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UniTest Incorporation (086390) fair value: what the stock is really worth

As of Sep 23, 2026: fair value of UniTest Incorporation KRW 2,011, price KRW 13,300, upside -84.9%, quality 52 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

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

Technology · KR · ISIN KR7086390002

UI Thin data Sep 24, 2026

UniTest Incorporation

086390 · KQ

Stretched ValuationStrong overvaluation with only moderate quality.

!Fair value 2,011 KRW · Strongly overvalued (−85%)
!Quality 52/100
!Weak Growth (revenue 5y −2.2 %/yr)
!Loss-making · -14.6% net margin (TTM)
!Low debt · negative free cash flow
!Trails peers (2/8)
!Narrow moat 12/100
!Evidence only low, so the estimate is less certain

What runs behind every stock

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

Price vs Fair Value

31,102 KRW 6,580 KRW Fair Value 2,011 KRW May 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 6,580 KRW – 31,102 KRW · fair‑value band 1,264 KRW – 2,515 KRW · the 13,300 KRW price screens above the 2,011 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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Company profile

UniTest Incorporation manufactures and sells semiconductor testing equipment in South Korea. It provides component, module, and application level testers; and LED street, security, and flat panel lighting products, as well as converters. The company was formerly known as ISOA TECH, Inc. and changed its name to UniTest Incorporation in September 2002.

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UniTest Incorporation manufactures and sells semiconductor testing equipment in South Korea. It provides component, module, and application level testers; and LED street, security, and flat panel lighting products, as well as converters. The company was formerly known as ISOA TECH, Inc. and changed its name to UniTest Incorporation in September 2002. UniTest Incorporation was founded in 2000 and is based in Yongin, South Korea.

Stock analysis

UniTest Incorporation (086390) currently trades at 13,300 KRW, while our model-based Fair Value estimate is 2,011 KRW, implying the stock looks roughly 561.4% overvalued today.

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Valuation

Bull case: the Asset-Based group reads highest at a median of 3,218 KRW per share, and 0 of the 3 models we run sit above the 13,300 KRW price.

Bear case: the Dividend Discount group reads lowest at 2,161 KRW, and 3 of the 3 models stay below the price. Evidence for this calculation is low.

Scenario range: 1,264 KRW (bear) to 2,515 KRW (bull), the price of 13,300 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 52/100 (solid quality), in the Technology sector.

Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.

UniTest Incorporation reported revenue of 110B KRW in FY2025 versus 115B KRW in FY2021, a compound −1.0%/yr. Reported net income was −20.8B KRW in FY2025.

Key figures

Market cap 270B KRW (≈ $199M) · P/S ratio 2.11 · Dividend yield 2.0% · Net margin −18.9% · Return on equity −1,889% · Return on assets (EBIT) −6.5% · Operating margin −16.9% · Revenue (TTM) 93.7B KRW.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (medium confidence).

What moves the price

The share trades about 41% below its 52-week high and 102% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Technology peers we cover trades at −42% fair-value upside, at −85%, 086390 screens richer than that median.

Fair Value models

Bear 1,264 KRW Fair Value 2,011 KRW Bull 2,515 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
Gordon GGM 1,384 KRW 2,318 KRW 3,009 KRW 68
DDM Multi-Stage 1,384 KRW 2,161 KRW 2,494 KRW 67
NCAV (Graham) 2,402 KRW 3,218 KRW 4,804 KRW 54
All 3 models by family
Dividend Discount
Gordon GGM 1,384 KRW 2,318 KRW 3,009 KRW 68
DDM Multi-Stage 1,384 KRW 2,161 KRW 2,494 KRW 67
Asset-Based
NCAV (Graham) 2,402 KRW 3,218 KRW 4,804 KRW 54

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Quality Score breakdown

Overall quality 52/100

Of which business quality 50 · Market factors (momentum, volatility) 19

Profitability 12
Margins and returns on capital today
Quality Growth 63
Are margins and returns improving?
Cashflow 13
Earnings quality: real cash, not paper profit
Fin. Strength 69
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 22
Calm price path (market factor)
Momentum 16
Price trend over the last 3–12 months (market factor)
52W Momentum 22
Distance to the 52-week high (market factor)
Net Issuance 82
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. 0/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+19.2%
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.
−3.8%
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.
−2.2%
Start year 2020 (pandemic). Over 10 years: −1.9% 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.
+5.6%
Profit margin (trend) ⓘ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.
2.2% (2020) → −19.1% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

086390 screens 561% overvalued. Compare with TES Co →

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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.Semiconductors & Semiconductor Equipment · 48 stocks

Beats the industry median on 2/8 measures
Overall it trails its industry peers.
Valuation
Quality Score 52 · Below median
Fair Value upside −85% · Bottom 25%
Profitability
Return on assets −5% · Bottom 25%
Net margin (TTM) −15% · Bottom 25%
Operating margin (TTM) −17% · Bottom 25%
Growth and dividend
Revenue growth −9% · Bottom 25%
Dividend yield (TTM) 2.0% · Top 25%
Balance sheet
Debt / equity 0.02× · Below median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 10
FUTURE (revenue growth)0 · sector 100
PAST (return on equity)0 · sector 100
HEALTH (low debt)99 · sector 99
DIVIDEND (yield)41 · sector 17

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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Tokai Carbon Korea Co 064760 286,000 KRW 262,416 KRW −8%
HANA Micron Inc 067310 46,200 KRW 16,102 KRW −65%
DOOSAN TESNA Inc 131970 93,700 KRW 24,434 KRW −74%
RFHIC Corporation 218410 58,600 KRW 56,462 KRW −4%

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Cite: Fair Value Calculator (2026). "UniTest Incorporation Fair Value". https://www.fairvalue-calculator.com/stock/086390

Frequently asked questions

Is UniTest Incorporation (086390) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 2,011 KRW versus a price of 13,300 KRW, about −85% upside (overvalued).
What is the fair value of 086390?
Our model-based fair value for UniTest Incorporation is 2,011 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 13,300 KRW.
What is the quality score of 086390?
UniTest Incorporation has a Quality Score of 52/100. 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 UniTest Incorporation (086390)?
Our model-based price target is the fair value of 2,011 KRW (as of Sep 24, 2026) from 3 valuation models. Cautious scenario 1,264 KRW, optimistic scenario 2,515 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the UniTest Incorporation stock forecast for 2026?
Our models put fair value at 2,011 KRW, about −85% upside versus a price of 13,300 KRW (overvalued). Cautious scenario 1,264 KRW, optimistic scenario 2,515 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of UniTest Incorporation (086390)?
UniTest Incorporation reported trailing-twelve-month revenue of about 93.7B KRW (latest available figure, as of Sep 24, 2026).
Does UniTest Incorporation pay a dividend?
UniTest Incorporation currently shows a dividend yield of about 2.03% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of UniTest Incorporation (086390)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For UniTest Incorporation it is 2,011 KRW per share (as of Sep 24, 2026), against a price of 13,300 KRW. It is the blended result of 3 valuation models (cash flow, earnings, asset, dividend).
Is UniTest Incorporation stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 086390 trades above its calculated fair value: price 13,300 KRW, fair value 2,011 KRW, a gap of about −85% (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 086390?
No. The price is what the market pays today (13,300 KRW); the fair value is what the company's own numbers justify (2,011 KRW). For UniTest Incorporation the two are 11,289 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is UniTest Incorporation worth?
The market values UniTest Incorporation at about 270B KRW (market capitalisation, as of Sep 24, 2026). Per share that is 13,300 KRW; our models calculate a fair value of 2,011 KRW per share.
What do the bullish and bearish scenarios say about 086390?
Our models span a range for UniTest Incorporation: cautious scenario 1,264 KRW, base 2,011 KRW, optimistic 2,515 KRW per share (as of Sep 24, 2026, price 13,300 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of UniTest Incorporation (086390)?
Balance-sheet figures for UniTest Incorporation (as of Sep 24, 2026): debt of 0.02 per unit of equity. They feed the Quality Score of 52/100, which measures business quality independently of the share price.
How far is 086390 from its 52-week high?
UniTest Incorporation trades at 13,300 KRW, about 41% below its 52-week high of 22,700 KRW and 102% above the low of 6,580 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 2,011 KRW is for.
Which stocks are comparable to UniTest Incorporation?
From the same area (Technology) we also value TES Co, Eugene Technology Co, TSE Co, ISC 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 UniTest Incorporation stock attractive at the current price?
The data as of Sep 24, 2026: price 13,300 KRW, calculated fair value 2,011 KRW (−85%), Quality Score 52/100, from 3 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 086390 calculated?
We run UniTest Incorporation through 3 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 2,011 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. UniTest Incorporation 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 UniTest Incorporation (086390)?
The closing price on Sep 23, 2026 was 13,300 KRW. Our model-based fair value is 2,011 KRW, about −85% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with UniTest Incorporation right now?
The price sits above even our optimistic bull case (2,515 KRW). The favourable scenario is already priced in. 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 but not exceptional quality (52/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (1,264 KRW to 2,515 KRW) leaves room in how you read the outcome.

Key figures of UniTest Incorporation

How large is the market capitalisation of UniTest Incorporation (086390)?
The market capitalisation of UniTest Incorporation is 270B KRW (≈ $199M). 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 UniTest Incorporation (086390)?
The price-to-sales ratio of UniTest Incorporation is 2.11 (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 UniTest Incorporation (086390)?
The dividend yield of UniTest Incorporation is 2.0%. 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 UniTest Incorporation (086390)?
The net margin of UniTest Incorporation is −18.9% (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 UniTest Incorporation (086390)?
The return on equity (ROE) of UniTest Incorporation is −1,889% (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 UniTest Incorporation (086390)?
On an EBIT basis the return on assets of UniTest Incorporation is −6.5% (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 UniTest Incorporation (086390)?
The operating margin of UniTest Incorporation is −16.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at UniTest Incorporation (086390)?
Revenue at UniTest Incorporation is growing −8.8% versus a year earlier (3y avg −3.8%). 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 UniTest Incorporation (086390)?
Earnings per share at UniTest Incorporation are growing +413% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does UniTest Incorporation (086390) generate?
The free cash flow of UniTest Incorporation is −25.0B 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 UniTest Incorporation (086390) carry?
The net debt of UniTest Incorporation is 22.3B 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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