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Hyungkuk F&B Co Ltd (189980) Fair Value & Analysis

Consumer Defensive · KR · Market cap 45.2B KRW (≈ $31.6M) · ISIN KR7189980006

What is Hyungkuk F&B Co Ltd really worth?

HF Hyungkuk F&B Co Ltd 189980 · KQ
Price1,174 KRW
Fair Value2,779 KRW
Upside+136.7%
Quality44/100

Below-average quality, trading 58% below our fair value of 2,779 KRW.

As of Aug 13, 2026, the fair value of Hyungkuk F&B Co Ltd is 2,779 KRW per share against a price of 1,174 KRW, so the fair value sits 137% above the price. A model estimate blended from multiple valuation models, recalculated regularly.

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Risks

!Expensive Growth (revenue 5y +14.5 %/yr)
!Thin margins · 6.9% net margin
!Moderate debt · negative free cash flow
!Trails peers (3/10)
!Narrow moat 34/100
!Evidence only low, so the estimate is less certain
!Weak on past: 27 out of 100

For context

·17.04% dividend yield
Evidence: Low Range 2,084 KRW – 3,780 KRW

Fair value as of: Aug 13, 2026

From 15 valuation models · updated 23 days ago

Fair value updated Aug 13, 2026, revised from 3,290 KRW to 2,779 KRW (−15.5%) since Jul 22, 2026. Share price +9.4% over the past month.

What runs behind every stock

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

What matters now

  • The large discount to fair value meets weak quality (44/100). That raises the risk this is a value trap rather than a bargain.
  • The price is below even our cautious bear case (2,084 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.
  • A fairly wide model range (2,084 KRW to 3,780 KRW) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

3,888 KRW 994.00 KRW Fair Value 2,779 KRW Apr 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range 994.00 KRW – 3,888 KRW · fair‑value band 2,084 KRW – 3,780 KRW · the 1,174 KRW price screens below the 2,779 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Hyungkuk F&B Co Ltd (189980) currently trades at 1,174 KRW, while our model-based Fair Value estimate is 2,779 KRW, implying the stock looks roughly 57.8% undervalued today. The Quality Score stands at 44/100 (below-average quality), in the Consumer Defensive sector. Bull case: the Growth Earnings group reads highest at a median of 3,763 KRW per share, and 12 of the 14 models we run sit above the 1,174 KRW price. Bear case: the Economic Profit group reads lowest at 452.88 KRW, and 2 of the 14 models stay below the price. Evidence for this calculation is low.

Over the trailing twelve months, Hyungkuk F&B Co Ltd generated revenue of 95.9B KRW at a net margin of 6.9%. Revenue declined 14.3% year over year. It earns a return on equity of 6.8%. Net debt stands at 101B KRW. Fundamentals as of Aug 13, 2026

Our scenario range runs from 2,084 KRW (bear case) to 3,780 KRW (bull case); at 1,174 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 55% below its 52-week high and 5% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at −23% fair-value upside, at 137%, 189980 screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

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
Highest evidence
Residual Income best evidence 2,018 KRW 2,164 KRW 2,461 KRW 76
Owner Earnings 328.90 KRW 73
EPV 197.03 KRW 452.88 KRW 676.74 KRW 69
All 15 models by family
DCF Models
Owner Earnings 328.90 KRW 73
Earnings-Based
Graham-Dodd 1,316 KRW 4,632 KRW 6,232 KRW 64
Lynch FV 1,082 KRW 1,546 KRW 2,010 KRW 61
PEG = 1.0 1,082 KRW 1,546 KRW 2,010 KRW 57
EPV 197.03 KRW 452.88 KRW 676.74 KRW 69
Multiples
P/E Multiple 3,048 KRW 4,064 KRW 5,080 KRW 63
P/S Multiple 2,467 KRW 3,290 KRW 4,112 KRW 58
P/B Multiple 2,467 KRW 3,290 KRW 4,112 KRW 55
EV/EBIT 1,372 KRW 2,276 KRW 3,179 KRW 64
EV/EBITDA 2,441 KRW 3,700 KRW 4,960 KRW 66
EV/Revenue 596.33 KRW 1,425 KRW 2,254 KRW 50
Asset-Based
NCAV (Graham) 1,212 KRW 1,624 KRW 2,424 KRW 54
Economic Profit
Residual Income best evidence 2,018 KRW 2,164 KRW 2,461 KRW 76
ROIC Compounder 197.03 KRW 452.88 KRW 676.74 KRW 69
Growth Earnings
Growth-Adj P/E 2,634 KRW 3,763 KRW 4,892 KRW 67

Widest divergence: Growth Earnings (3,763 KRW) versus Economic Profit (452.88 KRW). Highest evidence: Residual Income (76).

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Key figures & financial health

P/S ratio 0.49 TTM
Net margin 7.8% FY2025
Return on equity 6.8% TTM
Return on assets (EBIT) 4.7% avg 5y
Operating margin 4.9% TTM
Revenue (TTM) 95.9B KRW TTM
More key figures
Growth
Revenue growth (YoY) −14.3% 3y avg +0.7%
EPS growth (YoY) −89.7%
Balance sheet & cash flow
Free cash flow −3.6B KRW FY2025
Net debt 101B KRW FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 44/100

Of which business quality 41 · Market factors (momentum, volatility) 32

Profitability 33
Margins and returns on capital today
Quality Growth 36
Are margins and returns improving?
Cashflow 22
Earnings quality: real cash, not paper profit
Fin. Strength 29
Balance sheet, leverage, solvency risk
Investment 71
Disciplined investing over empire-building
Low Volatility 70
Calm price path (market factor)
Momentum 18
Price trend over the last 3–12 months (market factor)
52W Momentum 12
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

HYUNGKUK F&B Co., Ltd. engages in the manufacture and sale of foods and beverages in South Korea. It offers concentrates, coffee, dessert, bakery, beverage concentrates, and other products, as well as capsule coffee under the FEAN brand name.

Full company description

HYUNGKUK F&B Co., Ltd. engages in the manufacture and sale of foods and beverages in South Korea. It offers concentrates, coffee, dessert, bakery, beverage concentrates, and other products, as well as capsule coffee under the FEAN brand name. The company also operates O Daily Life, a beverage brand; and restaurants under the Maratoki and Café Zamong brand names. HYUNGKUK F&B Co., Ltd. was founded in 2000 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

Hyungkuk F&B Co Ltd reported revenue of 99.4B KRW in FY2025 versus 71.5B KRW in FY2021, a compound +8.6%/yr. Reported net income was 7.8B KRW in FY2025, compounding +5.2%/yr from FY2021.

Growth Quality 52/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
99.4B KRW
Latest YoY
−3.2%
Avg. revenue growth/yr (3Y) 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.
+0.7%
Avg. revenue growth/yr (5Y) 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.
+14.5%
Avg. revenue growth/yr (11Y) 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.
+9.9%
Value creation/yr (5Y, in KRW) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year. 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.
+5.9% · in KRW
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share+5.9%
Dividend yield0.0%
Trend 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.5Y 5.9% vs 10Y 7.7%, steady
Operating margin (EBIT) 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.4.9% (2020) → 8.6% (2025) · rising
Worst earnings drop57% (2024) · in KRW
Revenue +8.6%/yr
FY21 71.5B KRW
FY22 97.3B KRW
FY23 101B KRW
FY24 103B KRW
FY25 99.4B KRW
Net income +5.2%/yr
FY21 6.3B KRW
FY22 11.9B KRW
FY23 8.6B KRW
FY24 5.1B KRW
FY25 7.8B KRW

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Cite: Fair Value Calculator (2026). "Hyungkuk F&B Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/189980

Peer Group

Beverages - Non-Alcoholic · 87 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 44 · Bottom 25%
Fair Value upside +137% · Top 25%
Return on equity (TTM) 7% · Below median
Return on assets 2% · Bottom 25%
Net margin (TTM) 7% · Below median
Operating margin (TTM) 5% · Below median
Revenue growth −14% · Bottom 25%
Dividend yield (TTM) 17.0% · Top 25%
Debt / equity 0.66× · Higher than 75% of peers

Valuation Multiples vs Beverages - Non-Alcoholic median · lower = cheaper

EV/EBITDA 3.7× · Cheaper than 75% of peers

Strength profile in five axes (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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE100 · sector 16
FUTURE0 · sector 43
PAST27 · sector 51
HEALTH67 · sector 97
DIVIDEND100 · sector 54

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

Alcohol

Similar stocks

10 more Beverages - Non-Alcoholic stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
The Coca-Cola Company KO $88.07 $36.57 −58%
PepsiCo, Inc PEP $139.72 $106.91 −23%
Monster Beverage Corporation MNST $46.70 $35.82 −23%
Nongfu Spring Co 9633 HK$42.54 HK$30.90 −27%
Coca-Cola Europacific Partners PLC CCEP €93.10 €70.86 −24%
Keurig Dr Pepper Inc KDP $32.18 $30.99 −4%
Coca-Cola FEMSA, S.A. KOF $112.58 $108.50 −4%
Coca-Cola HBC AG EEE €53.10 €46.77 −12%
Varun Beverages Limited VBL ₹431.00 ₹187.49 −56%
Eastroc Beverage (Group) Co 605499 ¥123.07 ¥107.57 −13%

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Frequently asked questions

Is Hyungkuk F&B Co Ltd (189980) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 2,779 KRW versus a price of 1,174 KRW, about +137% upside (undervalued).
What is the fair value of 189980?
Our model-based fair value for Hyungkuk F&B Co Ltd is 2,779 KRW (as of Aug 13, 2026), built from audited fundamentals. The current price: 1,174 KRW.
What is the quality score of 189980?
Hyungkuk F&B Co Ltd has a Quality Score of 44/100. 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 Hyungkuk F&B Co Ltd (189980)?
Our model-based price target is the fair value of 2,779 KRW (as of Aug 13, 2026) from 15 valuation models. Cautious scenario 2,084 KRW, optimistic scenario 3,780 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Hyungkuk F&B Co Ltd stock forecast for 2026?
Our models put fair value at 2,779 KRW, about +137% upside versus a price of 1,174 KRW (undervalued). Cautious scenario 2,084 KRW, optimistic scenario 3,780 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Hyungkuk F&B Co Ltd (189980)?
Hyungkuk F&B Co Ltd reported trailing-twelve-month revenue of about 95.9B KRW (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 189980?
The net profit margin of Hyungkuk F&B Co Ltd is about 6.9%, meaning it keeps roughly 6.9% of revenue as net income. Based on the latest reported figures.
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