KOSDAQ (KOSDAQ) · Industrials

Cheryong Industrial Co., Ltd. 147830

Buy candidateScore band: 70–80

Last evaluation: 2026-09-11
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The thesis, in one sentence

A Korean line-hardware supplier that sells exclusively to the state utility through a cooperative has a real qualification moat and trades cheaply on its operating business once net cash is backed out, though the controlling family has never distributed from that cash pile.

Written for this site in plain English, without figures. The arithmetic is in the full report.

Key risks

A large share of recent profit is a portfolio revaluation, not operating income
Key qualification contracts are set to expire soon
The controlling family has never distributed from the cash pile

What would change the verdict

Quarterly revenue growth drops sharply
Operating margin falls for two consecutive quarters
Days sales outstanding rise for two consecutive quarters
Days inventory outstanding rise for two consecutive quarters

Read it yourself

Step five of the method is the reader's: open the latest annual or quarterly report and read it before acting on anything here. A score is a summary, and a summary is not understanding.

Filings at DART (FSS) →

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Price, one year

up daydown day

Daily bars for the last year, drawn relative to the latest close, with no price axis. The shape of the year, not a price.

DCF valuation range

range of the DCF modelsbase casetoday's price

Valuation range, shape only. Figures in the full version.

Monte Carlo outcome shape

scenarios below today's pricescenarios above today's pricetoday's price

Distribution of simulated outcomes around today's price. Bar heights only; the scale and the percentiles are in the full version.

Where the money goes

Last four reported quarters, 2025-09 → 2026-06, in KRW. Filings data as gathered on 2026-09-11. Figures rounded to three significant digits.

Full report contents

Sinteză executivă (1 pagină: teză, valoare estimată, verdict)
🔒 Afacerea și moat-ul (cum face banii, avantaj competitiv, durabilitate) (Available in the full report)
🔒 Management și alocarea capitalului (track record, buybacks/dividende/achiziții, skin in the game) (Available in the full report)
🔒 Ce s-a schimbat în ultimele 4 trimestre (bilanț poziție cu poziție din data pack, marje, cash conversion — explică FIECARE variație mare) (Available in the full report)
🔒 Analiza bilanțului — Quality of Earnings (metoda Thornton O'Glove) (Available in the full report)
🔒 Profilul CEO — trăsături de Outsider (metoda William Thorndike) (Available in the full report)
🔒 Red flags contabile (accruals, dilution, one-offs, schimbări de politici contabile) (Available in the full report)
🔒 Evaluare triangulată (DCF conservator cu ipoteze explicite + earnings power value + multipli istorici 5 ani + Monte Carlo de la pasul 5; interval, nu punct) (Available in the full report)
🔒 Pre-mortem (de ce ar putea fi greșită teza — 3 scenarii concrete) (Available in the full report)
🔒 Verdict comparat cu scorul GBL din tracker (convergență/divergență și de ce) (Available in the full report)

Evaluation history

Date	Verdict
2026-09-11	Buy candidate

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