Kyobo With Special Purpose Acq (205100) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Kyobo With Special Purpose Acq KRW 2,323, price KRW 1,378, upside +68.6%, quality 62 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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EXEM Co., Ltd. operates as an IT performance management and big data platform company Korea and internationally.
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EXEM Co., Ltd. operates as an IT performance management and big data platform company Korea and internationally. Its products include MaxGauge, a database performance management software; InterMax, a web application server DB integrated performance monitoring solution for application performance management; and CloudMOA, an integrated management solution of large-scale IT services in a hybrid cloud environment; XAIOps, an AI-based intelligent IT operation solution. The company offers EBIGs, a configuration, security, and operation solution; and KNIME a big data analysis solution. In addition, it provides DataSaker, an observability solution that monitors and analyzes software service development and operation. The company provides database, application, cloud, and diagnostics consulting services. EXEM Co., Ltd. was founded in 2001 and is headquartered in Seoul, South Korea.
Stock analysis
Kyobo With Special Purpose Acq (205100) currently trades at 1,378 KRW, while our model-based Fair Value estimate is 2,323 KRW, implying the stock looks roughly 40.7% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 2,323 KRW per share, and 17 of the 24 models we run sit above the 1,378 KRW price.
Bear case: the Earnings-Based group reads lowest at 710.22 KRW, and 7 of the 24 models stay below the price. Evidence for this calculation is low.
Scenario range: 1,626 KRW (bear) to 2,969 KRW (bull), the price of 1,378 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 62/100 (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.
Kyobo With Special Purpose Acq reported revenue of 47.8B KRW in FY2025 versus 47.3B KRW in FY2021, a compound +0.2%/yr. Reported net income was 6.6B KRW in FY2025, compounding −11.4%/yr from FY2021.
Key figures
Market cap 98.5B KRW (≈ $68.9M) · P/S ratio 2.16 · Dividend yield 3.0% · Net margin 13.8% · Return on equity 8.6% · Return on assets (EBIT) 7.2% · Operating margin −20.0% · Revenue (TTM) 49.3B 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 43% below its 52-week high and 9% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −13% fair-value upside, at 69%, 205100 screens cheaper than that median.
Fair Value models
Bear 1,626 KRWFair Value 2,323 KRWBull 2,969 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
−22.0%
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.
−4.7%
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.
+4.0%
Start year 2020 (pandemic). Over 10 years: +8.7% a year
Revenue growth 10 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.
+8.7%
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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.
−7.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year−10.0%
Dividend (yield on the price)3.0%
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.−10% vs 1%, slowing
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.25% → 8%
Start year 2020 (pandemic)
⚠ Revenue per share shrinking 3.9%/yr over ~7Y (margins eroding too) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
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).
−5.8%
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 −7.7% a year for the price.
Compare Kyobo With Special Purpose Acq with another stock
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.Software - Application · 721 stocks
Beats the industry median on 9/10 measures
Overall it ranks above its industry peers.
Valuation
Quality Score62 · Above median
Fair Value upside+69% · Top 25%
Profitability
Return on equity (TTM)9% · Above median
Return on assets2% · Above median
Net margin (TTM)25% · Top 25%
Operating margin (TTM)−20% · Bottom 25%
Growth and dividend
Revenue growth15% · Above median
Dividend yield (TTM)3.0% · Above median
Balance sheet
Debt / equity0.00× · Lowest 25%
Valuation Multiplesvs Software - Application median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Kyobo With Special Purpose Acq Fair Value". https://www.fairvalue-calculator.com/stock/205100
Frequently asked questions
Is Kyobo With Special Purpose Acq (205100) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 2,323 KRW versus a price of 1,378 KRW, about +69% upside (undervalued).
What is the fair value of 205100?
Our model-based fair value for Kyobo With Special Purpose Acq is 2,323 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 1,378 KRW.
What is the quality score of 205100?
Kyobo With Special Purpose Acq has a Quality Score of 62/100. 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 Kyobo With Special Purpose Acq (205100)?
Our model-based price target is the fair value of 2,323 KRW (as of Sep 24, 2026) from 24 valuation models. Cautious scenario 1,626 KRW, optimistic scenario 2,969 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Kyobo With Special Purpose Acq stock forecast for 2026?
Our models put fair value at 2,323 KRW, about +69% upside versus a price of 1,378 KRW (undervalued). Cautious scenario 1,626 KRW, optimistic scenario 2,969 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Kyobo With Special Purpose Acq (205100)?
Kyobo With Special Purpose Acq reported trailing-twelve-month revenue of about 49.3B KRW (latest available figure, as of Sep 24, 2026).
Does Kyobo With Special Purpose Acq pay a dividend?
Kyobo With Special Purpose Acq currently shows a dividend yield of about 3.05% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Kyobo With Special Purpose Acq (205100)?
For today's price to be fair in a discounted-cash-flow model, Kyobo With Special Purpose Acq would have to grow free cash flow by -5.8 % per year for five years (discount rate 11.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +4.0 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 205100 use?
Our models discount Kyobo With Special Purpose Acq at 11.6 %: a base by market capitalisation (micro), damped by beta 0.22, 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 Kyobo With Special Purpose Acq that is -5.8 % per year a year over ten years, using the same discount rate (11.6 %) and the same formula as our fair value.
How much growth has Kyobo With Special Purpose Acq (205100) delivered so far?
Over the past 5 years revenue at Kyobo With Special Purpose Acq grew +4.0 % a year. The price currently implies -5.8 % 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 Kyobo With Special Purpose Acq (205100) growing?
The median revenue growth in the sector is +8.2 % a year. That is the yardstick for the growth priced into Kyobo With Special Purpose Acq (-5.8 % 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 Kyobo With Special Purpose Acq (205100)?
The free-cash-flow yield on the price is 9.91 %: that much free cash flow Kyobo With Special Purpose Acq produces per unit of market value. When it exceeds the discount rate of our models (11.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Kyobo With Special Purpose Acq (205100)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Kyobo With Special Purpose Acq it is 2,323 KRW per share (as of Sep 24, 2026), against a price of 1,378 KRW. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Kyobo With Special Purpose Acq stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 205100 trades below its calculated fair value: price 1,378 KRW, fair value 2,323 KRW, a gap of about +69% (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 205100?
No. The price is what the market pays today (1,378 KRW); the fair value is what the company's own numbers justify (2,323 KRW). For Kyobo With Special Purpose Acq the two are 945.09 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Kyobo With Special Purpose Acq worth?
The market values Kyobo With Special Purpose Acq at about 98.5B KRW (market capitalisation, as of Sep 24, 2026). Per share that is 1,378 KRW; our models calculate a fair value of 2,323 KRW per share.
What do the bullish and bearish scenarios say about 205100?
Our models span a range for Kyobo With Special Purpose Acq: cautious scenario 1,626 KRW, base 2,323 KRW, optimistic 2,969 KRW per share (as of Sep 24, 2026, price 1,378 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Kyobo With Special Purpose Acq (205100)?
Balance-sheet figures for Kyobo With Special Purpose Acq (as of Sep 24, 2026): return on equity 8.6%, debt of 0.00 per unit of equity. They feed the Quality Score of 62/100, which measures business quality independently of the share price.
How far is 205100 from its 52-week high?
Kyobo With Special Purpose Acq trades at 1,378 KRW, about 43% below its 52-week high of 2,420 KRW and 9% above the low of 1,261 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 2,323 KRW is for.
Which stocks are comparable to Kyobo With Special Purpose Acq?
From the same area (Technology) we also value SAP SE, Shopify Inc, Uber Technologies, Inc, Salesforce, 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 Kyobo With Special Purpose Acq stock attractive at the current price?
The data as of Sep 24, 2026: price 1,378 KRW, calculated fair value 2,323 KRW (+69%), Quality Score 62/100, from 24 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 205100 calculated?
We run Kyobo With Special Purpose Acq through 24 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 2,323 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 13.2 % above its aggregate fair value. Kyobo With Special Purpose Acq currently trades 69 % 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 Kyobo With Special Purpose Acq (205100)?
The closing price on Sep 23, 2026 was 1,378 KRW. Our model-based fair value is 2,323 KRW, about +69% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Kyobo With Special Purpose Acq right now?
The price is below even our cautious bear case (1,626 KRW). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (62/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (1,626 KRW to 2,969 KRW) leaves room in how you read the outcome.
Key figures of Kyobo With Special Purpose Acq
How large is the market capitalisation of Kyobo With Special Purpose Acq (205100)?
The market capitalisation of Kyobo With Special Purpose Acq is 98.5B KRW (≈ $68.9M). 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 Kyobo With Special Purpose Acq (205100)?
The price-to-sales ratio of Kyobo With Special Purpose Acq is 2.16 (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 Kyobo With Special Purpose Acq (205100)?
The dividend yield of Kyobo With Special Purpose Acq is 3.0%. 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 Kyobo With Special Purpose Acq (205100)?
The net margin of Kyobo With Special Purpose Acq is 13.8% (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 Kyobo With Special Purpose Acq (205100)?
The return on equity (ROE) of Kyobo With Special Purpose Acq is 8.6% (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 Kyobo With Special Purpose Acq (205100)?
On an EBIT basis the return on assets of Kyobo With Special Purpose Acq is 7.2% (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 Kyobo With Special Purpose Acq (205100)?
The operating margin of Kyobo With Special Purpose Acq is −20.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Kyobo With Special Purpose Acq (205100)?
Revenue at Kyobo With Special Purpose Acq is growing +15.4% versus a year earlier (3y avg −4.7%). 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 Kyobo With Special Purpose Acq (205100)?
Earnings per share at Kyobo With Special Purpose Acq are growing +164% versus a year earlier. How much earnings per share grew versus a year earlier.
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