Kginicis Co.Ltd (035600) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Kginicis Co.Ltd stock KRW 27,060, price KRW 9,020, upside +200.0%, quality 52 out of 100. Rating: strongly undervalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 8, 2026.
How to read this chart
60‑month range 7,423 KRW – 19,830 KRW · fair‑value band 20,295 KRW – 33,825 KRW · the 9,020 KRW price screens below the 27,060 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 8, 2026.
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Kginicis Co.,Ltd, together with its subsidiaries, provides electronic payment services in Korea, Asia, and internationally.
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The company offers electronic payment solutions, including mobile, rental, local currency, and global payment; VAN services, such as online and offline, SI franchise, merchant and card company data relay, table order, and settlement.
It also provides integrated authentication services comprising electronic signature and identity verification; cardholder verification services; cash receipt; text messaging; and payment agency solutions, as well as advertising platforms.
The company was founded in 1998 and is headquartered in Seoul, South Korea.
Stock analysis
Kginicis Co.Ltd (035600) currently trades at 9,020 KRW, while our model-based Fair Value estimate is 27,060 KRW, implying the stock looks roughly 67% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of 58,015 KRW per share, and 23 of the 26 models we run sit above the 9,020 KRW price.
Bear case: the Dividend Discount group reads lowest at 7,526 KRW, and 3 of the 26 models stay below the price. Data coverage for this calculation is low.
Scenario range: 20,295 KRW (bear) to 33,825 KRW (bull), the price of 9,020 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 52/100 (solid quality), in the Technology sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Kginicis Co.Ltd reported revenue of 1.4T KRW in FY2025 versus 1.0T KRW in FY2021, a compound +7.6%/yr. Reported net income was 47.9B KRW in FY2025, compounding −0.1%/yr from FY2021.
Key figures
Market cap 240B KRW (≈ $178M) Micro · P/E ratio 4.7 · P/S ratio 0.16 · EPS (TTM) 1,906 KRW · Dividend yield 6.7% · Net margin 3.5% · Return on equity 8.1% · Return on assets (EBIT) 5.5% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 34 out of 100 (low confidence).
What moves the price
The share trades about 24% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −11% fair-value upside, at 200%, 035600 screens cheaper than that median.
Fair Value models
Bear20,295 KRWFair Value 27,060 KRWBull33,825 KRW
Price 9,020 KRW · Upside +200.0%
Capped: our models arrive at a very high value here. We deliberately show a more cautious Fair Value.
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (1,120 KRW per share) are deliberately not added.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = 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.70/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+0.3%
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.
+4.9%
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.
+10.9%
Start year 2020 (pandemic). Over 10 years: +6.9% a year
Revenue growth 23 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.
+14.2%
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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.
+6.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year−0.1%
Dividend (yield on the price)6.7%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−0.1% vs 19.3%, slowing
Profit margin 2020 to 2025 ⓘ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.12% → 7%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−9.3%
The company could shrink this much every year for the next five years and today's price would still be justified.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+8.0%
Yearly sales growth analysts expect, extended to five years.
After inflation (South Korea: IMF forecast 2.1% a year to 2030, 2.1% from 2016 to 2025) that is about −11.2% a year for the price and +5.8% for the forecasts.
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.Software - Infrastructure · 346 stocks
Beats the industry median on 11/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score52 · Below median
Fair Value upside+200.0% · Top 25%
Profitability
Return on equity (12 months)8.1% · Above median
Return on assets2.4% · Above median
Net margin (12 months)3.5% · Below median
Operating margin (12 months)7.7% · Above median
Growth and dividend
Revenue growth (quarter YoY)15.0% · Above median
Dividend yield (12 months)6.7% · Top 25%
Balance sheet
Debt / equity0.29× · Above median
Valuation Multiplesvs Software - Infrastructure median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Kginicis Co.Ltd Fair Value". https://www.fairvalue-calculator.com/stock/035600
Frequently asked questions
Is Kginicis Co.Ltd (035600) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of 27,060 KRW versus a price of 9,020 KRW, about +200% upside (undervalued).
What is the fair value of 035600?
Our model-based fair value for Kginicis Co.Ltd is 27,060 KRW (as of Nov 8, 2026), built from audited fundamentals. The current price: 9,020 KRW.
What is the quality score of 035600?
Kginicis Co.Ltd has a Quality Score of 52/100. 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 Kginicis Co.Ltd (035600)?
Our model-based price target is the fair value of 27,060 KRW (as of Nov 8, 2026) from 26 valuation models. Cautious scenario 20,295 KRW, optimistic scenario 33,825 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Kginicis Co.Ltd stock forecast for 2026?
Our models put fair value at 27,060 KRW, about +200% upside versus a price of 9,020 KRW (undervalued). Cautious scenario 20,295 KRW, optimistic scenario 33,825 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Kginicis Co.Ltd (035600)?
Kginicis Co.Ltd reported trailing-twelve-month revenue of about 1.5T KRW (latest available figure, as of Nov 8, 2026).
Does Kginicis Co.Ltd pay a dividend?
Kginicis Co.Ltd currently shows a dividend yield of 6.65% relative to its recent price (as of Nov 8, 2026).
How much is the dividend of Kginicis Co.Ltd (035600) and when is the ex-dividend date?
Kginicis Co.Ltd pays a dividend of 600.00 KRW per share a year, a dividend yield of 6.7%. The last ex-dividend date was Dec 29, 2025. A dividend has been paid every year since at least 2011. The payout ratio is 31.5% of earnings. Free cash flow covers the dividend 5.62 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
What growth is priced into Kginicis Co.Ltd (035600)?
For today's price to be fair in a discounted-cash-flow model, Kginicis Co.Ltd would have to grow free cash flow by -9.3 % per year for five years (discount rate 12.2 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +10.9 % per year. As of Nov 8, 2026.
What discount rate (WACC) does the fair value of 035600 use?
Our models discount Kginicis Co.Ltd at 12.2 %: a base by market capitalisation (micro), damped by beta 0.70, country premium for South Korea. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Kginicis Co.Ltd that is -9.3 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (12.2 %) and the same formula as our fair value.
How much growth has Kginicis Co.Ltd (035600) delivered so far?
Over the past 5 years revenue at Kginicis Co.Ltd grew +10.9 % a year. The price currently implies free-cash-flow growth of -9.3 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Kginicis Co.Ltd (035600) growing?
The median revenue growth in the sector is +7.8 % a year. That is the yardstick for the growth priced into Kginicis Co.Ltd (-9.3 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Kginicis Co.Ltd (035600)?
The free-cash-flow yield on the price is 37.42 %: that much free cash flow Kginicis Co.Ltd produces per unit of market value. When it exceeds the discount rate of our models (12.2 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Kginicis Co.Ltd (035600)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Kginicis Co.Ltd it is 27,060 KRW per share (as of Nov 8, 2026), against a price of 9,020 KRW. It is the blended result of 26 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Kginicis Co.Ltd stock overvalued or undervalued in 2026?
As of Nov 8, 2026, 035600 trades below its calculated fair value: price 9,020 KRW, fair value 27,060 KRW, a gap of about +200% (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 035600?
No. The price is what the market pays today (9,020 KRW); the fair value is what the company's own numbers justify (27,060 KRW). For Kginicis Co.Ltd the two are 18,040 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Kginicis Co.Ltd worth?
The market values Kginicis Co.Ltd at about 240B KRW (market capitalisation, as of Nov 8, 2026). Per share that is 9,020 KRW; our models calculate a fair value of 27,060 KRW per share.
What do the bullish and bearish scenarios say about 035600?
Our models span a range for Kginicis Co.Ltd: cautious scenario 20,295 KRW, base 27,060 KRW, optimistic 33,825 KRW per share (as of Nov 8, 2026, price 9,020 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 035600?
Kginicis Co.Ltd trades at a price-to-earnings ratio of 4.7 (as of Nov 8, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 27,060 KRW is built from several models across several years. Median P/E at fiscal year-end, 9 fiscal years (2016 to 2025), reported earnings: 9.1. Other multiples: P/B 0.5, P/S 0.2, EV/EBITDA 1.8.
How solid is the balance sheet of Kginicis Co.Ltd (035600)?
Balance-sheet figures for Kginicis Co.Ltd (as of Nov 8, 2026): return on equity 8.1%, debt of 0.29 per unit of equity. They feed the Quality Score of 52/100, which measures business quality independently of the share price.
How far is 035600 from its 52-week high?
Kginicis Co.Ltd trades at 9,020 KRW, about 24% below its 52-week high of 11,910 KRW and at the low of 9,020 KRW (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 27,060 KRW is for.
Which stocks are comparable to Kginicis Co.Ltd?
From the same area (Technology) we also value Microsoft Corporation, Oracle Corporation, Palantir Technologies Inc, Palo Alto Networks, Inc, 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 Kginicis Co.Ltd stock attractive at the current price?
The data as of Nov 8, 2026: price 9,020 KRW, calculated fair value 27,060 KRW (+200%), Quality Score 52/100, from 26 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 035600 calculated?
We run Kginicis Co.Ltd through 26 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 27,060 KRW builds on their evidence-weighted average, 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 13.3% above its aggregate fair value. Kginicis Co.Ltd currently trades 67% 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 Kginicis Co.Ltd (035600)?
The closing price on Nov 6, 2026 was 9,020 KRW. Our model-based fair value is 27,060 KRW, about +200% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Kginicis Co.Ltd right now?
The price is below even our cautious bear case (20,295 KRW). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (52/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of Kginicis Co.Ltd
How large is the market capitalisation of Kginicis Co.Ltd (035600)?
The market capitalisation of Kginicis Co.Ltd is 240B KRW (≈ $178M). 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 Kginicis Co.Ltd (035600)?
The price-to-sales ratio of Kginicis Co.Ltd is 0.16 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Kginicis Co.Ltd (035600)?
Earnings per share at Kginicis Co.Ltd are 1,906 KRW (price ÷ EPS = P/E 4.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Kginicis Co.Ltd (035600)?
The dividend yield of Kginicis Co.Ltd is 6.7% (payout 31.5%). 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 Kginicis Co.Ltd (035600)?
The net margin of Kginicis Co.Ltd is 3.5% (last twelve months). 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 Kginicis Co.Ltd (035600)?
The return on equity (ROE) of Kginicis Co.Ltd is 8.1% (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 Kginicis Co.Ltd (035600)?
On an EBIT basis the return on assets of Kginicis Co.Ltd is 5.5% (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 Kginicis Co.Ltd (035600)?
The operating margin of Kginicis Co.Ltd is 7.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Kginicis Co.Ltd (035600)?
Revenue at Kginicis Co.Ltd is growing +15.0% versus a year earlier (3y avg +4.9%). 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 Kginicis Co.Ltd (035600)?
Earnings per share at Kginicis Co.Ltd are growing +13.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Kginicis Co.Ltd (035600) carry?
The net debt of Kginicis Co.Ltd is 399B KRW (fiscal year 2025, ≈ 4.4 yrs of FCF). 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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Thin data
Nov 8, 2026