kakaopay Corp. (377300) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of kakaopay Corp. KRW 30,829, price KRW 40,650, upside -24.2%, quality 60 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
59‑month range 21,700 KRW – 238,500 KRW · fair‑value band 29,191 KRW – 33,412 KRW · the 40,650 KRW price screens above the 30,829 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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Kakao Pay Corp. operates a mobile payment system in South Korea. It operates in two segments, Non-financial Services and Financial Services. Its products include, money transfer, payment, membership, PFM, bill payment, investment, loan, insurance, and other recommended products. It serves the internet and smart devices users.
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Kakao Pay Corp. operates a mobile payment system in South Korea. It operates in two segments, Non-financial Services and Financial Services. Its products include, money transfer, payment, membership, PFM, bill payment, investment, loan, insurance, and other recommended products. It serves the internet and smart devices users. The company was founded in 2017 and is based in Seongnam-si, South Korea.
Stock analysis
kakaopay Corp. (377300) currently trades at 40,650 KRW, while our model-based Fair Value estimate is 30,829 KRW, implying the stock looks roughly 31.9% overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 30,289 KRW per share, and 0 of the 24 models we run sit above the 40,650 KRW price.
Bear case: the Earnings-Based group reads lowest at 9,068 KRW, and 24 of the 24 models stay below the price. Evidence for this calculation is medium.
Scenario range: 29,191 KRW (bear) to 33,412 KRW (bull), the price of 40,650 KRW sits above 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 60/100 (solid quality), in the Technology sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
kakaopay Corp. reported revenue of 958B KRW in FY2025 versus 459B KRW in FY2021, a compound +20.2%/yr. Reported net income was 45.2B KRW in FY2025.
Key figures
Market cap 5.5T KRW (≈ $3.8B) · P/S ratio 5.28 · Net margin 4.7% · Return on equity 3.9% · Return on assets (EBIT) −0.8% · Operating margin 10.7% · Revenue (TTM) 1.0T KRW · Revenue growth (YoY) +41.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 43% below its 52-week high and 9% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −19% fair-value upside, at −24%, 377300 screens richer than that median.
Fair Value models
Bear 29,191 KRWFair Value 30,829 KRWBull 33,412 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.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.
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.90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+25.1%
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.
+22.5%
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.
+27.5%
Start year 2020 (pandemic)
Revenue growth 6 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.
+37.6%
’19
’20
’21
’22
’23
’24
’25
What shareholders gained per year (last 3 years), in KRW (mathematically smoothed) ⓘ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 3 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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. 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.
−6.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year−6.2%
Dividend (yield on the price)0.0%
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.−6% → 5%
2025 sits 58% above its own trend. The rate follows the median trend of the last 3 years, not that single year.
Growth Forecast
A lot of optimism in the price
The price assumes about as much growth as the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+30.3%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+14.8%
Yearly sales growth analysts expect, extended to five years.
After inflation (South Korea: IMF forecast 2.1% a year to 2030, 2.1% from 2016 to 2025) that is about +27.6% a year for the price and +12.4% for the forecasts.
Price, fair value, quality and upside side by side.
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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 - Infrastructure · 378 stocks
Beats the industry median on 6/9 measures
Overall it ranks above its industry peers.
Valuation
Quality Score60 · Above median
Fair Value upside−24% · Below median
Profitability
Return on equity (TTM)4% · Below median
Return on assets1% · Below median
Net margin (TTM)6% · Above median
Operating margin (TTM)11% · Above median
Growth and dividend
Revenue growth42% · Top 25%
Balance sheet
Debt / equity0.00× · Below median
Valuation Multiplesvs Software - Infrastructure median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "kakaopay Corp. Fair Value". https://www.fairvalue-calculator.com/stock/377300
Frequently asked questions
Is kakaopay Corp. (377300) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 30,829 KRW versus a price of 40,650 KRW, about −24% upside (overvalued).
What is the fair value of 377300?
Our model-based fair value for kakaopay Corp. is 30,829 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 40,650 KRW.
What is the quality score of 377300?
kakaopay Corp. has a Quality Score of 60/100. 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 kakaopay Corp. (377300)?
Our model-based price target is the fair value of 30,829 KRW (as of Sep 24, 2026) from 24 valuation models. Cautious scenario 29,191 KRW, optimistic scenario 33,412 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the kakaopay Corp. stock forecast for 2026?
Our models put fair value at 30,829 KRW, about −24% upside versus a price of 40,650 KRW (overvalued). Cautious scenario 29,191 KRW, optimistic scenario 33,412 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of kakaopay Corp. (377300)?
kakaopay Corp. reported trailing-twelve-month revenue of about 1.0T KRW (latest available figure, as of Sep 24, 2026).
What growth is priced into kakaopay Corp. (377300)?
For today's price to be fair in a discounted-cash-flow model, kakaopay Corp. would have to grow free cash flow by +30.3 % per year for five years (discount rate 12.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +27.5 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 377300 use?
Our models discount kakaopay Corp. at 12.6 %: a base by market capitalisation (mid), damped by beta 1.96, country premium for South Korea. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For kakaopay Corp. that is +30.3 % per year a year over ten years, using the same discount rate (12.6 %) and the same formula as our fair value.
How much growth has kakaopay Corp. (377300) delivered so far?
Over the past 5 years revenue at kakaopay Corp. grew +27.5 % a year. The price currently implies +30.3 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of kakaopay Corp. (377300) growing?
The median revenue growth in the sector is +8.3 % a year. That is the yardstick for the growth priced into kakaopay Corp. (+30.3 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of kakaopay Corp. (377300)?
The free-cash-flow yield on the price is 1.77 %: that much free cash flow kakaopay Corp. produces per unit of market value. When it exceeds the discount rate of our models (12.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of kakaopay Corp. (377300)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For kakaopay Corp. it is 30,829 KRW per share (as of Sep 24, 2026), against a price of 40,650 KRW. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is kakaopay Corp. stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 377300 trades above its calculated fair value: price 40,650 KRW, fair value 30,829 KRW, a gap of about −24% (overvalued). 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 377300?
No. The price is what the market pays today (40,650 KRW); the fair value is what the company's own numbers justify (30,829 KRW). For kakaopay Corp. the two are 9,821 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is kakaopay Corp. worth?
The market values kakaopay Corp. at about 5.5T KRW (market capitalisation, as of Sep 24, 2026). Per share that is 40,650 KRW; our models calculate a fair value of 30,829 KRW per share.
What do the bullish and bearish scenarios say about 377300?
Our models span a range for kakaopay Corp.: cautious scenario 29,191 KRW, base 30,829 KRW, optimistic 33,412 KRW per share (as of Sep 24, 2026, price 40,650 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of kakaopay Corp. (377300)?
Balance-sheet figures for kakaopay Corp. (as of Sep 24, 2026): return on equity 3.9%, debt of 0.00 per unit of equity. They feed the Quality Score of 60/100, which measures business quality independently of the share price.
How far is 377300 from its 52-week high?
kakaopay Corp. trades at 40,650 KRW, about 43% below its 52-week high of 70,900 KRW and 9% above the low of 37,450 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 30,829 KRW is for.
Which stocks are comparable to kakaopay Corp.?
From the same area (Technology) we also value Microsoft Corporation, Oracle Corporation, Palantir Technologies Inc, Palo Alto Networks, 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 kakaopay Corp. stock attractive at the current price?
The data as of Sep 24, 2026: price 40,650 KRW, calculated fair value 30,829 KRW (−24%), Quality Score 60/100, from 24 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 377300 calculated?
We run kakaopay Corp. through 24 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 30,829 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 14.1 % above its aggregate fair value. kakaopay Corp. itself currently trades above fair value. 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 kakaopay Corp. (377300)?
The closing price on Sep 23, 2026 was 40,650 KRW. Our model-based fair value is 30,829 KRW, about −24% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with kakaopay Corp. right now?
The price sits above even our optimistic bull case (33,412 KRW). The favourable scenario is already priced in. Solid but not exceptional quality (60/100) and above fair value, neither a clear bargain nor a standout compounder. The models converge in a tight band (29,191 KRW to 33,412 KRW), unusually little disagreement for a valuation.
Key figures of kakaopay Corp.
How large is the market capitalisation of kakaopay Corp. (377300)?
The market capitalisation of kakaopay Corp. is 5.5T KRW (≈ $3.8B). 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 kakaopay Corp. (377300)?
The price-to-sales ratio of kakaopay Corp. is 5.28 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the net margin of kakaopay Corp. (377300)?
The net margin of kakaopay Corp. is 4.7% (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 kakaopay Corp. (377300)?
The return on equity (ROE) of kakaopay Corp. is 3.9% (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 kakaopay Corp. (377300)?
On an EBIT basis the return on assets of kakaopay Corp. is −0.8% (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 kakaopay Corp. (377300)?
The operating margin of kakaopay Corp. is 10.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at kakaopay Corp. (377300)?
Revenue at kakaopay Corp. is growing +41.7% versus a year earlier (3y avg +22.5%). 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 kakaopay Corp. (377300)?
Earnings per share at kakaopay Corp. are growing +112% versus a year earlier. How much earnings per share grew versus a year earlier.
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