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Heerim Architects & Planners Co (037440) Fair Value & Analysis

Industrials · KR · Market cap 46.6B KRW

HA Heerim Architects & Planners Co 037440 · KQ
Price4,070 KRW
Fair Value9,728 KRW
Upside+139.0%
Quality49/100
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Mixed Growth
Thin margins · 3.1% net margin
Low debt · generates free cash flow
2.71% dividend yield
Ranks above peers (6/10)
Narrow moat 30/100
Evidence: High Range 6,339 KRW – 13,156 KRW Share as image

Fair value as of: Jul 20, 2026

From 22 valuation models · updated 21 days ago

Fair value updated Jul 20, 2026, revised from 9,788 KRW to 9,728 KRW (−0.6%) since Jun 25, 2026. Share price +1.0% over the past month.

Below-average quality, screening 139% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (6,339 KRW). The market is more pessimistic than our downside scenario.
  • Solid quality (49/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (6,339 KRW to 13,156 KRW) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

12,486 KRW 3,335 KRW Fair Value 9,728 KRW Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 20, 2026.

How to read this chart

60‑month range 3,335 KRW – 12,486 KRW · fair‑value band 6,339 KRW – 13,156 KRW · the 4,070 KRW price screens below the 9,728 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 20, 2026.

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Analysis

Heerim Architects & Planners Co (037440) currently trades at 4,070 KRW, while our model-based Fair Value estimate is 9,728 KRW, implying the stock looks roughly 139.0% undervalued today. The Quality Score stands at 49/100 (below-average quality), in the Industrials 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, Heerim Architects & Planners Co generated revenue of 234B KRW at a net margin of 3.1%. Revenue grew 4.1% year over year. It earns a return on equity of 8.5%. Net debt stands at 5.9B KRW. Fundamentals as of Jul 20, 2026

Our scenario range runs from 6,339 KRW (bear case) to 13,156 KRW (bull case); at 4,070 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 45% below its 52-week high and 11% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -45% fair-value upside, at 139%, 037440 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 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
Highest evidence
Growth DCF 3,072 KRW 3,318 KRW 3,659 KRW 80
Residual Income 5,921 KRW 6,460 KRW 8,647 KRW 76
ROIC Compounder 7,071 KRW 8,143 KRW 9,425 KRW 72
All 22 models by family
DCF Models
FCF DCF 3,057 KRW 3,325 KRW 3,714 KRW 38
Owner Earnings 3,651 KRW 4,199 KRW 4,993 KRW 31
5Y Revenue Exit 5,932 KRW 8,547 KRW 11,865 KRW 39
5Y EBITDA Exit 8,924 KRW 13,937 KRW 19,678 KRW 41
5Y P/E Exit 8,183 KRW 12,602 KRW 17,109 KRW 38
10Y Revenue Exit 4,701 KRW 6,838 KRW 9,645 KRW 36
10Y EBITDA Exit 6,737 KRW 10,505 KRW 15,405 KRW 37
10Y P/E Exit 6,271 KRW 9,597 KRW 13,512 KRW 35
Earnings-Based
Graham-Dodd 4,210 KRW 10,678 KRW 13,881 KRW 54
PEG = 1.0 1,981 KRW 2,829 KRW 3,678 KRW 46
EPV 7,048 KRW 7,808 KRW 8,473 KRW 59
Multiples
P/E Multiple 9,751 KRW 13,001 KRW 16,252 KRW 63
P/S Multiple 7,894 KRW 10,525 KRW 13,156 KRW 58
P/B Multiple 7,894 KRW 10,525 KRW 13,156 KRW 55
EV/EBIT 10,011 KRW 12,518 KRW 15,026 KRW 53
EV/EBITDA 13,555 KRW 17,244 KRW 20,933 KRW 54
EV/Revenue 7,857 KRW 10,158 KRW 12,459 KRW 43
Asset-Based
NCAV (Graham) 3,465 KRW 4,643 KRW 6,930 KRW 50
Growth DCF
Growth DCF 3,072 KRW 3,318 KRW 3,659 KRW 80
Economic Profit
Residual Income 5,921 KRW 6,460 KRW 8,647 KRW 76
ROIC Compounder 7,071 KRW 8,143 KRW 9,425 KRW 72
Growth Earnings
Growth-Adj P/E 7,547 KRW 10,781 KRW 14,016 KRW 68

Widest divergence: Growth Earnings (10,781 KRW) versus Growth DCF (3,318 KRW). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 234B KRW
Revenue growth (YoY) +4.1%
Net margin 3.1%
Return on equity 8.5%
Free cash flow 664M KRW FY2025
Operating margin 1.9%
More key figures
Dividend yield 2.1%
EPS growth (YoY) -67.1%
Net debt 5.9B KRW FY2019

Figures from reported company fundamentals · as of Jul 20, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 49/100

Of which business quality 49 · Market factors (momentum, volatility) 22

Profitability 42
Margins and returns on capital today
Quality Growth 21
Are margins and returns improving?
Cashflow 34
Earnings quality: real cash, not paper profit
Fin. Strength 56
Balance sheet, leverage, solvency risk
Investment 73
Disciplined investing over empire-building
Low Volatility 34
Calm price path (market factor)
Momentum 17
Price trend over the last 3–12 months (market factor)
52W Momentum 17
Distance to the 52-week high (market factor)
Net Issuance 82
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

Heerim Architects & Planners Co., Ltd. engages in the provision of architectural services in South Korea and internationally.

Full company description

Heerim Architects & Planners Co., Ltd. engages in the provision of architectural services in South Korea and internationally. The company offers residential, architectural, interior, landscape, lighting, sustainable, and urban planning design services; and provides property development, building remodeling, business planning, architecture research, project and construction management, construction administration, and safety management services. It undertakes office, aviation and transportation, sports, healthcare, hotel and leisure, industrial, data center and logistics, commercial, residential and housing development, education, science and technology, broadcasting, convention and cultural, interior design, construction management, and master plan projects. The company was founded in 1970 and is headquartered in Seoul, South Korea.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Heerim Architects & Planners Co reported revenue of 232B KRW in FY2025 versus 212B KRW in FY2021, a compound +2.3%/yr. Reported net income was 7.8B KRW in FY2025, compounding +6.0%/yr from FY2021.

Growth Quality 29/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
232B KRW
Latest YoY
−3.8%
Avg. growth/yr (3Y) 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.
+1.6%
Avg. growth/yr (5Y) 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.
+2.6%
Avg. growth/yr (19Y) 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.
+4.8%
Revenue +2.3%/yr
FY21 212B KRW
FY22 221B KRW
FY23 229B KRW
FY24 241B KRW
FY25 232B KRW
Net income +6.0%/yr
FY21 6.2B KRW
FY22 7.2B KRW
FY23 6.2B KRW
FY24 12.9B KRW
FY25 7.8B KRW

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Cite: Fair Value Calculator (2026). "Heerim Architects & Planners Co Fair Value". https://www.fairvalue-calculator.com/stock/037440

Peer Group

Engineering & Construction · 839 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 49 · Below median
Fair Value upside +139% · Top 25%
Return on equity (TTM) 8% · Above median
Return on assets 2% · Below median
Net margin (TTM) 3% · Below median
Operating margin (TTM) 2% · Below median
Revenue growth 4% · Above median
Dividend yield (TTM) 2.7% · Above median

Valuation Multiples vs Engineering & Construction 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 16
FUTURE 21 · sector 17
PAST 34 · sector 26
HEALTH 100 · sector 94
DIVIDEND 54 · sector 33

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 Engineering & Construction stocks, each showing price versus our Fair Value estimate (as of Jul 20, 2026).

Stock Price Fair Value vs Fair Value
Larsen & Toubro Limited LT ₹3,815 ₹1,994 -48%
Samsung C&T Corporation 028260 346,000 KRW 268,779 KRW -22%
Hyundai Engineering & Construction Co 000720 99,000 KRW 63,993 KRW -35%
United Integrated Services Co 2404 1,250 TWD 925.62 TWD -26%
Samsung E&A Co 028050 42,550 KRW 44,840 KRW +5%
Rail Vikas Nigam Limited RVNL ₹232.67 ₹61.46 -74%
Daewoo Engineering & Construction Co 047040 16,240 KRW 6,507 KRW -60%
NBCC (India) Limited NBCC ₹96.32 ₹48.22 -50%
Cemindia Projects Limited CEMPRO ₹1,330 ₹730.69 -45%
KEPCO Engineering & Construction Company 052690 92,700 KRW 20,172 KRW -78%

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Frequently asked questions

Is Heerim Architects & Planners Co (037440) overvalued or undervalued?
As of Jul 20, 2026, our model estimates a fair value of 9,728 KRW versus a price of 4,070 KRW, about +139% (undervalued).
What is the fair value of 037440?
Our model-based fair value for Heerim Architects & Planners Co is 9,728 KRW (as of Jul 20, 2026), built from audited fundamentals. The current price is 4,070 KRW.
What is the quality score of 037440?
Heerim Architects & Planners Co has a Quality Score of 49/100. 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 Heerim Architects & Planners Co (037440)?
Heerim Architects & Planners Co reported trailing-twelve-month revenue of about 234B KRW (latest available figure, as of Jul 20, 2026).
What is the net profit margin of 037440?
The net profit margin of Heerim Architects & Planners Co is about 3.1%, meaning it keeps roughly 3.1% of revenue as net income. Based on the latest reported figures.
Does Heerim Architects & Planners Co pay a dividend?
Heerim Architects & Planners Co currently shows a dividend yield of about 2.12% relative to its recent price (as of Jul 20, 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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