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MAXST Co Ltd (377030) fair value: what the stock is really worth

As of Nov 10, 2026: fair value (intrinsic value) of MAXST Co Ltd stock KRW 1,260, price KRW 1,817, that is 30.6% below the price, quality 24 out of 100. Rating: overvalued. The value is an estimate: none of our valuation models currently carries, it draws on revenue and assets compared with similar companies. Updated daily.

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Technology KR

MC MAXST Co Ltd logo Thin data Nov 10, 2026

MAXST Co Ltd

377030 · KQ
Expensive, weak quality

Our calculation puts a fair price 31% below what the stock costs today.

Low debt
Expensive Growth (revenue 5y +68.9 %/yr in KRW)
Revenue last quarter 27% below a year ago.
Fair value 1,260 KRW · Overvalued
Quality 24/100
Negative free cash flow
Trails peers (1/8)
Narrow moat 6/100 · thin data
Thin data
Estimate
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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

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Price vs Fair Value

159,271 KRW 1,228 KRW Fair Value 1,260 KRW Jul 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 10, 2026.

How to read this chart

60‑month range 1,228 KRW – 159,271 KRW · fair‑value band 945.25 KRW – 1,575 KRW · the 1,817 KRW price screens above the 1,260 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 10, 2026.

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Company profile

Bitmax Co., Ltd operates a metaverse platform in South Korea and internationally. It operates through Software Advisory, Development, and Supply; IT Services; and Game Content segments.

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The company offers BITMAX AR SKD, an augmented reality (AR) development platform that provides image tracker and cloud recognizers, instant and object trackers, space and marker trackers, QR code and AR fusion trackers, and QR/barcode readers; and Widearth, a digital twin platform based on real space, which includes workspace, studio, and viewer capabilities.

It also provides industrial AR solutions comprising AR inspection and AR remote; digital twin solutions; and smart glasses. In addition, the company invests in Bitcoin. Further, it develops hack-and-slash role-playing games on PC and mobile.

The company was formerly known as MAXST Co., Ltd. and changed its name to Bitmax Co., Ltd in February 2025. Bitmax Co., Ltd was founded in 2010 and is headquartered in Seoul, South Korea.

Stock analysis

MAXST Co Ltd (377030) currently trades at 1,817 KRW, while our estimate is 1,260 KRW, 31% below the price, so the stock looks overvalued today.

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Valuation

None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Scenario range: 945.25 KRW (bear) to 1,575 KRW (bull), the price of 1,817 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 24/100 (below-average quality), in the Technology sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

MAXST Co Ltd reported revenue of 27.2B KRW in FY2025 versus 2.4B KRW in FY2021, a compound +84.1%/yr. Reported net income was −96.2B KRW in FY2025.

Key figures

Market cap 25.9B KRW (≈ $19.5M) Micro · P/S ratio 1.01 · EPS (TTM) −3,630 KRW · Return on equity −465% · Return on assets (EBIT) −34.7% (5-year average) · Operating margin −17.2% · Revenue (TTM) 24.0B KRW · Revenue growth (YoY) −27.1%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 6 out of 100 (low confidence).

What moves the price

The share trades about 83% below its 52-week high and 48% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Technology peers we cover trades at −11% fair-value upside, at −31%, 377030 screens richer than that median.

Fair Value

Bear 945.25 KRW Fair Value 1,260 KRW Bull 1,575 KRW
Price 1,817 KRW · Downside -30.6%
Estimate. None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Quality Score breakdown

Overall quality 24/100

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

Profitability 3
How much profit the company makes from its sales and capital
Quality Growth 18
Are margins and returns getting better?
Cashflow 0
Do the profits arrive as real cash?
Financial strength 14
Debt, balance sheet and risk of trouble
Investment 38
Does it invest with discipline instead of growing at any price?
Low Volatility 5
How calm the share price moves, does not count
Price momentum 23
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 2
Distance to the 52-week high, does not count
New shares 100
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. 32/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−26.8%
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.
+111.0%
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.
+68.9%
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.
+54.7%
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.
−126.9% (2020) → −31.6% (2025)
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

377030 screens overvalued: fair value 31% below the price. Compare with Microsoft Corporation →

Compare MAXST Co Ltd with another stock

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.Software - Infrastructure · 410 stocks

Beats the industry median on 1/7 measures
Overall it trails its industry peers.
Valuation
Quality Score 24 · Bottom 25%
Fair Value upside −30.6% · Below median
Profitability
Return on assets −89.8% · Bottom 25%
Operating margin (12 months) −17.2% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) −27.1% · Bottom 25%
Balance sheet
Debt / equity 0.15× · Above median

Valuation Multiplesvs Software - Infrastructure median · lower = cheaper

P/B 2.44× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
P/S (12 months) 1.08× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 22
FUTURE (revenue growth)0 · sector 60
PAST (return on equity)0 · sector 15
HEALTH (low debt)92 · sector 98
DIVIDEND (yield)0 · sector 27

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

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 Software - Infrastructure stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Microsoft Corporation MSFT $533.16 $599.70 +12% vs 377030
Fortinet, Inc FTNT $123.57 $130.72 +6% vs 377030
Oracle Corporation ORCL $117.98 $111.97 −5% vs 377030
Block, Inc XYZ $85.58 $76.43 −11% vs 377030
NetApp, Inc NTAP $175.99 $156.80 −11% vs 377030
Synopsys, Inc SNPS $459.95 $288.23 −37% vs 377030
Zscaler, Inc ZS $194.92 $101.45 −48% vs 377030
Palantir Technologies Inc PLTR $168.82 $42.20 −75% vs 377030
CrowdStrike Holdings CRWD $225.76 $37.97 −83% vs 377030
Palo Alto Networks, Inc PANW $326.36 $39.54 −88% vs 377030

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MAXST Co Ltd: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "MAXST Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/377030

Frequently asked questions

Is MAXST Co Ltd (377030) overvalued or undervalued?
As of Nov 10, 2026, our estimate of fair value is 1,260 KRW versus a price of 1,817 KRW, about 31% lower (overvalued).
What is the fair value of 377030?
Our estimate for MAXST Co Ltd is 1,260 KRW (as of Nov 10, 2026), built from audited fundamentals. The current price: 1,817 KRW.
What is the quality score of 377030?
MAXST Co Ltd has a Quality Score of 24/100. 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 MAXST Co Ltd (377030)?
Our calculated price target is the estimate of 1,260 KRW (as of Nov 10, 2026). Cautious scenario 945.25 KRW, optimistic scenario 1,575 KRW. It is an estimate from revenue and assets compared with similar companies, because none of our valuation models currently carries, not an analyst target.
What is the MAXST Co Ltd stock forecast for 2026?
Our estimate puts fair value at 1,260 KRW, about 31% lower versus a price of 1,817 KRW (overvalued). Cautious scenario 945.25 KRW, optimistic scenario 1,575 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of MAXST Co Ltd (377030)?
MAXST Co Ltd reported trailing-twelve-month revenue of about 24.0B KRW (latest available figure, as of Nov 10, 2026).
What is the intrinsic value of MAXST Co Ltd (377030)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For MAXST Co Ltd it is 1,260 KRW per share (as of Nov 10, 2026), against a price of 1,817 KRW.
Is MAXST Co Ltd stock overvalued or undervalued in 2026?
As of Nov 10, 2026, 377030 trades above its calculated fair value: price 1,817 KRW, fair value 1,260 KRW, a gap of about −31% (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 377030?
No. The price is what the market pays today (1,817 KRW); the fair value is what the company's own numbers justify (1,260 KRW). For MAXST Co Ltd the two are 556.66 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is MAXST Co Ltd worth?
The market values MAXST Co Ltd at about 25.9B KRW (market capitalisation, as of Nov 10, 2026). Per share that is 1,817 KRW; our models calculate a fair value of 1,260 KRW per share.
What do the bullish and bearish scenarios say about 377030?
Our models span a range for MAXST Co Ltd: cautious scenario 945.25 KRW, base 1,260 KRW, optimistic 1,575 KRW per share (as of Nov 10, 2026, price 1,817 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of MAXST Co Ltd (377030)?
Balance-sheet figures for MAXST Co Ltd (as of Nov 10, 2026): return on equity −464.9%, debt of 0.15 per unit of equity. They feed the Quality Score of 24/100, which measures business quality independently of the share price.
How far is 377030 from its 52-week high?
MAXST Co Ltd trades at 1,817 KRW, about 83% below its 52-week high of 10,400 KRW and 48% above the low of 1,228 KRW (as of Nov 10, 2026). Distance from the high says nothing about value: that is what the fair value of 1,260 KRW is for.
Which stocks are comparable to MAXST Co Ltd?
From the same area (Technology) we also value Microsoft Corporation, Oracle Corporation, Palantir Technologies Inc, Palo Alto Networks, 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 MAXST Co Ltd stock attractive at the current price?
The data as of Nov 10, 2026: price 1,817 KRW, calculated fair value 1,260 KRW (−31%), Quality Score 24/100. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
Is it still worth investing in stocks now?
The global stock market currently sits 15.1% above its aggregate fair value. MAXST Co Ltd 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 MAXST Co Ltd (377030)?
The closing price on Nov 10, 2026 was 1,817 KRW. Our estimate is 1,260 KRW, about 31% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with MAXST Co Ltd right now?
The price sits above even our optimistic bull case (1,575 KRW). The favourable scenario is already priced in. Weak quality (24/100) and above fair value at the same time, the margin of safety is missing on both counts. 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 MAXST Co Ltd

How large is the market capitalisation of MAXST Co Ltd (377030)?
The market capitalisation of MAXST Co Ltd is 25.9B KRW (≈ $19.5M). 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 MAXST Co Ltd (377030)?
The price-to-sales ratio of MAXST Co Ltd is 1.01 (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 MAXST Co Ltd (377030)?
Earnings per share at MAXST Co Ltd are −3,630 KRW. Earnings per share over the last twelve months: total profit spread across every single share.
What is the return on equity of MAXST Co Ltd (377030)?
The return on equity (ROE) of MAXST Co Ltd is −465% (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 MAXST Co Ltd (377030)?
On an EBIT basis the return on assets of MAXST Co Ltd is −34.7% (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 MAXST Co Ltd (377030)?
The operating margin of MAXST Co Ltd is −17.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at MAXST Co Ltd (377030)?
Revenue at MAXST Co Ltd is growing −27.1% versus a year earlier (3y avg +111%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does MAXST Co Ltd (377030) generate?
The free cash flow of MAXST Co Ltd is −93.2B 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 MAXST Co Ltd (377030) carry?
The net debt of MAXST Co Ltd is 74.2B 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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