NH All One REIT Co Ltd (400760) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of NH All One REIT Co Ltd stock KRW 1,488, price KRW 2,255, that is 34.0% below the price, quality 41 out of 100. Rating: overvalued. Calculated from audited financials with 9 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.
How to read this chart
60‑month range 2,034 KRW – 3,807 KRW · fair‑value band 854.03 KRW – 1,960 KRW · the 2,255 KRW price screens above the 1,488 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.
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NH All One REITs Co., Ltd. is a publicly listed real estate investment trust (REIT) focused on owning and managing income-producing commercial real estate assets in South Korea.
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Its portfolio includes office buildings, logistics facilities, retail properties, and mixed-use assets located in key metropolitan markets.
The REIT generates recurring rental income from high-quality tenants and seeks to provide stable dividends while pursuing long-term portfolio growth through strategic property acquisitions and asset management.
Stock analysis
NH All One REIT Co Ltd (400760) currently trades at 2,255 KRW, while our model-based Fair Value estimate is 1,488 KRW, 34% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 3,855 KRW per share, and 2 of the 6 models we run sit above the 2,255 KRW price.
Bear case: the Dividend Discount group reads lowest at 1,689 KRW, and 4 of the 6 models stay below the price. Data coverage for this calculation is medium.
Scenario range: 854.03 KRW (bear) to 1,960 KRW (bull), the price of 2,255 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 41/100 (below-average quality), in the Real Estate sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
NH All One REIT Co Ltd reported revenue of 27.9B KRW in FY2026 versus 18.1B KRW in FY2022, a compound +11.5%/yr. Reported net income was 1.4B KRW in FY2026, compounding −17.6%/yr from FY2022.
Key figures
Market cap 124B KRW (≈ $90.8M) Micro · P/S ratio 2.61 · EPS (TTM) −66.70 KRW · Dividend yield 13.3% · Net margin −6.9% · Return on equity −2.0% · Return on assets (EBIT) 1.7% (5-year average) · Operating margin 44.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 36 out of 100 (low confidence).
What moves the price
The share trades about 36% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at 5% fair-value upside, at −34%, 400760 screens richer than that median.
Fair Value models
Bear854.03 KRWFair Value 1,488 KRWBull1,960 KRW
Price 2,255 KRW · Downside -34.0%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = 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.
Best data coverage
FCF DCFn/an/a1,516 KRW77
Residual Income1,974 KRW2,111 KRW2,306 KRW76
5Y EBITDA Exitn/an/a3,700 KRW72
All 9 models by family
DCF Models
FCF DCFn/an/a1,516 KRW77
5Y EBITDA Exitn/an/a3,700 KRW72
10Y EBITDA Exitn/an/a2,893 KRW65
Dividend Discount
Gordon GGM1,005 KRW1,750 KRW2,343 KRW68
DDM Multi-Stage1,005 KRW1,627 KRW1,876 KRW67
Multiples
P/S Multiple322.97 KRW430.63 KRW538.28 KRW58
P/B Multiple5,459 KRW7,279 KRW9,099 KRW55
Asset-Based
NCAV (Graham)1,820 KRW2,438 KRW3,639 KRW54
Economic Profit
Residual Income1,974 KRW2,111 KRW2,306 KRW76
The fair value above starts from this blend and is adjusted for dilution from new shares.
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.84/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+27.7%
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.
+11.4%
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.
+11.4%
Start year 2021 (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.
+17.8%
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What shareholders gained per year (last 5 years), in KRW ⓘ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 5 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. Basis: EBIT basis. 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.
+22.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year+9.4%
Dividend (yield on the price)13.3%
Profit margin 2021 to 2026 ⓘ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.54% → 67%
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
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).
+46.8%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (South Korea: IMF forecast 2.1% a year to 2030, 2.1% from 2016 to 2025) that is about +43.8% a year for the price.
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.REIT - Diversified · 138 stocks
Beats the industry median on 3/12 measures
Overall it trails its industry peers.
Valuation
Quality Score41 · Bottom 25%
Fair Value upside−34.0% · Below median
Profitability
Return on assets0.2% · Bottom 25%
Net margin (12 months)−6.9% · Bottom 25%
Operating margin (12 months)44.9% · Below median
Growth and dividend
Revenue growth (quarter YoY)0.0% · Below median
Dividend yield (12 months)13.3% · Top 25%
Balance sheet
Debt / equity2.64× · Highest 25%
Valuation Multiplesvs REIT - Diversified median · lower = cheaper
P/B0.61× · Cheaper than median
P/S (12 months)2.33× · Cheapest 25%
Price / free cash flow (fiscal year)15.3× · Pricier than median
EV/EBITDA17.3× · Pricier than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 24
FUTURE (revenue growth)0· sector 16
PAST (return on equity)0· sector 21
HEALTH (low debt)0· sector 77
DIVIDEND (yield)100· sector 100
VALUE 0: the price sits above our fair-value range.
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). "NH All One REIT Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/400760
Frequently asked questions
Is NH All One REIT Co Ltd (400760) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of 1,488 KRW versus a price of 2,255 KRW, about 34% lower (overvalued).
What is the fair value of 400760?
Our model-based fair value for NH All One REIT Co Ltd is 1,488 KRW (as of Nov 7, 2026), built from audited fundamentals. The current price: 2,255 KRW.
What is the quality score of 400760?
NH All One REIT Co Ltd 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 price target for NH All One REIT Co Ltd (400760)?
Our model-based price target is the fair value of 1,488 KRW (as of Nov 7, 2026) from 9 valuation models. Cautious scenario 854.03 KRW, optimistic scenario 1,960 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the NH All One REIT Co Ltd stock forecast for 2026?
Our models put fair value at 1,488 KRW, about 34% lower versus a price of 2,255 KRW (overvalued). Cautious scenario 854.03 KRW, optimistic scenario 1,960 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of NH All One REIT Co Ltd (400760)?
NH All One REIT Co Ltd reported trailing-twelve-month revenue of about 53.3B KRW (latest available figure, as of Nov 7, 2026).
Does NH All One REIT Co Ltd pay a dividend?
NH All One REIT Co Ltd currently shows a dividend yield of 13.30% relative to its recent price (as of Nov 7, 2026).
How much is the dividend of NH All One REIT Co Ltd (400760) and when is the ex-dividend date?
NH All One REIT Co Ltd pays a dividend of 300.00 KRW per share a year, a dividend yield of 13.3%. The last ex-dividend date was Jun 29, 2026. A dividend has been paid every year since at least 2021. Free cash flow covers the dividend 0.49 times. Our assessment: Pays more than it earns. The company pays out more in dividends than it earns, and free cash flow clearly does not cover the dividend either. It may need to be cut unless profits recover.
What growth is priced into NH All One REIT Co Ltd (400760)?
For today's price to be fair in a discounted-cash-flow model, NH All One REIT Co Ltd would have to grow free cash flow by +46.8 % per year for five years (discount rate 11.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +11.4 % per year. As of Nov 7, 2026.
What discount rate (WACC) does the fair value of 400760 use?
Our models discount NH All One REIT Co Ltd at 11.6 %: a base by market capitalisation (micro), damped by beta 0.22, 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 NH All One REIT Co Ltd that is +46.8 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (11.6 %) and the same formula as our fair value.
How much growth has NH All One REIT Co Ltd (400760) delivered so far?
Over the past 5 years revenue at NH All One REIT Co Ltd grew +11.4 % a year. The price currently implies free-cash-flow growth of +46.8 % per 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 NH All One REIT Co Ltd (400760) growing?
The median revenue growth in the sector is +2.7 % a year. That is the yardstick for the growth priced into NH All One REIT Co Ltd (+46.8 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of NH All One REIT Co Ltd (400760)?
The free-cash-flow yield on the price is 6.54 %: that much free cash flow NH All One REIT Co Ltd produces per unit of market value. When it exceeds the discount rate of our models (11.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of NH All One REIT Co Ltd (400760)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For NH All One REIT Co Ltd it is 1,488 KRW per share (as of Nov 7, 2026), against a price of 2,255 KRW. It is the blended result of 9 valuation models in 5 families (DCF Models, Dividend Discount, Multiples, Asset-Based, Economic Profit).
Is NH All One REIT Co Ltd stock overvalued or undervalued in 2026?
As of Nov 7, 2026, 400760 trades above its calculated fair value: price 2,255 KRW, fair value 1,488 KRW, a gap of about −34% (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 400760?
No. The price is what the market pays today (2,255 KRW); the fair value is what the company's own numbers justify (1,488 KRW). For NH All One REIT Co Ltd the two are 767.25 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is NH All One REIT Co Ltd worth?
The market values NH All One REIT Co Ltd at about 124B KRW (market capitalisation, as of Nov 7, 2026). Per share that is 2,255 KRW; our models calculate a fair value of 1,488 KRW per share.
What do the bullish and bearish scenarios say about 400760?
Our models span a range for NH All One REIT Co Ltd: cautious scenario 854.03 KRW, base 1,488 KRW, optimistic 1,960 KRW per share (as of Nov 7, 2026, price 2,255 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of NH All One REIT Co Ltd (400760)?
Balance-sheet figures for NH All One REIT Co Ltd (as of Nov 7, 2026): return on equity −2.0%, debt of 2.64 per unit of equity. They feed the Quality Score of 41/100, which measures business quality independently of the share price.
How far is 400760 from its 52-week high?
NH All One REIT Co Ltd trades at 2,255 KRW, about 36% below its 52-week high of 3,500 KRW and at the low of 2,255 KRW (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 1,488 KRW is for.
Which stocks are comparable to NH All One REIT Co Ltd?
From the same area (Real Estate) we also value Goodman Group, VICI Properties Inc, W. P. Carey Inc, Charter Hall Group, 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 NH All One REIT Co Ltd stock attractive at the current price?
The data as of Nov 7, 2026: price 2,255 KRW, calculated fair value 1,488 KRW (−34%), Quality Score 41/100, from 9 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 400760 calculated?
We run NH All One REIT Co Ltd through 9 models from 5 families: DCF Models, Dividend Discount, Multiples, Asset-Based, Economic Profit. Every model gets the same audited fundamentals; the fair value of 1,488 KRW builds on their evidence-weighted average, 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 13.0% above its aggregate fair value. NH All One REIT Co Ltd 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 NH All One REIT Co Ltd (400760)?
The closing price on Nov 6, 2026 was 2,255 KRW. Our model-based fair value is 1,488 KRW, about 34% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with NH All One REIT Co Ltd right now?
The price sits above even our optimistic bull case (1,960 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. A fairly wide model range (854.03 KRW to 1,960 KRW) leaves room in how you read the outcome. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Key figures of NH All One REIT Co Ltd
How large is the market capitalisation of NH All One REIT Co Ltd (400760)?
The market capitalisation of NH All One REIT Co Ltd is 124B KRW (≈ $90.8M). 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 NH All One REIT Co Ltd (400760)?
The price-to-sales ratio of NH All One REIT Co Ltd is 2.61 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of NH All One REIT Co Ltd (400760)?
Earnings per share at NH All One REIT Co Ltd are −66.70 KRW. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of NH All One REIT Co Ltd (400760)?
The dividend yield of NH All One REIT Co Ltd is 13.3%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of NH All One REIT Co Ltd (400760)?
The net margin of NH All One REIT Co Ltd is −6.9% (last twelve months). 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 NH All One REIT Co Ltd (400760)?
The return on equity (ROE) of NH All One REIT Co Ltd is −2.0% (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 NH All One REIT Co Ltd (400760)?
On an EBIT basis the return on assets of NH All One REIT Co Ltd is 1.7% (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 NH All One REIT Co Ltd (400760)?
The operating margin of NH All One REIT Co Ltd is 44.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How much net debt does NH All One REIT Co Ltd (400760) carry?
The net debt of NH All One REIT Co Ltd is 670B KRW (fiscal year 2026, ≈ 82.8 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Some data
Nov 7, 2026