Ezwelfare Co Ltd (090850) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Ezwelfare Co Ltd KRW 14,805, price KRW 4,935, upside +200.0%, quality 70 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 4,463 KRW – 11,538 KRW · fair‑value band 8,717 KRW – 24,204 KRW · the 4,935 KRW price screens below the 14,805 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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Hyundai Ezwel Co.,Ltd. develops and sells information systems for managing tasks related to the welfare systems in South Korea.
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Hyundai Ezwel Co.,Ltd. develops and sells information systems for managing tasks related to the welfare systems in South Korea. It offers Selective Welfare System, which enables employees to choose welfare items and benefit levels according to their lifestyle and preference; partner welfare solution; and public welfare solution for various purposes such as employment, childbirth, vacation, employment, and health. The company was formerly known as Ezwel Co., Ltd. and changed its name to Hyundai Ezwel Co.,Ltd. in April 2021. Hyundai Ezwel Co.,Ltd. was founded in 2003 and is based in Seoul, South Korea.
Stock analysis
Ezwelfare Co Ltd (090850) currently trades at 4,935 KRW, while our model-based Fair Value estimate is 14,805 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 23,347 KRW per share, and 23 of the 24 models we run sit above the 4,935 KRW price.
Bear case: the Asset-Based group reads lowest at 3,257 KRW, and 1 of the 24 models stay below the price. Evidence for this calculation is low.
Scenario range: 8,717 KRW (bear) to 24,204 KRW (bull), the price of 4,935 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 70/100 (solid quality), in the Technology sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Ezwelfare Co Ltd reported revenue of 143B KRW in FY2025 versus 96.5B KRW in FY2021, a compound +10.3%/yr. Reported net income was 24.0B KRW in FY2025, compounding +11.7%/yr from FY2021.
Key figures
Market cap 136B KRW (≈ $95.0M) · P/S ratio 1.56 · Dividend yield 2.7% · Net margin 16.8% · Return on equity 1,316% · Return on assets (EBIT) 7.4% · Operating margin 15.2% · Revenue (TTM) 87.2B KRW.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (low confidence).
What moves the price
The share trades about 23% below its 52-week high and 6% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at 48% fair-value upside, at 200%, 090850 screens cheaper than that median.
Fair Value models
Bear 8,717 KRWFair Value 14,805 KRWBull 24,204 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.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+8.8%
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.
+8.2%
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.
+10.3%
Start year 2020 (pandemic). Over 10 years: +13.3% a year
Revenue growth 11 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.
+13.9%
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What shareholders gained per year (last 5 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 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. 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.
+18.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year+16.0%
Dividend (yield on the price)2.7%
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.15% → 17%
2025 sits 87% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Growth Forecast
Little optimism in the price
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).
less than -40 %
Yearly growth needed for the next five years to justify today's 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.Software & IT Services · 39 stocks
Beats the industry median on 7/8 measures
Overall it ranks above its industry peers.
Valuation
Quality Score70 · Top 25%
Fair Value upside+200% · Top 25%
Profitability
Return on assets7% · Top 25%
Net margin (TTM)11% · Above median
Operating margin (TTM)15% · Top 25%
Growth and dividend
Revenue growth15% · Above median
Dividend yield (TTM)2.7% · Top 25%
Valuation Multiplesvs Software & IT 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). "Ezwelfare Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/090850
Frequently asked questions
Is Ezwelfare Co Ltd (090850) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 14,805 KRW versus a price of 4,935 KRW, about +200% upside (undervalued).
What is the fair value of 090850?
Our model-based fair value for Ezwelfare Co Ltd is 14,805 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 4,935 KRW.
What is the quality score of 090850?
Ezwelfare Co Ltd has a Quality Score of 70/100. 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 Ezwelfare Co Ltd (090850)?
Our model-based price target is the fair value of 14,805 KRW (as of Sep 24, 2026) from 24 valuation models. Cautious scenario 8,717 KRW, optimistic scenario 24,204 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Ezwelfare Co Ltd stock forecast for 2026?
Our models put fair value at 14,805 KRW, about +200% upside versus a price of 4,935 KRW (undervalued). Cautious scenario 8,717 KRW, optimistic scenario 24,204 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Ezwelfare Co Ltd (090850)?
Ezwelfare Co Ltd reported trailing-twelve-month revenue of about 87.2B KRW (latest available figure, as of Sep 24, 2026).
Does Ezwelfare Co Ltd pay a dividend?
Ezwelfare Co Ltd currently shows a dividend yield of about 2.66% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Ezwelfare Co Ltd (090850)?
For today's price to be fair in a discounted-cash-flow model, Ezwelfare Co Ltd would have to grow free cash flow by less than minus 40 % per year for five years (discount rate 12.4 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +10.4 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 090850 use?
Our models discount Ezwelfare Co Ltd at 12.4 %: a base by market capitalisation (micro), damped by beta 0.76, 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 Ezwelfare Co Ltd that is less than minus 40 % per year a year over ten years, using the same discount rate (12.4 %) and the same formula as our fair value.
How much growth has Ezwelfare Co Ltd (090850) delivered so far?
Over the past 5 years revenue at Ezwelfare Co Ltd grew +10.4 % a year. The price currently implies less than minus 40 % 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 Ezwelfare Co Ltd (090850) growing?
The median revenue growth in the sector is +8.2 % a year. That is the yardstick for the growth priced into Ezwelfare Co Ltd (less than minus 40 % 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 Ezwelfare Co Ltd (090850)?
The free-cash-flow yield on the price is 6.29 %: that much free cash flow Ezwelfare Co Ltd produces per unit of market value. When it exceeds the discount rate of our models (12.4 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Ezwelfare Co Ltd (090850)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Ezwelfare Co Ltd it is 14,805 KRW per share (as of Sep 24, 2026), against a price of 4,935 KRW. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Ezwelfare Co Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 090850 trades below its calculated fair value: price 4,935 KRW, fair value 14,805 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 090850?
No. The price is what the market pays today (4,935 KRW); the fair value is what the company's own numbers justify (14,805 KRW). For Ezwelfare Co Ltd the two are 9,870 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Ezwelfare Co Ltd worth?
The market values Ezwelfare Co Ltd at about 136B KRW (market capitalisation, as of Sep 24, 2026). Per share that is 4,935 KRW; our models calculate a fair value of 14,805 KRW per share.
What do the bullish and bearish scenarios say about 090850?
Our models span a range for Ezwelfare Co Ltd: cautious scenario 8,717 KRW, base 14,805 KRW, optimistic 24,204 KRW per share (as of Sep 24, 2026, price 4,935 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How far is 090850 from its 52-week high?
Ezwelfare Co Ltd trades at 4,935 KRW, about 23% below its 52-week high of 6,420 KRW and 6% above the low of 4,654 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 14,805 KRW is for.
Which stocks are comparable to Ezwelfare Co Ltd?
From the same area (Technology) we also value KINX, Inc, Wemade Co, Gabia Inc, Hancom 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 Ezwelfare Co Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price 4,935 KRW, calculated fair value 14,805 KRW (+200%), Quality Score 70/100, 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 090850 calculated?
We run Ezwelfare 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 14,805 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 13.2 % above its aggregate fair value. Ezwelfare 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 Ezwelfare Co Ltd (090850)?
The closing price on Sep 23, 2026 was 4,935 KRW. Our model-based fair value is 14,805 KRW, about +200% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Ezwelfare Co Ltd right now?
The rarer combination: high quality (70/100) AND below fair value. That earns a closer look rather than a quick verdict. The price is below even our cautious bear case (8,717 KRW). The market is more pessimistic than our downside scenario. The model range is unusually wide (8,717 KRW to 24,204 KRW). The outcome hinges heavily on assumptions, so read the point estimate with caution. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
Key figures of Ezwelfare Co Ltd
How large is the market capitalisation of Ezwelfare Co Ltd (090850)?
The market capitalisation of Ezwelfare Co Ltd is 136B KRW (≈ $95.0M). 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 Ezwelfare Co Ltd (090850)?
The price-to-sales ratio of Ezwelfare Co Ltd is 1.56 (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 Ezwelfare Co Ltd (090850)?
The dividend yield of Ezwelfare Co Ltd is 2.7%. 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 Ezwelfare Co Ltd (090850)?
The net margin of Ezwelfare Co Ltd is 16.8% (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 Ezwelfare Co Ltd (090850)?
The return on equity (ROE) of Ezwelfare Co Ltd is 1,316% (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 Ezwelfare Co Ltd (090850)?
On an EBIT basis the return on assets of Ezwelfare Co Ltd is 7.4% (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 Ezwelfare Co Ltd (090850)?
The operating margin of Ezwelfare Co Ltd is 15.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Ezwelfare Co Ltd (090850)?
Revenue at Ezwelfare Co Ltd is growing +14.5% versus a year earlier (3y avg +8.2%). 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 Ezwelfare Co Ltd (090850)?
Earnings per share at Ezwelfare Co Ltd are growing −65.9% versus a year earlier. How much earnings per share grew versus a year earlier.
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