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KC Co (029460) Fair Value & Analysis

Technology · KR · Market cap 317B KRW

KC KC Co 029460 · KO
Price34,650 KRW
Fair Value60,186 KRW
Upside+73.7%
Quality59/100
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Expensive Growth
Thin margins · 5.7% net margin
Low debt · generates free cash flow
1.55% dividend yield
Mixed vs. peers (5/10)
Narrow moat 36/100
Evidence: Medium Range 57,325 KRW – 92,849 KRW Share as image

Fair value as of: Jul 22, 2026

From 23 valuation models · updated 19 days ago

Fair value updated Jul 22, 2026, revised from 60,085 KRW to 60,186 KRW (+0.2%) since Jun 25, 2026. Share price +13.6% over the past month.

A solid business, screening 74% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (57,325 KRW). The market is more pessimistic than our downside scenario.
  • Solid quality (59/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

40,200 KRW 13,247 KRW Fair Value 60,186 KRW Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 22, 2026.

How to read this chart

60‑month range 13,247 KRW – 40,200 KRW · fair‑value band 57,325 KRW – 92,849 KRW · the 34,650 KRW price screens below the 60,186 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 22, 2026.

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Analysis

KC Co (029460) currently trades at 34,650 KRW, while our model-based Fair Value estimate is 60,186 KRW, implying the stock looks roughly 73.7% undervalued today. The Quality Score stands at 59/100 (solid quality), in the Technology 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: medium), always confirm before acting.

Over the trailing twelve months, KC Co generated revenue of 773B KRW at a net margin of 5.7%. Revenue declined 10.2% year over year. It earns a return on equity of 5.2%. Fundamentals as of Jul 22, 2026

Our scenario range runs from 57,325 KRW (bear case) to 92,849 KRW (bull case); at 34,650 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 19% below its 52-week high and 68% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -75% fair-value upside, at 74%, 029460 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 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
Highest evidence
Growth DCF 4,456 KRW 4,753 KRW 5,269 KRW 80
Residual Income 59,933 KRW 61,158 KRW 60,220 KRW 76
ROIC Compounder 26,994 KRW 31,046 KRW 34,647 KRW 72
All 23 models by family
DCF Models
FCF DCF 4,453 KRW 4,758 KRW 5,283 KRW 38
Owner Earnings 25,577 KRW 41,426 KRW 68,699 KRW 31
5Y Revenue Exit 29,407 KRW 54,046 KRW 87,617 KRW 39
5Y EBITDA Exit 43,222 KRW 81,338 KRW 128,667 KRW 41
5Y P/E Exit 42,664 KRW 80,236 KRW 122,345 KRW 38
10Y Revenue Exit 19,786 KRW 40,796 KRW 72,930 KRW 36
10Y EBITDA Exit 30,287 KRW 60,771 KRW 106,679 KRW 37
10Y P/E Exit 29,915 KRW 59,964 KRW 101,482 KRW 35
Earnings-Based
Graham-Dodd 26,835 KRW 106,112 KRW 144,120 KRW 54
Lynch FV 26,243 KRW 37,490 KRW 48,737 KRW 50
PEG = 1.0 26,243 KRW 37,490 KRW 48,737 KRW 46
EPV 26,994 KRW 31,046 KRW 34,647 KRW 59
Multiples
P/E Multiple 62,155 KRW 82,873 KRW 103,591 KRW 63
P/S Multiple 50,316 KRW 67,088 KRW 83,859 KRW 58
P/B Multiple 50,316 KRW 67,088 KRW 83,859 KRW 55
EV/EBIT 57,325 KRW 75,087 KRW 92,849 KRW 53
EV/EBITDA 67,094 KRW 88,112 KRW 109,131 KRW 54
EV/Revenue 42,070 KRW 58,370 KRW 74,669 KRW 43
Asset-Based
NCAV (Graham) 38,311 KRW 51,337 KRW 76,623 KRW 50
Growth DCF
Growth DCF 4,456 KRW 4,753 KRW 5,269 KRW 80
Economic Profit
Residual Income 59,933 KRW 61,158 KRW 60,220 KRW 76
ROIC Compounder 26,994 KRW 31,046 KRW 34,647 KRW 72
Growth Earnings
Growth-Adj P/E 46,508 KRW 66,440 KRW 86,372 KRW 68

Widest divergence: Multiples (67,088 KRW) versus Growth DCF (4,753 KRW). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 773B KRW
Revenue growth (YoY) -10.2%
Net margin 5.7%
Return on equity 5.2%
Free cash flow 358M KRW FY2025
Operating margin 6.6%
More key figures
Dividend yield 1.4%
EPS growth (YoY) +2.6%

Figures from reported company fundamentals · as of Jul 22, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 59/100

Of which business quality 58 · Market factors (momentum, volatility) 51

Profitability 33
Margins and returns on capital today
Quality Growth 60
Are margins and returns improving?
Cashflow 23
Earnings quality: real cash, not paper profit
Fin. Strength 83
Balance sheet, leverage, solvency risk
Investment 73
Disciplined investing over empire-building
Low Volatility 24
Calm price path (market factor)
Momentum 59
Price trend over the last 3–12 months (market factor)
52W Momentum 68
Distance to the 52-week high (market factor)
Net Issuance 91
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

KC Co., Ltd. manufactures and distributes semiconductor systems, display systems, and electronic materials in South Korea and internationally. The company offers semiconductor equipment, including chemical mechanical polishing equipment, and wet cleaning systems.

Full company description

KC Co., Ltd. manufactures and distributes semiconductor systems, display systems, and electronic materials in South Korea and internationally. The company offers semiconductor equipment, including chemical mechanical polishing equipment, and wet cleaning systems. It also offers display equipment, such as wet station systems, atmospheric pressure plasma cleaners, CO2 cleaners, and coater and track systems that are used in LCD, LTPS, OLED, and flexible display panels; and slurries and additives. In addition, the company provides nano dispersion materials used in LCD and OLED films; and other solvent dispersion materials. KC Co., Ltd. was founded in 1987 and is headquartered in Anseong-si, South Korea.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

KC Co reported revenue of 797B KRW in FY2025 versus 554B KRW in FY2021, a compound +9.5%/yr. Reported net income was 43.9B KRW in FY2025, compounding −4.3%/yr from FY2021.

Growth Quality 53/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
797B KRW
Latest YoY
+8.0%
Avg. growth/yr (3Y) 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.
−2.4%
Avg. growth/yr (5Y) 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.
+6.7%
Avg. growth/yr (22Y) 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.
+10.7%
Revenue +9.5%/yr
FY21 554B KRW
FY22 858B KRW
FY23 727B KRW
FY24 738B KRW
FY25 797B KRW
Net income −4.3%/yr
FY21 52.2B KRW
FY22 99.5B KRW
FY23 47.5B KRW
FY24 46.5B KRW
FY25 43.9B KRW

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Cite: Fair Value Calculator (2026). "KC Co Fair Value". https://www.fairvalue-calculator.com/stock/029460

Peer Group

Semiconductor Equipment & Materials · 212 stocks

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.

Quality Score 59 · Above median
Fair Value upside +74% · Top 25%
Return on equity (TTM) 5% · Below median
Return on assets 2% · Below median
Net margin (TTM) 6% · Below median
Operating margin (TTM) 7% · Below median
Revenue growth -10% · Bottom 25%
Dividend yield (TTM) 1.6% · Above median
Debt / equity 0.02× · Lower than median

Valuation Multiples vs Semiconductor Equipment & Materials median · lower = cheaper

P/FCF 0.6× · Cheaper than median

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 0
FUTURE 0 · sector 58
PAST 21 · sector 30
HEALTH 99 · sector 96
DIVIDEND 31 · sector 16

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 Semiconductor Equipment & Materials stocks, each showing price versus our Fair Value estimate (as of Jul 22, 2026).

Stock Price Fair Value vs Fair Value
ASML Holding ASML C$50.50 C$15.57 -69%
Applied Materials, Inc AMAT $579.43 $143.08 -75%
Lam Research Corporation LRCX $346.10 $67.57 -80%
KLA Corporation KLAC $212.75 $53.01 -75%
NAURA Technology Group 002371 ¥774.20 ¥151.43 -80%
Advanced Micro-Fabrication Equipment Inc 688012 ¥350.69 ¥41.79 -88%
Piotech Inc 688072 ¥832.00 ¥431.44 -48%
Hon. Precision, Inc 7769 6,005 TWD 1,804 TWD -70%
Hangzhou Changchuan Technology Co 300604 ¥325.24 ¥33.33 -90%
MPI Corporation 6223 5,600 TWD 609.44 TWD -89%

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Frequently asked questions

Is KC Co (029460) overvalued or undervalued?
As of Jul 22, 2026, our model estimates a fair value of 60,186 KRW versus a price of 34,650 KRW, about +74% (undervalued).
What is the fair value of 029460?
Our model-based fair value for KC Co is 60,186 KRW (as of Jul 22, 2026), built from audited fundamentals. The current price is 34,650 KRW.
What is the quality score of 029460?
KC Co has a Quality Score of 59/100. 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 KC Co (029460)?
KC Co reported trailing-twelve-month revenue of about 773B KRW (latest available figure, as of Jul 22, 2026).
What is the net profit margin of 029460?
The net profit margin of KC Co is about 5.7%, meaning it keeps roughly 5.7% of revenue as net income. Based on the latest reported figures.
Does KC Co pay a dividend?
KC Co currently shows a dividend yield of about 1.37% relative to its recent price (as of Jul 22, 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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