Both stocks run through our valuation models. Here is how Raonsecure Co. (042510) and SAP (SAP) compare, as of Aug 11, 2026.
As of Aug 11, 2026, Fair Value Calculator sees Raonsecure Co. as the less overvalued of the two: Raonsecure Co. trades at KRW 8,350 versus a fair value of KRW 6,260 (-25%), while SAP trades at €179 versus €126 (-30%).
Raonsecure Co.
042510.KQ · KRW · Information Technology
-25%
upside to fair value
overvalued
PriceKRW 8,350
Fair ValueKRW 6,260
Quality69/100
SAP
SAP.XETRA · EUR · Information Technology
-30%
upside to fair value
overvalued
Price€179
Fair Value€126
Quality81/100
Head-to-head numbers
Green value = the better side for that row (for valuation multiples: lower = cheaper).
Raonsecure Co.SAP
Valuation
—P/E (TTM)22.1×
—P/S (TTM)4.98×
—P/B4.16×
—EV/EBITDA15.7×
—PEG1.37×
—Dividend yield1.8%
—Dividend per share€2.50
Profitability
7%Net margin20%
-23%Operating margin30%
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%
Balance & size
0.01×Debt / equity0.09×
$55MMarket cap$186B
healthyGrowth qualityhealthy
SAP leads: 3 to 5 metric wins.
Dash = 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 15SAPof which business quality 78 · market factors 42
ProfitabilityMargins and returns on capital today
51
62
Quality GrowthAre margins and returns improving?
49
76
CashflowEarnings quality: real cash, not paper profit
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)
9
42
52W MomentumDistance to the 52-week high (market factor)
11
20
Net IssuanceBuybacks instead of dilution
100
84
What the models say
The median fair value (base case) per model family, each in the currency of its trading venue. Green = above the current price, red = below.
Raonsecure Co.
DCF ModelsKRW 12,256
Earnings-BasedKRW 4,742
MultiplesKRW 5,790
Asset-BasedKRW 3,333
Growth DCFKRW 12,198
Economic ProfitKRW 4,215
Growth EarningsKRW 6,961
14 of 24 models see the stock below the current price.
SAP
DCF Models€134
Earnings-Based€60.32
Dividend Discount€41.03
Multiples€116
Asset-Based€25.68
Growth DCF€116
Economic Profit€69.81
Growth Earnings€116
26 of 26 models see the stock below the current price.
Scenario ranges
From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.
Raonsecure Co.
Bear KRW 4,695Fair Value KRW 6,260Bull KRW 7,545
KRW 8,350 = current price (white tick)
SAP
Bear €89.01Fair Value €126Bull €157
€179 = current price (white tick)
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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% · above median
SAP · Information Technology
Quality score81 · Top 25%
Fair value upside-30% · above median
Bottom line
As of Aug 11, 2026, Fair Value Calculator sees Raonsecure Co. as the less overvalued of the two: Raonsecure Co. trades at KRW 8,350 versus a fair value of KRW 6,260 (-25%), while SAP trades at €179 versus €126 (-30%).
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A model-based valuation snapshot from 21 models. Values change with price and fundamentals; the date shown above applies.
