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Mercury Corporation (100590) Fair Value & Analysis

Technology · KR · Market cap 50.2B KRW

MC Mercury Corporation 100590 · KQ
Price3,755 KRW
Fair Value1,196 KRW
Upside-68.2%
Quality48/100
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Weak Growth
Thin margins · 0.9% net margin
Low debt · generates free cash flow
Trails peers (3/9)
Narrow moat 20/100
Evidence: Medium Range 783.03 KRW – 1,609 KRW Share as image

Fair value as of: Jul 22, 2026

From 10 valuation models · updated 19 days ago

Share price +4.0% over the past month.

Below-average quality, and screening another 68% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (1,609 KRW). The favourable scenario is already priced in.
  • Solid but not exceptional quality (48/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (783.03 KRW to 1,609 KRW) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

11,320 KRW 2,530 KRW Fair Value 1,196 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 2,530 KRW – 11,320 KRW · fair‑value band 783.03 KRW – 1,609 KRW · the 3,755 KRW price screens above the 1,196 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.

Full chart & analysis →

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Analysis

Mercury Corporation (100590) currently trades at 3,755 KRW, while our model-based Fair Value estimate is 1,196 KRW, implying the stock looks roughly 68.2% overvalued today. The Quality Score stands at 48/100 (below-average 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: medium).

Over the trailing twelve months, Mercury Corporation generated revenue of 128B KRW at a net margin of 0.9%. Revenue grew 20.9% year over year. It earns a return on equity of 1.0%. Net debt stands at 7.2B KRW. Fundamentals as of Jul 22, 2026

Our scenario range runs from 783.03 KRW (bear case) to 1,609 KRW (bull case); at 3,755 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 71% below its 52-week high and 25% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -61% fair-value upside, at -68%, 100590 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 7,357 KRW 9,700 KRW 13,708 KRW 80
Rev-Margin DCF 6,536 KRW 9,216 KRW 12,508 KRW 74
EV/EBITDA 2,163 KRW 2,576 KRW 2,989 KRW 54
All 10 models by family
DCF Models
FCF DCF 7,071 KRW 9,485 KRW 13,955 KRW 38
5Y Revenue Exit 6,536 KRW 9,072 KRW 12,758 KRW 39
5Y EBITDA Exit 3,943 KRW 4,583 KRW 5,433 KRW 41
10Y Revenue Exit 6,546 KRW 8,457 KRW 10,501 KRW 36
10Y EBITDA Exit 5,124 KRW 5,681 KRW 6,202 KRW 37
Multiples
EV/EBITDA 2,163 KRW 2,576 KRW 2,989 KRW 54
EV/Revenue 6,680 KRW 9,147 KRW 11,615 KRW 43
Asset-Based
NCAV (Graham) 4,449 KRW 5,961 KRW 8,897 KRW 50
Growth DCF
Growth DCF 7,357 KRW 9,700 KRW 13,708 KRW 80
Rev-Margin DCF 6,536 KRW 9,216 KRW 12,508 KRW 74

Widest divergence: Growth DCF (9,216 KRW) versus Multiples (2,576 KRW). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 128B KRW
Revenue growth (YoY) +20.9%
Net margin 0.9%
Return on equity 1.0%
Free cash flow 10.0B KRW FY2025
Operating margin -4.5%
More key figures
EPS growth (YoY) +72.3%
Net debt 7.2B KRW FY2023

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

Quality Score breakdown

Overall quality 48/100

Of which business quality 51 · Market factors (momentum, volatility) 36

Profitability 19
Margins and returns on capital today
Quality Growth 28
Are margins and returns improving?
Cashflow 59
Earnings quality: real cash, not paper profit
Fin. Strength 71
Balance sheet, leverage, solvency risk
Investment 59
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 31
Price trend over the last 3–12 months (market factor)
52W Momentum 27
Distance to the 52-week high (market factor)
Net Issuance 75
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

Mercury Corporation manufactures and markets communications equipment and optical fiber cables in Korea. It offers access, TDX exchanger/gateway equipment, transmission/satellite equipment, smart IOT room management system, electric motorcycle, and battery station related products. The company was founded in 1983 and is headquartered in Incheon, South Korea.

Full company description

Mercury Corporation manufactures and markets communications equipment and optical fiber cables in Korea. It offers access, TDX exchanger/gateway equipment, transmission/satellite equipment, smart IOT room management system, electric motorcycle, and battery station related products. The company was founded in 1983 and is headquartered in Incheon, South Korea. Mercury Corporation operates as a subsidiary of Eyesvision Corp.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Mercury Corporation reported revenue of 124B KRW in FY2025 versus 122B KRW in FY2021, a compound +0.5%/yr. Reported net income was −2.5B KRW in FY2025.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
124B KRW
Latest YoY
−7.8%
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.
−8.8%
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.
+1.0%
Avg. growth/yr (9Y) 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.
+0.3%
Revenue +0.5%/yr
FY21 122B KRW
FY22 163B KRW
FY23 154B KRW
FY24 134B KRW
FY25 124B KRW
Net income
FY21 5.7B KRW
FY22 535M KRW
FY23 4.0B KRW
FY24 −1.1B KRW
FY25 −2.5B KRW

100590 screens 68% overvalued. Compare with Cisco Systems, Inc →

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Cite: Fair Value Calculator (2026). "Mercury Corporation Fair Value". https://www.fairvalue-calculator.com/stock/100590

Peer Group

Communication Equipment · 286 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 48 · Below median
Fair Value upside −68% · Below median
Return on equity (TTM) 1% · Below median
Return on assets -1% · Below median
Net margin (TTM) 1% · Below median
Operating margin (TTM) -4% · Bottom 25%
Revenue growth 21% · Above median
Debt / equity 0.03× · Lower than median

Valuation Multiples vs Communication Equipment 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 30
PAST 4 · sector 15
HEALTH 99 · sector 98
DIVIDEND 0 · sector 25

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 Communication Equipment stocks, each showing price versus our Fair Value estimate (as of Jul 22, 2026).

Stock Price Fair Value vs Fair Value
Cisco Systems, Inc CSCO $119.25 $43.05 -64%
Zhongji Innolight Co 300308 ¥1,094 ¥171.09 -84%
Foxconn Industrial Internet Co 601138 ¥56.50 ¥28.65 -49%
Eoptolink Technology Inc 300502 ¥482.88 ¥155.05 -68%
Nokia Oyj NOK $11.25 $2.67 -76%
Motorola Solutions, Inc MSI $413.31 $190.43 -54%
Suzhou TFC Optical Communication Co 300394 ¥244.13 ¥32.04 -87%
Telefonaktiebolaget LM Ericsson (publ), ERIC $11.72 $15.96 +36%
Accton Technology Corporation 2345 2,090 TWD 846.28 TWD -60%
ZTE Corporation 000063 ¥40.00 ¥15.75 -61%

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Frequently asked questions

Is Mercury Corporation (100590) overvalued or undervalued?
As of Jul 22, 2026, our model estimates a fair value of 1,196 KRW versus a price of 3,755 KRW, about −68% (overvalued).
What is the fair value of 100590?
Our model-based fair value for Mercury Corporation is 1,196 KRW (as of Jul 22, 2026), built from audited fundamentals. The current price is 3,755 KRW.
What is the quality score of 100590?
Mercury Corporation has a Quality Score of 48/100. 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 Mercury Corporation (100590)?
Mercury Corporation reported trailing-twelve-month revenue of about 128B KRW (latest available figure, as of Jul 22, 2026).
What is the net profit margin of 100590?
The net profit margin of Mercury Corporation is about 0.9%, meaning it keeps roughly 0.9% of revenue as net income. 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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