Shindo Eng. Lab. Ltd (290520) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Shindo Eng. Lab. Ltd KRW 2,605, price KRW 1,580, upside +64.9%, quality 66 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Shindo Eng. Lab., Ltd. engages in the manufacture and sale of display equipment in South Korea.
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Shindo Eng. Lab., Ltd. engages in the manufacture and sale of display equipment in South Korea. Its products include OLED products, including 3D and 2D lamination, and roll lamination; LCD products, such as PI coater, rubbing M/C, spacer sprayer, assembly M/C, auto scribe, filling M/C, and end seal M/C; fuel cells; and other products comprising one drop filing, vacuum press, STA type, and tank type. The company was founded in 1989 and is headquartered in Siheung-si, South Korea.
Stock analysis
Shindo Eng. Lab. Ltd (290520) currently trades at 1,580 KRW, while our model-based Fair Value estimate is 2,605 KRW, implying the stock looks roughly 39.3% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 4,161 KRW per share, and 12 of the 15 models we run sit above the 1,580 KRW price.
Bear case: the Earnings-Based group reads lowest at 770.33 KRW, and 3 of the 15 models stay below the price. Evidence for this calculation is low.
Scenario range: 1,719 KRW (bear) to 3,060 KRW (bull), the price of 1,580 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 66/100 (solid quality), in the Industrials sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Shindo Eng. Lab. Ltd reported revenue of 31.9B KRW in FY2025 versus 39.8B KRW in FY2021, a compound −5.4%/yr. Reported net income was 1.8B KRW in FY2025, compounding +2.5%/yr from FY2021.
Key figures
Market cap 24.9B KRW (≈ $18.3M) · P/S ratio 0.73 · Net margin 5.7% · Return on equity 5.7% · Return on assets (EBIT) −3.8% · Operating margin −99.0% · Revenue (TTM) 32.6B KRW · Revenue growth (YoY) +111%.
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 53% below its 52-week high and 14% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −49% fair-value upside, at 65%, 290520 screens cheaper than that median.
Fair Value models
Bear 1,719 KRWFair Value 2,605 KRWBull 3,060 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.25/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+201.2%
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.
+13.5%
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.
−5.1%
Start year 2020 (pandemic)
Revenue growth 8 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.
−7.9%
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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.
−28.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year−28.0%
Dividend (yield on the price)0.0%
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.−9% → 6%
⚠ Revenue per share shrinking 18.8%/yr over ~6Y (margins eroding too) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
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 Industrial Machinery · 827 stocks
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Is Shindo Eng. Lab. Ltd (290520) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 2,605 KRW versus a price of 1,580 KRW, about +65% upside (undervalued).
What is the fair value of 290520?
Our model-based fair value for Shindo Eng. Lab. Ltd is 2,605 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 1,580 KRW.
What is the quality score of 290520?
Shindo Eng. Lab. Ltd has a Quality Score of 66/100. 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 Shindo Eng. Lab. Ltd (290520)?
Our model-based price target is the fair value of 2,605 KRW (as of Sep 24, 2026) from 15 valuation models. Cautious scenario 1,719 KRW, optimistic scenario 3,060 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Shindo Eng. Lab. Ltd stock forecast for 2026?
Our models put fair value at 2,605 KRW, about +65% upside versus a price of 1,580 KRW (undervalued). Cautious scenario 1,719 KRW, optimistic scenario 3,060 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Shindo Eng. Lab. Ltd (290520)?
Shindo Eng. Lab. Ltd reported trailing-twelve-month revenue of about 32.6B KRW (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of Shindo Eng. Lab. Ltd (290520)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Shindo Eng. Lab. Ltd it is 2,605 KRW per share (as of Sep 24, 2026), against a price of 1,580 KRW. It is the blended result of 15 valuation models (cash flow, earnings, asset, dividend).
Is Shindo Eng. Lab. Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 290520 trades below its calculated fair value: price 1,580 KRW, fair value 2,605 KRW, a gap of about +65% (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 290520?
No. The price is what the market pays today (1,580 KRW); the fair value is what the company's own numbers justify (2,605 KRW). For Shindo Eng. Lab. Ltd the two are 1,025 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Shindo Eng. Lab. Ltd worth?
The market values Shindo Eng. Lab. Ltd at about 24.9B KRW (market capitalisation, as of Sep 24, 2026). Per share that is 1,580 KRW; our models calculate a fair value of 2,605 KRW per share.
What do the bullish and bearish scenarios say about 290520?
Our models span a range for Shindo Eng. Lab. Ltd: cautious scenario 1,719 KRW, base 2,605 KRW, optimistic 3,060 KRW per share (as of Sep 24, 2026, price 1,580 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Shindo Eng. Lab. Ltd (290520)?
Balance-sheet figures for Shindo Eng. Lab. Ltd (as of Sep 24, 2026): return on equity 5.7%. They feed the Quality Score of 66/100, which measures business quality independently of the share price.
How far is 290520 from its 52-week high?
Shindo Eng. Lab. Ltd trades at 1,580 KRW, about 53% below its 52-week high of 3,330 KRW and 14% above the low of 1,390 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 2,605 KRW is for.
Which stocks are comparable to Shindo Eng. Lab. Ltd?
From the same area (Industrials) we also value GE Vernova Inc, SIE, Eaton Corporation, Parker-Hannifin Corporation, 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 Shindo Eng. Lab. Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price 1,580 KRW, calculated fair value 2,605 KRW (+65%), Quality Score 66/100, from 15 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 290520 calculated?
We run Shindo Eng. Lab. Ltd through 15 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 2,605 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 14.0 % above its aggregate fair value. Shindo Eng. Lab. Ltd currently trades 65 % 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 Shindo Eng. Lab. Ltd (290520)?
The closing price on Sep 23, 2026 was 1,580 KRW. Our model-based fair value is 2,605 KRW, about +65% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Shindo Eng. Lab. Ltd right now?
The price is below even our cautious bear case (1,719 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 (66/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of Shindo Eng. Lab. Ltd
How large is the market capitalisation of Shindo Eng. Lab. Ltd (290520)?
The market capitalisation of Shindo Eng. Lab. Ltd is 24.9B KRW (≈ $18.3M). 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 Shindo Eng. Lab. Ltd (290520)?
The price-to-sales ratio of Shindo Eng. Lab. Ltd is 0.73 (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 Shindo Eng. Lab. Ltd (290520)?
The net margin of Shindo Eng. Lab. Ltd is 5.7% (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 Shindo Eng. Lab. Ltd (290520)?
The return on equity (ROE) of Shindo Eng. Lab. Ltd is 5.7% (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 Shindo Eng. Lab. Ltd (290520)?
On an EBIT basis the return on assets of Shindo Eng. Lab. Ltd is −3.8% (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 Shindo Eng. Lab. Ltd (290520)?
The operating margin of Shindo Eng. Lab. Ltd is −99.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Shindo Eng. Lab. Ltd (290520)?
Revenue at Shindo Eng. Lab. Ltd is growing +111% versus a year earlier (3y avg +13.5%). 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 Shindo Eng. Lab. Ltd (290520)?
Earnings per share at Shindo Eng. Lab. Ltd are growing +2.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Shindo Eng. Lab. Ltd (290520) generate?
The free cash flow of Shindo Eng. Lab. Ltd is −5.2B KRW (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
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