Korea Ratings Corporation (034950) Fair Value & Analysis
Financial Services · KR · Market cap 451B KRW
Fair value as of: Jul 20, 2026
From 12 valuation models · updated 21 days ago
Share price −0.1% over the past month.
A strong business, but screening 59% overvalued on our models.
What matters now
- A high-quality business (quality 82/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
- The price sits above even our optimistic bull case (51,882 KRW). The favourable scenario is already priced in.
- For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Price vs Fair Value (5 years)
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 50,448 KRW – 111,200 KRW · fair‑value band 31,129 KRW – 51,882 KRW · the 102,100 KRW price screens above the 41,505 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.
Analysis
Korea Ratings Corporation (034950) currently trades at 102,100 KRW, while our model-based Fair Value estimate is 41,505 KRW, implying the stock looks roughly 59.4% overvalued today. The Quality Score stands at 82/100 (high quality), in the Financial Services 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, Korea Ratings Corporation generated revenue of 110B KRW at a net margin of 23.2%. Revenue grew 2.8% year over year. It earns a return on equity of 26.2%. Fundamentals as of Jul 20, 2026
Our scenario range runs from 31,129 KRW (bear case) to 51,882 KRW (bull case); at 102,100 KRW, the current price sits above 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 10% below its 52-week high and 17% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at 11% fair-value upside, at -59%, 034950 screens richer 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.
All 12 models by family
Widest divergence: DCF Models (113,934 KRW) versus Asset-Based (19,863 KRW). Highest evidence: Residual Income (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 20, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 80 · Market factors (momentum, volatility) 63
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
Korea Ratings Corporation, together with its subsidiaries, provides credit rating and business valuation services in South Korea. The company offers credit evaluation of commercial papers, corporate bonds, financial bonds and ABS, business feasibility review, business valuation, as well as SOC and financial consulting; and information services.
Full company description
Korea Ratings Corporation, together with its subsidiaries, provides credit rating and business valuation services in South Korea. The company offers credit evaluation of commercial papers, corporate bonds, financial bonds and ABS, business feasibility review, business valuation, as well as SOC and financial consulting; and information services. It also provides withersful services, electronic procurement system, and payment-type e-marketplace services for business. The company was formerly known as Korea Management Consulting Credit Rating Corporation and changed its name to Korea Ratings Corporation in January 2003. The company was founded in 1983 and is headquartered in Seoul, South Korea. Korea Ratings Corporation operates as a subsidiary of Fitch Ratings, Ltd.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Korea Ratings Corporation reported revenue of 110B KRW in FY2025 versus 105B KRW in FY2021, a compound +1.2%/yr. Reported net income was 25.2B KRW in FY2025, compounding +3.2%/yr from FY2021.
034950 screens 59% overvalued. Compare with Huatai Securities Co →
Peer Group
Capital Markets · 423 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.
Valuation Multiples vs Capital Markets median · lower = cheaper
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 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Capital Markets stocks, each showing price versus our Fair Value estimate (as of Jul 20, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Huatai Securities Co HTSC | $0.2700 | $0.0400 | -85% |
| Mirae Asset Securities Co 006800 | 38,750 KRW | 31,645 KRW | -18% |
| Meritz Financial Group 138040 | 117,000 KRW | 87,706 KRW | -25% |
| Korea Investment Holdings 071050 | 239,000 KRW | 318,825 KRW | +33% |
| NH Investment & Securities Co 005940 | 31,000 KRW | 37,133 KRW | +20% |
| Samsung Securities Co 016360 | 107,700 KRW | 126,487 KRW | +17% |
| Motilal Oswal Financial Services Limited MOTILALOFS | ₹967.00 | ₹299.65 | -69% |
| Kiwoom Securities Co 039490 | 322,000 KRW | 358,091 KRW | +11% |
| SSI Securities Corporation SSI | 24,250 VND | 28,021 VND | +16% |
| Bolsas y Mercados Argentinos S.A BYMA | 313.75 ARS | 120.22 ARS | -62% |
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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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