Industrial Bank Of Korea (024110) fair value: what the stock is really worth
We calculate from audited financials what Industrial Bank Of Korea is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 18, 2026.
How to read this chart
60‑month range 6,517 KRW – 27,279 KRW · fair‑value band 36,759 KRW – 49,403 KRW · the 20,000 KRW price screens below the 40,300 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 18, 2026.
Industrial Bank of Korea operates as a small and medium-sized enterprise (SME) financing bank in Korea and internationally.
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Industrial Bank of Korea operates as a small and medium-sized enterprise (SME) financing bank in Korea and internationally. It provides personal and corporate banking, such as check, transfer, deposit/trust, fund, insurance, credit card, loan, forex, dues, check/draft, information management, retirement pension, and B2B; and provides various financial products and services, including personal and corporate product mail, product guide and tree; smart finance; banking, product, and affiliate services; and customer preferential service, as well as financial information for corporate management support, legal support, stock, real estate, and auction/public auction. The company also offers card information/application, card finance loan, My card management, personal and corporate card services, and guide. In addition, it provides customer consultation, financial consumer portal, report loss, information on application for fraudulent use charger, reference room, bank usage information, event, privacy policy, customer verification, system information, door-to door sales, personal inquiry, and loan originator integrated. Further, the company offers electronic financial fraud prevention, security measures, financial transaction precautions, PC security service, overseas IP blocking service, new deposit account designation, service with limited usage time, and delayed transfer; engages in SME, retail, and investment banking; and capital markets. Industrial Bank of Korea was founded in 1961 and is headquartered in Seoul, South Korea.
Stock analysis
Industrial Bank Of Korea (024110) currently trades at 20,000 KRW, while our model-based Fair Value estimate is 40,300 KRW, implying the stock looks roughly 50.4% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 44,198 KRW per share, and 5 of the 6 models we run sit above the 20,000 KRW price.
Bear case: the Dividend Discount group reads lowest at 19,179 KRW, and 1 of the 6 models stay below the price. Evidence for this calculation is medium.
Scenario range: 36,759 KRW (bear) to 49,403 KRW (bull), the price of 20,000 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 38/100 (below-average quality), in the Financial Services sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Industrial Bank Of Korea reported revenue of 10.0T KRW in FY2025 versus 7.9T KRW in FY2021, a compound +5.9%/yr. Reported net income was 2.7T KRW in FY2025, compounding +3.0%/yr from FY2021.
Key figures
Market cap 15.9T KRW (≈ $11.2B) · P/S ratio 1.90 · Dividend yield 6.3% · Net margin 27.2% · Return on equity 7.4% · Return on assets (EBIT) 0.8% · Operating margin 43.2% · Revenue (TTM) 9.0T KRW.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).
What moves the price
The share trades about 29% below its 52-week high and 28% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −31% fair-value upside, at 102%, 024110 screens cheaper than that median.
Fair Value models
Bear 36,759 KRWFair Value 40,300 KRWBull 49,403 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.
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.46/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+4.9%
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.
+2.7%
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.
+6.6%
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.
+2.8%
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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.
+10.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+4.1%
Dividend (yield on the price)6.3%
Profit margin 2014 to 2019 ⓘ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.64% → 40%
Compare Industrial Bank Of Korea with another stock
Price, fair value, quality and upside side by side.
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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.Banks - Regional · 1073 stocks
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Cite: Fair Value Calculator (2026). "Industrial Bank Of Korea Fair Value". https://www.fairvalue-calculator.com/stock/024110
Frequently asked questions
Is Industrial Bank Of Korea (024110) overvalued or undervalued?
As of Sep 18, 2026, our model estimates a fair value of 40,300 KRW versus a price of 20,000 KRW, about +102% upside (undervalued).
What is the fair value of 024110?
Our model-based fair value for Industrial Bank Of Korea is 40,300 KRW (as of Sep 18, 2026), built from audited fundamentals. The current price: 20,000 KRW.
What is the quality score of 024110?
Industrial Bank Of Korea has a Quality Score of 38/100. 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 Industrial Bank Of Korea (024110)?
Our model-based price target is the fair value of 40,300 KRW (as of Sep 18, 2026) from 6 valuation models. Cautious scenario 36,759 KRW, optimistic scenario 49,403 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Industrial Bank Of Korea stock forecast for 2026?
Our models put fair value at 40,300 KRW, about +102% upside versus a price of 20,000 KRW (undervalued). Cautious scenario 36,759 KRW, optimistic scenario 49,403 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Industrial Bank Of Korea (024110)?
Industrial Bank Of Korea reported trailing-twelve-month revenue of about 9.0T KRW (latest available figure, as of Sep 18, 2026).
Does Industrial Bank Of Korea pay a dividend?
Industrial Bank Of Korea currently shows a dividend yield of about 6.29% relative to its recent price (as of Sep 18, 2026).
What is the intrinsic value of Industrial Bank Of Korea (024110)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Industrial Bank Of Korea it is 40,300 KRW per share (as of Sep 18, 2026), against a price of 20,000 KRW. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is Industrial Bank Of Korea stock overvalued or undervalued in 2026?
As of Sep 18, 2026, 024110 trades below its calculated fair value: price 20,000 KRW, fair value 40,300 KRW, a gap of about +102% (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 024110?
No. The price is what the market pays today (20,000 KRW); the fair value is what the company's own numbers justify (40,300 KRW). For Industrial Bank Of Korea the two are 20,300 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Industrial Bank Of Korea worth?
The market values Industrial Bank Of Korea at about 15.9T KRW (market capitalisation, as of Sep 18, 2026). Per share that is 20,000 KRW; our models calculate a fair value of 40,300 KRW per share.
What do the bullish and bearish scenarios say about 024110?
Our models span a range for Industrial Bank Of Korea: cautious scenario 36,759 KRW, base 40,300 KRW, optimistic 49,403 KRW per share (as of Sep 18, 2026, price 20,000 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Industrial Bank Of Korea (024110)?
Balance-sheet figures for Industrial Bank Of Korea (as of Sep 18, 2026): return on equity 7.4%, debt of 4.25 per unit of equity. They feed the Quality Score of 38/100, which measures business quality independently of the share price.
How far is 024110 from its 52-week high?
Industrial Bank Of Korea trades at 20,000 KRW, about 29% below its 52-week high of 28,235 KRW and 28% above the low of 15,680 KRW (as of Sep 18, 2026). Distance from the high says nothing about value: that is what the fair value of 40,300 KRW is for.
Which stocks are comparable to Industrial Bank Of Korea?
From the same area (Financial Services) we also value DBS Group, China Merchants Bank Co, Intesa Sanpaolo S.p.A, HDFC Bank Limited, 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 Industrial Bank Of Korea stock attractive at the current price?
The data as of Sep 18, 2026: price 20,000 KRW, calculated fair value 40,300 KRW (+102%), Quality Score 38/100, 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 024110 calculated?
We run Industrial Bank Of Korea through 6 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 40,300 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 16.1 % above its aggregate fair value. Industrial Bank Of Korea currently trades 102 % 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 Industrial Bank Of Korea (024110)?
The closing price on Sep 21, 2026 was 20,000 KRW. Our model-based fair value is 40,300 KRW, about +102% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Industrial Bank Of Korea right now?
The large discount to fair value meets weak quality (38/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (36,759 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 Industrial Bank Of Korea
How large is the market capitalisation of Industrial Bank Of Korea (024110)?
The market capitalisation of Industrial Bank Of Korea is 15.9T KRW (≈ $11.2B). 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 Industrial Bank Of Korea (024110)?
The price-to-sales ratio of Industrial Bank Of Korea is 1.90 (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 Industrial Bank Of Korea (024110)?
The dividend yield of Industrial Bank Of Korea is 6.3%. 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 Industrial Bank Of Korea (024110)?
The net margin of Industrial Bank Of Korea is 27.2% (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 Industrial Bank Of Korea (024110)?
The return on equity (ROE) of Industrial Bank Of Korea is 7.4% (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 Industrial Bank Of Korea (024110)?
On an EBIT basis the return on assets of Industrial Bank Of Korea is 0.8% (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 Industrial Bank Of Korea (024110)?
The operating margin of Industrial Bank Of Korea is 43.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Industrial Bank Of Korea (024110)?
Revenue at Industrial Bank Of Korea is growing −0.3% versus a year earlier (3y avg +2.7%). 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 Industrial Bank Of Korea (024110)?
Earnings per share at Industrial Bank Of Korea are growing −8.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Industrial Bank Of Korea (024110) generate?
The free cash flow of Industrial Bank Of Korea is −3.2T 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 Industrial Bank Of Korea (024110) carry?
The net debt of Industrial Bank Of Korea is 227T 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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