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INITECH Co. Ltd (053350) fair value: what the stock is really worth

As of Nov 6, 2026: fair value (intrinsic value) of INITECH Co. Ltd stock KRW 4,104, price KRW 6,220, that is 34.0% below the price, quality 51 out of 100. Rating: overvalued. Calculated from audited financials with 10 of our 26 valuation models and 37 quality factors, updated daily.

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Technology KR · ISIN KR7053350005

IC INITECH Co. Ltd logo Some data Nov 7, 2026

INITECH Co. Ltd

053350 · KQ
Expensive, in a downtrend

Our calculation puts a fair price 34% below what the stock costs today.

Low debt
Revenue last quarter +21% vs. a year ago.
Quality 51/100
Thin margins · 0.4% net margin (TTM)
Some data
Fair value 4,104 KRW · Overvalued
Weak Growth (revenue 5y −35.4 %/yr in KRW)
Negative free cash flow
Trails peers (3/12)
Narrow moat 40/100 · thin data
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Price vs Fair Value

11,710 KRW 2,260 KRW Fair Value 4,104 KRW Jun 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.

How to read this chart

60‑month range 2,260 KRW – 11,710 KRW · fair‑value band 3,078 KRW – 4,378 KRW · the 6,220 KRW price screens above the 4,104 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.

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Company profile

INITECH Co., Ltd., an IT financial and security company, provides information security solutions in South Korea.

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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.

Stock analysis

INITECH Co. Ltd (053350) currently trades at 6,220 KRW, while our model-based Fair Value estimate is 4,104 KRW, 34% below the price, so the stock looks overvalued today.

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Valuation

Bull case: the Asset-Based group reads highest at a median of 6,532 KRW per share, and 1 of the 10 models we run sit above the 6,220 KRW price.

Bear case: the Earnings-Based group reads lowest at 1,218 KRW, and 9 of the 10 models stay below the price. Data coverage for this calculation is medium.

Scenario range: 3,078 KRW (bear) to 4,378 KRW (bull), the price of 6,220 KRW sits above 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 51/100 (solid quality), in the Technology sector.

Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.

INITECH Co. Ltd 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.

Key figures

Market cap 126B KRW (≈ $93.1M) Micro · P/S ratio 0.38 · Dividend yield 0.3% · Net margin 0.4% · Return on equity 217% · Return on assets (EBIT) −1.3% (5-year average) · Operating margin −0.4% · Revenue growth (YoY) +20.5%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 40 out of 100 (low confidence).

What moves the price

The share trades about 32% below its 52-week high and 175% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Technology peers we cover trades at −2% fair-value upside, at −34%, 053350 screens richer than that median.

Fair Value models

Bear 3,078 KRW Fair Value 4,104 KRW Bull 4,378 KRW
Price 6,220 KRW · Downside -34.0%
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. 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.
Best data coverage
Owner Earnings 3,400 KRW 3,469 KRW 3,576 KRW 78
Residual Income 3,909 KRW 4,106 KRW 4,378 KRW 76
Gordon GGM 113.55 KRW 120.39 KRW 130.41 KRW 69
All 10 models by family
DCF Models
Owner Earnings 3,400 KRW 3,469 KRW 3,576 KRW 78
Earnings-Based
Graham-Dodd 996.61 KRW 1,218 KRW 1,370 KRW 67
Dividend Discount
Gordon GGM 113.55 KRW 120.39 KRW 130.41 KRW 69
DDM Multi-Stage 113.55 KRW 128.18 KRW 146.08 KRW 67
Multiples
P/E Multiple 3,078 KRW 4,104 KRW 5,130 KRW 63
P/S Multiple 1,869 KRW 2,492 KRW 3,114 KRW 58
P/B Multiple 4,307 KRW 5,743 KRW 7,179 KRW 55
Asset-Based
NCAV (Graham) 4,311 KRW 6,532 KRW 8,165 KRW 54
Economic Profit
Residual Income 3,909 KRW 4,106 KRW 4,378 KRW 76
Growth Earnings
Growth-Adj P/E 2,153 KRW 3,075 KRW 3,998 KRW 67

Open the full fair value analysis →

Quality Score breakdown

Overall quality 51/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 21
How much profit the company makes from its sales and capital
Quality Growth 21
Are margins and returns getting better?
Cashflow 1
Do the profits arrive as real cash?
Financial strength 99
Debt, balance sheet and risk of trouble
Investment 80
Does it invest with discipline instead of growing at any price?
Low Volatility 18
How calm the share price moves, does not count
Price momentum 67
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 29
Distance to the 52-week high, does not count
New shares 90
Buys back shares or issues new ones?

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Revenue & earnings trend

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. 11/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−15.6%
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.
−15.2%
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.
−35.4%
Start year 2020 (pandemic). Over 10 years: −16.9% a year
Revenue growth 18 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.
+1.7%
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.
≈ +17.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year≈ +16.7%
Dividend (yield on the price)0.3%
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: 5.3% / −10.7%
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.1% → −7%
2025 sits 125% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
⚠ Revenue per share shrinking 21.5%/yr over ~7Y (margins eroding too) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
⚠ Base effect: the rate starts in the earnings trough around 2020 (starting value 131 per share, median 523 in 2016 to 2018). It measures the recovery from the trough, not lasting growth.

053350 screens overvalued: fair value 34% below the price. Compare with Gabia Inc →

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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.Software & IT Services · 33 stocks

Beats the industry median on 3/12 measures
Overall it trails its industry peers.
Valuation
Quality Score 51 · Below median
Fair Value upside −34.0% · Below median
Profitability
Return on equity (12 months) 217.1% · Above median
Return on assets 1.9% · Below median
Net margin (12 months) 0.4% · Bottom 25%
Operating margin (12 months) −0.4% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) 20.5% · Top 25%
Dividend yield (12 months) 0.3% · Bottom 25%
Balance sheet
Debt / equity 0.06× · Above median

Valuation Multiplesvs Software & IT Services median · lower = cheaper

P/B 0.91× · Pricier than median
P/S (12 months) 0.43× · Cheapest 25%
EV/EBITDA 26.2× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 30
FUTURE (revenue growth)100 · sector 37
PAST (return on equity)100 · sector 100
HEALTH (low debt)97 · sector 99
DIVIDEND (yield)6 · sector 26

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

Context: sector, industry, market

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

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INITECH Co. Ltd: fair value per Fair Value Calculator

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

Frequently asked questions

Is INITECH Co. Ltd (053350) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of 4,104 KRW versus a price of 6,220 KRW, about 34% lower (overvalued).
What is the fair value of 053350?
Our model-based fair value for INITECH Co. Ltd is 4,104 KRW (as of Nov 7, 2026), built from audited fundamentals. The current price: 6,220 KRW.
What is the quality score of 053350?
INITECH Co. Ltd has a Quality Score of 51/100. 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 INITECH Co. Ltd (053350)?
Our model-based price target is the fair value of 4,104 KRW (as of Nov 7, 2026) from 10 valuation models. Cautious scenario 3,078 KRW, optimistic scenario 4,378 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the INITECH Co. Ltd stock forecast for 2026?
Our models put fair value at 4,104 KRW, about 34% lower versus a price of 6,220 KRW (overvalued). Cautious scenario 3,078 KRW, optimistic scenario 4,378 KRW. The calculation is refreshed regularly with new filings.
Does INITECH Co. Ltd pay a dividend?
INITECH Co. Ltd currently shows a dividend yield of 0.31% relative to its recent price (as of Nov 7, 2026).
How much is the dividend of INITECH Co. Ltd (053350)?
INITECH Co. Ltd has a dividend yield of 0.3%.
What is the intrinsic value of INITECH Co. Ltd (053350)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For INITECH Co. Ltd it is 4,104 KRW per share (as of Nov 7, 2026), against a price of 6,220 KRW. It is the blended result of 10 valuation models in 7 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is INITECH Co. Ltd stock overvalued or undervalued in 2026?
As of Nov 7, 2026, 053350 trades above its calculated fair value: price 6,220 KRW, fair value 4,104 KRW, a gap of about −34% (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 053350?
No. The price is what the market pays today (6,220 KRW); the fair value is what the company's own numbers justify (4,104 KRW). For INITECH Co. Ltd the two are 2,116 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is INITECH Co. Ltd worth?
The market values INITECH Co. Ltd at about 126B KRW (market capitalisation, as of Nov 7, 2026). Per share that is 6,220 KRW; our models calculate a fair value of 4,104 KRW per share.
What do the bullish and bearish scenarios say about 053350?
Our models span a range for INITECH Co. Ltd: cautious scenario 3,078 KRW, base 4,104 KRW, optimistic 4,378 KRW per share (as of Nov 7, 2026, price 6,220 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of INITECH Co. Ltd (053350)?
Balance-sheet figures for INITECH Co. Ltd (as of Nov 7, 2026): return on equity 217.1%, debt of 0.06 per unit of equity. They feed the Quality Score of 51/100, which measures business quality independently of the share price.
How far is 053350 from its 52-week high?
INITECH Co. Ltd trades at 6,220 KRW, about 32% below its 52-week high of 9,150 KRW and 175% above the low of 2,260 KRW (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 4,104 KRW is for.
Which stocks are comparable to INITECH Co. Ltd?
From the same area (Technology) we also value Gabia Inc, KINX, Inc, Wemade Co, AfreecaTV Co, 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 INITECH Co. Ltd stock attractive at the current price?
The data as of Nov 7, 2026: price 6,220 KRW, calculated fair value 4,104 KRW (−34%), Quality Score 51/100, from 10 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 053350 calculated?
We run INITECH Co. Ltd through 10 models from 7 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 4,104 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. INITECH 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 INITECH Co. Ltd (053350)?
The closing price on Nov 6, 2026 was 6,220 KRW. Our model-based fair value is 4,104 KRW, about 34% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with INITECH Co. Ltd right now?
The price sits above even our optimistic bull case (4,378 KRW). The favourable scenario is already priced in. Solid but not exceptional quality (51/100) and above fair value, neither a clear bargain nor a standout compounder.

Key figures of INITECH Co. Ltd

How large is the market capitalisation of INITECH Co. Ltd (053350)?
The market capitalisation of INITECH Co. Ltd is 126B KRW (≈ $93.1M). 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 INITECH Co. Ltd (053350)?
The price-to-sales ratio of INITECH Co. Ltd is 0.38 (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 INITECH Co. Ltd (053350)?
The dividend yield of INITECH Co. Ltd is 0.3%. 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 INITECH Co. Ltd (053350)?
The net margin of INITECH Co. Ltd is 0.4% (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 INITECH Co. Ltd (053350)?
The return on equity (ROE) of INITECH Co. Ltd is 217% (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 INITECH Co. Ltd (053350)?
On an EBIT basis the return on assets of INITECH Co. Ltd is −1.3% (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 INITECH Co. Ltd (053350)?
The operating margin of INITECH Co. Ltd is −0.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at INITECH Co. Ltd (053350)?
Revenue at INITECH Co. Ltd is growing +20.5% versus a year earlier (3y avg −15.2%). 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 INITECH Co. Ltd (053350)?
Earnings per share at INITECH Co. Ltd are growing −93.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does INITECH Co. Ltd (053350) generate?
The free cash flow of INITECH Co. Ltd is −2.1B 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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