DL E&C Co Ltd (375500) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of DL E&C Co Ltd stock KRW 140,147, price KRW 51,500, upside +172.1%, quality 56 out of 100. Rating: strongly undervalued. Calculated from audited financials with 24 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 6, 2026.
How to read this chart
60‑month range 27,603 KRW – 102,500 KRW · fair‑value band 105,504 KRW – 182,108 KRW · the 51,500 KRW price screens below the 140,147 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 6, 2026.
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DL E&C Co.,Ltd., a construction company, provides engineering, procurement, and construction solutions in South Korea.
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The company undertakes various plant works in refinery/gas, petrochemical, energy, industrial facilities, environment, and other sectors; and offers civil works in road/bridge, port/water resources, and railroad/metro/tunnel.
It also builds office/commercial, cultural/sports, hotel/resort, education/healthcare, and logistics centers; and provides housing works, such as apartments, and residential and commercial; and redevelopment, reconstruction, and remodeling services.
DL E&C Co.,Ltd. was incorporated in 1939 and is headquartered in Seoul, South Korea.
Stock analysis
DL E&C Co Ltd (375500) currently trades at 51,500 KRW, while our model-based Fair Value estimate is 140,147 KRW, implying the stock looks roughly 63% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 195,395 KRW per share, and 21 of the 24 models we run sit above the 51,500 KRW price.
Bear case: the Asset-Based group reads lowest at 32,549 KRW, and 3 of the 24 models stay below the price. Data coverage for this calculation is high.
Scenario range: 105,504 KRW (bear) to 182,108 KRW (bull), the price of 51,500 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 56/100 (solid quality), in the Industrials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
DL E&C Co Ltd reported revenue of 7.4T KRW in FY2025 versus 7.6T KRW in FY2021, a compound −0.8%/yr. Reported net income was 370B KRW in FY2025, compounding −10.5%/yr from FY2021.
Key figures
Market cap 2.0T KRW (≈ $1.4B) Small · P/E ratio 3.5 · P/S ratio 0.28 · EPS (TTM) 14,223 KRW · Dividend yield 1.7% · Net margin 8.7% · Return on equity 11.9% · Return on assets (EBIT) 5.2% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 43 out of 100 (low confidence).
What moves the price
Analysts expect earnings well below the last reported figure (earnings in transition, for example expiring patents or contracts); a fair value that looks fair on trailing earnings may then be too optimistic.
The share trades about 50% below its 52-week high and 35% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −42% fair-value upside, at 172%, 375500 screens cheaper than that median.
Fair Value models
Bear105,504 KRWFair Value 140,147 KRWBull182,108 KRW
Price 51,500 KRW · Upside +172.1%
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 (11,397 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.59/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
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. Basis: EBIT basis. 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.
≈ −26.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year−27.9%
Dividend (yield on the price)1.7%
Profit margin 2021 to 2024 ⓘ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.12% → 3%
⚠ Rate on operating basis: 2025 sits 70% above its own trend.
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less 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).
−12.6%
The company could shrink this much every year for the next five years and today's price would still be justified.
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.
+0.9%
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 −14.4% a year for the price and −1.2% for the forecasts.
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.Engineering & Construction · 791 stocks
Beats the industry median on 12/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score56 · Above median
Fair Value upside+172.1% · Top 25%
Profitability
Return on equity (12 months)11.9% · Above median
Return on assets3.8% · Above median
Net margin (12 months)8.7% · Top 25%
Operating margin (12 months)8.4% · Above median
Growth and dividend
Revenue growth (quarter YoY)−9.5% · Below median
Dividend yield (12 months)1.7% · Below median
Balance sheet
Debt / equity0.09× · Below median
Valuation Multiplesvs Engineering & Construction median · lower = cheaper
P/E (12 months)3.5× · Cheapest 25%
P/B0.38× · Cheapest 25%
P/S (12 months)0.28× · Cheapest 25%
Price / free cash flow (fiscal year)9.5× · Cheaper than median
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). "DL E&C Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/375500
Frequently asked questions
Is DL E&C Co Ltd (375500) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of 140,147 KRW versus a price of 51,500 KRW, about +172% upside (undervalued).
What is the fair value of 375500?
Our model-based fair value for DL E&C Co Ltd is 140,147 KRW (as of Nov 6, 2026), built from audited fundamentals. The current price: 51,500 KRW.
What is the quality score of 375500?
DL E&C Co Ltd has a Quality Score of 56/100. 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 DL E&C Co Ltd (375500)?
Our model-based price target is the fair value of 140,147 KRW (as of Nov 6, 2026) from 24 valuation models. Cautious scenario 105,504 KRW, optimistic scenario 182,108 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the DL E&C Co Ltd stock forecast for 2026?
Our models put fair value at 140,147 KRW, about +172% upside versus a price of 51,500 KRW (undervalued). Cautious scenario 105,504 KRW, optimistic scenario 182,108 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of DL E&C Co Ltd (375500)?
DL E&C Co Ltd reported trailing-twelve-month revenue of about 7.1T KRW (latest available figure, as of Nov 6, 2026).
Does DL E&C Co Ltd pay a dividend?
DL E&C Co Ltd currently shows a dividend yield of 1.73% relative to its recent price (as of Nov 6, 2026).
How much is the dividend of DL E&C Co Ltd (375500) and when is the ex-dividend date?
DL E&C Co Ltd pays a dividend of 890.00 KRW per share a year, a dividend yield of 1.7%. The last ex-dividend date was Mar 30, 2026. The payout ratio is 6.3% of earnings. Free cash flow covers the dividend 6.32 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
What growth is priced into DL E&C Co Ltd (375500)?
For today's price to be fair in a discounted-cash-flow model, DL E&C Co Ltd would have to grow free cash flow by -12.6 % per year for five years (discount rate 10.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 4 years revenue grew -0.8 % per year. As of Nov 6, 2026.
What discount rate (WACC) does the fair value of 375500 use?
Our models discount DL E&C Co Ltd at 10.9 %: a base by market capitalisation (small), damped by beta 0.75, 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 DL E&C Co Ltd that is -12.6 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (10.9 %) and the same formula as our fair value.
How much growth has DL E&C Co Ltd (375500) delivered so far?
Over the past 4 years revenue at DL E&C Co Ltd grew -0.8 % a year. The price currently implies free-cash-flow growth of -12.6 % per 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 DL E&C Co Ltd (375500) growing?
The median revenue growth in the sector is +7.8 % a year. That is the yardstick for the growth priced into DL E&C Co Ltd (-12.6 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of DL E&C Co Ltd (375500)?
The free-cash-flow yield on the price is 10.59 %: that much free cash flow DL E&C Co Ltd produces per unit of market value. When it exceeds the discount rate of our models (10.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of DL E&C Co Ltd (375500)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For DL E&C Co Ltd it is 140,147 KRW per share (as of Nov 6, 2026), against a price of 51,500 KRW. It is the blended result of 24 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is DL E&C Co Ltd stock overvalued or undervalued in 2026?
As of Nov 6, 2026, 375500 trades below its calculated fair value: price 51,500 KRW, fair value 140,147 KRW, a gap of about +172% (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 375500?
No. The price is what the market pays today (51,500 KRW); the fair value is what the company's own numbers justify (140,147 KRW). For DL E&C Co Ltd the two are 88,647 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is DL E&C Co Ltd worth?
The market values DL E&C Co Ltd at about 2.0T KRW (market capitalisation, as of Nov 6, 2026). Per share that is 51,500 KRW; our models calculate a fair value of 140,147 KRW per share.
What do the bullish and bearish scenarios say about 375500?
Our models span a range for DL E&C Co Ltd: cautious scenario 105,504 KRW, base 140,147 KRW, optimistic 182,108 KRW per share (as of Nov 6, 2026, price 51,500 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 375500?
DL E&C Co Ltd trades at a price-to-earnings ratio of 3.5 (as of Nov 6, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 140,147 KRW is built from several models across several years. Other multiples: P/B 0.4, P/S 0.3, EV/EBITDA 1.6.
How solid is the balance sheet of DL E&C Co Ltd (375500)?
Balance-sheet figures for DL E&C Co Ltd (as of Nov 6, 2026): return on equity 11.9%, debt of 0.09 per unit of equity. They feed the Quality Score of 56/100, which measures business quality independently of the share price.
How far is 375500 from its 52-week high?
DL E&C Co Ltd trades at 51,500 KRW, about 50% below its 52-week high of 102,500 KRW and 35% above the low of 38,177 KRW (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 140,147 KRW is for.
Which stocks are comparable to DL E&C Co Ltd?
From the same area (Industrials) we also value Quanta Services, Inc, Vinci SA, Larsen & Toubro Limited, Comfort Systems USA, 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 DL E&C Co Ltd stock attractive at the current price?
The data as of Nov 6, 2026: price 51,500 KRW, calculated fair value 140,147 KRW (+172%), Quality Score 56/100, from 24 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 375500 calculated?
We run DL E&C Co Ltd through 24 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 140,147 KRW builds on their evidence-weighted average, 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 13.0% above its aggregate fair value. DL E&C Co Ltd currently trades 63% 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 DL E&C Co Ltd (375500)?
The closing price on Nov 6, 2026 was 51,500 KRW. Our model-based fair value is 140,147 KRW, about +172% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with DL E&C Co Ltd right now?
The price is below even our cautious bear case (105,504 KRW). The market is more pessimistic than our downside scenario. Solid quality (56/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of DL E&C Co Ltd
How large is the market capitalisation of DL E&C Co Ltd (375500)?
The market capitalisation of DL E&C Co Ltd is 2.0T KRW (≈ $1.4B). 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 DL E&C Co Ltd (375500)?
The price-to-sales ratio of DL E&C Co Ltd is 0.28 (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 DL E&C Co Ltd (375500)?
Earnings per share at DL E&C Co Ltd are 14,223 KRW (price ÷ EPS = P/E 3.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of DL E&C Co Ltd (375500)?
The dividend yield of DL E&C Co Ltd is 1.7% (payout 6.3%). 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 DL E&C Co Ltd (375500)?
The net margin of DL E&C Co Ltd is 8.7% (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 DL E&C Co Ltd (375500)?
The return on equity (ROE) of DL E&C Co Ltd is 11.9% (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 DL E&C Co Ltd (375500)?
On an EBIT basis the return on assets of DL E&C Co Ltd is 5.2% (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 DL E&C Co Ltd (375500)?
The operating margin of DL E&C Co Ltd is 8.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at DL E&C Co Ltd (375500)?
Revenue at DL E&C Co Ltd is growing −9.5% versus a year earlier (3y avg −0.4%). 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 DL E&C Co Ltd (375500)?
Earnings per share at DL E&C Co Ltd are growing +13.4% versus a year earlier. How much earnings per share grew versus a year earlier.
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Broad data
Nov 6, 2026