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IQuest Co. Ltd. (262840) fair value: what the stock is really worth

As of Sep 23, 2026: fair value of IQuest Co. Ltd. KRW 8,115, price KRW 2,705, upside +200.0%, quality 45 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? No
  3. Add to watchlist

Technology · KR · ISIN KR7262840002

IC Thin data Sep 27, 2026

IQuest Co. Ltd.

262840 · KQ

Cheap, value-trap riskThe stock looks deeply undervalued, but low quality raises value-trap risk.

✓Fair value 8,115 KRW · Strongly undervalued (+200.0%)
!Quality 45/100
!Expensive Growth (revenue 5y +23.3 %/yr)
✓Solidly profitable · 17.5% net margin (TTM)
!Moderate debt · negative free cash flow
!5.2% dividend yield · Watch coverage
✓Ranks above peers (8/10)
!Moderate moat 48/100
!Evidence only low, so the estimate is less certain

What runs behind every stock

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

Price vs Fair Value

12,936 KRW 2,690 KRW Fair Value 8,115 KRW Apr 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 27, 2026.

How to read this chart

60‑month range 2,690 KRW – 12,936 KRW · fair‑value band 6,086 KRW – 10,144 KRW · the 2,705 KRW price screens below the 8,115 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 27, 2026.

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Company profile

IQUEST Co., Ltd. engages in the development and sale of ERP software in South Korea. The company was founded in 1996 and is headquartered in Seoul, South Korea.

Stock analysis

IQuest Co. Ltd. (262840) currently trades at 2,705 KRW, while our model-based Fair Value estimate is 8,115 KRW, implying the stock looks roughly 66.7% undervalued today.

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Valuation

Bull case: the Growth Earnings group reads highest at a median of 15,284 KRW per share, and 12 of the 14 models we run sit above the 2,705 KRW price.

Bear case: the Economic Profit group reads lowest at 1,222 KRW, and 2 of the 14 models stay below the price. Evidence for this calculation is low.

Scenario range: 6,086 KRW (bear) to 10,144 KRW (bull), the price of 2,705 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 45/100 (below-average quality), in the Technology sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

IQuest Co. Ltd. reported revenue of 43.6B KRW in FY2025 versus 15.7B KRW in FY2021, a compound +29.1%/yr. Reported net income was 5.6B KRW in FY2025, compounding +12.3%/yr from FY2021.

Key figures

Market cap 30.9B KRW (≈ $22.8M) · P/S ratio 0.70 · Dividend yield 5.2% · Net margin 12.9% · Return on equity 15.6% · Return on assets (EBIT) 6.1% · Operating margin 6.0% · Revenue (TTM) 44.3B KRW.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).

What moves the price

The share trades about 34% below its 52-week high and 1% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Technology peers we cover trades at −7% fair-value upside, at 200%, 262840 screens cheaper than that median.

Fair Value models

Bear 6,086 KRW Fair Value 8,115 KRW Bull 10,144 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. 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
Residual Income 4,585 KRW 5,125 KRW 6,666 KRW 76
EPV 697.22 KRW 1,222 KRW 1,674 KRW 71
ROIC Compounder 697.22 KRW 1,222 KRW 1,674 KRW 70
All 14 models by family
Earnings-Based
Graham-Dodd 3,761 KRW 22,302 KRW 31,065 KRW 63
Lynch FV 6,338 KRW 9,054 KRW 11,770 KRW 61
PEG = 1.0 6,338 KRW 9,054 KRW 11,770 KRW 57
EPV 697.22 KRW 1,222 KRW 1,674 KRW 71
Multiples
P/E Multiple 11,614 KRW 15,486 KRW 19,357 KRW 63
P/S Multiple 7,052 KRW 9,402 KRW 11,753 KRW 58
P/B Multiple 7,052 KRW 9,402 KRW 11,753 KRW 55
EV/EBIT 4,964 KRW 7,494 KRW 10,023 KRW 65
EV/EBITDA 4,440 KRW 6,794 KRW 9,149 KRW 66
EV/Revenue 1,212 KRW 2,856 KRW 4,500 KRW 50
Asset-Based
NCAV (Graham) 2,607 KRW 3,493 KRW 5,214 KRW 54
Economic Profit
Residual Income 4,585 KRW 5,125 KRW 6,666 KRW 76
ROIC Compounder 697.22 KRW 1,222 KRW 1,674 KRW 70
Growth Earnings
Growth-Adj P/E 10,699 KRW 15,284 KRW 19,870 KRW 67

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Quality Score breakdown

Overall quality 45/100

Of which business quality 45 · Market factors (momentum, volatility) 33

Profitability 38
Margins and returns on capital today
Quality Growth 35
Are margins and returns improving?
Cashflow 38
Earnings quality: real cash, not paper profit
Fin. Strength 57
Balance sheet, leverage, solvency risk
Investment 22
Disciplined investing over empire-building
Low Volatility 86
Calm price path (market factor)
Momentum 18
Price trend over the last 3–12 months (market factor)
52W Momentum 1
Distance to the 52-week high (market factor)
Net Issuance 79
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. 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+7.2%
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.
+18.2%
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.
+23.3%
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.
+18.1%
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.
≈ +7.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+1.9%
Dividend (yield on the price)5.2%
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.32% → 10%
⚠ Rate on operating basis: 2025 sits 82% above its own trend.

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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 · 709 stocks

Beats the industry median on 8/10 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 45 · Below median
Fair Value upside +200.0% · Top 25%
Profitability
Return on equity (TTM) 15.6% · Top 25%
Return on assets 2.6% · Above median
Net margin (TTM) 17.5% · Top 25%
Operating margin (TTM) 6.0% · Above median
Growth and dividend
Revenue growth 7.6% · Above median
Dividend yield (TTM) 5.2% · Top 25%
Balance sheet
Debt / equity 0.75× · Highest 25%

Valuation Multiplesvs Software - Application median · lower = cheaper

EV/EBITDA 5.5× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 27
FUTURE (revenue growth)38 · sector 36
PAST (return on equity)62 · sector 16
HEALTH (low debt)63 · sector 97
DIVIDEND (yield)100 · sector 31

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 €185.92 €172.46 −7%
Salesforce, Inc CRM $234.02 $342.73 +46%
Shopify Inc SHOP $142.25 $64.36 −55%
ServiceNow, Inc NOW $135.62 $149.18 +10%
Uber Technologies, Inc UBER $69.62 $103.69 +49%
Snowflake Inc SNOW $335.94 $74.36 −78%
Automatic Data Processing, Inc ADP $263.67 $150.01 −43%
Adobe Inc ADBE $235.47 $454.04 +93%
Datadog, Inc DDOG $268.13 $32.52 −88%
Cadence Design Systems, Inc CDNS $326.13 $225.48 −31%

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Cite: Fair Value Calculator (2026). "IQuest Co. Ltd. Fair Value". https://www.fairvalue-calculator.com/stock/262840

Frequently asked questions

Is IQuest Co. Ltd. (262840) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of 8,115 KRW versus a price of 2,705 KRW, about +200% upside (undervalued).
What is the fair value of 262840?
Our model-based fair value for IQuest Co. Ltd. is 8,115 KRW (as of Sep 27, 2026), built from audited fundamentals. The current price: 2,705 KRW.
What is the quality score of 262840?
IQuest Co. Ltd. has a Quality Score of 45/100. 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 IQuest Co. Ltd. (262840)?
Our model-based price target is the fair value of 8,115 KRW (as of Sep 27, 2026) from 14 valuation models. Cautious scenario 6,086 KRW, optimistic scenario 10,144 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the IQuest Co. Ltd. stock forecast for 2026?
Our models put fair value at 8,115 KRW, about +200% upside versus a price of 2,705 KRW (undervalued). Cautious scenario 6,086 KRW, optimistic scenario 10,144 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of IQuest Co. Ltd. (262840)?
IQuest Co. Ltd. reported trailing-twelve-month revenue of about 44.3B KRW (latest available figure, as of Sep 27, 2026).
Does IQuest Co. Ltd. pay a dividend?
IQuest Co. Ltd. currently shows a dividend yield of about 5.18% relative to its recent price (as of Sep 27, 2026).
What is the intrinsic value of IQuest Co. Ltd. (262840)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For IQuest Co. Ltd. it is 8,115 KRW per share (as of Sep 27, 2026), against a price of 2,705 KRW. It is the blended result of 14 valuation models (cash flow, earnings, asset, dividend).
Is IQuest Co. Ltd. stock overvalued or undervalued in 2026?
As of Sep 27, 2026, 262840 trades below its calculated fair value: price 2,705 KRW, fair value 8,115 KRW, a gap of about +200% (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 262840?
No. The price is what the market pays today (2,705 KRW); the fair value is what the company's own numbers justify (8,115 KRW). For IQuest Co. Ltd. the two are 5,410 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is IQuest Co. Ltd. worth?
The market values IQuest Co. Ltd. at about 30.9B KRW (market capitalisation, as of Sep 27, 2026). Per share that is 2,705 KRW; our models calculate a fair value of 8,115 KRW per share.
What do the bullish and bearish scenarios say about 262840?
Our models span a range for IQuest Co. Ltd.: cautious scenario 6,086 KRW, base 8,115 KRW, optimistic 10,144 KRW per share (as of Sep 27, 2026, price 2,705 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of IQuest Co. Ltd. (262840)?
Balance-sheet figures for IQuest Co. Ltd. (as of Sep 27, 2026): return on equity 15.6%, debt of 0.75 per unit of equity. They feed the Quality Score of 45/100, which measures business quality independently of the share price.
How far is 262840 from its 52-week high?
IQuest Co. Ltd. trades at 2,705 KRW, about 34% below its 52-week high of 4,098 KRW and 1% above the low of 2,690 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 8,115 KRW is for.
Which stocks are comparable to IQuest Co. Ltd.?
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 IQuest Co. Ltd. stock attractive at the current price?
The data as of Sep 27, 2026: price 2,705 KRW, calculated fair value 8,115 KRW (+200%), Quality Score 45/100, from 14 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 262840 calculated?
We run IQuest Co. Ltd. through 14 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 8,115 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 16.1 % above its aggregate fair value. IQuest Co. Ltd. currently trades 200 % 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 IQuest Co. Ltd. (262840)?
The closing price on Sep 23, 2026 was 2,705 KRW. Our model-based fair value is 8,115 KRW, about +200% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with IQuest Co. Ltd. right now?
The price is below even our cautious bear case (6,086 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 (45/100) at a price below fair value, the discount is the argument here, not the business quality.

Key figures of IQuest Co. Ltd.

How large is the market capitalisation of IQuest Co. Ltd. (262840)?
The market capitalisation of IQuest Co. Ltd. is 30.9B KRW (≈ $22.8M). 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 IQuest Co. Ltd. (262840)?
The price-to-sales ratio of IQuest Co. Ltd. is 0.70 (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 IQuest Co. Ltd. (262840)?
The dividend yield of IQuest Co. Ltd. is 5.2%. 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 IQuest Co. Ltd. (262840)?
The net margin of IQuest Co. Ltd. is 12.9% (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 IQuest Co. Ltd. (262840)?
The return on equity (ROE) of IQuest Co. Ltd. is 15.6% (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 IQuest Co. Ltd. (262840)?
On an EBIT basis the return on assets of IQuest Co. Ltd. is 6.1% (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 IQuest Co. Ltd. (262840)?
The operating margin of IQuest Co. Ltd. is 6.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at IQuest Co. Ltd. (262840)?
Revenue at IQuest Co. Ltd. is growing +7.6% versus a year earlier (3y avg +18.2%). 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 IQuest Co. Ltd. (262840)?
Earnings per share at IQuest Co. Ltd. are growing +97.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does IQuest Co. Ltd. (262840) generate?
The free cash flow of IQuest Co. Ltd. is −30.0B 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 IQuest Co. Ltd. (262840) carry?
The net debt of IQuest Co. Ltd. is 29.8B KRW (fiscal year 2025). 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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