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i3system Inc (214430) Fair Value & Analysis

Technology · KR · Market cap 426B KRW

II i3system Inc 214430 · KQ
Price74,300 KRW
Fair Value29,034 KRW
Upside-60.9%
Quality49/100
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Expensive Growth
Solidly profitable · 13.5% net margin
Low debt · generates free cash flow
0.77% dividend yield
Ranks above peers (7/10)
Moderate moat 56/100
Evidence: High Range 18,292 KRW – 52,744 KRW Share as image

Fair value as of: Jul 20, 2026

From 24 valuation models · updated 20 days ago

Fair value updated Jul 20, 2026, revised from 29,939 KRW to 29,034 KRW (−3.0%) since Jul 7, 2026. Share price +23.0% over the past month.

Below-average quality, and screening another 61% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (52,744 KRW). The favourable scenario is already priced in.
  • The model range is unusually wide (18,292 KRW to 52,744 KRW). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Solid but not exceptional quality (49/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

130,000 KRW 15,173 KRW Fair Value 29,034 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 15,173 KRW – 130,000 KRW · fair‑value band 18,292 KRW – 52,744 KRW · the 74,300 KRW price screens above the 29,034 KRW fair value. Dashed = 300-day average. As of Jul 20, 2026.

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Analysis

i3system Inc (214430) currently trades at 74,300 KRW, while our model-based Fair Value estimate is 29,034 KRW, implying the stock looks roughly 60.9% overvalued today. The Quality Score stands at 49/100 (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: high).

Over the trailing twelve months, i3system Inc generated revenue of 69.6B KRW at a net margin of 13.5%. Revenue grew 30.8% year over year. It earns a return on equity of 15.7%. Fundamentals as of Jul 20, 2026

Our scenario range runs from 18,292 KRW (bear case) to 52,744 KRW (bull case); at 74,300 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 46% below its 52-week high and 24% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -73% fair-value upside, at -61%, 214430 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 7,254 KRW 12,322 KRW 21,136 KRW 80
Residual Income 18,675 KRW 23,797 KRW 60,870 KRW 76
Rev-Margin DCF 16,100 KRW 29,391 KRW 45,739 KRW 74
All 24 models by family
DCF Models
FCF DCF 7,212 KRW 12,432 KRW 21,466 KRW 38
Owner Earnings 15,390 KRW 26,727 KRW 46,350 KRW 31
5Y Revenue Exit 16,100 KRW 29,887 KRW 48,548 KRW 39
5Y EBITDA Exit 19,949 KRW 37,525 KRW 59,286 KRW 41
5Y P/E Exit 26,415 KRW 50,354 KRW 77,197 KRW 38
10Y Revenue Exit 12,391 KRW 24,646 KRW 43,165 KRW 36
10Y EBITDA Exit 15,662 KRW 30,250 KRW 52,030 KRW 37
10Y P/E Exit 19,978 KRW 39,663 KRW 66,816 KRW 35
Earnings-Based
Graham-Dodd 17,480 KRW 70,325 KRW 95,640 KRW 54
Lynch FV 17,526 KRW 25,037 KRW 32,548 KRW 50
PEG = 1.0 17,526 KRW 25,037 KRW 32,548 KRW 46
EPV 20,503 KRW 24,080 KRW 27,260 KRW 59
Multiples
P/E Multiple 38,558 KRW 51,410 KRW 64,263 KRW 63
P/S Multiple 31,889 KRW 42,518 KRW 53,148 KRW 58
P/B Multiple 32,774 KRW 43,699 KRW 54,623 KRW 55
EV/EBIT 30,638 KRW 40,774 KRW 50,909 KRW 53
EV/EBITDA 28,386 KRW 37,771 KRW 47,156 KRW 54
EV/Revenue 20,728 KRW 29,512 KRW 38,296 KRW 43
Asset-Based
NCAV (Graham) 9,561 KRW 12,812 KRW 19,122 KRW 50
Growth DCF
Growth DCF 7,254 KRW 12,322 KRW 21,136 KRW 80
Rev-Margin DCF 16,100 KRW 29,391 KRW 45,739 KRW 74
Economic Profit
Residual Income 18,675 KRW 23,797 KRW 60,870 KRW 76
ROIC Compounder 21,130 KRW 28,601 KRW 39,467 KRW 72
Growth Earnings
Growth-Adj P/E 29,818 KRW 42,597 KRW 55,376 KRW 68

Widest divergence: Growth Earnings (42,597 KRW) versus Growth DCF (12,322 KRW). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 69.6B KRW
Revenue growth (YoY) +30.8%
Net margin 13.5%
Return on equity 15.7%
Free cash flow 3.9B KRW FY2025
Operating margin 12.8%
More key figures
Dividend yield 0.6%
EPS growth (YoY) +196%

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

Quality Score breakdown

Overall quality 49/100

Of which business quality 50 · Market factors (momentum, volatility) 11

Profitability 52
Margins and returns on capital today
Quality Growth 38
Are margins and returns improving?
Cashflow 30
Earnings quality: real cash, not paper profit
Fin. Strength 83
Balance sheet, leverage, solvency risk
Investment 17
Disciplined investing over empire-building
Low Volatility 19
Calm price path (market factor)
Momentum 4
Price trend over the last 3–12 months (market factor)
52W Momentum 12
Distance to the 52-week high (market factor)
Net Issuance 66
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

i3system Inc. develops, manufactures, and sells thermal imaging and X-ray detectors in Korea. The company offers cooled and uncooled detectors; InGaAs(SWIR); and cephalometric and panoramic X-ray products.

Full company description

i3system Inc. develops, manufactures, and sells thermal imaging and X-ray detectors in Korea. The company offers cooled and uncooled detectors; InGaAs(SWIR); and cephalometric and panoramic X-ray products. It also manufactures uncooled IR detectors for uncooled thermal imaging cameras for commercial products, such as security, surveillance, radiometry devices, and night vision systems, as well as military product for personal rifle; and IR scene projector, real time scene simulator, IR camera, and laser detector for military. The company was founded in 1998 and is headquartered in Daejeon, South Korea.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

i3system Inc reported revenue of 124B KRW in FY2025 versus 79.7B KRW in FY2021, a compound +11.7%/yr. Reported net income was 18.8B KRW in FY2025, compounding +53.8%/yr from FY2021.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
124B KRW
Latest YoY
+3.0%
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.
+14.0%
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.
+13.3%
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.
+13.5%
Revenue +11.7%/yr
FY21 79.7B KRW
FY22 83.8B KRW
FY23 122B KRW
FY24 121B KRW
FY25 124B KRW
Net income +53.8%/yr
FY21 3.4B KRW
FY22 6.2B KRW
FY23 12.6B KRW
FY24 15.0B KRW
FY25 18.8B KRW

214430 screens 61% overvalued. Compare with Delta Electronics, Inc →

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Cite: Fair Value Calculator (2026). "i3system Inc Fair Value". https://www.fairvalue-calculator.com/stock/214430

Peer Group

Electronic Components · 625 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 49 · Below median
Fair Value upside −61% · Below median
Return on equity (TTM) 16% · Top 25%
Return on assets 7% · Top 25%
Net margin (TTM) 13% · Top 25%
Operating margin (TTM) 13% · Top 25%
Revenue growth 31% · Top 25%
Dividend yield (TTM) 0.8% · Below median
Debt / equity 0.06× · Lower than median

Valuation Multiples vs Electronic Components median · lower = cheaper

P/FCF 0.1× · Cheaper than 75% of peers

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 0 · sector 0
FUTURE 100 · sector 32
PAST 63 · sector 24
HEALTH 97 · sector 95
DIVIDEND 15 · sector 25

VALUE 0: the price sits above our fair-value range.

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

Stock Price Fair Value vs Fair Value
Delta Electronics, Inc 2308 1,880 TWD 515.23 TWD -73%
Hon Hai Precision Industry Co 2317 242.50 TWD 270.47 TWD +12%
Luxshare Precision Industry Co 002475 ¥62.14 ¥38.44 -38%
Samsung Electro-Mechanics Co 009150 1,260,000 KRW 166,421 KRW -87%
Elite Material Co 2383 4,990 TWD 714.36 TWD -86%
Yageo Corporation 2327 699.00 TWD 216.55 TWD -69%
Shengyi Technology Co 600183 ¥132.29 ¥27.45 -79%
Shennan Circuits Co 002916 ¥364.00 ¥93.50 -74%
Victory Giant Technology (HuiZhou) Co 2476 HK$297.00 HK$103.98 -65%
Wus Printed Circuit (Kunshan) Co 002463 ¥127.80 ¥31.95 -75%

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Frequently asked questions

Is i3system Inc (214430) overvalued or undervalued?
As of Jul 20, 2026, our model estimates a fair value of 29,034 KRW versus a price of 74,300 KRW, about −61% (overvalued).
What is the fair value of 214430?
Our model-based fair value for i3system Inc is 29,034 KRW (as of Jul 20, 2026), built from audited fundamentals. The current price is 74,300 KRW.
What is the quality score of 214430?
i3system Inc has a Quality Score of 49/100. 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 i3system Inc (214430)?
i3system Inc reported trailing-twelve-month revenue of about 69.6B KRW (latest available figure, as of Jul 20, 2026).
What is the net profit margin of 214430?
The net profit margin of i3system Inc is about 13.5%, meaning it keeps roughly 13.5% of revenue as net income. Based on the latest reported figures.
Does i3system Inc pay a dividend?
i3system Inc currently shows a dividend yield of about 0.61% 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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