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STOCK COMPARISON

Inswave Systems Co. vs International Business Machines: Fair Value & Quality

Both stocks run through our valuation models. Here is how Inswave Systems Co. (450520) and International Business Machines (IBM) compare, as of Aug 25, 2026.

As of Aug 25, 2026, Fair Value Calculator sees Inswave Systems Co. as the less overvalued of the two: Inswave Systems Co. trades at KRW 2,000 versus a fair value of KRW 1,772 (-11%), while International Business Machines trades at $231 versus $176 (-24%).
Inswave Systems Co.
450520.KQ · KRW · Technology
-11%
upside to fair value
overvalued
PriceKRW 2,000
Fair ValueKRW 1,772
Quality51/100
International Business Machines
IBM · USD · Information Technology
-24%
upside to fair value
overvalued
Price$231
Fair Value$176
Quality67/100
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Head-to-head numbers

Green value = the better side for that row (for valuation multiples: lower = cheaper).

Inswave Systems Co.International Business Machines
Valuation
P/E (TTM)25.7×
P/S (TTM)2.96×
P/B6.25×
EV/EBITDA14.8×
PEG2.71×
Dividend yield2.9%
Dividend per share$6.72
Profitability
-7%Net margin16%
-25%Operating margin14%
-7%Return on equity36%
-5%Return on assets5%
Growth
58%Revenue growth (YoY)10%
-3.7%Avg. growth/yr (3Y)3.7%
Avg. growth/yr (5Y)-1.7%
Balance & size
Debt / equity1.68×
$19MMarket cap$204B
weakGrowth qualityweak

International Business Machines leads: 1 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.

Inswave Systems Co.of which business quality 51 · market factors 22 International Business Machinesof which business quality 61 · market factors 38
ProfitabilityMargins and returns on capital today
19
59
Quality GrowthAre margins and returns improving?
61
68
CashflowEarnings quality: real cash, not paper profit
33
70
Fin. StrengthBalance sheet, leverage, solvency risk
82
39
InvestmentDisciplined investing over empire-building
37
66
Low VolatilityCalm price path (market factor)
62
54
MomentumPrice trend over the last 3–12 months (market factor)
5
35
52W MomentumDistance to the 52-week high (market factor)
6
24
Net IssuanceBuybacks instead of dilution
82
69

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.

Inswave Systems Co.

Asset-BasedKRW 1,846

1 of 1 models see the stock below the current price.

International Business Machines

DCF Models$170
Earnings-Based$84.63
Dividend Discount$76.30
Multiples$206
Asset-Based$23.27
Growth DCF$125
Economic Profit$84.51
Growth Earnings$237

21 of 24 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.

Inswave Systems Co.
Bear KRW 1,170Fair Value KRW 1,772Bull KRW 2,215
KRW 2,000 = current price (white tick)
International Business Machines
Bear $111Fair Value $176Bull $273
$231 = 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.

Inswave Systems Co. · Technology

Quality score51 · above median
Fair value upside-11% · above median

International Business Machines · Information Technology

Quality score67 · Top 25%
Fair value upside-24% · above median

Bottom line

As of Aug 25, 2026, Fair Value Calculator sees Inswave Systems Co. as the less overvalued of the two: Inswave Systems Co. trades at KRW 2,000 versus a fair value of KRW 1,772 (-11%), while International Business Machines trades at $231 versus $176 (-24%).

International Business Machines has the higher quality score (67/100).

See the full analysis →

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