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Kangwon Land, Inc (035250) Fair Value & Analysis

Consumer Cyclical · KR · Market cap 2.8T KRW

KL Kangwon Land, Inc 035250 · KO
Price14,690 KRW
Fair Value22,349 KRW
Upside+52.1%
Quality63/100
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Mixed Growth
Solidly profitable · 19.0% net margin
Low debt · generates free cash flow
6.73% dividend yield
Ranks above peers (9/10)
Moderate moat 56/100
Evidence: High Range 17,006 KRW – 27,692 KRW Share as image

Fair value as of: Jul 22, 2026

From 25 valuation models · updated 19 days ago

Fair value updated Jul 22, 2026, revised from 22,102 KRW to 22,349 KRW (+1.1%) since Jul 6, 2026. Share price −0.6% over the past month.

A solid business, screening 52% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (17,006 KRW). The market is more pessimistic than our downside scenario.
  • Solid quality (63/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

24,066 KRW 12,012 KRW Fair Value 22,349 KRW Mar 2021 Aug 2026

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 12,012 KRW – 24,066 KRW · fair‑value band 17,006 KRW – 27,692 KRW · the 14,690 KRW price screens below the 22,349 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.

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Analysis

Kangwon Land, Inc (035250) currently trades at 14,690 KRW, while our model-based Fair Value estimate is 22,349 KRW, implying the stock looks roughly 52.1% undervalued today. The Quality Score stands at 63/100 (solid quality), in the Consumer Cyclical 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: high), always confirm before acting.

Over the trailing twelve months, Kangwon Land, Inc generated revenue of 1.5T KRW at a net margin of 19.0%. Revenue grew 3.4% year over year. It earns a return on equity of 7.6%. Fundamentals as of Jul 22, 2026

Our scenario range runs from 17,006 KRW (bear case) to 27,692 KRW (bull case); at 14,690 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 25% 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 11% fair-value upside, at 52%, 035250 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.

Model BearBaseBull Evidence
Highest evidence
Growth DCF 11,243 KRW 15,922 KRW 22,736 KRW 80
Residual Income 17,077 KRW 18,456 KRW 21,950 KRW 76
Rev-Margin DCF 8,281 KRW 11,831 KRW 15,741 KRW 74
All 25 models by family
DCF Models
FCF DCF 10,942 KRW 16,003 KRW 23,730 KRW 38
Owner Earnings 17,173 KRW 25,399 KRW 37,958 KRW 31
5Y Revenue Exit 8,281 KRW 11,716 KRW 15,929 KRW 39
5Y EBITDA Exit 12,785 KRW 19,838 KRW 27,815 KRW 41
5Y P/E Exit 19,686 KRW 32,285 KRW 45,087 KRW 38
10Y Revenue Exit 8,952 KRW 12,278 KRW 16,399 KRW 36
10Y EBITDA Exit 12,037 KRW 17,936 KRW 25,374 KRW 37
10Y P/E Exit 16,473 KRW 26,607 KRW 38,417 KRW 35
Earnings-Based
Graham-Dodd 10,917 KRW 27,848 KRW 36,224 KRW 54
PEG = 1.0 5,192 KRW 7,417 KRW 9,642 KRW 46
EPV 10,215 KRW 11,845 KRW 13,294 KRW 59
Dividend Discount
Gordon GGM 11,380 KRW 23,006 KRW 41,801 KRW 70
DDM Multi-Stage 11,380 KRW 17,685 KRW 24,814 KRW 61
Multiples
P/E Multiple 26,490 KRW 35,320 KRW 44,150 KRW 63
P/S Multiple 6,706 KRW 8,941 KRW 11,176 KRW 58
P/B Multiple 20,470 KRW 27,293 KRW 34,116 KRW 55
EV/EBIT 17,006 KRW 22,349 KRW 27,692 KRW 53
EV/EBITDA 15,496 KRW 20,335 KRW 25,174 KRW 54
EV/Revenue 7,237 KRW 9,919 KRW 12,602 KRW 43
Asset-Based
NCAV (Graham) 10,002 KRW 13,402 KRW 20,003 KRW 50
Growth DCF
Growth DCF 11,243 KRW 15,922 KRW 22,736 KRW 80
Rev-Margin DCF 8,281 KRW 11,831 KRW 15,741 KRW 74
Economic Profit
Residual Income 17,077 KRW 18,456 KRW 21,950 KRW 76
ROIC Compounder 10,215 KRW 11,845 KRW 13,294 KRW 72
Growth Earnings
Growth-Adj P/E 20,464 KRW 29,234 KRW 38,004 KRW 68

Widest divergence: Growth Earnings (29,234 KRW) versus Growth DCF (11,831 KRW). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 1.5T KRW
Revenue growth (YoY) +3.4%
Net margin 19.0%
Return on equity 7.6%
Free cash flow 173B KRW FY2025
Operating margin 18.2%
More key figures
Dividend yield 6.1%
EPS growth (YoY) -46.2%

Figures from reported company fundamentals · as of Jul 22, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 63/100

Of which business quality 61 · Market factors (momentum, volatility) 39

Profitability 41
Margins and returns on capital today
Quality Growth 43
Are margins and returns improving?
Cashflow 49
Earnings quality: real cash, not paper profit
Fin. Strength 83
Balance sheet, leverage, solvency risk
Investment 71
Disciplined investing over empire-building
Low Volatility 92
Calm price path (market factor)
Momentum 20
Price trend over the last 3–12 months (market factor)
52W Momentum 11
Distance to the 52-week high (market factor)
Net Issuance 89
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

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.

Full company description

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.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Kangwon Land, Inc 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.

Growth Quality 86/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
1.5T KRW
Latest YoY
+3.5%
Avg. growth/yr (3Y)
+5.1%
Avg. growth/yr (5Y)
+25.3%
Avg. growth/yr (16Y)
+1.3%
Revenue +17.0%/yr
FY21 788B KRW
FY22 1.3T KRW
FY23 1.4T KRW
FY24 1.4T KRW
FY25 1.5T KRW
Net income
FY21 −10.6B KRW
FY22 116B KRW
FY23 341B KRW
FY24 457B KRW
FY25 318B KRW

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Cite: Fair Value Calculator (2026). "Kangwon Land, Inc Fair Value". https://www.fairvalue-calculator.com/stock/035250

Peer Group

Resorts & Casinos · 76 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 63 · Top 25%
Fair Value upside +52% · Top 25%
Return on equity (TTM) 8% · Above median
Return on assets 3% · Above median
Net margin (TTM) 19% · Top 25%
Operating margin (TTM) 18% · Above median
Revenue growth 3% · Below median
Dividend yield (TTM) 6.7% · Top 25%
Debt / equity 0.00× · Lower than 75% of peers

Valuation Multiples vs Resorts & Casinos median · lower = cheaper

P/FCF 0.0× · 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 100 · sector 19
FUTURE 17 · sector 33
PAST 30 · sector 19
HEALTH 100 · sector 84
DIVIDEND 100 · sector 52

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

Gambling

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Resorts & Casinos stocks, each showing price versus our Fair Value estimate (as of Jul 22, 2026).

Stock Price Fair Value vs Fair Value
Las Vegas Sands Corp LVS $44.79 $52.27 +17%
Galaxy Entertainment Group 0027 HK$34.20 HK$41.44 +21%
Sands China Ltd 1928 HK$13.08 HK$2.05 -84%
MGM Resorts International, through its subsidiaries, MGM $46.13 $13.70 -70%
Wynn Resorts, Limited WYNN $97.05 $69.39 -29%
Red Rock Resorts, Inc RRR $64.75 $17.09 -74%
Boyd Gaming Corporation BYD $87.64 $151.24 +73%
Caesars Entertainment, Inc CZR $29.91 $80.92 +171%
Genting Singapore Limited G13 0.6200 SGD 0.6900 SGD +11%
Vail Resorts, Inc MTN $150.14 $125.02 -17%

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Frequently asked questions

Is Kangwon Land, Inc (035250) overvalued or undervalued?
As of Jul 22, 2026, our model estimates a fair value of 22,349 KRW versus a price of 14,690 KRW, about +52% (undervalued).
What is the fair value of 035250?
Our model-based fair value for Kangwon Land, Inc is 22,349 KRW (as of Jul 22, 2026), built from audited fundamentals. The current price is 14,690 KRW.
What is the quality score of 035250?
Kangwon Land, Inc 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 revenue of Kangwon Land, Inc (035250)?
Kangwon Land, Inc reported trailing-twelve-month revenue of about 1.5T KRW (latest available figure, as of Jul 22, 2026).
What is the net profit margin of 035250?
The net profit margin of Kangwon Land, Inc is about 19.0%, meaning it keeps roughly 19.0% of revenue as net income. Based on the latest reported figures.
Does Kangwon Land, Inc pay a dividend?
Kangwon Land, Inc currently shows a dividend yield of about 6.09% relative to its recent price (as of Jul 22, 2026).

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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