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Zungwon En-Sys Inc (045510) Fair Value & Analysis

Technology · KR · Market cap 27.4B KRW

ZE Zungwon En-Sys Inc 045510 · KQ
Price1,032 KRW
Fair Value714.62 KRW
Upside-30.8%
Quality65/100
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Healthy Growth
Thin margins · 0.8% net margin
Low debt · generates free cash flow
Mixed vs. peers (4/9)
Narrow moat 28/100
Evidence: High Range 535.39 KRW – 893.28 KRW Share as image

Fair value as of: Jul 22, 2026

From 23 valuation models · updated 19 days ago

Share price +37.6% over the past month.

A solid business, but screening 31% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (893.28 KRW). The favourable scenario is already priced in.
  • Solid but not exceptional quality (65/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

4,055 KRW 675.00 KRW Fair Value 714.62 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 675.00 KRW – 4,055 KRW · fair‑value band 535.39 KRW – 893.28 KRW · the 1,032 KRW price screens above the 714.62 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

Zungwon En-Sys Inc (045510) currently trades at 1,032 KRW, while our model-based Fair Value estimate is 714.62 KRW, implying the stock looks roughly 30.8% overvalued today. The Quality Score stands at 65/100 (solid quality), in the Technology 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, Zungwon En-Sys Inc generated revenue of 236B KRW at a net margin of 0.8%. Revenue grew 87.7% year over year. It earns a return on equity of 4.1%. Net debt stands at 8.1B KRW. Fundamentals as of Jul 22, 2026

Our scenario range runs from 535.39 KRW (bear case) to 893.28 KRW (bull case); at 1,032 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 39% below its 52-week high and 60% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -33% fair-value upside, at -31%, 045510 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 5,746 KRW 7,852 KRW 10,706 KRW 80
Rev-Margin DCF 2,584 KRW 3,099 KRW 3,690 KRW 74
ROIC Compounder 863.30 KRW 951.38 KRW 1,028 KRW 72
All 23 models by family
DCF Models
FCF DCF 5,583 KRW 7,830 KRW 11,004 KRW 38
Owner Earnings 764.15 KRW 947.99 KRW 1,208 KRW 31
5Y Revenue Exit 2,584 KRW 2,995 KRW 3,435 KRW 39
5Y EBITDA Exit 2,690 KRW 3,182 KRW 3,681 KRW 41
5Y P/E Exit 2,548 KRW 2,932 KRW 3,279 KRW 38
10Y Revenue Exit 3,650 KRW 4,220 KRW 4,814 KRW 36
10Y EBITDA Exit 3,732 KRW 4,346 KRW 4,992 KRW 37
10Y P/E Exit 3,644 KRW 4,177 KRW 4,701 KRW 35
Earnings-Based
Graham-Dodd 242.97 KRW 542.92 KRW 693.80 KRW 54
PEG = 1.0 88.04 KRW 125.77 KRW 163.51 KRW 46
EPV 863.30 KRW 951.38 KRW 1,028 KRW 59
Multiples
P/E Multiple 535.97 KRW 714.62 KRW 893.28 KRW 63
P/S Multiple 455.57 KRW 607.43 KRW 759.29 KRW 58
P/B Multiple 455.57 KRW 607.43 KRW 759.29 KRW 55
EV/EBIT 1,167 KRW 1,445 KRW 1,722 KRW 53
EV/EBITDA 1,127 KRW 1,391 KRW 1,655 KRW 54
EV/Revenue 895.89 KRW 1,136 KRW 1,377 KRW 43
Asset-Based
NCAV (Graham) 716.28 KRW 959.82 KRW 1,433 KRW 50
Growth DCF
Growth DCF 5,746 KRW 7,852 KRW 10,706 KRW 80
Rev-Margin DCF 2,584 KRW 3,099 KRW 3,690 KRW 74
Economic Profit
Residual Income 1,022 KRW 979.89 KRW 798.72 KRW 61
ROIC Compounder 863.30 KRW 951.38 KRW 1,028 KRW 72
Growth Earnings
Growth-Adj P/E 401.23 KRW 573.18 KRW 745.14 KRW 68

Widest divergence: DCF Models (3,182 KRW) versus Earnings-Based (542.92 KRW). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 236B KRW
Revenue growth (YoY) +87.7%
Net margin 0.8%
Return on equity 4.1%
Free cash flow 15.6B KRW FY2025
Operating margin 1.5%
More key figures
EPS growth (YoY) +32,369%
Net debt 8.1B KRW FY2024

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

Quality Score breakdown

Overall quality 65/100

Of which business quality 65 · Market factors (momentum, volatility) 40

Profitability 37
Margins and returns on capital today
Quality Growth 57
Are margins and returns improving?
Cashflow 70
Earnings quality: real cash, not paper profit
Fin. Strength 65
Balance sheet, leverage, solvency risk
Investment 95
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 32
Price trend over the last 3–12 months (market factor)
52W Momentum 40
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

Zungwon En-Sys Inc., an information technology specialized company, engages in the providing products and services for computer system integration in South Korea and internationally.

Full company description

Zungwon En-Sys Inc., an information technology specialized company, engages in the providing products and services for computer system integration in South Korea and internationally. It distributes computer equipment, such as servers, storage, and computers, as well as offers maintenance and repair services for computer systems, computer programming, system integration and management, computer and peripherals devices. Zungwon En-Sys Inc. was formerly known as Zungwon Engineering & Systems Inc. Zungwon En-Sys Inc. was founded in 1969 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

Zungwon En-Sys Inc reported revenue of 201B KRW in FY2025 versus 166B KRW in FY2021, a compound +4.8%/yr. Reported net income was 1.1B KRW in FY2025, compounding +8.5%/yr from FY2021.

Growth Quality 62/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
201B KRW
Latest YoY
+3.3%
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.
+6.5%
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.
+3.1%
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.
+4.1%
Revenue +4.8%/yr
FY21 166B KRW
FY22 166B KRW
FY23 180B KRW
FY24 194B KRW
FY25 201B KRW
Net income +8.5%/yr
FY21 812M KRW
FY22 1.2B KRW
FY23 1.7B KRW
FY24 946M KRW
FY25 1.1B KRW

045510 screens 31% overvalued. Compare with TD SYNNEX Corporation →

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Cite: Fair Value Calculator (2026). "Zungwon En-Sys Inc Fair Value". https://www.fairvalue-calculator.com/stock/045510

Peer Group

Electronics & Computer Distribution · 151 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 65 · Top 25%
Fair Value upside −31% · Below median
Return on equity (TTM) 4% · Below median
Return on assets 2% · Below median
Net margin (TTM) 1% · Below median
Operating margin (TTM) 1% · Below median
Revenue growth 88% · Top 25%

Valuation Multiples vs Electronics & Computer Distribution 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 0 · sector 14
FUTURE 100 · sector 57
PAST 16 · sector 36
HEALTH 100 · sector 98
DIVIDEND 0 · sector 39

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.

Similar stocks

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

Stock Price Fair Value vs Fair Value
TD SYNNEX Corporation SNX $251.52 $207.02 -18%
Unisplendour Corporation 000938 ¥38.59 ¥11.79 -69%
Rexel S.A RXL €38.59 €33.31 -14%
Arrow Electronics, Inc ARW $204.10 $115.40 -43%
Avnet, Inc AVT $87.13 $58.57 -33%
WPG Holdings 3702 106.50 TWD 102.31 TWD -4%
Shenzhen Huaqiang Industry Co 000062 ¥22.37 ¥7.52 -66%
Synnex Technology International Corporation 2347 85.30 TWD 86.30 TWD +1%
Nanjing Sunlord Electronics Corporation 300975 ¥37.37 ¥8.60 -77%
Beijing Tricolor Technology Co 603516 ¥106.52 ¥23.39 -78%

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Frequently asked questions

Is Zungwon En-Sys Inc (045510) overvalued or undervalued?
As of Jul 22, 2026, our model estimates a fair value of 714.62 KRW versus a price of 1,032 KRW, about −31% (overvalued).
What is the fair value of 045510?
Our model-based fair value for Zungwon En-Sys Inc is 714.62 KRW (as of Jul 22, 2026), built from audited fundamentals. The current price is 1,032 KRW.
What is the quality score of 045510?
Zungwon En-Sys Inc has a Quality Score of 65/100. 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 Zungwon En-Sys Inc (045510)?
Zungwon En-Sys Inc reported trailing-twelve-month revenue of about 236B KRW (latest available figure, as of Jul 22, 2026).
What is the net profit margin of 045510?
The net profit margin of Zungwon En-Sys Inc is about 0.8%, meaning it keeps roughly 0.8% 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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