Dream Security co., Ltd (203650) Fair Value & Analysis
Technology · KR · Market cap 291B KRW
Fair value as of: Jun 24, 2026
Analysis
Dream Security co., Ltd (203650) currently trades at 2,545 KRW, while our model-based Fair Value estimate is 1,472 KRW — implying the stock looks roughly 42.2% overvalued today. We read business quality at 87/100 (high 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).
About the company
Dream Security co., Ltd., an authentication security company, offers authentication and security solutions. It provides authentication, integrity, confidentiality, and non-repudiation through PKI infrastructure, such as Magic RootCA, Magic CA, Magic RA, Magic OCSP, Magic SCVP, Magic TSA, and Magic LTVS; cryptographic technologies, including verified cryptographic modules and quantum-resistant cryptography for quantum computer environments, which include Magic Crypto, Magic QCrypto, Magic TLS for PQC, and Magic QKMI; data security through encryption key management comprising key to key data encryption and decryption, Magic DBPlus, Magic KMS, and Magic CryptoBox; mobile security solutions to protect key information in the mobile environment and provide a secure smartphone environment through user authentication, such as Magic mVaccine, Magic TrustAPP, Magic vKeypad, Magic MRS, Magic xSign, Magic SE, and Magic mOTP; convenience, security, and efficiency through user authentication and …
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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.
Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.