WINS Co. Ltd (136540) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of WINS Co. Ltd KRW 26,167, price KRW 10,750, upside +143.4%, quality 72 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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WINS Technet Co., Ltd. provides information security solutions and services in South Korea.
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WINS Technet Co., Ltd. provides information security solutions and services in South Korea. The company offers SNIPER ONE-i, an intelligent intrusion prevention system; SNIPER NGFW, a smart next-generation firewall; SNIPER ONE-d, a DDoS response system; SNIPER AP, a sand box-based APT response system; SNIPER TMS-Plus, information security management solutions; and SNIPER BD1 AI Plus, an integrated solution. It also provides managed security, security management, information security intelligence, emergency response, security consulting, maintenance, security SI, troubleshooting, and technology training services. In addition, the company offers cloud security, consulting, and managed security services. The company was formerly known as WINS Co., Ltd. and changed its name to WINS Technet Co., Ltd. in April 2025. WINS Technet Co., Ltd. was founded in 1996 and is headquartered in Seongnam-si, South Korea.
Stock analysis
WINS Co. Ltd (136540) currently trades at 10,750 KRW, while our model-based Fair Value estimate is 26,167 KRW, implying the stock looks roughly 58.9% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 37,818 KRW per share, and 22 of the 23 models we run sit above the 10,750 KRW price.
Bear case: the Asset-Based group reads lowest at 11,591 KRW, and 1 of the 23 models stay below the price. Evidence for this calculation is medium.
Scenario range: 17,822 KRW (bear) to 36,315 KRW (bull), the price of 10,750 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 72/100 (solid quality), in the Technology sector.
Weak Growth: Growth has flattened: the last year, three and five years all grew more slowly than the long-term average.
WINS Co. Ltd reported revenue of 98.6B KRW in FY2025 versus 96.4B KRW in FY2021, a compound +0.6%/yr. Reported net income was 18.4B KRW in FY2025, compounding 0.0%/yr from FY2021.
Key figures
Market cap 116B KRW (≈ $85.3M) · P/S ratio 1.12 · Dividend yield 7.4% · Net margin 18.7% · Return on equity 10.1% · Return on assets (EBIT) 10.4% · Operating margin 9.9% · Revenue (TTM) 98.2B KRW.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (low confidence).
What moves the price
The share trades about 18% below its 52-week high and 8% 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 143%, 136540 screens cheaper than that median.
Fair Value models
Bear 17,822 KRWFair Value 26,167 KRWBull 36,315 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
Growth has flattened: the last year, three and five years all grew more slowly than the long-term average.
Revenue growth 1 year
−2.8%
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.
−0.9%
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.
+1.0%
Start year 2020 (pandemic). Over 10 years: +4.3% a year
Revenue growth 14 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.
+6.3%
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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. 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.
+10.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+3.0%
Dividend (yield on the price)7.4%
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.3% vs 8%, slowing
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.20% → 22%
Start year 2020 (pandemic)
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.Information Technology Services · 498 stocks
Beats the industry median on 8/9 measures
Overall it ranks above its industry peers.
Valuation
Quality Score72 · Top 25%
Fair Value upside+143% · Top 25%
Profitability
Return on equity (TTM)10% · Above median
Return on assets6% · Above median
Net margin (TTM)18% · Top 25%
Operating margin (TTM)10% · Above median
Growth and dividend
Revenue growth−2% · Below median
Dividend yield (TTM)7.4% · Top 25%
Valuation Multiplesvs Information Technology Services median · lower = cheaper
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Is WINS Co. Ltd (136540) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 26,167 KRW versus a price of 10,750 KRW, about +143% upside (undervalued).
What is the fair value of 136540?
Our model-based fair value for WINS Co. Ltd is 26,167 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 10,750 KRW.
What is the quality score of 136540?
WINS Co. Ltd has a Quality Score of 72/100. 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 WINS Co. Ltd (136540)?
Our model-based price target is the fair value of 26,167 KRW (as of Sep 24, 2026) from 23 valuation models. Cautious scenario 17,822 KRW, optimistic scenario 36,315 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the WINS Co. Ltd stock forecast for 2026?
Our models put fair value at 26,167 KRW, about +143% upside versus a price of 10,750 KRW (undervalued). Cautious scenario 17,822 KRW, optimistic scenario 36,315 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of WINS Co. Ltd (136540)?
WINS Co. Ltd reported trailing-twelve-month revenue of about 98.2B KRW (latest available figure, as of Sep 24, 2026).
Does WINS Co. Ltd pay a dividend?
WINS Co. Ltd currently shows a dividend yield of about 7.44% relative to its recent price (as of Sep 24, 2026).
What growth is priced into WINS Co. Ltd (136540)?
For today's price to be fair in a discounted-cash-flow model, WINS Co. Ltd would have to grow free cash flow by less than minus 40 % per year for five years (discount rate 11.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +1.0 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 136540 use?
Our models discount WINS Co. Ltd at 11.6 %: a base by market capitalisation (micro), damped by beta 0.30, 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 WINS Co. Ltd that is less than minus 40 % per year a year over ten years, using the same discount rate (11.6 %) and the same formula as our fair value.
How much growth has WINS Co. Ltd (136540) delivered so far?
Over the past 5 years revenue at WINS Co. Ltd grew +1.0 % 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 WINS Co. Ltd (136540) growing?
The median revenue growth in the sector is +8.2 % a year. That is the yardstick for the growth priced into WINS 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 WINS Co. Ltd (136540)?
The free-cash-flow yield on the price is 13.16 %: that much free cash flow WINS Co. Ltd produces per unit of market value. When it exceeds the discount rate of our models (11.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of WINS Co. Ltd (136540)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For WINS Co. Ltd it is 26,167 KRW per share (as of Sep 24, 2026), against a price of 10,750 KRW. It is the blended result of 23 valuation models (cash flow, earnings, asset, dividend).
Is WINS Co. Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 136540 trades below its calculated fair value: price 10,750 KRW, fair value 26,167 KRW, a gap of about +143% (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 136540?
No. The price is what the market pays today (10,750 KRW); the fair value is what the company's own numbers justify (26,167 KRW). For WINS Co. Ltd the two are 15,417 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is WINS Co. Ltd worth?
The market values WINS Co. Ltd at about 116B KRW (market capitalisation, as of Sep 24, 2026). Per share that is 10,750 KRW; our models calculate a fair value of 26,167 KRW per share.
What do the bullish and bearish scenarios say about 136540?
Our models span a range for WINS Co. Ltd: cautious scenario 17,822 KRW, base 26,167 KRW, optimistic 36,315 KRW per share (as of Sep 24, 2026, price 10,750 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of WINS Co. Ltd (136540)?
Balance-sheet figures for WINS Co. Ltd (as of Sep 24, 2026): return on equity 10.1%. They feed the Quality Score of 72/100, which measures business quality independently of the share price.
How far is 136540 from its 52-week high?
WINS Co. Ltd trades at 10,750 KRW, about 18% below its 52-week high of 13,050 KRW and 8% above the low of 9,960 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 26,167 KRW is for.
Which stocks are comparable to WINS 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 WINS Co. Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price 10,750 KRW, calculated fair value 26,167 KRW (+143%), Quality Score 72/100, from 23 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 136540 calculated?
We run WINS Co. Ltd through 23 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 26,167 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. WINS Co. Ltd currently trades 143 % 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 WINS Co. Ltd (136540)?
The closing price on Sep 23, 2026 was 10,750 KRW. Our model-based fair value is 26,167 KRW, about +143% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with WINS Co. Ltd right now?
The rarer combination: high quality (72/100) AND below fair value. That earns a closer look rather than a quick verdict. The price is below even our cautious bear case (17,822 KRW). The market is more pessimistic than our downside scenario. A fairly wide model range (17,822 KRW to 36,315 KRW) leaves room in how you read the outcome.
Key figures of WINS Co. Ltd
How large is the market capitalisation of WINS Co. Ltd (136540)?
The market capitalisation of WINS Co. Ltd is 116B KRW (≈ $85.3M). 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 WINS Co. Ltd (136540)?
The price-to-sales ratio of WINS Co. Ltd is 1.12 (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 WINS Co. Ltd (136540)?
The dividend yield of WINS Co. Ltd is 7.4%. 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 WINS Co. Ltd (136540)?
The net margin of WINS Co. Ltd is 18.7% (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 WINS Co. Ltd (136540)?
The return on equity (ROE) of WINS Co. Ltd is 10.1% (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 WINS Co. Ltd (136540)?
On an EBIT basis the return on assets of WINS Co. Ltd is 10.4% (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 WINS Co. Ltd (136540)?
The operating margin of WINS Co. Ltd is 9.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at WINS Co. Ltd (136540)?
Revenue at WINS Co. Ltd is growing −2.4% versus a year earlier (3y avg −0.9%). 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 WINS Co. Ltd (136540)?
Earnings per share at WINS Co. Ltd are growing −19.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does WINS Co. Ltd (136540) carry?
The net debt of WINS Co. Ltd is 12.7B KRW (fiscal year 2019, ≈ 0.8 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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