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Bi Matrix Co., Ltd (413640) fair value: what the stock is really worth

As of Sep 23, 2026: fair value of Bi Matrix Co., Ltd KRW 2,153, price KRW 6,030, upside -64.3%, quality 44 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
  3. Add to watchlist

Technology · KR

BM Thin data Sep 24, 2026

Bi Matrix Co., Ltd

413640 · KQ

Weakest SetupStrongly overvalued and low quality.

!Fair value 2,153 KRW · Strongly overvalued (−64%)
!Quality 44/100
!Expensive Growth (revenue 3y +4.4 %/yr)
!Thin margins · 7.8% net margin (TTM)
!Low debt · negative free cash flow
!Trails peers (2/8)
!Narrow moat 30/100
!Evidence only low, so the estimate is less certain
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

23,950 KRW 5,500 KRW Fair Value 2,153 KRW Nov 2023 Sep 2026

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

34‑month range 5,500 KRW – 23,950 KRW · fair‑value band 1,456 KRW – 3,215 KRW · the 6,030 KRW price screens above the 2,153 KRW fair value. Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

Bi Matrix Co., Ltd. engages in the business intelligence (BI)/big data/SCM software development, consulting, and installation activities in South Korea and internationally.

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Bi Matrix Co., Ltd. engages in the business intelligence (BI)/big data/SCM software development, consulting, and installation activities in South Korea and internationally. It offers i-MATRIX, a user-centered BI solution optimized for creating complex structured reports; i-AUD, a BI solution optimized for creating EIS/dashboard; i-STREAM, an integrated data analytics solution that supports the steps from extracting to visualizing the data; and i-BIG, a big data analytics platform for analyzing the volume of corporate data. The company also provides AI based advanced analytics, data mining, and document sharing/collaboration solutions; BI and big data analytics system, and data warehouse and mart buildup consulting services; and seminar solutions. Bi Matrix Co., Ltd. was founded in 2005 and is headquartered in Seoul, South Korea.

Stock analysis

Bi Matrix Co., Ltd (413640) currently trades at 6,030 KRW, while our model-based Fair Value estimate is 2,153 KRW, implying the stock looks roughly 180.1% overvalued today.

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Valuation

Bull case: the Growth Earnings group reads highest at a median of 7,997 KRW per share, and 3 of the 15 models we run sit above the 6,030 KRW price.

Bear case: the Economic Profit group reads lowest at 1,185 KRW, and 12 of the 15 models stay below the price. Evidence for this calculation is low.

Scenario range: 1,456 KRW (bear) to 3,215 KRW (bull), the price of 6,030 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 44/100 (below-average quality), in the Technology sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Bi Matrix Co., Ltd reported revenue of 31.4B KRW in FY2025 versus 20.9B KRW in FY2021, a compound +10.7%/yr. Reported net income was 2.4B KRW in FY2025, compounding −0.2%/yr from FY2021.

Key figures

Market cap 42.9B KRW (≈ $31.6M) · P/S ratio 1.36 · Net margin 7.6% · Return on equity 8.3% · Return on assets (EBIT) 6.4% · Operating margin −13.3% · Revenue (TTM) 31.6B KRW · Revenue growth (YoY) −19.2%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).

What moves the price

The share trades about 60% below its 52-week high and 10% 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 −64%, 413640 screens richer than that median.

Fair Value models

Bear 1,456 KRW Fair Value 2,153 KRW Bull 3,215 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.
Highest evidence
Owner Earnings 3,917 KRW 5,796 KRW 8,511 KRW 73
EPV 1,047 KRW 1,185 KRW 1,304 KRW 71
ROIC Compounder 1,047 KRW 1,185 KRW 1,304 KRW 69
All 15 models by family
DCF Models
Owner Earnings 3,917 KRW 5,796 KRW 8,511 KRW 73
Earnings-Based
Graham-Dodd 2,286 KRW 6,772 KRW 8,961 KRW 62
Lynch FV 1,424 KRW 2,034 KRW 2,644 KRW 58
PEG = 1.0 1,424 KRW 2,034 KRW 2,644 KRW 55
EPV 1,047 KRW 1,185 KRW 1,304 KRW 71
Multiples
P/E Multiple 7,060 KRW 9,414 KRW 11,767 KRW 63
P/S Multiple 4,287 KRW 5,715 KRW 7,144 KRW 58
P/B Multiple 4,287 KRW 5,715 KRW 7,144 KRW 55
EV/EBIT 2,363 KRW 3,093 KRW 3,822 KRW 66
EV/EBITDA 3,711 KRW 4,890 KRW 6,069 KRW 67
EV/Revenue 1,281 KRW 1,755 KRW 2,229 KRW 54
Asset-Based
NCAV (Graham) 2,247 KRW 3,010 KRW 4,493 KRW 54
Economic Profit
Residual Income 3,633 KRW 3,833 KRW 4,134 KRW 68
ROIC Compounder 1,047 KRW 1,185 KRW 1,304 KRW 69
Growth Earnings
Growth-Adj P/E 5,598 KRW 7,997 KRW 10,396 KRW 65

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Quality Score breakdown

Overall quality 44/100

Of which business quality 46 · Market factors (momentum, volatility) 26

Profitability 46
Margins and returns on capital today
Quality Growth 32
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 79
Balance sheet, leverage, solvency risk
Investment 31
Disciplined investing over empire-building
Low Volatility 56
Calm price path (market factor)
Momentum 19
Price trend over the last 3–12 months (market factor)
52W Momentum 3
Distance to the 52-week high (market factor)
Net Issuance 90
Share count: buybacks or dilution?

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Revenue & earnings trend

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. 35/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+1.9%
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.
+4.4%
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. 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.
+0.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+0.1%
Dividend (yield on the price)0.0%
Profit margin 2021 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.14% → 3%

413640 screens 180% overvalued. Compare with Microsoft Corporation →

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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 · 383 stocks

Beats the industry median on 2/8 measures
Overall it trails its industry peers.
Valuation
Quality Score 44 · Below median
Fair Value upside −64% · Bottom 25%
Profitability
Return on equity (TTM) 8% · Above median
Return on assets 1% · Below median
Net margin (TTM) 8% · Above median
Operating margin (TTM) −13% · Bottom 25%
Growth and dividend
Revenue growth −19% · Bottom 25%
Balance sheet
Debt / equity 0.10× · Above median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 16
FUTURE (revenue growth)0 · sector 48
PAST (return on equity)33 · sector 18
HEALTH (low debt)95 · sector 97
DIVIDEND (yield)0 · sector 33

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

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

Similar stocks

10 more Software - Infrastructure stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Microsoft Corporation MSFT $498.00 $547.80 +10%
Oracle Corporation ORCL $149.20 $117.84 −21%
Palantir Technologies Inc PLTR $184.99 $43.02 −77%
Palo Alto Networks, Inc PANW $374.57 $114.50 −69%
CrowdStrike Holdings CRWD $262.49 $35.15 −87%
Fortinet, Inc FTNT $178.74 $164.92 −8%
Synopsys, Inc SNPS $413.06 $250.04 −39%
Block, Inc XYZ $74.68 $101.29 +36%
CoreWeave, Inc CRWV $86.90 $71.79 −17%
NetApp, Inc NTAP $192.91 $157.18 −19%

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Bi Matrix Co., Ltd · Fair Value
2,153 KRW −180%Fair Value
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Cite: Fair Value Calculator (2026). "Bi Matrix Co., Ltd Fair Value". https://www.fairvalue-calculator.com/stock/413640

Frequently asked questions

Is Bi Matrix Co., Ltd (413640) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 2,153 KRW versus a price of 6,030 KRW, about −64% upside (overvalued).
What is the fair value of 413640?
Our model-based fair value for Bi Matrix Co., Ltd is 2,153 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 6,030 KRW.
What is the quality score of 413640?
Bi Matrix Co., Ltd has a Quality Score of 44/100. 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 Bi Matrix Co., Ltd (413640)?
Our model-based price target is the fair value of 2,153 KRW (as of Sep 24, 2026) from 15 valuation models. Cautious scenario 1,456 KRW, optimistic scenario 3,215 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Bi Matrix Co., Ltd stock forecast for 2026?
Our models put fair value at 2,153 KRW, about −64% upside versus a price of 6,030 KRW (overvalued). Cautious scenario 1,456 KRW, optimistic scenario 3,215 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Bi Matrix Co., Ltd (413640)?
Bi Matrix Co., Ltd reported trailing-twelve-month revenue of about 31.6B KRW (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of Bi Matrix Co., Ltd (413640)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Bi Matrix Co., Ltd it is 2,153 KRW per share (as of Sep 24, 2026), against a price of 6,030 KRW. It is the blended result of 15 valuation models (cash flow, earnings, asset, dividend).
Is Bi Matrix Co., Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 413640 trades above its calculated fair value: price 6,030 KRW, fair value 2,153 KRW, a gap of about −64% (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 413640?
No. The price is what the market pays today (6,030 KRW); the fair value is what the company's own numbers justify (2,153 KRW). For Bi Matrix Co., Ltd the two are 3,877 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Bi Matrix Co., Ltd worth?
The market values Bi Matrix Co., Ltd at about 42.9B KRW (market capitalisation, as of Sep 24, 2026). Per share that is 6,030 KRW; our models calculate a fair value of 2,153 KRW per share.
What do the bullish and bearish scenarios say about 413640?
Our models span a range for Bi Matrix Co., Ltd: cautious scenario 1,456 KRW, base 2,153 KRW, optimistic 3,215 KRW per share (as of Sep 24, 2026, price 6,030 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Bi Matrix Co., Ltd (413640)?
Balance-sheet figures for Bi Matrix Co., Ltd (as of Sep 24, 2026): return on equity 8.3%, debt of 0.10 per unit of equity. They feed the Quality Score of 44/100, which measures business quality independently of the share price.
How far is 413640 from its 52-week high?
Bi Matrix Co., Ltd trades at 6,030 KRW, about 60% below its 52-week high of 14,960 KRW and 10% above the low of 5,500 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 2,153 KRW is for.
Which stocks are comparable to Bi Matrix Co., Ltd?
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 Bi Matrix Co., Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price 6,030 KRW, calculated fair value 2,153 KRW (−64%), Quality Score 44/100, from 15 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 413640 calculated?
We run Bi Matrix Co., Ltd through 15 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 2,153 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 13.0 % above its aggregate fair value. Bi Matrix 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 Bi Matrix Co., Ltd (413640)?
The closing price on Sep 23, 2026 was 6,030 KRW. Our model-based fair value is 2,153 KRW, about −64% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Bi Matrix Co., Ltd right now?
The price sits above even our optimistic bull case (3,215 KRW). The favourable scenario is already priced in. Weak quality (44/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range (1,456 KRW to 3,215 KRW) leaves room in how you read the outcome.

Key figures of Bi Matrix Co., Ltd

How large is the market capitalisation of Bi Matrix Co., Ltd (413640)?
The market capitalisation of Bi Matrix Co., Ltd is 42.9B KRW (≈ $31.6M). 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 Bi Matrix Co., Ltd (413640)?
The price-to-sales ratio of Bi Matrix Co., Ltd is 1.36 (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 Bi Matrix Co., Ltd (413640)?
The net margin of Bi Matrix Co., Ltd is 7.6% (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 Bi Matrix Co., Ltd (413640)?
The return on equity (ROE) of Bi Matrix Co., Ltd is 8.3% (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 Bi Matrix Co., Ltd (413640)?
On an EBIT basis the return on assets of Bi Matrix Co., Ltd is 6.4% (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 Bi Matrix Co., Ltd (413640)?
The operating margin of Bi Matrix Co., Ltd is −13.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Bi Matrix Co., Ltd (413640)?
Revenue at Bi Matrix Co., Ltd is growing −19.2% versus a year earlier (3y avg +4.4%). 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 Bi Matrix Co., Ltd (413640)?
Earnings per share at Bi Matrix Co., Ltd are growing −1.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Bi Matrix Co., Ltd (413640) generate?
The free cash flow of Bi Matrix Co., Ltd is −5.9B KRW (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Bi Matrix Co., Ltd (413640) carry?
The net debt of Bi Matrix Co., Ltd is 460M KRW (fiscal year 2025). 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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