PJ Metal Co (128660) Fair Value & Analysis
Basic Materials · KR · Market cap 66.5B KRW
Fair value as of: Jul 22, 2026
From 15 valuation models · updated 19 days ago
Fair value updated Jul 22, 2026, revised from 5,227 KRW to 4,035 KRW (−22.8%) since Jun 25, 2026. Share price +1.6% over the past month.
A solid business, screening 44% undervalued on our models.
What matters now
- The price is below even our cautious bear case (3,026 KRW). The market is more pessimistic than our downside scenario.
- Solid quality (51/100) at a price below fair value, the discount is the argument here, not the business quality.
Price vs Fair Value (5 years)
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 2,071 KRW – 5,469 KRW · fair‑value band 3,026 KRW – 5,044 KRW · the 2,800 KRW price screens below the 4,035 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.
Analysis
PJ Metal Co (128660) currently trades at 2,800 KRW, while our model-based Fair Value estimate is 4,035 KRW, implying the stock looks roughly 44.1% undervalued today. The Quality Score stands at 51/100 (solid quality), in the Basic Materials 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, PJ Metal Co generated revenue of 368B KRW at a net margin of 1.8%. Revenue grew 22.3% year over year. It earns a return on equity of 9.4%. Net debt stands at 73.2B KRW. Fundamentals as of Jul 22, 2026
Our scenario range runs from 3,026 KRW (bear case) to 5,044 KRW (bull case); at 2,800 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 32% below its 52-week high and 14% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at 19% fair-value upside, at 44%, 128660 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.
All 15 models by family
Widest divergence: DCF Models (7,650 KRW) versus Asset-Based (1,995 KRW). Highest evidence: Residual Income (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 22, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 48 · Market factors (momentum, volatility) 40
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
PJ Metal Co., Ltd. engages in the manufacturing of aluminum deoxidizers and billets in South Korea. The company's aluminum deoxidizers include pellets, mini-pellets, and shot deoxidizers, which are used to remove the oxygen contained in molten iron.
Full company description
PJ Metal Co., Ltd. engages in the manufacturing of aluminum deoxidizers and billets in South Korea. The company's aluminum deoxidizers include pellets, mini-pellets, and shot deoxidizers, which are used to remove the oxygen contained in molten iron. It also offers aluminum flux, which consists of slab stabilizers and deoxidizers that enhances the yield rate of valid ingredients in the molten iron; and aluminum billets for applications in materials for construction and industrial parts, as well as for vehicle, and electricity and electronics in factories for pressing out. PJ Metal Co., Ltd. was founded in 1984 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
PJ Metal Co reported revenue of 349B KRW in FY2025 versus 246B KRW in FY2021, a compound +9.1%/yr. Reported net income was 7.6B KRW in FY2025, compounding −19.7%/yr from FY2021.
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Peer Group
Aluminum · 83 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.
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.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Aluminum stocks, each showing price versus our Fair Value estimate (as of Jul 22, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Shandong Hongqiao Aluminum Industry Holding 002379 | ¥18.54 | ¥26.70 | +44% |
| China Hongqiao Group 1378 | HK$24.54 | HK$45.53 | +86% |
| Hindalco Industries Limited HINDALCO | ₹955.80 | ₹1,026 | +7% |
| Aluminum Corporation 601600 | ¥8.11 | ¥12.58 | +55% |
| Norsk Hydro ASA NHY | kr 84.96 | kr 58.10 | -32% |
| Press Metal Aluminium Holdings 8869 | 8.02 MYR | 3.88 MYR | -52% |
| Alcoa Corporation AAI | A$70.60 | A$49.53 | -30% |
| Yunnan Aluminium Co 000807 | ¥25.12 | ¥29.68 | +18% |
| Henan Shenhuo Coal Industry and Electricity Power Co 000933 | ¥25.51 | ¥30.28 | +19% |
| Tianshan Aluminum Group 002532 | ¥11.99 | ¥21.86 | +82% |
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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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