KMH Co. Ltd (122450) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of KMH Co. Ltd stock KRW 6,210, price KRW 2,070, upside +200.0%, quality 49 out of 100. Rating: strongly undervalued. Calculated from audited financials with 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 9, 2026.
How to read this chart
60‑month range 2,070 KRW – 12,358 KRW · fair‑value band 4,658 KRW – 7,762 KRW · the 2,070 KRW price screens below the 6,210 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 9, 2026.
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KX Innovation Co., Ltd. provides broadcasting transmission and channel services. It operates various cable channels, including dramas, movies, and documentaries; and provides broadcast transmission services.
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The company also offers professional services to corporations, financial institutions, and public institutions; semiconductor materials/SSD cases; and broadcasting equipment. In addition, it engages in the golf course and club business.
The company was formerly known as KMH Co. Ltd. KX Innovation Co., Ltd. was founded in 2000 and is headquartered in Seoul, South Korea.
Stock analysis
KMH Co. Ltd (122450) currently trades at 2,070 KRW, while our model-based Fair Value estimate is 6,210 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 19,171 KRW per share, and 24 of the 26 models we run sit above the 2,070 KRW price.
Bear case: the Dividend Discount group reads lowest at 1,706 KRW, and 2 of the 26 models stay below the price. Data coverage for this calculation is low.
Scenario range: 4,658 KRW (bear) to 7,762 KRW (bull), the price of 2,070 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 49/100 (below-average quality), in the Communication Services sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
KMH Co. Ltd reported revenue of 346B KRW in FY2025 versus 289B KRW in FY2021, a compound +4.6%/yr. Reported net income was 19.9B KRW in FY2025, compounding −15.6%/yr from FY2021.
Key figures
Market cap 93.6B KRW (≈ $69.2M) Micro · P/E ratio 5.5 · P/S ratio 0.33 · EPS (TTM) 373.62 KRW · Dividend yield 7.9% · Net margin 4.8% · Return on equity 6.0% · Return on assets (EBIT) 8.4% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 45 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 Communication Services peers we cover trades at 6% fair-value upside, at 200%, 122450 screens cheaper than that median.
Fair Value models
Bear4,658 KRWFair Value 6,210 KRWBull7,762 KRW
Price 2,070 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 (320.39 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.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−14.3%
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.
+2.0%
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.
+1.7%
Start year 2020 (pandemic). Over 10 years: +13.3% a year
Revenue growth 14 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.
+16.0%
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What shareholders gained per year (last 5 years), in KRW ⓘ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. 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.
−0.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year−8.3%
Dividend (yield on the price)7.9%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−8.3% vs −2.7%, slowing
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.20% → 11%
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.Broadcasting · 62 stocks
Beats the industry median on 12/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score49 · Below median
Fair Value upside+200.0% · Top 25%
Profitability
Return on equity (12 months)6.0% · Above median
Return on assets2.7% · Above median
Net margin (12 months)6.1% · Above median
Operating margin (12 months)22.9% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)11.8% · Top 25%
Dividend yield (12 months)7.9% · Above median
Balance sheet
Debt / equity0.10× · Below median
Valuation Multiplesvs Broadcasting median · lower = cheaper
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Is KMH Co. Ltd (122450) overvalued or undervalued?
As of Nov 9, 2026, our model estimates a fair value of 6,210 KRW versus a price of 2,070 KRW, about +200% upside (undervalued).
What is the fair value of 122450?
Our model-based fair value for KMH Co. Ltd is 6,210 KRW (as of Nov 9, 2026), built from audited fundamentals. The current price: 2,070 KRW.
What is the quality score of 122450?
KMH Co. Ltd has a Quality Score of 49/100. 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 KMH Co. Ltd (122450)?
Our model-based price target is the fair value of 6,210 KRW (as of Nov 9, 2026) from 26 valuation models. Cautious scenario 4,658 KRW, optimistic scenario 7,762 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the KMH Co. Ltd stock forecast for 2026?
Our models put fair value at 6,210 KRW, about +200% upside versus a price of 2,070 KRW (undervalued). Cautious scenario 4,658 KRW, optimistic scenario 7,762 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of KMH Co. Ltd (122450)?
KMH Co. Ltd reported trailing-twelve-month revenue of about 367B KRW (latest available figure, as of Nov 9, 2026).
Does KMH Co. Ltd pay a dividend?
KMH Co. Ltd currently shows a dividend yield of 7.86% relative to its recent price (as of Nov 9, 2026).
How much is the dividend of KMH Co. Ltd (122450)?
KMH Co. Ltd has a dividend yield of 7.9%.
What is the intrinsic value of KMH Co. Ltd (122450)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For KMH Co. Ltd it is 6,210 KRW per share (as of Nov 9, 2026), against a price of 2,070 KRW. It is the blended result of 26 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is KMH Co. Ltd stock overvalued or undervalued in 2026?
As of Nov 9, 2026, 122450 trades below its calculated fair value: price 2,070 KRW, fair value 6,210 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 122450?
No. The price is what the market pays today (2,070 KRW); the fair value is what the company's own numbers justify (6,210 KRW). For KMH Co. Ltd the two are 4,140 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is KMH Co. Ltd worth?
The market values KMH Co. Ltd at about 93.6B KRW (market capitalisation, as of Nov 9, 2026). Per share that is 2,070 KRW; our models calculate a fair value of 6,210 KRW per share.
What do the bullish and bearish scenarios say about 122450?
Our models span a range for KMH Co. Ltd: cautious scenario 4,658 KRW, base 6,210 KRW, optimistic 7,762 KRW per share (as of Nov 9, 2026, price 2,070 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 122450?
KMH Co. Ltd trades at a price-to-earnings ratio of 5.5 (as of Nov 9, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 6,210 KRW is built from several models across several years. Median P/E at fiscal year-end, 5 fiscal years (2021 to 2025), reported earnings, FY2025 ex one-offs: 8.7. Other multiples: P/B 0.3, P/S 0.3.
How solid is the balance sheet of KMH Co. Ltd (122450)?
Balance-sheet figures for KMH Co. Ltd (as of Nov 9, 2026): return on equity 6.0%, debt of 0.10 per unit of equity. They feed the Quality Score of 49/100, which measures business quality independently of the share price.
How far is 122450 from its 52-week high?
KMH Co. Ltd trades at 2,070 KRW, about 47% below its 52-week high of 3,905 KRW and at the low of 2,070 KRW (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 6,210 KRW is for.
Which stocks are comparable to KMH Co. Ltd?
From the same area (Communication Services) we also value Nexstar Media Group, Sun TV Network Limited, Jiangsu Broadcasting Cable Information Network Corporation, SES S.A, 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 KMH Co. Ltd stock attractive at the current price?
The data as of Nov 9, 2026: price 2,070 KRW, calculated fair value 6,210 KRW (+200%), Quality Score 49/100, from 26 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 122450 calculated?
We run KMH Co. Ltd through 26 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 6,210 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. KMH 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 KMH Co. Ltd (122450)?
The closing price on Nov 6, 2026 was 2,070 KRW. Our model-based fair value is 6,210 KRW, about +200% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with KMH Co. Ltd right now?
The large discount to fair value meets weak quality (49/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (4,658 KRW). The market is more pessimistic than our downside scenario. 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 KMH Co. Ltd
How large is the market capitalisation of KMH Co. Ltd (122450)?
The market capitalisation of KMH Co. Ltd is 93.6B KRW (≈ $69.2M). 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 KMH Co. Ltd (122450)?
The price-to-sales ratio of KMH Co. Ltd is 0.33 (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 KMH Co. Ltd (122450)?
Earnings per share at KMH Co. Ltd are 373.62 KRW (price ÷ EPS = P/E 5.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of KMH Co. Ltd (122450)?
The dividend yield of KMH Co. Ltd is 7.9% (payout 43.5%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of KMH Co. Ltd (122450)?
The net margin of KMH Co. Ltd is 4.8% (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 KMH Co. Ltd (122450)?
The return on equity (ROE) of KMH Co. Ltd is 6.0% (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 KMH Co. Ltd (122450)?
On an EBIT basis the return on assets of KMH Co. Ltd is 8.4% (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 KMH Co. Ltd (122450)?
The operating margin of KMH Co. Ltd is 22.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at KMH Co. Ltd (122450)?
Revenue at KMH Co. Ltd is growing +11.8% versus a year earlier (3y avg +2.0%). 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 KMH Co. Ltd (122450)?
Earnings per share at KMH Co. Ltd are growing −23.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does KMH Co. Ltd (122450) generate?
The free cash flow of KMH Co. Ltd is 56.2B 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 KMH Co. Ltd (122450) carry?
The net debt of KMH Co. Ltd is 29.5B KRW (fiscal year 2025, ≈ 0.5 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 9, 2026