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INITECH Co (053350) Fair Value & Analysis

Technology · KR · Market cap 75.5B KRW

IC INITECH Co 053350 · KQ
Price3,900 KRW
Fair Value2,492 KRW
Upside-36.1%
Quality49/100
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Weak Growth
Thin margins · 0.4% net margin
Low debt · negative free cash flow
Trails peers (2/8)
Narrow moat 38/100
Evidence: Medium Range 1,869 KRW – 3,114 KRW Share as image

Fair value as of: Jul 20, 2026

From 10 valuation models · updated 21 days ago

Share price +16.4% over the past month.

Below-average quality, and screening another 36% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (3,114 KRW). The favourable scenario is already priced in.
  • Solid but not exceptional quality (49/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

11,710 KRW 2,260 KRW Fair Value 2,492 KRW Mar 2021 Aug 2026

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 2,260 KRW – 11,710 KRW · fair‑value band 1,869 KRW – 3,114 KRW · the 3,900 KRW price screens above the 2,492 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.

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Analysis

INITECH Co (053350) currently trades at 3,900 KRW, while our model-based Fair Value estimate is 2,492 KRW, implying the stock looks roughly 36.1% overvalued today. The Quality Score stands at 49/100 (below-average quality), in the Technology sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).

Over the trailing twelve months, INITECH Co generated revenue of 295B KRW at a net margin of 0.4%. Revenue grew 20.5% year over year. It earns a return on equity of 217.1%. Fundamentals as of Jul 20, 2026

Our scenario range runs from 1,869 KRW (bear case) to 3,114 KRW (bull case); at 3,900 KRW, the current price sits above 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 69% below its 52-week high and 72% 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 -36%, 053350 screens richer 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
Residual Income 5,015 KRW 4,729 KRW 3,717 KRW 76
Gordon GGM 167.73 KRW 183.59 KRW 207.76 KRW 70
Growth-Adj P/E 1,555 KRW 2,222 KRW 2,888 KRW 68
All 10 models by family
DCF Models
Owner Earnings 4,398 KRW 4,911 KRW 5,862 KRW 31
Earnings-Based
Graham-Dodd 996.61 KRW 1,218 KRW 1,370 KRW 54
Dividend Discount
Gordon GGM 167.73 KRW 183.59 KRW 207.76 KRW 70
DDM Multi-Stage 167.73 KRW 210.45 KRW 270.32 KRW 61
Multiples
P/E Multiple 2,198 KRW 2,931 KRW 3,664 KRW 63
P/S Multiple 1,869 KRW 2,492 KRW 3,114 KRW 58
P/B Multiple 1,869 KRW 2,492 KRW 3,114 KRW 55
Asset-Based
NCAV (Graham) 3,571 KRW 4,786 KRW 7,143 KRW 50
Economic Profit
Residual Income 5,015 KRW 4,729 KRW 3,717 KRW 76
Growth Earnings
Growth-Adj P/E 1,555 KRW 2,222 KRW 2,888 KRW 68

Widest divergence: DCF Models (4,911 KRW) versus Dividend Discount (183.59 KRW). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 295B KRW
Revenue growth (YoY) +20.5%
Net margin 0.4%
Return on equity 217%
Free cash flow −2.1B KRW FY2025
Operating margin -0.4%
More key figures
EPS growth (YoY) -93.7%

Figures from reported company fundamentals · as of Jul 20, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 49/100

Of which business quality 48 · Market factors (momentum, volatility) 24

Profitability 21
Margins and returns on capital today
Quality Growth 12
Are margins and returns improving?
Cashflow 1
Earnings quality: real cash, not paper profit
Fin. Strength 99
Balance sheet, leverage, solvency risk
Investment 80
Disciplined investing over empire-building
Low Volatility 18
Calm price path (market factor)
Momentum 36
Price trend over the last 3–12 months (market factor)
52W Momentum 11
Distance to the 52-week high (market factor)
Net Issuance 90
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

INITECH Co., Ltd., an IT financial and security company, provides information security solutions in South Korea. The company develops e-banking systems, such as service planning and consulting, development, control and monitoring, and maintenance; offers e-banking solutions, including internet and smart banking; operates data centers that provide various …

Full company description

INITECH Co., Ltd., an IT financial and security company, provides information security solutions in South Korea. The company develops e-banking systems, such as service planning and consulting, development, control and monitoring, and maintenance; offers e-banking solutions, including internet and smart banking; operates data centers that provide various supplementary services for enterprises; and IT professional services, such as security system management/consulting, development and SI, SM, business management, and education and training programs. It also provides IB20 framework that allows customers to manage issues for multi device support, as well as controls the management factors that occurs during the formation of presentations; and UBiz30 business framework that offers productivity enhancement and test environments to adopt the changes in business environment and expand channels. In addition, the company offers security solution, such as PKI, an authentication and digital signature; biometric solution that offers self-authentication based on biometric information comprising fingerprint, iris, facial, voice, etc.; ISoT solution, an information system that connects and shares information; and IAM, a database encryption solution for integrated access control management. Further, it provides system and DB security solutions; end point security solutions; and hardware security module, a solution for the protection of encryption lifecycle. The company was founded in 1997 and is based in Seoul, South Korea. INITECH Co., Ltd. is a subsidiary of H&C Network Co. Ltd.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

INITECH Co reported revenue of 32.8B KRW in FY2025 versus 50.3B KRW in FY2021, a compound −10.1%/yr. Reported net income was 2.8B KRW in FY2025, compounding −5.7%/yr from FY2021.

Growth Quality 11/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
32.8B KRW
Latest YoY
−15.6%
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.
−15.2%
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.
−35.4%
Avg. growth/yr (18Y) 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.
+1.7%
Revenue −10.1%/yr
FY21 50.3B KRW
FY22 53.8B KRW
FY23 45.7B KRW
FY24 38.9B KRW
FY25 32.8B KRW
Net income −5.7%/yr
FY21 3.6B KRW
FY22 201M KRW
FY23 −302M KRW
FY24 2.3B KRW
FY25 2.8B KRW

053350 screens 36% overvalued. Compare with KINX, Inc →

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Cite: Fair Value Calculator (2026). "INITECH Co Fair Value". https://www.fairvalue-calculator.com/stock/053350

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.

Quality Score 49 · Below median
Fair Value upside −36% · Below median
Return on equity (TTM) 217% · Above median
Return on assets -0% · Bottom 25%
Net margin (TTM) 0% · Bottom 25%
Operating margin (TTM) -0% · Below median
Revenue growth 21% · Top 25%
Debt / equity 0.06× · Higher than 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.

VALUE 0 · sector 0
FUTURE 100 · sector 28
PAST 100 · sector 74
HEALTH 97 · sector 99
DIVIDEND 0 · sector 26

VALUE 0: the price sits above our fair-value range.

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 Software & IT Services stocks, each showing price versus our Fair Value estimate (as of Jul 20, 2026).

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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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Frequently asked questions

Is INITECH Co (053350) overvalued or undervalued?
As of Jul 20, 2026, our model estimates a fair value of 2,492 KRW versus a price of 3,900 KRW, about −36% (overvalued).
What is the fair value of 053350?
Our model-based fair value for INITECH Co is 2,492 KRW (as of Jul 20, 2026), built from audited fundamentals. The current price is 3,900 KRW.
What is the quality score of 053350?
INITECH Co has a Quality Score of 49/100. 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 INITECH Co (053350)?
INITECH Co reported trailing-twelve-month revenue of about 295B KRW (latest available figure, as of Jul 20, 2026).
What is the net profit margin of 053350?
The net profit margin of INITECH Co is about 0.4%, meaning it keeps roughly 0.4% 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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