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Obigo, Inc (352910) Fair Value & Analysis

Technology · KR · Market cap 47.3B KRW

OI Obigo, Inc 352910 · KQ
Price3,550 KRW
Fair Value1,203 KRW
Upside-66.1%
Quality50/100
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Expensive Growth
Loss-making · -6.7% net margin
Low debt · negative free cash flow
Trails peers (2/8)
Narrow moat 19/100
Evidence: Low Range 794.05 KRW – 1,504 KRW Share as image

Fair value as of: Jul 21, 2026

From 1 valuation models · updated 21 days ago

Share price −5.5% over the past month.

A solid business, but screening 66% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (1,504 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 (50/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (794.05 KRW to 1,504 KRW) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

28,200 KRW 3,295 KRW Fair Value 1,203 KRW Jul 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 21, 2026.

How to read this chart

60‑month range 3,295 KRW – 28,200 KRW · fair‑value band 794.05 KRW – 1,504 KRW · the 3,550 KRW price screens above the 1,203 KRW fair value. Dashed = 300-day average. As of Jul 21, 2026.

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Analysis

Obigo, Inc (352910) currently trades at 3,550 KRW, while our model-based Fair Value estimate is 1,203 KRW, implying the stock looks roughly 66.1% overvalued today. The Quality Score stands at 50/100 (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: low).

Over the trailing twelve months, Obigo, Inc generated revenue of 40.4B KRW at a net margin of -6.7%. Revenue grew 183.6% year over year. It earns a return on equity of -11.6%. Net debt stands at 78.5M KRW. Fundamentals as of Jul 21, 2026

Our scenario range runs from 794.05 KRW (bear case) to 1,504 KRW (bull case); at 3,550 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 51% below its 52-week high, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -50% fair-value upside, at -66%, 352910 screens richer 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
NCAV (Graham) 1,338 KRW 1,793 KRW 2,676 KRW 50
All 1 models by family
Asset-Based
NCAV (Graham) 1,338 KRW 1,793 KRW 2,676 KRW 50

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Key figures & financial health

Revenue (TTM) 40.4B KRW
Revenue growth (YoY) +184%
Net margin -6.7%
Return on equity -11.6%
Free cash flow −1.8B KRW FY2025
Operating margin -14.1%
More key figures
Net debt 78.5M KRW FY2025

Figures from reported company fundamentals · as of Jul 21, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 50/100

Of which business quality 49 · Market factors (momentum, volatility) 17

Profitability 28
Margins and returns on capital today
Quality Growth 63
Are margins and returns improving?
Cashflow 4
Earnings quality: real cash, not paper profit
Fin. Strength 67
Balance sheet, leverage, solvency risk
Investment 86
Disciplined investing over empire-building
Low Volatility 37
Calm price path (market factor)
Momentum 9
Price trend over the last 3–12 months (market factor)
52W Momentum 8
Distance to the 52-week high (market factor)
Net Issuance 75
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

Obigo, Inc., a Web service company, provides internet services and software products in South Korea and internationally. The company's range of solutions include HTML5 browser, app framework, and web applications for various devices and platforms, such as automotive, smart phones, smart TV, and other consumer electronics. Obigo, Inc.

Full company description

Obigo, Inc., a Web service company, provides internet services and software products in South Korea and internationally. The company's range of solutions include HTML5 browser, app framework, and web applications for various devices and platforms, such as automotive, smart phones, smart TV, and other consumer electronics. Obigo, Inc. was founded in 1997 and is based in Seongnam-si, South Korea.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Obigo, Inc reported revenue of 33.5B KRW in FY2025 versus 7.7B KRW in FY2021, a compound +44.7%/yr. Reported net income was −1.9B KRW in FY2025.

Growth Quality 44/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
33.5B KRW
Latest YoY
+132.5%
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.
+45.0%
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.
+22.7%
Avg. growth/yr (6Y) 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.
+21.9%
Revenue +44.7%/yr
FY21 7.7B KRW
FY22 11.0B KRW
FY23 15.1B KRW
FY24 14.4B KRW
FY25 33.5B KRW
Net income
FY21 −6.0B KRW
FY22 −2.5B KRW
FY23 399M KRW
FY24 −1.7B KRW
FY25 −1.9B KRW

352910 screens 66% overvalued. Compare with Microsoft Corporation →

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Cite: Fair Value Calculator (2026). "Obigo, Inc Fair Value". https://www.fairvalue-calculator.com/stock/352910

Peer Group

Software - Infrastructure · 371 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 49 · Below median
Fair Value upside −66% · Below median
Return on assets -7% · Bottom 25%
Net margin (TTM) -7% · Bottom 25%
Operating margin (TTM) -14% · Bottom 25%
Revenue growth 184% · Top 25%

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 100 · sector 46
PAST 0 · sector 14
HEALTH 100 · sector 98
DIVIDEND 0 · sector 28

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 Software - Infrastructure stocks, each showing price versus our Fair Value estimate (as of Jul 21, 2026).

Stock Price Fair Value vs Fair Value
Microsoft Corporation MSFT $384.00 $274.17 -29%
Oracle Corporation ORAC C$9.08 C$2.94 -68%
Fortinet, Inc FTNT $160.78 $44.96 -72%
Synopsys, Inc 1SNPS €354.50 €93.61 -74%
Block, Inc XYZ A$114.53 A$70.69 -38%
CoreWeave, Inc CRWV $79.94 $44.89 -44%
Range Intelligent Computing Technology Group 300442 ¥71.60 ¥34.00 -53%
Oracle Financial Services Software Limited OFSS ₹11,651 ₹5,821 -50%
360 Security Technology Inc 601360 ¥9.64 ¥5.05 -48%
One97 Communications Limited PAYTM ₹1,342 ₹181.50 -86%

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Frequently asked questions

Is Obigo, Inc (352910) overvalued or undervalued?
As of Jul 21, 2026, our model estimates a fair value of 1,203 KRW versus a price of 3,550 KRW, about −66% (overvalued).
What is the fair value of 352910?
Our model-based fair value for Obigo, Inc is 1,203 KRW (as of Jul 21, 2026), built from audited fundamentals. The current price is 3,550 KRW.
What is the quality score of 352910?
Obigo, Inc has a Quality Score of 50/100. 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 Obigo, Inc (352910)?
Obigo, Inc reported trailing-twelve-month revenue of about 40.4B KRW (latest available figure, as of Jul 21, 2026).
What is the net profit margin of 352910?
The net profit margin of Obigo, Inc is about -6.7%, 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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