Openbase, Inc (049480) Fair Value & Analysis
Technology · KR · Market cap 49.6B KRW
Fair value as of: Jul 20, 2026
From 15 valuation models · updated 21 days ago
Share price −1.1% over the past month.
A solid business, screening 32% undervalued on our models.
What matters now
- The price is below even our cautious bear case (2,327 KRW). The market is more pessimistic than our downside scenario.
- Solid quality (55/100) at a price below fair value, the discount is the argument here, not the business quality.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 20, 2026.
How to read this chart
60‑month range 1,607 KRW – 7,251 KRW · fair‑value band 2,327 KRW – 2,881 KRW · the 1,974 KRW price screens below the 2,611 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 20, 2026.
Analysis
Openbase, Inc (049480) currently trades at 1,974 KRW, while our model-based Fair Value estimate is 2,611 KRW, implying the stock looks roughly 32.3% undervalued today. The Quality Score stands at 55/100 (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, Openbase, Inc generated revenue of 192B KRW at a net margin of 3.0%. Revenue declined 12.1% year over year. Net debt stands at 300M KRW. Fundamentals as of Jul 20, 2026
Our scenario range runs from 2,327 KRW (bear case) to 2,881 KRW (bull case); at 1,974 KRW, the current price sits below 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 53% below its 52-week high and 2% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at 8% fair-value upside, at 32%, 049480 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.
All 15 models by family
Widest divergence: DCF Models (4,448 KRW) versus Earnings-Based (1,617 KRW). Highest evidence: Residual Income (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 20, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 53 · Market factors (momentum, volatility) 12
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
Openbase, Inc. provides IT infrastructure service in South Korea. The company offers network infrastructure solutions for load balancing, WAN acceleration, intelligent traffic management, and DNS/DHCP/IP management solutions.
Full company description
Openbase, Inc. provides IT infrastructure service in South Korea. The company offers network infrastructure solutions for load balancing, WAN acceleration, intelligent traffic management, and DNS/DHCP/IP management solutions. It also provides security solutions for the protection of network infrastructures, such as Radware DefensePro, a hardware platform; Web Application Firewall; FireEye, an APT security solution; and Rapid 7, a vulnerability diagnosis and mock hacking verification solution. In addition, the company also offers ADC smart solution for diagnosis of ADC disability, analysis, restoration of setting history, performance monitoring, and secure management; and TARGOS, a detection system of APT, as well as IT outsourcing services. It serves public services, finance, distribution, and manufacturing sectors. The company was founded in 1995 and is based in Seoul, South Korea.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Openbase, Inc reported revenue of 233B KRW in FY2025 versus 176B KRW in FY2021, a compound +7.3%/yr. Reported net income was 7.3B KRW in FY2025, compounding +11.9%/yr from FY2021.
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Peer Group
Software & IT Services · 32 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.
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.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Software & IT Services stocks, each showing price versus our Fair Value estimate (as of Jul 20, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| KINX, Inc 093320 | 128,700 KRW | 74,800 KRW | -42% |
| Wemade Co 112040 | 15,160 KRW | 9,700 KRW | -36% |
| AfreecaTV Co 067160 | 45,200 KRW | 176,746 KRW | +291% |
| Gabia Inc 079940 | 44,050 KRW | 24,232 KRW | -45% |
| Hancom Inc 030520 | 15,890 KRW | 31,596 KRW | +99% |
| Webzen Inc 069080 | 11,750 KRW | 12,748 KRW | +8% |
| NEOWIZ 095660 | 17,010 KRW | 46,407 KRW | +173% |
| Wemade Max Co 101730 | 3,665 KRW | 825.00 KRW | -77% |
| GalaxiaMoneytree Co 094480 | 4,600 KRW | 3,778 KRW | -18% |
| DAEA TI Co 045390 | 2,475 KRW | 4,958 KRW | +100% |
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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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