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KakaoBank Corp (323410) fair value: what the stock is really worth

As of Nov 9, 2026: fair value (intrinsic value) of KakaoBank Corp stock KRW 11,158, price KRW 20,250, that is 44.9% below the price, quality 56 out of 100. Rating: strongly overvalued. Calculated from audited financials with 6 of our 26 valuation models and 37 quality factors, updated daily.

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Financial Services KR · ISIN KR7323410001

KC KakaoBank Corp logo Some data Nov 8, 2026

KakaoBank Corp

323410 · KO
Very expensive, in a downtrend

Our calculation puts a fair price 45% below what the stock costs today.

Highly profitable · 29.9% net margin (TTM)
2.3% dividend yield · Low payout
Quality 56/100
Mixed Growth (revenue 5y +29.6 %/yr in KRW)
Mixed vs. peers (5/12)
Wide moat 65/100 · thin data
Some data
Fair value 11,158 KRW · Strongly overvalued

Risks from the AI analysis

🚩Household lending regulations constrain growth
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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

88,431 KRW 15,235 KRW Fair Value 11,158 KRW Aug 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 8, 2026.

How to read this chart

60‑month range 15,235 KRW – 88,431 KRW · fair‑value band 10,830 KRW – 12,094 KRW · the 20,250 KRW price screens above the 11,158 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 8, 2026.

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Company profile

KakaoBank Corp., an Internet bank, provides banking services through electronic financial transaction method in South Korea.

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It offers various deposits, including checking, group, safe box, piggy bank, journal account, time deposits, flexible savings, and 26 week and one month savings accounts; loans, comprising micro, overdraft, credit, used car, housing deposit, housing deposit loan refinancing, mortgage, and mortgage loan refinancing loans; loan comparison, credit loan refinancing, and credit information services; investments/ forex products, which include funds, securities brokerage accounts, overseas remittance, WU transfer, and dollar boxes.

The company also provides cards, including friends and group, co-branded credit cards, and credit card platforms; and business owner and mini services. It operates mobile banking centers and computer data centers.

The company was formerly known as KakaoBank of Korea Corp. and changed its name to KakaoBank Corp. in June 2020. The company was founded in 2016 and is headquartered in Seongnam-si, South Korea.

Stock analysis

KakaoBank Corp (323410) currently trades at 20,250 KRW, while our model-based Fair Value estimate is 11,158 KRW, 45% below the price, so the stock looks overvalued today.

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Valuation

Bull case: the Multiples group reads highest at a median of 16,398 KRW per share, and 0 of the 6 models we run sit above the 20,250 KRW price.

Bear case: the Dividend Discount group reads lowest at 4,802 KRW, and 6 of the 6 models stay below the price. Data coverage for this calculation is medium.

Scenario range: 10,830 KRW (bear) to 12,094 KRW (bull), the price of 20,250 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 56/100 (solid quality), in the Financial Services sector.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

KakaoBank Corp reported revenue of 1.6T KRW in FY2025 versus 605B KRW in FY2021, a compound +27.3%/yr. Reported net income was 480B KRW in FY2025, compounding +23.9%/yr from FY2021.

Key figures

Market cap 9.6T KRW (≈ $7.1B) Mid · P/E ratio 17.9 · P/S ratio 5.30 · EPS (TTM) 1,143 KRW · Dividend yield 2.3% · Net margin 29.9% · Return on equity 8.2% · Return on assets 0.7%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 65 out of 100 (low confidence).

What moves the price

The share trades about 28% 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 −29% fair-value upside, at −45%, 323410 screens richer than that median.

Fair Value models

Bear 10,830 KRW Fair Value 11,158 KRW Bull 12,094 KRW
Price 20,250 KRW · Downside -44.9%
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. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (585.54 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
Residual Income 10,830 KRW 11,158 KRW 12,094 KRW 74
Gordon GGM 2,789 KRW 5,017 KRW 6,896 KRW 66
DDM Multi-Stage 2,789 KRW 4,587 KRW 5,360 KRW 65
All 6 models by family
Dividend Discount
Gordon GGM 2,789 KRW 5,017 KRW 6,896 KRW 66
DDM Multi-Stage 2,789 KRW 4,587 KRW 5,360 KRW 65
Multiples
P/E Multiple 9,826 KRW 13,101 KRW 16,376 KRW 63
P/B Multiple 14,771 KRW 19,695 KRW 24,619 KRW 55
Asset-Based
NCAV (Graham) 7,034 KRW 9,425 KRW 14,068 KRW 51
Economic Profit
Residual Income 10,830 KRW 11,158 KRW 12,094 KRW 74

Open the full fair value analysis →

Quality Score breakdown

Overall quality 56/100

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

Profitability 40
How much profit the company makes from its sales and capital
Quality Growth 43
Are margins and returns getting better?
Cashflow 100
Do the profits arrive as real cash?
Financial strength 9
Debt, balance sheet and risk of trouble
Investment 53
Does it invest with discipline instead of growing at any price?
Low Volatility 39
How calm the share price moves, does not count
Price momentum 24
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 17
Distance to the 52-week high, does not count
New shares 82
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. 86/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+4.5%
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.
+16.2%
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.
+29.6%
Start year 2020 (pandemic)
Revenue growth 7 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.
+44.4%
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.
+31.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year+29.4%
Dividend (yield on the price)2.3%

323410 screens overvalued: fair value 45% below the price. Compare with China Merchants Bank Co →

Note from the team Oct 26, 2026
AI conclusion: KakaoBank strengthens its position through accelerated adoption of AI-native banking and digital asset services supported by ecosystem connections, while strict household lending regulations remain a key constraint on loan growth.
Main risk: South Korean financial authorities impose strict household loan quotas and tighter credit limits that could limit KakaoBank's traditional lending expansion and force reliance on costlier shifts to business loans or platform services.
Bull case: KakaoBank could leverage its AI-native platform and ecosystem ties to accelerate fee-based services and global expansion, offsetting lending limits through diversified non-interest revenue.
Bear case: Prolonged regulatory caps on household lending could stall loan growth, raise funding costs for business expansion and erode margins if platform revenue fails to scale quickly enough.
KakaoBank is accelerating its move into AI-native banking and digital asset services while drawing on its ecosystem ties. Strict household lending rules keep constraining loan growth for digital banks. Will expanding fee and platform revenue outpace the limits on traditional lending?
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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.Banks - Regional · 996 stocks

Beats the industry median on 5/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 56 · Above median
Fair Value upside −44.9% · Bottom 25%
Profitability
Return on equity (12 months) 8.2% · Below median
Return on assets 0.6% · Bottom 25%
Net margin (12 months) 29.9% · Above median
Operating margin (12 months) 48.3% · Above median
Growth and dividend
Revenue growth (quarter YoY) 13.2% · Above median
Dividend yield (12 months) 2.3% · Below median

Valuation Multiplesvs Banks - Regional median · lower = cheaper

P/E (12 months) 17.9× · Priciest 25%
P/B 1.43× · Pricier than median
P/S (12 months) 5.30× · Priciest 25%
Price / free cash flow (fiscal year) 1.6× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 8
FUTURE (revenue growth)66 · sector 47
PAST (return on equity)33 · sector 43
HEALTH (low debt)–
DIVIDEND (yield)45 · sector 52

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

HEALTH: for banks, insurers and similar financial firms borrowed money is part of the business, so we do not rate debt here.

Context: sector, industry, market

Values & ESG

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

None of the checked exposures detected

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 ¥5.62 ¥7.59 +35% vs 323410
China Merchants Bank Co 600036 ¥43.01 ¥52.73 +23% vs 323410
BNP Paribas SA BNP €93.98 €106.01 +13% vs 323410
Intesa Sanpaolo S.p.A ISP €6.18 €4.49 −27% vs 323410
State Bank of India SBIN ₹1,042 ₹736.65 −29% vs 323410
UniCredit S.p.A UCG €76.80 €50.44 −34% vs 323410
Mizuho Financial Group MFG $9.40 $5.89 −37% vs 323410
DBS Group D05 69.72 SGD 40.39 SGD −42% vs 323410
HDFC Bank Limited HDFCBANK ₹798.15 ₹406.39 −49% vs 323410
ICICI Bank Limited ICICIBANK ₹1,589 ₹615.63 −61% vs 323410

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Cite: Fair Value Calculator (2026). "KakaoBank Corp Fair Value". https://www.fairvalue-calculator.com/stock/323410

Frequently asked questions

Is KakaoBank Corp (323410) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of 11,158 KRW versus a price of 20,250 KRW, about 45% lower (overvalued).
What is the fair value of 323410?
Our model-based fair value for KakaoBank Corp is 11,158 KRW (as of Nov 8, 2026), built from audited fundamentals. The current price: 20,250 KRW.
What is the quality score of 323410?
KakaoBank Corp has a Quality Score of 56/100. 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 KakaoBank Corp (323410)?
Our model-based price target is the fair value of 11,158 KRW (as of Nov 8, 2026) from 6 valuation models. Cautious scenario 10,830 KRW, optimistic scenario 12,094 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the KakaoBank Corp stock forecast for 2026?
Our models put fair value at 11,158 KRW, about 45% lower versus a price of 20,250 KRW (overvalued). Cautious scenario 10,830 KRW, optimistic scenario 12,094 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of KakaoBank Corp (323410)?
KakaoBank Corp reported trailing-twelve-month revenue of about 1.8T KRW (latest available figure, as of Nov 8, 2026).
Does KakaoBank Corp pay a dividend?
KakaoBank Corp currently shows a dividend yield of 2.27% relative to its recent price (as of Nov 8, 2026).
How much is the dividend of KakaoBank Corp (323410) and when is the ex-dividend date?
KakaoBank Corp pays a dividend of 460.00 KRW per share a year, a dividend yield of 2.3%. The last ex-dividend date was Feb 26, 2026. The payout ratio is 40.3% of earnings. Our assessment: Low payout. A low payout ratio: the dividend takes at most 60 % of earnings. Whether free cash flow covers it as well, we cannot see for this company.
What is the intrinsic value of KakaoBank Corp (323410)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For KakaoBank Corp it is 11,158 KRW per share (as of Nov 8, 2026), against a price of 20,250 KRW. It is the blended result of 6 valuation models in 4 families (Dividend Discount, Multiples, Asset-Based, Economic Profit).
Is KakaoBank Corp stock overvalued or undervalued in 2026?
As of Nov 8, 2026, 323410 trades above its calculated fair value: price 20,250 KRW, fair value 11,158 KRW, a gap of about −45% (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 323410?
No. The price is what the market pays today (20,250 KRW); the fair value is what the company's own numbers justify (11,158 KRW). For KakaoBank Corp the two are 9,092 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is KakaoBank Corp worth?
The market values KakaoBank Corp at about 9.6T KRW (market capitalisation, as of Nov 8, 2026). Per share that is 20,250 KRW; our models calculate a fair value of 11,158 KRW per share.
What do the bullish and bearish scenarios say about 323410?
Our models span a range for KakaoBank Corp: cautious scenario 10,830 KRW, base 11,158 KRW, optimistic 12,094 KRW per share (as of Nov 8, 2026, price 20,250 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 323410?
KakaoBank Corp trades at a price-to-earnings ratio of 17.9 (as of Nov 8, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 11,158 KRW is built from several models across several years. Median P/E at fiscal year-end, 5 fiscal years (2021 to 2025), reported earnings: 38.3. Other multiples: P/B 1.4, P/S 5.3.
How solid is the balance sheet of KakaoBank Corp (323410)?
Balance-sheet figures for KakaoBank Corp (as of Nov 8, 2026): return on equity 8.2%. They feed the Quality Score of 56/100, which measures business quality independently of the share price.
How far is 323410 from its 52-week high?
KakaoBank Corp trades at 20,250 KRW, about 28% below its 52-week high of 28,229 KRW and 5% above the low of 19,240 KRW (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of 11,158 KRW is for.
Which stocks are comparable to KakaoBank Corp?
From the same area (Financial Services) we also value China Merchants Bank Co, DBS Group, UniCredit S.p.A, Mizuho Financial Group, 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 KakaoBank Corp stock attractive at the current price?
The data as of Nov 8, 2026: price 20,250 KRW, calculated fair value 11,158 KRW (−45%), Quality Score 56/100, from 6 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 323410 calculated?
We run KakaoBank Corp through 6 models from 4 families: Dividend Discount, Multiples, Asset-Based, Economic Profit. Every model gets the same audited fundamentals; the fair value of 11,158 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. KakaoBank Corp 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 KakaoBank Corp (323410)?
The closing price on Nov 9, 2026 was 20,250 KRW. Our model-based fair value is 11,158 KRW, about 45% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with KakaoBank Corp right now?
The price sits above even our optimistic bull case (12,094 KRW). The favourable scenario is already priced in. Solid but not exceptional quality (56/100) and above fair value, neither a clear bargain nor a standout compounder. The models converge in a tight band (10,830 KRW to 12,094 KRW), unusually little disagreement for a valuation. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.

Key figures of KakaoBank Corp

How large is the market capitalisation of KakaoBank Corp (323410)?
The market capitalisation of KakaoBank Corp is 9.6T KRW (≈ $7.1B). 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 KakaoBank Corp (323410)?
The price-to-sales ratio of KakaoBank Corp is 5.30 (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 KakaoBank Corp (323410)?
Earnings per share at KakaoBank Corp are 1,143 KRW (price ÷ EPS = P/E 17.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of KakaoBank Corp (323410)?
The dividend yield of KakaoBank Corp is 2.3% (payout 40.3%). 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 KakaoBank Corp (323410)?
The net margin of KakaoBank Corp is 29.9% (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 KakaoBank Corp (323410)?
The return on equity (ROE) of KakaoBank Corp is 8.2% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the return on assets of KakaoBank Corp (323410)?
The return on assets (ROA) of KakaoBank Corp is 0.7% (last twelve months). Profit relative to everything the company owns. Harder to inflate than return on equity because debt does not boost it.
What is the operating margin of KakaoBank Corp (323410)?
The operating margin of KakaoBank Corp is 48.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at KakaoBank Corp (323410)?
Revenue at KakaoBank Corp is growing +13.2% versus a year earlier (3y avg +16.2%). 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 KakaoBank Corp (323410)?
Earnings per share at KakaoBank Corp are growing +11.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does KakaoBank Corp (323410) generate?
The free cash flow of KakaoBank Corp is 5.9T KRW (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
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