Itcen Co. Ltd (124500) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Itcen Co. Ltd KRW 89,250, price KRW 29,750, upside +200.0%, quality 58 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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ITCENGLOBAL CO., Ltd. engages in the provision of consulting, ICT, and outsourcing services and solutions in South Korea. It offers rental; wholesale and retail of gold and other precious metals; and Cloud, AI, IT Consulting, and Implementation. In addition, the company provides IT services for the public, financial, education, and enterprise sectors.
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ITCENGLOBAL CO., Ltd. engages in the provision of consulting, ICT, and outsourcing services and solutions in South Korea. It offers rental; wholesale and retail of gold and other precious metals; and Cloud, AI, IT Consulting, and Implementation. In addition, the company provides IT services for the public, financial, education, and enterprise sectors. The company was formerly known as Itcen Co., Ltd. and changed its name to ITCENGLOBAL CO., Ltd. in April 2025. ITCENGLOBAL CO., Ltd. was founded in 2005 and is based in Seoul, South Korea.
Stock analysis
Itcen Co. Ltd (124500) currently trades at 29,750 KRW, while our model-based Fair Value estimate is 89,250 KRW, implying the stock looks roughly 66.7% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of 221,798 KRW per share, and 22 of the 24 models we run sit above the 29,750 KRW price.
Bear case: the Economic Profit group reads lowest at 18,569 KRW, and 2 of the 24 models stay below the price. Evidence for this calculation is low.
Scenario range: 62,475 KRW (bear) to 116,025 KRW (bull), the price of 29,750 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 58/100 (solid quality), in the Technology sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Itcen Co. Ltd reported revenue of 8.9T KRW in FY2025 versus 3.3T KRW in FY2021, a compound +28.2%/yr. Reported net income was 46.6B KRW in FY2025.
Key figures
Market cap 690B KRW (≈ $507M) · P/S ratio 0.05 · Dividend yield 4.2% · Net margin 0.5% · Return on equity 53.7% · Return on assets (EBIT) 6.2% · Operating margin 3.0% · Revenue (TTM) 10.5T KRW.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).
What moves the price
The share trades about 59% below its 52-week high and 83% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at 53% fair-value upside, at 200%, 124500 screens cheaper than that median.
Fair Value models
Bear 62,475 KRWFair Value 89,250 KRWBull 116,025 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.90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+78.8%
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.
+50.1%
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.
+31.3%
Start year 2020 (pandemic). Over 10 years: +49.2% 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.
+38.9%
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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.
+50.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year+46.1%
Dividend (yield on the price)4.2%
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.1% → 3%
2025 sits 2,257% 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
The price assumes less growth than the company has delivered so far.
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).
−15.2%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (South Korea: IMF forecast 2.1% a year to 2030, 2.1% from 2016 to 2025) that is about −16.9% a year for the 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.Information Technology Services · 498 stocks
Beats the industry median on 7/10 measures
Overall it ranks above its industry peers.
Valuation
Quality Score58 · Above median
Fair Value upside+200% · Top 25%
Profitability
Return on equity (TTM)54% · Top 25%
Return on assets17% · Top 25%
Net margin (TTM)1% · Below median
Operating margin (TTM)3% · Below median
Growth and dividend
Revenue growth101% · Top 25%
Dividend yield (TTM)4.2% · Top 25%
Balance sheet
Debt / equity0.16× · Above median
Valuation Multiplesvs Information Technology Services median · lower = cheaper
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Is Itcen Co. Ltd (124500) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 89,250 KRW versus a price of 29,750 KRW, about +200% upside (undervalued).
What is the fair value of 124500?
Our model-based fair value for Itcen Co. Ltd is 89,250 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 29,750 KRW.
What is the quality score of 124500?
Itcen Co. Ltd has a Quality Score of 58/100. 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 Itcen Co. Ltd (124500)?
Our model-based price target is the fair value of 89,250 KRW (as of Sep 24, 2026) from 24 valuation models. Cautious scenario 62,475 KRW, optimistic scenario 116,025 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Itcen Co. Ltd stock forecast for 2026?
Our models put fair value at 89,250 KRW, about +200% upside versus a price of 29,750 KRW (undervalued). Cautious scenario 62,475 KRW, optimistic scenario 116,025 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Itcen Co. Ltd (124500)?
Itcen Co. Ltd reported trailing-twelve-month revenue of about 10.5T KRW (latest available figure, as of Sep 24, 2026).
Does Itcen Co. Ltd pay a dividend?
Itcen Co. Ltd currently shows a dividend yield of about 4.19% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Itcen Co. Ltd (124500)?
For today's price to be fair in a discounted-cash-flow model, Itcen Co. Ltd would have to grow free cash flow by -15.2 % per year for five years (discount rate 14.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +31.3 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 124500 use?
Our models discount Itcen Co. Ltd at 14.1 %: a base by market capitalisation (small), damped by beta 1.87, 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 Itcen Co. Ltd that is -15.2 % per year a year over ten years, using the same discount rate (14.1 %) and the same formula as our fair value.
How much growth has Itcen Co. Ltd (124500) delivered so far?
Over the past 5 years revenue at Itcen Co. Ltd grew +31.3 % a year. The price currently implies -15.2 % 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 Itcen Co. Ltd (124500) growing?
The median revenue growth in the sector is +8.2 % a year. That is the yardstick for the growth priced into Itcen Co. Ltd (-15.2 % 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 Itcen Co. Ltd (124500)?
The free-cash-flow yield on the price is 29.83 %: that much free cash flow Itcen Co. Ltd produces per unit of market value. When it exceeds the discount rate of our models (14.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Itcen Co. Ltd (124500)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Itcen Co. Ltd it is 89,250 KRW per share (as of Sep 24, 2026), against a price of 29,750 KRW. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Itcen Co. Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 124500 trades below its calculated fair value: price 29,750 KRW, fair value 89,250 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 124500?
No. The price is what the market pays today (29,750 KRW); the fair value is what the company's own numbers justify (89,250 KRW). For Itcen Co. Ltd the two are 59,500 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Itcen Co. Ltd worth?
The market values Itcen Co. Ltd at about 690B KRW (market capitalisation, as of Sep 24, 2026). Per share that is 29,750 KRW; our models calculate a fair value of 89,250 KRW per share.
What do the bullish and bearish scenarios say about 124500?
Our models span a range for Itcen Co. Ltd: cautious scenario 62,475 KRW, base 89,250 KRW, optimistic 116,025 KRW per share (as of Sep 24, 2026, price 29,750 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Itcen Co. Ltd (124500)?
Balance-sheet figures for Itcen Co. Ltd (as of Sep 24, 2026): return on equity 53.7%, debt of 0.16 per unit of equity. They feed the Quality Score of 58/100, which measures business quality independently of the share price.
How far is 124500 from its 52-week high?
Itcen Co. Ltd trades at 29,750 KRW, about 59% below its 52-week high of 71,900 KRW and 83% above the low of 16,260 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 89,250 KRW is for.
Which stocks are comparable to Itcen Co. Ltd?
From the same area (Technology) we also value International Business Machines Corporation, Accenture plc, Tata Consultancy Services Limited, Infosys Limited, 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 Itcen Co. Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price 29,750 KRW, calculated fair value 89,250 KRW (+200%), Quality Score 58/100, 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 124500 calculated?
We run Itcen 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 89,250 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 14.0 % above its aggregate fair value. Itcen 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 Itcen Co. Ltd (124500)?
The closing price on Sep 23, 2026 was 29,750 KRW. Our model-based fair value is 89,250 KRW, about +200% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Itcen Co. Ltd right now?
The price is below even our cautious bear case (62,475 KRW). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (58/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (62,475 KRW to 116,025 KRW) leaves room in how you read the outcome.
Key figures of Itcen Co. Ltd
How large is the market capitalisation of Itcen Co. Ltd (124500)?
The market capitalisation of Itcen Co. Ltd is 690B KRW (≈ $507M). 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 Itcen Co. Ltd (124500)?
The price-to-sales ratio of Itcen Co. Ltd is 0.05 (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 Itcen Co. Ltd (124500)?
The dividend yield of Itcen Co. Ltd is 4.2%. 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 Itcen Co. Ltd (124500)?
The net margin of Itcen Co. Ltd is 0.5% (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 Itcen Co. Ltd (124500)?
The return on equity (ROE) of Itcen Co. Ltd is 53.7% (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 Itcen Co. Ltd (124500)?
On an EBIT basis the return on assets of Itcen Co. Ltd is 6.2% (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 Itcen Co. Ltd (124500)?
The operating margin of Itcen Co. Ltd is 3.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Itcen Co. Ltd (124500)?
Revenue at Itcen Co. Ltd is growing +101% versus a year earlier (3y avg +50.1%). 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 Itcen Co. Ltd (124500)?
Earnings per share at Itcen Co. Ltd are growing +141% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Itcen Co. Ltd (124500) carry?
The net debt of Itcen Co. Ltd is 26.9B KRW (fiscal year 2024, ≈ 0.1 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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