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CS Wind Corporation (112610) Fair Value & Analysis

Industrials · KR · Market cap 1.7T KRW

CW CS Wind Corporation 112610 · KO
Price43,850 KRW
Fair Value20,366 KRW
Upside-53.6%
Quality53/100
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Mixed Growth
Loss-making · -0.6% net margin
Low debt · generates free cash flow
2.58% dividend yield
Mixed vs. peers (4/10)
Narrow moat 32/100
Evidence: High Range 18,083 KRW – 27,826 KRW Share as image

Fair value as of: Jul 22, 2026

From 24 valuation models · updated 19 days ago

Share price +12.3% over the past month.

A solid business, but screening 54% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (27,826 KRW). The favourable scenario is already priced in.
  • Solid but not exceptional quality (53/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

83,695 KRW 29,735 KRW Fair Value 20,366 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 29,735 KRW – 83,695 KRW · fair‑value band 18,083 KRW – 27,826 KRW · the 43,850 KRW price screens above the 20,366 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

CS Wind Corporation (112610) currently trades at 43,850 KRW, while our model-based Fair Value estimate is 20,366 KRW, implying the stock looks roughly 53.6% overvalued today. The Quality Score stands at 53/100 (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: high).

Over the trailing twelve months, CS Wind Corporation generated revenue of 2.7T KRW at a net margin of -0.6%. Revenue declined 21.2% year over year. It earns a return on equity of -0.9%. Net debt stands at 519B KRW. Fundamentals as of Jul 22, 2026

Our scenario range runs from 18,083 KRW (bear case) to 27,826 KRW (bull case); at 43,850 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 45% below its 52-week high and 15% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -48% fair-value upside, at -54%, 112610 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
Growth DCF 174,358 KRW 339,331 KRW 687,057 KRW 80
Residual Income 20,474 KRW 19,976 KRW 17,220 KRW 76
Rev-Margin DCF 103,463 KRW 198,834 KRW 355,983 KRW 74
All 24 models by family
DCF Models
FCF DCF 185,125 KRW 299,802 KRW 674,768 KRW 38
Owner Earnings 41,822 KRW 100,851 KRW 230,314 KRW 31
5Y Revenue Exit 103,463 KRW 173,376 KRW 315,530 KRW 39
5Y EBITDA Exit 133,433 KRW 235,127 KRW 430,104 KRW 41
5Y P/E Exit 56,304 KRW 88,416 KRW 125,378 KRW 38
10Y Revenue Exit 123,727 KRW 246,069 KRW 332,909 KRW 36
10Y EBITDA Exit 149,135 KRW 309,884 KRW 601,724 KRW 37
10Y P/E Exit 92,113 KRW 145,656 KRW 224,111 KRW 35
Earnings-Based
Graham-Dodd 5,694 KRW 39,712 KRW 55,730 KRW 54
Lynch FV 13,881 KRW 19,830 KRW 25,779 KRW 50
PEG = 1.0 13,881 KRW 19,830 KRW 25,779 KRW 46
EPV 67,442 KRW 79,719 KRW 90,632 KRW 59
Multiples
P/E Multiple 13,189 KRW 17,586 KRW 21,982 KRW 63
P/S Multiple 10,677 KRW 14,236 KRW 17,795 KRW 58
P/B Multiple 10,677 KRW 14,236 KRW 17,795 KRW 55
EV/EBIT 96,429 KRW 129,282 KRW 162,135 KRW 53
EV/EBITDA 112,755 KRW 151,049 KRW 189,344 KRW 54
EV/Revenue 68,215 KRW 98,362 KRW 128,509 KRW 43
Asset-Based
NCAV (Graham) 13,913 KRW 18,643 KRW 27,826 KRW 50
Growth DCF
Growth DCF 174,358 KRW 339,331 KRW 687,057 KRW 80
Rev-Margin DCF 103,463 KRW 198,834 KRW 355,983 KRW 74
Economic Profit
Residual Income 20,474 KRW 19,976 KRW 17,220 KRW 76
ROIC Compounder 89,191 KRW 138,183 KRW 196,618 KRW 72
Growth Earnings
Growth-Adj P/E 18,083 KRW 25,833 KRW 33,583 KRW 68

Widest divergence: Growth DCF (198,834 KRW) versus Multiples (17,586 KRW). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 2.7T KRW
Revenue growth (YoY) -21.2%
Net margin -0.6%
Return on equity -0.9%
Free cash flow 435B KRW FY2025
Operating margin 10.4%
More key figures
Dividend yield 2.6%
EPS growth (YoY) -54.7%
Net debt 519B KRW FY2025

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

Quality Score breakdown

Overall quality 53/100

Of which business quality 55 · Market factors (momentum, volatility) 28

Profitability 31
Margins and returns on capital today
Quality Growth 43
Are margins and returns improving?
Cashflow 78
Earnings quality: real cash, not paper profit
Fin. Strength 48
Balance sheet, leverage, solvency risk
Investment 49
Disciplined investing over empire-building
Low Volatility 39
Calm price path (market factor)
Momentum 25
Price trend over the last 3–12 months (market factor)
52W Momentum 23
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

CS Wind Corporation manufactures and sells wind towers and offshore wind substructures in Europe, North America, and Asia. It offers onshore and offshore wind power towers; transition pieces; wind power equipment; offshore wind power substructure construction contract services; aluminum platforms; and wind towers research and development services.

Full company description

CS Wind Corporation manufactures and sells wind towers and offshore wind substructures in Europe, North America, and Asia. It offers onshore and offshore wind power towers; transition pieces; wind power equipment; offshore wind power substructure construction contract services; aluminum platforms; and wind towers research and development services. The company was formerly known as Choong San Wind Corporation and changed its name to CS Wind Corporation in 2007. CS Wind Corporation was founded in 2006 and is headquartered in Seoul, South Korea.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

CS Wind Corporation reported revenue of 2.9T KRW in FY2025 versus 1.2T KRW in FY2021, a compound +24.9%/yr. Reported net income was 34.7B KRW in FY2025, compounding −14.9%/yr from FY2021.

Growth Quality 84/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
2.9T KRW
Latest YoY
−4.6%
Avg. growth/yr (3Y)
+28.7%
Avg. growth/yr (5Y)
+24.8%
Avg. growth/yr (11Y)
+22.0%
Revenue +24.9%/yr
FY21 1.2T KRW
FY22 1.4T KRW
FY23 1.5T KRW
FY24 3.1T KRW
FY25 2.9T KRW
Net income −14.9%/yr
FY21 66.2B KRW
FY22 1.9B KRW
FY23 19.4B KRW
FY24 142B KRW
FY25 34.7B KRW

112610 screens 54% overvalued. Compare with GE Vernova Inc →

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Cite: Fair Value Calculator (2026). "CS Wind Corporation Fair Value". https://www.fairvalue-calculator.com/stock/112610

Peer Group

Specialty Industrial Machinery · 809 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 53 · Below median
Fair Value upside −54% · Below median
Return on assets 5% · Above median
Net margin (TTM) -1% · Bottom 25%
Operating margin (TTM) 10% · Above median
Revenue growth -21% · Bottom 25%
Dividend yield (TTM) 2.6% · Top 25%
Debt / equity 0.49× · Higher than 75% of peers

Valuation Multiples vs Specialty Industrial Machinery 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 0 · sector 0
FUTURE 0 · sector 23
PAST 0 · sector 28
HEALTH 75 · sector 96
DIVIDEND 52 · sector 24

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

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 Specialty Industrial Machinery stocks, each showing price versus our Fair Value estimate (as of Jul 22, 2026).

Stock Price Fair Value vs Fair Value
GE Vernova Inc 1GEV €887.60 €186.93 -79%
1SIE 1SIE €273.20 €91.93 -66%
SMNS SMNS C$31.76 C$22.68 -29%
Eaton Corporation ETN $407.28 $171.92 -58%
Atlas Copco AB ATCOA kr 195.15 kr 112.59 -42%
Sandvik AB SAND kr 384.10 kr 193.01 -50%
Doosan Enerbility Co 034020 76,400 KRW 7,938 KRW -90%
Vestas Wind Systems A/S VWS kr 178.10 kr 124.54 -30%
Zhejiang Sanhua Intelligent Controls Co 002050 ¥43.20 ¥22.68 -48%
NARI Technology Co 600406 ¥22.19 ¥18.71 -16%

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Frequently asked questions

Is CS Wind Corporation (112610) overvalued or undervalued?
As of Jul 22, 2026, our model estimates a fair value of 20,366 KRW versus a price of 43,850 KRW, about −54% (overvalued).
What is the fair value of 112610?
Our model-based fair value for CS Wind Corporation is 20,366 KRW (as of Jul 22, 2026), built from audited fundamentals. The current price is 43,850 KRW.
What is the quality score of 112610?
CS Wind Corporation has a Quality Score of 53/100. 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 CS Wind Corporation (112610)?
CS Wind Corporation reported trailing-twelve-month revenue of about 2.7T KRW (latest available figure, as of Jul 22, 2026).
What is the net profit margin of 112610?
The net profit margin of CS Wind Corporation is about -0.6%, meaning it is currently running at a net loss. Based on the latest reported figures.
Does CS Wind Corporation pay a dividend?
CS Wind Corporation currently shows a dividend yield of about 2.47% relative to its recent price (as of Jul 22, 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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