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Namuga Co (190510) Fair Value & Analysis

Technology · KR · Market cap 184B KRW

NC Namuga Co 190510 · KQ
Price13,900 KRW
Fair Value33,453 KRW
Upside+140.7%
Quality74/100
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Weak Growth
Thin margins · 7.2% net margin
Low debt · generates free cash flow
3.75% dividend yield
Ranks above peers (7/8)
Moderate moat 47/100
Evidence: High Range 24,576 KRW – 42,331 KRW Share as image

Fair value as of: Jul 20, 2026

From 23 valuation models · updated 21 days ago

Fair value updated Jul 20, 2026, revised from 26,062 KRW to 33,453 KRW (+28.4%) since Jun 25, 2026. Share price +6.0% over the past month.

A solid business, screening 141% undervalued on our models.

What matters 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 (24,576 KRW). The market is more pessimistic than our downside scenario.
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Price vs Fair Value (5 years)

26,900 KRW 7,128 KRW Fair Value 33,453 KRW Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 20, 2026.

How to read this chart

60‑month range 7,128 KRW – 26,900 KRW · fair‑value band 24,576 KRW – 42,331 KRW · the 13,900 KRW price screens below the 33,453 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 20, 2026.

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Analysis

Namuga Co (190510) currently trades at 13,900 KRW, while our model-based Fair Value estimate is 33,453 KRW, implying the stock looks roughly 140.7% undervalued today. The Quality Score stands at 74/100 (solid quality), in the Technology sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Namuga Co generated revenue of 514B KRW at a net margin of 7.2%. Revenue declined 9.5% year over year. Net debt stands at 29.4B KRW. Fundamentals as of Jul 20, 2026

Our scenario range runs from 24,576 KRW (bear case) to 42,331 KRW (bull case); at 13,900 KRW, the current price sits below 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 51% below its 52-week high and 13% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at 22% fair-value upside, at 141%, 190510 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
Growth DCF 33,628 KRW 44,192 KRW 58,753 KRW 80
Residual Income 11,907 KRW 15,406 KRW 39,712 KRW 76
Rev-Margin DCF 27,990 KRW 37,710 KRW 48,345 KRW 74
All 23 models by family
DCF Models
FCF DCF 32,964 KRW 44,443 KRW 61,035 KRW 38
Owner Earnings 34,764 KRW 47,081 KRW 64,884 KRW 31
5Y Revenue Exit 27,990 KRW 37,421 KRW 48,996 KRW 39
5Y EBITDA Exit 33,774 KRW 47,813 KRW 63,574 KRW 41
5Y P/E Exit 31,998 KRW 44,623 KRW 57,280 KRW 38
10Y Revenue Exit 29,092 KRW 37,918 KRW 48,829 KRW 36
10Y EBITDA Exit 33,243 KRW 44,979 KRW 59,549 KRW 37
10Y P/E Exit 32,129 KRW 42,812 KRW 54,921 KRW 35
Earnings-Based
Graham-Dodd 11,954 KRW 29,839 KRW 38,709 KRW 54
PEG = 1.0 5,451 KRW 7,788 KRW 10,124 KRW 46
EPV 25,211 KRW 28,029 KRW 30,495 KRW 59
Multiples
P/E Multiple 26,369 KRW 35,158 KRW 43,948 KRW 63
P/S Multiple 22,414 KRW 29,885 KRW 37,356 KRW 58
P/B Multiple 22,414 KRW 29,885 KRW 37,356 KRW 55
EV/EBIT 34,934 KRW 43,812 KRW 52,690 KRW 53
EV/EBITDA 37,829 KRW 47,672 KRW 57,515 KRW 54
EV/Revenue 26,254 KRW 33,948 KRW 41,642 KRW 43
Asset-Based
NCAV (Graham) 6,010 KRW 8,053 KRW 12,019 KRW 50
Growth DCF
Growth DCF 33,628 KRW 44,192 KRW 58,753 KRW 80
Rev-Margin DCF 27,990 KRW 37,710 KRW 48,345 KRW 74
Economic Profit
Residual Income 11,907 KRW 15,406 KRW 39,712 KRW 76
ROIC Compounder 25,773 KRW 29,366 KRW 32,988 KRW 72
Growth Earnings
Growth-Adj P/E 20,389 KRW 29,128 KRW 37,866 KRW 68

Widest divergence: DCF Models (44,443 KRW) versus Asset-Based (8,053 KRW). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 514B KRW
Revenue growth (YoY) -9.5%
Net margin 7.2%
Return on equity 1,576%
Free cash flow 32.7B KRW FY2025
Operating margin 6.7%
More key figures
Dividend yield 3.8%
EPS growth (YoY) +24.0%
Net debt 29.4B KRW FY2021

Figures from reported company fundamentals · as of Jul 20, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 74/100

Of which business quality 73 · Market factors (momentum, volatility) 14

Profitability 57
Margins and returns on capital today
Quality Growth 59
Are margins and returns improving?
Cashflow 58
Earnings quality: real cash, not paper profit
Fin. Strength 99
Balance sheet, leverage, solvency risk
Investment 72
Disciplined investing over empire-building
Low Volatility 8
Calm price path (market factor)
Momentum 13
Price trend over the last 3–12 months (market factor)
52W Momentum 24
Distance to the 52-week high (market factor)
Net Issuance 100
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

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 …

Full company description

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.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Namuga Co 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.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
460B KRW
Latest YoY
+2.1%
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.
−4.0%
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.
−2.1%
Avg. growth/yr (11Y) 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.
+7.0%
Revenue −2.2%/yr
FY21 503B KRW
FY22 519B KRW
FY23 366B KRW
FY24 450B KRW
FY25 460B KRW
Net income +11.9%/yr
FY21 16.0B KRW
FY22 31.3B KRW
FY23 23.5B KRW
FY24 26.1B KRW
FY25 25.1B KRW

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Cite: Fair Value Calculator (2026). "Namuga Co Fair Value". https://www.fairvalue-calculator.com/stock/190510

Peer Group

Electronic Equipment & Parts · 21 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 74 · Top 25%
Fair Value upside +141% · Top 25%
Return on assets 10% · Top 25%
Net margin (TTM) 7% · Above median
Operating margin (TTM) 7% · Top 25%
Revenue growth -10% · Below median
Dividend yield (TTM) 3.8% · Above median

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 100 · sector 35
FUTURE 0 · sector 0
PAST 0 · sector 0
HEALTH 100 · sector 98
DIVIDEND 75 · sector 65

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Electronic Equipment & Parts stocks, each showing price versus our Fair Value estimate (as of Jul 20, 2026).

Stock Price Fair Value vs Fair Value
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VINATech Co 126340 55,700 KRW 9,538 KRW -83%
Partron Co 091700 5,650 KRW 11,424 KRW +102%
Amotech Co 052710 15,560 KRW 9,214 KRW -41%
KHVATEC Co 060720 10,010 KRW 17,111 KRW +71%
MNTech Co 095500 6,820 KRW 8,280 KRW +21%
Powerlogics. Co 047310 2,820 KRW 3,441 KRW +22%
e-LITECOM CO., Ltd 041520 8,910 KRW 11,520 KRW +29%
Ajinextek Co 059120 4,315 KRW 1,177 KRW -73%
CoAsia Corporation 045970 2,585 KRW 7,146 KRW +176%

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Frequently asked questions

Is Namuga Co (190510) overvalued or undervalued?
As of Jul 20, 2026, our model estimates a fair value of 33,453 KRW versus a price of 13,900 KRW, about +141% (undervalued).
What is the fair value of 190510?
Our model-based fair value for Namuga Co is 33,453 KRW (as of Jul 20, 2026), built from audited fundamentals. The current price is 13,900 KRW.
What is the quality score of 190510?
Namuga Co 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 revenue of Namuga Co (190510)?
Namuga Co reported trailing-twelve-month revenue of about 514B KRW (latest available figure, as of Jul 20, 2026).
What is the net profit margin of 190510?
The net profit margin of Namuga Co is about 7.2%, meaning it keeps roughly 7.2% of revenue as net income. Based on the latest reported figures.
Does Namuga Co pay a dividend?
Namuga Co currently shows a dividend yield of about 3.75% relative to its recent price (as of Jul 20, 2026).

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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