Hojeon Ltd (111110) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Hojeon Ltd KRW 19,290, price KRW 6,430, upside +200.0%, quality 54 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Hojeon Limited, a garment company, produces and sells garments in South Korea, Indonesia, and Vietnam. It offers woven sportswear, special functional outdoor clothing, and sports team's uniforms. The company was founded in 1985 and is headquartered in Seoul, South Korea.
Stock analysis
Hojeon Ltd (111110) currently trades at 6,430 KRW, while our model-based Fair Value estimate is 19,290 KRW, implying the stock looks roughly 66.7% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 32,050 KRW per share, and 25 of the 26 models we run sit above the 6,430 KRW price.
Bear case: the Dividend Discount group reads lowest at 6,053 KRW, and 1 of the 26 models stay below the price. Evidence for this calculation is low.
Scenario range: 13,503 KRW (bear) to 25,077 KRW (bull), the price of 6,430 KRW sits below 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 54/100 (solid quality), in the Consumer Cyclical sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Hojeon Ltd reported revenue of 521B KRW in FY2025 versus 345B KRW in FY2021, a compound +10.9%/yr. Reported net income was 12.5B KRW in FY2025, compounding +1.5%/yr from FY2021.
Key figures
Market cap 57.1B KRW (≈ $42.0M) · P/S ratio 0.11 · Dividend yield 6.2% · Net margin 2.4% · Return on equity 6.1% · Return on assets (EBIT) 8.8% · Operating margin −1.6% · Revenue (TTM) 505B KRW.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (medium confidence).
What moves the price
The share trades about 24% below its 52-week high and 4% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −21% fair-value upside, at 200%, 111110 screens cheaper than that median.
Fair Value models
Bear 13,503 KRWFair Value 19,290 KRWBull 25,077 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.72/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+12.3%
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.
+2.8%
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.
+12.2%
Start year 2020 (pandemic)
Revenue growth 9 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.
+5.7%
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What shareholders gained per year (last 5 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 5 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. Basis: EBIT basis. 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.
+8.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year+1.8%
Dividend (yield on the price)6.2%
Profit margin 2019 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.6% → 5%
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).
+17.6%
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 +15.2% 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.Textile Manufacturing · 344 stocks
Beats the industry median on 6/10 measures
Overall it ranks above its industry peers.
Valuation
Quality Score54 · Above median
Fair Value upside+200% · Top 25%
Profitability
Return on equity (TTM)6% · Above median
Return on assets3% · Above median
Net margin (TTM)2% · Below median
Operating margin (TTM)−2% · Bottom 25%
Growth and dividend
Revenue growth−15% · Bottom 25%
Dividend yield (TTM)6.2% · Top 25%
Balance sheet
Debt / equity0.18× · Above median
Valuation Multiplesvs Textile Manufacturing median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Hojeon Ltd Fair Value". https://www.fairvalue-calculator.com/stock/111110
Frequently asked questions
Is Hojeon Ltd (111110) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 19,290 KRW versus a price of 6,430 KRW, about +200% upside (undervalued).
What is the fair value of 111110?
Our model-based fair value for Hojeon Ltd is 19,290 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 6,430 KRW.
What is the quality score of 111110?
Hojeon Ltd has a Quality Score of 54/100. 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 Hojeon Ltd (111110)?
Our model-based price target is the fair value of 19,290 KRW (as of Sep 24, 2026) from 26 valuation models. Cautious scenario 13,503 KRW, optimistic scenario 25,077 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Hojeon Ltd stock forecast for 2026?
Our models put fair value at 19,290 KRW, about +200% upside versus a price of 6,430 KRW (undervalued). Cautious scenario 13,503 KRW, optimistic scenario 25,077 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Hojeon Ltd (111110)?
Hojeon Ltd reported trailing-twelve-month revenue of about 505B KRW (latest available figure, as of Sep 24, 2026).
Does Hojeon Ltd pay a dividend?
Hojeon Ltd currently shows a dividend yield of about 6.22% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Hojeon Ltd (111110)?
For today's price to be fair in a discounted-cash-flow model, Hojeon Ltd would have to grow free cash flow by +17.6 % per year for five years (discount rate 8.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +12.2 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 111110 use?
Our models discount Hojeon Ltd at 8.9 %: a base by market capitalisation (nano), damped by beta 0.44, 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 Hojeon Ltd that is +17.6 % per year a year over ten years, using the same discount rate (8.9 %) and the same formula as our fair value.
How much growth has Hojeon Ltd (111110) delivered so far?
Over the past 5 years revenue at Hojeon Ltd grew +12.2 % a year. The price currently implies +17.6 % 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 Hojeon Ltd (111110) growing?
The median revenue growth in the sector is +2.6 % a year. That is the yardstick for the growth priced into Hojeon Ltd (+17.6 % 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 Hojeon Ltd (111110)?
The free-cash-flow yield on the price is 9.54 %: that much free cash flow Hojeon Ltd produces per unit of market value. When it exceeds the discount rate of our models (8.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Hojeon Ltd (111110)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Hojeon Ltd it is 19,290 KRW per share (as of Sep 24, 2026), against a price of 6,430 KRW. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Hojeon Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 111110 trades below its calculated fair value: price 6,430 KRW, fair value 19,290 KRW, a gap of about +200% (undervalued). 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 111110?
No. The price is what the market pays today (6,430 KRW); the fair value is what the company's own numbers justify (19,290 KRW). For Hojeon Ltd the two are 12,860 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Hojeon Ltd worth?
The market values Hojeon Ltd at about 57.1B KRW (market capitalisation, as of Sep 24, 2026). Per share that is 6,430 KRW; our models calculate a fair value of 19,290 KRW per share.
What do the bullish and bearish scenarios say about 111110?
Our models span a range for Hojeon Ltd: cautious scenario 13,503 KRW, base 19,290 KRW, optimistic 25,077 KRW per share (as of Sep 24, 2026, price 6,430 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Hojeon Ltd (111110)?
Balance-sheet figures for Hojeon Ltd (as of Sep 24, 2026): return on equity 6.1%, debt of 0.18 per unit of equity. They feed the Quality Score of 54/100, which measures business quality independently of the share price.
How far is 111110 from its 52-week high?
Hojeon Ltd trades at 6,430 KRW, about 24% below its 52-week high of 8,417 KRW and 4% above the low of 6,170 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 19,290 KRW is for.
Which stocks are comparable to Hojeon Ltd?
From the same area (Consumer Cyclical) we also value Shenzhou International Group, Tongkun Group, Inner Mongolia ERDOS Resources Co, K.P.R. Mill Limited, 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 Hojeon Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price 6,430 KRW, calculated fair value 19,290 KRW (+200%), Quality Score 54/100, from 26 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 111110 calculated?
We run Hojeon Ltd through 26 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 19,290 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 14.0 % above its aggregate fair value. Hojeon Ltd currently trades 200 % below its own fair value, and the market average says nothing about that. 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 Hojeon Ltd (111110)?
The closing price on Sep 23, 2026 was 6,430 KRW. Our model-based fair value is 19,290 KRW, about +200% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Hojeon Ltd right now?
The price is below even our cautious bear case (13,503 KRW). The market is more pessimistic than our downside scenario. 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 quality (54/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (13,503 KRW to 25,077 KRW) leaves room in how you read the outcome.
Key figures of Hojeon Ltd
How large is the market capitalisation of Hojeon Ltd (111110)?
The market capitalisation of Hojeon Ltd is 57.1B KRW (≈ $42.0M). 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 Hojeon Ltd (111110)?
The price-to-sales ratio of Hojeon Ltd is 0.11 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the dividend yield of Hojeon Ltd (111110)?
The dividend yield of Hojeon Ltd is 6.2%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Hojeon Ltd (111110)?
The net margin of Hojeon Ltd is 2.4% (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 Hojeon Ltd (111110)?
The return on equity (ROE) of Hojeon Ltd is 6.1% (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 Hojeon Ltd (111110)?
On an EBIT basis the return on assets of Hojeon Ltd is 8.8% (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 Hojeon Ltd (111110)?
The operating margin of Hojeon Ltd is −1.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Hojeon Ltd (111110)?
Revenue at Hojeon Ltd is growing −14.9% versus a year earlier (3y avg +2.8%). 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 Hojeon Ltd (111110)?
Earnings per share at Hojeon Ltd are growing −31.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Hojeon Ltd (111110) carry?
The net debt of Hojeon Ltd is 134B KRW (fiscal year 2025, ≈ 24.7 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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