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Dongbang Ship Machinery Co. Ltd (099410) Fair Value & Analysis

Industrials · KR · Market cap 41.0B KRW

DS Dongbang Ship Machinery Co. Ltd 099410 · KQ
Price3,345 KRW
Fair Value9,927 KRW
Upside+196.8%
Quality69/100
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Strengths

Trades 66% below our fair value of 9,927 KRW
Healthy Growth (revenue 5y +14.2 %/yr)
Low debt · generates free cash flow

Risks

!Loss over the last twelve months · -10.3% net margin · fiscal year 2025 19.0%
!Trails peers (3/9)
!Narrow moat 23/100
!Weak on dividend: 22 out of 100
Healthy Growth (revenue 5y +14.2 %/yr)
Loss over the last twelve months · -10.3% net margin · fiscal year 2025 19.0%
Low debt · generates free cash flow
Trails peers (3/9)
Narrow moat 23/100
Evidence: High Range 7,288 KRW – 12,565 KRW Share as image

Fair value as of: Aug 13, 2026

From 26 valuation models · updated 13 days ago

Fair value updated Aug 13, 2026, revised from 10,211 KRW to 9,927 KRW (−2.8%) since Jul 22, 2026. Share price +11.5% over the past month.

A solid business, trading 66% below our fair value.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

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What matters now

  • The price is below even our cautious bear case (7,288 KRW). The market is more pessimistic than our downside scenario.
  • Solid quality (69/100) 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)

6,720 KRW 1,500 KRW Fair Value 9,927 KRW Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range 1,500 KRW – 6,720 KRW · fair‑value band 7,288 KRW – 12,565 KRW · the 3,345 KRW price screens below the 9,927 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Dongbang Ship Machinery Co. Ltd (099410) currently trades at 3,345 KRW, while our model-based Fair Value estimate is 9,927 KRW, implying the stock looks roughly 196.8% undervalued today. The Quality Score stands at 69/100 (solid quality), in the Industrials 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, Dongbang Ship Machinery Co. Ltd generated revenue of 25.0B KRW at a net margin of -10.3%. Revenue declined 40.2% year over year. Net debt stands at 8.3B KRW. Fundamentals as of Aug 13, 2026

Our scenario range runs from 7,288 KRW (bear case) to 12,565 KRW (bull case); at 3,345 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 54% below its 52-week high and 6% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -13% fair-value upside, at 197%, 099410 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 8,631 KRW 12,608 KRW 18,253 KRW 80
Residual Income 3,992 KRW 5,448 KRW 19,142 KRW 76
Rev-Margin DCF 5,516 KRW 8,036 KRW 10,929 KRW 74
All 26 models by family
DCF Models
FCF DCF 8,467 KRW 12,918 KRW 19,621 KRW 38
Owner Earnings 7,867 KRW 11,998 KRW 18,218 KRW 31
5Y Revenue Exit 5,516 KRW 7,941 KRW 10,927 KRW 39
5Y EBITDA Exit 7,613 KRW 11,825 KRW 16,652 KRW 41
5Y P/E Exit 8,502 KRW 13,472 KRW 18,614 KRW 38
10Y Revenue Exit 6,395 KRW 8,842 KRW 11,939 KRW 36
10Y EBITDA Exit 7,846 KRW 11,524 KRW 16,269 KRW 37
10Y P/E Exit 8,411 KRW 12,662 KRW 17,753 KRW 35
Earnings-Based
Graham-Dodd 4,085 KRW 12,087 KRW 15,992 KRW 54
Lynch FV 2,540 KRW 3,628 KRW 4,716 KRW 50
PEG = 1.0 2,540 KRW 3,628 KRW 4,716 KRW 46
EPV 6,146 KRW 7,149 KRW 8,026 KRW 59
Dividend Discount
Gordon GGM 412.12 KRW 856.88 KRW 1,359 KRW 70
DDM Multi-Stage 412.12 KRW 666.68 KRW 899.32 KRW 61
Multiples
P/E Multiple 9,461 KRW 12,614 KRW 15,768 KRW 63
P/S Multiple 4,747 KRW 6,329 KRW 7,911 KRW 58
P/B Multiple 7,659 KRW 10,211 KRW 12,764 KRW 55
EV/EBIT 9,079 KRW 12,062 KRW 15,045 KRW 53
EV/EBITDA 8,045 KRW 10,684 KRW 13,322 KRW 54
EV/Revenue 4,117 KRW 5,825 KRW 7,534 KRW 43
Asset-Based
NCAV (Graham) 1,883 KRW 2,523 KRW 3,766 KRW 50
Growth DCF
Growth DCF 8,631 KRW 12,608 KRW 18,253 KRW 80
Rev-Margin DCF 5,516 KRW 8,036 KRW 10,929 KRW 74
Economic Profit
Residual Income 3,992 KRW 5,448 KRW 19,142 KRW 76
ROIC Compounder 6,526 KRW 8,207 KRW 10,181 KRW 72
Growth Earnings
Growth-Adj P/E 7,689 KRW 10,985 KRW 14,280 KRW 68

Widest divergence: DCF Models (11,825 KRW) versus Dividend Discount (666.68 KRW). Highest evidence: Growth DCF (80).

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Key figures & financial health

P/S ratio 1.64 TTM
Net margin -10.3% TTM
Return on equity 1,625% TTM
Return on assets 0.4% TTM
Operating margin 1.1% TTM
Revenue (TTM) 25.0B KRW TTM
More key figures
Growth
Revenue growth (YoY) -40.2% 3y avg +19.0%
Balance sheet & cash flow
Free cash flow 9.8B KRW FY2025
Net debt 8.3B KRW FY2024 · ≈ 0.8 yrs of FCF

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 69/100

Of which business quality 74 · Market factors (momentum, volatility) 17

Profitability 59
Margins and returns on capital today
Quality Growth 77
Are margins and returns improving?
Cashflow 83
Earnings quality: real cash, not paper profit
Fin. Strength 90
Balance sheet, leverage, solvency risk
Investment 45
Disciplined investing over empire-building
Low Volatility 30
Calm price path (market factor)
Momentum 9
Price trend over the last 3–12 months (market factor)
52W Momentum 16
Distance to the 52-week high (market factor)
Net Issuance 77
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Dongbang Ship Machinery Co., Ltd. designs and manufactures pipe spool and module units in South Korea. It offers module units, including GE fuel oil supplying systems for ship boiler; L.O H.F.O purihier units for marine engine; M.E fuel oil supply units; steel pipe spool for high temperature, high pressure boilers and pipes for high temperature, high …

Full company description

Dongbang Ship Machinery Co., Ltd. designs and manufactures pipe spool and module units in South Korea. It offers module units, including GE fuel oil supplying systems for ship boiler; L.O H.F.O purihier units for marine engine; M.E fuel oil supply units; steel pipe spool for high temperature, high pressure boilers and pipes for high temperature, high pressure oil refinery; sus pipe spool used in petroleum chemical industry, ship machineries and chemical valves, plumbing pipes, valves, food machineries, kitchen machineries, or surface finishing for regular equipment; and copper pipe spool used for heat transformer. The company was incorporated in 1994 and is headquartered in Jinhae, South Korea.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Dongbang Ship Machinery Co. Ltd reported revenue of 41.9B KRW in FY2025 versus 23.0B KRW in FY2021, a compound +16.2%/yr. Reported net income was 7.9B KRW in FY2025, compounding +65.5%/yr from FY2021.

Growth Quality 95/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
41.9B KRW
Latest YoY
+17.3%
Avg. revenue 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.
+19.0%
Avg. revenue 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.
+14.2%
Avg. revenue growth/yr (16Y) 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.
−2.1%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+48.8% (48.8 + 0.0)
Revenue +16.2%/yr
FY21 23.0B KRW
FY22 24.9B KRW
FY23 27.3B KRW
FY24 35.7B KRW
FY25 41.9B KRW
Net income +65.5%/yr
FY21 1.1B KRW
FY22 1.3B KRW
FY23 4.8B KRW
FY24 6.0B KRW
FY25 7.9B KRW

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Cite: Fair Value Calculator (2026). "Dongbang Ship Machinery Co. Ltd Fair Value". https://www.fairvalue-calculator.com/stock/099410

Peer Group

Machinery, Tools, Heavy Vehicles, Trains & Ships · 39 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 69 · Top 25%
Fair Value upside +197% · Top 25%
Return on assets 0% · Below median
Net margin (TTM) -10% · Bottom 25%
Operating margin (TTM) 1% · Below median
Revenue growth -40% · Bottom 25%
Dividend yield (TTM) 1.1% · Below median
Debt / equity 0.23× · Higher than 75% of peers

Valuation Multiples vs Machinery, Tools, Heavy Vehicles, Trains & Ships 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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE100 · sector 31
FUTURE0 · sector 62
PAST0 · sector 100
HEALTH89 · sector 99
DIVIDEND22 · sector 35

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

Similar stocks

10 more Machinery, Tools, Heavy Vehicles, Trains & Ships stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

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BHI Co 083650 56,500 KRW 43,356 KRW -23%
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SKF India Limited 500472 ₹1,532 ₹695.28 -55%
506076 506076 ₹2,164 ₹2,741 +27%
Hyulim ROBOT Co 090710 7,720 KRW 1,053 KRW -86%
Blue Star Limited 500067 ₹1,510 ₹3,534 +134%
Tae Kwang Corporation 023160 23,200 KRW 24,471 KRW +5%

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Frequently asked questions

Is Dongbang Ship Machinery Co. Ltd (099410) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 9,927 KRW versus a price of 3,345 KRW, about +197% (undervalued).
What is the fair value of 099410?
Our model-based fair value for Dongbang Ship Machinery Co. Ltd is 9,927 KRW (as of Aug 13, 2026), built from audited fundamentals. The current price: 3,345 KRW.
What is the quality score of 099410?
Dongbang Ship Machinery Co. Ltd has a Quality Score of 69/100. 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 Dongbang Ship Machinery Co. Ltd (099410)?
Dongbang Ship Machinery Co. Ltd reported trailing-twelve-month revenue of about 25.0B KRW (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 099410?
The net profit margin of Dongbang Ship Machinery Co. Ltd is about -10.3%, meaning it is currently running at a net loss. 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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