Hyosung Heavy Industries Corp (298040) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of Hyosung Heavy Industries Corp stock KRW 1,010,250, price KRW 1,791,000, that is 43.6% below the price, quality 61 out of 100. Rating: strongly overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 3, 2026.
How to read this chart
60‑month range 43,845 KRW – 4,601,000 KRW · fair‑value band 520,931 KRW – 1,347,446 KRW · the 1,791,000 KRW price screens above the 1,010,250 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Nov 3, 2026.
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Hyosung Heavy Industries Corporation manufactures and sells heavy electrical equipment in South Korea.
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The company offers transmission and distribution products, such as power, oil-immersed distribution, cast-resin, and special transformers; shunt reactors, high voltage switchgears, medium/ low voltage switchgears, and high voltage direct current transmission systems; STATCOM, a power electronic based device to enhance the power system stability and quality; and turnkey solutions.
It also provides system and engineering solutions, including condition monitoring systems; asset health management, power system maintenance, power automation, and process automation solutions; and renewable energy products comprising energy storage systems, solar inverters, and wind turbines, as well as engineering, procurement, and construction services for solar energy projects.
In addition, the company offers high and low voltage motors, DC motors, general industrial and special-purpose motors, commercial generators, and emergency power generators; chemical equipment, filling stations, and industrial gas supplying systems; gear boxes, motors, and special gear units; and ARC, resistance, and special spot welding machines.
Further, it undertakes various construction projects, including housing, redevelopment and reconstruction, business and commercial facilities, civil engineering and environment, and SOC. Additionally, the company provides power conditioning systems and power management systems.
It also exports its products to North and Central America, Europe, Asia, and internationally. Hyosung Heavy Industries Corporation was founded in 1962 and is headquartered in Seoul, South Korea.
Stock analysis
Hyosung Heavy Industries Corp (298040) currently trades at 1,791,000 KRW, while our model-based Fair Value estimate is 1,010,250 KRW, 44% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 1,205,236 KRW per share, and 1 of the 26 models we run sit above the 1,791,000 KRW price.
Bear case: the Asset-Based group reads lowest at 160,455 KRW, and 25 of the 26 models stay below the price. Data coverage for this calculation is high.
Scenario range: 520,931 KRW (bear) to 1,347,446 KRW (bull), the price of 1,791,000 KRW sits above 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 61/100 (solid quality), in the Industrials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Hyosung Heavy Industries Corp reported revenue of 6.0T KRW in FY2025 versus 3.1T KRW in FY2021, a compound +17.8%/yr. Reported net income was 520B KRW in FY2025, compounding +73.3%/yr from FY2021.
Key figures
Market cap 16.9T KRW (≈ $12.4B) Large · P/E ratio 28.5 · P/S ratio 2.64 · EPS (TTM) 62,830 KRW · Dividend yield 0.4% · Net margin 9.1% · Return on equity 23.5% · Return on assets (EBIT) 5.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 62 out of 100 (low confidence).
What moves the price
The share trades about 61% below its 52-week high and 2% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −35% fair-value upside, at −44%, 298040 screens richer than that median.
Fair Value models
Bear520,931 KRWFair Value 1,010,250 KRWBull1,347,446 KRW
Price 1,791,000 KRW · Downside -43.6%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (46,993 KRW per share) are deliberately not added.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.Coverage ⓘCoverage = 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.90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+21.9%
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.
+19.4%
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.
+14.9%
Start year 2020 (pandemic)
Revenue growth 7 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.
+15.5%
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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.
≈ +71.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+71.2%
Dividend (yield on the price)0.4%
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.2% → 12%
⚠ Approximate: the rate leans on 2025, which sits 348% above its own trend.
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
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).
+35.5%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+17.1%
Yearly sales growth analysts expect, extended to five years.
After inflation (South Korea: IMF forecast 2.1% a year to 2030, 2.1% from 2016 to 2025) that is about +32.8% a year for the price and +14.7% for the forecasts.
AI conclusion: The business shows strength through expanded capacity for ultra-high-voltage breakers serving AI infrastructure demand and rising orders, while its main weak point is thin evidence of durable advantages alongside only modest returns.
Main risk: Stricter EU F-gas rules and California phase-out schedules could force faster and costlier shifts to SF6-free alternatives in circuit breakers and GIS, hitting margins on traditional products and requiring accelerated R&D spend.
Hyosung Heavy Industries has opened a dedicated export plant for ultra-high-voltage circuit breakers that doubles capacity for 420 kV models and higher to meet demand from AI infrastructure and grid projects. Orders continue to rise strongly despite some project delays. Our models see the shares as overvalued. Will the expansion deliver more lasting advantage from the power supercycle than current valuations reflect?
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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 · 560 stocks
Beats the industry median on 5/14 measures
Overall it trails its industry peers.
Valuation
Quality Score61 · Above median
Fair Value upside−43.6% · Below median
Profitability
Return on equity (12 months)23.5% · Top 25%
Return on assets7.2% · Top 25%
Net margin (12 months)9.1% · Above median
Operating margin (12 months)14.5% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)10.6% · Below median
Dividend yield (12 months)0.4% · Bottom 25%
Balance sheet
Debt / equity0.20× · Above median
Valuation Multiplesvs Electrical Equipment & Parts median · lower = cheaper
P/E (12 months)28.5× · Pricier than median
P/B7.19× · Priciest 25%
P/S (12 months)2.64× · Pricier than median
Price / free cash flow53.8× · Priciest 25%
EV/EBITDA18.8× · Pricier than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)53· sector 65
PAST (return on equity)94· sector 26
HEALTH (low debt)90· sector 97
DIVIDEND (yield)8· sector 23
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Hyosung Heavy Industries Corp Fair Value". https://www.fairvalue-calculator.com/stock/298040
Frequently asked questions
Is Hyosung Heavy Industries Corp (298040) overvalued or undervalued?
As of Nov 3, 2026, our model estimates a fair value of 1,010,250 KRW versus a price of 1,791,000 KRW, about 44% lower (overvalued).
What is the fair value of 298040?
Our model-based fair value for Hyosung Heavy Industries Corp is 1,010,250 KRW (as of Nov 3, 2026), built from audited fundamentals. The current price: 1,791,000 KRW.
What is the quality score of 298040?
Hyosung Heavy Industries Corp has a Quality Score of 61/100. 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 Hyosung Heavy Industries Corp (298040)?
Our model-based price target is the fair value of 1,010,250 KRW (as of Nov 3, 2026) from 26 valuation models. Cautious scenario 520,931 KRW, optimistic scenario 1,347,446 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Hyosung Heavy Industries Corp stock forecast for 2026?
Our models put fair value at 1,010,250 KRW, about 44% lower versus a price of 1,791,000 KRW (overvalued). Cautious scenario 520,931 KRW, optimistic scenario 1,347,446 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Hyosung Heavy Industries Corp (298040)?
Hyosung Heavy Industries Corp reported trailing-twelve-month revenue of about 6.4T KRW (latest available figure, as of Nov 3, 2026).
Does Hyosung Heavy Industries Corp pay a dividend?
Hyosung Heavy Industries Corp currently shows a dividend yield of 0.42% relative to its recent price (as of Nov 3, 2026).
What growth is priced into Hyosung Heavy Industries Corp (298040)?
For today's price to be fair in a discounted-cash-flow model, Hyosung Heavy Industries Corp would have to grow free cash flow by +35.5 % per year for five years (discount rate 12.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +14.9 % per year. As of Nov 3, 2026.
What discount rate (WACC) does the fair value of 298040 use?
Our models discount Hyosung Heavy Industries Corp at 12.1 %: a base by market capitalisation (large), damped by beta 2.17, 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 Hyosung Heavy Industries Corp that is +35.5 % per year a year over ten years, using the same discount rate (12.1 %) and the same formula as our fair value.
How much growth has Hyosung Heavy Industries Corp (298040) delivered so far?
Over the past 5 years revenue at Hyosung Heavy Industries Corp grew +14.9 % a year. The price currently implies +35.5 % 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 Hyosung Heavy Industries Corp (298040) growing?
The median revenue growth in the sector is +7.8 % a year. That is the yardstick for the growth priced into Hyosung Heavy Industries Corp (+35.5 % 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 Hyosung Heavy Industries Corp (298040)?
The free-cash-flow yield on the price is 1.89 %: that much free cash flow Hyosung Heavy Industries Corp produces per unit of market value. When it exceeds the discount rate of our models (12.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Hyosung Heavy Industries Corp (298040)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Hyosung Heavy Industries Corp it is 1,010,250 KRW per share (as of Nov 3, 2026), against a price of 1,791,000 KRW. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Hyosung Heavy Industries Corp stock overvalued or undervalued in 2026?
As of Nov 3, 2026, 298040 trades above its calculated fair value: price 1,791,000 KRW, fair value 1,010,250 KRW, a gap of about −44% (overvalued). 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 298040?
No. The price is what the market pays today (1,791,000 KRW); the fair value is what the company's own numbers justify (1,010,250 KRW). For Hyosung Heavy Industries Corp the two are 780,750 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Hyosung Heavy Industries Corp worth?
The market values Hyosung Heavy Industries Corp at about 16.9T KRW (market capitalisation, as of Nov 3, 2026). Per share that is 1,791,000 KRW; our models calculate a fair value of 1,010,250 KRW per share.
What do the bullish and bearish scenarios say about 298040?
Our models span a range for Hyosung Heavy Industries Corp: cautious scenario 520,931 KRW, base 1,010,250 KRW, optimistic 1,347,446 KRW per share (as of Nov 3, 2026, price 1,791,000 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 298040?
Hyosung Heavy Industries Corp trades at a price-to-earnings ratio of 28.5 (as of Nov 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 1,010,250 KRW is built from several models across several years. Median P/E at fiscal year-end, 7 fiscal years (2018 to 2025), reported earnings, FY2025 ex one-offs: 18.9. Other multiples: P/B 7.2, P/S 2.6, EV/EBITDA 18.8.
How solid is the balance sheet of Hyosung Heavy Industries Corp (298040)?
Balance-sheet figures for Hyosung Heavy Industries Corp (as of Nov 3, 2026): return on equity 23.5%, debt of 0.20 per unit of equity. They feed the Quality Score of 61/100, which measures business quality independently of the share price.
How far is 298040 from its 52-week high?
Hyosung Heavy Industries Corp trades at 1,791,000 KRW, about 61% below its 52-week high of 4,601,000 KRW and 2% above the low of 1,749,500 KRW (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of 1,010,250 KRW is for.
Which stocks are comparable to Hyosung Heavy Industries Corp?
From the same area (Industrials) we also value Contemporary Amperex Technology Co, ABB Ltd, Vertiv Holdings, Delta Electronics (Thailand) Public Company, 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 Hyosung Heavy Industries Corp stock attractive at the current price?
The data as of Nov 3, 2026: price 1,791,000 KRW, calculated fair value 1,010,250 KRW (−44%), Quality Score 61/100, from 26 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 298040 calculated?
We run Hyosung Heavy Industries Corp through 26 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 1,010,250 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 15.5% above its aggregate fair value. Hyosung Heavy Industries Corp itself currently trades above fair value. 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 Hyosung Heavy Industries Corp (298040)?
The closing price on Nov 5, 2026 was 1,791,000 KRW. Our model-based fair value is 1,010,250 KRW, about 44% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Hyosung Heavy Industries Corp right now?
The price sits above even our optimistic bull case (1,347,446 KRW). The favourable scenario is already priced in. Solid but not exceptional quality (61/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (520,931 KRW to 1,347,446 KRW) leaves room in how you read the outcome.
Key figures of Hyosung Heavy Industries Corp
How large is the market capitalisation of Hyosung Heavy Industries Corp (298040)?
The market capitalisation of Hyosung Heavy Industries Corp is 16.9T KRW (≈ $12.4B). 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 Hyosung Heavy Industries Corp (298040)?
The price-to-sales ratio of Hyosung Heavy Industries Corp is 2.64 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Hyosung Heavy Industries Corp (298040)?
Earnings per share at Hyosung Heavy Industries Corp are 62,830 KRW (price ÷ EPS = P/E 28.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Hyosung Heavy Industries Corp (298040)?
The dividend yield of Hyosung Heavy Industries Corp is 0.4% (payout 11.9%). 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 Hyosung Heavy Industries Corp (298040)?
The net margin of Hyosung Heavy Industries Corp is 9.1% (last twelve months). 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 Hyosung Heavy Industries Corp (298040)?
The return on equity (ROE) of Hyosung Heavy Industries Corp is 23.5% (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 Hyosung Heavy Industries Corp (298040)?
On an EBIT basis the return on assets of Hyosung Heavy Industries Corp 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 Hyosung Heavy Industries Corp (298040)?
The operating margin of Hyosung Heavy Industries Corp is 14.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Hyosung Heavy Industries Corp (298040)?
Revenue at Hyosung Heavy Industries Corp is growing +10.6% versus a year earlier (3y avg +19.4%). 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 Hyosung Heavy Industries Corp (298040)?
Earnings per share at Hyosung Heavy Industries Corp are growing +86.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Hyosung Heavy Industries Corp (298040) carry?
The net debt of Hyosung Heavy Industries Corp is 586B KRW (fiscal year 2025, ≈ 1.9 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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Broad data
Nov 3, 2026