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IGIS Residence Reit Co (350520) Fair Value & Analysis

Real Estate · KR · Market cap 121B KRW

IR IGIS Residence Reit Co 350520 · KO
Price3,400 KRW
Fair Value5,512 KRW
Upside+62.1%
Quality51/100
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Expensive Growth
Thin margins · 0.0% net margin
Low debt · generates free cash flow
9.10% dividend yield
Mixed vs. peers (5/10)
Narrow moat 29/100
Evidence: High Range 4,134 KRW – 6,370 KRW Share as image

Fair value as of: Jul 22, 2026

From 13 valuation models · updated 19 days ago

Fair value updated Jul 22, 2026, revised from 1,601 KRW to 5,512 KRW (+244.2%) since Jun 26, 2026. Share price +1.8% over the past month.

A solid business, screening 62% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (4,134 KRW). The market is more pessimistic than our downside scenario.
  • Solid quality (51/100) at a price below fair value, the discount is the argument here, not the business quality.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
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Price vs Fair Value (5 years)

4,536 KRW 2,748 KRW Fair Value 5,512 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 2,748 KRW – 4,536 KRW · fair‑value band 4,134 KRW – 6,370 KRW · the 3,400 KRW price screens below the 5,512 KRW fair value. Dashed = 300-day average. As of Jul 22, 2026.

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Analysis

IGIS Residence Reit Co (350520) currently trades at 3,400 KRW, while our model-based Fair Value estimate is 5,512 KRW, implying the stock looks roughly 62.1% undervalued today. The Quality Score stands at 51/100 (solid quality), in the Real Estate sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Net debt stands at 79.3B KRW. Fundamentals as of Jul 22, 2026

Our scenario range runs from 4,134 KRW (bear case) to 6,370 KRW (bull case); at 3,400 KRW, the current price sits below 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 16% below its 52-week high and 4% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at -44% fair-value upside, at 62%, 350520 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 646.24 KRW 1,311 KRW 2,655 KRW 80
Residual Income 6,417 KRW 6,354 KRW 5,669 KRW 76
Rev-Margin DCF 1,939 KRW 4,277 KRW 8,789 KRW 74
All 13 models by family
DCF Models
FCF DCF 695.09 KRW 1,167 KRW 2,668 KRW 38
5Y Revenue Exit 1,874 KRW 3,729 KRW 7,646 KRW 39
10Y Revenue Exit 1,471 KRW 4,291 KRW 6,370 KRW 36
Dividend Discount
Gordon GGM 1,377 KRW 2,864 KRW 4,543 KRW 70
DDM Multi-Stage 1,377 KRW 2,415 KRW 3,005 KRW 61
Multiples
P/S Multiple 2,184 KRW 2,911 KRW 3,639 KRW 58
P/B Multiple 4,134 KRW 5,512 KRW 6,890 KRW 55
EV/EBIT 6,281 KRW 8,417 KRW 10,553 KRW 53
EV/Revenue 2,068 KRW 3,008 KRW 3,949 KRW 43
Asset-Based
NCAV (Graham) 4,321 KRW 5,791 KRW 8,643 KRW 50
Growth DCF
Growth DCF 646.24 KRW 1,311 KRW 2,655 KRW 80
Rev-Margin DCF 1,939 KRW 4,277 KRW 8,789 KRW 74
Economic Profit
Residual Income 6,417 KRW 6,354 KRW 5,669 KRW 76

Widest divergence: Economic Profit (6,354 KRW) versus Growth DCF (1,311 KRW). Highest evidence: Growth DCF (80).

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Key figures & financial health

Free cash flow 1.8B KRW FY2026
Dividend yield 8.7%
Net debt 79.3B KRW FY2026

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

Quality Score breakdown

Overall quality 51/100

Of which business quality 53 · Market factors (momentum, volatility) 45

Profitability 33
Margins and returns on capital today
Quality Growth 75
Are margins and returns improving?
Cashflow 50
Earnings quality: real cash, not paper profit
Fin. Strength 57
Balance sheet, leverage, solvency risk
Investment 76
Disciplined investing over empire-building
Low Volatility 100
Calm price path (market factor)
Momentum 24
Price trend over the last 3–12 months (market factor)
52W Momentum 19
Distance to the 52-week high (market factor)
Net Issuance 40
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

IGIS Residence Reit Co., Ltd. operates as a real estate investment fund based on rented houses. The company was founded in 2020 and is based in Seoul, South Korea.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

IGIS Residence Reit Co reported revenue of 16.5B KRW in FY2026 versus 9.2B KRW in FY2022, a compound +15.9%/yr. Reported net income was 12.0B KRW in FY2026, compounding +10.2%/yr from FY2022.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2026)
16.5B KRW
Latest YoY
+37.7%
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.
+2.7%
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.
+16.4%
Revenue +15.9%/yr
FY22 9.2B KRW
FY23 15.2B KRW
FY24 42.3B KRW
FY25 12.0B KRW
FY26 16.5B KRW
Net income +10.2%/yr
FY22 8.1B KRW
FY23 7.8B KRW
FY24 33.7B KRW
FY25 3.5B KRW
FY26 12.0B KRW

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Cite: Fair Value Calculator (2026). "IGIS Residence Reit Co Fair Value". https://www.fairvalue-calculator.com/stock/350520

Peer Group

REIT - Residential · 56 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 53 · Above median
Fair Value upside +62% · Top 25%
Return on assets 0% · Bottom 25%
Net margin (TTM) 0% · Below median
Operating margin (TTM) 0% · Bottom 25%
Revenue growth 0% · Below median
Dividend yield (TTM) 9.1% · Top 25%
Debt / equity 0.07× · Lower than 75% of peers

Valuation Multiples vs REIT - Residential 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 100 · sector 0
FUTURE 0 · sector 10
PAST 0 · sector 5
HEALTH 97 · sector 61
DIVIDEND 100 · sector 73

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 REIT - Residential stocks, each showing price versus our Fair Value estimate (as of Jul 22, 2026).

Stock Price Fair Value vs Fair Value
AvalonBay Communities, Inc AVB $190.80 $126.12 -34%
EQR EQR $67.86 $38.10 -44%
Essex Property Trust, Inc ESS $293.46 $177.90 -39%
Invitation Homes INVH $29.78 $16.82 -44%
Mid-America Apartment Communities, Inc MAA $133.88 $65.28 -51%
Sun Communities, Inc SUI $121.83 $114.79 -6%
UDR, Inc UDR $39.59 $19.76 -50%
American Homes 4 Rent (AMH or the General Partner) AMH $33.11 $21.44 -35%
Equity LifeStyle Properties, Inc ELS $66.05 $21.27 -68%
Camden Property Trust, an S&P 500 Company CPT $113.73 $41.87 -63%

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Frequently asked questions

Is IGIS Residence Reit Co (350520) overvalued or undervalued?
As of Jul 22, 2026, our model estimates a fair value of 5,512 KRW versus a price of 3,400 KRW, about +62% (undervalued).
What is the fair value of 350520?
Our model-based fair value for IGIS Residence Reit Co is 5,512 KRW (as of Jul 22, 2026), built from audited fundamentals. The current price is 3,400 KRW.
What is the quality score of 350520?
IGIS Residence Reit Co 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 net profit margin of 350520?
The net profit margin of IGIS Residence Reit Co is about 0.0%, meaning it keeps roughly 0.0% of revenue as net income. Based on the latest reported figures.
Does IGIS Residence Reit Co pay a dividend?
IGIS Residence Reit Co currently shows a dividend yield of about 8.71% relative to its recent price (as of Jul 22, 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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