EBEST Investment & Securities Co. Ltd (078020) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of EBEST Investment & Securities Co. Ltd KRW 6,663, price KRW 6,530, upside +2.0%, quality 48 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.
How to read this chart
60‑month range 3,162 KRW – 9,010 KRW · fair‑value band 4,998 KRW – 8,329 KRW · the 6,530 KRW price screens below the 6,663 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 23, 2026.
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EBEST Investment & Securities Co., Ltd. engages in the investment brokerage and trading businesses in South Korea. The company provides consignment and consignment-related credit services. It is also involved in the trading of securities and derivatives; acquisition/sale/arrangement of securities; asset securitization; project financing, etc. activities.
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EBEST Investment & Securities Co., Ltd. engages in the investment brokerage and trading businesses in South Korea. The company provides consignment and consignment-related credit services. It is also involved in the trading of securities and derivatives; acquisition/sale/arrangement of securities; asset securitization; project financing, etc. activities. The company was formerly known as E*TRADE Korea Co., Ltd. and changed its name to EBEST Investment & Securities Co., Ltd. in April 2015. EBEST Investment & Securities Co., Ltd. was founded in 1999 and is headquartered in Seoul, South Korea.
Stock analysis
EBEST Investment & Securities Co. Ltd (078020) currently trades at 6,530 KRW, while our model-based Fair Value estimate is 6,663 KRW, implying the stock looks roughly 2.0% fairly valued today.
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Valuation
Bull case: the Economic Profit group reads highest at a median of 12,109 KRW per share, and 3 of the 4 models we run sit above the 6,530 KRW price.
Bear case: the Multiples group reads lowest at 5,844 KRW, and 1 of the 4 models stay below the price. Evidence for this calculation is medium.
Scenario range: 4,998 KRW (bear) to 8,329 KRW (bull), the price of 6,530 KRW sits inside 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 Financials sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
EBEST Investment & Securities Co. Ltd reported revenue of 197B KRW in FY2025 versus 1.2T KRW in FY2021, a compound −36.8%/yr. Reported net income was 23.0B KRW in FY2025, compounding −38.5%/yr from FY2021.
Key figures
Market cap 329B KRW (≈ $230M) · P/S ratio 0.26 · Dividend yield 3.2% · Net margin 11.7% · Return on equity 168% · Return on assets (EBIT) 1.3% · Operating margin 40.0% · Revenue growth (YoY) −9.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (low confidence).
What moves the price
The share trades about 28% below its 52-week high and 49% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financials peers we cover trades at −21% fair-value upside, at 2%, 078020 screens cheaper than that median.
Fair Value models
Bear 4,998 KRWFair Value 6,663 KRWBull 8,329 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.
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.40/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−84.3%
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.
−43.2%
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.
−34.6%
Start year 2020 (pandemic). Over 10 years: −10.1% a year
Revenue growth 25 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.
+15.1%
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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.
−25.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year−28.9%
Dividend (yield on the price)3.2%
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.−29% vs −4%, slowing
Profit margin 2019 to 2024 ⓘ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.8% → 2%
Start year 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more 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).
+39.1%
Yearly growth needed for the next five years to justify today's price.
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 +36.3% a year for the price.
Compare EBEST Investment & Securities Co. Ltd with another stock
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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.Investment Banking & Investment Services · 19 stocks
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Is EBEST Investment & Securities Co. Ltd (078020) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of 6,663 KRW versus a price of 6,530 KRW, about +2% upside (fairly valued).
What is the fair value of 078020?
Our model-based fair value for EBEST Investment & Securities Co. Ltd is 6,663 KRW (as of Sep 23, 2026), built from audited fundamentals. The current price: 6,530 KRW.
What is the quality score of 078020?
EBEST Investment & Securities 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 EBEST Investment & Securities Co. Ltd (078020)?
Our model-based price target is the fair value of 6,663 KRW (as of Sep 23, 2026) from 4 valuation models. Cautious scenario 4,998 KRW, optimistic scenario 8,329 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the EBEST Investment & Securities Co. Ltd stock forecast for 2026?
Our models put fair value at 6,663 KRW, about +2% upside versus a price of 6,530 KRW (fairly valued). Cautious scenario 4,998 KRW, optimistic scenario 8,329 KRW. The calculation is refreshed regularly with new filings.
Does EBEST Investment & Securities Co. Ltd pay a dividend?
EBEST Investment & Securities Co. Ltd currently shows a dividend yield of about 3.16% relative to its recent price (as of Sep 23, 2026).
What growth is priced into EBEST Investment & Securities Co. Ltd (078020)?
For today's price to be fair in a discounted-cash-flow model, EBEST Investment & Securities Co. Ltd would have to grow free cash flow by +39.1 % per year for five years (discount rate 8.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -34.6 % per year. As of Sep 23, 2026.
What discount rate (WACC) does the fair value of 078020 use?
Our models discount EBEST Investment & Securities Co. Ltd at 8.9 %: a base by market capitalisation (mega), damped by beta 0.87, 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 EBEST Investment & Securities Co. Ltd that is +39.1 % per year a year over ten years, using the same discount rate (8.9 %) and the same formula as our fair value.
How much growth has EBEST Investment & Securities Co. Ltd (078020) delivered so far?
Over the past 5 years revenue at EBEST Investment & Securities Co. Ltd grew -34.6 % a year. The price currently implies +39.1 % per year free-cash-flow growth a 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 EBEST Investment & Securities Co. Ltd (078020) growing?
The median revenue growth in the sector is +8.4 % a year. That is the yardstick for the growth priced into EBEST Investment & Securities Co. Ltd (+39.1 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of EBEST Investment & Securities Co. Ltd (078020)?
The free-cash-flow yield on the price is 8.23 %: that much free cash flow EBEST Investment & Securities Co. Ltd produces per unit of market value. When it exceeds the discount rate of our models (8.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of EBEST Investment & Securities Co. Ltd (078020)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For EBEST Investment & Securities Co. Ltd it is 6,663 KRW per share (as of Sep 23, 2026), against a price of 6,530 KRW. It is the blended result of 4 valuation models (cash flow, earnings, asset, dividend).
Is EBEST Investment & Securities Co. Ltd stock overvalued or undervalued in 2026?
As of Sep 23, 2026, 078020 trades below its calculated fair value: price 6,530 KRW, fair value 6,663 KRW, a gap of about +2% (fairly valued). 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 078020?
No. The price is what the market pays today (6,530 KRW); the fair value is what the company's own numbers justify (6,663 KRW). For EBEST Investment & Securities Co. Ltd the two are 133.47 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is EBEST Investment & Securities Co. Ltd worth?
The market values EBEST Investment & Securities Co. Ltd at about 329B KRW (market capitalisation, as of Sep 23, 2026). Per share that is 6,530 KRW; our models calculate a fair value of 6,663 KRW per share.
What do the bullish and bearish scenarios say about 078020?
Our models span a range for EBEST Investment & Securities Co. Ltd: cautious scenario 4,998 KRW, base 6,663 KRW, optimistic 8,329 KRW per share (as of Sep 23, 2026, price 6,530 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of EBEST Investment & Securities Co. Ltd (078020)?
Balance-sheet figures for EBEST Investment & Securities Co. Ltd (as of Sep 23, 2026): return on equity 167.8%, debt of 1.35 per unit of equity. They feed the Quality Score of 48/100, which measures business quality independently of the share price.
How far is 078020 from its 52-week high?
EBEST Investment & Securities Co. Ltd trades at 6,530 KRW, about 28% below its 52-week high of 9,010 KRW and 49% above the low of 4,395 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 6,663 KRW is for.
Which stocks are comparable to EBEST Investment & Securities Co. Ltd?
From the same area (Financials) we also value Mirae Asset Venture Investment Co, Aju IB Investment Co, PSE, Daesung Private Equity, 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 EBEST Investment & Securities Co. Ltd stock attractive at the current price?
The data as of Sep 23, 2026: price 6,530 KRW, calculated fair value 6,663 KRW (+2%), Quality Score 48/100, from 4 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 078020 calculated?
We run EBEST Investment & Securities Co. Ltd through 4 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 6,663 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 14.1 % above its aggregate fair value. EBEST Investment & Securities Co. Ltd currently trades 2 % 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 EBEST Investment & Securities Co. Ltd (078020)?
The closing price on Sep 23, 2026 was 6,530 KRW. Our model-based fair value is 6,663 KRW, about +2% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with EBEST Investment & Securities Co. Ltd right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Key figures of EBEST Investment & Securities Co. Ltd
How large is the market capitalisation of EBEST Investment & Securities Co. Ltd (078020)?
The market capitalisation of EBEST Investment & Securities Co. Ltd is 329B KRW (≈ $230M). 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 EBEST Investment & Securities Co. Ltd (078020)?
The price-to-sales ratio of EBEST Investment & Securities Co. Ltd is 0.26 (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 EBEST Investment & Securities Co. Ltd (078020)?
The dividend yield of EBEST Investment & Securities Co. Ltd is 3.2%. 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 EBEST Investment & Securities Co. Ltd (078020)?
The net margin of EBEST Investment & Securities Co. Ltd is 11.7% (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 EBEST Investment & Securities Co. Ltd (078020)?
The return on equity (ROE) of EBEST Investment & Securities Co. Ltd is 168% (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 EBEST Investment & Securities Co. Ltd (078020)?
On an EBIT basis the return on assets of EBEST Investment & Securities 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 EBEST Investment & Securities Co. Ltd (078020)?
The operating margin of EBEST Investment & Securities Co. Ltd is 40.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at EBEST Investment & Securities Co. Ltd (078020)?
Revenue at EBEST Investment & Securities Co. Ltd is growing −9.6% versus a year earlier (3y avg −43.2%). 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 EBEST Investment & Securities Co. Ltd (078020)?
Earnings per share at EBEST Investment & Securities Co. Ltd are growing −81.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does EBEST Investment & Securities Co. Ltd (078020) carry?
The net debt of EBEST Investment & Securities Co. Ltd is 14.6B KRW (fiscal year 2025, ≈ 0.5 yrs of FCF). 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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