Settlebank Corporation (234340) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of Settlebank Corporation stock KRW 17,162, price KRW 15,760, upside +8.9%, quality 51 out of 100. Rating: fairly valued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 9, 2026.
How to read this chart
60‑month range 8,061 KRW – 40,300 KRW · fair‑value band 12,871 KRW – 21,452 KRW · the 15,760 KRW price screens below the 17,162 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 9, 2026.
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Hecto Financial Co., Ltd., a fintech company, provides fintech platform services in South Korea.
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The company offers cash payment, PG electronic payment, kiosk payment, bulk transfer, virtual account, and G banking services, as well as depositor name inquiry, deposit transaction history inquiry, SMS sending agency, and cash receipt issuance agency services.
It also provides technical and customer support services. In addition, the company engages in management consulting and intellectual property license business; wholesaling other daily necessities; developing and suppling system software; and provision of databases and online information services.
The company was formerly known as Settlebank Corporation and changed its name to Hecto Financial Co., Ltd. in June 2022. Hecto Financial Co., Ltd. was incorporated in 2000 and is headquartered in Seoul, South Korea.
Stock analysis
Settlebank Corporation (234340) currently trades at 15,760 KRW, while our model-based Fair Value estimate is 17,162 KRW, so the stock looks roughly fairly valued today (gap 8.2%).
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Valuation
Bull case: the Growth DCF group reads highest at a median of 62,748 KRW per share, and 17 of the 26 models we run sit above the 15,760 KRW price.
Bear case: the Dividend Discount group reads lowest at 1,820 KRW, and 9 of the 26 models stay below the price. Data coverage for this calculation is medium.
Scenario range: 12,871 KRW (bear) to 21,452 KRW (bull), the price of 15,760 KRW sits inside 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 51/100 (solid quality), in the Technology sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Settlebank Corporation reported revenue of 187B KRW in FY2025 versus 110B KRW in FY2021, a compound +14.2%/yr. Reported net income was 9.3B KRW in FY2025, compounding −18.4%/yr from FY2021.
Key figures
Market cap 220B KRW (≈ $163M) Micro · P/E ratio 14.5 · P/S ratio 1.11 · EPS (TTM) 1,092 KRW · Dividend yield 1.4% · Net margin 7.4% · Return on equity 7.7% · Return on assets (EBIT) 3.9% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 41 out of 100 (low confidence).
What moves the price
The share trades about 61% below its 52-week high and 8% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −11% fair-value upside, at 9%, 234340 screens cheaper than that median.
Fair Value models
Bear12,871 KRWFair Value 17,162 KRWBull21,452 KRW
Price 15,760 KRW · Upside +8.9%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (747.57 KRW per share) are deliberately not added.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = 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.
Best data coverage
FCF DCF55,343 KRW71,868 KRW108,228 KRW80
Growth DCF53,793 KRW73,361 KRW102,090 KRW79
Owner Earnings30,766 KRW39,096 KRW51,824 KRW78
All 26 models by family
DCF Models
FCF DCF55,343 KRW71,868 KRW108,228 KRW80
Owner Earnings30,766 KRW39,096 KRW51,824 KRW78
5Y Revenue Exit40,693 KRW51,308 KRW66,493 KRW74
5Y EBITDA Exit38,779 KRW47,054 KRW57,856 KRW77
5Y P/E Exit38,672 KRW47,349 KRW56,874 KRW72
10Y Revenue Exit46,483 KRW58,964 KRW74,247 KRW68
10Y EBITDA Exit45,716 KRW56,428 KRW71,534 KRW70
10Y P/E Exit45,661 KRW56,285 KRW70,856 KRW65
Earnings-Based
Graham-Dodd4,573 KRW29,277 KRW40,932 KRW63
Lynch FV8,479 KRW12,113 KRW15,747 KRW61
PEG = 1.08,479 KRW12,113 KRW15,747 KRW57
EPV24,700 KRW25,231 KRW25,645 KRW74
Dividend Discount
Gordon GGM1,208 KRW1,824 KRW2,205 KRW69
DDM Multi-Stage1,208 KRW1,816 KRW1,977 KRW67
Multiples
P/E Multiple7,062 KRW9,416 KRW11,770 KRW63
P/S Multiple8,575 KRW11,434 KRW14,292 KRW58
P/B Multiple15,143 KRW20,190 KRW25,238 KRW55
EV/EBIT27,635 KRW30,460 KRW33,284 KRW66
EV/EBITDA26,434 KRW28,858 KRW31,282 KRW67
EV/Revenue29,443 KRW33,849 KRW38,255 KRW54
Asset-Based
NCAV (Graham)2,960 KRW4,485 KRW5,606 KRW54
Growth DCF
Growth DCF53,793 KRW73,361 KRW102,090 KRW79
Rev-Margin DCF40,693 KRW52,136 KRW68,398 KRW74
Economic Profit
Residual Income7,495 KRW7,465 KRW7,881 KRW76
ROIC Compounder24,700 KRW25,231 KRW25,645 KRW72
Growth Earnings
Growth-Adj P/E10,200 KRW14,571 KRW18,943 KRW67
The fair value above starts from this blend and is adjusted for dilution from new shares.
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.90/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+17.7%
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.
+13.2%
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.
+19.1%
Start year 2020 (pandemic)
Revenue growth 8 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.
+21.6%
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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. Basis: EBIT basis. 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.
−3.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year−5.2%
Dividend (yield on the price)1.4%
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.14% → 8%
Growth Forecast
Little optimism in the price
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).
less than -40 %
The company could shrink this much every year for the next five years and today's price would still be justified.
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 - Infrastructure · 346 stocks
Beats the industry median on 9/12 measures
Overall it ranks above its industry peers.
Valuation
Quality Score51 · Below median
Fair Value upside+5.6% · Above median
Profitability
Return on equity (12 months)7.7% · Above median
Return on assets1.8% · Below median
Net margin (12 months)7.4% · Above median
Operating margin (12 months)9.2% · Above median
Growth and dividend
Revenue growth (quarter YoY)12.6% · Above median
Dividend yield (12 months)1.4% · Below median
Valuation Multiplesvs Software - Infrastructure median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Settlebank Corporation Fair Value". https://www.fairvalue-calculator.com/stock/234340
Frequently asked questions
Is Settlebank Corporation (234340) overvalued or undervalued?
As of Nov 9, 2026, our model estimates a fair value of 17,162 KRW versus a price of 15,760 KRW, about +9% upside (fairly valued).
What is the fair value of 234340?
Our model-based fair value for Settlebank Corporation is 17,162 KRW (as of Nov 9, 2026), built from audited fundamentals. The current price: 15,760 KRW.
What is the quality score of 234340?
Settlebank Corporation has a Quality Score of 51/100. 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 Settlebank Corporation (234340)?
Our model-based price target is the fair value of 17,162 KRW (as of Nov 9, 2026) from 26 valuation models. Cautious scenario 12,871 KRW, optimistic scenario 21,452 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Settlebank Corporation stock forecast for 2026?
Our models put fair value at 17,162 KRW, about +9% upside versus a price of 15,760 KRW (fairly valued). Cautious scenario 12,871 KRW, optimistic scenario 21,452 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Settlebank Corporation (234340)?
Settlebank Corporation reported trailing-twelve-month revenue of about 205B KRW (latest available figure, as of Nov 9, 2026).
Does Settlebank Corporation pay a dividend?
Settlebank Corporation currently shows a dividend yield of 1.40% relative to its recent price (as of Nov 9, 2026).
How much is the dividend of Settlebank Corporation (234340) and when is the ex-dividend date?
Settlebank Corporation pays a dividend of 220.00 KRW per share a year, a dividend yield of 1.4%. The last ex-dividend date was Dec 29, 2025. A dividend has been paid every year since at least 2019. The payout ratio is 20.2% of earnings. Free cash flow covers the dividend 19.35 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
What growth is priced into Settlebank Corporation (234340)?
For today's price to be fair in a discounted-cash-flow model, Settlebank Corporation would have to grow free cash flow by less than minus 40 % per year for five years (discount rate 15.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +19.1 % per year. As of Nov 9, 2026.
What discount rate (WACC) does the fair value of 234340 use?
Our models discount Settlebank Corporation at 15.6 %: a base by market capitalisation (micro), damped by beta 1.82, 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 Settlebank Corporation that is less than minus 40 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (15.6 %) and the same formula as our fair value.
How much growth has Settlebank Corporation (234340) delivered so far?
Over the past 5 years revenue at Settlebank Corporation grew +19.1 % a year. The price currently implies free-cash-flow growth of less than minus 40 % per 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 Settlebank Corporation (234340) growing?
The median revenue growth in the sector is +14.3 % a year. That is the yardstick for the growth priced into Settlebank Corporation (less than minus 40 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Settlebank Corporation (234340)?
The free-cash-flow yield on the price is 27.49 %: that much free cash flow Settlebank Corporation produces per unit of market value. When it exceeds the discount rate of our models (15.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Settlebank Corporation (234340)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Settlebank Corporation it is 17,162 KRW per share (as of Nov 9, 2026), against a price of 15,760 KRW. It is the blended result of 26 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Settlebank Corporation stock overvalued or undervalued in 2026?
As of Nov 9, 2026, 234340 trades below its calculated fair value: price 15,760 KRW, fair value 17,162 KRW, a gap of about +9% (fairly valued). 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 234340?
No. The price is what the market pays today (15,760 KRW); the fair value is what the company's own numbers justify (17,162 KRW). For Settlebank Corporation the two are 1,402 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Settlebank Corporation worth?
The market values Settlebank Corporation at about 220B KRW (market capitalisation, as of Nov 9, 2026). Per share that is 15,760 KRW; our models calculate a fair value of 17,162 KRW per share.
What do the bullish and bearish scenarios say about 234340?
Our models span a range for Settlebank Corporation: cautious scenario 12,871 KRW, base 17,162 KRW, optimistic 21,452 KRW per share (as of Nov 9, 2026, price 15,760 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 234340?
Settlebank Corporation trades at a price-to-earnings ratio of 14.5 (as of Nov 9, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 17,162 KRW is built from several models across several years. Other multiples: P/B 1.3, P/S 1.1.
How solid is the balance sheet of Settlebank Corporation (234340)?
Balance-sheet figures for Settlebank Corporation (as of Nov 9, 2026): return on equity 7.7%. They feed the Quality Score of 51/100, which measures business quality independently of the share price.
How far is 234340 from its 52-week high?
Settlebank Corporation trades at 15,760 KRW, about 61% below its 52-week high of 40,300 KRW and 8% above the low of 14,557 KRW (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of 17,162 KRW is for.
Which stocks are comparable to Settlebank Corporation?
From the same area (Technology) we also value Microsoft Corporation, Oracle Corporation, Palantir Technologies Inc, Palo Alto Networks, 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 Settlebank Corporation stock attractive at the current price?
The data as of Nov 9, 2026: price 15,760 KRW, calculated fair value 17,162 KRW (+9%), Quality Score 51/100, from 26 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 234340 calculated?
We run Settlebank Corporation through 26 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 17,162 KRW builds on their evidence-weighted average, 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 13.3% above its aggregate fair value. Settlebank Corporation currently trades 8% 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 Settlebank Corporation (234340)?
The closing price on Nov 9, 2026 was 15,760 KRW. Our model-based fair value is 17,162 KRW, about +9% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Settlebank Corporation right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. The price sits in the lower half of our model range, the side with the larger margin of safety. Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.
Key figures of Settlebank Corporation
How large is the market capitalisation of Settlebank Corporation (234340)?
The market capitalisation of Settlebank Corporation is 220B KRW (≈ $163M). 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 Settlebank Corporation (234340)?
The price-to-sales ratio of Settlebank Corporation is 1.11 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Settlebank Corporation (234340)?
Earnings per share at Settlebank Corporation are 1,092 KRW (price ÷ EPS = P/E 14.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Settlebank Corporation (234340)?
The dividend yield of Settlebank Corporation is 1.4% (payout 20.2%). 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 Settlebank Corporation (234340)?
The net margin of Settlebank Corporation is 7.4% (last twelve months). 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 Settlebank Corporation (234340)?
The return on equity (ROE) of Settlebank Corporation is 7.7% (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 Settlebank Corporation (234340)?
On an EBIT basis the return on assets of Settlebank Corporation is 3.9% (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 Settlebank Corporation (234340)?
The operating margin of Settlebank Corporation is 9.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Settlebank Corporation (234340)?
Revenue at Settlebank Corporation is growing +12.6% versus a year earlier (3y avg +13.2%). 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 Settlebank Corporation (234340)?
Earnings per share at Settlebank Corporation are growing +51.4% versus a year earlier. How much earnings per share grew versus a year earlier.
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Nov 9, 2026