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KCTech Co (281820) Fair Value & Analysis

Technology · KR · Market cap 1.5T KRW

KC KCTech Co 281820 · KO
Price59,300 KRW
Fair Value47,586 KRW
Upside-19.8%
Quality65/100
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Mixed Growth
Solidly profitable · 16.7% net margin
generates free cash flow
0.52% dividend yield
Ranks above peers (8/9)
Moderate moat 63/100
Evidence: High Range 27,250 KRW – 64,787 KRW Share as image

Fair value as of: Jul 24, 2026

From 24 valuation models · updated 17 days ago

Fair value updated Jul 24, 2026, revised from 46,769 KRW to 47,586 KRW (+1.7%) since Jul 7, 2026. Share price −28.6% over the past month.

A solid business, but screening 20% overvalued on our models.

What matters now

  • Solid but not exceptional quality (65/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (27,250 KRW to 64,787 KRW) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

117,500 KRW 12,866 KRW Fair Value 47,586 KRW Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 24, 2026.

How to read this chart

60‑month range 12,866 KRW – 117,500 KRW · fair‑value band 27,250 KRW – 64,787 KRW · the 59,300 KRW price screens above the 47,586 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 24, 2026.

Full chart & analysis →

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Analysis

KCTech Co (281820) currently trades at 59,300 KRW, while our model-based Fair Value estimate is 47,586 KRW, implying the stock looks roughly 19.8% overvalued today. The Quality Score stands at 65/100 (solid 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, KCTech Co generated revenue of 461B KRW at a net margin of 16.7%. Revenue grew 101.0% year over year. It earns a return on equity of 14.9%. Fundamentals as of Jul 24, 2026

Our scenario range runs from 27,250 KRW (bear case) to 64,787 KRW (bull case); at 59,300 KRW, the current price sits within 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 34% below its 52-week high and 138% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -75% fair-value upside, at -20%, 281820 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 BearBaseBull Evidence
Highest evidence
Residual Income 24,037 KRW 26,993 KRW 47,439 KRW 76
Growth DCF 22,486 KRW 38,069 KRW 65,418 KRW 72
Growth-Adj P/E 32,251 KRW 46,073 KRW 59,895 KRW 68
All 24 models by family
DCF Models
FCF DCF 22,410 KRW 38,618 KRW 67,023 KRW 38
Owner Earnings 29,148 KRW 50,574 KRW 88,124 KRW 31
5Y Revenue Exit 26,633 KRW 46,343 KRW 72,882 KRW 39
5Y EBITDA Exit 31,867 KRW 56,826 KRW 87,717 KRW 41
5Y P/E Exit 33,494 KRW 60,085 KRW 89,956 KRW 38
10Y Revenue Exit 24,128 KRW 42,531 KRW 70,142 KRW 36
10Y EBITDA Exit 28,592 KRW 50,263 KRW 82,501 KRW 37
10Y P/E Exit 29,682 KRW 52,667 KRW 84,366 KRW 35
Earnings-Based
Graham-Dodd 18,398 KRW 76,771 KRW 104,689 KRW 54
Lynch FV 19,431 KRW 27,759 KRW 36,087 KRW 50
PEG = 1.0 19,431 KRW 27,759 KRW 36,087 KRW 46
EPV 25,912 KRW 30,224 KRW 34,056 KRW 59
Multiples
P/E Multiple 40,584 KRW 54,112 KRW 67,640 KRW 63
P/S Multiple 34,496 KRW 45,995 KRW 57,494 KRW 58
P/B Multiple 34,496 KRW 45,995 KRW 57,494 KRW 55
EV/EBIT 42,501 KRW 56,175 KRW 69,849 KRW 53
EV/EBITDA 39,464 KRW 52,125 KRW 64,787 KRW 54
EV/Revenue 29,131 KRW 40,981 KRW 52,832 KRW 43
Asset-Based
NCAV (Graham) 13,435 KRW 18,002 KRW 26,869 KRW 50
Growth DCF
Growth DCF 22,486 KRW 38,069 KRW 65,418 KRW 72
Rev-Margin DCF 26,633 KRW 45,803 KRW 69,714 KRW 67
Economic Profit
Residual Income 24,037 KRW 26,993 KRW 47,439 KRW 76
ROIC Compounder 25,912 KRW 33,817 KRW 44,837 KRW 67
Growth Earnings
Growth-Adj P/E 32,251 KRW 46,073 KRW 59,895 KRW 68

Widest divergence: DCF Models (50,263 KRW) versus Asset-Based (18,002 KRW). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 461B KRW
Revenue growth (YoY) +101%
Net margin 16.7%
Return on equity 14.9%
Free cash flow 31.5B KRW FY2025
Operating margin 22.3%
More key figures
Dividend yield 0.5%
EPS growth (YoY) +306%

Figures from reported company fundamentals · as of Jul 24, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 65/100

Of which business quality 63 · Market factors (momentum, volatility) 59

Profitability 50
Margins and returns on capital today
Quality Growth 55
Are margins and returns improving?
Cashflow 44
Earnings quality: real cash, not paper profit
Fin. Strength 83
Balance sheet, leverage, solvency risk
Investment 65
Disciplined investing over empire-building
Low Volatility 18
Calm price path (market factor)
Momentum 83
Price trend over the last 3–12 months (market factor)
52W Momentum 66
Distance to the 52-week high (market factor)
Net Issuance 86
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

KCTech Co., Ltd. engages in the manufacture and distribution of semiconductor systems, display systems, and electronic materials in South Korea.

Full company description

KCTech Co., Ltd. engages in the manufacture and distribution of semiconductor systems, display systems, and electronic materials in South Korea. It offers semiconductor equipment, including chemical mechanical polishing systems and wet cleaning systems; display equipment, such as wet stations, atmospheric pressure plasma cleaners, CO2 clearers, and coater and tract systems; electronic materials comprising dielectric slurry and additive, and metal slurry; and nano dispersion products. KCTech Co., Ltd. was founded in 1987 and is headquartered in Anseong-si, South Korea.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

KCTech Co reported revenue of 383B KRW in FY2025 versus 345B KRW in FY2021, a compound +2.7%/yr. Reported net income was 53.4B KRW in FY2025, compounding +6.2%/yr from FY2021.

Growth Quality 70/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
383B KRW
Latest YoY
−0.7%
Avg. growth/yr (3Y)
+0.4%
Avg. growth/yr (5Y)
+3.7%
Avg. growth/yr (8Y)
+22.6%
Revenue +2.7%/yr
FY21 345B KRW
FY22 378B KRW
FY23 287B KRW
FY24 385B KRW
FY25 383B KRW
Net income +6.2%/yr
FY21 41.9B KRW
FY22 55.4B KRW
FY23 31.7B KRW
FY24 52.7B KRW
FY25 53.4B KRW

281820 screens 20% overvalued. Compare with ASML Holding →

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Cite: Fair Value Calculator (2026). "KCTech Co Fair Value". https://www.fairvalue-calculator.com/stock/281820

Peer Group

Semiconductor Equipment & Materials · 211 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 65 · Top 25%
Fair Value upside −20% · Above median
Return on equity (TTM) 15% · Top 25%
Return on assets 7% · Above median
Net margin (TTM) 17% · Above median
Operating margin (TTM) 22% · Top 25%
Revenue growth 101% · Top 25%
Dividend yield (TTM) 0.5% · Below median

Valuation Multiples vs Semiconductor Equipment & Materials median · lower = cheaper

P/FCF 0.0× · 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 7 · sector 0
FUTURE 100 · sector 58
PAST 60 · sector 30
HEALTH 0 · sector 96
DIVIDEND 10 · sector 16

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 Semiconductor Equipment & Materials stocks, each showing price versus our Fair Value estimate (as of Jul 24, 2026).

Stock Price Fair Value vs Fair Value
ASML Holding ASML C$50.50 C$15.57 -69%
Applied Materials, Inc AMAT $579.43 $143.08 -75%
Lam Research Corporation LRCX $346.10 $67.57 -80%
KLA Corporation KLAC $212.75 $53.01 -75%
NAURA Technology Group 002371 ¥774.20 ¥151.43 -80%
Advanced Micro-Fabrication Equipment Inc 688012 ¥350.69 ¥41.79 -88%
Piotech Inc 688072 ¥832.00 ¥431.44 -48%
Hon. Precision, Inc 7769 6,005 TWD 1,804 TWD -70%
Hangzhou Changchuan Technology Co 300604 ¥325.24 ¥33.33 -90%
MPI Corporation 6223 5,600 TWD 609.44 TWD -89%

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Frequently asked questions

Is KCTech Co (281820) overvalued or undervalued?
As of Jul 24, 2026, our model estimates a fair value of 47,586 KRW versus a price of 59,300 KRW, about −20% (overvalued).
What is the fair value of 281820?
Our model-based fair value for KCTech Co is 47,586 KRW (as of Jul 24, 2026), built from audited fundamentals. The current price is 59,300 KRW.
What is the quality score of 281820?
KCTech Co has a Quality Score of 65/100. 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 KCTech Co (281820)?
KCTech Co reported trailing-twelve-month revenue of about 461B KRW (latest available figure, as of Jul 24, 2026).
What is the net profit margin of 281820?
The net profit margin of KCTech Co is about 16.7%, meaning it keeps roughly 16.7% of revenue as net income. Based on the latest reported figures.
Does KCTech Co pay a dividend?
KCTech Co currently shows a dividend yield of about 0.52% relative to its recent price (as of Jul 24, 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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