Kiwoom (039490) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Kiwoom KRW 214,812, price KRW 266,000, upside -19.2%, quality 38 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
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 59,494 KRW – 495,500 KRW · fair‑value band 161,109 KRW – 268,515 KRW · the 266,000 KRW price screens above the 214,812 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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Kiwoom Securities Co., Ltd., together with its subsidiaries, provides online brokerage services in South Korea and internationally. The company offers online trading system to trade in foreign stock, local and overseas futures, and F/X margin trading, as well as equity, futures, and option deals.
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Kiwoom Securities Co., Ltd., together with its subsidiaries, provides online brokerage services in South Korea and internationally. The company offers online trading system to trade in foreign stock, local and overseas futures, and F/X margin trading, as well as equity, futures, and option deals. It also provides derivatives and futures trading services; and equity capital market services, such as initial pricing offering and recapitalization, as well as recruiting and underwriting of bonds, including convertible bonds and bonds with warrant. In addition, the company offers debt capital market services comprising underwriting corporate debt and asset-backed securities, and liquidating assets; and provides research center services, as well as operates a savings bank that provides financial services to the local residents and small-medium companies. Kiwoom Securities Co., Ltd. was founded in 2000 and is headquartered in Seoul, South Korea.
Stock analysis
Kiwoom (039490) currently trades at 266,000 KRW, while our model-based Fair Value estimate is 214,812 KRW, implying the stock looks roughly 23.8% overvalued today.
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Valuation
How firm this estimate is: it rests on 17 models at a data quality of 95/100, which puts the evidence level at medium.
Scenario range: 161,109 KRW (bear) to 268,515 KRW (bull), the price of 266,000 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 38/100 (below-average quality), in the Financial Services sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Kiwoom reported revenue of 2.6T KRW in FY2025 versus 2.0T KRW in FY2021, a compound +7.1%/yr. Reported net income was 1.1T KRW in FY2025, compounding +5.4%/yr from FY2021.
Key figures
Market cap 8.4T KRW (≈ $5.9B) · P/S ratio 0.44 · Dividend yield 4.3% · Net margin 43.0% · Return on equity 21.5% · Return on assets (EBIT) 4.6% · Operating margin 33.6% · Revenue growth (YoY) +177%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (low confidence).
What moves the price
The share trades about 46% below its 52-week high and 15% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −20% fair-value upside, at −19%, 039490 screens cheaper than that median.
Fair Value models
Bear 161,109 KRWFair Value 214,812 KRWBull 268,515 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.
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.54/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+26.1%
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.
+24.0%
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.
+10.2%
Start year 2020 (pandemic). Over 10 years: +13.2% a year
Revenue growth 25 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.
+18.9%
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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.
+9.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+5.2%
Dividend (yield on the price)4.3%
Profit margin 2013 to 2018 ⓘ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.29% → 139%
2025 sits 110% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
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.Capital Markets · 463 stocks
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). "Kiwoom Fair Value". https://www.fairvalue-calculator.com/stock/039490
Frequently asked questions
Is Kiwoom (039490) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 214,812 KRW versus a price of 266,000 KRW, about −19% upside (overvalued).
What is the fair value of 039490?
Our model-based fair value for Kiwoom is 214,812 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 266,000 KRW.
What is the quality score of 039490?
Kiwoom has a Quality Score of 38/100. 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 Kiwoom (039490)?
Our model-based price target is the fair value of 214,812 KRW (as of Sep 24, 2026) from 2 valuation models. Cautious scenario 161,109 KRW, optimistic scenario 268,515 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Kiwoom stock forecast for 2026?
Our models put fair value at 214,812 KRW, about −19% upside versus a price of 266,000 KRW (overvalued). Cautious scenario 161,109 KRW, optimistic scenario 268,515 KRW. The calculation is refreshed regularly with new filings.
Does Kiwoom pay a dividend?
Kiwoom currently shows a dividend yield of about 4.32% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Kiwoom (039490)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Kiwoom it is 214,812 KRW per share (as of Sep 24, 2026), against a price of 266,000 KRW. It is the blended result of 2 valuation models (cash flow, earnings, asset, dividend).
Is Kiwoom stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 039490 trades above its calculated fair value: price 266,000 KRW, fair value 214,812 KRW, a gap of about −19% (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 039490?
No. The price is what the market pays today (266,000 KRW); the fair value is what the company's own numbers justify (214,812 KRW). For Kiwoom the two are 51,188 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Kiwoom worth?
The market values Kiwoom at about 8.4T KRW (market capitalisation, as of Sep 24, 2026). Per share that is 266,000 KRW; our models calculate a fair value of 214,812 KRW per share.
What do the bullish and bearish scenarios say about 039490?
Our models span a range for Kiwoom: cautious scenario 161,109 KRW, base 214,812 KRW, optimistic 268,515 KRW per share (as of Sep 24, 2026, price 266,000 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Kiwoom (039490)?
Balance-sheet figures for Kiwoom (as of Sep 24, 2026): return on equity 21.5%, debt of 0.55 per unit of equity. They feed the Quality Score of 38/100, which measures business quality independently of the share price.
How far is 039490 from its 52-week high?
Kiwoom trades at 266,000 KRW, about 46% below its 52-week high of 495,500 KRW and 15% above the low of 231,235 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 214,812 KRW is for.
Which stocks are comparable to Kiwoom?
From the same area (Financial Services) we also value Morgan Stanley, a financial holding company,, The Goldman Sachs Group, The Charles Schwab Corporation, Interactive Brokers Group, 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 Kiwoom stock attractive at the current price?
The data as of Sep 24, 2026: price 266,000 KRW, calculated fair value 214,812 KRW (−19%), Quality Score 38/100, from 2 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 039490 calculated?
We run Kiwoom through 2 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 214,812 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 14.1 % above its aggregate fair value. Kiwoom 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 Kiwoom (039490)?
The closing price on Sep 23, 2026 was 266,000 KRW. Our model-based fair value is 214,812 KRW, about −19% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Kiwoom right now?
Weak quality (38/100) and above fair value at the same time, the margin of safety is missing on both counts. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Key figures of Kiwoom
How large is the market capitalisation of Kiwoom (039490)?
The market capitalisation of Kiwoom is 8.4T KRW (≈ $5.9B). 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 Kiwoom (039490)?
The price-to-sales ratio of Kiwoom is 0.44 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the dividend yield of Kiwoom (039490)?
The dividend yield of Kiwoom is 4.3%. 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 Kiwoom (039490)?
The net margin of Kiwoom is 43.0% (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 Kiwoom (039490)?
The return on equity (ROE) of Kiwoom is 21.5% (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 Kiwoom (039490)?
On an EBIT basis the return on assets of Kiwoom is 4.6% (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 Kiwoom (039490)?
The operating margin of Kiwoom is 33.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Kiwoom (039490)?
Revenue at Kiwoom is growing +177% versus a year earlier (3y avg +24.0%). 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 Kiwoom (039490)?
Earnings per share at Kiwoom are growing +123% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Kiwoom (039490) generate?
The free cash flow of Kiwoom is −6.5T KRW (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
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