Mdevice (226590) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Mdevice stock KRW 18,947, price KRW 7,430, upside +155.0%, quality 44 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 9, 2026.
How to read this chart
20‑month range 7,430 KRW – 36,250 KRW · fair‑value band 14,009 KRW – 23,884 KRW · the 7,430 KRW price screens below the 18,947 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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MEGAELECTRONICS Co., Ltd. designs, manufactures, and sells storage devices in South Korea. It offers flash storage solid state drives and semiconductor storage devices for digital devices and data center servers. The company was founded in 2009 and is based in Gwacheon-si, South Korea.
Stock analysis
Mdevice (226590) currently trades at 7,430 KRW, while our model-based Fair Value estimate is 18,947 KRW, implying the stock looks roughly 61% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 50,607 KRW per share, and 11 of the 14 models we run sit above the 7,430 KRW price.
Bear case: the Asset-Based group reads lowest at 1,968 KRW, and 3 of the 14 models stay below the price. Data coverage for this calculation is low.
Scenario range: 14,009 KRW (bear) to 23,884 KRW (bull), the price of 7,430 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 44/100 (below-average quality), in the Technology sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Mdevice reported revenue of 96.5B KRW in FY2025 versus 10.1B KRW in FY2022, a compound +112.1%/yr. Reported net income was 10.7B KRW in FY2025.
Key figures
Market cap 79.4B KRW (≈ $58.7M) Micro · P/E ratio 6.0 · P/S ratio 0.80 · EPS (TTM) 1,227 KRW · Net margin 13.2% · Return on equity 28.0% · Return on assets (EBIT) 2.1% (4-year average) · Operating margin 17.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 67 out of 100 (low confidence).
What moves the price
The share trades about 80% 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 155%, 226590 screens cheaper than that median.
Fair Value models
Bear14,009 KRWFair Value 18,947 KRWBull23,884 KRW
Price 7,430 KRW · Upside +155.0%
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 (1,052 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.
Best data coverage
EPV6,226 KRW6,889 KRW7,422 KRW71
EV/EBITDA15,439 KRW20,935 KRW26,432 KRW67
ROIC Compounder7,397 KRW10,088 KRW11,457 KRW67
All 14 models by family
Earnings-Based
Graham-Dodd6,809 KRW47,485 KRW66,638 KRW59
Lynch FV24,532 KRW35,046 KRW45,560 KRW57
PEG = 1.024,532 KRW35,046 KRW45,560 KRW53
EPV6,226 KRW6,889 KRW7,422 KRW71
Multiples
P/E Multiple21,028 KRW28,037 KRW35,046 KRW63
P/S Multiple12,767 KRW17,023 KRW21,278 KRW58
P/B Multiple19,865 KRW26,487 KRW33,108 KRW55
EV/EBIT18,337 KRW24,799 KRW31,262 KRW66
EV/EBITDA15,439 KRW20,935 KRW26,432 KRW67
EV/Revenue8,751 KRW12,952 KRW17,152 KRW53
Asset-Based
NCAV (Graham)1,299 KRW1,968 KRW2,460 KRW54
Economic Profit
Residual Income4,920 KRW6,642 KRW10,853 KRW63
ROIC Compounder7,397 KRW10,088 KRW11,457 KRW67
Growth Earnings
Growth-Adj P/E35,425 KRW50,607 KRW65,789 KRW63
The fair value above starts from this blend and is adjusted for dilution from new shares.
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.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+99.8%
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.
+112.1%
’22
’23
’24
’25
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.
−12.7% (2022) → 12.0% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: no profitable base year
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 9/12 measures
Overall it ranks above its industry peers.
Valuation
Quality Score44 · Below median
Fair Value upside+155.0% · Top 25%
Profitability
Return on equity (12 months)28.0% · Top 25%
Return on assets11.1% · Top 25%
Net margin (12 months)13.2% · Top 25%
Operating margin (12 months)17.2% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)11.0% · Below median
Balance sheet
Debt / equity0.12× · Above median
Valuation Multiplesvs Electronic Components median · lower = cheaper
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.
Cite: Fair Value Calculator (2026). "Mdevice Fair Value". https://www.fairvalue-calculator.com/stock/226590
Frequently asked questions
Is Mdevice (226590) overvalued or undervalued?
As of Nov 9, 2026, our model estimates a fair value of 18,947 KRW versus a price of 7,430 KRW, about +155% upside (undervalued).
What is the fair value of 226590?
Our model-based fair value for Mdevice is 18,947 KRW (as of Nov 9, 2026), built from audited fundamentals. The current price: 7,430 KRW.
What is the quality score of 226590?
Mdevice has a Quality Score of 44/100. 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 Mdevice (226590)?
Our model-based price target is the fair value of 18,947 KRW (as of Nov 9, 2026) from 14 valuation models. Cautious scenario 14,009 KRW, optimistic scenario 23,884 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Mdevice stock forecast for 2026?
Our models put fair value at 18,947 KRW, about +155% upside versus a price of 7,430 KRW (undervalued). Cautious scenario 14,009 KRW, optimistic scenario 23,884 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Mdevice (226590)?
Mdevice reported trailing-twelve-month revenue of about 99.7B KRW (latest available figure, as of Nov 9, 2026).
What is the intrinsic value of Mdevice (226590)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Mdevice it is 18,947 KRW per share (as of Nov 9, 2026), against a price of 7,430 KRW. It is the blended result of 14 valuation models in 5 families (Earnings-Based, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is Mdevice stock overvalued or undervalued in 2026?
As of Nov 9, 2026, 226590 trades below its calculated fair value: price 7,430 KRW, fair value 18,947 KRW, a gap of about +155% (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 226590?
No. The price is what the market pays today (7,430 KRW); the fair value is what the company's own numbers justify (18,947 KRW). For Mdevice the two are 11,517 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Mdevice worth?
The market values Mdevice at about 79.4B KRW (market capitalisation, as of Nov 9, 2026). Per share that is 7,430 KRW; our models calculate a fair value of 18,947 KRW per share.
What do the bullish and bearish scenarios say about 226590?
Our models span a range for Mdevice: cautious scenario 14,009 KRW, base 18,947 KRW, optimistic 23,884 KRW per share (as of Nov 9, 2026, price 7,430 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 226590?
Mdevice trades at a price-to-earnings ratio of 6.0 (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 18,947 KRW is built from several models across several years. Other multiples: P/B 1.7, P/S 0.8, EV/EBITDA 4.7.
How solid is the balance sheet of Mdevice (226590)?
Balance-sheet figures for Mdevice (as of Nov 9, 2026): return on equity 28.0%, debt of 0.12 per unit of equity. They feed the Quality Score of 44/100, which measures business quality independently of the share price.
How far is 226590 from its 52-week high?
Mdevice trades at 7,430 KRW, about 80% below its 52-week high of 36,250 KRW and at the low of 7,430 KRW (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 18,947 KRW is for.
Which stocks are comparable to Mdevice?
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 Mdevice stock attractive at the current price?
The data as of Nov 9, 2026: price 7,430 KRW, calculated fair value 18,947 KRW (+155%), Quality Score 44/100, 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 226590 calculated?
We run Mdevice through 14 models from 5 families: Earnings-Based, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 18,947 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. Mdevice currently trades 61% 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 Mdevice (226590)?
The closing price on Nov 6, 2026 was 7,430 KRW. Our model-based fair value is 18,947 KRW, about +155% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Mdevice right now?
The large discount to fair value meets weak quality (44/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (14,009 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 Mdevice
How large is the market capitalisation of Mdevice (226590)?
The market capitalisation of Mdevice is 79.4B KRW (≈ $58.7M). 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 Mdevice (226590)?
The price-to-sales ratio of Mdevice is 0.80 (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 Mdevice (226590)?
Earnings per share at Mdevice are 1,227 KRW (price ÷ EPS = P/E 6.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Mdevice (226590)?
The net margin of Mdevice is 13.2% (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 Mdevice (226590)?
The return on equity (ROE) of Mdevice is 28.0% (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 Mdevice (226590)?
On an EBIT basis the return on assets of Mdevice is 2.1% (avg 4y). 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 Mdevice (226590)?
The operating margin of Mdevice is 17.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Mdevice (226590)?
Revenue at Mdevice is growing +11.0% versus a year earlier (3y avg +112%). 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 Mdevice (226590)?
Earnings per share at Mdevice are growing +918% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Mdevice (226590) generate?
The free cash flow of Mdevice is −25.6B 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 Mdevice (226590) carry?
The net debt of Mdevice is 11.3B KRW (fiscal year 2025). 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