SGA Solutions Co (184230) Fair Value & Analysis
Technology · KR · Market cap 35.4B KRW
Fair value as of: Aug 13, 2026
From 24 valuation models · updated today
Fair value updated Aug 13, 2026, revised from 12,367 KRW to 1,214 KRW (−90.2%) since Jul 20, 2026. Share price +13.4% over the past month.
A solid business, but screening 39% overvalued on our models.
What matters now
- A high-quality business (quality 73/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
- The price sits above even our optimistic bull case (1,912 KRW). The favourable scenario is already priced in.
- The model range is unusually wide (728.48 KRW to 1,912 KRW). The outcome hinges heavily on assumptions, so read the point estimate with caution.
Price vs Fair Value (5 years)
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 1,636 KRW – 9,092 KRW · fair‑value band 728.48 KRW – 1,912 KRW · the 1,978 KRW price screens above the 1,214 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.
Analysis
SGA Solutions Co (184230) currently trades at 1,978 KRW, while our model-based Fair Value estimate is 1,214 KRW, implying the stock looks roughly 38.7% overvalued today. The Quality Score stands at 73/100 (solid 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: medium).
Over the trailing twelve months, SGA Solutions Co generated revenue of 79.6B KRW at a net margin of 23.9%. Revenue grew 222.9% year over year. It earns a return on equity of 39.1%. Net debt stands at 18.9B KRW. Fundamentals as of Aug 13, 2026
Our scenario range runs from 728.48 KRW (bear case) to 1,912 KRW (bull case); at 1,978 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 71% below its 52-week high, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -40% fair-value upside, at -39%, 184230 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.
All 24 models by family
Widest divergence: Growth Earnings (18,693 KRW) versus Asset-Based (1,226 KRW). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 68 · Market factors (momentum, volatility) 7
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
SGA Solutions Co.,Ltd. develops and supplies software in South Korea. It provides system security solutions, such as RedCastle and EnterpriseCastle; cloud security products, which includes vAegis and cAegis; zero trust security solutions, such as SGA ZTA; endpoint security solutions comprising VirusChaser 10 AI, PatchChaser, DaLoc, VirusChaser, My PC …
Full company description
SGA Solutions Co.,Ltd. develops and supplies software in South Korea. It provides system security solutions, such as RedCastle and EnterpriseCastle; cloud security products, which includes vAegis and cAegis; zero trust security solutions, such as SGA ZTA; endpoint security solutions comprising VirusChaser 10 AI, PatchChaser, DaLoc, VirusChaser, My PC Protector, SecurityCenter, and Go to VirusChaser page. The company also offers system security gateway, including SecureGuard ICAM, SecureGuard AM, SecureGuard PM, and SecureGuard CCTV PM; security applications, such as TrustChannel FIDO, TrustCertificate, TrustTSA, and TrustLabel; and content accessibility, comprising VOICEYE. SGA Solutions Co.,Ltd. was founded in 2002 and is headquartered in Uiwang-si, South Korea.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
SGA Solutions Co reported revenue of 61.6B KRW in FY2025 versus 21.9B KRW in FY2021, a compound +29.5%/yr. Reported net income was 17.5B KRW in FY2025, compounding +82.0%/yr from FY2021.
184230 screens 39% overvalued. Compare with SAP SE →
Peer Group
Software - Application · 713 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.
Valuation Multiples vs Software - Application median · lower = cheaper
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.
VALUE 0: the price sits above our fair-value range.
Insider activity: 45/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Software - Application stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| SAP SE SAPS | C$12.46 | C$16.26 | +30% |
| Shopify Inc SHOP | C$209.78 | C$28.76 | -86% |
| Uber Technologies, Inc UBER | $75.36 | $43.66 | -42% |
| Salesforce, Inc CRM | $193.32 | $249.28 | +29% |
| ServiceNow, Inc NOW | $124.94 | $43.73 | -65% |
| Cadence Design Systems, Inc CDNS | $323.13 | $112.57 | -65% |
| Beijing Kingsoft Office Software, Inc 688111 | ¥254.50 | ¥81.23 | -68% |
| Tata Elxsi Limited TATAELXSI | ₹3,712 | ₹2,519 | -32% |
| Douzone Bizon Co 012510 | 120,000 KRW | 92,181 KRW | -23% |
| KFin Technologies Limited KFINTECH | ₹922.00 | ₹556.85 | -40% |
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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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