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KB No.2 Special Purpose Acq (192250) fair value: what the stock is really worth

As of Sep 23, 2026: fair value of KB No.2 Special Purpose Acq KRW 8,473, price KRW 7,960, upside +6.4%, quality 37 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

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

Technology · KR · ISIN KR7192250009

KN Thin data Sep 24, 2026

KB No.2 Special Purpose Acq

192250 · KQ

Low PriorityFair Value upside is limited and quality is weak.

·Fair value 8,473 KRW · Fairly valued (+6%)
!Quality 37/100
!Expensive Growth (revenue 5y +6.5 %/yr)
!Thin margins · 6.9% net margin (TTM)
!Low debt · negative free cash flow
·2.51% dividend yield
✓Ranks above peers (6/9)
!Narrow moat 31/100
!Evidence only low, so the estimate is less certain
!Weak on past: 13 out of 100
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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

31,509 KRW 6,330 KRW Fair Value 8,473 KRW Apr 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 6,330 KRW – 31,509 KRW · fair‑value band 6,253 KRW – 11,130 KRW · the 7,960 KRW price screens below the 8,473 KRW fair value. Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

KSIGN Co.,Ltd. develops and supplies software products primarily in South Korea.

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KSIGN Co.,Ltd. develops and supplies software products primarily in South Korea. The company offers KSignSecureDB, an encryption solution to securely store and transmit personal information; KSignSecureDB for SDE, which provides support for API approach and plug-in method handling encryption and decryption functions; KSignSecureDB for SPIN, a column-level encryption using a PIN method that ensures no change in data types; KSignSecureDB for Kernel to encryp the data file of the DBMS; KSignSecureDB for UDE that offers encryption capabilities for unstructured data, including videos, various logs, docker images, VMWare images, assorted documents, and various images; and KSignKMS, which safeguards encryption keys by physically storing them separately. It also provides KSignPKI, a certification system designed to establish a secure authentication framework; KSignCASE that establishes secure sessions in various communication environments; Trust Thing, which protects individual privacy from various threats in the IoT environment; KSignAccess for SSO, which generates an encrypted token based on user login information; KSignAccess for EAM for centralized management of user account information; KSignAccess for IAM, which offers management capabilities to user accounts, including creation, modification, and deletion; WizID for creating and verifying blockchain-based identity information; Wizpass for FIDO, a biometric authentication service based on FIDO2; Wizpass for mOTP, a mobile OTP solution that generates a one-time password through mobile; and electric vehicle charging infrastructure electronic authentication systems. The company was founded in 1999 and is based in Gwacheon-si, South Korea.

Stock analysis

KB No.2 Special Purpose Acq (192250) currently trades at 7,960 KRW, while our model-based Fair Value estimate is 8,473 KRW, implying the stock looks roughly 6.1% fairly valued today.

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Valuation

Bull case: the Multiples group reads highest at a median of 10,267 KRW per share, and 10 of the 14 models we run sit above the 7,960 KRW price.

Bear case: the Earnings-Based group reads lowest at 2,747 KRW, and 4 of the 14 models stay below the price. Evidence for this calculation is low.

Scenario range: 6,253 KRW (bear) to 11,130 KRW (bull), the price of 7,960 KRW sits inside 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 37/100 (below-average quality), in the Technology sector.

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

KB No.2 Special Purpose Acq reported revenue of 48.4B KRW in FY2025 versus 37.3B KRW in FY2021, a compound +6.7%/yr. Reported net income was 2.4B KRW in FY2025, compounding −19.6%/yr from FY2021.

Key figures

Market cap 54.5B KRW (≈ $38.1M) · P/S ratio 0.94 · Dividend yield 2.5% · Net margin 5.0% · Return on equity 3.1% · Return on assets (EBIT) 3.6% · Operating margin 3.1% · Revenue (TTM) 49.4B KRW.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).

What moves the price

The share trades about 50% below its 52-week high and 21% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Technology peers we cover trades at −19% fair-value upside, at 6%, 192250 screens cheaper than that median.

Fair Value models

Bear 6,253 KRW Fair Value 8,473 KRW Bull 11,130 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
Residual Income 9,703 KRW 9,280 KRW 7,497 KRW 76
EPV 9,565 KRW 9,883 KRW 10,157 KRW 74
ROIC Compounder 9,565 KRW 9,883 KRW 10,157 KRW 72
All 14 models by family
Earnings-Based
Graham-Dodd 2,493 KRW 8,419 KRW 11,284 KRW 64
Lynch FV 1,923 KRW 2,747 KRW 3,570 KRW 61
PEG = 1.0 1,923 KRW 2,747 KRW 3,570 KRW 57
EPV 9,565 KRW 9,883 KRW 10,157 KRW 74
Multiples
P/E Multiple 7,700 KRW 10,267 KRW 12,834 KRW 63
P/S Multiple 4,675 KRW 6,234 KRW 7,792 KRW 58
P/B Multiple 4,675 KRW 6,234 KRW 7,792 KRW 55
EV/EBIT 15,523 KRW 18,179 KRW 20,836 KRW 66
EV/EBITDA 20,006 KRW 24,158 KRW 28,309 KRW 67
EV/Revenue 11,582 KRW 13,309 KRW 15,035 KRW 54
Asset-Based
NCAV (Graham) 6,873 KRW 9,210 KRW 13,746 KRW 54
Economic Profit
Residual Income 9,703 KRW 9,280 KRW 7,497 KRW 76
ROIC Compounder 9,565 KRW 9,883 KRW 10,157 KRW 72
Growth Earnings
Growth-Adj P/E 6,361 KRW 9,088 KRW 11,814 KRW 67

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Quality Score breakdown

Overall quality 37/100

Of which business quality 38 · Market factors (momentum, volatility) 22

Profitability 26
Margins and returns on capital today
Quality Growth 35
Are margins and returns improving?
Cashflow 22
Earnings quality: real cash, not paper profit
Fin. Strength 46
Balance sheet, leverage, solvency risk
Investment 31
Disciplined investing over empire-building
Low Volatility 38
Calm price path (market factor)
Momentum 20
Price trend over the last 3–12 months (market factor)
52W Momentum 9
Distance to the 52-week high (market factor)
Net Issuance 75
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. 28/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−6.7%
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.
+3.9%
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.
+6.5%
Start year 2020 (pandemic). Over 10 years: +4.4% 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.
+5.8%
What shareholders gained per year (last 5 years), in KRW (mathematically smoothed) ⓘ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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. 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.
+43.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year+41.4%
Dividend (yield on the price)2.5%
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.41% vs 16%, picking up
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.12% → 6%
2025 sits 388% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Start year 2020 (pandemic)

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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.Software - Infrastructure · 377 stocks

Beats the industry median on 5/8 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 37 · Bottom 25%
Fair Value upside +6% · Above median
Profitability
Return on equity (TTM) 3% · Below median
Return on assets 1% · Above median
Net margin (TTM) 7% · Above median
Operating margin (TTM) 3% · Below median
Growth and dividend
Revenue growth 15% · Above median
Dividend yield (TTM) 2.5% · Above median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)42 · sector 18
FUTURE (revenue growth)74 · sector 49
PAST (return on equity)13 · sector 19
HEALTH (low debt)100 · sector 97
DIVIDEND (yield)50 · sector 33

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

Similar stocks

10 more Software - Infrastructure stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Microsoft Corporation MSFT $498.00 $547.80 +10%
Oracle Corporation ORCL $149.20 $117.84 −21%
Palantir Technologies Inc PLTR $184.99 $43.02 −77%
Palo Alto Networks, Inc PANW $374.57 $114.50 −69%
CrowdStrike Holdings CRWD $250.06 $35.15 −86%
Fortinet, Inc FTNT $174.26 $164.92 −5%
Synopsys, Inc SNPS $409.24 $250.04 −39%
Block, Inc XYZ $77.53 $101.29 +31%
CoreWeave, Inc CRWV $86.76 $71.79 −17%
NetApp, Inc NTAP $192.91 $157.18 −19%

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KB No.2 Special Purpose Acq · Fair Value
8,473 KRW +6%Fair Value
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Cite: Fair Value Calculator (2026). "KB No.2 Special Purpose Acq Fair Value". https://www.fairvalue-calculator.com/stock/192250

Frequently asked questions

Is KB No.2 Special Purpose Acq (192250) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 8,473 KRW versus a price of 7,960 KRW, about +6% upside (fairly valued).
What is the fair value of 192250?
Our model-based fair value for KB No.2 Special Purpose Acq is 8,473 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 7,960 KRW.
What is the quality score of 192250?
KB No.2 Special Purpose Acq has a Quality Score of 37/100. 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 KB No.2 Special Purpose Acq (192250)?
Our model-based price target is the fair value of 8,473 KRW (as of Sep 24, 2026) from 14 valuation models. Cautious scenario 6,253 KRW, optimistic scenario 11,130 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the KB No.2 Special Purpose Acq stock forecast for 2026?
Our models put fair value at 8,473 KRW, about +6% upside versus a price of 7,960 KRW (fairly valued). Cautious scenario 6,253 KRW, optimistic scenario 11,130 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of KB No.2 Special Purpose Acq (192250)?
KB No.2 Special Purpose Acq reported trailing-twelve-month revenue of about 49.4B KRW (latest available figure, as of Sep 24, 2026).
Does KB No.2 Special Purpose Acq pay a dividend?
KB No.2 Special Purpose Acq currently shows a dividend yield of about 2.51% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of KB No.2 Special Purpose Acq (192250)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For KB No.2 Special Purpose Acq it is 8,473 KRW per share (as of Sep 24, 2026), against a price of 7,960 KRW. It is the blended result of 14 valuation models (cash flow, earnings, asset, dividend).
Is KB No.2 Special Purpose Acq stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 192250 trades below its calculated fair value: price 7,960 KRW, fair value 8,473 KRW, a gap of about +6% (fairly valued). 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 192250?
No. The price is what the market pays today (7,960 KRW); the fair value is what the company's own numbers justify (8,473 KRW). For KB No.2 Special Purpose Acq the two are 512.78 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is KB No.2 Special Purpose Acq worth?
The market values KB No.2 Special Purpose Acq at about 54.5B KRW (market capitalisation, as of Sep 24, 2026). Per share that is 7,960 KRW; our models calculate a fair value of 8,473 KRW per share.
What do the bullish and bearish scenarios say about 192250?
Our models span a range for KB No.2 Special Purpose Acq: cautious scenario 6,253 KRW, base 8,473 KRW, optimistic 11,130 KRW per share (as of Sep 24, 2026, price 7,960 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of KB No.2 Special Purpose Acq (192250)?
Balance-sheet figures for KB No.2 Special Purpose Acq (as of Sep 24, 2026): return on equity 3.1%. They feed the Quality Score of 37/100, which measures business quality independently of the share price.
How far is 192250 from its 52-week high?
KB No.2 Special Purpose Acq trades at 7,960 KRW, about 50% below its 52-week high of 15,880 KRW and 21% above the low of 6,560 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 8,473 KRW is for.
Which stocks are comparable to KB No.2 Special Purpose Acq?
From the same area (Technology) we also value Microsoft Corporation, Oracle Corporation, Palantir Technologies Inc, Palo Alto Networks, Inc, 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 KB No.2 Special Purpose Acq stock attractive at the current price?
The data as of Sep 24, 2026: price 7,960 KRW, calculated fair value 8,473 KRW (+6%), Quality Score 37/100, from 14 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 192250 calculated?
We run KB No.2 Special Purpose Acq through 14 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 8,473 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. KB No.2 Special Purpose Acq currently trades 6 % 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 KB No.2 Special Purpose Acq (192250)?
The closing price on Sep 23, 2026 was 7,960 KRW. Our model-based fair value is 8,473 KRW, about +6% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with KB No.2 Special Purpose Acq right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Key figures of KB No.2 Special Purpose Acq

How large is the market capitalisation of KB No.2 Special Purpose Acq (192250)?
The market capitalisation of KB No.2 Special Purpose Acq is 54.5B KRW (≈ $38.1M). 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 KB No.2 Special Purpose Acq (192250)?
The price-to-sales ratio of KB No.2 Special Purpose Acq is 0.94 (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 KB No.2 Special Purpose Acq (192250)?
The dividend yield of KB No.2 Special Purpose Acq is 2.5%. 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 KB No.2 Special Purpose Acq (192250)?
The net margin of KB No.2 Special Purpose Acq is 5.0% (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 KB No.2 Special Purpose Acq (192250)?
The return on equity (ROE) of KB No.2 Special Purpose Acq is 3.1% (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 KB No.2 Special Purpose Acq (192250)?
On an EBIT basis the return on assets of KB No.2 Special Purpose Acq is 3.6% (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 KB No.2 Special Purpose Acq (192250)?
The operating margin of KB No.2 Special Purpose Acq is 3.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at KB No.2 Special Purpose Acq (192250)?
Revenue at KB No.2 Special Purpose Acq is growing +14.7% versus a year earlier (3y avg +3.9%). 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 KB No.2 Special Purpose Acq (192250)?
Earnings per share at KB No.2 Special Purpose Acq are growing +216% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does KB No.2 Special Purpose Acq (192250) generate?
The free cash flow of KB No.2 Special Purpose Acq is −10.3B 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 KB No.2 Special Purpose Acq (192250) carry?
The net debt of KB No.2 Special Purpose Acq is 14.1B 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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