Ktop Reit (145270) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Ktop Reit KRW 1,990, price KRW 796, upside +150.0%, quality 58 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 661.63 KRW – 1,878 KRW · fair‑value band 1,157 KRW – 3,718 KRW · the 796.00 KRW price screens below the 1,990 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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K-TOP REITS co.Ltd. is a real estate investment trust. K-TOP REITS co.Ltd. is based in Seoul, South Korea.
Stock analysis
Ktop Reit (145270) currently trades at 796.00 KRW, while our model-based Fair Value estimate is 1,990 KRW, implying the stock looks roughly 60.0% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 2,765 KRW per share, and 14 of the 14 models we run sit above the 796.00 KRW price.
Bear case: the Asset-Based group reads lowest at 1,479 KRW, and 0 of the 14 models stay below the price. Evidence for this calculation is low.
Scenario range: 1,157 KRW (bear) to 3,718 KRW (bull), the price of 796.00 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 Real Estate sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Ktop Reit reported revenue of 15.1B KRW in FY2025 versus 32.0B KRW in FY2021, a compound −17.1%/yr. Reported net income was 6.2B KRW in FY2025, compounding −14.2%/yr from FY2021.
Key figures
Market cap 37.7B KRW (≈ $27.7M) · P/S ratio 4.72 · Dividend yield 8.4% · Net margin 41.2% · Return on equity 13.6% · Return on assets (EBIT) 6.4% · Operating margin −25.9% · Revenue (TTM) 8.1B KRW.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (medium confidence).
What moves the price
The share trades about 18% below its 52-week high and 9% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at 1% fair-value upside, at 150%, 145270 screens cheaper than that median.
Fair Value models
Bear 1,157 KRWFair Value 1,990 KRWBull 3,718 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 inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+24.8%
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.
−11.3%
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.
−6.6%
Start year 2020 (pandemic)
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.
+21.5%
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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.
−3.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year−11.4%
Dividend (yield on the price)8.4%
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.80% → 70%
Growth Forecast
A lot of optimism in the price
The price assumes more 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).
+25.4%
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 +22.9% 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.REIT - Diversified · 155 stocks
Beats the industry median on 9/11 measures
Overall it ranks above its industry peers.
Valuation
Quality Score60 · Above median
Fair Value upside+150% · Top 25%
Profitability
Return on equity (TTM)14% · Top 25%
Return on assets7% · Top 25%
Net margin (TTM)49% · Above median
Operating margin (TTM)−26% · Bottom 25%
Growth and dividend
Revenue growth−18% · Bottom 25%
Dividend yield (TTM)8.4% · Top 25%
Balance sheet
Debt / equity0.23× · Lowest 25%
Valuation Multiplesvs REIT - Diversified median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Ktop Reit Fair Value". https://www.fairvalue-calculator.com/stock/145270
Frequently asked questions
Is Ktop Reit (145270) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 1,990 KRW versus a price of 796.00 KRW, about +150% upside (undervalued).
What is the fair value of 145270?
Our model-based fair value for Ktop Reit is 1,990 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 796.00 KRW.
What is the quality score of 145270?
Ktop Reit 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 Ktop Reit (145270)?
Our model-based price target is the fair value of 1,990 KRW (as of Sep 24, 2026) from 14 valuation models. Cautious scenario 1,157 KRW, optimistic scenario 3,718 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Ktop Reit stock forecast for 2026?
Our models put fair value at 1,990 KRW, about +150% upside versus a price of 796.00 KRW (undervalued). Cautious scenario 1,157 KRW, optimistic scenario 3,718 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Ktop Reit (145270)?
Ktop Reit reported trailing-twelve-month revenue of about 8.1B KRW (latest available figure, as of Sep 24, 2026).
Does Ktop Reit pay a dividend?
Ktop Reit currently shows a dividend yield of about 8.45% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Ktop Reit (145270)?
For today's price to be fair in a discounted-cash-flow model, Ktop Reit would have to grow free cash flow by +25.4 % 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 -6.6 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 145270 use?
Our models discount Ktop Reit at 8.9 %: a base by market capitalisation (nano), 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 Ktop Reit that is +25.4 % 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 Ktop Reit (145270) delivered so far?
Over the past 5 years revenue at Ktop Reit grew -6.6 % a year. The price currently implies +25.4 % 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 Ktop Reit (145270) growing?
The median revenue growth in the sector is +1.8 % a year. That is the yardstick for the growth priced into Ktop Reit (+25.4 % 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 Ktop Reit (145270)?
The free-cash-flow yield on the price is 4.97 %: that much free cash flow Ktop Reit 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 Ktop Reit (145270)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Ktop Reit it is 1,990 KRW per share (as of Sep 24, 2026), against a price of 796.00 KRW. It is the blended result of 14 valuation models (cash flow, earnings, asset, dividend).
Is Ktop Reit stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 145270 trades below its calculated fair value: price 796.00 KRW, fair value 1,990 KRW, a gap of about +150% (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 145270?
No. The price is what the market pays today (796.00 KRW); the fair value is what the company's own numbers justify (1,990 KRW). For Ktop Reit the two are 1,194 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Ktop Reit worth?
The market values Ktop Reit at about 37.7B KRW (market capitalisation, as of Sep 24, 2026). Per share that is 796.00 KRW; our models calculate a fair value of 1,990 KRW per share.
What do the bullish and bearish scenarios say about 145270?
Our models span a range for Ktop Reit: cautious scenario 1,157 KRW, base 1,990 KRW, optimistic 3,718 KRW per share (as of Sep 24, 2026, price 796.00 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Ktop Reit (145270)?
Balance-sheet figures for Ktop Reit (as of Sep 24, 2026): return on equity 13.6%, debt of 0.23 per unit of equity. They feed the Quality Score of 58/100, which measures business quality independently of the share price.
How far is 145270 from its 52-week high?
Ktop Reit trades at 796.00 KRW, about 18% below its 52-week high of 971.00 KRW and 9% above the low of 733.00 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 1,990 KRW is for.
Which stocks are comparable to Ktop Reit?
From the same area (Real Estate) we also value Goodman Group, VICI Properties Inc, W. P. Carey Inc, Charter Hall Group, 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 Ktop Reit stock attractive at the current price?
The data as of Sep 24, 2026: price 796.00 KRW, calculated fair value 1,990 KRW (+150%), Quality Score 58/100, from 14 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 145270 calculated?
We run Ktop Reit through 14 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 1,990 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. Ktop Reit currently trades 150 % 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 Ktop Reit (145270)?
The closing price on Sep 23, 2026 was 796.00 KRW. Our model-based fair value is 1,990 KRW, about +150% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Ktop Reit right now?
The price is below even our cautious bear case (1,157 KRW). The market is more pessimistic than our downside scenario. The model range is unusually wide (1,157 KRW to 3,718 KRW). The outcome hinges heavily on assumptions, so read the point estimate with caution. 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.
Key figures of Ktop Reit
How large is the market capitalisation of Ktop Reit (145270)?
The market capitalisation of Ktop Reit is 37.7B KRW (≈ $27.7M). 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 Ktop Reit (145270)?
The price-to-sales ratio of Ktop Reit is 4.72 (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 Ktop Reit (145270)?
The dividend yield of Ktop Reit is 8.4%. 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 Ktop Reit (145270)?
The net margin of Ktop Reit is 41.2% (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 Ktop Reit (145270)?
The return on equity (ROE) of Ktop Reit is 13.6% (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 Ktop Reit (145270)?
On an EBIT basis the return on assets of Ktop Reit is 6.4% (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 Ktop Reit (145270)?
The operating margin of Ktop Reit is −25.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Ktop Reit (145270)?
Revenue at Ktop Reit is growing −17.7% versus a year earlier (3y avg −11.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much net debt does Ktop Reit (145270) carry?
The net debt of Ktop Reit is 61.6B KRW (fiscal year 2025, ≈ 32.9 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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