Itcenpns Co.,Ltd. (232830) Fair Value & Analysis
Technology · KR · Market cap 22.2B KRW
Strengths
Risks
Fair value as of: Aug 19, 2026
From 10 valuation models · updated yesterday
Share price +29.0% over the past month.
Below-average quality, and screening another 39% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (1,487 KRW). The favourable scenario is already priced in.
- Weak quality (36/100) and above fair value at the same time, the margin of safety is missing on both counts.
- A fairly wide model range (682.43 KRW to 1,487 KRW) leaves room in how you read the outcome.
Price vs Fair Value (3 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 19, 2026.
How to read this chart
38‑month range 1,268 KRW – 9,150 KRW · fair‑value band 682.43 KRW – 1,487 KRW · the 1,773 KRW price screens above the 1,085 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 19, 2026.
Analysis
Itcenpns Co.,Ltd. (232830) currently trades at 1,773 KRW, while our model-based Fair Value estimate is 1,085 KRW, implying the stock looks roughly 38.8% overvalued today. The Quality Score stands at 36/100 (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, Itcenpns Co.,Ltd. generated revenue of 268B KRW at a net margin of -1.8%. Revenue declined 3.6% year over year. It earns a return on equity of -29.4%. Net debt stands at 8.7B KRW. Fundamentals as of Aug 19, 2026
Our scenario range runs from 682.43 KRW (bear case) to 1,487 KRW (bull case); at 1,773 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 68% below its 52-week high, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -59% fair-value upside, at -39%, 232830 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.
All 10 models by family
Widest divergence: Growth DCF (15,811 KRW) versus Asset-Based (644.32 KRW). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 19, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 39 · Market factors (momentum, volatility) 20
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
Itcenpns Co.,Ltd., a security platform company, develops security and biometric solutions. It provides biometric authentication and electronic signature platform services; mobile security, data/network security, and security consulting solutions and services; and digital financial services. The company was formerly known as Secucen Co., Ltd.
Full company description
Itcenpns Co.,Ltd., a security platform company, develops security and biometric solutions. It provides biometric authentication and electronic signature platform services; mobile security, data/network security, and security consulting solutions and services; and digital financial services. The company was formerly known as Secucen Co., Ltd. and changed its name to Itcenpns Co.,Ltd. in May 2025. Itcenpns Co.,Ltd. was founded in 2011 and is based in Seoul, South Korea.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Itcenpns Co.,Ltd. reported revenue of 270B KRW in FY2025 versus 21.9B KRW in FY2021, a compound +87.3%/yr. Reported net income was −4.5B KRW in FY2025.
232830 screens 39% overvalued. Compare with Microsoft Corporation →
Peer Group
Software - Infrastructure · 375 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.
Valuation Multiples vs Software - Infrastructure median · lower = cheaper
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: 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.
Similar stocks
10 more Software - Infrastructure stocks, each showing price versus our Fair Value estimate (as of Aug 19, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Microsoft Corporation MSFT | $506.06 | $365.74 | -28% |
| Oracle Corporation ORAC | C$7.22 | C$2.34 | -68% |
| Fortinet, Inc FTNT | $152.85 | $61.46 | -60% |
| Synopsys, Inc 1SNPS | €347.50 | €90.31 | -74% |
| Block, Inc XYZ | A$111.01 | A$70.69 | -36% |
| Range Intelligent Computing Technology Group 300442 | ¥67.70 | ¥30.89 | -54% |
| Oracle Financial Services Software Limited OFSS | ₹11,679 | ₹6,897 | -41% |
| 360 Security Technology Inc 601360 | ¥9.58 | ¥1.05 | -89% |
| One97 Communications Limited PAYTM | ₹1,546 | ₹241.68 | -84% |
| PT GoTo Gojek Tokopedia Tbk GOTO | 50.00 IDR | 20.41 IDR | -59% |
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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.
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