Namuga Co. Ltd (190510) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Namuga Co. Ltd KRW 36,136, price KRW 15,690, upside +130.3%, quality 74 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 7,128 KRW – 26,900 KRW · fair‑value band 27,686 KRW – 45,690 KRW · the 15,690 KRW price screens below the 36,136 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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Namuga Co., Ltd. designs, produces, and sells cameras and 3D sensing modules worldwide.
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Namuga Co., Ltd. designs, produces, and sells cameras and 3D sensing modules worldwide. It offers single and multi-camera modules for mobiles and IT devices; and dual camera based and IR camera based 3D sensing cameras used in robotics, augmented reality and virtual reality applications, home IoT devices, design, instrumentation, thermal, optical analysis and evaluation, and production applications. The company was founded in 2004 and is headquartered in Seongnam, South Korea.
Stock analysis
Namuga Co. Ltd (190510) currently trades at 15,690 KRW, while our model-based Fair Value estimate is 36,136 KRW, implying the stock looks roughly 56.6% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 39,844 KRW per share, and 20 of the 23 models we run sit above the 15,690 KRW price.
Bear case: the Asset-Based group reads lowest at 8,053 KRW, and 3 of the 23 models stay below the price. Evidence for this calculation is medium.
Scenario range: 27,686 KRW (bear) to 45,690 KRW (bull), the price of 15,690 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 74/100 (solid quality), in the Technology sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Namuga Co. Ltd reported revenue of 460B KRW in FY2025 versus 503B KRW in FY2021, a compound −2.2%/yr. Reported net income was 25.1B KRW in FY2025, compounding +11.9%/yr from FY2021.
Key figures
Market cap 224B KRW (≈ $157M) · P/S ratio 0.36 · Dividend yield 3.8% · Net margin 5.5% · Return on equity 1,576% · Return on assets (EBIT) 11.6% · Operating margin 6.7% · Revenue (TTM) 514B 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 42% below its 52-week high and 34% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at 59% fair-value upside, at 130%, 190510 screens cheaper than that median.
Fair Value models
Bear 27,686 KRWFair Value 36,136 KRWBull 45,690 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
+2.1%
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.
−4.0%
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.
−2.1%
Start year 2020 (pandemic). Over 10 years: +1.3% a year
Revenue growth 11 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.
+7.0%
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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.
+12.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+8.6%
Dividend (yield on the price)3.8%
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.0% → 6%
Growth Forecast
Little optimism in the price
The price assumes less 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).
−14.9%
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 −16.6% 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.Electronic Equipment & Parts · 22 stocks
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is Namuga Co. Ltd (190510) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 36,136 KRW versus a price of 15,690 KRW, about +130% upside (undervalued).
What is the fair value of 190510?
Our model-based fair value for Namuga Co. Ltd is 36,136 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 15,690 KRW.
What is the quality score of 190510?
Namuga Co. Ltd has a Quality Score of 74/100. 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 Namuga Co. Ltd (190510)?
Our model-based price target is the fair value of 36,136 KRW (as of Sep 24, 2026) from 23 valuation models. Cautious scenario 27,686 KRW, optimistic scenario 45,690 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Namuga Co. Ltd stock forecast for 2026?
Our models put fair value at 36,136 KRW, about +130% upside versus a price of 15,690 KRW (undervalued). Cautious scenario 27,686 KRW, optimistic scenario 45,690 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Namuga Co. Ltd (190510)?
Namuga Co. Ltd reported trailing-twelve-month revenue of about 514B KRW (latest available figure, as of Sep 24, 2026).
Does Namuga Co. Ltd pay a dividend?
Namuga Co. Ltd currently shows a dividend yield of about 3.75% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Namuga Co. Ltd (190510)?
For today's price to be fair in a discounted-cash-flow model, Namuga Co. Ltd would have to grow free cash flow by -14.9 % per year for five years (discount rate 15.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -2.1 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 190510 use?
Our models discount Namuga Co. Ltd at 15.1 %: a base by market capitalisation (micro), damped by beta 1.60, 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 Namuga Co. Ltd that is -14.9 % per year a year over ten years, using the same discount rate (15.1 %) and the same formula as our fair value.
How much growth has Namuga Co. Ltd (190510) delivered so far?
Over the past 5 years revenue at Namuga Co. Ltd grew -2.1 % a year. The price currently implies -14.9 % 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 Namuga Co. Ltd (190510) growing?
The median revenue growth in the sector is +8.2 % a year. That is the yardstick for the growth priced into Namuga Co. Ltd (-14.9 % 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 Namuga Co. Ltd (190510)?
The free-cash-flow yield on the price is 14.57 %: that much free cash flow Namuga Co. Ltd produces per unit of market value. When it exceeds the discount rate of our models (15.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Namuga Co. Ltd (190510)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Namuga Co. Ltd it is 36,136 KRW per share (as of Sep 24, 2026), against a price of 15,690 KRW. It is the blended result of 23 valuation models (cash flow, earnings, asset, dividend).
Is Namuga Co. Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 190510 trades below its calculated fair value: price 15,690 KRW, fair value 36,136 KRW, a gap of about +130% (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 190510?
No. The price is what the market pays today (15,690 KRW); the fair value is what the company's own numbers justify (36,136 KRW). For Namuga Co. Ltd the two are 20,446 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Namuga Co. Ltd worth?
The market values Namuga Co. Ltd at about 224B KRW (market capitalisation, as of Sep 24, 2026). Per share that is 15,690 KRW; our models calculate a fair value of 36,136 KRW per share.
What do the bullish and bearish scenarios say about 190510?
Our models span a range for Namuga Co. Ltd: cautious scenario 27,686 KRW, base 36,136 KRW, optimistic 45,690 KRW per share (as of Sep 24, 2026, price 15,690 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How far is 190510 from its 52-week high?
Namuga Co. Ltd trades at 15,690 KRW, about 42% below its 52-week high of 26,900 KRW and 34% above the low of 11,700 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 36,136 KRW is for.
Which stocks are comparable to Namuga Co. Ltd?
From the same area (Technology) we also value VINATech Co, Partron Co, Amotech Co, KHVATEC Co, 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 Namuga Co. Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price 15,690 KRW, calculated fair value 36,136 KRW (+130%), Quality Score 74/100, 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 190510 calculated?
We run Namuga 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 36,136 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 13.0 % above its aggregate fair value. Namuga Co. Ltd currently trades 130 % 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 Namuga Co. Ltd (190510)?
The closing price on Sep 23, 2026 was 15,690 KRW. Our model-based fair value is 36,136 KRW, about +130% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Namuga Co. Ltd right now?
The rarer combination: high quality (74/100) AND below fair value. That earns a closer look rather than a quick verdict. The price is below even our cautious bear case (27,686 KRW). The market is more pessimistic than our downside scenario.
Key figures of Namuga Co. Ltd
How large is the market capitalisation of Namuga Co. Ltd (190510)?
The market capitalisation of Namuga Co. Ltd is 224B KRW (≈ $157M). 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 Namuga Co. Ltd (190510)?
The price-to-sales ratio of Namuga Co. Ltd is 0.36 (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 Namuga Co. Ltd (190510)?
The dividend yield of Namuga Co. Ltd is 3.8%. 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 Namuga Co. Ltd (190510)?
The net margin of Namuga Co. Ltd is 5.5% (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 Namuga Co. Ltd (190510)?
The return on equity (ROE) of Namuga Co. Ltd is 1,576% (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 Namuga Co. Ltd (190510)?
On an EBIT basis the return on assets of Namuga Co. Ltd is 11.6% (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 Namuga Co. Ltd (190510)?
The operating margin of Namuga Co. Ltd is 6.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Namuga Co. Ltd (190510)?
Revenue at Namuga Co. Ltd is growing −9.5% versus a year earlier (3y avg −4.0%). 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 Namuga Co. Ltd (190510)?
Earnings per share at Namuga Co. Ltd are growing +24.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Namuga Co. Ltd (190510) carry?
The net debt of Namuga Co. Ltd is 29.4B KRW (fiscal year 2021, ≈ 0.9 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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