FNS TECH. Co., Ltd (083500) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of FNS TECH. Co., Ltd KRW 19,500, price KRW 12,200, upside +59.8%, quality 60 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 24, 2026.
How to read this chart
60‑month range 6,291 KRW – 23,200 KRW · fair‑value band 12,907 KRW – 27,648 KRW · the 12,200 KRW price screens below the 19,500 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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FNS TECH. Co., Ltd manufactures and sells process equipment for OLED products worldwide. It offers cleaner, a device, which removes natural oxide film, ion, organic matters, metal, and impurities on substrates; stripper, a device, which removes photo-resist after the etching process; developer and etcher products.
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FNS TECH. Co., Ltd manufactures and sells process equipment for OLED products worldwide. It offers cleaner, a device, which removes natural oxide film, ion, organic matters, metal, and impurities on substrates; stripper, a device, which removes photo-resist after the etching process; developer and etcher products. The company also provides GSM, a device that slim down the thickness of LCD glass; coater, a device that coats photo-resist in uniform thickness; vertical process system, a glass transfer system; roll to roll wet process equipment used in FPD manufacturing; and UV lamps for the removal of TOC and bacterial sterilization existing in the DI and water. In addition, the company offers chemical mecanical polishing pads, a chemical mechanical polishing for flattening the uneven part of wafer, as well as provides OLED mask cleaning services. FNS TECH. Co., Ltd was founded in 2002 and is headquartered in Cheonan-si, South Korea.
Stock analysis
FNS TECH. Co., Ltd (083500) currently trades at 12,200 KRW, while our model-based Fair Value estimate is 19,500 KRW, implying the stock looks roughly 37.4% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 27,172 KRW per share, and 16 of the 24 models we run sit above the 12,200 KRW price.
Bear case: the Asset-Based group reads lowest at 7,268 KRW, and 8 of the 24 models stay below the price. Evidence for this calculation is medium.
Scenario range: 12,907 KRW (bear) to 27,648 KRW (bull), the price of 12,200 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 60/100 (solid quality), in the Technology sector.
Mixed Growth: Spin-off in 2025: revenue and profit before it include the divested business. Growth is measured afresh from 2025.
FNS TECH. Co., Ltd reported revenue of 73.7B KRW in FY2025 versus 67.6B KRW in FY2022, a compound +2.9%/yr. Reported net income was 8.7B KRW in FY2025, compounding +21.9%/yr from FY2022.
Key figures
Market cap 102B KRW (≈ $71.5M) · P/S ratio 1.39 · Dividend yield 2.8% · Net margin 11.8% · Return on equity 13.3% · Return on assets (EBIT) 6.0% · Operating margin 27.0% · Revenue (TTM) 73.5B KRW.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 47% below its 52-week high and 24% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −34% fair-value upside, at 60%, 083500 screens cheaper than that median.
Fair Value models
Bear 12,907 KRWFair Value 19,500 KRWBull 27,648 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.55/100
Spin-off in 2025: revenue and profit before it include the divested business. Growth is measured afresh from 2025.
What shareholders gained per year (last 3 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 3 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.
+48.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+45.6%
Dividend (yield on the price)2.8%
Profit margin 2022 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.9% → 14%
2025 sits 85% above its own trend. The rate follows the median trend of the last 3 years, not that single year.
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).
+16.9%
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 +14.5% 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.Semiconductor Equipment & Materials · 219 stocks
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.
Is FNS TECH. Co., Ltd (083500) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 19,500 KRW versus a price of 12,200 KRW, about +60% upside (undervalued).
What is the fair value of 083500?
Our model-based fair value for FNS TECH. Co., Ltd is 19,500 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 12,200 KRW.
What is the quality score of 083500?
FNS TECH. Co., Ltd has a Quality Score of 60/100. 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 FNS TECH. Co., Ltd (083500)?
Our model-based price target is the fair value of 19,500 KRW (as of Sep 24, 2026) from 24 valuation models. Cautious scenario 12,907 KRW, optimistic scenario 27,648 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the FNS TECH. Co., Ltd stock forecast for 2026?
Our models put fair value at 19,500 KRW, about +60% upside versus a price of 12,200 KRW (undervalued). Cautious scenario 12,907 KRW, optimistic scenario 27,648 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of FNS TECH. Co., Ltd (083500)?
FNS TECH. Co., Ltd reported trailing-twelve-month revenue of about 73.5B KRW (latest available figure, as of Sep 24, 2026).
Does FNS TECH. Co., Ltd pay a dividend?
FNS TECH. Co., Ltd currently shows a dividend yield of about 2.79% relative to its recent price (as of Sep 24, 2026).
What growth is priced into FNS TECH. Co., Ltd (083500)?
For today's price to be fair in a discounted-cash-flow model, FNS TECH. Co., Ltd would have to grow free cash flow by +16.9 % per year for five years (discount rate 13.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 3 years revenue grew +2.9 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 083500 use?
Our models discount FNS TECH. Co., Ltd at 13.5 %: a base by market capitalisation (micro), damped by beta 1.11, 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 FNS TECH. Co., Ltd that is +16.9 % per year a year over ten years, using the same discount rate (13.5 %) and the same formula as our fair value.
How much growth has FNS TECH. Co., Ltd (083500) delivered so far?
Over the past 3 years revenue at FNS TECH. Co., Ltd grew +2.9 % a year. The price currently implies +16.9 % 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 FNS TECH. Co., Ltd (083500) growing?
The median revenue growth in the sector is +3.3 % a year. That is the yardstick for the growth priced into FNS TECH. Co., Ltd (+16.9 % 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 FNS TECH. Co., Ltd (083500)?
The free-cash-flow yield on the price is 4.75 %: that much free cash flow FNS TECH. Co., Ltd produces per unit of market value. When it exceeds the discount rate of our models (13.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of FNS TECH. Co., Ltd (083500)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For FNS TECH. Co., Ltd it is 19,500 KRW per share (as of Sep 24, 2026), against a price of 12,200 KRW. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is FNS TECH. Co., Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 083500 trades below its calculated fair value: price 12,200 KRW, fair value 19,500 KRW, a gap of about +60% (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 083500?
No. The price is what the market pays today (12,200 KRW); the fair value is what the company's own numbers justify (19,500 KRW). For FNS TECH. Co., Ltd the two are 7,300 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is FNS TECH. Co., Ltd worth?
The market values FNS TECH. Co., Ltd at about 102B KRW (market capitalisation, as of Sep 24, 2026). Per share that is 12,200 KRW; our models calculate a fair value of 19,500 KRW per share.
What do the bullish and bearish scenarios say about 083500?
Our models span a range for FNS TECH. Co., Ltd: cautious scenario 12,907 KRW, base 19,500 KRW, optimistic 27,648 KRW per share (as of Sep 24, 2026, price 12,200 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of FNS TECH. Co., Ltd (083500)?
Balance-sheet figures for FNS TECH. Co., Ltd (as of Sep 24, 2026): return on equity 13.3%, debt of 0.06 per unit of equity. They feed the Quality Score of 60/100, which measures business quality independently of the share price.
How far is 083500 from its 52-week high?
FNS TECH. Co., Ltd trades at 12,200 KRW, about 47% below its 52-week high of 23,200 KRW and 24% above the low of 9,800 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 19,500 KRW is for.
Which stocks are comparable to FNS TECH. Co., Ltd?
From the same area (Technology) we also value ASML Holding, Applied Materials, Inc, Lam Research Corporation, KLA Corporation, 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 FNS TECH. Co., Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price 12,200 KRW, calculated fair value 19,500 KRW (+60%), Quality Score 60/100, 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 083500 calculated?
We run FNS TECH. Co., Ltd through 24 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 19,500 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 13.0 % above its aggregate fair value. FNS TECH. Co., Ltd currently trades 60 % 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 FNS TECH. Co., Ltd (083500)?
The closing price on Sep 23, 2026 was 12,200 KRW. Our model-based fair value is 19,500 KRW, about +60% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with FNS TECH. Co., Ltd right now?
The price is below even our cautious bear case (12,907 KRW). The market is more pessimistic than our downside scenario. Solid quality (60/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (12,907 KRW to 27,648 KRW) leaves room in how you read the outcome.
Key figures of FNS TECH. Co., Ltd
How large is the market capitalisation of FNS TECH. Co., Ltd (083500)?
The market capitalisation of FNS TECH. Co., Ltd is 102B KRW (≈ $71.5M). 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 FNS TECH. Co., Ltd (083500)?
The price-to-sales ratio of FNS TECH. Co., Ltd is 1.39 (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 FNS TECH. Co., Ltd (083500)?
The dividend yield of FNS TECH. Co., Ltd is 2.8%. 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 FNS TECH. Co., Ltd (083500)?
The net margin of FNS TECH. Co., Ltd is 11.8% (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 FNS TECH. Co., Ltd (083500)?
The return on equity (ROE) of FNS TECH. Co., Ltd is 13.3% (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 FNS TECH. Co., Ltd (083500)?
On an EBIT basis the return on assets of FNS TECH. Co., Ltd is 6.0% (avg 4y). 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 FNS TECH. Co., Ltd (083500)?
The operating margin of FNS TECH. Co., Ltd is 27.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at FNS TECH. Co., Ltd (083500)?
Revenue at FNS TECH. Co., Ltd is growing −0.9% versus a year earlier (3y avg +2.9%). 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 FNS TECH. Co., Ltd (083500)?
Earnings per share at FNS TECH. Co., Ltd are growing +83.7% versus a year earlier. How much earnings per share grew versus a year earlier.
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