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OBZEN Inc (417860) Fair Value & Analysis

Technology · KR · Market cap 29.8B KRW

OI OBZEN Inc 417860 · KQ
Price7,370 KRW
Fair Value6,043 KRW
Upside-18.0%
Quality42/100
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Weak Growth
Loss-making · -16.0% net margin
Low debt · generates free cash flow
Mixed vs. peers (5/9)
Narrow moat 17/100
Evidence: Medium Range 5,701 KRW – 6,385 KRW Share as image

Fair value as of: Jul 21, 2026

From 13 valuation models · updated 20 days ago

Fair value updated Jul 21, 2026, revised from 6,377 KRW to 6,043 KRW (−5.2%) since Jul 9, 2026. Share price +8.7% over the past month.

Below-average quality, and screening another 18% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (6,385 KRW). The favourable scenario is already priced in.
  • Weak quality (42/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • The models converge in a tight band (5,701 KRW to 6,385 KRW), unusually little disagreement for a valuation.
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Price vs Fair Value (4 years)

75,300 KRW 5,920 KRW Fair Value 6,043 KRW Jan 2023 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

42‑month range 5,920 KRW – 75,300 KRW · fair‑value band 5,701 KRW – 6,385 KRW · the 7,370 KRW price screens above the 6,043 KRW fair value. Dashed = 300-day average. As of Jul 21, 2026.

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Analysis

OBZEN Inc (417860) currently trades at 7,370 KRW, while our model-based Fair Value estimate is 6,043 KRW, implying the stock looks roughly 18.0% overvalued today. The Quality Score stands at 42/100 (below-average 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: medium).

Over the trailing twelve months, OBZEN Inc generated revenue of 22.4B KRW at a net margin of -16.0%. Revenue grew 35.0% year over year. It earns a return on equity of -43.3%. Fundamentals as of Jul 21, 2026

Our scenario range runs from 5,701 KRW (bear case) to 6,385 KRW (bull case); at 7,370 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 78% below its 52-week high and 13% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -27% fair-value upside, at -18%, 417860 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 9,826 KRW 12,067 KRW 15,190 KRW 80
Rev-Margin DCF 6,784 KRW 7,313 KRW 7,938 KRW 74
ROIC Compounder 5,103 KRW 5,175 KRW 5,237 KRW 72
All 13 models by family
DCF Models
FCF DCF 9,703 KRW 12,166 KRW 15,778 KRW 38
5Y Revenue Exit 6,784 KRW 7,220 KRW 7,691 KRW 39
5Y EBITDA Exit 8,803 KRW 10,888 KRW 13,231 KRW 41
10Y Revenue Exit 7,801 KRW 8,418 KRW 9,090 KRW 36
10Y EBITDA Exit 9,089 KRW 10,924 KRW 13,205 KRW 37
Earnings-Based
EPV 5,103 KRW 5,175 KRW 5,237 KRW 59
Multiples
EV/EBIT 5,701 KRW 6,043 KRW 6,385 KRW 53
EV/EBITDA 8,793 KRW 10,165 KRW 11,538 KRW 54
EV/Revenue 5,193 KRW 5,416 KRW 5,638 KRW 43
Asset-Based
NCAV (Graham) 1,145 KRW 1,535 KRW 2,290 KRW 50
Growth DCF
Growth DCF 9,826 KRW 12,067 KRW 15,190 KRW 80
Rev-Margin DCF 6,784 KRW 7,313 KRW 7,938 KRW 74
Economic Profit
ROIC Compounder 5,103 KRW 5,175 KRW 5,237 KRW 72

Widest divergence: DCF Models (10,888 KRW) versus Asset-Based (1,535 KRW). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 22.4B KRW
Revenue growth (YoY) +35.0%
Net margin -16.0%
Return on equity -43.3%
Free cash flow 2.2B KRW FY2025
Operating margin 1.9%

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

Quality Score breakdown

Overall quality 42/100

Of which business quality 45 · Market factors (momentum, volatility) 9

Profitability 22
Margins and returns on capital today
Quality Growth 67
Are margins and returns improving?
Cashflow 63
Earnings quality: real cash, not paper profit
Fin. Strength 38
Balance sheet, leverage, solvency risk
Investment 33
Disciplined investing over empire-building
Low Volatility 22
Calm price path (market factor)
Momentum 3
Price trend over the last 3–12 months (market factor)
52W Momentum 6
Distance to the 52-week high (market factor)
Net Issuance 55
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

OBZEN Inc., an enterprise software company, provides data, analysis, and marketing solutions in South Korea. It offers digital marketing solution; marketing automation solution; artificial intelligence (AI) model development, operation, and management automation solution; business intelligence solution; data preprocessing solution; and big data solution.

Full company description

OBZEN Inc., an enterprise software company, provides data, analysis, and marketing solutions in South Korea. It offers digital marketing solution; marketing automation solution; artificial intelligence (AI) model development, operation, and management automation solution; business intelligence solution; data preprocessing solution; and big data solution. The company also provides system building services; and marketing consulting, AI analysis model, and marketing operation agency. It serves finance, distribution, telecommunication, and service industries. OBZEN Inc. was incorporated in 2000 and is based in Seoul, South Korea.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

OBZEN Inc reported revenue of 24.0B KRW in FY2025 versus 20.1B KRW in FY2021, a compound +4.6%/yr. Reported net income was −3.2B KRW in FY2025.

Growth Quality 29/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
24.0B KRW
Latest YoY
+58.0%
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.
−2.5%
Revenue +4.6%/yr
FY21 20.1B KRW
FY22 25.9B KRW
FY23 17.0B KRW
FY24 15.2B KRW
FY25 24.0B KRW
Net income
FY21 −3.2B KRW
FY22 −1.9B KRW
FY23 −5.4B KRW
FY24 −3.3B KRW
FY25 −3.2B KRW

417860 screens 18% overvalued. Compare with SAP SE →

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Cite: Fair Value Calculator (2026). "OBZEN Inc Fair Value". https://www.fairvalue-calculator.com/stock/417860

Peer Group

Software - Application · 709 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 42 · Below median
Fair Value upside −18% · Above median
Return on assets 1% · Above median
Net margin (TTM) -16% · Bottom 25%
Operating margin (TTM) 2% · Below median
Revenue growth 35% · Top 25%

Valuation Multiples vs Software - Application 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 9 · sector 0
FUTURE 100 · sector 38
PAST 0 · sector 13
HEALTH 100 · sector 98
DIVIDEND 0 · sector 28

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

Stock Price Fair Value vs Fair Value
SAP SE SAPS C$12.69 C$16.26 +28%
Shopify Inc SHOP C$173.23 C$20.54 -88%
Uber Technologies, Inc UBER $72.67 $51.11 -30%
Salesforce, Inc CRM $170.77 $182.10 +7%
ServiceNow, Inc NOW $107.71 $33.12 -69%
Cadence Design Systems, Inc CDNS $384.17 $80.41 -79%
Snowflake Inc SNOW $271.87 $34.04 -87%
Adobe Inc ADBE $230.61 $379.48 +65%
Automatic Data Processing, Inc ADP $241.92 $177.51 -27%
Intuit Inc INTU $291.09 $258.69 -11%

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Frequently asked questions

Is OBZEN Inc (417860) overvalued or undervalued?
As of Jul 21, 2026, our model estimates a fair value of 6,043 KRW versus a price of 7,370 KRW, about −18% (overvalued).
What is the fair value of 417860?
Our model-based fair value for OBZEN Inc is 6,043 KRW (as of Jul 21, 2026), built from audited fundamentals. The current price is 7,370 KRW.
What is the quality score of 417860?
OBZEN Inc has a Quality Score of 42/100. 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 OBZEN Inc (417860)?
OBZEN Inc reported trailing-twelve-month revenue of about 22.4B KRW (latest available figure, as of Jul 21, 2026).
What is the net profit margin of 417860?
The net profit margin of OBZEN Inc is about -16.0%, 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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