000910.KS
Union Corporation

Basic Materials · Building Materials · valued as of 2026-11-03 · statements 2025-12-31

Average Intrinsic Value

44.89M USD

Market Cap

34.83M USD

Margin of Safety

22.4%

Intrinsic / Market Ratio

1.29×

Projections, not exact values. Intrinsic Values are projected from each company's past reports. They show which stocks look cheap compared with the others, not exactly what a stock is worth.

How Each Value Is Built

The screener's three formulas on the reported figures. Each card reads the same way: the value as a sum of numbered terms, each term's calculation opened under it, from the reported figures to the value. The list ranks companies by their plain average over the market cap.

EPV + Growth

-84.13M USD

what the normal year's earnings are worth for ever, plus growth that pays

Profit

109.41M USD

15 years of cash the shareholders can take out, and the equity left at year 15

FCFF

109.41M USD

15 years of cash for shareholders and lenders, less what is owed

Intrinsic Value

44.89M USD

the plain average of the three, uncapped, as the screener averages them

Intrinsic Value

44.89M USD

from the sum above

Market Cap

34.83M USD

the price on the date above times the shares

Intrinsic Value ÷ Market Cap

1.29×

the ratio the screener ranks by; Margin of Safety +22.4% (1 − Market Cap ÷ Intrinsic Value)

Each card below builds one of the three values from the reported years.

Earnings power value plus growth: -84.13M USD
What the normal year's operating profit after tax is worth if it lasts for ever, plus what the new investment adds beyond its cost, less the net debt that comes before the shareholders (or plus the net cash).
①EPV (earnings power value)6.94M USD
−②Net Debt Today91.07M USD
+③Growth Value0 USD
=Value-84.13M USD

EPV of the Operations (NOPAT over WACC)

6.94M USD

Net debt today

-91.07M USD

Growth Value

0 USD

Value

-84.13M USD

①EPV (earnings power value)

6.94M USD

②Net Debt Today

91.07M USD

③Growth Value

0 USD

Market value

Market Cap34.83M USD

The price on the date above times the shares.

Value vs market

Margin of Safety—

1 minus the market cap as a share of the value.

Profit value: today's value of the shareholders' equity, from the cash it can pay them (FCFE): 109.41M USD
Fifteen years of free cash flow to equity (FCFE), each brought to today at the cost of equity, plus the equity at year 15 brought to today.

The projection was not made (a profit at or below zero in the latest three years), so the value is the book value today, 109.41M USD, as the screener leaves it.

①Present Value of the 15 Years of FCFE

Not in the value

②Equity at Year 15, Today

Not in the value

Market value

Market Cap34.83M USD

The price on the date above times the shares.

Value vs market

Margin of Safety+68.2%

1 minus the market cap as a share of the value.

FCFF value: today's value of the shareholders' equity, from the cash the firm can pay its shareholders and lenders (FCFF): 109.41M USD
Fifteen years of free cash flow to the firm (FCFF), each brought to today at the WACC, plus the invested capital at year 15 brought to today, less the net debt today (or plus the net cash).

The projection was not made (a change in working capital above half the operating profit in the latest three years), so the value is the book value today, 109.41M USD, as the screener leaves it.

①Present Value of the 15 Years of FCFF

Not in the value

②Invested Capital at Year 15, Today

Not in the value

③Net Debt Today

Not in the value

Market value

Market Cap34.83M USD

The price on the date above times the shares.

Value vs market

Margin of Safety+68.2%

1 minus the market cap as a share of the value.

The Rates and the Capital the Values Read

The WACC and the cost of equity each value is discounted at, the book value and the net debt each starts from, and the seven quality metrics, from the same run.

WACC: 4.05%
Cost of Equity =Risk-Free Rate 4.50%+Beta 0.17×Market Risk Premium 6.00%= 5.53%

The yearly return the shareholders require for the risk they carry; it is the rate that brings their future cash to today.

Tax Rate for WACC =Tax Provision 5.34M USDPretax Income 23.14M USD= 23.09%

The tax the interest saves.

Interest Expense =EBIT 27.67M USD−Pretax Income 23.14M USD= 4.54M USD

The interest the company paid: EBIT is the profit before tax plus the interest.

Cost of Debt =Interest Expense 4.54M USDTotal Debt 98.91M USD×(1 − Tax Rate for WACC 23.09%)= 3.53%

What the lenders are paid a year after the tax the interest saves.

Debt Weight =Total Debt 98.91M USDMarket Cap + Total Debt 34.83M USD + 98.91M USD= 73.96%

The part of the capital the lenders put in, at market value.

WACC =Equity Weight 26.04%×Cost of Equity 5.53%+Debt Weight 73.96%×Cost of Debt 3.53%= 4.05%

Weighted average cost of capital: the yearly return the shareholders and the lenders together require, weighted by what each puts in; the rate that brings the firm's future cash to today.

Book value and net debt today
Both from the balance sheet of the newest quarter, 2026-06-30.

Total Assets 257.16M USD − Total Liabilities 147.75M USD = Book Value Today 109.41M USD

Total Debt 98.91M USD − Cash and Short-Term Investments 7.84M USD = Net Debt Today 91.07M USD

The book value is what Profit starts from and what stands when a projection is not made; the book value plus the net debt is what FCFF starts from; the net debt comes off Greenwald's and FCFF's values before the shareholders.

Quality metrics
Read beside the value, never a condition for it: every company is valued, and a filter in the list is the reader's choice.
MetricFrom
Share dilutionShares Today ÷ Shares Two Years Back − 10.0%at most 5%passes15,611,619 / 15,611,619
Accrual quality(Operating Cash Flow − Net Income) ÷ Total Assets-1.3%at least -10.0%passes(13.03M USD − 16.26M USD) ÷ 257.16M USD
Price to bookMarket Cap ÷ Book Value Today0.32×at most 3×passes34.83M USD ÷ 109.41M USD
Operating marginOperating Income ÷ Revenue2.7%above 10.0%does not pass3.83M USD ÷ 140.90M USD
Revenue growthRevenue ÷ Revenue a Year Before − 1-5.3%above 10.0%does not pass140.90M USD / 148.82M USD
Net cash(Cash − Total Debt) ÷ Market Cap-261.6%above -30%does not pass(7.79M USD − 98.91M USD) ÷ 34.83M USD
Operating efficiencyOperating Income ÷ Gross Profit16.1%above 25.0%does not pass3.83M USD ÷ 23.76M USD

Market Data

The provider's ratios and the analysts' consensus beside the argument; none of them enters a value.

Share price

2952.95 KRW

Enterprise value

207.81B KRW

the provider's own figure

EV / EBITDA

21.91×

Price / book

—

the provider's book

Price / earnings

—

Return on equity

46.6%

the provider's figure, not this page's

Profit margin

30.6%

Revenue growth

-1.0%

Analyst target, mean

—

Analysts

—

opinions in the consensus

Financial Statements

The annual lines the screener holds, year by year, in USD at each period's rate; the figures this valuation read are in its calculation above.

USD2022202320242025
Income statement

Revenue

186.64M175.98M148.82M140.90M

Gross profit

27.53M22.25M17.17M23.76M

Operating income

2.30M-1.56M-7.82M3.83M

EBITDA

operating income before depreciation and amortisation

2.45M16.92M-38.97M31.88M

Pretax income

-8.54M1.34M-51.77M23.14M

Net income

-8.03M5.72M-28.63M16.26M

Normalized income

net income without one-off items, as the data provider prints it; Profit's line when printed

1.67M1.19M11.51M-371.72K

R&D

2.39M2.86M2.54M2.07M
Balance sheet, year end

Total assets

298.74M299.90M208.38M232.09M

Total liabilities

160.09M161.96M139.07M141.90M

Shareholders' equity

the equity the parent's shareholders own, as printed, without minority interest; the book value the values read is total assets less total liabilities, in Book Value and Net Debt above

95.99M101.53M56.72M75.07M

Total debt

113.30M114.63M100.64M99.49M

Cash and equivalents

7.15M11.00M5.26M4.71M

Net PP&E

fixed assets after depreciation

135.62M121.07M85.04M88.24M

Working capital

current assets less current liabilities

5.93M-10.23M-23.82M-30.70M
Cash flow

Operating cash flow

-7.64M9.79M13.76M13.03M

Capital expenditure

paid out, so below zero

-21.58M-7.96M-5.66M-5.12M

Depreciation and amortisation

7.59M9.29M7.61M4.21M

Free cash flow

operating cash flow plus capital expenditure

-29.23M1.82M8.10M7.91M