Secuve Co. Ltd (131090) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Secuve Co. Ltd KRW 12,273, price KRW 4,320, upside +184.1%, quality 81 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range 3,470 KRW – 7,115 KRW · fair‑value band 8,874 KRW – 16,737 KRW · the 4,320 KRW price screens below the 12,273 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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Secuve Co., Ltd. provides information security solutions primarily in South Korea.
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Secuve Co., Ltd. provides information security solutions primarily in South Korea. It offers iGRIFFIN, an integrated account authority management technology; LogGRIFFIN, a real-time tamper-proof log storage technology; DuoGRIFFIN, a domain separation-based information leak prevention technology; CERTl, a technology to prevent illegal copying and leakage of public certificates; T/Q in Z, a mobile authentication and technology; QuickSign, a payment technology; and SecuS ign, a biometric handwritten signature and authentication technology to the financial sector, corporations, financial institutions, and public and defense sectors. Secuve Co., Ltd. was founded in 2000 and is headquartered in Seoul, South Korea.
Stock analysis
Secuve Co. Ltd (131090) currently trades at 4,320 KRW, while our model-based Fair Value estimate is 12,273 KRW, implying the stock looks roughly 64.8% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 12,875 KRW per share, and 22 of the 22 models we run sit above the 4,320 KRW price.
Bear case: the Asset-Based group reads lowest at 4,342 KRW, and 0 of the 22 models stay below the price. Evidence for this calculation is medium.
Scenario range: 8,874 KRW (bear) to 16,737 KRW (bull), the price of 4,320 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 81/100 (high quality), in the Technology sector.
Weak Growth: Revenue growth is weak: less than 2 % a year.
Secuve Co. Ltd reported revenue of 13.4B KRW in FY2025 versus 13.2B KRW in FY2021, a compound +0.5%/yr. Reported net income was 4.7B KRW in FY2025, compounding −0.8%/yr from FY2021.
Key figures
Market cap 33.1B KRW (≈ $23.1M) · P/S ratio 2.14 · Dividend yield 3.5% · Net margin 35.0% · Return on equity 11.6% · Return on assets (EBIT) 10.2% · Operating margin 37.7% · Revenue (TTM) 13.9B KRW.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 51 out of 100 (low confidence).
What moves the price
The share trades about 6% below its 52-week high and 24% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Technology peers we cover trades at −19% fair-value upside, at 184%, 131090 screens cheaper than that median.
Fair Value models
Bear 8,874 KRWFair Value 12,273 KRWBull 16,737 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.40/100
Revenue growth is weak: less than 2 % a year.
Revenue growth 1 year
+11.3%
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.
−0.6%
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.
−1.8%
Start year 2020 (pandemic). Over 10 years: −3.7% a year
Revenue growth 13 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.
−3.2%
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What shareholders gained per year (last 5 years), in KRW ⓘ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. Basis: EBIT basis. 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.
≈ +39.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year+35.8%
Dividend (yield on the price)3.5%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.39% vs 33%, picking up
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.15% → 32%
Start year 2020 (pandemic)
⚠ Rate on operating basis: 2025 sits 55% above its own trend.
Growth Forecast
Little optimism in the price
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).
less than -40 %
Yearly growth needed for the next five years to justify today's 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.Software - Infrastructure · 377 stocks
Beats the industry median on 9/10 measures
Overall it ranks above its industry peers.
Valuation
Quality Score81 · Top 25%
Fair Value upside+184% · Top 25%
Profitability
Return on equity (TTM)12% · Above median
Return on assets6% · Top 25%
Net margin (TTM)34% · Top 25%
Operating margin (TTM)38% · Top 25%
Growth and dividend
Revenue growth−1% · Bottom 25%
Dividend yield (TTM)3.5% · Above median
Balance sheet
Debt / equity0.05× · Below median
Valuation Multiplesvs Software - Infrastructure median · lower = cheaper
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Is Secuve Co. Ltd (131090) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 12,273 KRW versus a price of 4,320 KRW, about +184% upside (undervalued).
What is the fair value of 131090?
Our model-based fair value for Secuve Co. Ltd is 12,273 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 4,320 KRW.
What is the quality score of 131090?
Secuve Co. Ltd has a Quality Score of 81/100. 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 Secuve Co. Ltd (131090)?
Our model-based price target is the fair value of 12,273 KRW (as of Sep 24, 2026) from 22 valuation models. Cautious scenario 8,874 KRW, optimistic scenario 16,737 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Secuve Co. Ltd stock forecast for 2026?
Our models put fair value at 12,273 KRW, about +184% upside versus a price of 4,320 KRW (undervalued). Cautious scenario 8,874 KRW, optimistic scenario 16,737 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Secuve Co. Ltd (131090)?
Secuve Co. Ltd reported trailing-twelve-month revenue of about 13.9B KRW (latest available figure, as of Sep 24, 2026).
Does Secuve Co. Ltd pay a dividend?
Secuve Co. Ltd currently shows a dividend yield of about 3.47% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Secuve Co. Ltd (131090)?
For today's price to be fair in a discounted-cash-flow model, Secuve Co. Ltd would have to grow free cash flow by less than minus 40 % per year for five years (discount rate 8.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -1.8 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 131090 use?
Our models discount Secuve Co. Ltd at 8.9 %: a base by market capitalisation (nano), damped by beta 0.49, 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 Secuve Co. Ltd that is less than minus 40 % per year a year over ten years, using the same discount rate (8.9 %) and the same formula as our fair value.
How much growth has Secuve Co. Ltd (131090) delivered so far?
Over the past 5 years revenue at Secuve Co. Ltd grew -1.8 % a year. The price currently implies less than minus 40 % 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 Secuve Co. Ltd (131090) growing?
The median revenue growth in the sector is +8.2 % a year. That is the yardstick for the growth priced into Secuve Co. Ltd (less than minus 40 % 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 Secuve Co. Ltd (131090)?
The free-cash-flow yield on the price is 18.47 %: that much free cash flow Secuve Co. Ltd produces per unit of market value. When it exceeds the discount rate of our models (8.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Secuve Co. Ltd (131090)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Secuve Co. Ltd it is 12,273 KRW per share (as of Sep 24, 2026), against a price of 4,320 KRW. It is the blended result of 22 valuation models (cash flow, earnings, asset, dividend).
Is Secuve Co. Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 131090 trades below its calculated fair value: price 4,320 KRW, fair value 12,273 KRW, a gap of about +184% (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 131090?
No. The price is what the market pays today (4,320 KRW); the fair value is what the company's own numbers justify (12,273 KRW). For Secuve Co. Ltd the two are 7,953 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Secuve Co. Ltd worth?
The market values Secuve Co. Ltd at about 33.1B KRW (market capitalisation, as of Sep 24, 2026). Per share that is 4,320 KRW; our models calculate a fair value of 12,273 KRW per share.
What do the bullish and bearish scenarios say about 131090?
Our models span a range for Secuve Co. Ltd: cautious scenario 8,874 KRW, base 12,273 KRW, optimistic 16,737 KRW per share (as of Sep 24, 2026, price 4,320 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Secuve Co. Ltd (131090)?
Balance-sheet figures for Secuve Co. Ltd (as of Sep 24, 2026): return on equity 11.6%, debt of 0.05 per unit of equity. They feed the Quality Score of 81/100, which measures business quality independently of the share price.
How far is 131090 from its 52-week high?
Secuve Co. Ltd trades at 4,320 KRW, about 6% below its 52-week high of 4,580 KRW and 24% above the low of 3,470 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 12,273 KRW is for.
Which stocks are comparable to Secuve Co. Ltd?
From the same area (Technology) we also value Microsoft Corporation, Oracle Corporation, Palantir Technologies Inc, Palo Alto Networks, Inc, 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 Secuve Co. Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price 4,320 KRW, calculated fair value 12,273 KRW (+184%), Quality Score 81/100, from 22 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 131090 calculated?
We run Secuve Co. Ltd through 22 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 12,273 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 14.1 % above its aggregate fair value. Secuve Co. Ltd currently trades 184 % 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 Secuve Co. Ltd (131090)?
The closing price on Sep 23, 2026 was 4,320 KRW. Our model-based fair value is 12,273 KRW, about +184% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Secuve Co. Ltd right now?
The rarer combination: high quality (81/100) AND below fair value. That earns a closer look rather than a quick verdict. The price is below even our cautious bear case (8,874 KRW). The market is more pessimistic than our downside scenario. A fairly wide model range (8,874 KRW to 16,737 KRW) leaves room in how you read the outcome.
Key figures of Secuve Co. Ltd
How large is the market capitalisation of Secuve Co. Ltd (131090)?
The market capitalisation of Secuve Co. Ltd is 33.1B KRW (≈ $23.1M). 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 Secuve Co. Ltd (131090)?
The price-to-sales ratio of Secuve Co. Ltd is 2.14 (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 Secuve Co. Ltd (131090)?
The dividend yield of Secuve Co. Ltd is 3.5%. 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 Secuve Co. Ltd (131090)?
The net margin of Secuve Co. Ltd is 35.0% (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 Secuve Co. Ltd (131090)?
The return on equity (ROE) of Secuve Co. Ltd is 11.6% (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 Secuve Co. Ltd (131090)?
On an EBIT basis the return on assets of Secuve Co. Ltd is 10.2% (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 Secuve Co. Ltd (131090)?
The operating margin of Secuve Co. Ltd is 37.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Secuve Co. Ltd (131090)?
Revenue at Secuve Co. Ltd is growing −1.3% versus a year earlier (3y avg −0.6%). 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 Secuve Co. Ltd (131090)?
Earnings per share at Secuve Co. Ltd are growing −5.9% versus a year earlier. How much earnings per share grew versus a year earlier.
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