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iMarketKorea Inc (122900) Fair Value & Analysis

Industrials · KR · Market cap 230B KRW

II iMarketKorea Inc 122900 · KO
Price8,080 KRW
Fair Value11,317 KRW
Upside+40.1%
Quality55/100
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Weak Growth
Thin margins · 0.9% net margin
Low debt · generates free cash flow
5.55% dividend yield
Ranks above peers (7/10)
Narrow moat 31/100
Evidence: Medium Range 8,488 KRW – 14,146 KRW Share as image

Fair value as of: Jul 24, 2026

From 22 valuation models · updated 17 days ago

Share price +11.0% over the past month.

A solid business, screening 40% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (8,488 KRW). The market is more pessimistic than our downside scenario.
  • Solid quality (55/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

9,978 KRW 6,314 KRW Fair Value 11,317 KRW Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 24, 2026.

How to read this chart

60‑month range 6,314 KRW – 9,978 KRW · fair‑value band 8,488 KRW – 14,146 KRW · the 8,080 KRW price screens below the 11,317 KRW fair value. Dashed = 300-day average. As of Jul 24, 2026.

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Analysis

iMarketKorea Inc (122900) currently trades at 8,080 KRW, while our model-based Fair Value estimate is 11,317 KRW, implying the stock looks roughly 40.1% undervalued today. The Quality Score stands at 55/100 (solid quality), in the Industrials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.

Over the trailing twelve months, iMarketKorea Inc generated revenue of 3.1T KRW at a net margin of 0.9%. Revenue grew 12.7% year over year. It earns a return on equity of 9.3%. Net debt stands at 4.1B KRW. Fundamentals as of Jul 24, 2026

Our scenario range runs from 8,488 KRW (bear case) to 14,146 KRW (bull case); at 8,080 KRW, the current price sits below 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 20% below its 52-week high and 16% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -35% fair-value upside, at 40%, 122900 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 14,952 KRW 19,269 KRW 26,952 KRW 80
Residual Income 9,330 KRW 9,619 KRW 9,755 KRW 76
Rev-Margin DCF 11,273 KRW 14,268 KRW 18,003 KRW 74
All 22 models by family
DCF Models
FCF DCF 14,418 KRW 18,826 KRW 27,311 KRW 38
Owner Earnings 12,234 KRW 15,717 KRW 22,421 KRW 31
5Y Revenue Exit 11,273 KRW 14,032 KRW 18,030 KRW 39
5Y EBITDA Exit 15,427 KRW 21,225 KRW 28,908 KRW 41
5Y P/E Exit 13,512 KRW 17,909 KRW 23,171 KRW 38
10Y Revenue Exit 12,217 KRW 14,420 KRW 16,727 KRW 36
10Y EBITDA Exit 14,958 KRW 18,972 KRW 23,263 KRW 37
10Y P/E Exit 13,769 KRW 16,873 KRW 19,816 KRW 35
Earnings-Based
Graham-Dodd 4,527 KRW 5,533 KRW 6,224 KRW 54
EPV 7,898 KRW 8,584 KRW 9,194 KRW 59
Multiples
P/E Multiple 10,485 KRW 13,980 KRW 17,475 KRW 63
P/S Multiple 8,488 KRW 11,317 KRW 14,146 KRW 58
P/B Multiple 8,488 KRW 11,317 KRW 14,146 KRW 55
EV/EBIT 12,282 KRW 15,039 KRW 17,797 KRW 53
EV/EBITDA 18,054 KRW 22,735 KRW 27,416 KRW 54
EV/Revenue 9,914 KRW 12,444 KRW 14,974 KRW 43
Asset-Based
NCAV (Graham) 5,879 KRW 7,878 KRW 11,758 KRW 50
Growth DCF
Growth DCF 14,952 KRW 19,269 KRW 26,952 KRW 80
Rev-Margin DCF 11,273 KRW 14,268 KRW 18,003 KRW 74
Economic Profit
Residual Income 9,330 KRW 9,619 KRW 9,755 KRW 76
ROIC Compounder 7,898 KRW 8,584 KRW 9,194 KRW 72
Growth Earnings
Growth-Adj P/E 7,404 KRW 10,577 KRW 13,750 KRW 68

Widest divergence: DCF Models (16,873 KRW) versus Earnings-Based (5,533 KRW). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 3.1T KRW
Revenue growth (YoY) +12.7%
Net margin 0.9%
Return on equity 9.3%
Free cash flow 32.0B KRW FY2025
Operating margin 2.0%
More key figures
Dividend yield 5.6%
EPS growth (YoY) +369%
Net debt 4.1B KRW FY2024

Figures from reported company fundamentals · as of Jul 24, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 55/100

Of which business quality 54 · Market factors (momentum, volatility) 54

Profitability 39
Margins and returns on capital today
Quality Growth 29
Are margins and returns improving?
Cashflow 46
Earnings quality: real cash, not paper profit
Fin. Strength 57
Balance sheet, leverage, solvency risk
Investment 92
Disciplined investing over empire-building
Low Volatility 94
Calm price path (market factor)
Momentum 40
Price trend over the last 3–12 months (market factor)
52W Momentum 34
Distance to the 52-week high (market factor)
Net Issuance 82
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

iMarketKorea Inc. operates as an industrial material distribution service company in South Korea and internationally. It offers procurement/purchasing outsourcing, consulting, and strategic procurement system; B2B auction services; export, local sourcing, and global sourcing network services; industrial product and materials, construction materials, and IT …

Full company description

iMarketKorea Inc. operates as an industrial material distribution service company in South Korea and internationally. It offers procurement/purchasing outsourcing, consulting, and strategic procurement system; B2B auction services; export, local sourcing, and global sourcing network services; industrial product and materials, construction materials, and IT distribution services; and pharmaceutical and medical care supplies distribution services, as well as operates an online shopping mall. The company was founded in 2000 and is headquartered in Seoul, South Korea.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

iMarketKorea Inc reported revenue of 3.1T KRW in FY2025 versus 3.1T KRW in FY2021, a compound −0.6%/yr. Reported net income was 20.9B KRW in FY2025, compounding −13.9%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
3.1T KRW
Latest YoY
−8.0%
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.
−5.2%
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.
+1.5%
Avg. growth/yr (13Y) 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.
+3.1%
Revenue −0.6%/yr
FY21 3.1T KRW
FY22 3.6T KRW
FY23 3.4T KRW
FY24 3.3T KRW
FY25 3.1T KRW
Net income −13.9%/yr
FY21 38.2B KRW
FY22 22.2B KRW
FY23 15.1B KRW
FY24 27.0B KRW
FY25 20.9B KRW

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Cite: Fair Value Calculator (2026). "iMarketKorea Inc Fair Value". https://www.fairvalue-calculator.com/stock/122900

Peer Group

Specialty Business Services · 253 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 55 · Above median
Fair Value upside +40% · Top 25%
Return on equity (TTM) 9% · Above median
Return on assets 1% · Below median
Net margin (TTM) 1% · Below median
Operating margin (TTM) 2% · Below median
Revenue growth 13% · Above median
Dividend yield (TTM) 5.6% · Top 25%
Debt / equity 0.05× · Lower than median

Valuation Multiples vs Specialty Business Services 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 87 · sector 24
FUTURE 64 · sector 27
PAST 37 · sector 33
HEALTH 98 · sector 92
DIVIDEND 100 · sector 54

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 Specialty Business Services stocks, each showing price versus our Fair Value estimate (as of Jul 24, 2026).

Stock Price Fair Value vs Fair Value
Cintas Corporation CTAS $206.25 $95.30 -54%
RELX PLC RELX $33.70 $32.49 -4%
Thomson Reuters Corporation TRI C$133.87 C$70.40 -47%
Copart, Inc CPRT $27.61 $28.59 +4%
Global Payments Inc GPN $80.49 $69.67 -13%
RB Global, Inc RBA C$156.43 C$49.14 -69%
Brambles Limited BXB A$18.79 A$12.28 -35%
UL Solutions Inc ULS $87.76 $33.62 -62%
Wolters Kluwer N.V WKL €62.56 €103.99 +66%
Aramark ARMK $56.74 $13.73 -76%

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Frequently asked questions

Is iMarketKorea Inc (122900) overvalued or undervalued?
As of Jul 24, 2026, our model estimates a fair value of 11,317 KRW versus a price of 8,080 KRW, about +40% (undervalued).
What is the fair value of 122900?
Our model-based fair value for iMarketKorea Inc is 11,317 KRW (as of Jul 24, 2026), built from audited fundamentals. The current price is 8,080 KRW.
What is the quality score of 122900?
iMarketKorea Inc has a Quality Score of 55/100. 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 iMarketKorea Inc (122900)?
iMarketKorea Inc reported trailing-twelve-month revenue of about 3.1T KRW (latest available figure, as of Jul 24, 2026).
What is the net profit margin of 122900?
The net profit margin of iMarketKorea Inc is about 0.9%, meaning it keeps roughly 0.9% of revenue as net income. Based on the latest reported figures.
Does iMarketKorea Inc pay a dividend?
iMarketKorea Inc currently shows a dividend yield of about 5.17% relative to its recent price (as of Jul 24, 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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