Elcomtec Co. Ltd (037950) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Elcomtec Co. Ltd stock KRW 2,676, price KRW 2,915, that is 8.2% below the price, quality 55 out of 100. Rating: fairly valued. Calculated from audited financials with 20 of our 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 4, 2026.
How to read this chart
60‑month range 2,505 KRW – 11,250 KRW · fair‑value band 1,994 KRW – 3,429 KRW · the 2,915 KRW price screens above the 2,676 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 4, 2026.
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Elcomtec Co., Ltd engages in the LED lamps, mobile lens, and electronic manufacturing service businesses in South Korea.
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It offers 25W engine modules for use as street, security, tunnel, and flood light; floor-type pedestrian traffic lights; NELF-100 lights; MLR-Y and MLR-W for road signs; and mobile lens, including TOF, VGA, 48 MEGA, 13 MEGA, 8 Mega, and 5 MEGA lens.
The company also provides factory, indoor, and plant growth lights; Bluetooth headset/wearable; fingerprint recognition sensor module; car black box; and navigation systems. In addition, it manufactures electronic parts and engages in resource development.
The company was formerly known as Hansung Elcomtech Co., Ltd. and changed its name to Elcomtec Co., Ltd in November 2013. Elcomtec Co., Ltd was founded in 1983 and is headquartered in Pyeongtaek-si, South Korea. Elcomtec Co., Ltd is a subsidiary of Partron Co., Ltd.
Stock analysis
Elcomtec Co. Ltd (037950) currently trades at 2,915 KRW, while our model-based Fair Value estimate is 2,676 KRW, so the stock looks roughly fairly valued today (gap 8.9%).
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Valuation
Bull case: the Multiples group reads highest at a median of 3,706 KRW per share, and 9 of the 20 models we run sit above the 2,915 KRW price.
Bear case: the Growth DCF group reads lowest at 1,073 KRW, and 11 of the 20 models stay below the price. Data coverage for this calculation is medium.
Scenario range: 1,994 KRW (bear) to 3,429 KRW (bull), the price of 2,915 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 55/100 (solid quality), in the Technology sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Elcomtec Co. Ltd reported revenue of 46.3B KRW in FY2025 versus 45.2B KRW in FY2021, a compound +0.6%/yr. Reported net income was 2.5B KRW in FY2025, compounding −11.8%/yr from FY2021.
Key figures
Market cap 49.2B KRW (≈ $36.4M) Micro · P/E ratio 10.4 · P/S ratio 0.78 · EPS (TTM) 308.78 KRW · Net margin 8.3% · Return on equity 6.3% · Return on assets (EBIT) 4.3% (5-year average) · Operating margin 8.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (medium confidence).
What moves the price
The share trades about 35% below its 52-week high and 16% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −45% fair-value upside, at −8%, 037950 screens cheaper than that median.
Fair Value models
Bear1,994 KRWFair Value 2,676 KRWBull3,429 KRW
Price 2,915 KRW · Downside -8.2%
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 (264.79 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.43/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−19.3%
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.
+3.6%
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.
+5.0%
Start year 2020 (pandemic). Over 10 years: −2.9% a year
Revenue growth 24 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.
+0.7%
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What shareholders gained per year (last 5 years), in KRW (mathematically smoothed) ⓘ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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. 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.
≈ +23.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year≈ +23.9%
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.base effect: 36.5% / 6.3%
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% → 5%
2025 sits 148% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
⚠ Base effect: the rate starts in the earnings trough around 2020 (starting value 30.9 per share, median 69.9 in 2016 to 2018). It measures the recovery from the trough, not lasting growth.
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
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).
+56.2%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
Calculated on free cash flow for fiscal year 2025. Over the last twelve months it was negative, so the figure above is uncertain.
After inflation (South Korea: IMF forecast 2.1% a year to 2030, 2.1% from 2016 to 2025) that is about +53.1% a year for the price.
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.Communication Equipment · 303 stocks
Beats the industry median on 11/12 measures
Overall it ranks above its industry peers.
Valuation
Quality Score55 · Above median
Fair Value upside−8.2% · Above median
Profitability
Return on equity (12 months)6.3% · Above median
Return on assets2.8% · Above median
Net margin (12 months)8.3% · Above median
Operating margin (12 months)8.7% · Above median
Growth and dividend
Revenue growth (quarter YoY)72.0% · Top 25%
Valuation Multiplesvs Communication Equipment 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.
Is Elcomtec Co. Ltd (037950) overvalued or undervalued?
As of Nov 4, 2026, our model estimates a fair value of 2,676 KRW versus a price of 2,915 KRW, about 8% lower (fairly valued).
What is the fair value of 037950?
Our model-based fair value for Elcomtec Co. Ltd is 2,676 KRW (as of Nov 4, 2026), built from audited fundamentals. The current price: 2,915 KRW.
What is the quality score of 037950?
Elcomtec Co. Ltd has a Quality Score of 55/100. 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 Elcomtec Co. Ltd (037950)?
Our model-based price target is the fair value of 2,676 KRW (as of Nov 4, 2026) from 20 valuation models. Cautious scenario 1,994 KRW, optimistic scenario 3,429 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Elcomtec Co. Ltd stock forecast for 2026?
Our models put fair value at 2,676 KRW, about 8% lower versus a price of 2,915 KRW (fairly valued). Cautious scenario 1,994 KRW, optimistic scenario 3,429 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Elcomtec Co. Ltd (037950)?
Elcomtec Co. Ltd reported trailing-twelve-month revenue of about 63.1B KRW (latest available figure, as of Nov 4, 2026).
What growth is priced into Elcomtec Co. Ltd (037950)?
For today's price to be fair in a discounted-cash-flow model, Elcomtec Co. Ltd would have to grow free cash flow by +56.2 % per year for five years (discount rate 8.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +5.1 % per year. Calculated on free cash flow for fiscal year 2025. Over the last twelve months it was negative, so the figure above is uncertain. As of Nov 4, 2026.
What discount rate (WACC) does the fair value of 037950 use?
Our models discount Elcomtec Co. Ltd at 8.9 %: a base by market capitalisation (nano), damped by beta 0.29, 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 Elcomtec Co. Ltd that is +56.2 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (8.9 %) and the same formula as our fair value.
How much growth has Elcomtec Co. Ltd (037950) delivered so far?
Over the past 5 years revenue at Elcomtec Co. Ltd grew +5.1 % a year. The price currently implies free-cash-flow growth of +56.2 % 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 Elcomtec Co. Ltd (037950) growing?
The median revenue growth in the sector is +11.5 % a year. That is the yardstick for the growth priced into Elcomtec Co. Ltd (+56.2 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Elcomtec Co. Ltd (037950)?
The free-cash-flow yield on the price is 0.36 % in the last fiscal year (free cash flow was negative over the last twelve months): that much free cash flow Elcomtec Co. Ltd produces per unit of market value. When it exceeds the discount rate of our models (8.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Elcomtec Co. Ltd (037950)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Elcomtec Co. Ltd it is 2,676 KRW per share (as of Nov 4, 2026), against a price of 2,915 KRW. It is the blended result of 20 valuation models in 7 families (DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Elcomtec Co. Ltd stock overvalued or undervalued in 2026?
As of Nov 4, 2026, 037950 trades above its calculated fair value: price 2,915 KRW, fair value 2,676 KRW, a gap of about −8% (fairly valued). 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 037950?
No. The price is what the market pays today (2,915 KRW); the fair value is what the company's own numbers justify (2,676 KRW). For Elcomtec Co. Ltd the two are 238.90 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Elcomtec Co. Ltd worth?
The market values Elcomtec Co. Ltd at about 49.2B KRW (market capitalisation, as of Nov 4, 2026). Per share that is 2,915 KRW; our models calculate a fair value of 2,676 KRW per share.
What do the bullish and bearish scenarios say about 037950?
Our models span a range for Elcomtec Co. Ltd: cautious scenario 1,994 KRW, base 2,676 KRW, optimistic 3,429 KRW per share (as of Nov 4, 2026, price 2,915 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 037950?
Elcomtec Co. Ltd trades at a price-to-earnings ratio of 10.4 (as of Nov 4, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 2,676 KRW is built from several models across several years. Other multiples: P/B 0.6, P/S 0.8, EV/EBITDA 5.3.
How solid is the balance sheet of Elcomtec Co. Ltd (037950)?
Balance-sheet figures for Elcomtec Co. Ltd (as of Nov 4, 2026): return on equity 6.3%. They feed the Quality Score of 55/100, which measures business quality independently of the share price.
How far is 037950 from its 52-week high?
Elcomtec Co. Ltd trades at 2,915 KRW, about 35% below its 52-week high of 4,505 KRW and 16% above the low of 2,505 KRW (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 2,676 KRW is for.
Which stocks are comparable to Elcomtec Co. Ltd?
From the same area (Technology) we also value Cisco Systems, Inc, Foxconn Industrial Internet Co, Zhongji Innolight Co, Motorola Solutions, 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 Elcomtec Co. Ltd stock attractive at the current price?
The data as of Nov 4, 2026: price 2,915 KRW, calculated fair value 2,676 KRW (−8%), Quality Score 55/100, from 20 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 037950 calculated?
We run Elcomtec Co. Ltd through 20 models from 7 families: DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 2,676 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. Elcomtec 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 Elcomtec Co. Ltd (037950)?
The closing price on Nov 6, 2026 was 2,915 KRW. Our model-based fair value is 2,676 KRW, about 8% lower (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Elcomtec Co. Ltd right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. The price sits in the upper half of our model range, so the margin of safety is thin. Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.
Key figures of Elcomtec Co. Ltd
How large is the market capitalisation of Elcomtec Co. Ltd (037950)?
The market capitalisation of Elcomtec Co. Ltd is 49.2B KRW (≈ $36.4M). 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 Elcomtec Co. Ltd (037950)?
The price-to-sales ratio of Elcomtec Co. Ltd is 0.78 (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 Elcomtec Co. Ltd (037950)?
Earnings per share at Elcomtec Co. Ltd are 308.78 KRW (price ÷ EPS = P/E 10.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Elcomtec Co. Ltd (037950)?
The net margin of Elcomtec Co. Ltd is 8.3% (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 Elcomtec Co. Ltd (037950)?
The return on equity (ROE) of Elcomtec Co. Ltd is 6.3% (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 Elcomtec Co. Ltd (037950)?
On an EBIT basis the return on assets of Elcomtec Co. Ltd is 4.3% (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 Elcomtec Co. Ltd (037950)?
The operating margin of Elcomtec Co. Ltd is 8.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Elcomtec Co. Ltd (037950)?
Revenue at Elcomtec Co. Ltd is growing +72.0% versus a year earlier (3y avg +3.6%). 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 Elcomtec Co. Ltd (037950)?
Earnings per share at Elcomtec Co. Ltd are growing +13.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Elcomtec Co. Ltd (037950) carry?
The net debt of Elcomtec Co. Ltd is 156M KRW (fiscal year 2020, ≈ 0.9 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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Nov 4, 2026