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STOCK COMPARISON

Raonsecure Co. vs SAP: Fair Value & Quality

Both stocks run through our valuation models. Here is how Raonsecure Co. (042510) and SAP (SAP) compare, as of Sep 25, 2026.

As of Sep 25, 2026, Fair Value Calculator sees SAP as the less overvalued of the two: Raonsecure Co. trades at KRW 10,950 versus a fair value of KRW 8,266 (-25%), while SAP trades at €184 versus €159 (-14%).
Raonsecure Co.
042510.KQ · KRW · Information Technology
-25%
upside to fair value
overvalued
PriceKRW 10,950
Fair ValueKRW 8,266
Quality69/100
SAP
SAP.XETRA · EUR · Information Technology
-14%
upside to fair value
overvalued
Price€184
Fair Value€159
Quality81/100
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Head-to-head numbers

Green is the better side of a row, red the weaker one (for valuation multiples: lower = cheaper). Grey rows are for reference only and are not scored.

betterweakerfor reference, not scored

Raonsecure Co.SAP
Valuation
n/aP/E (TTM)29.6×
n/aP/S (TTM)6.59×
n/aP/B5.50×
n/aEV/EBITDA20.9×
n/aPEG1.37×
−24.5%Fair value upside−13.6%
n/aDividend yield1.4%
n/aDividend per share€2.50
Profitability
-23%Operating margin30%
n/aEBIT margin trend (5Y)1.16×
9%Return on equity16%
3%Return on assets9%
Growth
-14%Revenue growth (YoY)6%
10.8%Avg. growth/yr (3Y)6.0%
11.4%Avg. growth/yr (5Y)6.1%
+8.5%Value creation/yr−1.2%
Balance & size
3.3×Interest coverage (EBIT/interest)7.5×
0.01×Debt / equity0.09×
$87MMarket cap$246B
healthyGrowth qualityhealthy

Even match: 4 to 4 metric wins.

n/a = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

Raonsecure Co.of which business quality 70 · market factors 45 SAPof which business quality 79 · market factors 53
ProfitabilityMargins and returns on capital today
51
62
Quality GrowthAre margins and returns improving?
49
76
CashflowEarnings quality: real cash, not paper profit
69
80
Fin. StrengthBalance sheet, leverage, solvency risk
81
79
InvestmentDisciplined investing over empire-building
80
94
Low VolatilityCalm price path (market factor)
29
60
MomentumPrice trend over the last 3–12 months (market factor)
56
61
52W MomentumDistance to the 52-week high (market factor)
46
33
Net IssuanceShare count: buybacks or dilution?
100
92

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familyRaonsecure Co.Price KRW 10,950SAPPrice €184
DCF Models+11%close to the priceKRW 12,106-7%close to the price€171
Earnings-Based-57%below the priceKRW 4,742-66%below the price€63.09
Dividend Discountn/a-76%below the price€45.06
Multiples-39%below the priceKRW 6,626-19%below the price€149
Asset-Based-70%below the priceKRW 3,333-86%below the price€25.98
Growth DCF-12%close to the priceKRW 9,611-19%below the price€149
Economic Profit-67%below the priceKRW 3,569-59%below the price€74.66
Growth Earnings-25%below the priceKRW 8,266-14%close to the price€158
Minimum-70%below the priceKRW 3,333-86%below the price€25.98
Maximum+11%close to the priceKRW 12,106-7%close to the price€171
Median-39%below the priceKRW 6,626-39%below the price€112
Geometric mean-43%below the priceKRW 6,218-53%below the price€87.08

Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

Raonsecure Co.: 15 of 24 models see the stock below the current price.

SAP: 22 of 26 models see the stock below the current price.

Scenario ranges

From our cautious bear scenario to the optimistic bull scenario. The white tick is the current price (value above it), the green tick the fair value (value below it): if the price sits left of the fair value, there is room to rise.

Raonsecure Co.
Price KRW 10,950
Fair Value KRW 8,266
Bear KRW 6,386Bull KRW 10,746
SAP
Price €184
Fair Value €159
Bear €109Bull €220

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

Raonsecure Co. · Information Technology

Quality score69 · Top 25%
Fair value upside-25% · below median

SAP · Information Technology

Quality score81 · Top 25%
Fair value upside-14% · above median

Bottom line

As of Sep 25, 2026, Fair Value Calculator sees SAP as the less overvalued of the two: Raonsecure Co. trades at KRW 10,950 versus a fair value of KRW 8,266 (-25%), while SAP trades at €184 versus €159 (-14%).

SAP has the higher quality score (81/100).

Open SAP live analysis →

More comparisons

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.