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

As of Nov 6, 2026: fair value (intrinsic value) of Daishin Sec stock KRW 21,094, price KRW 21,300, that is 1.0% below the price, quality 29 out of 100. Rating: fairly valued. Calculated from audited financials with 6 of our 26 valuation models and 37 quality factors, updated daily.

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Financial Services KR · ISIN KR7003540002

DS Daishin Sec logo Some data Nov 5, 2026

Daishin Sec

003540 · KO
Fairly valued, weak quality

The stock costs about what our calculation considers fair.

5.6% dividend yield · Low payout
Revenue last quarter +130% vs. a year ago.
Fair value 21,094 KRW · Fairly valued
Thin margins · 7.3% net margin (TTM)
Mixed vs. peers (7/12)
Moderate moat 45/100
Some data
Quality 29/100
Weak Growth (revenue 5y +1.3 %/yr in KRW)
⚠ Dilution
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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 21,094 KRW Jun 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 5, 2026.

How to read this chart

60‑month range 10,140 KRW – 47,524 KRW · fair‑value band 15,821 KRW – 26,368 KRW · the 21,300 KRW price screens above the 21,094 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 5, 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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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 21,300 KRW, while our model-based Fair Value estimate is 21,094 KRW, so the stock looks roughly fairly valued today (gap 1.0%).

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Valuation

Bull case: the Economic Profit group reads highest at a median of 42,755 KRW per share, and 4 of the 6 models we run sit above the 21,300 KRW price.

Bear case: the Dividend Discount group reads lowest at 21,073 KRW, and 2 of the 6 models stay below the price. Data coverage for this calculation is medium.

Scenario range: 15,821 KRW (bear) to 26,368 KRW (bull), the price of 21,300 KRW sits inside 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 29/100 (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 1.4T KRW (≈ $1.1B) Small · P/E ratio 9.7 · P/S ratio 1.79 · EPS (TTM) 2,376 KRW · Dividend yield 5.6% · Net margin 18.6% · Return on equity 10.8% · Return on assets (EBIT) 4.1% (5-year average).

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 45 out of 100 (medium confidence).

What moves the price

The share trades about 55% below its 52-week high and at its 52-week low, currently below its 200-day average.

For context, the median of 10 Financial Services peers we cover trades at −11% fair-value upside, at −1%, 003540 screens cheaper than that median.

Fair Value models

Bear 15,821 KRW Fair Value 21,094 KRW Bull 26,368 KRW
Price 21,300 KRW · Downside -1.0%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (1,008 KRW per share) are deliberately not added. 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Coverage ⓘCoverage = 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.
Best data coverage
Residual Income 43,097 KRW 42,755 KRW 44,213 KRW 75
Gordon GGM 12,095 KRW 22,106 KRW 30,809 KRW 65
DDM Multi-Stage 12,095 KRW 20,041 KRW 23,578 KRW 65
All 6 models by family
Dividend Discount
Gordon GGM 12,095 KRW 22,106 KRW 30,809 KRW 65
DDM Multi-Stage 12,095 KRW 20,041 KRW 23,578 KRW 65
Multiples
P/E Multiple 26,761 KRW 35,681 KRW 44,601 KRW 61
P/B Multiple 10,465 KRW 13,953 KRW 17,441 KRW 53
Asset-Based
NCAV (Graham) 28,700 KRW 38,458 KRW 57,400 KRW 52
Economic Profit
Residual Income 43,097 KRW 42,755 KRW 44,213 KRW 75

The fair value above starts from this blend and is adjusted for dilution from new shares.

Open the full fair value analysis →

Quality Score breakdown

Overall quality 29/100

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

Profitability 28
How much profit the company makes from its sales and capital
Quality Growth 49
Are margins and returns getting better?
Cashflow 0
Do the profits arrive as real cash?
Financial strength 62
Debt, balance sheet and risk of trouble
Investment 40
Does it invest with discipline instead of growing at any price?
Low Volatility 50
How calm the share price moves, does not count
Price momentum 17
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 4
Distance to the 52-week high, does not count
New shares 0
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. 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.
−2.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year−7.7%
Dividend (yield on the price)5.6%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−7.7% vs 10.5%, slowing
Pace: the 5-year rate starts in 2020 (pandemic)

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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 · 384 stocks

Beats the industry median on 7/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 29 · Bottom 25%
Fair Value upside −1.0% · Below median
Profitability
Return on equity (12 months) 10.8% · Above median
Return on assets 0.5% · Bottom 25%
Net margin (12 months) 7.3% · Bottom 25%
Operating margin (12 months) 43.5% · Above median
Growth and dividend
Revenue growth (quarter YoY) 129.6% · Top 25%
Dividend yield (12 months) 5.6% · Top 25%
Balance sheet
Debt / equity 1.25× · Highest 25%

Valuation Multiplesvs Capital Markets median · lower = cheaper

P/E (12 months) 9.7× · Cheaper than median
P/B 0.36× · Cheapest 25%
P/S (12 months) 0.24× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)32 · sector 42
FUTURE (revenue growth)100 · sector 68
PAST (return on equity)43 · sector 38
HEALTH (low debt)–
DIVIDEND (yield)100 · sector 47

HEALTH: for banks, insurers and similar financial firms borrowed money is part of the business, so we do not rate debt here.

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 Compare
Morgan Stanley MS $181.44 $260.72 +44% vs 003540
The Charles Schwab Corporation SCHW $91.49 $117.60 +29% vs 003540
Guotai Haitong Securities Co 601211 ¥16.46 ¥18.02 +9% vs 003540
Nomura Holdings NMR $9.42 $10.17 +8% vs 003540
The Goldman Sachs Group GS $865.82 $766.86 −11% vs 003540
CITIC Securities Company 600030 ¥25.72 ¥20.42 −21% vs 003540
Robinhood Markets, Inc HOOD $80.91 $47.60 −41% vs 003540
Macquarie Group MQG A$247.94 A$123.84 −50% vs 003540
East Money Information Co 300059 ¥18.78 ¥6.72 −64% vs 003540
Interactive Brokers Group IBKR $75.82 $17.48 −77% vs 003540

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Daishin Sec: fair value per Fair Value Calculator

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 Nov 5, 2026, our model estimates a fair value of 21,094 KRW versus a price of 21,300 KRW, about 1% lower (fairly valued).
What is the fair value of 003540?
Our model-based fair value for Daishin Sec is 21,094 KRW (as of Nov 5, 2026), built from audited fundamentals. The current price: 21,300 KRW.
What is the quality score of 003540?
Daishin Sec has a Quality Score of 29/100. 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 21,094 KRW (as of Nov 5, 2026) from 6 valuation models. Cautious scenario 15,821 KRW, optimistic scenario 26,368 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 21,094 KRW, about 1% lower versus a price of 21,300 KRW (fairly valued). Cautious scenario 15,821 KRW, optimistic scenario 26,368 KRW. The calculation is refreshed regularly with new filings.
Does Daishin Sec pay a dividend?
Daishin Sec currently shows a dividend yield of 5.63% relative to its recent price (as of Nov 5, 2026).
How much is the dividend of Daishin Sec (003540) and when is the ex-dividend date?
Daishin Sec pays a dividend of 1,200 KRW per share a year, a dividend yield of 5.6%. The last ex-dividend date was Mar 26, 2026. The payout ratio is 50.5% of earnings. Our assessment: Low payout. A low payout ratio: the dividend takes at most 60 % of earnings. Whether free cash flow covers it as well, we cannot see for this company.
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 21,094 KRW per share (as of Nov 5, 2026), against a price of 21,300 KRW. It is the blended result of 6 valuation models in 4 families (Dividend Discount, Multiples, Asset-Based, Economic Profit).
Is Daishin Sec stock overvalued or undervalued in 2026?
As of Nov 5, 2026, 003540 trades above its calculated fair value: price 21,300 KRW, fair value 21,094 KRW, a gap of about −1% (fairly valued). 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 (21,300 KRW); the fair value is what the company's own numbers justify (21,094 KRW). For Daishin Sec the two are 205.62 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 1.4T KRW (market capitalisation, as of Nov 5, 2026). Per share that is 21,300 KRW; our models calculate a fair value of 21,094 KRW per share.
What do the bullish and bearish scenarios say about 003540?
Our models span a range for Daishin Sec: cautious scenario 15,821 KRW, base 21,094 KRW, optimistic 26,368 KRW per share (as of Nov 5, 2026, price 21,300 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 003540?
Daishin Sec trades at a price-to-earnings ratio of 9.7 (as of Nov 5, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 21,094 KRW is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings: 4.1. Other multiples: P/B 0.4, P/S 0.2.
How solid is the balance sheet of Daishin Sec (003540)?
Balance-sheet figures for Daishin Sec (as of Nov 5, 2026): return on equity 10.8%, debt of 1.25 per unit of equity. They feed the Quality Score of 29/100, which measures business quality independently of the share price.
How far is 003540 from its 52-week high?
Daishin Sec trades at 21,300 KRW, about 55% below its 52-week high of 47,524 KRW and at the low of 21,300 KRW (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 21,094 KRW is for.
Which stocks are comparable to Daishin Sec?
From the same area (Financial Services) we also value Morgan Stanley, 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 Nov 5, 2026: price 21,300 KRW, calculated fair value 21,094 KRW (−1%), Quality Score 29/100, from 6 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 6 models from 4 families: Dividend Discount, Multiples, Asset-Based, Economic Profit. Every model gets the same audited fundamentals; the fair value of 21,094 KRW builds on their evidence-weighted average, 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 13.3% above its aggregate fair value. Daishin Sec 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 Daishin Sec (003540)?
The closing price on Nov 6, 2026 was 21,300 KRW. Our model-based fair value is 21,094 KRW, about 1% lower (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Daishin Sec right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. 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 1.4T KRW (≈ $1.1B). 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 1.79 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Daishin Sec (003540)?
Earnings per share at Daishin Sec are 2,376 KRW (price ÷ EPS = P/E 9.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Daishin Sec (003540)?
The dividend yield of Daishin Sec is 5.6% (payout 50.5%). 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 10.8% (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 43.5% (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 +130% 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 +255% 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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