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JONBUR Research · Initiation

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Korea Castiron Pipe IND · 000970 · Steel & Materials

Korea Castiron Pipe IND: Thin Margins, Low Debt and a Share Price Near Book Value

Why this report

Start of coverage: written when a reader opened this company and there was no report yet.

The data shows a steel and materials company with a ₩147.7B market cap, shrinking revenue since 2021 and modest profitability. It trades at 0.4x book with a 6.2% dividend yield, while the model estimate sits well below the current price.

Written Oct 19, 2026 · Data as of Oct 16, 2026 · 0 views

This is not financial advice. The report does not recommend buying or selling anything.

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Thesis

The data supports a picture of a financially conservative company: borrowings are ₩5.6B against cash of ₩44.1B, and liabilities are 20.7% of equity. The shares trade at 0.4x book and 8.7x earnings, with a dividend yield of 6.2%.

The data does not show growth. Revenue fell every year from ₩510.2B in 2021 to ₩406.6B in 2025, and ROE has stayed in a 3.5% to 5.0% range since 2022. Operating margin is 3.7% on a trailing basis. Net income (₩17.0B) is higher than operating income (₩15.0B), so some profit comes from non-operating items; the data does not break these down.

The low price-to-book multiple may reflect the low returns on equity. The data does not explain the market's pricing.

Business overview

Korea Castiron Pipe IND is listed on KOSPI in the Steel & Materials sector. It was founded on 1953-04-27 and listed on 1969-12-12, with 22,800,500 shares outstanding. It is led by three co-CEOs: 김태형, 이창훈 and 김영훈.

Market capitalization is ₩147.7B. The shares closed at ₩6,480 on 2026-10-16, within a 52-week range of ₩6,130 to ₩7,880. Returns were -2.6% over one month, -1.2% over three months and -5.1% over one year. Foreign ownership is 2.2%, down from 2.5% sixty days ago. Information on products and end markets is not available in the data.

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Model estimate of fair value

Bear
₩0
-100%
Base
₩3,486
-44%
Bull
₩9,949
+59%

Model estimate based on the assumptions shown. Not a price target and not a buy or sell signal.

Base case of the 5-year discounted cash flow model on the stock's Valuation tab (statements TTM to H1 2026; discount rate 7.5%). Bear and Bull move the main assumptions by fixed steps. See and change the assumptions

Filings and data used

Report history

  1. Oct 21, 2026Update noteModel fair value changeKorea Castiron Pipe IND: Model Fair Value Estimate Rises to ₩8,681 per Share
  2. Oct 19, 2026InitiationStart of coverage (reader request)Korea Castiron Pipe IND: Thin Margins, Low Debt and a Share Price Near Book Value

Built only from jonbur's own data: prices and investor flows, filed financial statements and filings, and news headlines. Disclosed (filed) data is labelled as such. Written by AI and may contain mistakes.

This is not financial advice. The report does not recommend buying or selling anything.

Source: KRX statistical information