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Kishin Corporation (092440) Fair Value & Analysis

Industrials · KR · Market cap 54.9B KRW

KC Kishin Corporation 092440 · KO
Price1,875 KRW
Fair Value1,476 KRW
Upside-21.3%
Quality56/100
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Weak Growth
Loss-making · -0.7% net margin
Low debt · generates free cash flow
3.19% dividend yield
Mixed vs. peers (5/10)
Narrow moat 21/100
Evidence: Medium Range 1,345 KRW – 1,606 KRW Share as image

Fair value as of: Jul 24, 2026

From 11 valuation models · updated 17 days ago

Fair value updated Jul 24, 2026, revised from 1,813 KRW to 1,476 KRW (−18.6%) since Jul 6, 2026. Share price −3.5% over the past month.

A solid business, but screening 21% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (1,606 KRW). The favourable scenario is already priced in.
  • Solid but not exceptional quality (56/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

5,174 KRW 1,815 KRW Fair Value 1,476 KRW Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 24, 2026.

How to read this chart

60‑month range 1,815 KRW – 5,174 KRW · fair‑value band 1,345 KRW – 1,606 KRW · the 1,875 KRW price screens above the 1,476 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 24, 2026.

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Analysis

Kishin Corporation (092440) currently trades at 1,875 KRW, while our model-based Fair Value estimate is 1,476 KRW, implying the stock looks roughly 21.3% overvalued today. The Quality Score stands at 56/100 (solid 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: medium).

Over the trailing twelve months, Kishin Corporation generated revenue of 121B KRW at a net margin of -0.4%. Revenue declined 3.8% year over year. It earns a return on equity of -0.2%. The balance sheet holds a net cash position of 13.9B KRW. Fundamentals as of Jul 24, 2026

Our scenario range runs from 1,345 KRW (bear case) to 1,606 KRW (bull case); at 1,875 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 33% below its 52-week high and 2% 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 -21%, 092440 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 3,972 KRW 5,004 KRW 6,902 KRW 80
Rev-Margin DCF 3,543 KRW 4,768 KRW 6,332 KRW 74
EV/EBITDA 1,024 KRW 1,089 KRW 1,155 KRW 54
All 11 models by family
DCF Models
FCF DCF 3,851 KRW 4,902 KRW 7,020 KRW 38
Owner Earnings 1,616 KRW 1,890 KRW 2,443 KRW 31
5Y Revenue Exit 3,543 KRW 4,703 KRW 6,451 KRW 39
5Y EBITDA Exit 2,072 KRW 2,210 KRW 2,413 KRW 41
10Y Revenue Exit 3,562 KRW 4,592 KRW 5,757 KRW 36
10Y EBITDA Exit 2,734 KRW 2,948 KRW 3,142 KRW 37
Multiples
EV/EBITDA 1,024 KRW 1,089 KRW 1,155 KRW 54
EV/Revenue 3,563 KRW 4,736 KRW 5,908 KRW 43
Asset-Based
NCAV (Graham) 4,221 KRW 5,657 KRW 8,443 KRW 50
Growth DCF
Growth DCF 3,972 KRW 5,004 KRW 6,902 KRW 80
Rev-Margin DCF 3,543 KRW 4,768 KRW 6,332 KRW 74

Widest divergence: Asset-Based (5,657 KRW) versus Multiples (1,089 KRW). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 121B KRW
Revenue growth (YoY) -3.8%
Net margin -0.4%
Return on equity -0.2%
Free cash flow 8.8B KRW FY2026
Operating margin -0.5%
More key figures
Dividend yield 3.1%
EPS growth (YoY) -73.0%
Net cash 13.9B KRW FY2022

Figures from reported company fundamentals · as of Jul 24, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 56/100

Of which business quality 57 · Market factors (momentum, volatility) 34

Profitability 15
Margins and returns on capital today
Quality Growth 22
Are margins and returns improving?
Cashflow 56
Earnings quality: real cash, not paper profit
Fin. Strength 83
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 92
Calm price path (market factor)
Momentum 13
Price trend over the last 3–12 months (market factor)
52W Momentum 3
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

Kishin Corporation, together with its subsidiaries, provides mold bases, parts, die sets, and material in South Korea and internationally. It offers mold bases for plastic injection, as well as parts; press die sets and inner plates; precision plates; and plastic mold steel products.

Full company description

Kishin Corporation, together with its subsidiaries, provides mold bases, parts, die sets, and material in South Korea and internationally. It offers mold bases for plastic injection, as well as parts; press die sets and inner plates; precision plates; and plastic mold steel products. The company was founded in 1975 and is headquartered in Incheon, South Korea. Kishin Corporation is a subsidiary of Futaba Corporation.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Kishin Corporation reported revenue of 119B KRW in FY2026 versus 131B KRW in FY2022, a compound −2.4%/yr. Reported net income was −775M KRW in FY2026.

Growth Quality 19/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2026)
119B KRW
Latest YoY
−9.2%
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.
−6.2%
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.
−1.5%
Avg. growth/yr (19Y) 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%
Revenue −2.4%/yr
FY22 131B KRW
FY23 144B KRW
FY24 138B KRW
FY25 131B KRW
FY26 119B KRW
Net income
FY22 8.5B KRW
FY23 4.4B KRW
FY24 1.7B KRW
FY25 3.1B KRW
FY26 −775M KRW
Character of growth · EPS growth decomposed (2011-2022) −6.4 % p.a.
Revenue per share +2.4 pp

of which total revenue +2.4 pp · buybacks/dilution +0.0 pp

EBIT margin −8.5 pp
Tax rate +0.8 pp
Residual (interest, one-offs) −1.0 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

092440 screens 21% overvalued. Compare with Carpenter Technology Corporation →

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Cite: Fair Value Calculator (2026). "Kishin Corporation Fair Value". https://www.fairvalue-calculator.com/stock/092440

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 56 · Above median
Fair Value upside −21% · Above median
Return on assets -1% · Bottom 25%
Net margin (TTM) -1% · Bottom 25%
Operating margin (TTM) -5% · Bottom 25%
Revenue growth -7% · Bottom 25%
Dividend yield (TTM) 3.2% · Top 25%
Debt / equity 0.00× · Lower than 75% of peers

Valuation Multiples vs Metal Fabrication 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 5 · sector 0
FUTURE 0 · sector 36
PAST 0 · sector 21
HEALTH 100 · sector 95
DIVIDEND 64 · 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.

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Frequently asked questions

Is Kishin Corporation (092440) overvalued or undervalued?
As of Jul 24, 2026, our model estimates a fair value of 1,476 KRW versus a price of 1,875 KRW, about −21% (overvalued).
What is the fair value of 092440?
Our model-based fair value for Kishin Corporation is 1,476 KRW (as of Jul 24, 2026), built from audited fundamentals. The current price is 1,875 KRW.
What is the quality score of 092440?
Kishin Corporation has a Quality Score of 56/100. 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 Kishin Corporation (092440)?
Kishin Corporation reported trailing-twelve-month revenue of about 121B KRW (latest available figure, as of Jul 24, 2026).
What is the net profit margin of 092440?
The net profit margin of Kishin Corporation is about -0.4%, meaning it is currently running at a net loss. Based on the latest reported figures.
Does Kishin Corporation pay a dividend?
Kishin Corporation currently shows a dividend yield of about 3.06% relative to its recent price (as of Jul 24, 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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