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Hwaseung R&A Co. Ltd. (378850) fair value: what the stock is really worth

As of Sep 23, 2026: fair value of Hwaseung R&A Co. Ltd. KRW 8,535, price KRW 2,845, upside +200.0%, quality 52 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? Yes
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Consumer Cyclical · KR

HR Thin data Sep 24, 2026

Hwaseung R&A Co. Ltd.

378850 · KO

Clearly undervaluedStrong Fair Value upside, but quality is only moderate.

✓Fair value 8,535 KRW · Strongly undervalued (+200%)
!Quality 52/100
✓Healthy Growth (revenue 3y +2.8 %/yr)
!Thin margins · 3.3% net margin (TTM)
✓Low debt · generates free cash flow
·2.64% dividend yield
✓Ranks above peers (7/10)
!Narrow moat 39/100
!Evidence only low, so the estimate is less certain

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

6,283 KRW 2,627 KRW Fair Value 8,535 KRW Apr 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

60‑month range 2,627 KRW – 6,283 KRW · fair‑value band 5,648 KRW – 11,422 KRW · the 2,845 KRW price screens below the 8,535 KRW fair value. Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

Hwaseung R&A Co., Ltd. manufactures and sells automobile parts in South Korea, China, the United States, Mexico, Brazil, India, Turkey, Vietnam, and Germany.

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Hwaseung R&A Co., Ltd. manufactures and sells automobile parts in South Korea, China, the United States, Mexico, Brazil, India, Turkey, Vietnam, and Germany. The company offers weather strip products, including front and rear glass molding, glass run, trunk lid, door belt inner and outer, and encapsulation, as well as hood, sun roof, fixed, door opening, door seal, and door drip weather strips. It also provides hose products, such as air conditioning, power steering return, fuel, radiator, brake vacuum, heater, fuel filler, power steering pressure, hydraulic brake, and intercooler hoses, as well as blow molding; and industrial products. The company was founded in 1978 and is headquartered in Yangsan-si, South Korea.

Stock analysis

Hwaseung R&A Co. Ltd. (378850) currently trades at 2,845 KRW, while our model-based Fair Value estimate is 8,535 KRW, implying the stock looks roughly 66.7% undervalued today.

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Valuation

Bull case: the DCF Models group reads highest at a median of 24,761 KRW per share, and 23 of the 23 models we run sit above the 2,845 KRW price.

Bear case: the Asset-Based group reads lowest at 5,888 KRW, and 0 of the 23 models stay below the price. Evidence for this calculation is low.

Scenario range: 5,648 KRW (bear) to 11,422 KRW (bull), the price of 2,845 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 52/100 (solid quality), in the Consumer Cyclical sector.

Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.

Hwaseung R&A Co. Ltd. reported revenue of 715B KRW in FY2025 versus 506B KRW in FY2021, a compound +9.0%/yr. Reported net income was 18.2B KRW in FY2025, compounding +21.7%/yr from FY2021.

Key figures

Market cap 54.0B KRW (≈ $39.7M) · P/S ratio 0.07 · Dividend yield 2.6% · Net margin 2.6% · Return on equity 14.6% · Return on assets (EBIT) 5.1% · Operating margin 4.6% · Revenue (TTM) 726B KRW.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).

What moves the price

The share trades about 27% below its 52-week high and 8% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Consumer Cyclical peers we cover trades at −38% fair-value upside, at 200%, 378850 screens cheaper than that median.

Fair Value models

Bear 5,648 KRW Fair Value 8,535 KRW Bull 11,422 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.
Highest evidence
FCF DCF 20,978 KRW 29,876 KRW 42,247 KRW 77
Growth DCF 21,434 KRW 29,544 KRW 40,274 KRW 76
Owner Earnings 13,392 KRW 18,940 KRW 26,652 KRW 74
All 23 models by family
DCF Models
FCF DCF 20,978 KRW 29,876 KRW 42,247 KRW 77
Owner Earnings 13,392 KRW 18,940 KRW 26,652 KRW 74
5Y Revenue Exit 16,000 KRW 22,839 KRW 31,195 KRW 70
5Y EBITDA Exit 20,015 KRW 30,069 KRW 41,341 KRW 72
5Y P/E Exit 17,067 KRW 24,761 KRW 32,447 KRW 68
10Y Revenue Exit 17,366 KRW 23,795 KRW 31,697 KRW 65
10Y EBITDA Exit 20,193 KRW 28,604 KRW 39,007 KRW 66
10Y P/E Exit 18,383 KRW 25,073 KRW 32,599 KRW 62
Earnings-Based
Graham-Dodd 6,529 KRW 16,579 KRW 21,554 KRW 62
PEG = 1.0 3,078 KRW 4,397 KRW 5,717 KRW 55
EPV 11,075 KRW 12,693 KRW 14,088 KRW 71
Multiples
P/E Multiple 15,842 KRW 21,123 KRW 26,404 KRW 63
P/S Multiple 12,242 KRW 16,322 KRW 20,403 KRW 58
P/B Multiple 12,242 KRW 16,322 KRW 20,403 KRW 55
EV/EBIT 20,086 KRW 26,503 KRW 32,920 KRW 66
EV/EBITDA 22,028 KRW 29,093 KRW 36,158 KRW 67
EV/Revenue 13,811 KRW 19,373 KRW 24,934 KRW 54
Asset-Based
NCAV (Graham) 4,394 KRW 5,888 KRW 8,788 KRW 54
Growth DCF
Growth DCF 21,434 KRW 29,544 KRW 40,274 KRW 76
Rev-Margin DCF 16,000 KRW 23,104 KRW 30,936 KRW 70
Economic Profit
Residual Income 7,793 KRW 8,759 KRW 14,572 KRW 71
ROIC Compounder 11,410 KRW 13,806 KRW 16,516 KRW 69
Growth Earnings
Growth-Adj P/E 12,222 KRW 17,460 KRW 22,698 KRW 65

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Quality Score breakdown

Overall quality 52/100

Of which business quality 52 · Market factors (momentum, volatility) 34

Profitability 51
Margins and returns on capital today
Quality Growth 40
Are margins and returns improving?
Cashflow 53
Earnings quality: real cash, not paper profit
Fin. Strength 35
Balance sheet, leverage, solvency risk
Investment 58
Disciplined investing over empire-building
Low Volatility 51
Calm price path (market factor)
Momentum 29
Price trend over the last 3–12 months (market factor)
52W Momentum 23
Distance to the 52-week high (market factor)
Net Issuance 82
Share count: buybacks or dilution?

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Revenue & earnings trend

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. 64/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+1.1%
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.
+2.8%
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.
+19.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+17.0%
Dividend (yield on the price)2.6%
Profit margin 2021 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% → 4%

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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.Auto Parts · 692 stocks

Beats the industry median on 7/10 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 52 · Below median
Fair Value upside +200% · Top 25%
Profitability
Return on equity (TTM) 15% · Top 25%
Return on assets 3% · Above median
Net margin (TTM) 3% · Below median
Operating margin (TTM) 5% · Below median
Growth and dividend
Revenue growth 7% · Above median
Dividend yield (TTM) 2.6% · Above median
Balance sheet
Debt / equity 0.02× · Below median

Valuation Multiplesvs Auto Parts median · lower = cheaper

P/FCF 0.0× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 24
FUTURE (revenue growth)33 · sector 21
PAST (return on equity)58 · sector 28
HEALTH (low debt)99 · sector 95
DIVIDEND (yield)53 · sector 38

Context: sector, industry, market

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

Similar stocks

10 more Auto Parts stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
O'Reilly Automotive, Inc ORLY $85.90 $48.08 −44%
AutoZone, Inc AZO $2,843 $2,368 −17%
Hyundai Mobis Co 012330 367,500 KRW 631,641 KRW +72%
Fuyao Glass Industry Group 600660 ¥53.77 ¥75.79 +41%
Magna International Inc MGA $63.73 $68.17 +7%
Genuine Parts Company GPC $128.76 $58.07 −55%
Samvardhana Motherson International Limited MOTHERSON ₹164.40 ₹96.97 −41%
Ningbo Tuopu Group 601689 ¥45.71 ¥28.28 −38%
Bosch Limited BOSCHLTD ₹47,955 ₹25,325 −47%
Bharat Forge Limited BHARATFORG ₹2,004 ₹407.35 −80%

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Cite: Fair Value Calculator (2026). "Hwaseung R&A Co. Ltd. Fair Value". https://www.fairvalue-calculator.com/stock/378850

Frequently asked questions

Is Hwaseung R&A Co. Ltd. (378850) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 8,535 KRW versus a price of 2,845 KRW, about +200% upside (undervalued).
What is the fair value of 378850?
Our model-based fair value for Hwaseung R&A Co. Ltd. is 8,535 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 2,845 KRW.
What is the quality score of 378850?
Hwaseung R&A Co. Ltd. has a Quality Score of 52/100. 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 Hwaseung R&A Co. Ltd. (378850)?
Our model-based price target is the fair value of 8,535 KRW (as of Sep 24, 2026) from 23 valuation models. Cautious scenario 5,648 KRW, optimistic scenario 11,422 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Hwaseung R&A Co. Ltd. stock forecast for 2026?
Our models put fair value at 8,535 KRW, about +200% upside versus a price of 2,845 KRW (undervalued). Cautious scenario 5,648 KRW, optimistic scenario 11,422 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Hwaseung R&A Co. Ltd. (378850)?
Hwaseung R&A Co. Ltd. reported trailing-twelve-month revenue of about 726B KRW (latest available figure, as of Sep 24, 2026).
Does Hwaseung R&A Co. Ltd. pay a dividend?
Hwaseung R&A Co. Ltd. currently shows a dividend yield of about 2.64% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Hwaseung R&A Co. Ltd. (378850)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Hwaseung R&A Co. Ltd. it is 8,535 KRW per share (as of Sep 24, 2026), against a price of 2,845 KRW. It is the blended result of 23 valuation models (cash flow, earnings, asset, dividend).
Is Hwaseung R&A Co. Ltd. stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 378850 trades below its calculated fair value: price 2,845 KRW, fair value 8,535 KRW, a gap of about +200% (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 378850?
No. The price is what the market pays today (2,845 KRW); the fair value is what the company's own numbers justify (8,535 KRW). For Hwaseung R&A Co. Ltd. the two are 5,690 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Hwaseung R&A Co. Ltd. worth?
The market values Hwaseung R&A Co. Ltd. at about 54.0B KRW (market capitalisation, as of Sep 24, 2026). Per share that is 2,845 KRW; our models calculate a fair value of 8,535 KRW per share.
What do the bullish and bearish scenarios say about 378850?
Our models span a range for Hwaseung R&A Co. Ltd.: cautious scenario 5,648 KRW, base 8,535 KRW, optimistic 11,422 KRW per share (as of Sep 24, 2026, price 2,845 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Hwaseung R&A Co. Ltd. (378850)?
Balance-sheet figures for Hwaseung R&A Co. Ltd. (as of Sep 24, 2026): return on equity 14.6%, debt of 0.02 per unit of equity. They feed the Quality Score of 52/100, which measures business quality independently of the share price.
How far is 378850 from its 52-week high?
Hwaseung R&A Co. Ltd. trades at 2,845 KRW, about 27% below its 52-week high of 3,920 KRW and 8% above the low of 2,640 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 8,535 KRW is for.
Which stocks are comparable to Hwaseung R&A Co. Ltd.?
From the same area (Consumer Cyclical) we also value O'Reilly Automotive, Inc, AutoZone, Inc, Hyundai Mobis Co, Fuyao Glass Industry Group, 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 Hwaseung R&A Co. Ltd. stock attractive at the current price?
The data as of Sep 24, 2026: price 2,845 KRW, calculated fair value 8,535 KRW (+200%), Quality Score 52/100, from 23 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 378850 calculated?
We run Hwaseung R&A Co. Ltd. through 23 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 8,535 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. Hwaseung R&A Co. Ltd. currently trades 200 % 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 Hwaseung R&A Co. Ltd. (378850)?
The closing price on Sep 23, 2026 was 2,845 KRW. Our model-based fair value is 8,535 KRW, about +200% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Hwaseung R&A Co. Ltd. right now?
The price is below even our cautious bear case (5,648 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 (52/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (5,648 KRW to 11,422 KRW) leaves room in how you read the outcome.

Key figures of Hwaseung R&A Co. Ltd.

How large is the market capitalisation of Hwaseung R&A Co. Ltd. (378850)?
The market capitalisation of Hwaseung R&A Co. Ltd. is 54.0B KRW (≈ $39.7M). 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 Hwaseung R&A Co. Ltd. (378850)?
The price-to-sales ratio of Hwaseung R&A Co. Ltd. is 0.07 (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 Hwaseung R&A Co. Ltd. (378850)?
The dividend yield of Hwaseung R&A Co. Ltd. is 2.6%. 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 Hwaseung R&A Co. Ltd. (378850)?
The net margin of Hwaseung R&A Co. Ltd. is 2.6% (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 Hwaseung R&A Co. Ltd. (378850)?
The return on equity (ROE) of Hwaseung R&A Co. Ltd. is 14.6% (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 Hwaseung R&A Co. Ltd. (378850)?
On an EBIT basis the return on assets of Hwaseung R&A Co. Ltd. is 5.1% (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 Hwaseung R&A Co. Ltd. (378850)?
The operating margin of Hwaseung R&A Co. Ltd. is 4.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Hwaseung R&A Co. Ltd. (378850)?
Revenue at Hwaseung R&A Co. Ltd. is growing +6.6% versus a year earlier (3y avg +2.8%). 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 Hwaseung R&A Co. Ltd. (378850)?
Earnings per share at Hwaseung R&A Co. Ltd. are growing +115% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Hwaseung R&A Co. Ltd. (378850) generate?
The free cash flow of Hwaseung R&A Co. Ltd. is 31.2B KRW (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Hwaseung R&A Co. Ltd. (378850) carry?
The net debt of Hwaseung R&A Co. Ltd. is 127B KRW (fiscal year 2025, ≈ 4.1 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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