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Winners Elec Co (479960) Fair Value & Analysis

Industrials · KR · Market cap 40.8B KRW

WE Winners Elec Co 479960 · KQ
Price6,100 KRW
Fair Value6,841 KRW
Upside+12.2%
Quality51/100
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Mixed Growth
Solidly profitable · 14.3% net margin
Low debt · generates free cash flow
7.82% dividend yield
Ranks above peers (9/10)
Moderate moat 52/100
Evidence: High Range 4,612 KRW – 10,246 KRW Share as image

Fair value as of: Jul 21, 2026

From 23 valuation models · updated 20 days ago

Share price −5.9% over the past month.

A solid business, screening 12% undervalued on our models.

What matters now

  • A fairly wide model range (4,612 KRW to 10,246 KRW) leaves room in how you read the outcome.
  • Our model range runs from 4,612 KRW (bear) to 10,246 KRW (bull), base 6,841 KRW. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 51/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (17 months)

32,468 KRW 4,820 KRW Fair Value 6,841 KRW Feb 2025 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 21, 2026.

How to read this chart

17‑month range 4,820 KRW – 32,468 KRW · fair‑value band 4,612 KRW – 10,246 KRW · the 6,100 KRW price screens below the 6,841 KRW fair value. Dashed = 300-day average. As of Jul 21, 2026.

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Analysis

Winners Elec Co (479960) currently trades at 6,100 KRW, while our model-based Fair Value estimate is 6,841 KRW, implying the stock looks roughly 12.2% undervalued today. The Quality Score stands at 51/100 (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, Winners Elec Co generated revenue of 32.2B KRW at a net margin of 14.3%. Revenue grew 14.1% year over year. It earns a return on equity of 12.3%. Net debt stands at 767M KRW. Fundamentals as of Jul 21, 2026

Our scenario range runs from 4,612 KRW (bear case) to 10,246 KRW (bull case); at 6,100 KRW, the current price sits within 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 62% below its 52-week high, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -48% fair-value upside, at 12%, 479960 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 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
Highest evidence
Growth DCF 2,775 KRW 3,733 KRW 5,055 KRW 80
Residual Income 5,426 KRW 6,295 KRW 11,833 KRW 76
Rev-Margin DCF 4,747 KRW 7,560 KRW 10,590 KRW 74
All 23 models by family
DCF Models
FCF DCF 2,715 KRW 3,757 KRW 5,265 KRW 38
Owner Earnings 7,423 KRW 10,662 KRW 15,348 KRW 31
5Y Revenue Exit 4,747 KRW 7,582 KRW 11,147 KRW 39
5Y EBITDA Exit 6,261 KRW 10,305 KRW 14,905 KRW 41
5Y P/E Exit 7,297 KRW 12,166 KRW 17,108 KRW 38
10Y Revenue Exit 3,802 KRW 6,198 KRW 9,289 KRW 36
10Y EBITDA Exit 4,920 KRW 8,048 KRW 12,054 KRW 37
10Y P/E Exit 5,570 KRW 9,313 KRW 13,675 KRW 35
Earnings-Based
Graham-Dodd 4,617 KRW 11,564 KRW 15,008 KRW 54
PEG = 1.0 2,120 KRW 3,028 KRW 3,936 KRW 46
EPV 6,270 KRW 7,235 KRW 8,079 KRW 59
Multiples
P/E Multiple 10,693 KRW 14,258 KRW 17,822 KRW 63
P/S Multiple 6,841 KRW 9,122 KRW 11,402 KRW 58
P/B Multiple 8,656 KRW 11,542 KRW 14,427 KRW 55
EV/EBIT 10,291 KRW 13,561 KRW 16,831 KRW 53
EV/EBITDA 9,333 KRW 12,283 KRW 15,234 KRW 54
EV/Revenue 6,228 KRW 8,691 KRW 11,154 KRW 43
Asset-Based
NCAV (Graham) 2,974 KRW 3,985 KRW 5,948 KRW 50
Growth DCF
Growth DCF 2,775 KRW 3,733 KRW 5,055 KRW 80
Rev-Margin DCF 4,747 KRW 7,560 KRW 10,590 KRW 74
Economic Profit
Residual Income 5,426 KRW 6,295 KRW 11,833 KRW 76
ROIC Compounder 6,330 KRW 7,700 KRW 9,323 KRW 72
Growth Earnings
Growth-Adj P/E 8,245 KRW 11,779 KRW 15,313 KRW 68

Widest divergence: Growth Earnings (11,779 KRW) versus Growth DCF (3,733 KRW). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 32.2B KRW
Revenue growth (YoY) +14.1%
Net margin 14.3%
Return on equity 12.3%
Free cash flow 1.4B KRW FY2025
Operating margin 8.5%
More key figures
Dividend yield 6.9%
EPS growth (YoY) -21.6%
Net debt 767M KRW FY2023

Figures from reported company fundamentals · as of Jul 21, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 51/100

Of which business quality 51 · Market factors (momentum, volatility) 5

Profitability 50
Margins and returns on capital today
Quality Growth 62
Are margins and returns improving?
Cashflow 27
Earnings quality: real cash, not paper profit
Fin. Strength 84
Balance sheet, leverage, solvency risk
Investment 39
Disciplined investing over empire-building
Low Volatility 13
Calm price path (market factor)
Momentum 0
Price trend over the last 3–12 months (market factor)
52W Momentum 3
Distance to the 52-week high (market factor)
Net Issuance 42
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

Winners Elec Co., Ltd. manufactures and sells wiring devices. It offers power strips, switches, outlets, home distribution boxes, breakers, sockets, plugs, adaptors, industrial products, and low voltage panelboards. The company was formerly known as Winners Co.,Ltd. and changed its name to Winners Elec Co., Ltd. in April 2026.

Full company description

Winners Elec Co., Ltd. manufactures and sells wiring devices. It offers power strips, switches, outlets, home distribution boxes, breakers, sockets, plugs, adaptors, industrial products, and low voltage panelboards. The company was formerly known as Winners Co.,Ltd. and changed its name to Winners Elec Co., Ltd. in April 2026. The company was founded in 2004 and is based in Namyangju-si, South Korea. Winners Elec Co., Ltd. operates as a subsidiary of Winners Holding Corp.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Winners Elec Co reported revenue of 31.2B KRW in FY2025 versus 29.9B KRW in FY2021, a compound +1.1%/yr. Reported net income was 4.7B KRW in FY2025, compounding +7.6%/yr from FY2021.

Growth Quality 65/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
31.2B KRW
Latest YoY
+18.5%
Avg. growth/yr (3Y) 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.
+5.1%
Revenue +1.1%/yr
FY21 29.9B KRW
FY22 26.9B KRW
FY23 27.6B KRW
FY24 26.4B KRW
FY25 31.2B KRW
Net income +7.6%/yr
FY21 3.5B KRW
FY22 2.0B KRW
FY23 3.0B KRW
FY24 2.5B KRW
FY25 4.7B KRW

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Cite: Fair Value Calculator (2026). "Winners Elec Co Fair Value". https://www.fairvalue-calculator.com/stock/479960

Peer Group

Electrical Equipment & Parts · 526 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 51 · Below median
Fair Value upside +12% · Top 25%
Return on equity (TTM) 12% · Above median
Return on assets 7% · Top 25%
Net margin (TTM) 14% · Top 25%
Operating margin (TTM) 8% · Above median
Revenue growth 14% · Above median
Dividend yield (TTM) 7.8% · Top 25%

Valuation Multiples vs Electrical Equipment & Parts 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 49 · sector 0
FUTURE 71 · sector 57
PAST 49 · sector 26
HEALTH 100 · sector 97
DIVIDEND 100 · sector 18

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

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

Similar stocks

10 more Electrical Equipment & Parts stocks, each showing price versus our Fair Value estimate (as of Jul 21, 2026).

Stock Price Fair Value vs Fair Value
Contemporary Amperex Technology Co 3750 HK$675.50 HK$391.44 -42%
ABB Ltd ABBN CHF 83.82 CHF 35.46 -58%
Delta Electronics (Thailand) Public Company TDED 10.16 SGD 1.47 SGD -86%
LG Energy Solution, Ltd 373220 334,000 KRW 201,455 KRW -40%
WEG S.A WEGE3 13,210 ARS 7,948 ARS -40%
Sungrow Power Supply Co 300274 ¥114.79 ¥123.83 +8%
Shenzhen Inovance Technology Co 300124 ¥63.43 ¥33.04 -48%
HD Hyundai Electric Co 267260 823,000 KRW 371,133 KRW -55%
LS ELECTRIC Co 010120 190,000 KRW 31,517 KRW -83%
Sieyuan Electric Co 002028 ¥151.73 ¥71.69 -53%

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Frequently asked questions

Is Winners Elec Co (479960) overvalued or undervalued?
As of Jul 21, 2026, our model estimates a fair value of 6,841 KRW versus a price of 6,100 KRW, about +12% (undervalued).
What is the fair value of 479960?
Our model-based fair value for Winners Elec Co is 6,841 KRW (as of Jul 21, 2026), built from audited fundamentals. The current price is 6,100 KRW.
What is the quality score of 479960?
Winners Elec Co has a Quality Score of 51/100. 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 Winners Elec Co (479960)?
Winners Elec Co reported trailing-twelve-month revenue of about 32.2B KRW (latest available figure, as of Jul 21, 2026).
What is the net profit margin of 479960?
The net profit margin of Winners Elec Co is about 14.3%, meaning it keeps roughly 14.3% of revenue as net income. Based on the latest reported figures.
Does Winners Elec Co pay a dividend?
Winners Elec Co currently shows a dividend yield of about 6.85% relative to its recent price (as of Jul 21, 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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