KB Star REIT Co. Ltd. (432320) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of KB Star REIT Co. Ltd. stock KRW 1,580, price KRW 1,324, upside +19.4%, quality 50 out of 100. Rating: undervalued. Calculated from audited financials with 7 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 6, 2026.
How to read this chart
49‑month range 1,267 KRW – 3,402 KRW · fair‑value band 921.99 KRW – 2,457 KRW · the 1,324 KRW price screens below the 1,580 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 6, 2026.
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KB STAR REIT Co., Ltd. is headquartered in South Korea.
Stock analysis
KB Star REIT Co. Ltd. (432320) currently trades at 1,324 KRW, while our model-based Fair Value estimate is 1,580 KRW, implying the stock looks roughly 16% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of 2,378 KRW per share, and 5 of the 7 models we run sit above the 1,324 KRW price.
Bear case: the Asset-Based group reads lowest at 1,187 KRW, and 2 of the 7 models stay below the price. Data coverage for this calculation is low.
Scenario range: 921.99 KRW (bear) to 2,457 KRW (bull), the price of 1,324 KRW sits inside 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 50/100 (solid quality), in the Real Estate sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
KB Star REIT Co. Ltd. reported revenue of 32.4B KRW in FY2026 versus 28.6B KRW in FY2023, a compound +4.2%/yr. Reported net income was −21.1B KRW in FY2026.
Key figures
Market cap 147B KRW (≈ $108M) Micro · P/S ratio 2.81 · Net margin −65.1% · Return on equity −14.6% · Return on assets (EBIT) −2.3% (5-year average) · Operating margin 53.4% · Revenue (TTM) 64.7B KRW · Revenue growth (YoY) −2.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 31 out of 100 (medium confidence).
What moves the price
The share trades about 60% below its 52-week high and 4% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at −1% fair-value upside, at 19%, 432320 screens cheaper than that median.
Fair Value models
Bear921.99 KRWFair Value 1,580 KRWBull2,457 KRW
Price 1,324 KRW · Upside +19.4%
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.
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.44/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+18.1%
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.
+4.2%
’23
’24
’25
’26
Profit margin (trend) ⓘ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.
−75.0% (2023) → −2.7% (2026)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2026 is a loss year, no rate is defined from a loss
not computed
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).
+29.2%
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 +26.6% 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 - Office · 63 stocks
Beats the industry median on 5/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score50 · Below median
Fair Value upside+19.4% · Above median
Profitability
Return on assets−1.9% · Bottom 25%
Net margin (12 months)−65.1% · Bottom 25%
Operating margin (12 months)53.4% · Above median
Growth and dividend
Revenue growth (quarter YoY)−2.4% · Below median
Dividend yield (12 months)20.7% · Top 25%
Balance sheet
Debt / equity0.74× · Above median
Valuation Multiplesvs REIT - Office median · lower = cheaper
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Cite: Fair Value Calculator (2026). "KB Star REIT Co. Ltd. Fair Value". https://www.fairvalue-calculator.com/stock/432320
Frequently asked questions
Is KB Star REIT Co. Ltd. (432320) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of 1,580 KRW versus a price of 1,324 KRW, about +19% upside (undervalued).
What is the fair value of 432320?
Our model-based fair value for KB Star REIT Co. Ltd. is 1,580 KRW (as of Nov 6, 2026), built from audited fundamentals. The current price: 1,324 KRW.
What is the quality score of 432320?
KB Star REIT Co. Ltd. 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 price target for KB Star REIT Co. Ltd. (432320)?
Our model-based price target is the fair value of 1,580 KRW (as of Nov 6, 2026) from 7 valuation models. Cautious scenario 921.99 KRW, optimistic scenario 2,457 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the KB Star REIT Co. Ltd. stock forecast for 2026?
Our models put fair value at 1,580 KRW, about +19% upside versus a price of 1,324 KRW (undervalued). Cautious scenario 921.99 KRW, optimistic scenario 2,457 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of KB Star REIT Co. Ltd. (432320)?
KB Star REIT Co. Ltd. reported trailing-twelve-month revenue of about 64.7B KRW (latest available figure, as of Nov 6, 2026).
What growth is priced into KB Star REIT Co. Ltd. (432320)?
For today's price to be fair in a discounted-cash-flow model, KB Star REIT Co. Ltd. would have to grow free cash flow by +29.2 % per year for five years (discount rate 11.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 3 years revenue grew +4.2 % per year. As of Nov 6, 2026.
What discount rate (WACC) does the fair value of 432320 use?
Our models discount KB Star REIT Co. Ltd. at 11.6 %: a base by market capitalisation (micro), damped by beta 0.47, 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 KB Star REIT Co. Ltd. that is +29.2 % 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 KB Star REIT Co. Ltd. (432320) delivered so far?
Over the past 3 years revenue at KB Star REIT Co. Ltd. grew +4.2 % a year. The price currently implies free-cash-flow growth of +29.2 % 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 KB Star REIT Co. Ltd. (432320) growing?
The median revenue growth in the sector is +14.1 % a year. That is the yardstick for the growth priced into KB Star REIT Co. Ltd. (+29.2 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of KB Star REIT Co. Ltd. (432320)?
The free-cash-flow yield on the price is 14.76 %: that much free cash flow KB Star 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 KB Star REIT Co. Ltd. (432320)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For KB Star REIT Co. Ltd. it is 1,580 KRW per share (as of Nov 6, 2026), against a price of 1,324 KRW. It is the blended result of 7 valuation models in 3 families (DCF Models, Asset-Based, Growth DCF).
Is KB Star REIT Co. Ltd. stock overvalued or undervalued in 2026?
As of Nov 6, 2026, 432320 trades below its calculated fair value: price 1,324 KRW, fair value 1,580 KRW, a gap of about +19% (undervalued). 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 432320?
No. The price is what the market pays today (1,324 KRW); the fair value is what the company's own numbers justify (1,580 KRW). For KB Star REIT Co. Ltd. the two are 256.30 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is KB Star REIT Co. Ltd. worth?
The market values KB Star REIT Co. Ltd. at about 147B KRW (market capitalisation, as of Nov 6, 2026). Per share that is 1,324 KRW; our models calculate a fair value of 1,580 KRW per share.
What do the bullish and bearish scenarios say about 432320?
Our models span a range for KB Star REIT Co. Ltd.: cautious scenario 921.99 KRW, base 1,580 KRW, optimistic 2,457 KRW per share (as of Nov 6, 2026, price 1,324 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of KB Star REIT Co. Ltd. (432320)?
Balance-sheet figures for KB Star REIT Co. Ltd. (as of Nov 6, 2026): return on equity −14.6%, debt of 0.74 per unit of equity. They feed the Quality Score of 50/100, which measures business quality independently of the share price.
How far is 432320 from its 52-week high?
KB Star REIT Co. Ltd. trades at 1,324 KRW, about 60% below its 52-week high of 3,315 KRW and 4% above the low of 1,267 KRW (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 1,580 KRW is for.
Which stocks are comparable to KB Star REIT Co. Ltd.?
From the same area (Real Estate) we also value BXP, Inc, MERLIN Properties SOCIMI, S.A, Alexandria Real Estate Equities, Inc, Vornado Realty Trust, 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 KB Star REIT Co. Ltd. stock attractive at the current price?
The data as of Nov 6, 2026: price 1,324 KRW, calculated fair value 1,580 KRW (+19%), Quality Score 50/100, from 7 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 432320 calculated?
We run KB Star REIT Co. Ltd. through 7 models from 3 families: DCF Models, Asset-Based, Growth DCF. Every model gets the same audited fundamentals; the fair value of 1,580 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 13.3% above its aggregate fair value. KB Star REIT Co. Ltd. currently trades 16% below its own fair value, and the market average says nothing about that. 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 KB Star REIT Co. Ltd. (432320)?
The closing price on Nov 6, 2026 was 1,324 KRW. Our model-based fair value is 1,580 KRW, about +19% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with KB Star REIT Co. Ltd. right now?
The model range is unusually wide (921.99 KRW to 2,457 KRW). The outcome hinges heavily on assumptions, so read the point estimate with caution. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Key figures of KB Star REIT Co. Ltd.
How large is the market capitalisation of KB Star REIT Co. Ltd. (432320)?
The market capitalisation of KB Star REIT Co. Ltd. is 147B KRW (≈ $108M). 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 KB Star REIT Co. Ltd. (432320)?
The price-to-sales ratio of KB Star REIT Co. Ltd. is 2.81 (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 KB Star REIT Co. Ltd. (432320)?
The net margin of KB Star REIT Co. Ltd. is −65.1% (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 KB Star REIT Co. Ltd. (432320)?
The return on equity (ROE) of KB Star REIT Co. Ltd. is −14.6% (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 KB Star REIT Co. Ltd. (432320)?
On an EBIT basis the return on assets of KB Star REIT Co. Ltd. is −2.3% (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 KB Star REIT Co. Ltd. (432320)?
The operating margin of KB Star REIT Co. Ltd. is 53.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at KB Star REIT Co. Ltd. (432320)?
Revenue at KB Star REIT Co. Ltd. is growing −2.4% versus a year earlier (3y avg +4.2%). 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 KB Star REIT Co. Ltd. (432320)?
Earnings per share at KB Star REIT Co. Ltd. are growing −7.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does KB Star REIT Co. Ltd. (432320) carry?
The net debt of KB Star REIT Co. Ltd. is 773B KRW (fiscal year 2026, ≈ 35.8 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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Thin data
Nov 6, 2026