Industrial Bank Of Korea (024110) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of Industrial Bank Of Korea stock KRW 29,390, price KRW 19,450, upside +51.1%, quality 42 out of 100. Rating: strongly undervalued. Calculated from audited financials with 6 of our 26 valuation models and 37 quality factors, updated daily.
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Industrial Bank Of Korea
024110 · KOThe stock costs 34% less than our calculation considers fair.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 5, 2026.
How to read this chart
60‑month range 6,744 KRW – 27,279 KRW · fair‑value band 22,043 KRW – 43,901 KRW · the 19,450 KRW price screens below the 29,390 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 5, 2026.
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Company profile
Industrial Bank of Korea operates as a small and medium-sized enterprise (SME) financing bank in Korea and internationally.
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It provides personal and corporate banking, such as check, transfer, deposit/trust, fund, insurance, credit card, loan, forex, dues, check/draft, information management, retirement pension, and B2B; and provides various financial products and services, including personal and corporate product mail, product guide and tree; smart finance; banking, product, and affiliate services; and customer preferential service, as well as financial information for corporate management support, legal support, stock, real estate, and auction/public auction.
The company also offers card information/application, card finance loan, My card management, personal and corporate card services, and guide.
In addition, it provides customer consultation, financial consumer portal, report loss, information on application for fraudulent use charger, reference room, bank usage information, event, privacy policy, customer verification, system information, door-to door sales, personal inquiry, and loan originator integrated.
Further, the company offers electronic financial fraud prevention, security measures, financial transaction precautions, PC security service, overseas IP blocking service, new deposit account designation, service with limited usage time, and delayed transfer; engages in SME, retail, and investment banking; and capital markets.
Industrial Bank of Korea was founded in 1961 and is headquartered in Seoul, South Korea.
Stock analysis
Industrial Bank Of Korea (024110) currently trades at 19,450 KRW, while our model-based Fair Value estimate is 29,390 KRW, implying the stock looks roughly 34% undervalued today.
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Valuation
Bull case: the Economic Profit group reads highest at a median of 40,950 KRW per share, and 4 of the 6 models we run sit above the 19,450 KRW price.
Bear case: the Multiples group reads lowest at 14,583 KRW, and 2 of the 6 models stay below the price. Data coverage for this calculation is medium.
Scenario range: 22,043 KRW (bear) to 43,901 KRW (bull), the price of 19,450 KRW sits below 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 42/100 (below-average quality), in the Financial Services sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Industrial Bank Of Korea reported revenue of 10.0T KRW in FY2025 versus 7.9T KRW in FY2021, a compound +5.9%/yr. Reported net income was 2.7T KRW in FY2025, compounding +3.0%/yr from FY2021.
Key figures
Market cap 15.5T KRW (≈ $11.4B) Large · P/E ratio 6.5 · P/S ratio 1.76 · EPS (TTM) 3,077 KRW · Dividend yield 6.5% · Net margin 27.2% · Return on equity 7.3% · Return on assets (EBIT) 0.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 62 out of 100 (low confidence).
What moves the price
The share trades about 29% below its 52-week high and 5% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −35% fair-value upside, at 51%, 024110 screens cheaper than that median.
Fair Value models
All 6 models by family
Quality Score breakdown
It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.
Revenue & earnings trend
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Compare Industrial Bank Of Korea with another stock
Price, fair value, quality and upside side by side.
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.Banks - Regional · 1002 stocks
Valuation Multiplesvs Banks - Regional median · lower = cheaper
Strength profile in five axes (Snowflake)
Context: sector, industry, market
- Is the Financials sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Net margin by industry
- P/B ratio by industry
- Stock screener with 62 metrics
- Undervalued stocks: South Korean Stocks
- Valuation of the Korea market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Banks - Regional stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value | Compare |
|---|---|---|---|---|
| Postal Savings Bank of China Co 601658 | ¥5.52 | ¥7.59 | +38% | vs 024110 |
| China Merchants Bank Co 600036 | ¥42.54 | ¥52.73 | +24% | vs 024110 |
| BNP Paribas SA BNP | €91.94 | €106.01 | +15% | vs 024110 |
| Intesa Sanpaolo S.p.A ISP | €6.27 | €4.59 | −27% | vs 024110 |
| UniCredit S.p.A UCG | €77.18 | €50.44 | −35% | vs 024110 |
| Oversea-Chinese Banking Corporation O39 | 27.93 SGD | 18.20 SGD | −35% | vs 024110 |
| Mizuho Financial Group MFG | $9.39 | $5.90 | −37% | vs 024110 |
| DBS Group D05 | 71.20 SGD | 40.39 SGD | −43% | vs 024110 |
| HDFC Bank Limited HDFCBANK | ₹760.00 | ₹406.39 | −47% | vs 024110 |
| ICICI Bank Limited ICICIBANK | ₹1,500 | ₹615.63 | −59% | vs 024110 |
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Frequently asked questions
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Key figures of Industrial Bank Of Korea
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