Telcoware (078000) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of Telcoware stock KRW 16,552, price KRW 13,060, upside +26.7%, quality 77 out of 100. Rating: undervalued. Calculated from audited financials with 24 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 9, 2026.
How to read this chart
60‑month range 6,607 KRW – 23,000 KRW · fair‑value band 15,921 KRW – 20,545 KRW · the 13,060 KRW price screens below the 16,552 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 9, 2026.
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Telcoware Co.,Ltd. operates in the application software development and supply industry in South Korea.
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The company offers IMS solutions, such as call session control, home, interconnection border control, media gateway control, and media resource function, as well as a session border controller, C4- soft switch, RCS IM system, and subscriber and telephony application server.
It also provides 5G/LTE Core products, including unified data management and repository, network repository function, security edge protection proxy, user plane function, home location registers and subscriber server, gateway location register, 5G equipment identity register, number portability database, and Telcobase, a main memory database management system; and cloud solutions, including NFV management and orchestration, Kubernetes container platform management solution, and cloud-native CSCF system.
In addition, the company offers security products comprising AlleyeZ VMS, AlleyeZ VSaaS, and intelligent video analysis; and MLOps, failure prediction and traffic big data system, and digital brand solution. Telcoware Co.,Ltd. was founded in 2000 and is based in Seoul, South Korea.
Stock analysis
Telcoware (078000) currently trades at 13,060 KRW, while our model-based Fair Value estimate is 16,552 KRW, implying the stock looks roughly 21% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 25,070 KRW per share, and 17 of the 24 models we run sit above the 13,060 KRW price.
Bear case: the Dividend Discount group reads lowest at 5,329 KRW, and 7 of the 24 models stay below the price. Data coverage for this calculation is high.
Scenario range: 15,921 KRW (bear) to 20,545 KRW (bull), the price of 13,060 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 77/100 (high quality), in the Communication Services sector.
Mixed Growth: Spin-off in 2025: revenue and profit before it include the divested business. Growth is measured afresh from 2025.
Telcoware reported revenue of 38.4B KRW in FY2025 versus 34.8B KRW in FY2021, a compound +2.4%/yr. Reported net income was 6.2B KRW in FY2025, compounding +35.9%/yr from FY2021.
Key figures
Market cap 67.4B KRW (≈ $49.9M) Micro · P/E ratio 4.3 · P/S ratio 1.56 · EPS (TTM) 3,090 KRW · Dividend yield 4.9% · Net margin 37.1% · Return on equity 14.4% · Return on assets (EBIT) 2.1% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 73 out of 100 (low confidence).
What moves the price
The share trades about 43% below its 52-week high and 8% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Communication Services peers we cover trades at 51% fair-value upside, at 27%, 078000 screens richer than that median.
Fair Value models
Bear15,921 KRWFair Value 16,552 KRWBull20,545 KRW
Price 13,060 KRW · Upside +26.7%
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. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (2,101 KRW per share) are deliberately not added.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.
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.55/100
Spin-off in 2025: revenue and profit before it include the divested business. Growth is measured afresh from 2025.
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.
+8.8%
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.
+1.4%
Revenue growth 13 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.
−1.5%
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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.
≈ +34.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year≈ +29.2%
Dividend (yield on the price)4.9%
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: 29.2% / 4.1%
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.2% → 9%
⚠ Base effect: the rate starts in the earnings trough around 2020 (starting value 332 per share, median 942 in 2016 to 2018). It measures the recovery from the trough, not lasting growth.
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−16.0%
The company could shrink this much every year for the next five years and today's price would still be justified.
What forecasts expect
n/a
No analyst forecast available.
After inflation (South Korea: IMF forecast 2.1% a year to 2030, 2.1% from 2016 to 2025) that is about −17.7% a year for the price.
Price, fair value, quality and upside side by side.
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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.Telecom Services · 234 stocks
Beats the industry median on 12/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score77 · Top 25%
Fair Value upside+27.5% · Above median
Profitability
Return on equity (12 months)14.4% · Above median
Return on assets4.3% · Above median
Net margin (12 months)37.1% · Top 25%
Operating margin (12 months)30.5% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)68.5% · Top 25%
Dividend yield (12 months)4.9% · Above median
Valuation Multiplesvs Telecom Services median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Telcoware Fair Value". https://www.fairvalue-calculator.com/stock/078000
Frequently asked questions
Is Telcoware (078000) overvalued or undervalued?
As of Nov 9, 2026, our model estimates a fair value of 16,552 KRW versus a price of 13,060 KRW, about +27% upside (undervalued).
What is the fair value of 078000?
Our model-based fair value for Telcoware is 16,552 KRW (as of Nov 9, 2026), built from audited fundamentals. The current price: 13,060 KRW.
What is the quality score of 078000?
Telcoware has a Quality Score of 77/100. 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 Telcoware (078000)?
Our model-based price target is the fair value of 16,552 KRW (as of Nov 9, 2026) from 24 valuation models. Cautious scenario 15,921 KRW, optimistic scenario 20,545 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Telcoware stock forecast for 2026?
Our models put fair value at 16,552 KRW, about +27% upside versus a price of 13,060 KRW (undervalued). Cautious scenario 15,921 KRW, optimistic scenario 20,545 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Telcoware (078000)?
Telcoware reported trailing-twelve-month revenue of about 43.0B KRW (latest available figure, as of Nov 9, 2026).
Does Telcoware pay a dividend?
Telcoware currently shows a dividend yield of 4.90% relative to its recent price (as of Nov 9, 2026).
How much is the dividend of Telcoware (078000) and when is the ex-dividend date?
Telcoware pays a dividend of 640.00 KRW per share a year, a dividend yield of 4.9%. The last ex-dividend date was Dec 29, 2025. A dividend has been paid every year since at least 2004. The payout ratio is 20.7% of earnings. Free cash flow covers the dividend 4.72 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
What growth is priced into Telcoware (078000)?
For today's price to be fair in a discounted-cash-flow model, Telcoware would have to grow free cash flow by -16.0 % per year for five years (discount rate 11.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +1.1 % per year. As of Nov 9, 2026.
What discount rate (WACC) does the fair value of 078000 use?
Our models discount Telcoware at 11.6 %: a base by market capitalisation (micro), damped by beta 0.32, country premium for South Korea. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Telcoware that is -16.0 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (11.6 %) and the same formula as our fair value.
How much growth has Telcoware (078000) delivered so far?
Over the past 5 years revenue at Telcoware grew +1.1 % a year. The price currently implies free-cash-flow growth of -16.0 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Telcoware (078000) growing?
The median revenue growth in the sector is +11.5 % a year. That is the yardstick for the growth priced into Telcoware (-16.0 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Telcoware (078000)?
The free-cash-flow yield on the price is 23.14 %: that much free cash flow Telcoware produces per unit of market value. When it exceeds the discount rate of our models (11.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Telcoware (078000)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Telcoware it is 16,552 KRW per share (as of Nov 9, 2026), against a price of 13,060 KRW. It is the blended result of 24 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Telcoware stock overvalued or undervalued in 2026?
As of Nov 9, 2026, 078000 trades below its calculated fair value: price 13,060 KRW, fair value 16,552 KRW, a gap of about +27% (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 078000?
No. The price is what the market pays today (13,060 KRW); the fair value is what the company's own numbers justify (16,552 KRW). For Telcoware the two are 3,492 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Telcoware worth?
The market values Telcoware at about 67.4B KRW (market capitalisation, as of Nov 9, 2026). Per share that is 13,060 KRW; our models calculate a fair value of 16,552 KRW per share.
What do the bullish and bearish scenarios say about 078000?
Our models span a range for Telcoware: cautious scenario 15,921 KRW, base 16,552 KRW, optimistic 20,545 KRW per share (as of Nov 9, 2026, price 13,060 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 078000?
Telcoware trades at a price-to-earnings ratio of 4.3 (as of Nov 9, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 16,552 KRW is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings: 12.8. Other multiples: P/B 0.6, P/S 1.6, EV/EBITDA 6.7.
How solid is the balance sheet of Telcoware (078000)?
Balance-sheet figures for Telcoware (as of Nov 9, 2026): return on equity 14.4%. They feed the Quality Score of 77/100, which measures business quality independently of the share price.
How far is 078000 from its 52-week high?
Telcoware trades at 13,060 KRW, about 43% below its 52-week high of 23,000 KRW and 8% above the low of 12,140 KRW (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of 16,552 KRW is for.
Which stocks are comparable to Telcoware?
From the same area (Communication Services) we also value China Mobile Limited, Verizon Communications Inc, T-Mobile US, Inc, AT&T 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 Telcoware stock attractive at the current price?
The data as of Nov 9, 2026: price 13,060 KRW, calculated fair value 16,552 KRW (+27%), Quality Score 77/100, from 24 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 078000 calculated?
We run Telcoware through 24 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 16,552 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. Telcoware currently trades 21% 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 Telcoware (078000)?
The closing price on Nov 9, 2026 was 13,060 KRW. Our model-based fair value is 16,552 KRW, about +27% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Telcoware right now?
The rarer combination: high quality (77/100) AND below fair value. That earns a closer look rather than a quick verdict. The price is below even our cautious bear case (15,921 KRW). The market is more pessimistic than our downside scenario.
Key figures of Telcoware
How large is the market capitalisation of Telcoware (078000)?
The market capitalisation of Telcoware is 67.4B KRW (≈ $49.9M). 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 Telcoware (078000)?
The price-to-sales ratio of Telcoware is 1.56 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Telcoware (078000)?
Earnings per share at Telcoware are 3,090 KRW (price ÷ EPS = P/E 4.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Telcoware (078000)?
The dividend yield of Telcoware is 4.9% (payout 20.7%). 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 Telcoware (078000)?
The net margin of Telcoware is 37.1% (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 Telcoware (078000)?
The return on equity (ROE) of Telcoware is 14.4% (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 Telcoware (078000)?
On an EBIT basis the return on assets of Telcoware is 2.1% (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 Telcoware (078000)?
The operating margin of Telcoware is 30.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Telcoware (078000)?
Revenue at Telcoware is growing +68.5% versus a year earlier (3y avg −3.4%). 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 Telcoware (078000)?
Earnings per share at Telcoware are growing +11.3% versus a year earlier. How much earnings per share grew versus a year earlier.
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Broad data
Nov 9, 2026