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Gemvaxlink Co. Ltd (064800) fair value: what the stock is really worth

As of Sep 23, 2026: fair value of Gemvaxlink Co. Ltd KRW 6,210, price KRW 2,070, upside +200.0%, quality 48 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? No
  3. Add to watchlist

Technology · KR · ISIN KR7064800006

GC Thin data Sep 24, 2026

Gemvaxlink Co. Ltd

064800 · KQ

Cheap, value-trap riskThe stock looks deeply undervalued, but low quality raises value-trap risk.

✓Fair value 6,210 KRW · Strongly undervalued (+200%)
!Quality 48/100
!Weak Growth (revenue 5y −13.6 %/yr)
!Loss over the last twelve months · -48.0% net margin (TTM) · fiscal year 2025 35.3%
!Low debt · negative free cash flow
!Trails peers (1/8)
!Narrow moat 12/100
!Evidence only low, so the estimate is less certain
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

19,275 KRW 1,867 KRW Fair Value 6,210 KRW Apr 2021 Sep 2026

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 1,867 KRW – 19,275 KRW · fair‑value band 4,658 KRW – 7,763 KRW · the 2,070 KRW price screens below the 6,210 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 2 fiscal years are left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

PonyLink Co., Ltd. primarily engages in the provision of mobility, distribution, and information technology businesses in South Korea and internationally.

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PonyLink Co., Ltd. primarily engages in the provision of mobility, distribution, and information technology businesses in South Korea and internationally. The company is involved in the provision of autonomous mobility services; distribution of luxury goods; and operation of online and offline malls under LAPRIMA brand name, as well as offline distribution stores under the Luxury Avenue brand name. It also offers information technology solutions comprising artificial intelligence and Internet of Things systems, message transmission solutions, and web/mobile service development services. The company was formerly known as Gemvaxlink Co., Ltd. and changed its name to PonyLink Co., Ltd. in June 2024. PonyLink Co., Ltd. was founded in 2000 and is headquartered in Seoul, South Korea.

Stock analysis

Gemvaxlink Co. Ltd (064800) currently trades at 2,070 KRW, while our model-based Fair Value estimate is 6,210 KRW, implying the stock looks roughly 66.7% undervalued today.

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Valuation

Bull case: the Growth Earnings group reads highest at a median of 13,339 KRW per share, and 8 of the 8 models we run sit above the 2,070 KRW price.

Bear case: the Asset-Based group reads lowest at 5,743 KRW, and 0 of the 8 models stay below the price. Evidence for this calculation is low.

Scenario range: 4,658 KRW (bear) to 7,763 KRW (bull), the price of 2,070 KRW sits below 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 48/100 (below-average quality), in the Technology sector.

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

Gemvaxlink Co. Ltd reported revenue of 44.9B KRW in FY2025 versus 110B KRW in FY2021, a compound −20.0%/yr. Reported net income was 15.8B KRW in FY2025, compounding −17.7%/yr from FY2021.

Key figures

Market cap 52.2B KRW (≈ $38.4M) · P/S ratio 1.22 · Net margin 35.3% · Return on equity −9.1% · Return on assets (EBIT) −5.9% · Operating margin −40.6% · Revenue (TTM) 44.4B KRW · Revenue growth (YoY) −4.5%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).

What moves the price

The share trades about 57% below its 52-week high and 11% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Technology peers we cover trades at −6% fair-value upside, at 200%, 064800 screens cheaper than that median.

Fair Value models

Bear 4,658 KRW Fair Value 6,210 KRW Bull 7,763 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.
Highest evidence
Owner Earnings 8,826 KRW 11,458 KRW 15,615 KRW 77
Residual Income 6,903 KRW 7,263 KRW 7,771 KRW 76
Growth-Adj P/E 9,338 KRW 13,339 KRW 17,341 KRW 67
All 8 models by family
DCF Models
Owner Earnings 8,826 KRW 11,458 KRW 15,615 KRW 77
Earnings-Based
Graham-Dodd 4,275 KRW 8,101 KRW 10,085 KRW 66
Multiples
P/E Multiple 13,202 KRW 17,602 KRW 22,003 KRW 63
P/S Multiple 7,345 KRW 9,794 KRW 12,242 KRW 58
P/B Multiple 8,015 KRW 10,687 KRW 13,359 KRW 55
Asset-Based
NCAV (Graham) 4,286 KRW 5,743 KRW 8,572 KRW 54
Economic Profit
Residual Income 6,903 KRW 7,263 KRW 7,771 KRW 76
Growth Earnings
Growth-Adj P/E 9,338 KRW 13,339 KRW 17,341 KRW 67

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Quality Score breakdown

Overall quality 48/100

Of which business quality 48 · Market factors (momentum, volatility) 21

Profitability 37
Margins and returns on capital today
Quality Growth 51
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 61
Balance sheet, leverage, solvency risk
Investment 66
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 11
Price trend over the last 3–12 months (market factor)
52W Momentum 3
Distance to the 52-week high (market factor)
Net Issuance 100
Share count: buybacks or dilution?

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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. 14/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−26.8%
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.
−22.3%
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.
−13.6%
Start year 2020 (pandemic). Over 10 years: +10.9% a year
Revenue growth 14 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.
+0.1%
What shareholders gained per year (last 5 years), in KRW ⓘ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. 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.
+38.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+38.5%
Dividend (yield on the price)0.0%
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.39% vs 58%, slowing
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.3% → −46%
Start year 2020 (pandemic)

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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 - Application · 721 stocks

Beats the industry median on 1/7 measures
Overall it trails its industry peers.
Valuation
Quality Score 48 · Below median
Fair Value upside +200% · Top 25%
Profitability
Return on assets −5% · Below median
Net margin (TTM) −48% · Bottom 25%
Operating margin (TTM) −41% · Bottom 25%
Growth and dividend
Revenue growth −5% · Bottom 25%
Balance sheet
Debt / equity 0.07× · Above median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 25
FUTURE (revenue growth)0 · sector 38
PAST (return on equity)0 · sector 16
HEALTH (low debt)97 · sector 97
DIVIDEND (yield)0 · sector 30

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

Similar stocks

10 more Software - Application stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
SAP SE SAP €184.18 €172.46 −6%
Salesforce, Inc CRM $238.22 $342.73 +44%
Shopify Inc SHOP $145.16 $64.36 −56%
ServiceNow, Inc NOW $137.78 $151.56 +10%
Uber Technologies, Inc UBER $69.22 $103.69 +50%
Cadence Design Systems, Inc CDNS $309.09 $225.14 −27%
Snowflake Inc SNOW $334.81 $75.08 −78%
Datadog, Inc DDOG $251.49 $32.92 −87%
Adobe Inc ADBE $238.25 $454.04 +91%
Automatic Data Processing, Inc ADP $263.68 $177.51 −33%

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Gemvaxlink Co. Ltd · Fair Value
6,210 KRW +67%Fair Value
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Cite: Fair Value Calculator (2026). "Gemvaxlink Co. Ltd Fair Value". https://www.fairvalue-calculator.com/stock/064800

Frequently asked questions

Is Gemvaxlink Co. Ltd (064800) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 6,210 KRW versus a price of 2,070 KRW, about +200% upside (undervalued).
What is the fair value of 064800?
Our model-based fair value for Gemvaxlink Co. Ltd is 6,210 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 2,070 KRW.
What is the quality score of 064800?
Gemvaxlink Co. Ltd has a Quality Score of 48/100. 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 Gemvaxlink Co. Ltd (064800)?
Our model-based price target is the fair value of 6,210 KRW (as of Sep 24, 2026) from 8 valuation models. Cautious scenario 4,658 KRW, optimistic scenario 7,763 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Gemvaxlink Co. Ltd stock forecast for 2026?
Our models put fair value at 6,210 KRW, about +200% upside versus a price of 2,070 KRW (undervalued). Cautious scenario 4,658 KRW, optimistic scenario 7,763 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Gemvaxlink Co. Ltd (064800)?
Gemvaxlink Co. Ltd reported trailing-twelve-month revenue of about 44.4B KRW (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of Gemvaxlink Co. Ltd (064800)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Gemvaxlink Co. Ltd it is 6,210 KRW per share (as of Sep 24, 2026), against a price of 2,070 KRW. It is the blended result of 8 valuation models (cash flow, earnings, asset, dividend).
Is Gemvaxlink Co. Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 064800 trades below its calculated fair value: price 2,070 KRW, fair value 6,210 KRW, a gap of about +200% (undervalued). 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 064800?
No. The price is what the market pays today (2,070 KRW); the fair value is what the company's own numbers justify (6,210 KRW). For Gemvaxlink Co. Ltd the two are 4,140 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Gemvaxlink Co. Ltd worth?
The market values Gemvaxlink Co. Ltd at about 52.2B KRW (market capitalisation, as of Sep 24, 2026). Per share that is 2,070 KRW; our models calculate a fair value of 6,210 KRW per share.
What do the bullish and bearish scenarios say about 064800?
Our models span a range for Gemvaxlink Co. Ltd: cautious scenario 4,658 KRW, base 6,210 KRW, optimistic 7,763 KRW per share (as of Sep 24, 2026, price 2,070 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Gemvaxlink Co. Ltd (064800)?
Balance-sheet figures for Gemvaxlink Co. Ltd (as of Sep 24, 2026): return on equity −9.1%, debt of 0.07 per unit of equity. They feed the Quality Score of 48/100, which measures business quality independently of the share price.
How far is 064800 from its 52-week high?
Gemvaxlink Co. Ltd trades at 2,070 KRW, about 57% below its 52-week high of 4,790 KRW and 11% above the low of 1,867 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 6,210 KRW is for.
Which stocks are comparable to Gemvaxlink Co. Ltd?
From the same area (Technology) we also value SAP SE, Salesforce, Inc, Shopify Inc, ServiceNow, Inc, 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 Gemvaxlink Co. Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price 2,070 KRW, calculated fair value 6,210 KRW (+200%), Quality Score 48/100, from 8 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 064800 calculated?
We run Gemvaxlink Co. Ltd through 8 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 6,210 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 14.0 % above its aggregate fair value. Gemvaxlink Co. Ltd currently trades 200 % below its own fair value, and the market average says nothing about that. 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 Gemvaxlink Co. Ltd (064800)?
The closing price on Sep 23, 2026 was 2,070 KRW. Our model-based fair value is 6,210 KRW, about +200% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Gemvaxlink Co. Ltd right now?
The price is below even our cautious bear case (4,658 KRW). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (48/100) at a price below fair value, the discount is the argument here, not the business quality.

Key figures of Gemvaxlink Co. Ltd

How large is the market capitalisation of Gemvaxlink Co. Ltd (064800)?
The market capitalisation of Gemvaxlink Co. Ltd is 52.2B KRW (≈ $38.4M). 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 Gemvaxlink Co. Ltd (064800)?
The price-to-sales ratio of Gemvaxlink Co. Ltd is 1.22 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the net margin of Gemvaxlink Co. Ltd (064800)?
The net margin of Gemvaxlink Co. Ltd is 35.3% (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 Gemvaxlink Co. Ltd (064800)?
The return on equity (ROE) of Gemvaxlink Co. Ltd is −9.1% (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 Gemvaxlink Co. Ltd (064800)?
On an EBIT basis the return on assets of Gemvaxlink Co. Ltd is −5.9% (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 Gemvaxlink Co. Ltd (064800)?
The operating margin of Gemvaxlink Co. Ltd is −40.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Gemvaxlink Co. Ltd (064800)?
Revenue at Gemvaxlink Co. Ltd is growing −4.5% versus a year earlier (3y avg −22.3%). 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 Gemvaxlink Co. Ltd (064800)?
Earnings per share at Gemvaxlink Co. Ltd are growing −81.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Gemvaxlink Co. Ltd (064800) generate?
The free cash flow of Gemvaxlink Co. Ltd is −10.8B KRW (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Gemvaxlink Co. Ltd (064800) carry?
The net debt of Gemvaxlink Co. Ltd is 4.1B KRW (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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