Union Materials Corp (047400) fair value: what the stock is really worth
As of Oct 26, 2026: fair value (intrinsic value) of Union Materials Corp stock KRW 1,004, price KRW 746, upside +34.6%, quality 57 out of 100. Rating: undervalued. Calculated from audited financials with 22 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 3, 2026.
How to read this chart
60‑month range 677.00 KRW – 6,720 KRW · fair‑value band 966.41 KRW – 1,265 KRW · the 746.00 KRW price screens below the 1,004 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 3, 2026.
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Union Materials Corp., together with its subsidiaries, manufactures and sells ferrite magnets for motors in South Korea and internationally. The company operates through Ceramic and Ferrite segments.
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It offers fine ceramics products, such as alumina, silicon nitride, zirconia, and silicon carbide materials; cermet, ceramics, PCBN/PCD cutting tools, tool holders, milling cutters, endmills and drills, and hydraulic expansion chucks; and industrial ceramics, such as faucet discs, ferrule for fiber optics, metalized parts, bio-ceramics, and other related products.
The company also provides ferrite magnets, such as ARC type for D/C motor applications and rectangular (block) type for industrial applications. It serves automobile, electrical and electronic engineering, and machinery industries.
The company was formerly known as Ssangyong Materials Corp. and changed its name to Union Materials Corp. in September 2017. Union Materials Corp. is headquartered in Daegu, South Korea.
Stock analysis
Union Materials Corp (047400) currently trades at 746.00 KRW, while our model-based Fair Value estimate is 1,004 KRW, implying the stock looks roughly 26% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of 3,063 KRW per share, and 16 of the 21 models we run sit above the 746.00 KRW price.
Bear case: the Asset-Based group reads lowest at 292.73 KRW, and 5 of the 21 models stay below the price. Data coverage for this calculation is low.
Scenario range: 966.41 KRW (bear) to 1,265 KRW (bull), the price of 746.00 KRW sits below 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 57/100 (solid quality), in the Industrials sector.
Weak Growth: Revenue growth is weak: less than 2 % a year.
Union Materials Corp reported revenue of 102B KRW in FY2025 versus 118B KRW in FY2021, a compound −3.6%/yr. Reported net income was 2.5B KRW in FY2025, compounding +45.9%/yr from FY2021.
Key figures
Market cap 31.3B KRW (≈ $23.2M) Micro · P/E ratio 6.2 · P/S ratio 0.32 · EPS (TTM) 119.66 KRW · Net margin 5.1% · Return on equity 29.9% · Return on assets (EBIT) −2.1% (5-year average) · Operating margin 2.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 39 out of 100 (medium confidence).
What moves the price
The share trades about 62% below its 52-week high and 10% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −20% fair-value upside, at 35%, 047400 screens cheaper than that median.
Fair Value models
Bear966.41 KRWFair Value 1,004 KRWBull1,265 KRW
Price 746.00 KRW · Upside +34.6%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (102.61 KRW per share) are deliberately not added.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = 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.40/100
Revenue growth is weak: less than 2 % a year.
Revenue growth 1 year
−5.9%
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.
−6.9%
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.
+1.7%
Start year 2020 (pandemic). Over 10 years: −0.4% a year
Revenue growth 14 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.
+1.0%
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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.
+11.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+11.4%
Dividend (yield on the price)0.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.11.4% vs −9.5%, picking up
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.0% → 5%
Pace: the 5-year rate starts in 2020 (pandemic)
⚠ Revenue per share shrinking 1.1%/yr over ~7Y (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
Price in line with expectations
The price assumes about as much growth as the company has delivered so far.
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).
+0.8%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (South Korea: IMF forecast 2.1% a year to 2030, 2.1% from 2016 to 2025) that is about −1.3% a year for the price.
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.Tools & Accessories · 128 stocks
Beats the industry median on 7/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score57 · Below median
Fair Value upside+34.6% · Top 25%
Profitability
Return on equity (12 months)29.9% · Top 25%
Return on assets1.8% · Below median
Net margin (12 months)5.1% · Below median
Operating margin (12 months)2.7% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)1.4% · Below median
Balance sheet
Debt / equity0.31× · Highest 25%
Valuation Multiplesvs Tools & Accessories median · lower = cheaper
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Is Union Materials Corp (047400) overvalued or undervalued?
As of Nov 3, 2026, our model estimates a fair value of 1,004 KRW versus the last price from Oct 26, 2026 of 746.00 KRW, about +35% upside (undervalued).
What is the fair value of 047400?
Our model-based fair value for Union Materials Corp is 1,004 KRW (as of Nov 3, 2026), built from audited fundamentals. Last price (from Oct 26, 2026): 746.00 KRW.
What is the quality score of 047400?
Union Materials Corp has a Quality Score of 57/100. 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 Union Materials Corp (047400)?
Our model-based price target is the fair value of 1,004 KRW (as of Nov 3, 2026) from 22 valuation models. Cautious scenario 966.41 KRW, optimistic scenario 1,265 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Union Materials Corp stock forecast for 2026?
Our models put fair value at 1,004 KRW, about +35% upside versus the last price from Oct 26, 2026 of 746.00 KRW (undervalued). Cautious scenario 966.41 KRW, optimistic scenario 1,265 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Union Materials Corp (047400)?
Union Materials Corp reported trailing-twelve-month revenue of about 99.6B KRW (latest available figure, as of Nov 3, 2026).
What growth is priced into Union Materials Corp (047400)?
For today's price to be fair in a discounted-cash-flow model, Union Materials Corp would have to grow free cash flow by +0.8 % per year for five years (discount rate 8.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +1.7 % per year. As of Nov 3, 2026.
What discount rate (WACC) does the fair value of 047400 use?
Our models discount Union Materials Corp at 8.9 %: a base by market capitalisation (nano), damped by beta 0.25, 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 Union Materials Corp that is +0.8 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (8.9 %) and the same formula as our fair value.
How much growth has Union Materials Corp (047400) delivered so far?
Over the past 5 years revenue at Union Materials Corp grew +1.7 % a year. The price currently implies free-cash-flow growth of +0.8 % per 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 Union Materials Corp (047400) growing?
The median revenue growth in the sector is +4.7 % a year. That is the yardstick for the growth priced into Union Materials Corp (+0.8 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Union Materials Corp (047400)?
The free-cash-flow yield on the price is 27.65 %: that much free cash flow Union Materials Corp produces per unit of market value. When it exceeds the discount rate of our models (8.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Union Materials Corp (047400)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Union Materials Corp it is 1,004 KRW per share (as of Nov 3, 2026), against a price of 746.00 KRW. It is the blended result of 22 valuation models in 7 families (DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Union Materials Corp stock overvalued or undervalued in 2026?
As of Nov 3, 2026, 047400 trades below its calculated fair value: price 746.00 KRW, fair value 1,004 KRW, a gap of about +35% (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 047400?
No. The price is what the market pays today (746.00 KRW); the fair value is what the company's own numbers justify (1,004 KRW). For Union Materials Corp the two are 258.31 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Union Materials Corp worth?
The market values Union Materials Corp at about 31.3B KRW (market capitalisation, as of Nov 3, 2026). Per share that is 746.00 KRW; our models calculate a fair value of 1,004 KRW per share.
What do the bullish and bearish scenarios say about 047400?
Our models span a range for Union Materials Corp: cautious scenario 966.41 KRW, base 1,004 KRW, optimistic 1,265 KRW per share (as of Nov 3, 2026, price 746.00 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 047400?
Union Materials Corp trades at a price-to-earnings ratio of 6.2 (as of Nov 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 1,004 KRW is built from several models across several years. Other multiples: P/B 1.6, P/S 0.3, EV/EBITDA 4.6.
How solid is the balance sheet of Union Materials Corp (047400)?
Balance-sheet figures for Union Materials Corp (as of Nov 3, 2026): return on equity 29.9%, debt of 0.31 per unit of equity. They feed the Quality Score of 57/100, which measures business quality independently of the share price.
How far is 047400 from its 52-week high?
Union Materials Corp trades at 746.00 KRW, about 62% below its 52-week high of 1,965 KRW and 10% above the low of 677.00 KRW (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of 1,004 KRW is for.
Which stocks are comparable to Union Materials Corp?
From the same area (Industrials) we also value Techtronic Industries Company, Snap-on Incorporated, Stanley Black & Decker, Inc, Lincoln Electric Holdings, 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 Union Materials Corp stock attractive at the current price?
The data as of Nov 3, 2026: price 746.00 KRW, calculated fair value 1,004 KRW (+35%), Quality Score 57/100, from 22 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 047400 calculated?
We run Union Materials Corp through 22 models from 7 families: DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 1,004 KRW builds on their evidence-weighted average, 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 13.3% above its aggregate fair value. Union Materials Corp currently trades 26% 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 Union Materials Corp (047400)?
The latest price we hold is from Oct 26, 2026 and stands at 746.00 KRW. Our model-based fair value is 1,004 KRW, about +35% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Union Materials Corp right now?
The price is below even our cautious bear case (966.41 KRW). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (57/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of Union Materials Corp
How large is the market capitalisation of Union Materials Corp (047400)?
The market capitalisation of Union Materials Corp is 31.3B KRW (≈ $23.2M). 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 Union Materials Corp (047400)?
The price-to-sales ratio of Union Materials Corp is 0.32 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Union Materials Corp (047400)?
Earnings per share at Union Materials Corp are 119.66 KRW (price ÷ EPS = P/E 6.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Union Materials Corp (047400)?
The net margin of Union Materials Corp is 5.1% (last twelve months). 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 Union Materials Corp (047400)?
The return on equity (ROE) of Union Materials Corp is 29.9% (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 Union Materials Corp (047400)?
On an EBIT basis the return on assets of Union Materials Corp is −2.1% (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 Union Materials Corp (047400)?
The operating margin of Union Materials Corp is 2.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Union Materials Corp (047400)?
Revenue at Union Materials Corp is growing +1.4% versus a year earlier (3y avg −6.9%). 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 Union Materials Corp (047400)?
Earnings per share at Union Materials Corp are growing +37.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Union Materials Corp (047400) carry?
The net debt of Union Materials Corp is 88.5B KRW (fiscal year 2025, ≈ 10.2 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Thin data
Nov 3, 2026