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ICD Co (040910) Fair Value & Analysis

Technology · KR · Market cap 65.6B KRW

IC ICD Co 040910 · KQ
Price4,300 KRW
Fair Value4,319 KRW
Upside+0.4%
Quality67/100
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Weak Growth
Thin margins · 0.7% net margin
Low debt · generates free cash flow
Mixed vs. peers (5/9)
Narrow moat 20/100
Evidence: Medium Range 3,092 KRW – 5,545 KRW Share as image

Fair value as of: Jul 22, 2026

From 14 valuation models · updated 19 days ago

Share price +5.8% over the past month.

A solid business, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • Our model range runs from 3,092 KRW (bear) to 5,545 KRW (bull), base 4,319 KRW. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 67/100 (solid quality) with medium evidence: read the verdict with care.
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Price vs Fair Value (5 years)

16,651 KRW 3,660 KRW Fair Value 4,319 KRW Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 22, 2026.

How to read this chart

60‑month range 3,660 KRW – 16,651 KRW · fair‑value band 3,092 KRW – 5,545 KRW · the 4,300 KRW price screens below the 4,319 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 22, 2026.

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Analysis

ICD Co (040910) currently trades at 4,300 KRW, while our model-based Fair Value estimate is 4,319 KRW, implying the stock looks roughly 0.4% fairly valued today. The Quality Score stands at 67/100 (solid quality), in the Technology sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.

Over the trailing twelve months, ICD Co generated revenue of 202B KRW at a net margin of 0.7%. Revenue grew 28.6% year over year. It earns a return on equity of 1.5%. Net debt stands at 9.6B KRW. Fundamentals as of Jul 22, 2026

Our scenario range runs from 3,092 KRW (bear case) to 5,545 KRW (bull case); at 4,300 KRW, the current price sits within 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 38% below its 52-week high and 19% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -73% fair-value upside, at 0%, 040910 screens cheaper 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.

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
Highest evidence
Growth DCF 7,387 KRW 14,198 KRW 25,360 KRW 80
Rev-Margin DCF 4,878 KRW 7,836 KRW 14,069 KRW 74
ROIC Compounder 1,769 KRW 1,985 KRW 2,174 KRW 72
All 14 models by family
DCF Models
FCF DCF 7,824 KRW 12,041 KRW 25,470 KRW 38
Owner Earnings 2,132 KRW 4,252 KRW 8,702 KRW 31
5Y Revenue Exit 4,491 KRW 6,902 KRW 11,904 KRW 39
5Y EBITDA Exit 6,522 KRW 11,010 KRW 19,803 KRW 41
10Y Revenue Exit 5,417 KRW 10,106 KRW 12,704 KRW 36
10Y EBITDA Exit 7,012 KRW 14,481 KRW 27,322 KRW 37
Earnings-Based
EPV 1,769 KRW 1,985 KRW 2,174 KRW 59
Multiples
EV/EBIT 4,151 KRW 5,378 KRW 6,605 KRW 53
EV/EBITDA 5,819 KRW 7,601 KRW 9,384 KRW 54
EV/Revenue 2,951 KRW 4,015 KRW 5,078 KRW 43
Asset-Based
NCAV (Graham) 3,017 KRW 4,042 KRW 6,034 KRW 50
Growth DCF
Growth DCF 7,387 KRW 14,198 KRW 25,360 KRW 80
Rev-Margin DCF 4,878 KRW 7,836 KRW 14,069 KRW 74
Economic Profit
ROIC Compounder 1,769 KRW 1,985 KRW 2,174 KRW 72

Widest divergence: DCF Models (10,106 KRW) versus Earnings-Based (1,985 KRW). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 202B KRW
Revenue growth (YoY) +28.6%
Net margin 0.7%
Return on equity 1.5%
Free cash flow 7.1B KRW FY2025
Operating margin -22.4%
More key figures
EPS growth (YoY) +478%
Net debt 9.6B KRW FY2025

Figures from reported company fundamentals · as of Jul 22, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 67/100

Of which business quality 65 · Market factors (momentum, volatility) 36

Profitability 35
Margins and returns on capital today
Quality Growth 100
Are margins and returns improving?
Cashflow 48
Earnings quality: real cash, not paper profit
Fin. Strength 65
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 46
Calm price path (market factor)
Momentum 33
Price trend over the last 3–12 months (market factor)
52W Momentum 32
Distance to the 52-week high (market factor)
Net Issuance 76
Buybacks instead of dilution

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

ICD Co., Ltd. engages in the manufacture and sale of AMOLED, LCD, and semiconductor equipment in South Korea and internationally. The company offers DRY etcher and research-thermal evaporator. It also involves in bio and medical business by using plasma to develop devices and products for sterilization, medicine, cosmetics, etc.

Full company description

ICD Co., Ltd. engages in the manufacture and sale of AMOLED, LCD, and semiconductor equipment in South Korea and internationally. The company offers DRY etcher and research-thermal evaporator. It also involves in bio and medical business by using plasma to develop devices and products for sterilization, medicine, cosmetics, etc. The company was founded in 2000 and is headquartered in Anseong-si, South Korea.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

ICD Co reported revenue of 197B KRW in FY2025 versus 116B KRW in FY2021, a compound +14.2%/yr. Reported net income was −1.9B KRW in FY2025.

Growth Quality 30/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
197B KRW
Latest YoY
+33.5%
Avg. growth/yr (3Y) 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.
+9.3%
Avg. growth/yr (5Y) 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.
−8.6%
Avg. growth/yr (12Y) 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.
+7.7%
Revenue +14.2%/yr
FY21 116B KRW
FY22 151B KRW
FY23 62.3B KRW
FY24 148B KRW
FY25 197B KRW
Net income
FY21 762M KRW
FY22 −5.4B KRW
FY23 −41.3B KRW
FY24 −28.3B KRW
FY25 −1.9B KRW

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Cite: Fair Value Calculator (2026). "ICD Co Fair Value". https://www.fairvalue-calculator.com/stock/040910

Peer Group

Electronic Components · 625 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.

Quality Score 67 · Top 25%
Fair Value upside +0% · Top 25%
Return on equity (TTM) 2% · Below median
Return on assets 2% · Below median
Net margin (TTM) 1% · Below median
Operating margin (TTM) -22% · Bottom 25%
Revenue growth 29% · Top 25%
Debt / equity 0.01× · Lower than 75% of peers

Valuation Multiples vs Electronic Components median · lower = cheaper

P/FCF 0.0× · Cheaper than 75% of peers

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 34 · sector 0
FUTURE 100 · sector 32
PAST 6 · sector 24
HEALTH 100 · sector 95
DIVIDEND 0 · sector 25

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Electronic Components stocks, each showing price versus our Fair Value estimate (as of Jul 22, 2026).

Stock Price Fair Value vs Fair Value
Delta Electronics, Inc 2308 1,880 TWD 515.23 TWD -73%
Hon Hai Precision Industry Co 2317 242.50 TWD 270.47 TWD +12%
Luxshare Precision Industry Co 002475 ¥62.14 ¥38.44 -38%
Samsung Electro-Mechanics Co 009150 1,260,000 KRW 166,421 KRW -87%
Elite Material Co 2383 4,990 TWD 714.36 TWD -86%
Yageo Corporation 2327 699.00 TWD 216.55 TWD -69%
Shengyi Technology Co 600183 ¥132.29 ¥27.45 -79%
Shennan Circuits Co 002916 ¥364.00 ¥93.50 -74%
Victory Giant Technology (HuiZhou) Co 2476 HK$297.00 HK$103.98 -65%
Wus Printed Circuit (Kunshan) Co 002463 ¥127.80 ¥31.95 -75%

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Frequently asked questions

Is ICD Co (040910) overvalued or undervalued?
As of Jul 22, 2026, our model estimates a fair value of 4,319 KRW versus a price of 4,300 KRW, about +0% (fairly valued).
What is the fair value of 040910?
Our model-based fair value for ICD Co is 4,319 KRW (as of Jul 22, 2026), built from audited fundamentals. The current price is 4,300 KRW.
What is the quality score of 040910?
ICD Co has a Quality Score of 67/100. 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 revenue of ICD Co (040910)?
ICD Co reported trailing-twelve-month revenue of about 202B KRW (latest available figure, as of Jul 22, 2026).
What is the net profit margin of 040910?
The net profit margin of ICD Co is about 0.7%, meaning it keeps roughly 0.7% of revenue as net income. Based on the latest reported figures.

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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