Ajusteel Co. Ltd. (139990) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Ajusteel Co. Ltd. KRW 2,119, price KRW 2,145, upside -1.2%, quality 23 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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AJUSTEEL Co.,Ltd manufactures and sells steel products in South Korea and internationally.
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AJUSTEEL Co.,Ltd manufactures and sells steel products in South Korea and internationally. Its products portfolio includes color steel plates under the Dprint, SUsilke, and Silk names; layer structures, including products with enhanced metal-copper clad laminate; and fire doors, wallsteel panels, louvers, glass products, partitions, and half-finished goods for elevators and escalators under the Atex brand name. The company was founded in 1995 and is based in Gumi-si, South Korea.
Stock analysis
Ajusteel Co. Ltd. (139990) currently trades at 2,145 KRW, while our model-based Fair Value estimate is 2,119 KRW, implying the stock looks roughly 1.2% fairly valued today.
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Valuation
How firm this estimate is: it rests on 2 models at a data quality of 95/100, which puts the evidence level at low.
Scenario range: 1,582 KRW (bear) to 3,163 KRW (bull), the price of 2,145 KRW sits inside 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 23/100 (below-average quality), in the Basic Materials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Ajusteel Co. Ltd. reported revenue of 1.1T KRW in FY2025 versus 933B KRW in FY2021, a compound +3.8%/yr. Reported net income was −41.2B KRW in FY2025.
Key figures
Market cap 81.2B KRW (≈ $56.9M) · P/S ratio 0.08 · Net margin −3.8% · Return on equity −23.2% · Return on assets (EBIT) 0.3% · Operating margin −0.3% · Revenue (TTM) 1.1T KRW · Revenue growth (YoY) −7.3%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 28 out of 100 (medium confidence).
What moves the price
The share trades about 53% below its 52-week high and 1% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −45% fair-value upside, at −1%, 139990 screens cheaper than that median.
Fair Value models
Bear 1,582 KRWFair Value 2,119 KRWBull 3,163 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.44/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+8.6%
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.
+0.9%
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.
+13.8%
Start year 2020 (pandemic)
Revenue growth 6 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.
+13.6%
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Profit margin (trend) ⓘ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.
5.0% (2020) → −2.3% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
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.Steel · 412 stocks
Beats the industry median on 2/8 measures
Overall it trails its industry peers.
Valuation
Quality Score23 · Bottom 25%
Fair Value upside−1% · Above median
Profitability
Return on assets−1% · Bottom 25%
Net margin (TTM)−3% · Bottom 25%
Operating margin (TTM)0% · Bottom 25%
Growth and dividend
Revenue growth−7% · Below median
Balance sheet
Debt / equity1.21× · Highest 25%
Valuation Multiplesvs Steel median · lower = cheaper
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Is Ajusteel Co. Ltd. (139990) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 2,119 KRW versus a price of 2,145 KRW, about −1% upside (fairly valued).
What is the fair value of 139990?
Our model-based fair value for Ajusteel Co. Ltd. is 2,119 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 2,145 KRW.
What is the quality score of 139990?
Ajusteel Co. Ltd. has a Quality Score of 23/100. 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 Ajusteel Co. Ltd. (139990)?
Our model-based price target is the fair value of 2,119 KRW (as of Sep 24, 2026) from 2 valuation models. Cautious scenario 1,582 KRW, optimistic scenario 3,163 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Ajusteel Co. Ltd. stock forecast for 2026?
Our models put fair value at 2,119 KRW, about −1% upside versus a price of 2,145 KRW (fairly valued). Cautious scenario 1,582 KRW, optimistic scenario 3,163 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Ajusteel Co. Ltd. (139990)?
Ajusteel Co. Ltd. reported trailing-twelve-month revenue of about 1.1T KRW (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of Ajusteel Co. Ltd. (139990)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Ajusteel Co. Ltd. it is 2,119 KRW per share (as of Sep 24, 2026), against a price of 2,145 KRW. It is the blended result of 2 valuation models (cash flow, earnings, asset, dividend).
Is Ajusteel Co. Ltd. stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 139990 trades above its calculated fair value: price 2,145 KRW, fair value 2,119 KRW, a gap of about −1% (fairly valued). 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 139990?
No. The price is what the market pays today (2,145 KRW); the fair value is what the company's own numbers justify (2,119 KRW). For Ajusteel Co. Ltd. the two are 25.52 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Ajusteel Co. Ltd. worth?
The market values Ajusteel Co. Ltd. at about 81.2B KRW (market capitalisation, as of Sep 24, 2026). Per share that is 2,145 KRW; our models calculate a fair value of 2,119 KRW per share.
What do the bullish and bearish scenarios say about 139990?
Our models span a range for Ajusteel Co. Ltd.: cautious scenario 1,582 KRW, base 2,119 KRW, optimistic 3,163 KRW per share (as of Sep 24, 2026, price 2,145 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Ajusteel Co. Ltd. (139990)?
Balance-sheet figures for Ajusteel Co. Ltd. (as of Sep 24, 2026): return on equity −23.2%, debt of 1.21 per unit of equity. They feed the Quality Score of 23/100, which measures business quality independently of the share price.
How far is 139990 from its 52-week high?
Ajusteel Co. Ltd. trades at 2,145 KRW, about 53% below its 52-week high of 4,545 KRW and 1% above the low of 2,125 KRW (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 2,119 KRW is for.
Which stocks are comparable to Ajusteel Co. Ltd.?
From the same area (Basic Materials) we also value Nucor Corporation, Steel Dynamics, Inc, JSW Steel Limited, Tata Steel 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 Ajusteel Co. Ltd. stock attractive at the current price?
The data as of Sep 24, 2026: price 2,145 KRW, calculated fair value 2,119 KRW (−1%), Quality Score 23/100, from 2 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 139990 calculated?
We run Ajusteel Co. Ltd. through 2 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 2,119 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 14.1 % above its aggregate fair value. Ajusteel Co. Ltd. itself currently trades above fair value. 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 Ajusteel Co. Ltd. (139990)?
The closing price on Sep 23, 2026 was 2,145 KRW. Our model-based fair value is 2,119 KRW, about −1% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Ajusteel Co. Ltd. right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range (1,582 KRW to 3,163 KRW) leaves room in how you read the outcome. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Key figures of Ajusteel Co. Ltd.
How large is the market capitalisation of Ajusteel Co. Ltd. (139990)?
The market capitalisation of Ajusteel Co. Ltd. is 81.2B KRW (≈ $56.9M). 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 Ajusteel Co. Ltd. (139990)?
The price-to-sales ratio of Ajusteel Co. Ltd. is 0.08 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the net margin of Ajusteel Co. Ltd. (139990)?
The net margin of Ajusteel Co. Ltd. is −3.8% (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 Ajusteel Co. Ltd. (139990)?
The return on equity (ROE) of Ajusteel Co. Ltd. is −23.2% (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 Ajusteel Co. Ltd. (139990)?
On an EBIT basis the return on assets of Ajusteel Co. Ltd. is 0.3% (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 Ajusteel Co. Ltd. (139990)?
The operating margin of Ajusteel Co. Ltd. is −0.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Ajusteel Co. Ltd. (139990)?
Revenue at Ajusteel Co. Ltd. is growing −7.3% versus a year earlier (3y avg +0.9%). 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 Ajusteel Co. Ltd. (139990)?
Earnings per share at Ajusteel Co. Ltd. are growing +261% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Ajusteel Co. Ltd. (139990) generate?
The free cash flow of Ajusteel Co. Ltd. is −24.8B KRW (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Ajusteel Co. Ltd. (139990) carry?
The net debt of Ajusteel Co. Ltd. is 523B KRW (fiscal year 2025). 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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