ICD Co. Ltd (040910) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of ICD Co. Ltd stock KRW 10,350, price KRW 3,450, upside +200.0%, quality 68 out of 100. Rating: strongly undervalued. Calculated from audited financials with 14 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.
How to read this chart
60‑month range 3,450 KRW – 15,352 KRW · fair‑value band 6,100 KRW – 20,533 KRW · the 3,450 KRW price screens below the 10,350 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.
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ICD Co., Ltd. engages in the manufacture and sale of AMOLED, LCD, and semiconductor equipment in South Korea and internationally. The company offers DRY etcher and research-thermal evaporator.
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It also involves in bio and medical business by using plasma to develop devices and products for sterilization, medicine, cosmetics, etc. The company was founded in 2000 and is headquartered in Anseong-si, South Korea.
Stock analysis
ICD Co. Ltd (040910) currently trades at 3,450 KRW, while our model-based Fair Value estimate is 10,350 KRW, implying the stock looks roughly 67% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 10,393 KRW per share, and 10 of the 14 models we run sit above the 3,450 KRW price.
Bear case: the Earnings-Based group reads lowest at 1,884 KRW, and 4 of the 14 models stay below the price. Data coverage for this calculation is low.
Scenario range: 6,100 KRW (bear) to 20,533 KRW (bull), the price of 3,450 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 68/100 (solid quality), in the Technology sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
ICD Co. Ltd reported revenue of 197B KRW in FY2025 versus 116B KRW in FY2021, a compound +14.2%/yr. Reported net income was −1.9B KRW in FY2025.
Key figures
Market cap 56.9B KRW (≈ $42.0M) Micro · P/E ratio 9.5 · P/S ratio 0.39 · EPS (TTM) 365.65 KRW · Net margin 4.1% · Return on equity 6.1% · Return on assets (EBIT) −7.5% (5-year average) · Operating margin 6.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 29 out of 100 (low confidence).
What moves the price
The share trades about 47% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −7% fair-value upside, at 200%, 040910 screens cheaper than that median.
Fair Value models
Bear6,100 KRWFair Value 10,350 KRWBull20,533 KRW
Price 3,450 KRW · Upside +200.0%
Capped: our models arrive at a very high value here. We deliberately show a more cautious Fair Value.
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. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (313.56 KRW per share) are deliberately not added.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.
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.30/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+33.5%
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.
+9.3%
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.
−8.6%
Start year 2020 (pandemic)
Revenue growth 12 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.
+7.7%
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Profit margin (trend) ⓘ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.
11.8% (2019) → −20.4% (2024)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Growth Forecast
Price in line with expectations
The price assumes about as much growth as the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−10.1%
The company could shrink this much every year for the next five years and today's price would still be justified.
What forecasts expect
n/a
No analyst forecast available.
Calculated on free cash flow for fiscal year 2025. Over the last twelve months it was negative, so the figure above is uncertain.
After inflation (South Korea: IMF forecast 2.1% a year to 2030, 2.1% from 2016 to 2025) that is about −11.9% a year for the price.
Price, fair value, quality and upside side by side.
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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.Electronic Components · 653 stocks
Beats the industry median on 8/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score68 · Top 25%
Fair Value upside+200.0% · Top 25%
Profitability
Return on equity (12 months)6.1% · Below median
Return on assets−1.3% · Bottom 25%
Net margin (12 months)4.1% · Below median
Operating margin (12 months)6.1% · Below median
Growth and dividend
Revenue growth (quarter YoY)−66.2% · Bottom 25%
Balance sheet
Debt / equity0.01× · Lowest 25%
Valuation Multiplesvs Electronic Components median · lower = cheaper
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Is ICD Co. Ltd (040910) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of 10,350 KRW versus a price of 3,450 KRW, about +200% upside (undervalued).
What is the fair value of 040910?
Our model-based fair value for ICD Co. Ltd is 10,350 KRW (as of Nov 7, 2026), built from audited fundamentals. The current price: 3,450 KRW.
What is the quality score of 040910?
ICD Co. Ltd has a Quality Score of 68/100. 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 ICD Co. Ltd (040910)?
Our model-based price target is the fair value of 10,350 KRW (as of Nov 7, 2026) from 14 valuation models. Cautious scenario 6,100 KRW, optimistic scenario 20,533 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the ICD Co. Ltd stock forecast for 2026?
Our models put fair value at 10,350 KRW, about +200% upside versus a price of 3,450 KRW (undervalued). Cautious scenario 6,100 KRW, optimistic scenario 20,533 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of ICD Co. Ltd (040910)?
ICD Co. Ltd reported trailing-twelve-month revenue of about 145B KRW (latest available figure, as of Nov 7, 2026).
What growth is priced into ICD Co. Ltd (040910)?
For today's price to be fair in a discounted-cash-flow model, ICD Co. Ltd would have to grow free cash flow by -10.1 % per year for five years (discount rate 9.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -8.6 % per year. Calculated on free cash flow for fiscal year 2025. Over the last twelve months it was negative, so the figure above is uncertain. As of Nov 7, 2026.
What discount rate (WACC) does the fair value of 040910 use?
Our models discount ICD Co. Ltd at 9.6 %: a base by market capitalisation (nano), damped by beta 0.80, country premium for South Korea. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For ICD Co. Ltd that is -10.1 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (9.6 %) and the same formula as our fair value.
How much growth has ICD Co. Ltd (040910) delivered so far?
Over the past 5 years revenue at ICD Co. Ltd grew -8.6 % a year. The price currently implies free-cash-flow growth of -10.1 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of ICD Co. Ltd (040910) growing?
The median revenue growth in the sector is +11.5 % a year. That is the yardstick for the growth priced into ICD Co. Ltd (-10.1 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of ICD Co. Ltd (040910)?
The free-cash-flow yield on the price is 12.66 % in the last fiscal year (free cash flow was negative over the last twelve months): that much free cash flow ICD Co. Ltd produces per unit of market value. When it exceeds the discount rate of our models (9.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of ICD Co. Ltd (040910)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For ICD Co. Ltd it is 10,350 KRW per share (as of Nov 7, 2026), against a price of 3,450 KRW. It is the blended result of 14 valuation models in 6 families (DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit).
Is ICD Co. Ltd stock overvalued or undervalued in 2026?
As of Nov 7, 2026, 040910 trades below its calculated fair value: price 3,450 KRW, fair value 10,350 KRW, a gap of about +200% (undervalued). 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 040910?
No. The price is what the market pays today (3,450 KRW); the fair value is what the company's own numbers justify (10,350 KRW). For ICD Co. Ltd the two are 6,900 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is ICD Co. Ltd worth?
The market values ICD Co. Ltd at about 56.9B KRW (market capitalisation, as of Nov 7, 2026). Per share that is 3,450 KRW; our models calculate a fair value of 10,350 KRW per share.
What do the bullish and bearish scenarios say about 040910?
Our models span a range for ICD Co. Ltd: cautious scenario 6,100 KRW, base 10,350 KRW, optimistic 20,533 KRW per share (as of Nov 7, 2026, price 3,450 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 040910?
ICD Co. Ltd trades at a price-to-earnings ratio of 9.5 (as of Nov 7, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 10,350 KRW is built from several models across several years. Median P/E at fiscal year-end, 6 fiscal years (2016 to 2021), reported earnings: 18.5. Other multiples: P/B 0.6, P/S 0.4, EV/EBITDA 14.7.
How solid is the balance sheet of ICD Co. Ltd (040910)?
Balance-sheet figures for ICD Co. Ltd (as of Nov 7, 2026): return on equity 6.1%, debt of 0.01 per unit of equity. They feed the Quality Score of 68/100, which measures business quality independently of the share price.
How far is 040910 from its 52-week high?
ICD Co. Ltd trades at 3,450 KRW, about 47% below its 52-week high of 6,470 KRW and at the low of 3,450 KRW (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 10,350 KRW is for.
Which stocks are comparable to ICD Co. Ltd?
From the same area (Technology) we also value Amphenol Corporation, Hon Hai Precision Industry Co, Corning Incorporated, Delta Electronics, Inc, 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 ICD Co. Ltd stock attractive at the current price?
The data as of Nov 7, 2026: price 3,450 KRW, calculated fair value 10,350 KRW (+200%), Quality Score 68/100, from 14 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 040910 calculated?
We run ICD Co. Ltd through 14 models from 6 families: DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit. Every model gets the same audited fundamentals; the fair value of 10,350 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. ICD Co. Ltd currently trades 67% below its own fair value, and the market average says nothing about that. 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 ICD Co. Ltd (040910)?
The closing price on Nov 6, 2026 was 3,450 KRW. Our model-based fair value is 10,350 KRW, about +200% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with ICD Co. Ltd right now?
The price is below even our cautious bear case (6,100 KRW). The market is more pessimistic than our downside scenario. The model range is unusually wide (6,100 KRW to 20,533 KRW). The outcome hinges heavily on assumptions, so read the point estimate with caution. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (68/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of ICD Co. Ltd
How large is the market capitalisation of ICD Co. Ltd (040910)?
The market capitalisation of ICD Co. Ltd is 56.9B KRW (≈ $42.0M). 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 ICD Co. Ltd (040910)?
The price-to-sales ratio of ICD Co. Ltd is 0.39 (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 ICD Co. Ltd (040910)?
Earnings per share at ICD Co. Ltd are 365.65 KRW (price ÷ EPS = P/E 9.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of ICD Co. Ltd (040910)?
The net margin of ICD Co. Ltd is 4.1% (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 ICD Co. Ltd (040910)?
The return on equity (ROE) of ICD Co. Ltd is 6.1% (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 ICD Co. Ltd (040910)?
On an EBIT basis the return on assets of ICD Co. Ltd is −7.5% (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 ICD Co. Ltd (040910)?
The operating margin of ICD Co. Ltd is 6.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at ICD Co. Ltd (040910)?
Revenue at ICD Co. Ltd is growing −66.2% versus a year earlier (3y avg +9.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at ICD Co. Ltd (040910)?
Earnings per share at ICD Co. Ltd are growing +39.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does ICD Co. Ltd (040910) carry?
The net debt of ICD Co. Ltd is 9.6B KRW (fiscal year 2025, ≈ 1.3 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Thin data
Nov 7, 2026