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NICE Holdings (034310) Fair Value & Analysis

Financial Services · KR · Market cap 440B KRW

NH NICE Holdings 034310 · KO
Price12,680 KRW
Fair Value18,065 KRW
Upside+42.5%
Quality62/100
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Healthy Growth
Thin margins · 1.3% net margin
Low debt · generates free cash flow
4.42% dividend yield
Trails peers (3/10)
Narrow moat 36/100
Evidence: Medium Range 17,523 KRW – 18,368 KRW Share as image

Fair value as of: Jul 24, 2026

From 11 valuation models · updated 17 days ago

Share price +9.2% over the past month.

A solid business, screening 42% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (17,523 KRW). The market is more pessimistic than our downside scenario.
  • Solid quality (62/100) at a price below fair value, the discount is the argument here, not the business quality.
  • The models converge in a tight band (17,523 KRW to 18,368 KRW), unusually little disagreement for a valuation.
  • 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)

16,449 KRW 9,229 KRW Fair Value 18,065 KRW Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 24, 2026.

How to read this chart

60‑month range 9,229 KRW – 16,449 KRW · fair‑value band 17,523 KRW – 18,368 KRW · the 12,680 KRW price screens below the 18,065 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 24, 2026.

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Analysis

NICE Holdings (034310) currently trades at 12,680 KRW, while our model-based Fair Value estimate is 18,065 KRW, implying the stock looks roughly 42.5% undervalued today. The Quality Score stands at 62/100 (solid quality), in the Financial Services 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, NICE Holdings generated revenue of 3.3T KRW at a net margin of 1.3%. Revenue grew 5.9% year over year. It earns a return on equity of 7.0%. Net debt stands at 156B KRW. Fundamentals as of Jul 24, 2026

Our scenario range runs from 17,523 KRW (bear case) to 18,368 KRW (bull case); at 12,680 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 15% below its 52-week high and 9% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at -53% fair-value upside, at 42%, 034310 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 149,801 KRW 292,030 KRW 527,459 KRW 80
Residual Income 16,938 KRW 17,224 KRW 16,790 KRW 76
Rev-Margin DCF 96,083 KRW 149,543 KRW 223,671 KRW 74
All 11 models by family
DCF Models
Owner Earnings 79,832 KRW 144,061 KRW 272,032 KRW 31
5Y P/E Exit 65,581 KRW 83,365 KRW 102,142 KRW 38
10Y P/E Exit 91,477 KRW 119,510 KRW 156,687 KRW 35
Earnings-Based
Graham-Dodd 7,366 KRW 42,305 KRW 58,832 KRW 54
Lynch FV 11,920 KRW 17,029 KRW 22,138 KRW 50
Multiples
P/E Multiple 10,562 KRW 14,083 KRW 17,603 KRW 63
P/B Multiple 13,812 KRW 18,416 KRW 23,020 KRW 55
Asset-Based
NCAV (Graham) 10,880 KRW 14,580 KRW 21,761 KRW 50
Growth DCF
Growth DCF 149,801 KRW 292,030 KRW 527,459 KRW 80
Rev-Margin DCF 96,083 KRW 149,543 KRW 223,671 KRW 74
Economic Profit
Residual Income 16,938 KRW 17,224 KRW 16,790 KRW 76

Widest divergence: Growth DCF (149,543 KRW) versus Multiples (14,083 KRW). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 3.3T KRW
Revenue growth (YoY) +5.9%
Net margin 1.3%
Return on equity 7.0%
Free cash flow 308B KRW FY2025
Operating margin 5.4%
More key figures
Dividend yield 4.6%
EPS growth (YoY) +77.6%
Net debt 156B KRW FY2025

Figures from reported company fundamentals · as of Jul 24, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 62/100

Of which business quality 60 · Market factors (momentum, volatility) 48

Profitability 47
Margins and returns on capital today
Quality Growth 51
Are margins and returns improving?
Cashflow 67
Earnings quality: real cash, not paper profit
Fin. Strength 38
Balance sheet, leverage, solvency risk
Investment 93
Disciplined investing over empire-building
Low Volatility 82
Calm price path (market factor)
Momentum 30
Price trend over the last 3–12 months (market factor)
52W Momentum 38
Distance to the 52-week high (market factor)
Net Issuance 88
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

NICE Holdings Co., Ltd. provides credit information services in South Korea, Europe, China, and internationally. It offers rating services, such as personal credit assessment, credit rating of individual business operators, corporate credit rating, tech credit bureau, and ESG assessment; credit rating for corporate bonds and commercial papers, credit rating …

Full company description

NICE Holdings Co., Ltd. provides credit information services in South Korea, Europe, China, and internationally. It offers rating services, such as personal credit assessment, credit rating of individual business operators, corporate credit rating, tech credit bureau, and ESG assessment; credit rating for corporate bonds and commercial papers, credit rating for short-term bonds and asset-backed securities, and business feasibility assessment services; and bond asset mark to market, ELS/DLS fair valuation, and alternative investment fair valuation services. The company also provides payment services, including offline (VAN) and online (PG) payment processing, and cash payment services; and manufactures and sells POS/CAT terminals and kiosks, as well as manages investments in equities and bonds. In addition, it produces and supplies various system semiconductor products for mobile, wearable devices, home appliances, and automobiles; protective circuits for secondary batteries; and aluminum alloy materials, such as bumper structural materials and EV battery parts for mobility solutions. Further, the company manufactures power supply devices used for IT and industrial appliances; beauty devices comprising UP6, time machine, hot and cool, UPS, ray, and cover and clean; and food and industrial packing material solutions; and provides electronics manufacturing services, such as payment terminals and kiosks. Additionally, it is involved in aluminum billet cast and extrusion, eco-friendly wrappers, cable communication equipment, and Korean restaurant businesses; and provision of asset management, real estate rental, big data analysis, consulting, data processing, electronic bill brokerage, parking system and management, ad-agency, bond pricing, payment gateway, and credit card transaction services, as well as manufactures and sales of secondary battery protection circuit. NICE Holdings Co., Ltd. was incorporated in 1986 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

NICE Holdings reported revenue of 3.2T KRW in FY2025 versus 2.4T KRW in FY2021, a compound +7.3%/yr. Reported net income was 37.6B KRW in FY2025, compounding −10.3%/yr from FY2021.

Growth Quality 80/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
3.2T KRW
Latest YoY
+6.7%
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.
+5.6%
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.
+9.5%
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.
+14.4%
Revenue +7.3%/yr
FY21 2.4T KRW
FY22 2.8T KRW
FY23 2.8T KRW
FY24 3.0T KRW
FY25 3.2T KRW
Net income −10.3%/yr
FY21 58.2B KRW
FY22 36.7B KRW
FY23 3.9B KRW
FY24 47.5B KRW
FY25 37.6B KRW

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Cite: Fair Value Calculator (2026). "NICE Holdings Fair Value". https://www.fairvalue-calculator.com/stock/034310

Peer Group

Financial Data & Stock Exchanges · 54 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 62 · Below median
Fair Value upside +43% · Top 25%
Return on equity (TTM) 7% · Bottom 25%
Return on assets 4% · Below median
Net margin (TTM) 1% · Bottom 25%
Operating margin (TTM) 5% · Bottom 25%
Revenue growth 6% · Bottom 25%
Dividend yield (TTM) 4.4% · Top 25%
Debt / equity 0.16× · Higher than median

Valuation Multiples vs Financial Data & Stock Exchanges 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.

VALUE 90 · sector 0
FUTURE 30 · sector 69
PAST 28 · sector 77
HEALTH 92 · sector 94
DIVIDEND 88 · sector 32

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 Financial Data & Stock Exchanges stocks, each showing price versus our Fair Value estimate (as of Jul 24, 2026).

Stock Price Fair Value vs Fair Value
S&P Global Inc SPGI $450.84 $196.36 -56%
CME Group CME $245.05 $145.51 -41%
Moody's Corporation MCO $504.46 $194.82 -61%
Intercontinental Exchange, Inc ICE $139.65 $75.95 -46%
Deutsche Börse AG DB1 €260.90 €142.42 -45%
Nasdaq, Inc NDAQ $88.08 $41.12 -53%
MSCI Inc MSCI $604.71 $214.91 -64%
Coinbase Global, Inc COIN $160.49 $57.05 -64%
Cboe Global Markets, Inc CBOE $273.41 $136.64 -50%
Hithink RoyalFlush Information Network Co 300033 ¥215.56 ¥55.36 -74%

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Frequently asked questions

Is NICE Holdings (034310) overvalued or undervalued?
As of Jul 24, 2026, our model estimates a fair value of 18,065 KRW versus a price of 12,680 KRW, about +42% (undervalued).
What is the fair value of 034310?
Our model-based fair value for NICE Holdings is 18,065 KRW (as of Jul 24, 2026), built from audited fundamentals. The current price is 12,680 KRW.
What is the quality score of 034310?
NICE Holdings has a Quality Score of 62/100. 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 NICE Holdings (034310)?
NICE Holdings reported trailing-twelve-month revenue of about 3.3T KRW (latest available figure, as of Jul 24, 2026).
What is the net profit margin of 034310?
The net profit margin of NICE Holdings is about 1.3%, meaning it keeps roughly 1.3% of revenue as net income. Based on the latest reported figures.
Does NICE Holdings pay a dividend?
NICE Holdings currently shows a dividend yield of about 4.60% relative to its recent price (as of Jul 24, 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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