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Daehan Shipbuilding Co (439260) Fair Value & Analysis

Industrials · KR · Market cap 1.9T KRW

DS Daehan Shipbuilding Co 439260 · KO
Price49,150 KRW
Fair Value113,711 KRW
Upside+131.4%
Quality71/100
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Healthy Growth
Highly profitable · 21.6% net margin
Low debt · generates free cash flow
0.51% dividend yield
Ranks above peers (7/10)
Wide moat 84/100
Evidence: High Range 77,548 KRW – 166,009 KRW Share as image

Fair value as of: Jul 24, 2026

From 24 valuation models · updated 17 days ago

Share price +3.1% over the past month.

A solid business, screening 131% undervalued on our models.

What matters now

  • The rarer combination: high quality (71/100) AND below fair value. That earns a closer look rather than a quick verdict.
  • The price is below even our cautious bear case (77,548 KRW). The market is more pessimistic than our downside scenario.
  • A fairly wide model range (77,548 KRW to 166,009 KRW) leaves room in how you read the outcome.
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Price vs Fair Value (12 months)

108,304 KRW 43,450 KRW Fair Value 113,711 KRW Aug 2025 Aug 2026

White line = price, green steps = our fair value per fiscal year. As of Jul 24, 2026.

How to read this chart

12‑month range 43,450 KRW – 108,304 KRW · fair‑value band 77,548 KRW – 166,009 KRW · the 49,150 KRW price screens below the 113,711 KRW fair value. As of Jul 24, 2026.

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Analysis

Daehan Shipbuilding Co (439260) currently trades at 49,150 KRW, while our model-based Fair Value estimate is 113,711 KRW, implying the stock looks roughly 131.4% undervalued today. The Quality Score stands at 71/100 (solid quality), in the Industrials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Daehan Shipbuilding Co generated revenue of 1.2T KRW at a net margin of 21.6%. Revenue grew 0.2% year over year. It earns a return on equity of 32.2%. Net debt stands at 12.7B KRW. Fundamentals as of Jul 24, 2026

Our scenario range runs from 77,548 KRW (bear case) to 166,009 KRW (bull case); at 49,150 KRW, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 55% below its 52-week high, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -59% fair-value upside, at 131%, 439260 screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF 63,585 KRW 132,434 KRW 265,636 KRW 80
Rev-Margin DCF 50,035 KRW 92,976 KRW 155,326 KRW 74
ROIC Compounder 77,548 KRW 113,711 KRW 166,009 KRW 72
All 24 models by family
DCF Models
FCF DCF 65,881 KRW 117,291 KRW 260,928 KRW 38
Owner Earnings 107,190 KRW 238,040 KRW 515,036 KRW 31
5Y Revenue Exit 50,035 KRW 91,769 KRW 160,410 KRW 39
5Y EBITDA Exit 74,475 KRW 146,021 KRW 256,987 KRW 41
5Y P/E Exit 91,810 KRW 191,456 KRW 317,710 KRW 38
10Y Revenue Exit 52,878 KRW 100,615 KRW 168,309 KRW 36
10Y EBITDA Exit 71,943 KRW 145,827 KRW 277,008 KRW 37
10Y P/E Exit 84,277 KRW 177,896 KRW 335,224 KRW 35
Earnings-Based
Graham-Dodd 44,414 KRW 289,300 KRW 404,780 KRW 54
Lynch FV 84,125 KRW 120,179 KRW 156,232 KRW 50
PEG = 1.0 84,125 KRW 120,179 KRW 156,232 KRW 46
EPV 62,632 KRW 73,397 KRW 82,966 KRW 59
Multiples
P/E Multiple 102,870 KRW 137,161 KRW 171,451 KRW 63
P/S Multiple 48,366 KRW 64,488 KRW 80,610 KRW 58
P/B Multiple 83,276 KRW 111,035 KRW 138,793 KRW 55
EV/EBIT 100,082 KRW 132,898 KRW 165,715 KRW 53
EV/EBITDA 79,878 KRW 105,960 KRW 132,042 KRW 54
EV/Revenue 42,260 KRW 59,671 KRW 77,083 KRW 43
Asset-Based
NCAV (Graham) 14,340 KRW 19,216 KRW 28,680 KRW 50
Growth DCF
Growth DCF 63,585 KRW 132,434 KRW 265,636 KRW 80
Rev-Margin DCF 50,035 KRW 92,976 KRW 155,326 KRW 74
Economic Profit
Residual Income 45,857 KRW 61,468 KRW 335,404 KRW 61
ROIC Compounder 77,548 KRW 113,711 KRW 166,009 KRW 72
Growth Earnings
Growth-Adj P/E 118,156 KRW 168,794 KRW 219,432 KRW 68

Widest divergence: Growth Earnings (168,794 KRW) versus Asset-Based (19,216 KRW). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 1.2T KRW
Revenue growth (YoY) +0.2%
Net margin 21.6%
Return on equity 32.2%
Free cash flow 153B KRW FY2025
Operating margin 26.8%
More key figures
Dividend yield 0.5%
EPS growth (YoY) +1.4%
Net debt 12.7B KRW FY2024

Figures from reported company fundamentals · as of Jul 24, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 71/100

Of which business quality 69 · Market factors (momentum, volatility) 1

Profitability 70
Margins and returns on capital today
Quality Growth 75
Are margins and returns improving?
Cashflow 55
Earnings quality: real cash, not paper profit
Fin. Strength 88
Balance sheet, leverage, solvency risk
Investment 33
Disciplined investing over empire-building
Low Volatility 0
Calm price path (market factor)
Momentum 0
Price trend over the last 3–12 months (market factor)
52W Momentum 5
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Daehan Shipbuilding Co., Ltd. provides ship construction and repair services. It develops crude oil tankers, product carriers, shuttle tankers, container carriers, and bulk carriers. The company was founded in 1987 and is based in Haenam-eup, South Korea.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2025 · reported fiscal years

Daehan Shipbuilding Co reported revenue of 1.2T KRW in FY2025 versus 694B KRW in FY2022, a compound +21.0%/yr. Reported net income was 249B KRW in FY2025.

Growth Quality 100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
1.2T KRW
Latest YoY
+14.2%
Avg. growth/yr (3Y)
+21.0%
Revenue +21.0%/yr
FY22 694B KRW
FY23 816B KRW
FY24 1.1T KRW
FY25 1.2T KRW
Net income
FY22 −10.4B KRW
FY23 38.3B KRW
FY24 173B KRW
FY25 249B KRW

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Cite: Fair Value Calculator (2026). "Daehan Shipbuilding Co Fair Value". https://www.fairvalue-calculator.com/stock/439260

Peer Group

Aerospace & Defense · 226 stocks

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.

Quality Score 71 · Top 25%
Fair Value upside +131% · Top 25%
Return on equity (TTM) 32% · Top 25%
Return on assets 13% · Top 25%
Net margin (TTM) 22% · Top 25%
Operating margin (TTM) 27% · Top 25%
Revenue growth 0% · Below median
Dividend yield (TTM) 0.5% · Below median
Debt / equity 0.14× · Higher than median

Valuation Multiples vs Aerospace & Defense median · lower = cheaper

P/FCF 0.0× · Cheaper than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 100 · sector 0
FUTURE 1 · sector 46
PAST 100 · sector 38
HEALTH 93 · sector 94
DIVIDEND 10 · sector 15

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

Weapons Defense

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Aerospace & Defense stocks, each showing price versus our Fair Value estimate (as of Jul 24, 2026).

Stock Price Fair Value vs Fair Value
General Electric Company GE $381.22 $116.71 -69%
RTX Corporation RTX $195.93 $88.37 -55%
Airbus SE 1AIR €213.25 €86.20 -60%
The Boeing Company BA $217.11 $48.20 -78%
China CSSC Holdings 600150 ¥34.31 ¥21.90 -36%
HD Hyundai Heavy Industries Co 329180 466,000 KRW 272,966 KRW -41%
Hanwha Aerospace Co 012450 967,000 KRW 573,468 KRW -41%
ASELSAN Elektronik Sanayi ve Ticaret Anonim Sirketi ASELS 337.50 TRY 130.70 TRY -61%
Saab AB SAABB kr 520.40 kr 212.84 -59%
Kongsberg Gruppen ASA KOG kr 277.50 kr 106.93 -61%

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Frequently asked questions

Is Daehan Shipbuilding Co (439260) overvalued or undervalued?
As of Jul 24, 2026, our model estimates a fair value of 113,711 KRW versus a price of 49,150 KRW, about +131% (undervalued).
What is the fair value of 439260?
Our model-based fair value for Daehan Shipbuilding Co is 113,711 KRW (as of Jul 24, 2026), built from audited fundamentals. The current price is 49,150 KRW.
What is the quality score of 439260?
Daehan Shipbuilding Co has a Quality Score of 71/100. 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 revenue of Daehan Shipbuilding Co (439260)?
Daehan Shipbuilding Co reported trailing-twelve-month revenue of about 1.2T KRW (latest available figure, as of Jul 24, 2026).
What is the net profit margin of 439260?
The net profit margin of Daehan Shipbuilding Co is about 21.6%, meaning it keeps roughly 21.6% of revenue as net income. Based on the latest reported figures.
Does Daehan Shipbuilding Co pay a dividend?
Daehan Shipbuilding Co currently shows a dividend yield of about 0.40% relative to its recent price (as of Jul 24, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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