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NBT Inc. (236810) fair value: what the stock is really worth

As of Oct 2, 2026: fair value of NBT Inc. KRW 664, price KRW 1,583, upside -58.0%, quality 61 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? Yes
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Technology · KR · ISIN KR7236810008

NI Thin data Oct 3, 2026

NBT Inc.

236810 · KQ

Stretched ValuationStrong overvaluation with only moderate quality.

Quality 61/100
Moderate debt
Fair value 664.22 KRW · Strongly overvalued (−58.0%)
Weak Growth (revenue 5y +15.8 %/yr in KRW)
Loss-making · -1.3% net margin (TTM)
Negative free cash flow
Trails peers (2/8)
Narrow moat 16/100
Thin data
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

17,375 KRW 966.00 KRW Fair Value 664.22 KRW May 2021 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 3, 2026.

How to read this chart

60‑month range 966.00 KRW – 17,375 KRW · fair‑value band 438.39 KRW – 830.28 KRW · the 1,583 KRW price screens above the 664.22 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 3, 2026.

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Company profile

NBT Inc. provides mobile advertising services using smartphone applications in South Korea.

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NBT Inc. provides mobile advertising services using smartphone applications in South Korea. It develops Cash Slide, a mobile lock screen service application; Cash Slide Step Up, a pedometer-type reward service that allows to check current step count on the lock screen and earn points; Cashfeed, a revenue-generating content service that allows to make money just by writing or viewing content; Shopping Points, a shopping mall service offering shopping and playing games; and Chips, an app tech service to experience various reward benefits, as well as Addison Offerwall, an offerwall network platform. NBT Inc. was founded in 2012 and is headquartered in Seoul, South Korea.

Stock analysis

NBT Inc. (236810) currently trades at 1,583 KRW, while our model-based Fair Value estimate is 664.22 KRW, 58.0% below the price, so the stock looks overvalued today.

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Valuation

How firm this estimate is: it rests on 1 models at a data quality of 95/100, which puts the evidence level at low.

Scenario range: 438.39 KRW (bear) to 830.28 KRW (bull), the price of 1,583 KRW sits above 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 61/100 (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.

NBT Inc. reported revenue of 92.3B KRW in FY2025 versus 82.4B KRW in FY2021, a compound +2.9%/yr. Reported net income was −4.5B KRW in FY2025.

Key figures

Market cap 25.5B KRW (≈ $19.0M) · P/S ratio 0.26 · Net margin −4.9% · Return on equity −6.2% · Return on assets (EBIT) −4.7% · Operating margin 1.9% · Revenue (TTM) 96.4B KRW · Revenue growth (YoY) +18.9%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (low confidence).

What moves the price

The share trades about 50% below its 52-week high and 64% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Technology peers we cover trades at −8% fair-value upside, at −58%, 236810 screens richer than that median.

Fair Value models

Bear 438.39 KRW Fair Value 664.22 KRW Bull 830.28 KRW
Price 1,583 KRW · Upside -58.0%
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. 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. 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.
Highest evidence
NCAV (Graham) 644.74 KRW 863.96 KRW 1,289 KRW 54
All 1 models by family
Asset-Based
NCAV (Graham) 644.74 KRW 863.96 KRW 1,289 KRW 54

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Quality Score breakdown

Overall quality 61/100

Of which business quality 61 · Market factors (momentum, volatility) 26

Profitability 40
Margins and returns on capital today
Quality Growth 53
Are margins and returns improving?
Cashflow 33
Earnings quality: real cash, not paper profit
Fin. Strength 78
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 17
Calm price path (market factor)
Momentum 39
Price trend over the last 3–12 months (market factor)
52W Momentum 11
Distance to the 52-week high (market factor)
Net Issuance 86
Share count: buybacks or dilution?

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Revenue & earnings trend

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. 38/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−12.2%
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.
−5.2%
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.
+15.8%
Start year 2020 (pandemic)
Revenue growth 7 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.
+16.5%
Profit margin (trend) ⓘ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.
−2.8% (2020) → −7.0% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

236810 screens overvalued: fair value 58% below the price. Compare with SAP SE →

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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 · 675 stocks

Beats the industry median on 2/7 measures
Overall it trails its industry peers.
Valuation
Quality Score 61 · Above median
Fair Value upside −58.0% · Bottom 25%
Profitability
Return on assets −4.2% · Bottom 25%
Net margin (TTM) −1.3% · Below median
Operating margin (TTM) 1.9% · Below median
Growth and dividend
Revenue growth 18.9% · Above median
Balance sheet
Debt / equity 0.96× · Highest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 31
FUTURE (revenue growth)95 · sector 41
PAST (return on equity)0 · sector 19
HEALTH (low debt)52 · sector 97
DIVIDEND (yield)0 · sector 34

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

Context: sector, industry, market

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

Similar stocks

10 more Software - Application stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
SAP SE SAP €186.74 €172.46 −8%
Salesforce, Inc CRM $229.57 $342.73 +49%
Shopify Inc SHOP $151.39 $64.36 −57%
ServiceNow, Inc NOW $134.01 $147.41 +10%
Uber Technologies, Inc UBER $69.36 $103.69 +49%
Snowflake Inc SNOW $330.31 $74.36 −77%
Automatic Data Processing, Inc ADP $261.80 $150.01 −43%
Adobe Inc ADBE $239.94 $454.04 +89%
Datadog, Inc DDOG $277.22 $32.52 −88%
Cadence Design Systems, Inc CDNS $351.35 $225.48 −36%

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NBT Inc. · Fair Value
664.22 KRW −58%Fair Value
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Cite: Fair Value Calculator (2026). "NBT Inc. Fair Value". https://www.fairvalue-calculator.com/stock/236810

Frequently asked questions

Is NBT Inc. (236810) overvalued or undervalued?
As of Oct 3, 2026, our model estimates a fair value of 664.22 KRW versus a price of 1,583 KRW, about −58% upside (overvalued).
What is the fair value of 236810?
Our model-based fair value for NBT Inc. is 664.22 KRW (as of Oct 3, 2026), built from audited fundamentals. The current price: 1,583 KRW.
What is the quality score of 236810?
NBT Inc. has a Quality Score of 61/100. 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 NBT Inc. (236810)?
Our model-based price target is the fair value of 664.22 KRW (as of Oct 3, 2026) from 1 valuation models. Cautious scenario 438.39 KRW, optimistic scenario 830.28 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the NBT Inc. stock forecast for 2026?
Our models put fair value at 664.22 KRW, about −58% upside versus a price of 1,583 KRW (overvalued). Cautious scenario 438.39 KRW, optimistic scenario 830.28 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of NBT Inc. (236810)?
NBT Inc. reported trailing-twelve-month revenue of about 96.4B KRW (latest available figure, as of Oct 3, 2026).
What is the intrinsic value of NBT Inc. (236810)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For NBT Inc. it is 664.22 KRW per share (as of Oct 3, 2026), against a price of 1,583 KRW. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is NBT Inc. stock overvalued or undervalued in 2026?
As of Oct 3, 2026, 236810 trades above its calculated fair value: price 1,583 KRW, fair value 664.22 KRW, a gap of about −58% (overvalued). 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 236810?
No. The price is what the market pays today (1,583 KRW); the fair value is what the company's own numbers justify (664.22 KRW). For NBT Inc. the two are 918.78 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is NBT Inc. worth?
The market values NBT Inc. at about 25.5B KRW (market capitalisation, as of Oct 3, 2026). Per share that is 1,583 KRW; our models calculate a fair value of 664.22 KRW per share.
What do the bullish and bearish scenarios say about 236810?
Our models span a range for NBT Inc.: cautious scenario 438.39 KRW, base 664.22 KRW, optimistic 830.28 KRW per share (as of Oct 3, 2026, price 1,583 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of NBT Inc. (236810)?
Balance-sheet figures for NBT Inc. (as of Oct 3, 2026): return on equity −6.2%, debt of 0.96 per unit of equity. They feed the Quality Score of 61/100, which measures business quality independently of the share price.
How far is 236810 from its 52-week high?
NBT Inc. trades at 1,583 KRW, about 50% below its 52-week high of 3,180 KRW and 64% above the low of 966.00 KRW (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of 664.22 KRW is for.
Which stocks are comparable to NBT Inc.?
From the same area (Technology) we also value SAP SE, Salesforce, Inc, Shopify Inc, ServiceNow, 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 NBT Inc. stock attractive at the current price?
The data as of Oct 3, 2026: price 1,583 KRW, calculated fair value 664.22 KRW (−58%), Quality Score 61/100, from 1 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 236810 calculated?
We run NBT Inc. through 1 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 664.22 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 15.1 % above its aggregate fair value. NBT Inc. itself currently trades above fair value. 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 NBT Inc. (236810)?
The closing price on Oct 2, 2026 was 1,583 KRW. Our model-based fair value is 664.22 KRW, about −58% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with NBT Inc. right now?
The price sits above even our optimistic bull case (830.28 KRW). The favourable scenario is already priced in. 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 but not exceptional quality (61/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (438.39 KRW to 830.28 KRW) leaves room in how you read the outcome.

Key figures of NBT Inc.

How large is the market capitalisation of NBT Inc. (236810)?
The market capitalisation of NBT Inc. is 25.5B KRW (≈ $19.0M). 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 NBT Inc. (236810)?
The price-to-sales ratio of NBT Inc. is 0.26 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the net margin of NBT Inc. (236810)?
The net margin of NBT Inc. is −4.9% (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 NBT Inc. (236810)?
The return on equity (ROE) of NBT Inc. is −6.2% (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 NBT Inc. (236810)?
On an EBIT basis the return on assets of NBT Inc. is −4.7% (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 NBT Inc. (236810)?
The operating margin of NBT Inc. is 1.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at NBT Inc. (236810)?
Revenue at NBT Inc. is growing +18.9% versus a year earlier (3y avg −5.2%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does NBT Inc. (236810) generate?
The free cash flow of NBT Inc. is −10.6B KRW (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does NBT Inc. (236810) carry?
The net debt of NBT Inc. is 18.4B KRW (fiscal year 2024). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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