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Wave Electronics Co (095270) Fair Value & Analysis

Technology · KR · Market cap 47.5B KRW

WE Wave Electronics Co 095270 · KQ
Price4,640 KRW
Fair Value1,966 KRW
Upside-57.6%
Quality62/100
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Healthy Growth
Loss-making · -1.3% net margin
Low debt · generates free cash flow
Trails peers (3/8)
Narrow moat 23/100
Evidence: High Range 1,474 KRW – 2,457 KRW Share as image

Fair value as of: Jul 22, 2026

From 23 valuation models · updated 19 days ago

Fair value updated Jul 22, 2026, revised from 1,632 KRW to 1,966 KRW (+20.5%) since Jul 5, 2026. Share price +21.6% over the past month.

A solid business, but screening 58% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (2,457 KRW). The favourable scenario is already priced in.
  • Solid but not exceptional quality (62/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

12,000 KRW 2,975 KRW Fair Value 1,966 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 2,975 KRW – 12,000 KRW · fair‑value band 1,474 KRW – 2,457 KRW · the 4,640 KRW price screens above the 1,966 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

Wave Electronics Co (095270) currently trades at 4,640 KRW, while our model-based Fair Value estimate is 1,966 KRW, implying the stock looks roughly 57.6% overvalued today. The Quality Score stands at 62/100 (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, Wave Electronics Co generated revenue of 51.0B KRW at a net margin of -1.3%. Revenue grew 108.2% year over year. Net debt stands at 14.8B KRW. Fundamentals as of Jul 22, 2026

Our scenario range runs from 1,474 KRW (bear case) to 2,457 KRW (bull case); at 4,640 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 62% below its 52-week high and 22% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at 12% fair-value upside, at -58%, 095270 screens richer 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 10,747 KRW 16,030 KRW 24,406 KRW 80
Residual Income 3,782 KRW 3,643 KRW 3,015 KRW 76
Rev-Margin DCF 9,216 KRW 13,504 KRW 18,635 KRW 74
All 23 models by family
DCF Models
FCF DCF 10,663 KRW 16,040 KRW 24,586 KRW 38
Owner Earnings 3,437 KRW 4,259 KRW 5,565 KRW 31
5Y Revenue Exit 9,216 KRW 13,505 KRW 19,038 KRW 39
5Y EBITDA Exit 5,848 KRW 7,010 KRW 8,264 KRW 41
5Y P/E Exit 6,308 KRW 7,897 KRW 9,526 KRW 38
10Y Revenue Exit 9,442 KRW 13,546 KRW 19,216 KRW 36
10Y EBITDA Exit 7,477 KRW 8,962 KRW 10,757 KRW 37
10Y P/E Exit 7,773 KRW 9,587 KRW 11,748 KRW 35
Earnings-Based
Graham-Dodd 974.70 KRW 3,487 KRW 4,698 KRW 54
Lynch FV 821.76 KRW 1,174 KRW 1,526 KRW 50
PEG = 1.0 821.76 KRW 1,174 KRW 1,526 KRW 46
Dividend Discount
Gordon GGM 383.82 KRW 798.04 KRW 1,266 KRW 70
DDM Multi-Stage 383.82 KRW 672.92 KRW 837.56 KRW 61
Multiples
P/E Multiple 2,150 KRW 2,867 KRW 3,583 KRW 63
P/S Multiple 1,828 KRW 2,437 KRW 3,046 KRW 58
P/B Multiple 1,828 KRW 2,437 KRW 3,046 KRW 55
EV/EBITDA 3,509 KRW 3,967 KRW 4,426 KRW 54
EV/Revenue 8,711 KRW 11,530 KRW 14,349 KRW 43
Asset-Based
NCAV (Graham) 2,633 KRW 3,529 KRW 5,267 KRW 50
Growth DCF
Growth DCF 10,747 KRW 16,030 KRW 24,406 KRW 80
Rev-Margin DCF 9,216 KRW 13,504 KRW 18,635 KRW 74
Economic Profit
Residual Income 3,782 KRW 3,643 KRW 3,015 KRW 76
Growth Earnings
Growth-Adj P/E 1,526 KRW 2,180 KRW 2,834 KRW 68

Widest divergence: Growth DCF (13,504 KRW) versus Dividend Discount (672.92 KRW). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 51.0B KRW
Revenue growth (YoY) +108%
Net margin -1.3%
Return on equity -1,508%
Free cash flow 7.4B KRW FY2025
Operating margin -3.8%
More key figures
Net debt 14.8B KRW FY2020

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

Quality Score breakdown

Overall quality 62/100

Of which business quality 63 · Market factors (momentum, volatility) 23

Profitability 30
Margins and returns on capital today
Quality Growth 36
Are margins and returns improving?
Cashflow 65
Earnings quality: real cash, not paper profit
Fin. Strength 77
Balance sheet, leverage, solvency risk
Investment 93
Disciplined investing over empire-building
Low Volatility 33
Calm price path (market factor)
Momentum 14
Price trend over the last 3–12 months (market factor)
52W Momentum 26
Distance to the 52-week high (market factor)
Net Issuance 90
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

Wave Electronics Co., Ltd. manufactures and sells products for wireless telecommunications, defense, and display businesses in South Korea. It offers wireless base stations, repeater amplifiers, filters, IoT modules, RF systems, and network systems; signal processing devices for guided weapons; and masks for OLED panel deposition.

Full company description

Wave Electronics Co., Ltd. manufactures and sells products for wireless telecommunications, defense, and display businesses in South Korea. It offers wireless base stations, repeater amplifiers, filters, IoT modules, RF systems, and network systems; signal processing devices for guided weapons; and masks for OLED panel deposition. The company was formerly known as Wave Telecom Corporation and changed its name to Wave Electronics Co., Ltd. in August 2002. Wave Electronics Co., Ltd. was founded in 1999 and is headquartered in Suwon, South Korea.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Wave Electronics Co reported revenue of 80.5B KRW in FY2025 versus 47.5B KRW in FY2021, a compound +14.1%/yr. Reported net income was 1.5B KRW in FY2025, compounding −60.5%/yr from FY2021.

Growth Quality 90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
80.5B KRW
Latest YoY
+3.2%
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.
+10.8%
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.
+15.1%
Avg. growth/yr (14Y) 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.
+5.4%
Revenue +14.1%/yr
FY21 47.5B KRW
FY22 59.2B KRW
FY23 78.0B KRW
FY24 78.0B KRW
FY25 80.5B KRW
Net income −60.5%/yr
FY21 60.5B KRW
FY22 −7.6B KRW
FY23 664M KRW
FY24 −6.4B KRW
FY25 1.5B KRW

095270 screens 58% overvalued. Compare with Intellian Technologies, Inc →

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Cite: Fair Value Calculator (2026). "Wave Electronics Co Fair Value". https://www.fairvalue-calculator.com/stock/095270

Peer Group

Information Technology · 3403 stocks

How this stock ranks against its sector: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median. (Industry “Communications & Networking” was too small, so the broader sector is used.)

Quality Score 62 · Above median
Fair Value upside −58% · Below median
Return on assets -1% · Below median
Net margin (TTM) -1% · Below median
Operating margin (TTM) -4% · Bottom 25%
Revenue growth 108% · Top 25%
Debt / equity 0.11× · Higher than median

Valuation Multiples vs Information Technology median · lower = cheaper

P/FCF 0.0× · Cheaper than 75% of peers

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 100 · sector 38
PAST 0 · sector 22
HEALTH 94 · sector 97
DIVIDEND 0 · sector 28

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 Communications & Networking stocks, each showing price versus our Fair Value estimate (as of Jul 22, 2026).

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Ubiquoss Holdings 078070 8,160 KRW 16,320 KRW +100%
Ace Technologies corp. 088800 1,655 KRW 1,562 KRW -6%
Telefield Inc 091440 2,915 KRW 796.09 KRW -73%
Kaonmedia Co 078890 3,600 KRW 7,816 KRW +117%
Nable Communications, Inc 153460 5,940 KRW 5,093 KRW -14%
BG T&A Co 046310 2,245 KRW 6,038 KRW +169%

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Frequently asked questions

Is Wave Electronics Co (095270) overvalued or undervalued?
As of Jul 22, 2026, our model estimates a fair value of 1,966 KRW versus a price of 4,640 KRW, about −58% (overvalued).
What is the fair value of 095270?
Our model-based fair value for Wave Electronics Co is 1,966 KRW (as of Jul 22, 2026), built from audited fundamentals. The current price is 4,640 KRW.
What is the quality score of 095270?
Wave Electronics Co has a Quality Score of 62/100. 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 Wave Electronics Co (095270)?
Wave Electronics Co reported trailing-twelve-month revenue of about 51.0B KRW (latest available figure, as of Jul 22, 2026).
What is the net profit margin of 095270?
The net profit margin of Wave Electronics Co is about -1.3%, meaning it is currently running at a net loss. Based on the latest reported figures.

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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