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SEOJEON ELECTRIC MACHINERY Co.Ltd (189860) fair value: what the stock is really worth

As of Sep 23, 2026: fair value of SEOJEON ELECTRIC MACHINERY Co.Ltd KRW 11,923, price KRW 4,940, upside +141.4%, quality 47 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? No
  3. Add to watchlist

Industrials · KR · ISIN KR7189860000

SE Some data Sep 27, 2026

SEOJEON ELECTRIC MACHINERY Co.Ltd

189860 · KQ

Cheap, value-trap riskThe stock looks deeply undervalued, but low quality raises value-trap risk.

✓Fair value 11,923 KRW · Strongly undervalued (+141.4%)
!Quality 47/100
!Expensive Growth (revenue 5y +2.1 %/yr)
!Thin margins · 2.8% net margin (TTM)
!Low debt · negative free cash flow
!Mixed vs. peers (5/9)
!Narrow moat 38/100
!Evidence only medium, so the estimate is less certain
!Weak on past: 18 out of 100

What runs behind every stock

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

Price vs Fair Value

16,086 KRW 2,910 KRW Fair Value 11,923 KRW Apr 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 27, 2026.

How to read this chart

60‑month range 2,910 KRW – 16,086 KRW · fair‑value band 8,346 KRW – 15,203 KRW · the 4,940 KRW price screens below the 11,923 KRW fair value. Dashed = 300-day average. As of Sep 27, 2026.

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Company profile

SEOJEON ELECTRIC MACHINERY Co.,Ltd. manufactures and sells electric switchboards and control panels in South Korea.

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SEOJEON ELECTRIC MACHINERY Co.,Ltd. manufactures and sells electric switchboards and control panels in South Korea. It offers switchgears, including environment friendly compact type, medium voltage compact, low voltage module, metal clad, gas insulated, asesmatic, smart, and DC switchgears, as well as rectifiers, motor control centers, and distribution panels; and e-Keey Dry system for applications in space where maintaining a certain level of humidity is required for electric insulation, including switchgear and automatic control panel. The company also provides Web-based power monitoring and control system, a remote monitoring and control system using the digital relay of power facilities in factories and buildings, or RTU; and smart grid systems. In addition, it undertakes electric works, including transmission and distribution, and various plant constructions; power equipment installation; solar power facilities installation; extension construction of buildings; lighting construction; and various renewals. SEOJEON ELECTRIC MACHINERY Co.,Ltd. was founded in 1988 and is headquartered in Icheon-si, South Korea.

Stock analysis

SEOJEON ELECTRIC MACHINERY Co.Ltd (189860) currently trades at 4,940 KRW, while our model-based Fair Value estimate is 11,923 KRW, implying the stock looks roughly 58.6% undervalued today.

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Valuation

Bull case: the Multiples group reads highest at a median of 12,162 KRW per share, and 6 of the 8 models we run sit above the 4,940 KRW price.

Bear case: the Earnings-Based group reads lowest at 2,368 KRW, and 2 of the 8 models stay below the price. Evidence for this calculation is medium.

Scenario range: 8,346 KRW (bear) to 15,203 KRW (bull), the price of 4,940 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 47/100 (below-average quality), in the Industrials sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

SEOJEON ELECTRIC MACHINERY Co.Ltd reported revenue of 68.1B KRW in FY2025 versus 52.5B KRW in FY2021, a compound +6.7%/yr. Reported net income was 6.9B KRW in FY2025.

Key figures

Market cap 47.9B KRW (≈ $35.3M) · P/S ratio 0.78 · Net margin 10.2% · Return on equity 4.5% · Return on assets (EBIT) −5.8% · Operating margin 10.2% · Revenue (TTM) 50.2B KRW · Revenue growth (YoY) +34.6%.

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 56% below its 52-week high and 70% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Industrials peers we cover trades at −38% fair-value upside, at 141%, 189860 screens cheaper than that median.

Fair Value models

Bear 8,346 KRW Fair Value 11,923 KRW Bull 15,203 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. 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.
Highest evidence
Residual Income 4,384 KRW 5,367 KRW 7,503 KRW 70
Growth-Adj P/E 8,346 KRW 11,923 KRW 15,500 KRW 67
Graham-Dodd 4,865 KRW 10,577 KRW 13,462 KRW 66
All 8 models by family
Earnings-Based
Graham-Dodd 4,865 KRW 10,577 KRW 13,462 KRW 66
PEG = 1.0 1,658 KRW 2,368 KRW 3,078 KRW 57
Multiples
P/E Multiple 11,268 KRW 15,024 KRW 18,780 KRW 63
P/S Multiple 9,122 KRW 12,162 KRW 15,203 KRW 58
P/B Multiple 9,122 KRW 12,162 KRW 15,203 KRW 55
Asset-Based
NCAV (Graham) 1,980 KRW 2,653 KRW 3,959 KRW 54
Economic Profit
Residual Income 4,384 KRW 5,367 KRW 7,503 KRW 70
Growth Earnings
Growth-Adj P/E 8,346 KRW 11,923 KRW 15,500 KRW 67

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Quality Score breakdown

Overall quality 47/100

Of which business quality 46 · Market factors (momentum, volatility) 55

Profitability 52
Margins and returns on capital today
Quality Growth 47
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 61
Balance sheet, leverage, solvency risk
Investment 46
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 55
Price trend over the last 3–12 months (market factor)
52W Momentum 59
Distance to the 52-week high (market factor)
Net Issuance 82
Share count: buybacks or dilution?

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Revenue & earnings trend

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. 24/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+7.5%
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.
+10.3%
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.
+2.1%
Start year 2020 (pandemic). Over 10 years: +4.9% a year
Revenue growth 12 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.
+1.8%
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. 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.
+29.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+29.1%
Dividend (yield on the price)0.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.29.1% vs 17.5%, picking up
Profit margin 2020 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.5% → −13%
Start year 2020 (pandemic)

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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.Electrical Equipment & Parts · 545 stocks

Beats the industry median on 5/9 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 47 · Below median
Fair Value upside +141.4% · Top 25%
Profitability
Return on equity (TTM) 4.5% · Below median
Return on assets 3.2% · Above median
Net margin (TTM) 2.8% · Below median
Operating margin (TTM) 10.2% · Above median
Growth and dividend
Revenue growth 34.6% · Top 25%
Balance sheet
Debt / equity 0.25× · Above median

Valuation Multiplesvs Electrical Equipment & Parts median · lower = cheaper

EV/EBITDA 1.1× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 0
FUTURE (revenue growth)100 · sector 58
PAST (return on equity)18 · sector 26
HEALTH (low debt)88 · sector 97
DIVIDEND (yield)0 · sector 23

Context: sector, industry, market

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 Electrical Equipment & Parts stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Contemporary Amperex Technology Co 300750 ¥293.50 ¥695.24 +137%
ABB Ltd ABBN CHF 80.18 CHF 29.71 −63%
Delta Electronics (Thailand) Public Company DELTA 263.00 THB 38.64 THB −85%
Vertiv Holdings VRT $253.28 $178.68 −29%
Prysmian S.p.A PRY €122.40 €75.63 −38%
Legrand SA LR €134.85 €82.77 −39%
nVent Electric plc NVT $164.41 $43.51 −74%
Sungrow Power Supply Co 300274 ¥84.21 ¥185.48 +120%
Hubbell Incorporated HUBB $466.62 $293.28 −37%
LS ELECTRIC Co 010120 205,500 KRW 29,518 KRW −86%

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Cite: Fair Value Calculator (2026). "SEOJEON ELECTRIC MACHINERY Co.Ltd Fair Value". https://www.fairvalue-calculator.com/stock/189860

Frequently asked questions

Is SEOJEON ELECTRIC MACHINERY Co.Ltd (189860) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of 11,923 KRW versus a price of 4,940 KRW, about +141% upside (undervalued).
What is the fair value of 189860?
Our model-based fair value for SEOJEON ELECTRIC MACHINERY Co.Ltd is 11,923 KRW (as of Sep 27, 2026), built from audited fundamentals. The current price: 4,940 KRW.
What is the quality score of 189860?
SEOJEON ELECTRIC MACHINERY Co.Ltd has a Quality Score of 47/100. 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 SEOJEON ELECTRIC MACHINERY Co.Ltd (189860)?
Our model-based price target is the fair value of 11,923 KRW (as of Sep 27, 2026) from 8 valuation models. Cautious scenario 8,346 KRW, optimistic scenario 15,203 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the SEOJEON ELECTRIC MACHINERY Co.Ltd stock forecast for 2026?
Our models put fair value at 11,923 KRW, about +141% upside versus a price of 4,940 KRW (undervalued). Cautious scenario 8,346 KRW, optimistic scenario 15,203 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of SEOJEON ELECTRIC MACHINERY Co.Ltd (189860)?
SEOJEON ELECTRIC MACHINERY Co.Ltd reported trailing-twelve-month revenue of about 50.2B KRW (latest available figure, as of Sep 27, 2026).
What is the intrinsic value of SEOJEON ELECTRIC MACHINERY Co.Ltd (189860)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For SEOJEON ELECTRIC MACHINERY Co.Ltd it is 11,923 KRW per share (as of Sep 27, 2026), against a price of 4,940 KRW. It is the blended result of 8 valuation models (cash flow, earnings, asset, dividend).
Is SEOJEON ELECTRIC MACHINERY Co.Ltd stock overvalued or undervalued in 2026?
As of Sep 27, 2026, 189860 trades below its calculated fair value: price 4,940 KRW, fair value 11,923 KRW, a gap of about +141% (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 189860?
No. The price is what the market pays today (4,940 KRW); the fair value is what the company's own numbers justify (11,923 KRW). For SEOJEON ELECTRIC MACHINERY Co.Ltd the two are 6,983 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is SEOJEON ELECTRIC MACHINERY Co.Ltd worth?
The market values SEOJEON ELECTRIC MACHINERY Co.Ltd at about 47.9B KRW (market capitalisation, as of Sep 27, 2026). Per share that is 4,940 KRW; our models calculate a fair value of 11,923 KRW per share.
What do the bullish and bearish scenarios say about 189860?
Our models span a range for SEOJEON ELECTRIC MACHINERY Co.Ltd: cautious scenario 8,346 KRW, base 11,923 KRW, optimistic 15,203 KRW per share (as of Sep 27, 2026, price 4,940 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of SEOJEON ELECTRIC MACHINERY Co.Ltd (189860)?
Balance-sheet figures for SEOJEON ELECTRIC MACHINERY Co.Ltd (as of Sep 27, 2026): return on equity 4.5%, debt of 0.25 per unit of equity. They feed the Quality Score of 47/100, which measures business quality independently of the share price.
How far is 189860 from its 52-week high?
SEOJEON ELECTRIC MACHINERY Co.Ltd trades at 4,940 KRW, about 56% below its 52-week high of 11,300 KRW and 70% above the low of 2,910 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 11,923 KRW is for.
Which stocks are comparable to SEOJEON ELECTRIC MACHINERY Co.Ltd?
From the same area (Industrials) we also value Contemporary Amperex Technology Co, ABB Ltd, Delta Electronics (Thailand) Public Company, Vertiv Holdings, 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 SEOJEON ELECTRIC MACHINERY Co.Ltd stock attractive at the current price?
The data as of Sep 27, 2026: price 4,940 KRW, calculated fair value 11,923 KRW (+141%), Quality Score 47/100, from 8 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 189860 calculated?
We run SEOJEON ELECTRIC MACHINERY Co.Ltd through 8 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 11,923 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 16.1 % above its aggregate fair value. SEOJEON ELECTRIC MACHINERY Co.Ltd currently trades 141 % 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 SEOJEON ELECTRIC MACHINERY Co.Ltd (189860)?
The closing price on Sep 23, 2026 was 4,940 KRW. Our model-based fair value is 11,923 KRW, about +141% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with SEOJEON ELECTRIC MACHINERY Co.Ltd right now?
The price is below even our cautious bear case (8,346 KRW). The market is more pessimistic than our downside scenario. Solid quality (47/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (8,346 KRW to 15,203 KRW) leaves room in how you read the outcome.

Key figures of SEOJEON ELECTRIC MACHINERY Co.Ltd

How large is the market capitalisation of SEOJEON ELECTRIC MACHINERY Co.Ltd (189860)?
The market capitalisation of SEOJEON ELECTRIC MACHINERY Co.Ltd is 47.9B KRW (≈ $35.3M). 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 SEOJEON ELECTRIC MACHINERY Co.Ltd (189860)?
The price-to-sales ratio of SEOJEON ELECTRIC MACHINERY Co.Ltd is 0.78 (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 SEOJEON ELECTRIC MACHINERY Co.Ltd (189860)?
The net margin of SEOJEON ELECTRIC MACHINERY Co.Ltd is 10.2% (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 SEOJEON ELECTRIC MACHINERY Co.Ltd (189860)?
The return on equity (ROE) of SEOJEON ELECTRIC MACHINERY Co.Ltd is 4.5% (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 SEOJEON ELECTRIC MACHINERY Co.Ltd (189860)?
On an EBIT basis the return on assets of SEOJEON ELECTRIC MACHINERY Co.Ltd is −5.8% (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 SEOJEON ELECTRIC MACHINERY Co.Ltd (189860)?
The operating margin of SEOJEON ELECTRIC MACHINERY Co.Ltd is 10.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at SEOJEON ELECTRIC MACHINERY Co.Ltd (189860)?
Revenue at SEOJEON ELECTRIC MACHINERY Co.Ltd is growing +34.6% versus a year earlier (3y avg +10.3%). 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 SEOJEON ELECTRIC MACHINERY Co.Ltd (189860)?
Earnings per share at SEOJEON ELECTRIC MACHINERY Co.Ltd are growing −15.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does SEOJEON ELECTRIC MACHINERY Co.Ltd (189860) generate?
The free cash flow of SEOJEON ELECTRIC MACHINERY Co.Ltd is −16.3B 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 SEOJEON ELECTRIC MACHINERY Co.Ltd (189860) carry?
The net debt of SEOJEON ELECTRIC MACHINERY Co.Ltd is 6.7B KRW (fiscal year 2024). 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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