Winners (479960) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of Winners stock KRW 6,229, price KRW 4,880, upside +27.6%, quality 53 out of 100. Rating: undervalued. Calculated from audited financials with 25 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 8, 2026.
How to read this chart
20‑month range 4,820 KRW – 32,468 KRW · fair‑value band 3,901 KRW – 9,198 KRW · the 4,880 KRW price screens below the 6,229 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 8, 2026.
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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.
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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.
Stock analysis
Winners (479960) currently trades at 4,880 KRW, while our model-based Fair Value estimate is 6,229 KRW, implying the stock looks roughly 22% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 11,853 KRW per share, and 20 of the 25 models we run sit above the 4,880 KRW price.
Bear case: the Asset-Based group reads lowest at 3,594 KRW, and 5 of the 25 models stay below the price. Data coverage for this calculation is high.
Scenario range: 3,901 KRW (bear) to 9,198 KRW (bull), the price of 4,880 KRW sits inside 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 53/100 (solid quality), in the Industrials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Winners 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.
Key figures
Market cap 35.4B KRW (≈ $26.2M) Micro · P/E ratio 9.6 · P/S ratio 1.10 · EPS (TTM) 575.04 KRW · Dividend yield 10.2% · Net margin 12.7% · Return on equity 10.5% · Return on assets (EBIT) 9.9% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 56 out of 100 (low confidence).
What moves the price
The share trades about 65% below its 52-week high and 1% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −36% fair-value upside, at 28%, 479960 screens cheaper than that median.
Fair Value models
Bear3,901 KRWFair Value 6,229 KRWBull9,198 KRW
Price 4,880 KRW · Upside +27.6%
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 (64.35 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.
Best data coverage
FCF DCF2,724 KRW3,637 KRW4,846 KRW78
Growth DCF2,767 KRW3,596 KRW4,640 KRW77
Owner Earnings2,978 KRW3,995 KRW5,340 KRW74
All 25 models by family
DCF Models
FCF DCF2,724 KRW3,637 KRW4,846 KRW78
Owner Earnings2,978 KRW3,995 KRW5,340 KRW74
5Y Revenue Exit4,507 KRW7,105 KRW10,365 KRW69
5Y EBITDA Exit5,891 KRW9,590 KRW13,793 KRW72
5Y P/E Exit6,836 KRW11,289 KRW15,803 KRW67
10Y Revenue Exit3,619 KRW5,725 KRW8,428 KRW63
10Y EBITDA Exit4,589 KRW7,328 KRW10,821 KRW65
10Y P/E Exit5,153 KRW8,424 KRW12,224 KRW61
Earnings-Based
Graham-Dodd4,439 KRW11,118 KRW14,429 KRW62
PEG = 1.02,038 KRW2,911 KRW3,785 KRW55
EPV5,483 KRW6,226 KRW6,856 KRW71
Dividend Discount
Gordon GGM4,086 KRW7,146 KRW10,732 KRW64
DDM Multi-Stage4,086 KRW5,971 KRW7,844 KRW64
Multiples
P/E Multiple10,281 KRW13,707 KRW17,134 KRW63
P/S Multiple6,577 KRW8,770 KRW10,962 KRW58
P/B Multiple18,996 KRW25,328 KRW31,660 KRW55
EV/EBIT9,324 KRW12,468 KRW15,612 KRW66
EV/EBITDA8,402 KRW11,239 KRW14,076 KRW67
EV/Revenue5,417 KRW7,785 KRW10,153 KRW53
Asset-Based
NCAV (Graham)2,372 KRW3,594 KRW4,492 KRW54
Growth DCF
Growth DCF2,767 KRW3,596 KRW4,640 KRW77
Rev-Margin DCF4,507 KRW7,093 KRW9,881 KRW69
Economic Profit
Residual Income5,078 KRW5,670 KRW6,903 KRW73
ROIC Compounder5,483 KRW6,402 KRW7,485 KRW69
Growth Earnings
Growth-Adj P/E7,927 KRW11,324 KRW14,722 KRW65
The fair value above starts from this blend and is adjusted for dilution from new shares.
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.60/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+18.5%
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.
+5.1%
’21
’22
’23
’24
’25
What shareholders gained per year (last 5 years), in KRW (mathematically smoothed) ⓘ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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. 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.
+27.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year+16.8%
Dividend (yield on the price)10.2%
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.14% → 17%
2025 sits 54% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
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).
+6.8%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (South Korea: IMF forecast 2.1% a year to 2030, 2.1% from 2016 to 2025) that is about +4.7% a year for the price.
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.Electrical Equipment & Parts · 564 stocks
Beats the industry median on 12/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score53 · Above median
Fair Value upside+27.3% · Top 25%
Profitability
Return on equity (12 months)10.5% · Above median
Return on assets9.3% · Top 25%
Net margin (12 months)12.7% · Top 25%
Operating margin (12 months)14.1% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)0.4% · Below median
Dividend yield (12 months)10.2% · Top 25%
Valuation Multiplesvs Electrical Equipment & Parts median · lower = cheaper
P/E (12 months)9.6× · Cheapest 25%
P/B0.87× · Cheapest 25%
P/S (12 months)1.10× · Cheaper than median
Price / free cash flow (fiscal year)25.1× · 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). "Winners Fair Value". https://www.fairvalue-calculator.com/stock/479960
Frequently asked questions
Is Winners (479960) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of 6,229 KRW versus a price of 4,880 KRW, about +28% upside (undervalued).
What is the fair value of 479960?
Our model-based fair value for Winners is 6,229 KRW (as of Nov 8, 2026), built from audited fundamentals. The current price: 4,880 KRW.
What is the quality score of 479960?
Winners has a Quality Score of 53/100. 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 Winners (479960)?
Our model-based price target is the fair value of 6,229 KRW (as of Nov 8, 2026) from 25 valuation models. Cautious scenario 3,901 KRW, optimistic scenario 9,198 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Winners stock forecast for 2026?
Our models put fair value at 6,229 KRW, about +28% upside versus a price of 4,880 KRW (undervalued). Cautious scenario 3,901 KRW, optimistic scenario 9,198 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Winners (479960)?
Winners reported trailing-twelve-month revenue of about 32.2B KRW (latest available figure, as of Nov 8, 2026).
Does Winners pay a dividend?
Winners currently shows a dividend yield of 10.25% relative to its recent price (as of Nov 8, 2026).
How much is the dividend of Winners (479960) and when is the ex-dividend date?
Winners pays a dividend of 500.00 KRW per share a year, a dividend yield of 10.2%. The last ex-dividend date was Dec 29, 2025. The payout ratio is 87.0% of earnings. Free cash flow covers the dividend 0.40 times. Our assessment: Watch coverage. The dividend isn’t fully covered by free cash flow or earnings, part of it is funded from reserves or debt. Fine for now, but worth watching: if it stays uncovered, the dividend could be cut.
What growth is priced into Winners (479960)?
For today's price to be fair in a discounted-cash-flow model, Winners would have to grow free cash flow by +6.8 % per year for five years (discount rate 10.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 4 years revenue grew +1.1 % per year. As of Nov 8, 2026.
What discount rate (WACC) does the fair value of 479960 use?
Our models discount Winners at 10.1 %: a base by market capitalisation (nano), 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 Winners that is +6.8 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (10.1 %) and the same formula as our fair value.
How much growth has Winners (479960) delivered so far?
Over the past 4 years revenue at Winners grew +1.1 % a year. The price currently implies free-cash-flow growth of +6.8 % 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 Winners (479960) growing?
The median revenue growth in the sector is +7.8 % a year. That is the yardstick for the growth priced into Winners (+6.8 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Winners (479960)?
The free-cash-flow yield on the price is 4.24 %: that much free cash flow Winners produces per unit of market value. When it exceeds the discount rate of our models (10.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Winners (479960)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Winners it is 6,229 KRW per share (as of Nov 8, 2026), against a price of 4,880 KRW. It is the blended result of 25 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Winners stock overvalued or undervalued in 2026?
As of Nov 8, 2026, 479960 trades below its calculated fair value: price 4,880 KRW, fair value 6,229 KRW, a gap of about +28% (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 479960?
No. The price is what the market pays today (4,880 KRW); the fair value is what the company's own numbers justify (6,229 KRW). For Winners the two are 1,349 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Winners worth?
The market values Winners at about 35.4B KRW (market capitalisation, as of Nov 8, 2026). Per share that is 4,880 KRW; our models calculate a fair value of 6,229 KRW per share.
What do the bullish and bearish scenarios say about 479960?
Our models span a range for Winners: cautious scenario 3,901 KRW, base 6,229 KRW, optimistic 9,198 KRW per share (as of Nov 8, 2026, price 4,880 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 479960?
Winners trades at a price-to-earnings ratio of 9.6 (as of Nov 8, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 6,229 KRW is built from several models across several years. Other multiples: P/B 0.9, P/S 1.1, EV/EBITDA 5.5.
How solid is the balance sheet of Winners (479960)?
Balance-sheet figures for Winners (as of Nov 8, 2026): return on equity 10.5%. They feed the Quality Score of 53/100, which measures business quality independently of the share price.
How far is 479960 from its 52-week high?
Winners trades at 4,880 KRW, about 65% below its 52-week high of 13,850 KRW and 1% above the low of 4,820 KRW (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of 6,229 KRW is for.
Which stocks are comparable to Winners?
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 Winners stock attractive at the current price?
The data as of Nov 8, 2026: price 4,880 KRW, calculated fair value 6,229 KRW (+28%), Quality Score 53/100, from 25 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 479960 calculated?
We run Winners through 25 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 6,229 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 13.3% above its aggregate fair value. Winners currently trades 22% 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 Winners (479960)?
The closing price on Nov 9, 2026 was 4,880 KRW. Our model-based fair value is 6,229 KRW, about +28% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Winners right now?
Solid quality (53/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (3,901 KRW to 9,198 KRW) leaves room in how you read the outcome.
Key figures of Winners
How large is the market capitalisation of Winners (479960)?
The market capitalisation of Winners is 35.4B KRW (≈ $26.2M). 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 Winners (479960)?
The price-to-sales ratio of Winners is 1.10 (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 Winners (479960)?
Earnings per share at Winners are 575.04 KRW (price ÷ EPS = P/E 9.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Winners (479960)?
The dividend yield of Winners is 10.2% (payout 87.0%). 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 Winners (479960)?
The net margin of Winners is 12.7% (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 Winners (479960)?
The return on equity (ROE) of Winners is 10.5% (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 Winners (479960)?
On an EBIT basis the return on assets of Winners is 9.9% (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 Winners (479960)?
The operating margin of Winners is 14.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Winners (479960)?
Revenue at Winners is growing +0.4% versus a year earlier (3y avg +5.1%). 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 Winners (479960)?
Earnings per share at Winners are growing −36.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Winners (479960) carry?
The net debt of Winners is 767M KRW (fiscal year 2023, ≈ 0.5 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 8, 2026