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CS Wind Corp (112610) Fair Value & Analysis

Industrials · KR · Market cap 1.7T KRW (≈ $1.2B) · ISIN KR7112610001

What is CS Wind Corp really worth?

CW CS Wind Corp 112610 · KO
Price46,950 KRW
Fair Value19,822 KRW
Upside−57.8%
Quality53/100

A solid business, but trading 137% above our fair value of 19,822 KRW.

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Strengths

Low debt · generates free cash flow

Risks

!Mixed Growth (revenue 5y +24.8 %/yr)
!Loss over the last twelve months · -0.6% net margin · fiscal year 2025 1.2%
!Mixed vs. peers (4/10)
!Narrow moat 32/100
!Evidence only low, so the estimate is less certain

For context

·2.13% dividend yield
Evidence: Low Range 18,083 KRW – 23,518 KRW

Fair value as of: Aug 19, 2026

From 24 valuation models · updated 16 days ago

Share price +22.4% over the past month.

What runs behind every stock

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

What matters now

  • The price sits above even our optimistic bull case (23,518 KRW). The favourable scenario is already priced in.
  • 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 but not exceptional quality (53/100) and above fair value, neither a clear bargain nor a standout compounder.

Price vs Fair Value (5 years)

83,695 KRW 29,735 KRW Fair Value 19,822 KRW Apr 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 19, 2026.

How to read this chart

60‑month range 29,735 KRW – 83,695 KRW · fair‑value band 18,083 KRW – 23,518 KRW · the 46,950 KRW price screens above the 19,822 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 19, 2026.

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Analysis

CS Wind Corp (112610) currently trades at 46,950 KRW, while our model-based Fair Value estimate is 19,822 KRW, implying the stock looks roughly 136.9% overvalued today. The Quality Score stands at 53/100 (solid quality), in the Industrials sector. Bull case: the DCF Models group reads highest at a median of 173,376 KRW per share, and 15 of the 24 models we run sit above the 46,950 KRW price. Bear case: the Multiples group reads lowest at 17,586 KRW, and 9 of the 24 models stay below the price. Evidence for this calculation is low.

Over the trailing twelve months, CS Wind Corp generated revenue of 2.7T KRW at a net margin of −0.6%. Revenue declined 21.2% year over year. It earns a return on equity of −0.9%. Net debt stands at 519B KRW. Fundamentals as of Aug 19, 2026

Our scenario range runs from 18,083 KRW (bear case) to 23,518 KRW (bull case); at 46,950 KRW, the current price sits above 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 41% below its 52-week high and 23% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at −52% fair-value upside, at −58%, 112610 screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

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
Residual Income best evidence 20,474 KRW 19,976 KRW 17,220 KRW 76
FCF DCF 185,125 KRW 299,802 KRW 674,768 KRW 74
EPV 67,442 KRW 79,719 KRW 90,632 KRW 74
All 24 models by family
DCF Models
FCF DCF 185,125 KRW 299,802 KRW 674,768 KRW 74
Owner Earnings 41,822 KRW 100,851 KRW 230,314 KRW 69
5Y Revenue Exit 103,463 KRW 173,376 KRW 315,530 KRW 70
5Y EBITDA Exit 133,433 KRW 235,127 KRW 430,104 KRW 72
5Y P/E Exit 56,304 KRW 88,416 KRW 125,378 KRW 70
10Y Revenue Exit 123,727 KRW 246,069 KRW 332,909 KRW 66
10Y EBITDA Exit 149,135 KRW 309,884 KRW 601,724 KRW 64
10Y P/E Exit 92,113 KRW 145,656 KRW 224,111 KRW 63
Earnings-Based
Graham-Dodd 5,694 KRW 39,712 KRW 55,730 KRW 63
Lynch FV 13,881 KRW 19,830 KRW 25,779 KRW 61
PEG = 1.0 13,881 KRW 19,830 KRW 25,779 KRW 57
EPV 67,442 KRW 79,719 KRW 90,632 KRW 74
Multiples
P/E Multiple 13,189 KRW 17,586 KRW 21,982 KRW 63
P/S Multiple 10,677 KRW 14,236 KRW 17,795 KRW 58
P/B Multiple 10,677 KRW 14,236 KRW 17,795 KRW 55
EV/EBIT 96,429 KRW 129,282 KRW 162,135 KRW 66
EV/EBITDA 112,755 KRW 151,049 KRW 189,344 KRW 67
EV/Revenue 68,215 KRW 98,362 KRW 128,509 KRW 53
Asset-Based
NCAV (Graham) 13,913 KRW 18,643 KRW 27,826 KRW 54
Growth DCF
Growth DCF 174,358 KRW 339,331 KRW 687,057 KRW 73
Rev-Margin DCF 103,463 KRW 198,834 KRW 355,983 KRW 69
Economic Profit
Residual Income best evidence 20,474 KRW 19,976 KRW 17,220 KRW 76
ROIC Compounder 89,191 KRW 138,183 KRW 196,618 KRW 70
Growth Earnings
Growth-Adj P/E 18,083 KRW 25,833 KRW 33,583 KRW 67

Widest divergence: Growth DCF (198,834 KRW) versus Multiples (17,586 KRW). Highest evidence: Residual Income (76).

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Key figures & financial health

P/S ratio 0.61 TTM
Dividend yield 2.1%
Net margin 1.2% FY2025
Return on equity −0.9% TTM
Return on assets (EBIT) 5.8% avg 5y
Operating margin 10.4% TTM
More key figures
Growth
Revenue (TTM) 2.7T KRW TTM
Revenue growth (YoY) −21.2% 3y avg +28.7%
EPS growth (YoY) −54.7%
Balance sheet & cash flow
Free cash flow 435B KRW FY2025
Net debt 519B KRW FY2025 · ≈ 1.2 yrs of FCF

Figures from reported company fundamentals · as of Aug 19, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 53/100

Of which business quality 55 · Market factors (momentum, volatility) 33

Profitability 31
Margins and returns on capital today
Quality Growth 43
Are margins and returns improving?
Cashflow 78
Earnings quality: real cash, not paper profit
Fin. Strength 48
Balance sheet, leverage, solvency risk
Investment 49
Disciplined investing over empire-building
Low Volatility 39
Calm price path (market factor)
Momentum 31
Price trend over the last 3–12 months (market factor)
52W Momentum 32
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

CS Wind Corporation manufactures and sells wind towers and offshore wind substructures in Europe, North America, and Asia. It offers onshore and offshore wind power towers; transition pieces; wind power equipment; offshore wind power substructure construction contract services; aluminum platforms; and wind towers research and development services.

Full company description

CS Wind Corporation manufactures and sells wind towers and offshore wind substructures in Europe, North America, and Asia. It offers onshore and offshore wind power towers; transition pieces; wind power equipment; offshore wind power substructure construction contract services; aluminum platforms; and wind towers research and development services. The company was formerly known as Choong San Wind Corporation and changed its name to CS Wind Corporation in 2007. CS Wind Corporation was founded in 2006 and is headquartered in Seoul, South Korea.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

CS Wind Corp reported revenue of 2.9T KRW in FY2025 versus 1.2T KRW in FY2021, a compound +24.9%/yr. Reported net income was 34.7B KRW in FY2025, compounding −14.9%/yr from FY2021.

Growth Quality 84/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
2.9T KRW
Latest YoY
−4.6%
Avg. revenue 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.
+28.7%
Avg. revenue growth/yr (5Y) 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.
+24.8%
Avg. revenue growth/yr (11Y) 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.
+22.0%
Value creation/yr (5Y, in KRW) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year. 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.
−0.9% (−3.0 + 2.1)
Revenue +24.9%/yr
FY21 1.2T KRW
FY22 1.4T KRW
FY23 1.5T KRW
FY24 3.1T KRW
FY25 2.9T KRW
Net income −14.9%/yr
FY21 66.2B KRW
FY22 1.9B KRW
FY23 19.4B KRW
FY24 142B KRW
FY25 34.7B KRW

112610 screens 137% overvalued. Compare with GE Vernova Inc →

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Cite: Fair Value Calculator (2026). "CS Wind Corp Fair Value". https://www.fairvalue-calculator.com/stock/112610

Peer Group

Specialty Industrial Machinery · 792 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 53 · Below median
Fair Value upside −58% · Below median
Return on assets 5% · Above median
Net margin (TTM) −1% · Bottom 25%
Operating margin (TTM) 10% · Above median
Revenue growth −21% · Bottom 25%
Dividend yield (TTM) 2.1% · Above median
Debt / equity 0.49× · Higher than 75% of peers

Valuation Multiples vs Specialty Industrial Machinery median · lower = cheaper

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

Strength profile in five axes (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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 0
FUTURE0 · sector 21
PAST0 · sector 28
HEALTH75 · sector 96
DIVIDEND43 · sector 27

VALUE 0: the price sits above our fair-value range.

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 Specialty Industrial Machinery stocks, each showing price versus our Fair Value estimate (as of Aug 19, 2026).

Stock Price Fair Value vs Fair Value
GE Vernova Inc GEV $941.84 $131.95 −86%
SIE SIE €289.85 €139.77 −52%
Eaton Corporation ETN $402.78 $168.65 −58%
Parker-Hannifin Corporation PH $995.02 $398.69 −60%
Atlas Copco AB ATCOA kr 206.60 kr 112.59 −46%
Cummins Inc CMI $564.40 $348.94 −38%
Illinois Tool Works Inc ITW $281.67 $145.84 −48%
Emerson Electric Co EMR $155.18 $58.44 −62%
AMETEK, Inc AME $236.25 $125.80 −47%
Rockwell Automation, Inc ROK $417.53 $125.76 −70%

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Frequently asked questions

Is CS Wind Corp (112610) overvalued or undervalued?
As of Aug 19, 2026, our model estimates a fair value of 19,822 KRW versus a price of 46,950 KRW, about −58% upside (overvalued).
What is the fair value of 112610?
Our model-based fair value for CS Wind Corp is 19,822 KRW (as of Aug 19, 2026), built from audited fundamentals. The current price: 46,950 KRW.
What is the quality score of 112610?
CS Wind Corp 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 revenue of CS Wind Corp (112610)?
CS Wind Corp reported trailing-twelve-month revenue of about 2.7T KRW (latest available figure, as of Aug 19, 2026).
What is the net profit margin of 112610?
The net profit margin of CS Wind Corp is about −0.6%, meaning it is currently running at a net loss. Based on the latest reported figures.
Does CS Wind Corp pay a dividend?
CS Wind Corp currently shows a dividend yield of about 2.13% relative to its recent price (as of Aug 19, 2026).
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