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KSIGN Co (192250) Fair Value & Analysis

Technology · KR · Market cap 46.6B KRW

KC KSIGN Co 192250 · KQ
Price8,040 KRW
Fair Value6,727 KRW
Upside-16.3%
Quality37/100
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Expensive Growth
Thin margins · 6.9% net margin
Low debt · negative free cash flow
2.81% dividend yield
Ranks above peers (6/9)
Narrow moat 31/100
Evidence: Medium Range 4,675 KRW – 8,009 KRW Share as image

Fair value as of: Jul 20, 2026

From 14 valuation models · updated 20 days ago

Share price +9.7% over the past month.

Below-average quality, and screening another 16% overvalued on our models.

What matters now

  • Weak quality (37/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • Our model range runs from 4,675 KRW (bear) to 8,009 KRW (bull), base 6,727 KRW. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 37/100 (below-average quality) with medium evidence: read the verdict with care.
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Price vs Fair Value (5 years)

31,509 KRW 6,330 KRW Fair Value 6,727 KRW Feb 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 6,330 KRW – 31,509 KRW · fair‑value band 4,675 KRW – 8,009 KRW · the 8,040 KRW price screens above the 6,727 KRW fair value. Dashed = 300-day average. As of Jul 20, 2026.

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Analysis

KSIGN Co (192250) currently trades at 8,040 KRW, while our model-based Fair Value estimate is 6,727 KRW, implying the stock looks roughly 16.3% overvalued today. The Quality Score stands at 37/100 (below-average 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, KSIGN Co generated revenue of 49.4B KRW at a net margin of 6.9%. Revenue grew 14.7% year over year. It earns a return on equity of 3.1%. Net debt stands at 14.1B KRW. Fundamentals as of Jul 20, 2026

Our scenario range runs from 4,675 KRW (bear case) to 8,009 KRW (bull case); at 8,040 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 50% below its 52-week high and 1% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -50% fair-value upside, at -16%, 192250 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
Residual Income 9,857 KRW 9,486 KRW 7,825 KRW 76
ROIC Compounder 9,661 KRW 10,012 KRW 10,320 KRW 72
Growth-Adj P/E 4,709 KRW 6,727 KRW 8,745 KRW 68
All 14 models by family
Earnings-Based
Graham-Dodd 2,493 KRW 8,419 KRW 11,284 KRW 54
Lynch FV 1,923 KRW 2,747 KRW 3,570 KRW 50
PEG = 1.0 1,923 KRW 2,747 KRW 3,570 KRW 46
EPV 9,661 KRW 10,012 KRW 10,320 KRW 59
Multiples
P/E Multiple 5,500 KRW 7,334 KRW 9,167 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 13,530 KRW 15,523 KRW 17,515 KRW 53
EV/EBITDA 16,547 KRW 19,545 KRW 22,543 KRW 54
EV/Revenue 11,582 KRW 13,309 KRW 15,035 KRW 43
Asset-Based
NCAV (Graham) 6,873 KRW 9,210 KRW 13,746 KRW 50
Economic Profit
Residual Income 9,857 KRW 9,486 KRW 7,825 KRW 76
ROIC Compounder 9,661 KRW 10,012 KRW 10,320 KRW 72
Growth Earnings
Growth-Adj P/E 4,709 KRW 6,727 KRW 8,745 KRW 68

Widest divergence: Economic Profit (9,486 KRW) versus Earnings-Based (2,747 KRW). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 49.4B KRW
Revenue growth (YoY) +14.7%
Net margin 6.9%
Return on equity 3.1%
Free cash flow −10.3B KRW FY2025
Operating margin 3.1%
More key figures
Dividend yield 2.8%
EPS growth (YoY) +216%
Net debt 14.1B KRW FY2025

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

Quality Score breakdown

Overall quality 37/100

Of which business quality 38 · Market factors (momentum, volatility) 15

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 35
Calm price path (market factor)
Momentum 5
Price trend over the last 3–12 months (market factor)
52W Momentum 10
Distance to the 52-week high (market factor)
Net Issuance 75
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

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 …

Full company description

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.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

KSIGN Co 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.

Growth Quality 28/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
48.4B KRW
Latest YoY
−6.7%
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.
+3.9%
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.
+6.5%
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.
+5.8%
Revenue +6.7%/yr
FY21 37.3B KRW
FY22 43.2B KRW
FY23 47.1B KRW
FY24 51.9B KRW
FY25 48.4B KRW
Net income −19.6%/yr
FY21 5.7B KRW
FY22 5.0B KRW
FY23 4.6B KRW
FY24 1.7B KRW
FY25 2.4B KRW

192250 screens 16% overvalued. Compare with Microsoft Corporation →

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Cite: Fair Value Calculator (2026). "KSIGN Co Fair Value". https://www.fairvalue-calculator.com/stock/192250

Peer Group

Software - Infrastructure · 370 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 37 · Bottom 25%
Fair Value upside −16% · Above median
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
Revenue growth 15% · Above median
Dividend yield (TTM) 2.8% · 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 12 · sector 0
FUTURE 74 · sector 46
PAST 13 · sector 15
HEALTH 100 · sector 98
DIVIDEND 56 · sector 28

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 Software - Infrastructure stocks, each showing price versus our Fair Value estimate (as of Jul 20, 2026).

Stock Price Fair Value vs Fair Value
Microsoft Corporation MSFT $384.00 $274.17 -29%
Oracle Corporation ORAC C$9.08 C$2.94 -68%
Fortinet, Inc FTNT $160.78 $44.96 -72%
Synopsys, Inc 1SNPS €354.50 €93.61 -74%
Block, Inc XYZ A$114.53 A$70.69 -38%
CoreWeave, Inc CRWV $79.94 $44.89 -44%
Range Intelligent Computing Technology Group 300442 ¥71.60 ¥34.00 -53%
Oracle Financial Services Software Limited OFSS ₹11,651 ₹5,821 -50%
360 Security Technology Inc 601360 ¥9.64 ¥5.05 -48%
One97 Communications Limited PAYTM ₹1,342 ₹181.50 -86%

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Frequently asked questions

Is KSIGN Co (192250) overvalued or undervalued?
As of Jul 20, 2026, our model estimates a fair value of 6,727 KRW versus a price of 8,040 KRW, about −16% (overvalued).
What is the fair value of 192250?
Our model-based fair value for KSIGN Co is 6,727 KRW (as of Jul 20, 2026), built from audited fundamentals. The current price is 8,040 KRW.
What is the quality score of 192250?
KSIGN Co 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 revenue of KSIGN Co (192250)?
KSIGN Co reported trailing-twelve-month revenue of about 49.4B KRW (latest available figure, as of Jul 20, 2026).
What is the net profit margin of 192250?
The net profit margin of KSIGN Co is about 6.9%, meaning it keeps roughly 6.9% of revenue as net income. Based on the latest reported figures.
Does KSIGN Co pay a dividend?
KSIGN Co currently shows a dividend yield of about 2.42% 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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