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DNF Co (092070) Fair Value & Analysis

Technology · KR · Market cap 139B KRW

DC DNF Co 092070 · KQ
Price13,530 KRW
Fair Value4,650 KRW
Upside-65.6%
Quality67/100
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Weak Growth
Solidly profitable · 12.1% net margin
Low debt · generates free cash flow
0.52% dividend yield
Ranks above peers (6/10)
Narrow moat 38/100
Evidence: High Range 3,487 KRW – 5,812 KRW Share as image

Fair value as of: Jul 22, 2026

From 19 valuation models · updated 19 days ago

Fair value updated Jul 22, 2026, revised from 2,325 KRW to 4,650 KRW (+100.0%) since Jul 6, 2026. Share price +0.7% over the past month.

A solid business, but screening 66% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (5,812 KRW). The favourable scenario is already priced in.
  • Solid but not exceptional quality (67/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

28,775 KRW 7,513 KRW Fair Value 4,650 KRW Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 22, 2026.

How to read this chart

60‑month range 7,513 KRW – 28,775 KRW · fair‑value band 3,487 KRW – 5,812 KRW · the 13,530 KRW price screens above the 4,650 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 22, 2026.

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Analysis

DNF Co (092070) currently trades at 13,530 KRW, while our model-based Fair Value estimate is 4,650 KRW, implying the stock looks roughly 65.6% overvalued today. The Quality Score stands at 67/100 (solid quality), in the Technology sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, DNF Co generated revenue of 141B KRW at a net margin of 12.1%. Revenue grew 3.2% year over year. Net debt stands at 11.4B KRW. Fundamentals as of Jul 22, 2026

Our scenario range runs from 3,487 KRW (bear case) to 5,812 KRW (bull case); at 13,530 KRW, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 48% below its 52-week high and 17% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -68% fair-value upside, at -66%, 092070 screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

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
Highest evidence
Growth DCF 11,875 KRW 15,702 KRW 22,247 KRW 80
Residual Income 9,519 KRW 8,790 KRW 6,331 KRW 76
Rev-Margin DCF 10,534 KRW 14,912 KRW 20,288 KRW 74
All 19 models by family
DCF Models
FCF DCF 11,408 KRW 15,350 KRW 22,652 KRW 38
Owner Earnings 3,313 KRW 4,077 KRW 5,492 KRW 31
5Y Revenue Exit 10,534 KRW 14,677 KRW 20,695 KRW 39
5Y EBITDA Exit 8,316 KRW 10,837 KRW 14,179 KRW 41
5Y P/E Exit 6,152 KRW 7,089 KRW 8,243 KRW 38
10Y Revenue Exit 10,551 KRW 13,672 KRW 17,011 KRW 36
10Y EBITDA Exit 9,453 KRW 11,298 KRW 13,185 KRW 37
10Y P/E Exit 8,139 KRW 8,980 KRW 9,700 KRW 35
Earnings-Based
Graham-Dodd 790.44 KRW 966.10 KRW 1,087 KRW 54
Multiples
P/E Multiple 1,744 KRW 2,325 KRW 2,906 KRW 63
P/S Multiple 1,482 KRW 1,976 KRW 2,470 KRW 58
P/B Multiple 1,482 KRW 1,976 KRW 2,470 KRW 55
EV/EBITDA 7,226 KRW 9,179 KRW 11,131 KRW 54
EV/Revenue 10,770 KRW 14,799 KRW 18,829 KRW 43
Asset-Based
NCAV (Graham) 7,007 KRW 9,389 KRW 14,014 KRW 50
Growth DCF
Growth DCF 11,875 KRW 15,702 KRW 22,247 KRW 80
Rev-Margin DCF 10,534 KRW 14,912 KRW 20,288 KRW 74
Economic Profit
Residual Income 9,519 KRW 8,790 KRW 6,331 KRW 76
Growth Earnings
Growth-Adj P/E 1,234 KRW 1,762 KRW 2,291 KRW 68

Widest divergence: Growth DCF (14,912 KRW) versus Earnings-Based (966.10 KRW). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 141B KRW
Revenue growth (YoY) +3.2%
Net margin 12.1%
Return on equity -113%
Free cash flow 11.0B KRW FY2025
Operating margin 13.7%
More key figures
Dividend yield 0.5%
EPS growth (YoY) +99.4%
Net debt 11.4B KRW FY2022

Figures from reported company fundamentals · as of Jul 22, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 67/100

Of which business quality 66 · Market factors (momentum, volatility) 19

Profitability 21
Margins and returns on capital today
Quality Growth 49
Are margins and returns improving?
Cashflow 72
Earnings quality: real cash, not paper profit
Fin. Strength 82
Balance sheet, leverage, solvency risk
Investment 89
Disciplined investing over empire-building
Low Volatility 17
Calm price path (market factor)
Momentum 16
Price trend over the last 3–12 months (market factor)
52W Momentum 26
Distance to the 52-week high (market factor)
Net Issuance 97
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

DNF Co.,Ltd. engages in the semiconductor and display industry development businesses in South Korea and internationally.

Full company description

DNF Co.,Ltd. engages in the semiconductor and display industry development businesses in South Korea and internationally. The company research, develops, and supplies materials for semiconductor devices, including barrier metals, electronic materials, gap fill materials, high-k and low-k devices, metallization metals, etc.; and electrode and SiO2/SiN materials, as well as patterning materials for circuit on wafer, such as etch hard mask films, DPT materials, GST for PRAM, etc. It also provides functional coating materials for use in home appliances, building materials, display films, anti-glare, ceramic insulating, and automobiles; monodisperse nanoparticles for energy related products; BIPV solar color glasses. The company was founded in 2001 and is headquartered in Daejeon, South Korea.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

DNF Co reported revenue of 79.1B KRW in FY2025 versus 127B KRW in FY2021, a compound −11.2%/yr. Reported net income was 1.2B KRW in FY2025, compounding −43.3%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
79.1B KRW
Latest YoY
+7.0%
Avg. growth/yr (3Y) 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.
−6.5%
Avg. growth/yr (5Y) 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.
−3.6%
Avg. growth/yr (11Y) 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.
+2.3%
Revenue −11.2%/yr
FY21 127B KRW
FY22 96.9B KRW
FY23 84.2B KRW
FY24 73.9B KRW
FY25 79.1B KRW
Net income −43.3%/yr
FY21 12.0B KRW
FY22 5.8B KRW
FY23 9.3B KRW
FY24 631M KRW
FY25 1.2B KRW

092070 screens 66% overvalued. Compare with TES Co →

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Cite: Fair Value Calculator (2026). "DNF Co Fair Value". https://www.fairvalue-calculator.com/stock/092070

Peer Group

Semiconductors & Semiconductor Equipment · 46 stocks

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.

Quality Score 67 · Top 25%
Fair Value upside −66% · Bottom 25%
Return on assets 6% · Above median
Net margin (TTM) 12% · Above median
Operating margin (TTM) 14% · Above median
Revenue growth 3% · Below median
Dividend yield (TTM) 0.5% · Below median

Valuation Multiples vs Semiconductors & Semiconductor Equipment median · lower = cheaper

P/FCF 0.0× · Cheaper than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 0
FUTURE 16 · sector 94
PAST 0 · sector 100
HEALTH 100 · sector 99
DIVIDEND 10 · sector 20

VALUE 0: the price sits above our fair-value range.

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Semiconductors & Semiconductor Equipment stocks, each showing price versus our Fair Value estimate (as of Jul 22, 2026).

Stock Price Fair Value vs Fair Value
TES Co 095610 194,300 KRW 48,953 KRW -75%
Eugene Technology Co 084370 146,800 KRW 38,128 KRW -74%
TSE Co 131290 282,500 KRW 69,101 KRW -76%
ISC Co 095340 151,200 KRW 46,504 KRW -69%
PSK HOLDINGS Inc 031980 136,200 KRW 69,242 KRW -49%
Jeju Semiconductor Corp 080220 81,900 KRW 23,473 KRW -71%
Tokai Carbon Korea Co 064760 232,000 KRW 112,596 KRW -51%
HANA Micron Inc 067310 35,750 KRW 11,501 KRW -68%
RFHIC Corporation 218410 46,250 KRW 20,781 KRW -55%
S&S Tech Corporation 101490 39,600 KRW 46,799 KRW +18%

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Frequently asked questions

Is DNF Co (092070) overvalued or undervalued?
As of Jul 22, 2026, our model estimates a fair value of 4,650 KRW versus a price of 13,530 KRW, about −66% (overvalued).
What is the fair value of 092070?
Our model-based fair value for DNF Co is 4,650 KRW (as of Jul 22, 2026), built from audited fundamentals. The current price is 13,530 KRW.
What is the quality score of 092070?
DNF Co has a Quality Score of 67/100. 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 revenue of DNF Co (092070)?
DNF Co reported trailing-twelve-month revenue of about 141B KRW (latest available figure, as of Jul 22, 2026).
What is the net profit margin of 092070?
The net profit margin of DNF Co is about 12.1%, meaning it keeps roughly 12.1% of revenue as net income. Based on the latest reported figures.
Does DNF Co pay a dividend?
DNF Co currently shows a dividend yield of about 0.52% relative to its recent price (as of Jul 22, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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