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Taewoong Co (044490) Fair Value & Analysis

Industrials · KR · Market cap 531B KRW

TC Taewoong Co 044490 · KQ
Price32,000 KRW
Fair Value4,098 KRW
Upside-87.2%
Quality45/100
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Weak Growth
Thin margins · 2.3% net margin
Low debt · generates free cash flow
Trails peers (2/9)
Narrow moat 21/100
Evidence: High Range 2,859 KRW – 5,751 KRW Share as image

Fair value as of: Jul 20, 2026

From 22 valuation models · updated 21 days ago

Share price +8.7% over the past month.

Below-average quality, and screening another 87% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (5,751 KRW). The favourable scenario is already priced in.
  • Solid but not exceptional quality (45/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (2,859 KRW to 5,751 KRW) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

58,800 KRW 3,600 KRW Fair Value 4,098 KRW Feb 2020 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 3,600 KRW – 58,800 KRW · fair‑value band 2,859 KRW – 5,751 KRW · the 32,000 KRW price screens above the 4,098 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.

Full chart & analysis →

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Analysis

Taewoong Co (044490) currently trades at 32,000 KRW, while our model-based Fair Value estimate is 4,098 KRW, implying the stock looks roughly 87.2% overvalued today. The Quality Score stands at 45/100 (below-average quality), in the Industrials 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: high).

Over the trailing twelve months, Taewoong Co generated revenue of 352B KRW at a net margin of 2.3%. Revenue grew 3.1% year over year. It earns a return on equity of 1.3%. Net debt stands at 65.4B KRW. Fundamentals as of Jul 20, 2026

Our scenario range runs from 2,859 KRW (bear case) to 5,751 KRW (bull case); at 32,000 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 48% below its 52-week high and 42% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -72% fair-value upside, at -87%, 044490 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.

Note: the current price implies far more future growth than the conservative anchors of our models allow (base growth is deliberately capped, we do not regard such extreme rates as sustainable). Our models are not designed for expectations this high; that is why the individual models scatter extremely (1,929 KRW to 20,407 KRW). Read the values as a conservative anchor, not as a price target.
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 3,154 KRW 4,150 KRW 5,922 KRW 80
Rev-Margin DCF 2,852 KRW 3,942 KRW 5,278 KRW 74
ROIC Compounder 2,914 KRW 3,317 KRW 3,675 KRW 72
All 22 models by family
DCF Models
FCF DCF 3,031 KRW 4,048 KRW 6,004 KRW 38
Owner Earnings 1,542 KRW 1,929 KRW 2,672 KRW 31
5Y Revenue Exit 2,852 KRW 3,888 KRW 5,393 KRW 39
5Y EBITDA Exit 4,494 KRW 6,731 KRW 9,695 KRW 41
5Y P/E Exit 3,050 KRW 4,231 KRW 5,643 KRW 38
10Y Revenue Exit 2,836 KRW 3,630 KRW 4,482 KRW 36
10Y EBITDA Exit 3,919 KRW 5,429 KRW 7,067 KRW 37
10Y P/E Exit 3,023 KRW 3,847 KRW 4,632 KRW 35
Earnings-Based
Graham-Dodd 1,840 KRW 2,249 KRW 2,530 KRW 54
EPV 2,914 KRW 3,317 KRW 3,675 KRW 59
Multiples
P/E Multiple 2,842 KRW 3,789 KRW 4,736 KRW 63
P/S Multiple 3,450 KRW 4,601 KRW 5,751 KRW 58
P/B Multiple 3,450 KRW 4,601 KRW 5,751 KRW 55
EV/EBIT 2,533 KRW 3,168 KRW 3,802 KRW 53
EV/EBITDA 6,156 KRW 7,997 KRW 9,839 KRW 54
EV/Revenue 2,939 KRW 3,928 KRW 4,918 KRW 43
Asset-Based
NCAV (Graham) 15,229 KRW 20,407 KRW 30,459 KRW 50
Growth DCF
Growth DCF 3,154 KRW 4,150 KRW 5,922 KRW 80
Rev-Margin DCF 2,852 KRW 3,942 KRW 5,278 KRW 74
Economic Profit
Residual Income 21,057 KRW 19,593 KRW 14,502 KRW 61
ROIC Compounder 2,914 KRW 3,317 KRW 3,675 KRW 72
Growth Earnings
Growth-Adj P/E 2,044 KRW 2,921 KRW 3,797 KRW 68

Widest divergence: Asset-Based (20,407 KRW) versus Earnings-Based (2,249 KRW). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 352B KRW
Revenue growth (YoY) +3.1%
Net margin 2.3%
Return on equity 1.3%
Free cash flow 4.7B KRW FY2025
Operating margin 3.2%
More key figures
EPS growth (YoY) +183%
Net debt 65.4B KRW FY2025

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

Quality Score breakdown

Overall quality 45/100

Of which business quality 46 · Market factors (momentum, volatility) 24

Profitability 18
Margins and returns on capital today
Quality Growth 18
Are margins and returns improving?
Cashflow 40
Earnings quality: real cash, not paper profit
Fin. Strength 60
Balance sheet, leverage, solvency risk
Investment 74
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 13
Price trend over the last 3–12 months (market factor)
52W Momentum 15
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

Taewoong Co.,Ltd manufactures and sells open-die forgings and ring rolled products in South Korea and internationally. The company offers steel products, including ingots and round blooms.

Full company description

Taewoong Co.,Ltd manufactures and sells open-die forgings and ring rolled products in South Korea and internationally. The company offers steel products, including ingots and round blooms. It also provides forging products, such as main shafts, tower flanges, inner and outer rings for pitch bearing, yaw bearings, gear rims, and slewing rings for wind energy; connectors, Christmas tree, ram bops, spiders, clamps, lower housings, wye blocks, and bop doors for oil and gas industry; and kiln tires, kiln support rollers, wheels, kiln support rollers, casting molds, backup rolls, workrolls, drums, tees, shipper shafts, and hooks for industrial machines. In addition, the company offers closure lids, diaphragms, forged cask for nuclear waste, intergrated heads, nuclear shells, and rotor shafts for power plants; intermediate and propeller shafts, pintles, rudder trunks, and rudder stocks; connecting rods, journals, crank shafts, cylinder covers, crosshead pins, and piston rods for marine engines; channel covers, cylindrical nozzles, girth flange, and forged shells and necks; and titanium and aluminum rings for defense industry. The company was formerly known as Taewoong Forging Industrial Co., Ltd. and changed its name to Taewoong Co.,Ltd in August 1989. Taewoong Co.,Ltd was founded in 1981 and is headquartered in Busan, South Korea.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Taewoong Co reported revenue of 350B KRW in FY2025 versus 322B KRW in FY2021, a compound +2.1%/yr. Reported net income was 5.4B KRW in FY2025, compounding −6.7%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
350B KRW
Latest YoY
−9.5%
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.
−3.9%
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.
+0.3%
Avg. growth/yr (11Y) 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.
−1.5%
Revenue +2.1%/yr
FY21 322B KRW
FY22 394B KRW
FY23 444B KRW
FY24 386B KRW
FY25 350B KRW
Net income −6.7%/yr
FY21 7.1B KRW
FY22 547M KRW
FY23 34.2B KRW
FY24 24.7B KRW
FY25 5.4B KRW

044490 screens 87% overvalued. Compare with Carpenter Technology Corporation →

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Cite: Fair Value Calculator (2026). "Taewoong Co Fair Value". https://www.fairvalue-calculator.com/stock/044490

Peer Group

Metal Fabrication · 244 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 45 · Below median
Fair Value upside −87% · Bottom 25%
Return on equity (TTM) 1% · Below median
Return on assets 1% · Below median
Net margin (TTM) 2% · Below median
Operating margin (TTM) 3% · Below median
Revenue growth 3% · Below median
Debt / equity 0.02× · Lower than 75% of peers

Valuation Multiples vs Metal Fabrication median · lower = cheaper

P/FCF 0.1× · 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 0 · sector 0
FUTURE 16 · sector 36
PAST 5 · sector 21
HEALTH 99 · sector 95
DIVIDEND 0 · sector 25

VALUE 0: the price sits above our fair-value range.

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.

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Frequently asked questions

Is Taewoong Co (044490) overvalued or undervalued?
As of Jul 20, 2026, our model estimates a fair value of 4,098 KRW versus a price of 32,000 KRW, about −87% (overvalued).
What is the fair value of 044490?
Our model-based fair value for Taewoong Co is 4,098 KRW (as of Jul 20, 2026), built from audited fundamentals. The current price is 32,000 KRW.
What is the quality score of 044490?
Taewoong Co has a Quality Score of 45/100. 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 Taewoong Co (044490)?
Taewoong Co reported trailing-twelve-month revenue of about 352B KRW (latest available figure, as of Jul 20, 2026).
What is the net profit margin of 044490?
The net profit margin of Taewoong Co is about 2.3%, meaning it keeps roughly 2.3% of revenue as net income. Based on the latest reported figures.

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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