
Beats the industry median on 9/10 measures
Overall it ranks above its industry peers.
Valuation
Quality Score63 · Top 25%
Fair Value upside+21% · Above median
Profitability
Return on equity (TTM)8% · Above median
Return on assets3% · Above median
Net margin (TTM)19% · Top 25%
Operating margin (TTM)18% · Above median
Growth and dividend
Revenue growth3% · Below median
Dividend yield (TTM)6.6% · Top 25%
Balance sheet
Debt / equity0.00× · Lowest 25%
Valuation Multiplesvs Resorts & Casinos median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Kangwon Land Fair Value". https://www.fairvalue-calculator.com/stock/035250
Frequently asked questions
Is Kangwon Land (035250) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 17,283 KRW versus a price of 14,320 KRW, about +21% upside (undervalued).
What is the fair value of 035250?
Our model-based fair value for Kangwon Land is 17,283 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 14,320 KRW.
What is the quality score of 035250?
Kangwon Land has a Quality Score of 63/100. 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 Kangwon Land (035250)?
Our model-based price target is the fair value of 17,283 KRW (as of Sep 24, 2026) from 25 valuation models. Cautious scenario 10,948 KRW, optimistic scenario 22,429 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Kangwon Land stock forecast for 2026?
Our models put fair value at 17,283 KRW, about +21% upside versus a price of 14,320 KRW (undervalued). Cautious scenario 10,948 KRW, optimistic scenario 22,429 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Kangwon Land (035250)?
Kangwon Land reported trailing-twelve-month revenue of about 1.5T KRW (latest available figure, as of Sep 24, 2026).
Does Kangwon Land pay a dividend?
Kangwon Land currently shows a dividend yield of about 6.63% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Kangwon Land (035250)?
For today's price to be fair in a discounted-cash-flow model, Kangwon Land would have to grow free cash flow by +6.0 % per year for five years (discount rate 10.2 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +25.3 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 035250 use?
Our models discount Kangwon Land at 10.2 %: a base by market capitalisation (small), damped by beta 0.46, country premium for South Korea. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Kangwon Land that is +6.0 % per year a year over ten years, using the same discount rate (10.2 %) and the same formula as our fair value.
How much growth has Kangwon Land (035250) delivered so far?
Over the past 5 years revenue at Kangwon Land grew +25.3 % a year. The price currently implies +6.0 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Kangwon Land (035250) growing?
The median revenue growth in the sector is +2.6 % a year. That is the yardstick for the growth priced into Kangwon Land (+6.0 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Kangwon Land (035250)?
The free-cash-flow yield on the price is 6.02 %: that much free cash flow Kangwon Land produces per unit of market value. When it exceeds the discount rate of our models (10.2 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Kangwon Land (035250)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Kangwon Land it is 17,283 KRW per share (as of Sep 24, 2026), against a price of 14,320 KRW. It is the blended result of 25 valuation models (cash flow, earnings, asset, dividend).
Is Kangwon Land stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 035250 trades below its calculated fair value: price 14,320 KRW, fair value 17,283 KRW, a gap of about +21% (undervalued). 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 035250?
No. The price is what the market pays today (14,320 KRW); the fair value is what the company's own numbers justify (17,283 KRW). For Kangwon Land the two are 2,963 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Kangwon Land worth?
The market values Kangwon Land at about 2.9T KRW (market capitalisation, as of Sep 24, 2026). Per share that is 14,320 KRW; our models calculate a fair value of 17,283 KRW per share.
What do the bullish and bearish scenarios say about 035250?
Our models span a range for Kangwon Land: cautious scenario 10,948 KRW, base 17,283 KRW, optimistic 22,429 KRW per share (as of Sep 24, 2026, price 14,320 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Kangwon Land (035250)?
Balance-sheet figures for Kangwon Land (as of Sep 24, 2026): return on equity 7.6%, debt of 0.00 per unit of equity. They feed the Quality Score of 63/100, which measures business quality independently of the share price.
How far is 035250 from its 52-week high?
Kangwon Land trades at 14,320 KRW, about 23% below its 52-week high of 18,499 KRW and 1% above the low of 14,110 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 17,283 KRW is for.
Which stocks are comparable to Kangwon Land?
From the same area (Consumer Cyclical) we also value Las Vegas Sands Corp, Galaxy Entertainment Group, Sands China Ltd, MGM Resorts International, through its subsidiaries,, 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 Kangwon Land stock attractive at the current price?
The data as of Sep 24, 2026: price 14,320 KRW, calculated fair value 17,283 KRW (+21%), Quality Score 63/100, from 25 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 035250 calculated?
We run Kangwon Land through 25 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 17,283 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 14.1 % above its aggregate fair value. Kangwon Land currently trades 21 % below its own fair value, and the market average says nothing about that. 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 Kangwon Land (035250)?
The closing price on Sep 23, 2026 was 14,320 KRW. Our model-based fair value is 17,283 KRW, about +21% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Kangwon Land right now?
Solid quality (63/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (10,948 KRW to 22,429 KRW) leaves room in how you read the outcome.
Key figures of Kangwon Land
How large is the market capitalisation of Kangwon Land (035250)?
The market capitalisation of Kangwon Land is 2.9T KRW (≈ $2.0B). 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 Kangwon Land (035250)?
The price-to-sales ratio of Kangwon Land is 1.90 (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 Kangwon Land (035250)?
The dividend yield of Kangwon Land is 6.6%. 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 Kangwon Land (035250)?
The net margin of Kangwon Land is 21.5% (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 Kangwon Land (035250)?
The return on equity (ROE) of Kangwon Land is 7.6% (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 Kangwon Land (035250)?
On an EBIT basis the return on assets of Kangwon Land is 4.2% (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 Kangwon Land (035250)?
The operating margin of Kangwon Land is 18.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Kangwon Land (035250)?
Revenue at Kangwon Land is growing +3.4% versus a year earlier (3y avg +5.1%). 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 Kangwon Land (035250)?
Earnings per share at Kangwon Land are growing −46.3% versus a year earlier. How much earnings per share grew versus a year earlier.
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