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SP Systems Co (317830) Fair Value & Analysis

Industrials · KR · Market cap 51.8B KRW

SS SP Systems Co 317830 · KQ
Price5,160 KRW
Fair Value3,260 KRW
Upside-36.8%
Quality41/100
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Mixed Growth
Loss-making · -10.5% net margin
Low debt · generates free cash flow
Trails peers (2/9)
Narrow moat 12/100
Evidence: Medium Range 1,849 KRW – 3,260 KRW Share as image

Fair value as of: Jul 22, 2026

From 12 valuation models · updated 18 days ago

Fair value updated Jul 22, 2026, revised from 3,453 KRW to 3,260 KRW (−5.6%) since Jul 9, 2026. Share price +4.3% over the past month.

Below-average quality, and screening another 37% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (3,260 KRW). The favourable scenario is already priced in.
  • Weak quality (41/100) and above fair value at the same time, the margin of safety is missing on both counts.
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Price vs Fair Value (5 years)

19,630 KRW 3,750 KRW Fair Value 3,260 KRW Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 22, 2026.

How to read this chart

60‑month range 3,750 KRW – 19,630 KRW · fair‑value band 1,849 KRW – 3,260 KRW · the 5,160 KRW price screens above the 3,260 KRW fair value. Dashed = 300-day average. As of Jul 22, 2026.

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Analysis

SP Systems Co (317830) currently trades at 5,160 KRW, while our model-based Fair Value estimate is 3,260 KRW, implying the stock looks roughly 36.8% overvalued today. The Quality Score stands at 41/100 (below-average quality), in the Industrials 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, SP Systems Co generated revenue of 57.0B KRW at a net margin of -10.5%. Revenue declined 30.0% year over year. It earns a return on equity of -7.9%. Net debt stands at 15.5B KRW. Fundamentals as of Jul 22, 2026

Our scenario range runs from 1,849 KRW (bear case) to 3,260 KRW (bull case); at 5,160 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 70% below its 52-week high, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -48% fair-value upside, at -37%, 317830 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 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. Evidence
Highest evidence
Growth DCF 5,738 KRW 9,056 KRW 14,613 KRW 80
Rev-Margin DCF 4,842 KRW 7,342 KRW 10,533 KRW 74
Gordon GGM 458.46 KRW 953.23 KRW 1,512 KRW 70
All 12 models by family
DCF Models
FCF DCF 5,758 KRW 9,331 KRW 15,452 KRW 38
5Y Revenue Exit 4,842 KRW 7,382 KRW 10,776 KRW 39
5Y EBITDA Exit 3,212 KRW 4,059 KRW 5,025 KRW 41
10Y Revenue Exit 5,003 KRW 7,507 KRW 11,238 KRW 36
10Y EBITDA Exit 4,039 KRW 5,089 KRW 6,477 KRW 37
Dividend Discount
Gordon GGM 458.46 KRW 953.23 KRW 1,512 KRW 70
DDM Multi-Stage 458.46 KRW 803.78 KRW 1,000 KRW 61
Multiples
EV/EBITDA 2,066 KRW 2,367 KRW 2,668 KRW 54
EV/Revenue 4,457 KRW 5,868 KRW 7,278 KRW 43
Asset-Based
NCAV (Graham) 2,413 KRW 3,233 KRW 4,826 KRW 50
Growth DCF
Growth DCF 5,738 KRW 9,056 KRW 14,613 KRW 80
Rev-Margin DCF 4,842 KRW 7,342 KRW 10,533 KRW 74

Widest divergence: DCF Models (7,382 KRW) versus Dividend Discount (803.78 KRW). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 57.0B KRW
Revenue growth (YoY) -30.0%
Net margin -10.5%
Return on equity -7.9%
Free cash flow 3.9B KRW FY2025
Operating margin -14.7%
More key figures
EPS growth (YoY) -73.8%
Net debt 15.5B KRW FY2021

Figures from reported company fundamentals · as of Jul 22, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 41/100

Of which business quality 44 · Market factors (momentum, volatility) 7

Profitability 11
Margins and returns on capital today
Quality Growth 15
Are margins and returns improving?
Cashflow 49
Earnings quality: real cash, not paper profit
Fin. Strength 68
Balance sheet, leverage, solvency risk
Investment 84
Disciplined investing over empire-building
Low Volatility 17
Calm price path (market factor)
Momentum 1
Price trend over the last 3–12 months (market factor)
52W Momentum 7
Distance to the 52-week high (market factor)
Net Issuance 49
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

SP Systems Co.,Ltd. provides robotics solutions in South Korea. The company offers linear modules comprising of clean room robot, wireless linear module, and axis linear modules. It also offers cooperative robot, track motion equipment, robot track motion, wireless gantry robot system, and axis gantry robots.

Full company description

SP Systems Co.,Ltd. provides robotics solutions in South Korea. The company offers linear modules comprising of clean room robot, wireless linear module, and axis linear modules. It also offers cooperative robot, track motion equipment, robot track motion, wireless gantry robot system, and axis gantry robots. In addition, the company provides smart factory, digital transformation, system integration, operation and maintenance, and consulting services, as well as offers battery, busbar, automobile, and lithium battery related products. Further, it offers conrod, crankshaft and camshaft handling, cylinder head and block handling, transmission case handling, and pallet head handling solutions. Additionally, the company provides conveyor, buffer, lifting, inspection, P.P loader, washing, air blow system, and valve body production solutions. It serves automotive, machine tool, display, tires, and test measurement automation sectors. SP Systems Co.,Ltd. was founded in 1988 and is headquartered in Yangsan-si, South Korea.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

SP Systems Co reported revenue of 61.6B KRW in FY2025 versus 35.9B KRW in FY2021, a compound +14.5%/yr. Reported net income was −6.2B KRW in FY2025.

Growth Quality 56/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
61.6B KRW
Latest YoY
−13.3%
Avg. growth/yr (3Y) 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.
+5.1%
Avg. growth/yr (5Y) 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.
+14.7%
Avg. growth/yr (8Y) 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.
+10.8%
Revenue +14.5%/yr
FY21 35.9B KRW
FY22 53.1B KRW
FY23 60.5B KRW
FY24 71.0B KRW
FY25 61.6B KRW
Net income
FY21 −940M KRW
FY22 1.7B KRW
FY23 −806M KRW
FY24 −2.1B KRW
FY25 −6.2B KRW

317830 screens 37% overvalued. Compare with GE Vernova Inc →

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Cite: Fair Value Calculator (2026). "SP Systems Co Fair Value". https://www.fairvalue-calculator.com/stock/317830

Peer Group

Specialty Industrial Machinery · 808 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 41 · Bottom 25%
Fair Value upside −37% · Above median
Return on assets -1% · Bottom 25%
Net margin (TTM) -10% · Bottom 25%
Operating margin (TTM) -15% · Bottom 25%
Revenue growth -30% · Bottom 25%
Debt / equity 0.09× · Higher than median

Valuation Multiples vs Specialty Industrial Machinery 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 0 · sector 0
FUTURE 0 · sector 23
PAST 0 · sector 28
HEALTH 95 · sector 96
DIVIDEND 0 · sector 24

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.

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 Specialty Industrial Machinery stocks, each showing price versus our Fair Value estimate (as of Jul 22, 2026).

Stock Price Fair Value vs Fair Value
GE Vernova Inc 1GEV €887.60 €186.93 -79%
1SIE 1SIE €273.20 €91.93 -66%
SMNS SMNS C$31.76 C$22.68 -29%
Eaton Corporation ETN $407.28 $171.92 -58%
Atlas Copco AB ATCOA kr 195.15 kr 112.59 -42%
Sandvik AB SAND kr 384.10 kr 193.01 -50%
Doosan Enerbility Co 034020 76,400 KRW 7,938 KRW -90%
Vestas Wind Systems A/S VWS kr 178.10 kr 124.54 -30%
Zhejiang Sanhua Intelligent Controls Co 002050 ¥43.20 ¥22.68 -48%
NARI Technology Co 600406 ¥22.19 ¥18.71 -16%

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Frequently asked questions

Is SP Systems Co (317830) overvalued or undervalued?
As of Jul 22, 2026, our model estimates a fair value of 3,260 KRW versus a price of 5,160 KRW, about −37% (overvalued).
What is the fair value of 317830?
Our model-based fair value for SP Systems Co is 3,260 KRW (as of Jul 22, 2026), built from audited fundamentals. The current price is 5,160 KRW.
What is the quality score of 317830?
SP Systems Co has a Quality Score of 41/100. 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 SP Systems Co (317830)?
SP Systems Co reported trailing-twelve-month revenue of about 57.0B KRW (latest available figure, as of Jul 22, 2026).
What is the net profit margin of 317830?
The net profit margin of SP Systems Co is about -10.5%, meaning it is currently running at a net loss. Based on the latest reported figures.

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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