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Daishin Sec (003540) fair value: what the stock is really worth

As of Sep 23, 2026: fair value of Daishin Sec KRW 43,081, price KRW 26,050, upside +65.4%, quality 20 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? No
  3. Add to watchlist

Financial Services · KR · ISIN KR7003540002

DS Some data Sep 24, 2026

Daishin Sec

003540 · KO

Cheap, value-trap riskThe stock looks deeply undervalued, but low quality raises value-trap risk.

✓Fair value 43,081 KRW · Strongly undervalued (+65%)
!Quality 20/100
!Weak Growth (revenue 5y +1.3 %/yr)
!Thin margins · 5.3% net margin (TTM)
!Moderate debt · negative free cash flow
·4.61% dividend yield
!Trails peers (3/9)
!Narrow moat 38/100
!Evidence only medium, so the estimate is less certain
!Weak on past: 28 out of 100
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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

47,524 KRW 10,140 KRW Fair Value 43,081 KRW Apr 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

60‑month range 10,140 KRW – 47,524 KRW · fair‑value band 32,311 KRW – 53,851 KRW · the 26,050 KRW price screens below the 43,081 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

Daishin Securities Co.,Ltd operates as a financial investment company in Korea and internationally. It engages in the investment management and trading, investment brokerage, trust, investment advisory, etc.

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Daishin Securities Co.,Ltd operates as a financial investment company in Korea and internationally. It engages in the investment management and trading, investment brokerage, trust, investment advisory, etc. The company also provides retirement pension products; and real estate trust, urban renewal projects, collateralized bond trust, agency services, consulting, Real Estate Investment Trusts (REITs), and asset management services for REITs. In addition, it offers internet banking services; financial products including bonds, fund management services, ELS/DLS products, trust, automatic investment service, KOSDAQ venture fund, ISA (individual savings account), pension savings account, bancassurance/retirement pension, robo-advisor, affiliate card services; ritz products; and stock/futures options products. The company was formerly known as Samrak Securities Co., Ltd. and changed its name to Daishin Securities Co., Ltd. in April 1975. Daishin Securities Co.,Ltd was founded in 1962 and is headquartered in Seoul, South Korea.

Stock analysis

Daishin Sec (003540) currently trades at 26,050 KRW, while our model-based Fair Value estimate is 43,081 KRW, implying the stock looks roughly 39.5% undervalued today.

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Valuation

How firm this estimate is: it rests on 15 models at a data quality of 95/100, which puts the evidence level at medium.

Scenario range: 32,311 KRW (bear) to 53,851 KRW (bull), the price of 26,050 KRW sits below 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 20/100 (below-average quality), in the Financial Services sector.

Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.

Daishin Sec reported revenue of 1.0T KRW in FY2025 versus 1.6T KRW in FY2021, a compound −11.6%/yr. Reported net income was 187B KRW in FY2025, compounding −25.8%/yr from FY2021.

Key figures

Market cap 1.8T KRW (≈ $1.2B) · P/S ratio 0.37 · Dividend yield 4.6% · Net margin 18.6% · Return on equity 6.9% · Return on assets (EBIT) 4.1% · Operating margin 22.7% · Revenue growth (YoY) +135%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (medium confidence).

What moves the price

The share trades about 45% below its 52-week high and 9% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Financial Services peers we cover trades at −20% fair-value upside, at 65%, 003540 screens cheaper than that median.

Fair Value models

Bear 32,311 KRW Fair Value 43,081 KRW Bull 53,851 KRW
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. 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. Evidence ⓘEvidence = 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.
Highest evidence
P/B Multiple 38,013 KRW 50,684 KRW 63,355 KRW 53
NCAV (Graham) 29,814 KRW 39,951 KRW 59,628 KRW 52
All 2 models by family
Multiples
P/B Multiple 38,013 KRW 50,684 KRW 63,355 KRW 53
Asset-Based
NCAV (Graham) 29,814 KRW 39,951 KRW 59,628 KRW 52

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Quality Score breakdown

Overall quality 20/100

Of which business quality 30 · Market factors (momentum, volatility) 30

Profitability 28
Margins and returns on capital today
Quality Growth 49
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 62
Balance sheet, leverage, solvency risk
Investment 40
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 21
Price trend over the last 3–12 months (market factor)
52W Momentum 20
Distance to the 52-week high (market factor)
Net Issuance 0
Share count: buybacks or dilution?

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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. 28/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+25.2%
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.
−7.8%
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.
+1.3%
Start year 2020 (pandemic). Over 10 years: −10.7% a year
Revenue growth 24 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.
+2.2%
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.
−3.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year−7.7%
Dividend (yield on the price)4.6%
Profit margin 2013 to 2018 ⓘ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.29% → 96%

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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.Capital Markets · 463 stocks

Beats the industry median on 3/9 measures
Overall it trails its industry peers.
Valuation
Quality Score 28 · Bottom 25%
Fair Value upside +65% · Above median
Profitability
Return on equity (TTM) 7% · Below median
Return on assets 1% · Below median
Net margin (TTM) 5% · Below median
Operating margin (TTM) 23% · Below median
Growth and dividend
Revenue growth 135% · Top 25%
Dividend yield (TTM) 4.6% · Top 25%
Balance sheet
Debt / equity 1.25× · Highest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 27
FUTURE (revenue growth)100 · sector 91
PAST (return on equity)28 · sector 30
HEALTH (low debt)38 · sector 95
DIVIDEND (yield)92 · sector 41

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 Capital Markets stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Morgan Stanley, a financial holding company, MS $200.18 $312.73 +56%
The Goldman Sachs Group GS $949.49 $756.89 −20%
The Charles Schwab Corporation SCHW $100.35 $117.26 +17%
Interactive Brokers Group IBKR $91.88 $23.37 −75%
Robinhood Markets, Inc HOOD $124.25 $47.73 −62%
Macquarie Group MQG A$242.35 A$75.58 −69%
CITIC Securities Company 600030 ¥26.79 ¥18.35 −32%
Guotai Haitong Securities Co 601211 ¥17.67 ¥19.29 +9%
East Money Information Co 300059 ¥18.77 ¥4.94 −74%
CSC Financial Co 601066 ¥23.67 ¥39.83 +68%

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Daishin Sec · Fair Value
43,081 KRW +40%Fair Value
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Cite: Fair Value Calculator (2026). "Daishin Sec Fair Value". https://www.fairvalue-calculator.com/stock/003540

Frequently asked questions

Is Daishin Sec (003540) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 43,081 KRW versus a price of 26,050 KRW, about +65% upside (undervalued).
What is the fair value of 003540?
Our model-based fair value for Daishin Sec is 43,081 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 26,050 KRW.
What is the quality score of 003540?
Daishin Sec has a Quality Score of 20/100. 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 Daishin Sec (003540)?
Our model-based price target is the fair value of 43,081 KRW (as of Sep 24, 2026) from 2 valuation models. Cautious scenario 32,311 KRW, optimistic scenario 53,851 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Daishin Sec stock forecast for 2026?
Our models put fair value at 43,081 KRW, about +65% upside versus a price of 26,050 KRW (undervalued). Cautious scenario 32,311 KRW, optimistic scenario 53,851 KRW. The calculation is refreshed regularly with new filings.
Does Daishin Sec pay a dividend?
Daishin Sec currently shows a dividend yield of about 4.61% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Daishin Sec (003540)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Daishin Sec it is 43,081 KRW per share (as of Sep 24, 2026), against a price of 26,050 KRW. It is the blended result of 2 valuation models (cash flow, earnings, asset, dividend).
Is Daishin Sec stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 003540 trades below its calculated fair value: price 26,050 KRW, fair value 43,081 KRW, a gap of about +65% (undervalued). 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 003540?
No. The price is what the market pays today (26,050 KRW); the fair value is what the company's own numbers justify (43,081 KRW). For Daishin Sec the two are 17,031 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Daishin Sec worth?
The market values Daishin Sec at about 1.8T KRW (market capitalisation, as of Sep 24, 2026). Per share that is 26,050 KRW; our models calculate a fair value of 43,081 KRW per share.
What do the bullish and bearish scenarios say about 003540?
Our models span a range for Daishin Sec: cautious scenario 32,311 KRW, base 43,081 KRW, optimistic 53,851 KRW per share (as of Sep 24, 2026, price 26,050 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Daishin Sec (003540)?
Balance-sheet figures for Daishin Sec (as of Sep 24, 2026): return on equity 6.9%, debt of 1.25 per unit of equity. They feed the Quality Score of 20/100, which measures business quality independently of the share price.
How far is 003540 from its 52-week high?
Daishin Sec trades at 26,050 KRW, about 45% below its 52-week high of 47,524 KRW and 9% above the low of 23,950 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 43,081 KRW is for.
Which stocks are comparable to Daishin Sec?
From the same area (Financial Services) we also value Morgan Stanley, a financial holding company,, The Goldman Sachs Group, The Charles Schwab Corporation, Interactive Brokers 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 Daishin Sec stock attractive at the current price?
The data as of Sep 24, 2026: price 26,050 KRW, calculated fair value 43,081 KRW (+65%), Quality Score 20/100, from 2 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 003540 calculated?
We run Daishin Sec through 2 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 43,081 KRW, 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 14.1 % above its aggregate fair value. Daishin Sec currently trades 65 % below its own fair value, and the market average says nothing about that. 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 Daishin Sec (003540)?
The closing price on Sep 23, 2026 was 26,050 KRW. Our model-based fair value is 43,081 KRW, about +65% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Daishin Sec right now?
The large discount to fair value meets weak quality (20/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (32,311 KRW). The market is more pessimistic than our downside scenario. 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 Daishin Sec

How large is the market capitalisation of Daishin Sec (003540)?
The market capitalisation of Daishin Sec is 1.8T KRW (≈ $1.2B). 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 Daishin Sec (003540)?
The price-to-sales ratio of Daishin Sec is 0.37 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the dividend yield of Daishin Sec (003540)?
The dividend yield of Daishin Sec is 4.6%. 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 Daishin Sec (003540)?
The net margin of Daishin Sec is 18.6% (fiscal year 2025). 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 Daishin Sec (003540)?
The return on equity (ROE) of Daishin Sec is 6.9% (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 Daishin Sec (003540)?
On an EBIT basis the return on assets of Daishin Sec is 4.1% (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 Daishin Sec (003540)?
The operating margin of Daishin Sec is 22.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Daishin Sec (003540)?
Revenue at Daishin Sec is growing +135% versus a year earlier (3y avg −7.8%). 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 Daishin Sec (003540)?
Earnings per share at Daishin Sec are growing +85.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Daishin Sec (003540) generate?
The free cash flow of Daishin Sec is −3.3T 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 Daishin Sec (003540) carry?
The net debt of Daishin Sec is 7.7T 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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