EXA E&C Inc (054940) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of EXA E&C Inc KRW 830, price KRW 3,665, upside -77.4%, quality 49 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range 2,875 KRW – 12,550 KRW · fair‑value band 782.56 KRW – 870.08 KRW · the 3,665 KRW price screens above the 829.93 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 4 fiscal years are left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 24, 2026.
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EXA E&C Inc. manufactures and sells specialized construction and electronic components in South Korea.
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EXA E&C Inc. manufactures and sells specialized construction and electronic components in South Korea. The company offers clean room products comprising industrial and bio clean rooms; interior finishing of walls, floors, ceilings, and stairs according to the module, light weight, and earthquake-resistant structure of the building; interior design services; and partition products. It also engages in the manufacture of crystal units and oscillators, TCXO and VCXO products, monitor crystal, and IC products for use in the communication industry. The company was formerly known as Yaelim International Corp. and changed its name to EXA E&C Inc. in October 2004. EXA E&C Inc. was founded in 1988 and is headquartered in Seoul, South Korea.
Stock analysis
EXA E&C Inc (054940) currently trades at 3,665 KRW, while our model-based Fair Value estimate is 829.93 KRW, implying the stock looks roughly 341.7% overvalued today.
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Valuation
Bull case: the Asset-Based group reads highest at a median of 1,392 KRW per share, and 0 of the 20 models we run sit above the 3,665 KRW price.
Bear case: the Earnings-Based group reads lowest at 158.38 KRW, and 20 of the 20 models stay below the price. Evidence for this calculation is low.
Scenario range: 782.56 KRW (bear) to 870.08 KRW (bull), the price of 3,665 KRW sits above 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 49/100 (below-average quality), in the Industrials sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
EXA E&C Inc reported revenue of 177B KRW in FY2025 versus 221B KRW in FY2021, a compound −5.4%/yr. Reported net income was 632M KRW in FY2025.
Key figures
Market cap 26.1B KRW (≈ $19.2M) · P/S ratio 0.10 · Net margin 0.4% · Return on equity 757% · Return on assets (EBIT) 2.4% · Operating margin 7.3% · Revenue (TTM) 257B KRW · Revenue growth (YoY) +9.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (low confidence).
What moves the price
The share trades about 15% below its 52-week high and 27% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at 69% fair-value upside, at −77%, 054940 screens richer than that median.
Fair Value models
Bear 782.56 KRWFair Value 829.93 KRWBull 870.08 KRW
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single 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 ⓘEvidence = 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.38/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−12.8%
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.
−7.9%
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.
−5.5%
Start year 2020 (pandemic). Over 10 years: +1.5% a year
Revenue growth 20 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.
+3.1%
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What shareholders gained per year (last 3 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 3 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.
−56.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year−56.2%
Dividend (yield on the price)0.0%
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% → 1%
⚠ Revenue per share shrinking 3.3%/yr over ~7Y (margins intact) ⓘ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
A lot of optimism in the price
The price assumes more growth than 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).
+59.8%
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 +56.5% 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.Professional & Commercial Services · 15 stocks
Beats the industry median on 3/7 measures
A mixed picture versus its industry peers.
Valuation
Quality Score49 · Below median
Fair Value upside−77% · Bottom 25%
Profitability
Return on assets7% · Top 25%
Net margin (TTM)7% · Below median
Operating margin (TTM)7% · Above median
Growth and dividend
Revenue growth10% · Above median
Balance sheet
Debt / equity0.14× · Highest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 98
FUTURE (revenue growth)48· sector 41
PAST (return on equity)0· sector 0
HEALTH (low debt)93· sector 100
DIVIDEND (yield)0· sector 47
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is EXA E&C Inc (054940) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 829.93 KRW versus a price of 3,665 KRW, about −77% upside (overvalued).
What is the fair value of 054940?
Our model-based fair value for EXA E&C Inc is 829.93 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 3,665 KRW.
What is the quality score of 054940?
EXA E&C Inc 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 price target for EXA E&C Inc (054940)?
Our model-based price target is the fair value of 829.93 KRW (as of Sep 24, 2026) from 20 valuation models. Cautious scenario 782.56 KRW, optimistic scenario 870.08 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the EXA E&C Inc stock forecast for 2026?
Our models put fair value at 829.93 KRW, about −77% upside versus a price of 3,665 KRW (overvalued). Cautious scenario 782.56 KRW, optimistic scenario 870.08 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of EXA E&C Inc (054940)?
EXA E&C Inc reported trailing-twelve-month revenue of about 257B KRW (latest available figure, as of Sep 24, 2026).
What growth is priced into EXA E&C Inc (054940)?
For today's price to be fair in a discounted-cash-flow model, EXA E&C Inc would have to grow free cash flow by +59.8 % per year for five years (discount rate 10.2 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -5.5 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 054940 use?
Our models discount EXA E&C Inc at 10.2 %: a base by market capitalisation (nano), damped by beta 1.03, 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 EXA E&C Inc that is +59.8 % per year a year over ten years, using the same discount rate (10.2 %) and the same formula as our fair value.
How much growth has EXA E&C Inc (054940) delivered so far?
Over the past 5 years revenue at EXA E&C Inc grew -5.5 % a year. The price currently implies +59.8 % per year free-cash-flow growth a 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 EXA E&C Inc (054940) growing?
The median revenue growth in the sector is +4.6 % a year. That is the yardstick for the growth priced into EXA E&C Inc (+59.8 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of EXA E&C Inc (054940)?
The free-cash-flow yield on the price is 0.49 %: that much free cash flow EXA E&C Inc produces per unit of market value. When it exceeds the discount rate of our models (10.2 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of EXA E&C Inc (054940)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For EXA E&C Inc it is 829.93 KRW per share (as of Sep 24, 2026), against a price of 3,665 KRW. It is the blended result of 20 valuation models (cash flow, earnings, asset, dividend).
Is EXA E&C Inc stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 054940 trades above its calculated fair value: price 3,665 KRW, fair value 829.93 KRW, a gap of about −77% (overvalued). 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 054940?
No. The price is what the market pays today (3,665 KRW); the fair value is what the company's own numbers justify (829.93 KRW). For EXA E&C Inc the two are 2,835 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is EXA E&C Inc worth?
The market values EXA E&C Inc at about 26.1B KRW (market capitalisation, as of Sep 24, 2026). Per share that is 3,665 KRW; our models calculate a fair value of 829.93 KRW per share.
What do the bullish and bearish scenarios say about 054940?
Our models span a range for EXA E&C Inc: cautious scenario 782.56 KRW, base 829.93 KRW, optimistic 870.08 KRW per share (as of Sep 24, 2026, price 3,665 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of EXA E&C Inc (054940)?
Balance-sheet figures for EXA E&C Inc (as of Sep 24, 2026): debt of 0.14 per unit of equity. They feed the Quality Score of 49/100, which measures business quality independently of the share price.
How far is 054940 from its 52-week high?
EXA E&C Inc trades at 3,665 KRW, about 15% below its 52-week high of 4,335 KRW and 27% above the low of 2,875 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 829.93 KRW is for.
Which stocks are comparable to EXA E&C Inc?
From the same area (Industrials) we also value Fischer Chemic Limited, e-Credible Co, KG Mobilians Co, INSUN Environmental New Technology Co, 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 EXA E&C Inc stock attractive at the current price?
The data as of Sep 24, 2026: price 3,665 KRW, calculated fair value 829.93 KRW (−77%), Quality Score 49/100, from 20 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 054940 calculated?
We run EXA E&C Inc through 20 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 829.93 KRW, 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 13.0 % above its aggregate fair value. EXA E&C Inc itself currently trades above fair value. 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 EXA E&C Inc (054940)?
The closing price on Sep 23, 2026 was 3,665 KRW. Our model-based fair value is 829.93 KRW, about −77% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with EXA E&C Inc right now?
The price sits above even our optimistic bull case (870.08 KRW). The favourable scenario is already priced in. 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 but not exceptional quality (49/100) and above fair value, neither a clear bargain nor a standout compounder. The models converge in a tight band (782.56 KRW to 870.08 KRW), unusually little disagreement for a valuation.
Key figures of EXA E&C Inc
How large is the market capitalisation of EXA E&C Inc (054940)?
The market capitalisation of EXA E&C Inc is 26.1B KRW (≈ $19.2M). 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 EXA E&C Inc (054940)?
The price-to-sales ratio of EXA E&C Inc is 0.10 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the net margin of EXA E&C Inc (054940)?
The net margin of EXA E&C Inc is 0.4% (fiscal year 2025). 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 EXA E&C Inc (054940)?
The return on equity (ROE) of EXA E&C Inc is 757% (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 EXA E&C Inc (054940)?
On an EBIT basis the return on assets of EXA E&C Inc is 2.4% (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 EXA E&C Inc (054940)?
The operating margin of EXA E&C Inc is 7.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at EXA E&C Inc (054940)?
Revenue at EXA E&C Inc is growing +9.5% versus a year earlier (3y avg −7.9%). 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 EXA E&C Inc (054940)?
Earnings per share at EXA E&C Inc are growing +545% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does EXA E&C Inc (054940) carry?
The net debt of EXA E&C Inc is 3.5B KRW (fiscal year 2025, ≈ 5.8 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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