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Cloud Air Co.Ltd (036170) fair value: what the stock is really worth

As of Sep 23, 2026: fair value of Cloud Air Co.Ltd KRW 2,322, price KRW 2,710, upside -14.3%, quality 58 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? Yes
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Technology · KR · ISIN KR7036170009

CA Thin data Sep 24, 2026

Cloud Air Co.Ltd

036170 · KQ

Overvalued / MonitorQuality is not strong enough to offset the price risk.

!Fair value 2,322 KRW · Overvalued (−14%)
!Quality 58/100
!Expensive Growth (revenue 5y +18.5 %/yr)
✓Highly profitable · 57.0% net margin (TTM)
!Low debt · negative free cash flow
!Trails peers (3/8)
!Moderate moat 47/100
!Evidence only low, so the estimate is less certain
!Weak on valuation: 14 out of 100

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

8,770 KRW 758.00 KRW Fair Value 2,322 KRW May 2021 Sep 2026

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

How to read this chart

60‑month range 758.00 KRW – 8,770 KRW · fair‑value band 1,626 KRW – 3,019 KRW · the 2,710 KRW price screens above the 2,322 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

Cloud Air Co.,Ltd. engages in manufacturing and selling light emitting diode (LED) packages and modules in South Korea. The company offers automotive LED lighting modules. It also develops a technology for extracting the raw material (hematococcus) of astaxanthin. The company was formerly known as Livefinancial Co.,Ltd.

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Cloud Air Co.,Ltd. engages in manufacturing and selling light emitting diode (LED) packages and modules in South Korea. The company offers automotive LED lighting modules. It also develops a technology for extracting the raw material (hematococcus) of astaxanthin. The company was formerly known as Livefinancial Co.,Ltd. and changed its name to Cloud Air Co.,Ltd. in January 2021. Cloud Air Co.,Ltd. was founded in 1993 and is headquartered in Suwon-si, South Korea.

Stock analysis

Cloud Air Co.Ltd (036170) currently trades at 2,710 KRW, while our model-based Fair Value estimate is 2,322 KRW, implying the stock looks roughly 16.7% overvalued today.

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Valuation

Bull case: the Growth Earnings group reads highest at a median of 4,220 KRW per share, and 5 of the 13 models we run sit above the 2,710 KRW price.

Bear case: the Multiples group reads lowest at 725.73 KRW, and 8 of the 13 models stay below the price. Evidence for this calculation is low.

Scenario range: 1,626 KRW (bear) to 3,019 KRW (bull), the price of 2,710 KRW sits inside 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 58/100 (solid quality), in the Technology sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Cloud Air Co.Ltd reported revenue of 31.7B KRW in FY2025 versus 15.9B KRW in FY2021, a compound +18.9%/yr. Reported net income was 10.9B KRW in FY2025, compounding +63.7%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.

Key figures

Market cap 163B KRW (≈ $120M) · P/S ratio 12.4 · Net margin 34.4% · Return on equity 381% · Return on assets (EBIT) 0.0% · Operating margin −10.5% · Revenue (TTM) 13.6B KRW · Revenue growth (YoY) −15.6%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 37 out of 100 (medium confidence).

What moves the price

The share trades about 69% below its 52-week high and 231% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Technology peers we cover trades at −42% fair-value upside, at −14%, 036170 screens cheaper than that median.

Fair Value models

Bear 1,626 KRW Fair Value 2,322 KRW Bull 3,019 KRW
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single 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 ⓘEvidence = 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.
Highest evidence
Owner Earnings 1,301 KRW 2,258 KRW 3,667 KRW 74
Residual Income 1,678 KRW 1,728 KRW 1,725 KRW 69
Growth-Adj P/E 2,954 KRW 4,220 KRW 5,486 KRW 66
All 13 models by family
DCF Models
Owner Earnings 1,301 KRW 2,258 KRW 3,667 KRW 74
Earnings-Based
Graham-Dodd 1,231 KRW 6,046 KRW 8,335 KRW 61
Lynch FV 1,626 KRW 2,322 KRW 3,019 KRW 58
PEG = 1.0 1,626 KRW 2,322 KRW 3,019 KRW 55
Multiples
P/E Multiple 3,801 KRW 5,068 KRW 6,336 KRW 61
P/S Multiple 2,170 KRW 2,893 KRW 3,617 KRW 56
P/B Multiple 2,308 KRW 3,077 KRW 3,847 KRW 53
EV/EBIT 490.08 KRW 725.73 KRW 961.37 KRW 64
EV/EBITDA 465.57 KRW 693.04 KRW 920.51 KRW 65
EV/Revenue 140.55 KRW 293.71 KRW 446.88 KRW 50
Asset-Based
NCAV (Graham) 1,119 KRW 1,500 KRW 2,239 KRW 52
Economic Profit
Residual Income 1,678 KRW 1,728 KRW 1,725 KRW 69
Growth Earnings
Growth-Adj P/E 2,954 KRW 4,220 KRW 5,486 KRW 66

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Quality Score breakdown

Overall quality 58/100

Of which business quality 55 · Market factors (momentum, volatility) 38

Profitability 40
Margins and returns on capital today
Quality Growth 84
Are margins and returns improving?
Cashflow 5
Earnings quality: real cash, not paper profit
Fin. Strength 82
Balance sheet, leverage, solvency risk
Investment 58
Disciplined investing over empire-building
Low Volatility 11
Calm price path (market factor)
Momentum 43
Price trend over the last 3–12 months (market factor)
52W Momentum 62
Distance to the 52-week high (market factor)
Net Issuance 82
Share count: buybacks or dilution?

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Revenue & earnings trend

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. 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+109.1%
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.
+33.2%
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.
+18.5%
Start year 2020 (pandemic). Over 10 years: +4.4% a year
Revenue growth 10 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.
+4.4%
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. Basis: EBIT basis. 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.
≈ +46.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+46.6%
Dividend (yield on the price)0.0%
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.46% vs 21%, picking up
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.−35% → 8%
Start year 2020 (pandemic)
⚠ Revenue per share shrinking 12.9%/yr over ~7Y (margin trend unclear) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
⚠ Rate on operating basis: 2025 sits 98% above its own trend.

036170 screens 17% overvalued. Compare with TES Co →

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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.Semiconductors & Semiconductor Equipment · 48 stocks

Beats the industry median on 3/8 measures
Overall it trails its industry peers.
Valuation
Quality Score 58 · Below median
Fair Value upside −14% · Above median
Profitability
Return on equity (TTM) 381% · Top 25%
Return on assets −1% · Bottom 25%
Net margin (TTM) 57% · Top 25%
Operating margin (TTM) −11% · Bottom 25%
Growth and dividend
Revenue growth −16% · Bottom 25%
Balance sheet
Debt / equity 0.16× · Highest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)14 · sector 10
FUTURE (revenue growth)0 · sector 100
PAST (return on equity)100 · sector 100
HEALTH (low debt)92 · sector 99
DIVIDEND (yield)0 · sector 17

Context: sector, industry, market

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

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Cite: Fair Value Calculator (2026). "Cloud Air Co.Ltd Fair Value". https://www.fairvalue-calculator.com/stock/036170

Frequently asked questions

Is Cloud Air Co.Ltd (036170) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 2,322 KRW versus a price of 2,710 KRW, about −14% upside (overvalued).
What is the fair value of 036170?
Our model-based fair value for Cloud Air Co.Ltd is 2,322 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 2,710 KRW.
What is the quality score of 036170?
Cloud Air Co.Ltd has a Quality Score of 58/100. 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 Cloud Air Co.Ltd (036170)?
Our model-based price target is the fair value of 2,322 KRW (as of Sep 24, 2026) from 13 valuation models. Cautious scenario 1,626 KRW, optimistic scenario 3,019 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Cloud Air Co.Ltd stock forecast for 2026?
Our models put fair value at 2,322 KRW, about −14% upside versus a price of 2,710 KRW (overvalued). Cautious scenario 1,626 KRW, optimistic scenario 3,019 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Cloud Air Co.Ltd (036170)?
Cloud Air Co.Ltd reported trailing-twelve-month revenue of about 13.6B KRW (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of Cloud Air Co.Ltd (036170)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Cloud Air Co.Ltd it is 2,322 KRW per share (as of Sep 24, 2026), against a price of 2,710 KRW. It is the blended result of 13 valuation models (cash flow, earnings, asset, dividend).
Is Cloud Air Co.Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 036170 trades above its calculated fair value: price 2,710 KRW, fair value 2,322 KRW, a gap of about −14% (overvalued). 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 036170?
No. The price is what the market pays today (2,710 KRW); the fair value is what the company's own numbers justify (2,322 KRW). For Cloud Air Co.Ltd the two are 387.56 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Cloud Air Co.Ltd worth?
The market values Cloud Air Co.Ltd at about 163B KRW (market capitalisation, as of Sep 24, 2026). Per share that is 2,710 KRW; our models calculate a fair value of 2,322 KRW per share.
What do the bullish and bearish scenarios say about 036170?
Our models span a range for Cloud Air Co.Ltd: cautious scenario 1,626 KRW, base 2,322 KRW, optimistic 3,019 KRW per share (as of Sep 24, 2026, price 2,710 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Cloud Air Co.Ltd (036170)?
Balance-sheet figures for Cloud Air Co.Ltd (as of Sep 24, 2026): return on equity 381.3%, debt of 0.16 per unit of equity. They feed the Quality Score of 58/100, which measures business quality independently of the share price.
How far is 036170 from its 52-week high?
Cloud Air Co.Ltd trades at 2,710 KRW, about 69% below its 52-week high of 8,770 KRW and 231% above the low of 818.00 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 2,322 KRW is for.
Which stocks are comparable to Cloud Air Co.Ltd?
From the same area (Technology) we also value TES Co, Eugene Technology Co, TSE Co, ISC Co, 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 Cloud Air Co.Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price 2,710 KRW, calculated fair value 2,322 KRW (−14%), Quality Score 58/100, from 13 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 036170 calculated?
We run Cloud Air Co.Ltd through 13 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 2,322 KRW, 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 13.0 % above its aggregate fair value. Cloud Air Co.Ltd itself currently trades above fair value. 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 Cloud Air Co.Ltd (036170)?
The closing price on Sep 23, 2026 was 2,710 KRW. Our model-based fair value is 2,322 KRW, about −14% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Cloud Air Co.Ltd right now?
Solid but not exceptional quality (58/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (1,626 KRW to 3,019 KRW) leaves room in how you read the outcome. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Key figures of Cloud Air Co.Ltd

How large is the market capitalisation of Cloud Air Co.Ltd (036170)?
The market capitalisation of Cloud Air Co.Ltd is 163B KRW (≈ $120M). 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 Cloud Air Co.Ltd (036170)?
The price-to-sales ratio of Cloud Air Co.Ltd is 12.4 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the net margin of Cloud Air Co.Ltd (036170)?
The net margin of Cloud Air Co.Ltd is 34.4% (fiscal year 2025). 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 Cloud Air Co.Ltd (036170)?
The return on equity (ROE) of Cloud Air Co.Ltd is 381% (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 Cloud Air Co.Ltd (036170)?
On an EBIT basis the return on assets of Cloud Air Co.Ltd is 0.0% (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 Cloud Air Co.Ltd (036170)?
The operating margin of Cloud Air Co.Ltd is −10.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Cloud Air Co.Ltd (036170)?
Revenue at Cloud Air Co.Ltd is growing −15.6% versus a year earlier (3y avg +33.2%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Cloud Air Co.Ltd (036170) generate?
The free cash flow of Cloud Air Co.Ltd is −2.7B KRW (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Cloud Air Co.Ltd (036170) carry?
The net debt of Cloud Air Co.Ltd is 13.9B KRW (fiscal year 2025). 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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