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DeviceENG.CO.Ltd (187870) fair value: what the stock is really worth

As of Sep 23, 2026: fair value of DeviceENG.CO.Ltd KRW 7,707, price KRW 11,940, upside -35.5%, quality 55 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? Yes
  3. Add to watchlist

Technology · KR · ISIN KR7187870001

DC Thin data Sep 24, 2026

DeviceENG.CO.Ltd

187870 · KQ

Stretched ValuationStrong overvaluation with only moderate quality.

!Fair value 7,707 KRW · Strongly overvalued (−35%)
!Quality 55/100
!Expensive Growth (revenue YoY +78.3 %/yr)
✓Highly profitable · 26.4% net margin (TTM)
!Low debt · negative free cash flow
·2.72% dividend yield
✓Ranks above peers (8/9)
✓Wide moat 90/100
!Evidence only low, so the estimate is less certain
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

28,100 KRW 4,930 KRW Fair Value 7,707 KRW May 2021 Sep 2026

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 4,930 KRW – 28,100 KRW · fair‑value band 7,412 KRW – 7,819 KRW · the 11,940 KRW price screens above the 7,707 KRW fair value. Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

DEVICE CO.,Ltd develops and supplies automatic control systems of semiconductors, displays, and material parts to semiconductor, LCD, and FPD manufacturers in South Korea and internationally.

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DEVICE CO.,Ltd develops and supplies automatic control systems of semiconductors, displays, and material parts to semiconductor, LCD, and FPD manufacturers in South Korea and internationally. The company offers OLED mask cleaners, glass cleaners, auto macro inspection, DIW/chemical incline heating systems, and etcher and strippers for displays; single wafer cleaners, FOUP cleaners, cassette and magazine cleaners, POD cleaners, exhaust reduction systems, metal lift offs, flushing systems, HDIW supply systems, and chemical delivery supply systems for semiconductors; and material parts, such as filters for process and industrial, trays, films and sheets, leak sensors, and al bags. The company was formerly known as Device ENG Co.,Ltd. and changed its name to DEVICE CO.,Ltd in April 2025. The company was incorporated in 2002 and is headquartered in Cheonan-si, South Korea.

Stock analysis

DeviceENG.CO.Ltd (187870) currently trades at 11,940 KRW, while our model-based Fair Value estimate is 7,707 KRW, implying the stock looks roughly 54.9% overvalued today.

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Valuation

Bull case: the Growth Earnings group reads highest at a median of 26,371 KRW per share, and 8 of the 13 models we run sit above the 11,940 KRW price.

Bear case: the Earnings-Based group reads lowest at 7,950 KRW, and 5 of the 13 models stay below the price. Evidence for this calculation is low.

Scenario range: 7,412 KRW (bear) to 7,819 KRW (bull), the price of 11,940 KRW sits above 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 55/100 (solid quality), in the Technology sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

DeviceENG.CO.Ltd reported revenue of 84.1B KRW in FY2025 versus 125B KRW in FY2021, a compound −9.4%/yr. Reported net income was 16.9B KRW in FY2025, compounding −14.4%/yr from FY2021.

Key figures

Market cap 161B KRW (≈ $113M) · P/S ratio 1.12 · Dividend yield 2.7% · Net margin 20.1% · Return on equity 45.5% · Return on assets (EBIT) 8.0% · Operating margin 39.5% · Revenue (TTM) 152B KRW.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).

What moves the price

The share trades about 58% below its 52-week high and 108% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Technology peers we cover trades at −34% fair-value upside, at −35%, 187870 screens richer than that median.

Fair Value models

Bear 7,412 KRW Fair Value 7,707 KRW Bull 7,819 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.
Highest evidence
Owner Earnings 6,783 KRW 8,529 KRW 11,596 KRW 75
EPV 7,021 KRW 7,950 KRW 8,703 KRW 74
Residual Income 9,567 KRW 10,294 KRW 11,609 KRW 74
All 13 models by family
DCF Models
Owner Earnings 6,783 KRW 8,529 KRW 11,596 KRW 75
Earnings-Based
Graham-Dodd 8,546 KRW 12,976 KRW 15,452 KRW 65
EPV 7,021 KRW 7,950 KRW 8,703 KRW 74
Multiples
P/E Multiple 26,391 KRW 35,188 KRW 43,985 KRW 63
P/S Multiple 16,023 KRW 21,364 KRW 26,705 KRW 58
P/B Multiple 16,023 KRW 21,364 KRW 26,705 KRW 55
EV/EBIT 22,450 KRW 30,173 KRW 37,896 KRW 66
EV/EBITDA 19,506 KRW 26,248 KRW 32,990 KRW 67
EV/Revenue 10,995 KRW 16,014 KRW 21,034 KRW 53
Asset-Based
NCAV (Graham) 5,979 KRW 8,012 KRW 11,958 KRW 54
Economic Profit
Residual Income 9,567 KRW 10,294 KRW 11,609 KRW 74
ROIC Compounder 7,021 KRW 7,950 KRW 8,703 KRW 70
Growth Earnings
Growth-Adj P/E 18,460 KRW 26,371 KRW 34,282 KRW 65

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Quality Score breakdown

Overall quality 55/100

Of which business quality 49 · Market factors (momentum, volatility) 41

Profitability 45
Margins and returns on capital today
Quality Growth 97
Are margins and returns improving?
Cashflow 12
Earnings quality: real cash, not paper profit
Fin. Strength 82
Balance sheet, leverage, solvency risk
Investment 64
Disciplined investing over empire-building
Low Volatility 0
Calm price path (market factor)
Momentum 55
Price trend over the last 3–12 months (market factor)
52W Momentum 64
Distance to the 52-week high (market factor)
Net Issuance 0
Share count: buybacks or dilution?

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Revenue & earnings trend

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. 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
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.
−19.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year−22.1%
Dividend (yield on the price)2.7%
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.−22% vs 5%, 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.35% → 21%
Start year 2020 (pandemic)
⚠ Revenue per share shrinking 9.3%/yr over ~7Y (margins intact) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.

187870 screens 55% overvalued. Compare with ASML Holding →

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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.Semiconductor Equipment & Materials · 217 stocks

Beats the industry median on 8/9 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 55 · Above median
Fair Value upside −36% · Above median
Profitability
Return on equity (TTM) 45% · Top 25%
Return on assets 25% · Top 25%
Net margin (TTM) 26% · Top 25%
Operating margin (TTM) 40% · Top 25%
Growth and dividend
Revenue growth 260% · Top 25%
Dividend yield (TTM) 2.7% · Top 25%
Balance sheet
Debt / equity 0.13× · Above median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 0
FUTURE (revenue growth)100 · sector 66
PAST (return on equity)100 · sector 30
HEALTH (low debt)94 · sector 96
DIVIDEND (yield)54 · sector 15

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

Context: sector, industry, market

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

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Advanced Micro-Fabrication Equipment Inc 688012 ¥349.35 ¥117.08 −66%
Piotech Inc 688072 ¥730.30 ¥322.24 −56%
SJ Semiconductor Corporation 688820 ¥133.57 ¥13.84 −90%
Hon. Precision, Inc 7769 5,670 TWD 4,864 TWD −14%
Qnity Electronics, Inc Q $124.86 $70.44 −44%

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DeviceENG.CO.Ltd · Fair Value
7,707 KRW −55%Fair Value
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Cite: Fair Value Calculator (2026). "DeviceENG.CO.Ltd Fair Value". https://www.fairvalue-calculator.com/stock/187870

Frequently asked questions

Is DeviceENG.CO.Ltd (187870) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 7,707 KRW versus a price of 11,940 KRW, about −35% upside (overvalued).
What is the fair value of 187870?
Our model-based fair value for DeviceENG.CO.Ltd is 7,707 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 11,940 KRW.
What is the quality score of 187870?
DeviceENG.CO.Ltd has a Quality Score of 55/100. 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 DeviceENG.CO.Ltd (187870)?
Our model-based price target is the fair value of 7,707 KRW (as of Sep 24, 2026) from 13 valuation models. Cautious scenario 7,412 KRW, optimistic scenario 7,819 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the DeviceENG.CO.Ltd stock forecast for 2026?
Our models put fair value at 7,707 KRW, about −35% upside versus a price of 11,940 KRW (overvalued). Cautious scenario 7,412 KRW, optimistic scenario 7,819 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of DeviceENG.CO.Ltd (187870)?
DeviceENG.CO.Ltd reported trailing-twelve-month revenue of about 152B KRW (latest available figure, as of Sep 24, 2026).
Does DeviceENG.CO.Ltd pay a dividend?
DeviceENG.CO.Ltd currently shows a dividend yield of about 2.72% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of DeviceENG.CO.Ltd (187870)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For DeviceENG.CO.Ltd it is 7,707 KRW per share (as of Sep 24, 2026), against a price of 11,940 KRW. It is the blended result of 13 valuation models (cash flow, earnings, asset, dividend).
Is DeviceENG.CO.Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 187870 trades above its calculated fair value: price 11,940 KRW, fair value 7,707 KRW, a gap of about −35% (overvalued). 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 187870?
No. The price is what the market pays today (11,940 KRW); the fair value is what the company's own numbers justify (7,707 KRW). For DeviceENG.CO.Ltd the two are 4,233 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is DeviceENG.CO.Ltd worth?
The market values DeviceENG.CO.Ltd at about 161B KRW (market capitalisation, as of Sep 24, 2026). Per share that is 11,940 KRW; our models calculate a fair value of 7,707 KRW per share.
What do the bullish and bearish scenarios say about 187870?
Our models span a range for DeviceENG.CO.Ltd: cautious scenario 7,412 KRW, base 7,707 KRW, optimistic 7,819 KRW per share (as of Sep 24, 2026, price 11,940 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of DeviceENG.CO.Ltd (187870)?
Balance-sheet figures for DeviceENG.CO.Ltd (as of Sep 24, 2026): return on equity 45.5%, debt of 0.13 per unit of equity. They feed the Quality Score of 55/100, which measures business quality independently of the share price.
How far is 187870 from its 52-week high?
DeviceENG.CO.Ltd trades at 11,940 KRW, about 58% below its 52-week high of 28,100 KRW and 108% above the low of 5,729 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 7,707 KRW is for.
Which stocks are comparable to DeviceENG.CO.Ltd?
From the same area (Technology) we also value ASML Holding, Applied Materials, Inc, Lam Research Corporation, KLA Corporation, 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 DeviceENG.CO.Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price 11,940 KRW, calculated fair value 7,707 KRW (−35%), Quality Score 55/100, from 13 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 187870 calculated?
We run DeviceENG.CO.Ltd through 13 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 7,707 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. DeviceENG.CO.Ltd itself currently trades above fair value. 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 DeviceENG.CO.Ltd (187870)?
The closing price on Sep 23, 2026 was 11,940 KRW. Our model-based fair value is 7,707 KRW, about −35% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with DeviceENG.CO.Ltd right now?
The price sits above even our optimistic bull case (7,819 KRW). The favourable scenario is already priced in. 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 but not exceptional quality (55/100) and above fair value, neither a clear bargain nor a standout compounder. The models converge in a tight band (7,412 KRW to 7,819 KRW), unusually little disagreement for a valuation.

Key figures of DeviceENG.CO.Ltd

How large is the market capitalisation of DeviceENG.CO.Ltd (187870)?
The market capitalisation of DeviceENG.CO.Ltd is 161B KRW (≈ $113M). 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 DeviceENG.CO.Ltd (187870)?
The price-to-sales ratio of DeviceENG.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 DeviceENG.CO.Ltd (187870)?
The dividend yield of DeviceENG.CO.Ltd is 2.7%. 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 DeviceENG.CO.Ltd (187870)?
The net margin of DeviceENG.CO.Ltd is 20.1% (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 DeviceENG.CO.Ltd (187870)?
The return on equity (ROE) of DeviceENG.CO.Ltd is 45.5% (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 DeviceENG.CO.Ltd (187870)?
On an EBIT basis the return on assets of DeviceENG.CO.Ltd is 8.0% (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 DeviceENG.CO.Ltd (187870)?
The operating margin of DeviceENG.CO.Ltd is 39.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at DeviceENG.CO.Ltd (187870)?
Revenue at DeviceENG.CO.Ltd is growing +260% versus a year earlier (3y avg +4.9%). 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 DeviceENG.CO.Ltd (187870)?
Earnings per share at DeviceENG.CO.Ltd are growing −54.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does DeviceENG.CO.Ltd (187870) generate?
The free cash flow of DeviceENG.CO.Ltd is −532M KRW (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does DeviceENG.CO.Ltd (187870) carry?
The net debt of DeviceENG.CO.Ltd is 10.4B KRW (fiscal year 2025). 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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