Bokwang Industry Co Ltd (225530) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Bokwang Industry Co Ltd KRW 3,320, price KRW 2,075, upside +60.0%, quality 50 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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HC BoKwang Industry Co.,Ltd manufactures and sells aggregates, ascons, and ready mixed concrete in South Korea. HC BoKwang Industry Co.,Ltd was formerly known as Bokwang Industry Co., Ltd. and changed its name to HC BoKwang Industry Co.,Ltd in July 2025. The company was founded in 1998 and is headquartered in Daegu, South Korea.
Stock analysis
Bokwang Industry Co Ltd (225530) currently trades at 2,075 KRW, while our model-based Fair Value estimate is 3,320 KRW, implying the stock looks roughly 37.5% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of 2,484 KRW per share, and 6 of the 11 models we run sit above the 2,075 KRW price.
Bear case: the Multiples group reads lowest at 805.85 KRW, and 5 of the 11 models stay below the price. Evidence for this calculation is low.
Scenario range: 2,758 KRW (bear) to 3,770 KRW (bull), the price of 2,075 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 50/100 (solid quality), in the Basic Materials sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Bokwang Industry Co Ltd reported revenue of 38.5B KRW in FY2025 versus 71.9B KRW in FY2021, a compound −14.5%/yr. Reported net income was −2.5B KRW in FY2025.
Key figures
Market cap 75.4B KRW (≈ $52.8M) · P/S ratio 1.32 · Dividend yield 2.4% · Net margin −6.5% · Return on equity 9.1% · Return on assets (EBIT) 6.5% · Operating margin −19.7% · Revenue (TTM) 55.4B KRW.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (medium confidence).
What moves the price
The share trades about 51% below its 52-week high and 20% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −40% fair-value upside, at 60%, 225530 screens cheaper than that median.
Fair Value models
Bear 2,758 KRWFair Value 3,320 KRWBull 3,770 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.40/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−39.7%
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.
−23.9%
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.
−7.5%
Start year 2020 (pandemic). Over 10 years: −0.4% a year
Revenue growth 11 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%
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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.
16.9% (2020) → −12.6% (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
not computed
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+1.1%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (South Korea: IMF forecast 2.1% a year to 2030, 2.1% from 2016 to 2025) that is about −0.9% a year for the price.
Compare Bokwang Industry Co Ltd with another stock
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.Specialty Chemicals · 713 stocks
Beats the industry median on 7/10 measures
Overall it ranks above its industry peers.
Valuation
Quality Score50 · Below median
Fair Value upside+60% · Top 25%
Profitability
Return on equity (TTM)9% · Above median
Return on assets5% · Above median
Net margin (TTM)11% · Top 25%
Operating margin (TTM)−20% · Bottom 25%
Growth and dividend
Revenue growth−5% · Below median
Dividend yield (TTM)2.4% · Above median
Balance sheet
Debt / equity0.05× · Below median
Valuation Multiplesvs Specialty Chemicals median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Bokwang Industry Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/225530
Frequently asked questions
Is Bokwang Industry Co Ltd (225530) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 3,320 KRW versus a price of 2,075 KRW, about +60% upside (undervalued).
What is the fair value of 225530?
Our model-based fair value for Bokwang Industry Co Ltd is 3,320 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 2,075 KRW.
What is the quality score of 225530?
Bokwang Industry Co Ltd has a Quality Score of 50/100. 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 Bokwang Industry Co Ltd (225530)?
Our model-based price target is the fair value of 3,320 KRW (as of Sep 24, 2026) from 11 valuation models. Cautious scenario 2,758 KRW, optimistic scenario 3,770 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Bokwang Industry Co Ltd stock forecast for 2026?
Our models put fair value at 3,320 KRW, about +60% upside versus a price of 2,075 KRW (undervalued). Cautious scenario 2,758 KRW, optimistic scenario 3,770 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Bokwang Industry Co Ltd (225530)?
Bokwang Industry Co Ltd reported trailing-twelve-month revenue of about 55.4B KRW (latest available figure, as of Sep 24, 2026).
Does Bokwang Industry Co Ltd pay a dividend?
Bokwang Industry Co Ltd currently shows a dividend yield of about 2.41% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Bokwang Industry Co Ltd (225530)?
For today's price to be fair in a discounted-cash-flow model, Bokwang Industry Co Ltd would have to grow free cash flow by +1.1 % per year for five years (discount rate 13.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -7.5 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 225530 use?
Our models discount Bokwang Industry Co Ltd at 13.3 %: a base by market capitalisation (micro), damped by beta 1.04, country premium for South Korea. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Bokwang Industry Co Ltd that is +1.1 % per year a year over ten years, using the same discount rate (13.3 %) and the same formula as our fair value.
How much growth has Bokwang Industry Co Ltd (225530) delivered so far?
Over the past 5 years revenue at Bokwang Industry Co Ltd grew -7.5 % a year. The price currently implies +1.1 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Bokwang Industry Co Ltd (225530) growing?
The median revenue growth in the sector is +1.8 % a year. That is the yardstick for the growth priced into Bokwang Industry Co Ltd (+1.1 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Bokwang Industry Co Ltd (225530)?
The free-cash-flow yield on the price is 16.15 %: that much free cash flow Bokwang Industry Co Ltd produces per unit of market value. When it exceeds the discount rate of our models (13.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Bokwang Industry Co Ltd (225530)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Bokwang Industry Co Ltd it is 3,320 KRW per share (as of Sep 24, 2026), against a price of 2,075 KRW. It is the blended result of 11 valuation models (cash flow, earnings, asset, dividend).
Is Bokwang Industry Co Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 225530 trades below its calculated fair value: price 2,075 KRW, fair value 3,320 KRW, a gap of about +60% (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 225530?
No. The price is what the market pays today (2,075 KRW); the fair value is what the company's own numbers justify (3,320 KRW). For Bokwang Industry Co Ltd the two are 1,245 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Bokwang Industry Co Ltd worth?
The market values Bokwang Industry Co Ltd at about 75.4B KRW (market capitalisation, as of Sep 24, 2026). Per share that is 2,075 KRW; our models calculate a fair value of 3,320 KRW per share.
What do the bullish and bearish scenarios say about 225530?
Our models span a range for Bokwang Industry Co Ltd: cautious scenario 2,758 KRW, base 3,320 KRW, optimistic 3,770 KRW per share (as of Sep 24, 2026, price 2,075 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Bokwang Industry Co Ltd (225530)?
Balance-sheet figures for Bokwang Industry Co Ltd (as of Sep 24, 2026): return on equity 9.1%, debt of 0.05 per unit of equity. They feed the Quality Score of 50/100, which measures business quality independently of the share price.
How far is 225530 from its 52-week high?
Bokwang Industry Co Ltd trades at 2,075 KRW, about 51% below its 52-week high of 4,260 KRW and 20% above the low of 1,725 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 3,320 KRW is for.
Which stocks are comparable to Bokwang Industry Co Ltd?
From the same area (Basic Materials) we also value Linde plc, The Sherwin-Williams Company, Ecolab Inc, Air Products and Chemicals, Inc, 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 Bokwang Industry Co Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price 2,075 KRW, calculated fair value 3,320 KRW (+60%), Quality Score 50/100, from 11 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 225530 calculated?
We run Bokwang Industry Co Ltd through 11 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 3,320 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 13.2 % above its aggregate fair value. Bokwang Industry Co Ltd currently trades 60 % 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 Bokwang Industry Co Ltd (225530)?
The closing price on Sep 23, 2026 was 2,075 KRW. Our model-based fair value is 3,320 KRW, about +60% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Bokwang Industry Co Ltd right now?
The price is below even our cautious bear case (2,758 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. Solid quality (50/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of Bokwang Industry Co Ltd
How large is the market capitalisation of Bokwang Industry Co Ltd (225530)?
The market capitalisation of Bokwang Industry Co Ltd is 75.4B KRW (≈ $52.8M). 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 Bokwang Industry Co Ltd (225530)?
The price-to-sales ratio of Bokwang Industry Co Ltd is 1.32 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the dividend yield of Bokwang Industry Co Ltd (225530)?
The dividend yield of Bokwang Industry Co Ltd is 2.4%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Bokwang Industry Co Ltd (225530)?
The net margin of Bokwang Industry Co Ltd is −6.5% (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 Bokwang Industry Co Ltd (225530)?
The return on equity (ROE) of Bokwang Industry Co Ltd is 9.1% (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 Bokwang Industry Co Ltd (225530)?
On an EBIT basis the return on assets of Bokwang Industry Co Ltd is 6.5% (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 Bokwang Industry Co Ltd (225530)?
The operating margin of Bokwang Industry Co Ltd is −19.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Bokwang Industry Co Ltd (225530)?
Revenue at Bokwang Industry Co Ltd is growing −4.6% versus a year earlier (3y avg −23.9%). 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 Bokwang Industry Co Ltd (225530)?
Earnings per share at Bokwang Industry Co Ltd are growing −91.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Bokwang Industry Co Ltd (225530) carry?
The net debt of Bokwang Industry Co Ltd is 34.8B KRW (fiscal year 2025, ≈ 2.9 yrs of FCF). 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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