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Ram Technology Co. Ltd (171010) Fair Value & Analysis

Technology · KR · Market cap 39.1B KRW

RT Ram Technology Co. Ltd 171010 · KQ
Price2,680 KRW
Fair Value1,775 KRW
Upside-33.8%
Quality33/100
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Risks

!Trades 34% ABOVE our fair value of 1,775 KRW
!Weak Growth
!Loss-making · -18.2% net margin
!Moderate debt · negative free cash flow
Weak Growth
Loss-making · -18.2% net margin
Moderate debt · negative free cash flow
Trails peers (2/9)
Narrow moat 18/100
Evidence: Low Range 1,325 KRW – 1,775 KRW Share as image

Fair value as of: Aug 13, 2026

From 2 valuation models · updated 7 days ago

Fair value updated Aug 13, 2026, revised from 1,861 KRW to 1,775 KRW (−4.6%) since Jul 20, 2026. Share price −2.0% over the past month.

Below-average quality, and screening another 34% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (1,775 KRW). The favourable scenario is already priced in.
  • Weak quality (33/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
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Price vs Fair Value (5 years)

12,600 KRW 2,375 KRW Fair Value 1,775 KRW Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range 2,375 KRW – 12,600 KRW · fair‑value band 1,325 KRW – 1,775 KRW · the 2,680 KRW price screens above the 1,775 KRW fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Ram Technology Co. Ltd (171010) currently trades at 2,680 KRW, while our model-based Fair Value estimate is 1,775 KRW, implying the stock looks roughly 33.8% overvalued today. The Quality Score stands at 33/100 (below-average quality), in the Technology sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: low).

Over the trailing twelve months, Ram Technology Co. Ltd generated revenue of 43.8B KRW at a net margin of -18.2%. Revenue grew 10.9% year over year. It earns a return on equity of -18.0%. Net debt stands at 49.6B KRW. Fundamentals as of Aug 13, 2026

Our scenario range runs from 1,325 KRW (bear case) to 1,775 KRW (bull case); at 2,680 KRW, the current price sits above 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 46% below its 52-week high, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -72% fair-value upside, at -34%, 171010 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
EV/EBITDA 619.83 KRW 1,339 KRW 2,058 KRW 54
NCAV (Graham) 1,389 KRW 1,861 KRW 2,778 KRW 50
All 2 models by family
Multiples
EV/EBITDA 619.83 KRW 1,339 KRW 2,058 KRW 54
Asset-Based
NCAV (Graham) 1,389 KRW 1,861 KRW 2,778 KRW 50

Widest divergence: Asset-Based (1,861 KRW) versus Multiples (1,339 KRW). Highest evidence: EV/EBITDA (54).

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Key figures & financial health

Revenue (TTM) 43.8B KRW
Revenue growth (YoY) +10.9%
Net margin -18.2%
Return on equity -18.0%
Free cash flow −7.1B KRW FY2025
Operating margin 4.1%
More key figures
EPS growth (YoY) -95.6%
Net debt 49.6B KRW FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 33/100

Of which business quality 33 · Market factors (momentum, volatility) 17

Profitability 7
Margins and returns on capital today
Quality Growth 35
Are margins and returns improving?
Cashflow 23
Earnings quality: real cash, not paper profit
Fin. Strength 27
Balance sheet, leverage, solvency risk
Investment 54
Disciplined investing over empire-building
Low Volatility 46
Calm price path (market factor)
Momentum 4
Price trend over the last 3–12 months (market factor)
52W Momentum 5
Distance to the 52-week high (market factor)
Net Issuance 76
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

Ram Technology Co., Ltd. engages in the manufacturing and selling of electronic chemical materials in South Korea. It offers etching, stripping, and cleaning solution used in IT manufacturing processes for semiconductors, displays, secondary batteries, etc. The company was founded in 2001 and is headquartered in Yongin-Si, South Korea.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Ram Technology Co. Ltd reported revenue of 42.7B KRW in FY2025 versus 48.6B KRW in FY2021, a compound −3.2%/yr. Reported net income was −8.4B KRW in FY2025.

Growth Quality 0/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
42.7B KRW
Latest YoY
−4.1%
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.
−14.0%
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.
+0.0%
Avg. growth/yr (12Y) 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.
−0.1%
Revenue −3.2%/yr
FY21 48.6B KRW
FY22 67.0B KRW
FY23 43.0B KRW
FY24 44.5B KRW
FY25 42.7B KRW
Net income
FY21 3.2B KRW
FY22 6.1B KRW
FY23 −2.9B KRW
FY24 −2.6B KRW
FY25 −8.4B KRW

171010 screens 34% overvalued. Compare with ASML Holding →

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Cite: Fair Value Calculator (2026). "Ram Technology Co. Ltd Fair Value". https://www.fairvalue-calculator.com/stock/171010

Peer Group

Semiconductor Equipment & Materials · 213 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 33 · Bottom 25%
Fair Value upside −34% · Above median
Return on assets -0% · Bottom 25%
Net margin (TTM) -18% · Bottom 25%
Operating margin (TTM) 4% · Below median
Revenue growth 11% · Below median
Debt / equity 0.76× · Higher than 75% of peers

Valuation Multiples vs Semiconductor Equipment & Materials median · lower = cheaper

EV/EBITDA 9.2× · 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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 0
FUTURE55 · sector 69
PAST0 · sector 30
HEALTH62 · sector 96
DIVIDEND0 · sector 18

VALUE 0: the price sits above our fair-value range.

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

Similar stocks

10 more Semiconductor Equipment & Materials stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
ASML Holding ASML C$50.51 C$21.21 -58%
Applied Materials, Inc AMAT $548.15 $183.10 -67%
Lam Research Corporation LRCX $326.11 $91.80 -72%
NAURA Technology Group 002371 ¥760.00 ¥205.30 -73%
Advanced Micro-Fabrication Equipment Inc 688012 ¥380.95 ¥55.05 -86%
Hon. Precision, Inc 7769 6,445 TWD 1,804 TWD -72%
MPI Corporation 6223 6,495 TWD 738.64 TWD -89%
HANMI Semiconductor Co 042700 217,500 KRW 47,976 KRW -78%
Wonik IPS Co 240810 120,000 KRW 36,380 KRW -70%
LEENO Industrial Inc 058470 71,400 KRW 46,234 KRW -35%

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Frequently asked questions

Is Ram Technology Co. Ltd (171010) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 1,775 KRW versus a price of 2,680 KRW, about −34% (overvalued).
What is the fair value of 171010?
Our model-based fair value for Ram Technology Co. Ltd is 1,775 KRW (as of Aug 13, 2026), built from audited fundamentals. The current price: 2,680 KRW.
What is the quality score of 171010?
Ram Technology Co. Ltd has a Quality Score of 33/100. 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 Ram Technology Co. Ltd (171010)?
Ram Technology Co. Ltd reported trailing-twelve-month revenue of about 43.8B KRW (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 171010?
The net profit margin of Ram Technology Co. Ltd is about -18.2%, meaning it is currently running at a net loss. Based on the latest reported figures.

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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