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Comtec Sys (031820) Fair Value & Analysis

Technology · KR · Market cap 61.1B KRW

CS Comtec Sys 031820 · KO
Price6,100 KRW
Fair Value5,212 KRW
Upside-14.6%
Quality56/100
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Strengths

Healthy Growth
Low debt · generates free cash flow
Ranks above peers (8/10)

Risks

!Trades 15% ABOVE our fair value of 5,212 KRW
!Thin margins · 6.7% net margin
!Moderate moat 51/100
!Evidence only medium, so the estimate is less certain
Healthy Growth
Thin margins · 6.7% net margin
Low debt · generates free cash flow
Ranks above peers (8/10)
Moderate moat 51/100
Evidence: Medium Range 3,915 KRW – 11,302 KRW Share as image

Fair value as of: Aug 19, 2026

From 26 valuation models · updated yesterday

Fair value updated Aug 19, 2026, revised from 5,314 KRW to 5,212 KRW (−1.9%) since Aug 13, 2026. Share price +20.8% over the past month.

A solid business, but screening 15% overvalued on our models.

What matters now

  • The model range is unusually wide (3,915 KRW to 11,302 KRW). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Solid but not exceptional quality (56/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

14,750 KRW 4,570 KRW Fair Value 5,212 KRW Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 19, 2026.

How to read this chart

60‑month range 4,570 KRW – 14,750 KRW · fair‑value band 3,915 KRW – 11,302 KRW · the 6,100 KRW price screens above the 5,212 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 19, 2026.

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Analysis

Comtec Sys (031820) currently trades at 6,100 KRW, while our model-based Fair Value estimate is 5,212 KRW, implying the stock looks roughly 14.6% overvalued today. The Quality Score stands at 56/100 (solid quality), in the Technology sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).

Over the trailing twelve months, Comtec Sys generated revenue of 1.1T KRW at a net margin of 6.7%. Revenue grew 23.8% year over year. It earns a return on equity of 45.3%. Fundamentals as of Aug 19, 2026

Our scenario range runs from 3,915 KRW (bear case) to 11,302 KRW (bull case); at 6,100 KRW, the current price sits within 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 39% below its 52-week high and 21% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -50% fair-value upside, at -15%, 031820 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 55,664 KRW 102,173 KRW 177,517 KRW 80
Residual Income 31,063 KRW 45,626 KRW 342,578 KRW 76
Rev-Margin DCF 38,462 KRW 57,517 KRW 84,558 KRW 74
All 26 models by family
DCF Models
FCF DCF 57,102 KRW 93,148 KRW 186,778 KRW 38
Owner Earnings 55,644 KRW 103,201 KRW 196,858 KRW 31
5Y Revenue Exit 38,462 KRW 57,990 KRW 85,264 KRW 39
5Y EBITDA Exit 51,110 KRW 86,559 KRW 133,951 KRW 41
5Y P/E Exit 87,623 KRW 169,110 KRW 270,802 KRW 38
10Y Revenue Exit 43,352 KRW 65,203 KRW 98,873 KRW 36
10Y EBITDA Exit 52,750 KRW 87,308 KRW 145,695 KRW 37
10Y P/E Exit 77,916 KRW 151,116 KRW 271,185 KRW 35
Earnings-Based
Graham-Dodd 29,688 KRW 182,791 KRW 255,086 KRW 54
Lynch FV 52,443 KRW 74,918 KRW 97,393 KRW 50
PEG = 1.0 52,443 KRW 74,918 KRW 97,393 KRW 46
EPV 28,944 KRW 31,688 KRW 34,089 KRW 59
Dividend Discount
Gordon GGM 725.04 KRW 1,508 KRW 2,392 KRW 70
DDM Multi-Stage 725.04 KRW 1,271 KRW 1,582 KRW 61
Multiples
P/E Multiple 91,683 KRW 122,244 KRW 152,805 KRW 63
P/S Multiple 55,665 KRW 74,219 KRW 92,774 KRW 58
P/B Multiple 55,665 KRW 74,219 KRW 92,774 KRW 55
EV/EBIT 47,507 KRW 59,184 KRW 70,861 KRW 53
EV/EBITDA 50,158 KRW 62,719 KRW 75,279 KRW 54
EV/Revenue 30,186 KRW 37,777 KRW 45,367 KRW 43
Asset-Based
NCAV (Graham) 9,464 KRW 12,681 KRW 18,927 KRW 50
Growth DCF
Growth DCF 55,664 KRW 102,173 KRW 177,517 KRW 80
Rev-Margin DCF 38,462 KRW 57,517 KRW 84,558 KRW 74
Economic Profit
Residual Income 31,063 KRW 45,626 KRW 342,578 KRW 76
ROIC Compounder 32,310 KRW 40,378 KRW 51,347 KRW 72
Growth Earnings
Growth-Adj P/E 86,881 KRW 124,115 KRW 161,350 KRW 68

Widest divergence: Growth Earnings (124,115 KRW) versus Dividend Discount (1,271 KRW). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 1.1T KRW
Revenue growth (YoY) +23.8%
Net margin 6.7%
Return on equity 45.3%
Free cash flow 36.9B KRW FY2025
Operating margin 1.4%
More key figures
EPS growth (YoY) +753%

Figures from reported company fundamentals · as of Aug 19, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 56/100

Of which business quality 55 · Market factors (momentum, volatility) 30

Profitability 57
Margins and returns on capital today
Quality Growth 54
Are margins and returns improving?
Cashflow 36
Earnings quality: real cash, not paper profit
Fin. Strength 56
Balance sheet, leverage, solvency risk
Investment 51
Disciplined investing over empire-building
Low Volatility 49
Calm price path (market factor)
Momentum 20
Price trend over the last 3–12 months (market factor)
52W Momentum 26
Distance to the 52-week high (market factor)
Net Issuance 82
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

Itcencts Co.,Ltd. engages in the sale, installation, and maintenance of data communication equipment in Korea and internationally.

Full company description

Itcencts Co.,Ltd. engages in the sale, installation, and maintenance of data communication equipment in Korea and internationally. It also offers construction, computer system integration advisory, IT consulting, cloud transition, construction consulting, building integrated infrastructure systems, tamper-proof security, and biometric authentication services. The company was formerly known as Comtec Systems Co.,Ltd. and changed its name to Itcencts Co.,Ltd. in April 2025. Itcencts Co.,Ltd. was founded in 1983 and is headquartered in Seoul, South Korea.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Comtec Sys reported revenue of 1.1T KRW in FY2025 versus 383B KRW in FY2021, a compound +30.1%/yr. Reported net income was 52.8B KRW in FY2025, compounding +117.0%/yr from FY2021.

Growth Quality 90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
1.1T KRW
Latest YoY
+10.0%
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.
+15.6%
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.
+35.6%
Avg. growth/yr (18Y) 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.
+12.0%
Revenue +30.1%/yr
FY21 383B KRW
FY22 710B KRW
FY23 893B KRW
FY24 995B KRW
FY25 1.1T KRW
Net income +117.0%/yr
FY21 2.4B KRW
FY22 24.3B KRW
FY23 4.0B KRW
FY24 18.7B KRW
FY25 52.8B KRW

031820 screens 15% overvalued. Compare with Cisco Systems, Inc →

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Cite: Fair Value Calculator (2026). "Comtec Sys Fair Value". https://www.fairvalue-calculator.com/stock/031820

Peer Group

Communication Equipment · 303 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 56 · Above median
Fair Value upside −15% · Above median
Return on equity (TTM) 45% · Top 25%
Return on assets 3% · Above median
Net margin (TTM) 7% · Above median
Operating margin (TTM) 1% · Below median
Revenue growth 24% · Above median
Dividend yield (TTM) 1.3% · Above median
Debt / equity 0.07× · Higher than median

Valuation Multiples vs Communication Equipment median · lower = cheaper

P/FCF 0.0× · 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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE14 · sector 0
FUTURE100 · sector 34
PAST100 · sector 14
HEALTH97 · sector 98
DIVIDEND26 · sector 23

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 Communication Equipment stocks, each showing price versus our Fair Value estimate (as of Aug 19, 2026).

Stock Price Fair Value vs Fair Value
Cisco Systems, Inc CSCO $111.61 $61.53 -45%
Zhongji Innolight Co 300308 ¥921.00 ¥171.09 -81%
Foxconn Industrial Internet Co 601138 ¥61.83 ¥28.65 -54%
Eoptolink Technology Inc 300502 ¥429.90 ¥176.99 -59%
Nokia Oyj NOK $10.32 $3.77 -63%
Motorola Solutions, Inc MSI $469.74 $236.33 -50%
Suzhou TFC Optical Communication Co 300394 ¥276.25 ¥43.67 -84%
Accton Technology Corporation 2345 2,270 TWD 1,135 TWD -50%
Telefonaktiebolaget LM Ericsson (publ), ERICB kr 96.52 kr 157.82 +64%
ZTE Corporation 000063 ¥33.67 ¥19.72 -41%

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Frequently asked questions

Is Comtec Sys (031820) overvalued or undervalued?
As of Aug 19, 2026, our model estimates a fair value of 5,212 KRW versus a price of 6,100 KRW, about −15% (overvalued).
What is the fair value of 031820?
Our model-based fair value for Comtec Sys is 5,212 KRW (as of Aug 19, 2026), built from audited fundamentals. The current price: 6,100 KRW.
What is the quality score of 031820?
Comtec Sys has a Quality Score of 56/100. 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 Comtec Sys (031820)?
Comtec Sys reported trailing-twelve-month revenue of about 1.1T KRW (latest available figure, as of Aug 19, 2026).
What is the net profit margin of 031820?
The net profit margin of Comtec Sys is about 6.7%, meaning it keeps roughly 6.7% of revenue as net income. Based on the latest reported figures.

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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