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Han Kook Capital.Co., Ltd (023760) Fair Value & Analysis

Financials · KR · Market cap 222B KRW

HK Han Kook Capital.Co., Ltd 023760 · KQ
Price670.00 KRW
Fair Value1,396 KRW
Upside+108.4%
Quality41/100
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Expensive Growth
High debt · negative free cash flow
3.75% dividend yield
Mixed vs. peers (4/8)
Moderate moat 58/100
Evidence: High Range 1,047 KRW – 1,745 KRW Share as image

Fair value as of: Jul 20, 2026

From 4 valuation models · updated 20 days ago

Fair value updated Jul 20, 2026, revised from 1,446 KRW to 1,396 KRW (−3.5%) since Jul 5, 2026. Share price −5.5% over the past month.

Below-average quality, screening 108% undervalued on our models.

What matters now

  • The large discount to fair value meets weak quality (41/100). That raises the risk this is a value trap rather than a bargain.
  • The price is below even our cautious bear case (1,047 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.
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Price vs Fair Value (5 years)

1,176 KRW 377.03 KRW Fair Value 1,396 KRW Mar 2021 Jul 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 20, 2026.

How to read this chart

60‑month range 377.03 KRW – 1,176 KRW · fair‑value band 1,047 KRW – 1,745 KRW · the 670.00 KRW price screens below the 1,396 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 20, 2026.

Full chart & analysis →

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Analysis

Han Kook Capital.Co., Ltd (023760) currently trades at 670.00 KRW, while our model-based Fair Value estimate is 1,396 KRW, implying the stock looks roughly 108.4% undervalued today. The Quality Score stands at 41/100 (below-average quality), in the Financials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Trailing-twelve-month revenue stands at 9.1B KRW. Revenue grew 20.4% year over year. Net debt stands at 4.0T KRW. Fundamentals as of Jul 20, 2026

Our scenario range runs from 1,047 KRW (bear case) to 1,745 KRW (bull case); at 670.00 KRW, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 46% below its 52-week high, currently below its 200-day average. For context, the median of 10 Financials peers we cover trades at 47% fair-value upside, at 108%, 023760 screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Residual Income 2,347 KRW 2,979 KRW 7,536 KRW 76
P/E Multiple 3,132 KRW 4,176 KRW 5,221 KRW 63
P/B Multiple 2,531 KRW 3,374 KRW 4,218 KRW 55
All 4 models by family
Multiples
P/E Multiple 3,132 KRW 4,176 KRW 5,221 KRW 63
P/B Multiple 2,531 KRW 3,374 KRW 4,218 KRW 55
Asset-Based
NCAV (Graham) 1,205 KRW 1,615 KRW 2,410 KRW 50
Economic Profit
Residual Income 2,347 KRW 2,979 KRW 7,536 KRW 76

Widest divergence: Multiples (3,374 KRW) versus Asset-Based (1,615 KRW). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 9.1B KRW
Revenue growth (YoY) +20.4%
Net margin -273%
Return on equity 1,082%
Free cash flow −529B KRW FY2025
Operating margin -1.2%
More key figures
Dividend yield 3.8%
EPS growth (YoY) +36.3%
Net debt 4.0T KRW FY2025

Figures from reported company fundamentals · as of Jul 20, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 41/100

Of which business quality 33 · Market factors (momentum, volatility) 29

Profitability 38
Margins and returns on capital today
Quality Growth 47
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 12
Balance sheet, leverage, solvency risk
Investment 46
Disciplined investing over empire-building
Low Volatility 68
Calm price path (market factor)
Momentum 15
Price trend over the last 3–12 months (market factor)
52W Momentum 11
Distance to the 52-week high (market factor)
Net Issuance 81
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Han Kook Capital.Co., Ltd, together with its subsidiary, operates as a credit specialty company in South Korea. It primarily provides lease, venture capital, credits, factoring, and corporate restructuring services. The company was formerly known as Chungbu Leasing & Finance Co., Ltd. and changed its name to Han Kook Capital.Co., Ltd in October 2001.

Full company description

Han Kook Capital.Co., Ltd, together with its subsidiary, operates as a credit specialty company in South Korea. It primarily provides lease, venture capital, credits, factoring, and corporate restructuring services. The company was formerly known as Chungbu Leasing & Finance Co., Ltd. and changed its name to Han Kook Capital.Co., Ltd in October 2001. Han Kook Capital.Co., Ltd was founded in 1989 and is based in Seoul, South Korea.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Han Kook Capital.Co., Ltd reported revenue of 183B KRW in FY2025 versus 165B KRW in FY2021, a compound +2.7%/yr. Reported net income was 101B KRW in FY2025, compounding +17.3%/yr from FY2021.

Growth Quality 40/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
183B KRW
Latest YoY
−31.9%
Avg. growth/yr (3Y)
−1.0%
Avg. growth/yr (5Y)
+6.6%
Avg. growth/yr (26Y)
−1.9%
Revenue +2.7%/yr
FY21 165B KRW
FY22 189B KRW
FY23 231B KRW
FY24 269B KRW
FY25 183B KRW
Net income +17.3%/yr
FY21 53.1B KRW
FY22 65.1B KRW
FY23 66.2B KRW
FY24 81.1B KRW
FY25 101B KRW

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Cite: Fair Value Calculator (2026). "Han Kook Capital.Co., Ltd Fair Value". https://www.fairvalue-calculator.com/stock/023760

Peer Group

Financials · 3352 stocks

How this stock ranks against its sector: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median. (Industry “Banking Services” was too small, so the broader sector is used.)

Quality Score 38 · Bottom 25%
Fair Value upside +108% · Top 25%
Return on assets 0% · Bottom 25%
Operating margin (TTM) -1% · Bottom 25%
Revenue growth 20% · Above median
Dividend yield (TTM) 3.8% · Above median
Debt / equity 4.72× · Higher than 75% of peers

Valuation Multiples vs Financials median · lower = cheaper

P/S (TTM) 0.02× · Cheaper than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 100 · sector 32
FUTURE 100 · sector 37
PAST 0 · sector 38
HEALTH 0 · sector 87
DIVIDEND 75 · sector 54

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Banking Services stocks, each showing price versus our Fair Value estimate (as of Jul 20, 2026).

Stock Price Fair Value vs Fair Value
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LTG LTG 14.30 PHP 28.60 PHP +100%
FDC FDC 4.27 PHP 8.54 PHP +100%
535789 535789 ₹175.35 ₹258.44 +47%
533295 533295 ₹23.19 ₹28.07 +21%
Sangsangin Co 038540 1,997 KRW 3,994 KRW +100%
BPC BPC 0.0850 PLN 0.0100 PLN -88%
Mason Capital Corporation 021880 1,133 KRW 182.72 KRW -84%
KIFS KIFS ₹115.00 ₹95.97 -17%
ACME ACME ₹30.40 ₹7.20 -76%

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Frequently asked questions

Is Han Kook Capital.Co., Ltd (023760) overvalued or undervalued?
As of Jul 20, 2026, our model estimates a fair value of 1,396 KRW versus a price of 670.00 KRW, about +108% (undervalued).
What is the fair value of 023760?
Our model-based fair value for Han Kook Capital.Co., Ltd is 1,396 KRW (as of Jul 20, 2026), built from audited fundamentals. The current price is 670.00 KRW.
What is the quality score of 023760?
Han Kook Capital.Co., Ltd has a Quality Score of 41/100. 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 revenue of Han Kook Capital.Co., Ltd (023760)?
Han Kook Capital.Co., Ltd reported trailing-twelve-month revenue of about 9.1B KRW (latest available figure, as of Jul 20, 2026).
Does Han Kook Capital.Co., Ltd pay a dividend?
Han Kook Capital.Co., Ltd currently shows a dividend yield of about 3.75% relative to its recent price (as of Jul 20, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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