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TAEYANG Corporation (053620) Fair Value & Analysis

Basic Materials · KR · Market cap 51.7B KRW

TC TAEYANG Corporation 053620 · KQ
Price6,610 KRW
Fair Value13,533 KRW
Upside+104.7%
Quality61/100
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Weak Growth
Solidly profitable · 12.7% net margin
Low debt · generates free cash flow
6.21% dividend yield
Ranks above peers (7/10)
Narrow moat 43/100
Evidence: High Range 9,618 KRW – 16,499 KRW Share as image

Fair value as of: Jul 22, 2026

From 22 valuation models · updated 19 days ago

Fair value updated Jul 22, 2026, revised from 18,311 KRW to 13,533 KRW (−26.1%) since Jun 25, 2026. Share price −0.5% over the past month.

A solid business, screening 105% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (9,618 KRW). The market is more pessimistic than our downside scenario.
  • Solid quality (61/100) 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)

10,264 KRW 5,528 KRW Fair Value 13,533 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 5,528 KRW – 10,264 KRW · fair‑value band 9,618 KRW – 16,499 KRW · the 6,610 KRW price screens below the 13,533 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

TAEYANG Corporation (053620) currently trades at 6,610 KRW, while our model-based Fair Value estimate is 13,533 KRW, implying the stock looks roughly 104.7% undervalued today. The Quality Score stands at 61/100 (solid quality), in the Basic Materials 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, TAEYANG Corporation generated revenue of 142B KRW at a net margin of 12.7%. Revenue grew 3.4% year over year. It earns a return on equity of 9.4%. Fundamentals as of Jul 22, 2026

Our scenario range runs from 9,618 KRW (bear case) to 16,499 KRW (bull case); at 6,610 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 12% below its 52-week high and 15% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -58% fair-value upside, at 105%, 053620 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 11,556 KRW 15,402 KRW 21,982 KRW 80
Residual Income 19,291 KRW 19,938 KRW 20,331 KRW 76
Rev-Margin DCF 6,422 KRW 8,054 KRW 10,172 KRW 74
All 22 models by family
DCF Models
FCF DCF 11,086 KRW 15,049 KRW 22,389 KRW 38
Owner Earnings 21,916 KRW 30,131 KRW 45,347 KRW 31
5Y Revenue Exit 6,422 KRW 7,818 KRW 9,824 KRW 39
5Y EBITDA Exit 7,585 KRW 9,831 KRW 12,809 KRW 41
5Y P/E Exit 13,104 KRW 19,386 KRW 26,886 KRW 38
10Y Revenue Exit 8,104 KRW 9,309 KRW 10,496 KRW 36
10Y EBITDA Exit 8,882 KRW 10,554 KRW 12,249 KRW 37
10Y P/E Exit 12,232 KRW 16,463 KRW 20,513 KRW 35
Earnings-Based
Graham-Dodd 10,124 KRW 12,373 KRW 13,920 KRW 54
EPV 2,424 KRW 2,663 KRW 2,871 KRW 59
Multiples
P/E Multiple 15,632 KRW 20,843 KRW 26,053 KRW 63
P/S Multiple 15,867 KRW 21,156 KRW 26,445 KRW 58
P/B Multiple 18,982 KRW 25,309 KRW 31,636 KRW 55
EV/EBIT 3,247 KRW 3,999 KRW 4,750 KRW 53
EV/EBITDA 6,134 KRW 7,848 KRW 9,561 KRW 54
EV/Revenue 3,728 KRW 4,900 KRW 6,073 KRW 43
Asset-Based
NCAV (Graham) 12,199 KRW 16,346 KRW 24,397 KRW 50
Growth DCF
Growth DCF 11,556 KRW 15,402 KRW 21,982 KRW 80
Rev-Margin DCF 6,422 KRW 8,054 KRW 10,172 KRW 74
Economic Profit
Residual Income 19,291 KRW 19,938 KRW 20,331 KRW 76
ROIC Compounder 2,424 KRW 2,663 KRW 2,871 KRW 72
Growth Earnings
Growth-Adj P/E 11,247 KRW 16,067 KRW 20,887 KRW 68

Widest divergence: Asset-Based (16,346 KRW) versus Earnings-Based (2,663 KRW). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 142B KRW
Revenue growth (YoY) +3.4%
Net margin 12.7%
Return on equity 9.4%
Free cash flow 8.3B KRW FY2025
Operating margin 6.8%
More key figures
Dividend yield 6.2%
EPS growth (YoY) +253%

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

Quality Score breakdown

Overall quality 61/100

Of which business quality 59 · Market factors (momentum, volatility) 55

Profitability 35
Margins and returns on capital today
Quality Growth 36
Are margins and returns improving?
Cashflow 44
Earnings quality: real cash, not paper profit
Fin. Strength 82
Balance sheet, leverage, solvency risk
Investment 91
Disciplined investing over empire-building
Low Volatility 95
Calm price path (market factor)
Momentum 38
Price trend over the last 3–12 months (market factor)
52W Momentum 41
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

TAEYANG Corporation provides portable butane gas cartridges, stoves, and gas filling and aerosol products in South Korea.

Full company description

TAEYANG Corporation provides portable butane gas cartridges, stoves, and gas filling and aerosol products in South Korea. It offers portable fuel products, including portable butane gas, portable lighter gas refills, portable camping gas, portable fuel, sun fuel gas stoves, and mini sun fuel gas cartridges; LPG and pure butane gas under the ALPS name for use in mountain climbing; and lighter gas, lighter oil, and portable gas products. The company also provides cosmetics, such as hair mousse, hair sprays, skin lotions, shaving foams, deodorants, etc.; medical supplies comprising insecticides and insect repellents; air fresheners and iron glue; and industrial supplies consisting of adhesives, polyurethane, carburetor, printer cleaner, rust, frost removers, etc. In addition, it offers household items, including zipper bags, vinyl gloves, roll bags, and paper cups. The company was formerly known as Taeyang Industrial Co., Ltd. and changed its name to TAEYANG Corporation in September 2012. TAEYANG Corporation was founded in 1989 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

TAEYANG Corporation reported revenue of 140B KRW in FY2025 versus 150B KRW in FY2021, a compound −1.7%/yr. Reported net income was 11.9B KRW in FY2025, compounding +25.3%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
140B KRW
Latest YoY
−7.8%
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.
−7.0%
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.
−0.2%
Avg. growth/yr (14Y) 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.
−1.3%
Revenue −1.7%/yr
FY21 150B KRW
FY22 174B KRW
FY23 157B KRW
FY24 152B KRW
FY25 140B KRW
Net income +25.3%/yr
FY21 4.8B KRW
FY22 6.6B KRW
FY23 7.3B KRW
FY24 8.3B KRW
FY25 11.9B KRW

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Cite: Fair Value Calculator (2026). "TAEYANG Corporation Fair Value". https://www.fairvalue-calculator.com/stock/053620

Peer Group

Specialty Chemicals · 673 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 61 · Top 25%
Fair Value upside +105% · Top 25%
Return on equity (TTM) 9% · Above median
Return on assets 1% · Below median
Net margin (TTM) 13% · Top 25%
Operating margin (TTM) 7% · Below median
Revenue growth 3% · Below median
Dividend yield (TTM) 6.2% · Top 25%

Valuation Multiples vs Specialty Chemicals 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 0
FUTURE 17 · sector 19
PAST 38 · sector 23
HEALTH 100 · sector 95
DIVIDEND 100 · sector 25

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 Specialty Chemicals stocks, each showing price versus our Fair Value estimate (as of Jul 22, 2026).

Stock Price Fair Value vs Fair Value
Linde plc LIN $489.98 $222.03 -55%
Nan Ya Plastics Corporation 1303 181.50 TWD 255.83 TWD +41%
Wanhua Chemical Group 600309 ¥70.04 ¥68.03 -3%
Novozymes A/S NSISB kr 428.20 kr 179.66 -58%
Asian Paints Limited ASIANPAINT ₹2,689 ₹668.81 -75%
Solar Industries India Limited SOLARINDS ₹18,236 ₹2,793 -85%
Pidilite Industries Limited PIDILITIND ₹1,560 ₹351.84 -77%
PT Chandra Asri Pacific Tbk TPIA 1,805 IDR 2,888 IDR +60%
Linde India Limited LINDEINDIA ₹7,115 ₹757.93 -89%
Berger Paints India Limited BERGEPAINT ₹493.70 ₹164.29 -67%

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Frequently asked questions

Is TAEYANG Corporation (053620) overvalued or undervalued?
As of Jul 22, 2026, our model estimates a fair value of 13,533 KRW versus a price of 6,610 KRW, about +105% (undervalued).
What is the fair value of 053620?
Our model-based fair value for TAEYANG Corporation is 13,533 KRW (as of Jul 22, 2026), built from audited fundamentals. The current price is 6,610 KRW.
What is the quality score of 053620?
TAEYANG Corporation has a Quality Score of 61/100. 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 TAEYANG Corporation (053620)?
TAEYANG Corporation reported trailing-twelve-month revenue of about 142B KRW (latest available figure, as of Jul 22, 2026).
What is the net profit margin of 053620?
The net profit margin of TAEYANG Corporation is about 12.7%, meaning it keeps roughly 12.7% of revenue as net income. Based on the latest reported figures.
Does TAEYANG Corporation pay a dividend?
TAEYANG Corporation currently shows a dividend yield of about 5.90% 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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