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HJ Shipbuilding & Construction Co (097230) Fair Value & Analysis

Industrials · KR · Market cap 1.4T KRW

HS HJ Shipbuilding & Construction Co 097230 · KO
Price16,700 KRW
Fair Value9,051 KRW
Upside-45.8%
Quality36/100
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Expensive Growth
Thin margins · 3.4% net margin
Low debt · negative free cash flow
Mixed vs. peers (4/8)
Narrow moat 36/100
Evidence: High Range 6,336 KRW – 11,766 KRW Share as image

Fair value as of: Jul 22, 2026

From 15 valuation models · updated 19 days ago

Share price −1.2% over the past month.

Below-average quality, and screening another 46% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (11,766 KRW). The favourable scenario is already priced in.
  • Weak quality (36/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • A fairly wide model range (6,336 KRW to 11,766 KRW) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

33,350 KRW 2,205 KRW Fair Value 9,051 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 2,205 KRW – 33,350 KRW · fair‑value band 6,336 KRW – 11,766 KRW · the 16,700 KRW price screens above the 9,051 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

HJ Shipbuilding & Construction Co (097230) currently trades at 16,700 KRW, while our model-based Fair Value estimate is 9,051 KRW, implying the stock looks roughly 45.8% overvalued today. The Quality Score stands at 36/100 (below-average 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: high).

Over the trailing twelve months, HJ Shipbuilding & Construction Co generated revenue of 2.1T KRW at a net margin of 3.4%. Revenue grew 32.0% year over year. It earns a return on equity of 13.7%. Net debt stands at 70.0B KRW. Fundamentals as of Jul 22, 2026

Our scenario range runs from 6,336 KRW (bear case) to 11,766 KRW (bull case); at 16,700 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 51% below its 52-week high and 140% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -45% fair-value upside, at -46%, 097230 screens richer 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 BearBaseBull Evidence
Highest evidence
Residual Income 6,214 KRW 6,662 KRW 7,760 KRW 76
ROIC Compounder 10,117 KRW 11,678 KRW 13,341 KRW 72
Gordon GGM 1,273 KRW 1,400 KRW 1,595 KRW 70
All 15 models by family
DCF Models
Owner Earnings 10,974 KRW 14,269 KRW 20,612 KRW 31
Earnings-Based
Graham-Dodd 3,874 KRW 4,734 KRW 5,326 KRW 54
EPV 10,117 KRW 11,339 KRW 12,425 KRW 59
Dividend Discount
Gordon GGM 1,273 KRW 1,400 KRW 1,595 KRW 70
DDM Multi-Stage 1,273 KRW 1,624 KRW 2,133 KRW 61
Multiples
P/E Multiple 8,972 KRW 11,963 KRW 14,954 KRW 63
P/S Multiple 7,263 KRW 9,684 KRW 12,105 KRW 58
P/B Multiple 7,263 KRW 9,684 KRW 12,105 KRW 55
EV/EBIT 13,002 KRW 16,271 KRW 19,540 KRW 53
EV/EBITDA 13,791 KRW 17,323 KRW 20,856 KRW 54
EV/Revenue 10,194 KRW 13,194 KRW 16,194 KRW 43
Asset-Based
NCAV (Graham) 3,708 KRW 4,969 KRW 7,416 KRW 50
Economic Profit
Residual Income 6,214 KRW 6,662 KRW 7,760 KRW 76
ROIC Compounder 10,117 KRW 11,678 KRW 13,341 KRW 72
Growth Earnings
Growth-Adj P/E 6,336 KRW 9,051 KRW 11,766 KRW 68

Widest divergence: DCF Models (14,269 KRW) versus Dividend Discount (1,400 KRW). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 2.1T KRW
Revenue growth (YoY) +32.0%
Net margin 3.4%
Return on equity 13.7%
Free cash flow −5.1B KRW FY2025
Operating margin 4.5%
More key figures
EPS growth (YoY) +322%
Net debt 70.0B KRW FY2025

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

Quality Score breakdown

Overall quality 36/100

Of which business quality 34 · Market factors (momentum, volatility) 39

Profitability 32
Margins and returns on capital today
Quality Growth 63
Are margins and returns improving?
Cashflow 8
Earnings quality: real cash, not paper profit
Fin. Strength 32
Balance sheet, leverage, solvency risk
Investment 67
Disciplined investing over empire-building
Low Volatility 22
Calm price path (market factor)
Momentum 34
Price trend over the last 3–12 months (market factor)
52W Momentum 67
Distance to the 52-week high (market factor)
Net Issuance 28
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

HJ Shipbuilding & Construction Co., Ltd. engages in the construction and shipbuilding business in South Korea. The company offers architecture, housing, infrastructure, plant, and research and development services. It also provides shipbuilding services, such as warships, special purpose ships, and commercial ships.

Full company description

HJ Shipbuilding & Construction Co., Ltd. engages in the construction and shipbuilding business in South Korea. The company offers architecture, housing, infrastructure, plant, and research and development services. It also provides shipbuilding services, such as warships, special purpose ships, and commercial ships. The company was founded in 1937 and is based in Busan, South Korea. HJ Shipbuilding & Construction Co., Ltd. operates as a subsidiary of Echo Prime Marine Pacific Co., Ltd.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

HJ Shipbuilding & Construction Co reported revenue of 2.0T KRW in FY2025 versus 1.7T KRW in FY2021, a compound +4.0%/yr. Reported net income was 51.4B KRW in FY2025.

Growth Quality 38/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
2.0T KRW
Latest YoY
+6.0%
Avg. growth/yr (3Y)
+3.8%
Avg. growth/yr (5Y)
+3.4%
Avg. growth/yr (18Y)
+2.8%
Revenue +4.0%/yr
FY21 1.7T KRW
FY22 1.8T KRW
FY23 2.2T KRW
FY24 1.9T KRW
FY25 2.0T KRW
Net income
FY21 −140B KRW
FY22 −50.2B KRW
FY23 −114B KRW
FY24 5.3B KRW
FY25 51.4B KRW

097230 screens 46% overvalued. Compare with Larsen & Toubro Limited →

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Cite: Fair Value Calculator (2026). "HJ Shipbuilding & Construction Co Fair Value". https://www.fairvalue-calculator.com/stock/097230

Peer Group

Engineering & Construction · 837 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 36 · Bottom 25%
Fair Value upside −46% · Below median
Return on equity (TTM) 14% · Above median
Return on assets 2% · Below median
Net margin (TTM) 3% · Above median
Operating margin (TTM) 5% · Below median
Revenue growth 32% · Top 25%
Debt / equity 0.07× · Lower than median

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 16
FUTURE 100 · sector 18
PAST 55 · sector 26
HEALTH 97 · sector 94
DIVIDEND 0 · sector 33

VALUE 0: the price sits above our fair-value range.

Insider activity: 45/100

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 Engineering & Construction stocks, each showing price versus our Fair Value estimate (as of Jul 22, 2026).

Stock Price Fair Value vs Fair Value
Larsen & Toubro Limited LT ₹3,815 ₹1,994 -48%
Samsung C&T Corporation 028260 346,000 KRW 268,779 KRW -22%
Hyundai Engineering & Construction Co 000720 99,000 KRW 63,993 KRW -35%
United Integrated Services Co 2404 1,250 TWD 925.62 TWD -26%
Samsung E&A Co 028050 42,550 KRW 44,840 KRW +5%
Rail Vikas Nigam Limited RVNL ₹232.67 ₹61.46 -74%
Daewoo Engineering & Construction Co 047040 16,240 KRW 6,507 KRW -60%
NBCC (India) Limited NBCC ₹96.32 ₹48.22 -50%
Cemindia Projects Limited CEMPRO ₹1,330 ₹730.69 -45%
KEPCO Engineering & Construction Company 052690 92,700 KRW 20,172 KRW -78%

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Frequently asked questions

Is HJ Shipbuilding & Construction Co (097230) overvalued or undervalued?
As of Jul 22, 2026, our model estimates a fair value of 9,051 KRW versus a price of 16,700 KRW, about −46% (overvalued).
What is the fair value of 097230?
Our model-based fair value for HJ Shipbuilding & Construction Co is 9,051 KRW (as of Jul 22, 2026), built from audited fundamentals. The current price is 16,700 KRW.
What is the quality score of 097230?
HJ Shipbuilding & Construction Co has a Quality Score of 36/100. 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 HJ Shipbuilding & Construction Co (097230)?
HJ Shipbuilding & Construction Co reported trailing-twelve-month revenue of about 2.1T KRW (latest available figure, as of Jul 22, 2026).
What is the net profit margin of 097230?
The net profit margin of HJ Shipbuilding & Construction Co is about 3.4%, meaning it keeps roughly 3.4% 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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