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JGC Corp (JGCCY) Fair Value & Analysis

Industrials · US · Market cap $4.2B · ISIN US4661401004

What is JGC Corp really worth?

JC JGC Corp logo JGC Corp JGCCY · US
Price$26.57
Fair Value$48.54
Upside+82.7%
Quality69/100

A solid business, trading 45% below our fair value of $48.54.

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Strengths

Low debt · generates free cash flow
Ranks above peers (10/11)

Risks

!Mixed Growth (revenue 5y +12.7 %/yr)
!Thin margins · 5.6% net margin
!Narrow moat 38/100
!Evidence only medium, so the estimate is less certain

For context

·2.20% dividend yield
Evidence: Medium Range $36.98 – $60.67

Fair value as of: Aug 28, 2026

From 23 valuation models · updated 8 days ago

Share price +0.1% 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 is below even our cautious bear case ($36.98). The market is more pessimistic than our downside scenario.
  • Solid quality (69/100) at a price below fair value, the discount is the argument here, not the business quality.

Price vs Fair Value (5 years)

$34.95 $10.71 Fair Value $48.54 Jul 2019 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 28, 2026.

How to read this chart

60‑month range $10.71 – $34.95 · fair‑value band $36.98 – $60.67 · the $26.57 price screens below the $48.54 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 28, 2026.

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Analysis

JGC Corp (JGCCY) currently trades at $26.57, while our model-based Fair Value estimate is $48.54, implying the stock looks roughly 45.3% undervalued today. The Quality Score stands at 69/100 (solid quality), in the Industrials sector. Bull case: the DCF Models group reads highest at a median of $59.05 per share, and 20 of the 23 models we run sit above the $26.57 price. Bear case: the Asset-Based group reads lowest at $15.05, and 3 of the 23 models stay below the price. Evidence for this calculation is medium.

Over the trailing twelve months, JGC Corp generated revenue of $745B at a net margin of 5.6%. Revenue declined 29.7% year over year. It earns a return on equity of 10.2%. The balance sheet holds a net cash position of $367B. Fundamentals as of Aug 28, 2026

Our scenario range runs from $36.98 (bear case) to $60.67 (bull case); at $26.57, 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 24% below its 52-week high and 60% 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 83%, JGCCY screens cheaper 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
FCF DCF best evidence $56.84 $72.63 $94.24 82
Growth DCF $57.79 $72.33 $91.37 80
Owner Earnings $41.83 $51.33 $64.32 78
All 23 models by family
DCF Models
FCF DCF best evidence $56.84 $72.63 $94.24 82
Owner Earnings $41.83 $51.33 $64.32 78
5Y Revenue Exit $43.75 $53.12 $64.34 74
5Y EBITDA Exit $47.08 $59.05 $72.20 77
5Y P/E Exit $53.22 $69.99 $86.61 72
10Y Revenue Exit $47.99 $57.20 $68.10 68
10Y EBITDA Exit $50.52 $61.12 $73.71 70
10Y P/E Exit $54.27 $68.35 $83.99 65
Earnings-Based
Graham-Dodd $15.72 $37.34 $48.12 65
PEG = 1.0 $6.49 $9.27 $12.05 57
EPV $28.07 $29.47 $30.69 74
Multiples
P/E Multiple $36.41 $48.54 $60.68 63
P/S Multiple $29.47 $39.29 $49.12 58
P/B Multiple $29.47 $39.29 $49.12 55
EV/EBIT $44.11 $52.43 $60.74 66
EV/EBITDA $44.35 $52.73 $61.12 67
EV/Revenue $36.98 $44.60 $52.23 54
Asset-Based
NCAV (Graham) $11.23 $15.05 $22.47 54
Growth DCF
Growth DCF $57.79 $72.33 $91.37 80
Rev-Margin DCF $43.75 $53.73 $64.67 74
Economic Profit
Residual Income $19.59 $21.77 $33.20 70
ROIC Compounder $28.41 $30.31 $32.25 72
Growth Earnings
Growth-Adj P/E $27.64 $39.48 $51.33 67

Widest divergence: DCF Models ($59.05) versus Asset-Based ($15.05). Highest evidence: FCF DCF (82).

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Key figures & financial health

P/E ratio 12.3
P/S ratio 0.69 P/E × margin
EPS (TTM) $2.16 price ÷ EPS = P/E 12.3
Dividend yield 2.2% payout 27.1%
Net margin 5.6% FY2026
Return on equity 10.2% TTM
More key figures
Profitability
Return on assets (EBIT) 1.7% avg 5y
Operating margin 4.9% TTM
Growth
Revenue (TTM) $745B TTM
Revenue growth (YoY) −29.7% 3y avg +9.2%
EPS growth (YoY) +234%
Balance sheet & cash flow
Free cash flow $71.1B FY2026
Net cash $367B FY2026

Figures from reported company fundamentals · as of Aug 28, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 69/100

Of which business quality 69 · Market factors (momentum, volatility) 62

Profitability 41
Margins and returns on capital today
Quality Growth 58
Are margins and returns improving?
Cashflow 67
Earnings quality: real cash, not paper profit
Fin. Strength 85
Balance sheet, leverage, solvency risk
Investment 86
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 68
Price trend over the last 3–12 months (market factor)
52W Momentum 66
Distance to the 52-week high (market factor)
Net Issuance 87
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

JGC Holdings Corporation, together with its subsidiaries, provides engineering, procurement, and construction services. It operates in two segments, Comprehensive Engineering, and Functional Materials Manufacturing.

Full company description

JGC Holdings Corporation, together with its subsidiaries, provides engineering, procurement, and construction services. It operates in two segments, Comprehensive Engineering, and Functional Materials Manufacturing. The Total Engineering segment is involved in the planning, design, procurement, construction, and commissioning services of machinery, facilities and plants for petroleum, petroleum refining, petrochemicals, gas, liquefied natural gas, etc. The Functional Materials Manufacturing segment manufacture and distributes products in catalyst, nanoparticle technology, hygiene and safety, electronic materials, and high-performance ceramic, and next generation energy sectors. In addition, the company provides consulting, real estate management, and water desalination, as well as sells oil and gas. It serves in Japan, Southeast Asia, the Middle East, Africa, North America, and internationally. The company was formerly known as JGC Corporation and changed its name to JGC Holdings Corporation in October 2019. JGC Holdings Corporation was incorporated in 1928 and is headquartered in Yokohama, Japan.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

JGC Corp reported revenue of $790B in FY2026 versus $428B in FY2022, a compound +16.5%/yr. Reported net income was $44.4B in FY2026.

Growth Quality 81/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2026)
$790B
Latest YoY
−7.9%
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.
+9.2%
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.
+12.7%
Avg. revenue growth/yr (29Y) 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.
+3.7%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+60.7% (58.5 + 2.2)
Revenue +16.5%/yr
FY22 $428B
FY23 $607B
FY24 $833B
FY25 $858B
FY26 $790B
Net income
FY22 −$35.6B
FY23 $30.7B
FY24 −$7.8B
FY25 −$398M
FY26 $44.4B

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Cite: Fair Value Calculator (2026). "JGC Corp Fair Value". https://www.fairvalue-calculator.com/stock/JGCCY

Peer Group

Engineering & Construction · 816 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 69 · Top 25%
Fair Value upside +83% · Top 25%
Return on equity (TTM) 10% · Above median
Return on assets 3% · Above median
Net margin (TTM) 6% · Above median
Operating margin (TTM) 5% · Above median
Revenue growth −30% · Bottom 25%
Dividend yield (TTM) 2.2% · Above median
Debt / equity 0.08× · Lower than median

Valuation Multiples vs Engineering & Construction median · lower = cheaper

P/E (TTM) 12.3× · Cheaper than median
P/FCF 0.1× · 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
VALUE100 · sector 16
FUTURE0 · sector 11
PAST41 · sector 26
HEALTH96 · sector 94
DIVIDEND44 · sector 39

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 Engineering & Construction stocks, each showing price versus our Fair Value estimate (as of Aug 28, 2026).

Stock Price Fair Value vs Fair Value
Quanta Services, Inc PWR $620.06 $143.92 −77%
Vinci SA DG €114.35 €185.62 +62%
Comfort Systems USA, Inc FIX $1,615 $519.97 −68%
Larsen & Toubro Limited LT ₹4,072 ₹2,196 −46%
Ferrovial N.V FER €57.28 €19.17 −67%
HOCHTIEF Aktiengesellschaft HOT €426.40 €203.87 −52%
Samsung C&T Corporation 028260 373,000 KRW 261,411 KRW −30%
EMCOR Group EME $775.04 $549.47 −29%
MasTec, Inc MTZ $241.00 $100.00 −59%
Bouygues SA EN €46.65 €65.67 +41%

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Frequently asked questions

Is JGC Corp (JGCCY) overvalued or undervalued?
As of Aug 28, 2026, our model estimates a fair value of $48.54 versus a price of $26.57, about +83% upside (undervalued).
What is the fair value of JGCCY?
Our model-based fair value for JGC Corp is $48.54 (as of Aug 28, 2026), built from audited fundamentals. The current price: $26.57.
What is the quality score of JGCCY?
JGC Corp has a Quality Score of 69/100. 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 JGC Corp (JGCCY)?
JGC Corp reported trailing-twelve-month revenue of about $745B (latest available figure, as of Aug 28, 2026).
What is the net profit margin of JGCCY?
The net profit margin of JGC Corp is about 5.6%, meaning it keeps roughly 5.6% of revenue as net income. Based on the latest reported figures.
Does JGC Corp pay a dividend?
JGC Corp currently shows a dividend yield of about 2.20% relative to its recent price (as of Aug 28, 2026).
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