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DL E&C Co (375500) Fair Value & Analysis

Industrials · KR · Market cap 2.6T KRW

DE DL E&C Co 375500 · KO
Price73,500 KRW
Fair Value148,433 KRW
Upside+102.0%
Quality56/100
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Healthy Growth
Thin margins · 6.8% net margin
Low debt · generates free cash flow
1.51% dividend yield
Ranks above peers (7/10)
Narrow moat 39/100
Evidence: High Range 110,978 KRW – 204,993 KRW Share as image

Fair value as of: Aug 13, 2026

From 22 valuation models · updated today

Fair value updated Aug 13, 2026, revised from 151,137 KRW to 148,433 KRW (−1.8%) since Jul 22, 2026. Share price +23.5% over the past month.

A solid business, screening 102% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (110,978 KRW). The market is more pessimistic than our downside scenario.
  • Solid quality (56/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (110,978 KRW to 204,993 KRW) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

102,500 KRW 27,603 KRW Fair Value 148,433 KRW Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range 27,603 KRW – 102,500 KRW · fair‑value band 110,978 KRW – 204,993 KRW · the 73,500 KRW price screens below the 148,433 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

DL E&C Co (375500) currently trades at 73,500 KRW, while our model-based Fair Value estimate is 148,433 KRW, implying the stock looks roughly 102.0% undervalued today. The Quality Score stands at 56/100 (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, DL E&C Co generated revenue of 7.3T KRW at a net margin of 6.8%. Revenue declined 4.6% year over year. It earns a return on equity of 9.7%. Fundamentals as of Aug 13, 2026

Our scenario range runs from 110,978 KRW (bear case) to 204,993 KRW (bull case); at 73,500 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 31% below its 52-week high and 94% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -46% fair-value upside, at 102%, 375500 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 97,116 KRW 120,725 KRW 162,743 KRW 80
Residual Income 115,173 KRW 122,066 KRW 133,656 KRW 76
Rev-Margin DCF 108,481 KRW 147,899 KRW 195,688 KRW 74
All 22 models by family
DCF Models
FCF DCF 94,192 KRW 118,302 KRW 164,704 KRW 38
Owner Earnings 151,958 KRW 200,540 KRW 294,038 KRW 31
5Y Revenue Exit 108,481 KRW 146,610 KRW 202,137 KRW 39
5Y EBITDA Exit 118,841 KRW 164,553 KRW 225,109 KRW 41
5Y P/E Exit 141,926 KRW 204,532 KRW 279,104 KRW 38
10Y Revenue Exit 100,200 KRW 128,707 KRW 159,810 KRW 36
10Y EBITDA Exit 109,026 KRW 140,061 KRW 173,613 KRW 37
10Y P/E Exit 123,360 KRW 165,358 KRW 206,056 KRW 35
Earnings-Based
Graham-Dodd 67,028 KRW 81,923 KRW 92,164 KRW 54
EPV 89,117 KRW 98,265 KRW 106,396 KRW 59
Multiples
P/E Multiple 155,249 KRW 206,999 KRW 258,748 KRW 63
P/S Multiple 125,678 KRW 167,570 KRW 209,463 KRW 58
P/B Multiple 125,678 KRW 167,570 KRW 209,463 KRW 55
EV/EBIT 159,021 KRW 199,602 KRW 240,184 KRW 53
EV/EBITDA 149,628 KRW 187,079 KRW 224,529 KRW 54
EV/Revenue 124,169 KRW 161,408 KRW 198,648 KRW 43
Asset-Based
NCAV (Graham) 69,818 KRW 93,556 KRW 139,635 KRW 50
Growth DCF
Growth DCF 97,116 KRW 120,725 KRW 162,743 KRW 80
Rev-Margin DCF 108,481 KRW 147,899 KRW 195,688 KRW 74
Economic Profit
Residual Income 115,173 KRW 122,066 KRW 133,656 KRW 76
ROIC Compounder 89,117 KRW 98,265 KRW 106,396 KRW 72
Growth Earnings
Growth-Adj P/E 109,626 KRW 156,609 KRW 203,592 KRW 68

Widest divergence: Multiples (167,570 KRW) versus Earnings-Based (81,923 KRW). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 7.3T KRW
Revenue growth (YoY) -4.6%
Net margin 6.8%
Return on equity 9.7%
Free cash flow 209B KRW FY2025
Operating margin 8.9%
More key figures
Dividend yield 1.3%
EPS growth (YoY) +419%

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 56/100

Of which business quality 54 · Market factors (momentum, volatility) 61

Profitability 34
Margins and returns on capital today
Quality Growth 32
Are margins and returns improving?
Cashflow 37
Earnings quality: real cash, not paper profit
Fin. Strength 63
Balance sheet, leverage, solvency risk
Investment 85
Disciplined investing over empire-building
Low Volatility 48
Calm price path (market factor)
Momentum 62
Price trend over the last 3–12 months (market factor)
52W Momentum 74
Distance to the 52-week high (market factor)
Net Issuance 92
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

DL E&C Co.,Ltd., a construction company, provides engineering, procurement, and construction solutions in South Korea. The company undertakes various plant works in refinery/gas, petrochemical, energy, industrial facilities, environment, and other sectors; and offers civil works in road/bridge, port/water resources, and railroad/metro/tunnel.

Full company description

DL E&C Co.,Ltd., a construction company, provides engineering, procurement, and construction solutions in South Korea. The company undertakes various plant works in refinery/gas, petrochemical, energy, industrial facilities, environment, and other sectors; and offers civil works in road/bridge, port/water resources, and railroad/metro/tunnel. It also builds office/commercial, cultural/sports, hotel/resort, education/healthcare, and logistics centers; and provides housing works, such as apartments, and residential and commercial; and redevelopment, reconstruction, and remodeling services. DL E&C Co.,Ltd. was incorporated in 1939 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

DL E&C Co reported revenue of 7.4T KRW in FY2025 versus 7.6T KRW in FY2021, a compound −0.8%/yr. Reported net income was 370B KRW in FY2025, compounding −10.5%/yr from FY2021.

Growth Quality 62/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
7.4T KRW
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.
+2.9%
Revenue −0.8%/yr
FY21 7.6T KRW
FY22 7.5T KRW
FY23 8.0T KRW
FY24 8.3T KRW
FY25 7.4T KRW
Net income −10.5%/yr
FY21 577B KRW
FY22 413B KRW
FY23 188B KRW
FY24 229B KRW
FY25 370B KRW

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Cite: Fair Value Calculator (2026). "DL E&C Co Fair Value". https://www.fairvalue-calculator.com/stock/375500

Peer Group

Engineering & Construction · 839 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 56 · Above median
Fair Value upside +102% · Top 25%
Return on equity (TTM) 10% · Above median
Return on assets 2% · Below median
Net margin (TTM) 7% · Above median
Operating margin (TTM) 9% · Above median
Revenue growth -5% · Below median
Dividend yield (TTM) 1.5% · Below median
Debt / equity 0.09× · Lower than median

Valuation Multiples vs Engineering & Construction 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 14
FUTURE 0 · sector 14
PAST 39 · sector 26
HEALTH 96 · sector 94
DIVIDEND 30 · sector 33

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 Engineering & Construction stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Larsen & Toubro Limited LT ₹4,020 ₹1,994 -50%
Samsung C&T Corporation 028260 357,500 KRW 261,411 KRW -27%
Hyundai Engineering & Construction Co 000720 113,700 KRW 61,453 KRW -46%
Samsung E&A Co 028050 49,300 KRW 43,624 KRW -12%
Rail Vikas Nigam Limited RVNL ₹230.00 ₹48.92 -79%
Daewoo Engineering & Construction Co 047040 18,400 KRW 6,507 KRW -65%
KEPCO Engineering & Construction Company 052690 99,800 KRW 19,346 KRW -81%
GS Engineering & Construction Corporation 006360 35,200 KRW 23,135 KRW -34%
KEPCO Plant Service & Engineering Co 051600 45,400 KRW 43,924 KRW -3%
HJ Shipbuilding & Construction Co 097230 17,910 KRW 9,051 KRW -49%

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Frequently asked questions

Is DL E&C Co (375500) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 148,433 KRW versus a price of 73,500 KRW, about +102% (undervalued).
What is the fair value of 375500?
Our model-based fair value for DL E&C Co is 148,433 KRW (as of Aug 13, 2026), built from audited fundamentals. The current price is 73,500 KRW.
What is the quality score of 375500?
DL E&C Co has a Quality Score of 56/100. 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 DL E&C Co (375500)?
DL E&C Co reported trailing-twelve-month revenue of about 7.3T KRW (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 375500?
The net profit margin of DL E&C Co is about 6.8%, meaning it keeps roughly 6.8% of revenue as net income. Based on the latest reported figures.
Does DL E&C Co pay a dividend?
DL E&C Co currently shows a dividend yield of about 1.27% relative to its recent price (as of Aug 13, 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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