EN DE
Watch Firstec for free: we tell you when fair value or trend changes.
Data-driven stock valuation

Firstec (010820) fair value: what the stock is really worth

As of Nov 6, 2026: fair value (intrinsic value) of Firstec stock KRW 2,471, price KRW 4,255, that is 41.9% below the price, quality 46 out of 100. Rating: strongly overvalued. Calculated from audited financials with 15 of our 26 valuation models and 37 quality factors, updated daily.

  1. Keep an eye on it?Free in your watchlist: 5 stocks without an account, 10 with one Yes, for free

Industrials KR · ISIN KR7010820009

F Firstec logo Thin data Nov 5, 2026

Firstec

010820 · KO
Very expensive, weak quality

Our calculation puts a fair price 42% below what the stock costs today.

Low debt
Generates free cash flow over the last twelve months
Quality 46/100
Expensive Growth (revenue 5y +17.4 %/yr in KRW)
Thin margins · 5.0% net margin (FY2025)
Mixed vs. peers (4/10)
Revenue last quarter 22% below a year ago.
Fair value 2,471 KRW · Strongly overvalued
Narrow moat 22/100 · thin data
Thin data
Watch Firstec for free: we tell you when fair value or trend changes. Watch for free

What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

16,360 KRW 1,950 KRW Fair Value 2,471 KRW Jun 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 5, 2026.

How to read this chart

60‑month range 1,950 KRW – 16,360 KRW · fair‑value band 2,240 KRW – 3,172 KRW · the 4,255 KRW price screens above the 2,471 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 5, 2026.

Follow Firstec in your weekly email

Every Wednesday you see whether Firstec is on track or worth a review, plus price against fair value. Free, up to 3 stocks.

We send you a confirmation link. Unsubscribe with one click.

Which stocks are undervalued right now? Check free Discover now →

Company profile

FIRSTEC Co., Ltd engages in the design, manufacture, and sale of various products for defense industry worldwide.

Show moreShow less

It offers guided weapon products, including drive, guidance control, launch control, and wiring devices; electric battlefields, cooling systems, and automatic fire extinguishing systems for mobility and firepower systems; avionics, driving device, propulsion/fuel, environmental control, and structural test devices for aerospace industry; mechanical devices and cooling systems for submarines, ships, and minelayers; and aerial and ground drones, and maritime unmanned aerial vehicles.

The company was founded in 1975 and is headquartered in Changwon-Si, South Korea.

Stock analysis

Firstec (010820) currently trades at 4,255 KRW, while our model-based Fair Value estimate is 2,471 KRW, 42% below the price, so the stock looks overvalued today.

Show more

Valuation

Bull case: the Growth Earnings group reads highest at a median of 4,703 KRW per share, and 5 of the 15 models we run sit above the 4,255 KRW price.

Bear case: the Asset-Based group reads lowest at 1,088 KRW, and 10 of the 15 models stay below the price. Data coverage for this calculation is low.

Scenario range: 2,240 KRW (bear) to 3,172 KRW (bull), the price of 4,255 KRW sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 46/100 (below-average quality), in the Industrials sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Firstec reported revenue of 295B KRW in FY2025 versus 137B KRW in FY2021, a compound +21.2%/yr. Reported net income was 14.7B KRW in FY2025, compounding +39.6%/yr from FY2021.

Key figures

Market cap 208B KRW (≈ $153M) Micro · P/S ratio 1.89 · EPS (TTM) −441.45 KRW · Net margin −15.8% · Return on equity −33.8% · Return on assets (EBIT) 1.7% (5-year average) · Operating margin −29.5% · Revenue (TTM) 136B KRW.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 22 out of 100 (low confidence).

What moves the price

The share trades about 74% below its 52-week high and 13% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Industrials peers we cover trades at −23% fair-value upside, at −42%, 010820 screens richer than that median.

Fair Value models

Bear 2,240 KRW Fair Value 2,471 KRW Bull 3,172 KRW
Price 4,255 KRW · Downside -41.9%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
Owner Earnings 1,529 KRW 1,773 KRW 2,076 KRW 78
EPV 2,173 KRW 2,308 KRW 2,415 KRW 74
ROIC Compounder 2,240 KRW 2,471 KRW 2,716 KRW 72
All 15 models by family
DCF Models
Owner Earnings 1,529 KRW 1,773 KRW 2,076 KRW 78
Earnings-Based
Graham-Dodd 2,053 KRW 7,281 KRW 9,801 KRW 64
Lynch FV 1,708 KRW 2,440 KRW 3,172 KRW 61
PEG = 1.0 1,708 KRW 2,440 KRW 3,172 KRW 57
EPV 2,173 KRW 2,308 KRW 2,415 KRW 74
Multiples
P/E Multiple 4,756 KRW 6,341 KRW 7,926 KRW 63
P/S Multiple 3,850 KRW 5,133 KRW 6,417 KRW 58
P/B Multiple 3,231 KRW 4,308 KRW 5,385 KRW 55
EV/EBIT 2,521 KRW 3,450 KRW 4,379 KRW 66
EV/EBITDA 2,412 KRW 3,305 KRW 4,197 KRW 67
EV/Revenue 1,723 KRW 2,575 KRW 3,428 KRW 53
Asset-Based
NCAV (Graham) 811.69 KRW 1,088 KRW 1,623 KRW 54
Economic Profit
Residual Income 1,567 KRW 1,869 KRW 2,515 KRW 71
ROIC Compounder 2,240 KRW 2,471 KRW 2,716 KRW 72
Growth Earnings
Growth-Adj P/E 3,292 KRW 4,703 KRW 6,114 KRW 67

Open the full fair value analysis →

Quality Score breakdown

Overall quality 46/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 39
How much profit the company makes from its sales and capital
Quality Growth 78
Are margins and returns getting better?
Cashflow 0
Do the profits arrive as real cash?
Financial strength 53
Debt, balance sheet and risk of trouble
Investment 45
Does it invest with discipline instead of growing at any price?
Low Volatility 20
How calm the share price moves, does not count
Price momentum 27
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 15
Distance to the 52-week high, does not count
New shares 79
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 58/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+42.2%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+22.6%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+17.4%
Start year 2020 (pandemic). Over 10 years: +7.8% a year
Revenue growth 22 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+4.4%
What shareholders gained per year (last 5 years), in KRW (mathematically smoothed) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. Measured in KRW: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+34.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year+34.9%
Dividend (yield on the price)0.0%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.3% → 4%
2025 sits 219% above its own trend. The rate follows the median trend of the last 5 years, not that single year.

010820 screens overvalued: fair value 42% below the price. Compare with General Electric Company →

Compare Firstec with another stock

Price, fair value, quality and upside side by side.

Free, no sign-up

Peer Groupⓘ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.Aerospace & Defense · 238 stocks

Beats the industry median on 4/9 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 46 · Below median
Fair Value upside −41.9% · Above median
Profitability
Return on assets 3.7% · Below median
Net margin (12 months) 5.0% · Below median
Operating margin (12 months) −29.5% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) −21.7% · Bottom 25%
Balance sheet
Debt / equity 0.07× · Below median

Valuation Multiplesvs Aerospace & Defense median · lower = cheaper

P/B 2.52× · Cheaper than median
P/S (12 months) 1.52× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 0
FUTURE (revenue growth)0 · sector 65
PAST (return on equity)0 · sector 41
HEALTH (low debt)97 · sector 94
DIVIDEND (yield)0 · sector 19

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

Weapons Defense

Similar stocks

10 more Aerospace & Defense stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
TransDigm Group TDG $1,197 $1,317 +10% vs 010820
Honeywell Aerospace Inc HONA $152.92 $168.21 +10% vs 010820
Lockheed Martin Corporation LMT $567.08 $439.21 −23% vs 010820
General Dynamics Corporation GD $354.06 $274.19 −23% vs 010820
Thales S.A HO €221.70 €170.99 −23% vs 010820
Northrop Grumman Corporation NOC $525.01 $382.98 −27% vs 010820
Airbus SE AIR €196.40 €112.14 −43% vs 010820
RTX Corporation RTX $189.53 $88.19 −53% vs 010820
General Electric Company GE $323.24 $92.26 −71% vs 010820
Howmet Aerospace Inc HWM $205.81 $52.65 −74% vs 010820

Explore undervalued stocks

More undervalued Industrials stocks →

All undervalued stocks TechnologyFinancial ServicesHealthcareConsumer CyclicalConsumer DefensiveCommunication ServicesIndustrialsEnergyBasic MaterialsReal EstateUtilities Deeply Undervalued StocksUndervalued High-Quality StocksUndervalued Blue-Chip StocksUndervalued Small-Cap StocksUndervalued Dividend StocksUndervalued 52-Week Low Stocks

Try a ready-made strategy

Pick a strategy and jump into the live analysis with that exact screen applied.

🥇 Backtested Best 🏆 Big Names 💎 Quality on Sale 🚀 Profitable Growth 🧊 Quality Compounders 💵 Dividend Stars 📈 Strong Momentum 📉 Fallen Angels ⚖️ Deeply Undervalued 🔍 Small-Cap Gems 🏰 Moat at a Fair Price 💼 Insider Buying 🎩 Buffett-Style Quality 📚 Peter Lynch GARP 🧮 Greenblatt Magic Formula 🛡️ Graham Defensive

Discover tools

Stock screenerFilter by region, size and sector Compare toolTwo stocks side by side Extrinsic Value Calculator…Free calculator Peter Lynch Fair Value Formula &…Free calculator
Run the numbers yourself: free valuation calculators
DCF CalculatorP/E Ratio CalculatorPEG Ratio CalculatorGraham NumberPeter Lynch FormulaDDM CalculatorIntrinsic ValueIntrinsic vs Extrinsic ValueP/E Ratio by Sector
For bloggers & editors: embed code + live data

For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.

Firstec: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Firstec Fair Value". https://www.fairvalue-calculator.com/stock/010820

Frequently asked questions

Is Firstec (010820) overvalued or undervalued?
As of Nov 5, 2026, our model estimates a fair value of 2,471 KRW versus a price of 4,255 KRW, about 42% lower (overvalued).
What is the fair value of 010820?
Our model-based fair value for Firstec is 2,471 KRW (as of Nov 5, 2026), built from audited fundamentals. The current price: 4,255 KRW.
What is the quality score of 010820?
Firstec has a Quality Score of 46/100. 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 price target for Firstec (010820)?
Our model-based price target is the fair value of 2,471 KRW (as of Nov 5, 2026) from 15 valuation models. Cautious scenario 2,240 KRW, optimistic scenario 3,172 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Firstec stock forecast for 2026?
Our models put fair value at 2,471 KRW, about 42% lower versus a price of 4,255 KRW (overvalued). Cautious scenario 2,240 KRW, optimistic scenario 3,172 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Firstec (010820)?
Firstec reported trailing-twelve-month revenue of about 136B KRW (latest available figure, as of Nov 5, 2026).
What is the intrinsic value of Firstec (010820)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Firstec it is 2,471 KRW per share (as of Nov 5, 2026), against a price of 4,255 KRW. It is the blended result of 15 valuation models in 6 families (DCF Models, Earnings-Based, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is Firstec stock overvalued or undervalued in 2026?
As of Nov 5, 2026, 010820 trades above its calculated fair value: price 4,255 KRW, fair value 2,471 KRW, a gap of about −42% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 010820?
No. The price is what the market pays today (4,255 KRW); the fair value is what the company's own numbers justify (2,471 KRW). For Firstec the two are 1,784 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Firstec worth?
The market values Firstec at about 208B KRW (market capitalisation, as of Nov 5, 2026). Per share that is 4,255 KRW; our models calculate a fair value of 2,471 KRW per share.
What do the bullish and bearish scenarios say about 010820?
Our models span a range for Firstec: cautious scenario 2,240 KRW, base 2,471 KRW, optimistic 3,172 KRW per share (as of Nov 5, 2026, price 4,255 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Firstec (010820)?
Balance-sheet figures for Firstec (as of Nov 5, 2026): return on equity −33.8%, debt of 0.07 per unit of equity. They feed the Quality Score of 46/100, which measures business quality independently of the share price.
How far is 010820 from its 52-week high?
Firstec trades at 4,255 KRW, about 74% below its 52-week high of 16,360 KRW and 13% above the low of 3,750 KRW (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 2,471 KRW is for.
Which stocks are comparable to Firstec?
From the same area (Industrials) we also value General Electric Company, RTX Corporation, Airbus SE, Lockheed Martin Corporation, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Firstec stock attractive at the current price?
The data as of Nov 5, 2026: price 4,255 KRW, calculated fair value 2,471 KRW (−42%), Quality Score 46/100, from 15 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 010820 calculated?
We run Firstec through 15 models from 6 families: DCF Models, Earnings-Based, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 2,471 KRW builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. Firstec itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Firstec (010820)?
The closing price on Nov 6, 2026 was 4,255 KRW. Our model-based fair value is 2,471 KRW, about 42% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Firstec right now?
The price sits above even our optimistic bull case (3,172 KRW). The favourable scenario is already priced in. Weak quality (46/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.

Key figures of Firstec

How large is the market capitalisation of Firstec (010820)?
The market capitalisation of Firstec is 208B KRW (≈ $153M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Firstec (010820)?
The price-to-sales ratio of Firstec is 1.89 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Firstec (010820)?
Earnings per share at Firstec are −441.45 KRW. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Firstec (010820)?
The net margin of Firstec is −15.8% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Firstec (010820)?
The return on equity (ROE) of Firstec is −33.8% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Firstec (010820)?
On an EBIT basis the return on assets of Firstec is 1.7% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Firstec (010820)?
The operating margin of Firstec is −29.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Firstec (010820)?
Revenue at Firstec is growing −21.7% versus a year earlier (3y avg +22.6%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Firstec (010820) generate?
The free cash flow of Firstec is −25.0B KRW (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Firstec (010820) carry?
The net debt of Firstec is 13.0B KRW (fiscal year 2018). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
Free · no account needed

Watch Firstec in the live analysis

One click puts Firstec on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 27,000+ stock screener.

Watch for free →

Zero risk: nothing is ever charged. Your watchlist is yours, with or without an account.