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Kangdong C&L Co (198440) Fair Value & Analysis

Basic Materials · KR · Market cap 77.3B KRW

KC Kangdong C&L Co 198440 · KQ
Price1,162 KRW
Fair Value855.62 KRW
Upside-26.4%
Quality37/100
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Weak Growth
Thin margins · 0.8% net margin
Low debt · generates free cash flow
Trails peers (3/10)
Narrow moat 19/100
Evidence: High Range 430.48 KRW – 1,035 KRW Share as image

Fair value as of: Jul 20, 2026

From 20 valuation models · updated 20 days ago

Fair value updated Jul 20, 2026, revised from 850.34 KRW to 855.62 KRW (+0.6%) since Jul 7, 2026. Share price −39.4% over the past month.

Below-average quality, and screening another 26% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (1,035 KRW). The favourable scenario is already priced in.
  • Weak quality (37/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • A fairly wide model range (430.48 KRW to 1,035 KRW) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

5,435 KRW 964.00 KRW Fair Value 855.62 KRW Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 20, 2026.

How to read this chart

60‑month range 964.00 KRW – 5,435 KRW · fair‑value band 430.48 KRW – 1,035 KRW · the 1,162 KRW price screens above the 855.62 KRW fair value. Dashed = 300-day average. As of Jul 20, 2026.

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Analysis

Kangdong C&L Co (198440) currently trades at 1,162 KRW, while our model-based Fair Value estimate is 855.62 KRW, implying the stock looks roughly 26.4% overvalued today. The Quality Score stands at 37/100 (below-average quality), in the Basic Materials 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, Kangdong C&L Co generated revenue of 72.8B KRW at a net margin of 0.8%. Revenue grew 8.6% year over year. It earns a return on equity of 0.4%. Net debt stands at 58.3B KRW. Fundamentals as of Jul 20, 2026

Our scenario range runs from 430.48 KRW (bear case) to 1,035 KRW (bull case); at 1,162 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 20% below its 52-week high and 28% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -59% fair-value upside, at -26%, 198440 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.

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
Growth DCF 21.39 KRW 166.25 KRW 414.17 KRW 80
Residual Income 1,485 KRW 1,360 KRW 953.00 KRW 76
Rev-Margin DCF 393.47 KRW 868.41 KRW 1,439 KRW 74
All 20 models by family
DCF Models
FCF DCF 3.70 KRW 152.94 KRW 429.50 KRW 38
Owner Earnings 867.02 KRW 1,355 KRW 2,259 KRW 31
5Y Revenue Exit 393.47 KRW 859.49 KRW 1,539 KRW 39
5Y EBITDA Exit 811.27 KRW 1,583 KRW 2,605 KRW 41
10Y Revenue Exit 208.20 KRW 542.44 KRW 911.60 KRW 36
10Y EBITDA Exit 490.95 KRW 989.88 KRW 1,537 KRW 37
Earnings-Based
Graham-Dodd 73.22 KRW 89.71 KRW 100.99 KRW 54
EPV 547.54 KRW 701.58 KRW 836.36 KRW 59
Multiples
P/E Multiple 137.29 KRW 183.06 KRW 228.82 KRW 63
P/S Multiple 137.29 KRW 183.06 KRW 228.82 KRW 58
P/B Multiple 137.29 KRW 183.06 KRW 228.82 KRW 55
EV/EBIT 899.84 KRW 1,325 KRW 1,751 KRW 53
EV/EBITDA 1,603 KRW 2,263 KRW 2,922 KRW 54
EV/Revenue 729.64 KRW 1,204 KRW 1,678 KRW 43
Asset-Based
NCAV (Graham) 1,104 KRW 1,480 KRW 2,208 KRW 50
Growth DCF
Growth DCF 21.39 KRW 166.25 KRW 414.17 KRW 80
Rev-Margin DCF 393.47 KRW 868.41 KRW 1,439 KRW 74
Economic Profit
Residual Income 1,485 KRW 1,360 KRW 953.00 KRW 76
ROIC Compounder 547.54 KRW 701.58 KRW 836.36 KRW 72
Growth Earnings
Growth-Adj P/E 97.81 KRW 139.73 KRW 181.65 KRW 68

Widest divergence: Asset-Based (1,480 KRW) versus Earnings-Based (89.71 KRW). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 72.8B KRW
Revenue growth (YoY) +8.6%
Net margin 0.8%
Return on equity 0.4%
Free cash flow 2.4B KRW FY2025
Operating margin -6.3%
More key figures
EPS growth (YoY) -86.6%
Net debt 58.3B KRW FY2025

Figures from reported company fundamentals · as of Jul 20, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 37/100

Of which business quality 38 · Market factors (momentum, volatility) 43

Profitability 12
Margins and returns on capital today
Quality Growth 62
Are margins and returns improving?
Cashflow 50
Earnings quality: real cash, not paper profit
Fin. Strength 27
Balance sheet, leverage, solvency risk
Investment 55
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 52
Price trend over the last 3–12 months (market factor)
52W Momentum 18
Distance to the 52-week high (market factor)
Net Issuance 40
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

Kangdong C&L Co., Ltd. manufactures and sells cement in South Korea. It offers Portland, blast furnace slag, special, low heat, fly ash, and refined ash cement, as well as ready-mix concrete. The company was founded in 1962 and is headquartered in Jangseong-eup, South Korea.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Kangdong C&L Co reported revenue of 71.8B KRW in FY2025 versus 65.7B KRW in FY2021, a compound +2.3%/yr. Reported net income was 656M KRW in FY2025, compounding −38.7%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
71.8B KRW
Latest YoY
+51.6%
Avg. 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.
+0.9%
Avg. 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.
+0.5%
Avg. growth/yr (8Y) 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.
−2.5%
Revenue +2.3%/yr
FY21 65.7B KRW
FY22 69.9B KRW
FY23 50.5B KRW
FY24 47.4B KRW
FY25 71.8B KRW
Net income −38.7%/yr
FY21 4.6B KRW
FY22 −7.8B KRW
FY23 −15.8B KRW
FY24 −7.7B KRW
FY25 656M KRW

198440 screens 26% overvalued. Compare with CRH plc →

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Cite: Fair Value Calculator (2026). "Kangdong C&L Co Fair Value". https://www.fairvalue-calculator.com/stock/198440

Peer Group

Building Materials · 253 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 37 · Bottom 25%
Fair Value upside −26% · Below median
Return on equity (TTM) 0% · Below median
Return on assets 1% · Below median
Net margin (TTM) 1% · Below median
Operating margin (TTM) -6% · Bottom 25%
Revenue growth 9% · Above median
Debt / equity 0.19× · Higher than median

Valuation Multiples vs Building Materials median · lower = cheaper

P/FCF 0.0× · Cheaper than 75% of peers
EV/EBITDA 1.4× · 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 27
FUTURE 43 · sector 2
PAST 2 · sector 15
HEALTH 91 · sector 92
DIVIDEND 0 · sector 42

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 Building Materials stocks, each showing price versus our Fair Value estimate (as of Jul 20, 2026).

Stock Price Fair Value vs Fair Value
CRH plc CRH $102.92 $70.57 -31%
UltraTech Cement Limited ULTRACEMCO ₹11,711 ₹4,719 -60%
China Jushi Co 600176 ¥54.52 ¥13.95 -74%
Grasim Industries Limited GRASIM ₹3,073 ₹1,245 -59%
CEMEX, S.A. CEMEXCPO 21.71 MXN 15.42 MXN -29%
Anhui Conch Cement Company 600585 ¥16.99 ¥26.14 +54%
Ambuja Cements Limited AMBUJACEM ₹435.25 ₹227.96 -48%
Shree Cement Limited SHREECEM ₹26,930 ₹8,215 -69%
TCC Group 1101B 43.70 TWD 10.48 TWD -76%
Taiwan Glass Ind. Corp 1802 53.30 TWD 13.98 TWD -74%

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Frequently asked questions

Is Kangdong C&L Co (198440) overvalued or undervalued?
As of Jul 20, 2026, our model estimates a fair value of 855.62 KRW versus a price of 1,162 KRW, about −26% (overvalued).
What is the fair value of 198440?
Our model-based fair value for Kangdong C&L Co is 855.62 KRW (as of Jul 20, 2026), built from audited fundamentals. The current price is 1,162 KRW.
What is the quality score of 198440?
Kangdong C&L Co has a Quality Score of 37/100. 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 Kangdong C&L Co (198440)?
Kangdong C&L Co reported trailing-twelve-month revenue of about 72.8B KRW (latest available figure, as of Jul 20, 2026).
What is the net profit margin of 198440?
The net profit margin of Kangdong C&L Co is about 0.8%, meaning it keeps roughly 0.8% of revenue as net income. Based on the latest reported figures.

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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