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HB Investment, Inc (440290) Fair Value & Analysis

Financial Services · KR · Market cap 45.2B KRW

HI HB Investment, Inc 440290 · KQ
Price1,703 KRW
Fair Value3,328 KRW
Upside+95.4%
Quality58/100
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Healthy Growth
Highly profitable · 36.0% net margin
generates free cash flow
7.05% dividend yield
Ranks above peers (7/9)
Wide moat 67/100
Evidence: High Range 2,496 KRW – 4,160 KRW Share as image

Fair value as of: Jul 21, 2026

From 11 valuation models · updated 21 days ago

Fair value updated Jul 21, 2026, revised from 3,404 KRW to 3,328 KRW (−2.2%) since Jun 26, 2026. Share price −1.5% over the past month.

A solid business, screening 95% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (2,496 KRW). The market is more pessimistic than our downside scenario.
  • Solid quality (58/100) at a price below fair value, the discount is the argument here, not the business quality.
  • For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
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Price vs Fair Value (3 years)

5,586 KRW 1,282 KRW Fair Value 3,328 KRW Jan 2024 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

30‑month range 1,282 KRW – 5,586 KRW · fair‑value band 2,496 KRW – 4,160 KRW · the 1,703 KRW price screens below the 3,328 KRW fair value. Dashed = 300-day average. As of Jul 21, 2026.

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Analysis

HB Investment, Inc (440290) currently trades at 1,703 KRW, while our model-based Fair Value estimate is 3,328 KRW, implying the stock looks roughly 95.4% undervalued today. The Quality Score stands at 58/100 (solid quality), in the Financial Services sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, HB Investment, Inc generated revenue of 18.1B KRW at a net margin of 36.0%. Revenue grew 34.7% year over year. It earns a return on equity of 7.7%. Fundamentals as of Jul 21, 2026

Our scenario range runs from 2,496 KRW (bear case) to 4,160 KRW (bull case); at 1,703 KRW, the current price sits below 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 28% below its 52-week high, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at -12% fair-value upside, at 95%, 440290 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
Residual Income 2,607 KRW 2,738 KRW 2,922 KRW 76
Growth DCF 1,658 KRW 2,705 KRW 4,394 KRW 72
Rev-Margin DCF 1,297 KRW 2,066 KRW 3,007 KRW 67
All 11 models by family
DCF Models
Owner Earnings 2,895 KRW 4,824 KRW 7,968 KRW 31
5Y P/E Exit 2,600 KRW 4,627 KRW 6,862 KRW 38
10Y P/E Exit 2,253 KRW 3,948 KRW 6,215 KRW 35
Earnings-Based
Graham-Dodd 1,518 KRW 5,867 KRW 7,954 KRW 54
Lynch FV 1,436 KRW 2,051 KRW 2,667 KRW 50
Multiples
P/E Multiple 3,348 KRW 4,465 KRW 5,581 KRW 63
P/B Multiple 2,846 KRW 3,795 KRW 4,744 KRW 55
Asset-Based
NCAV (Graham) 1,611 KRW 2,159 KRW 3,223 KRW 50
Growth DCF
Growth DCF 1,658 KRW 2,705 KRW 4,394 KRW 72
Rev-Margin DCF 1,297 KRW 2,066 KRW 3,007 KRW 67
Economic Profit
Residual Income 2,607 KRW 2,738 KRW 2,922 KRW 76

Widest divergence: DCF Models (4,627 KRW) versus Earnings-Based (2,051 KRW). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 18.1B KRW
Revenue growth (YoY) +34.7%
Net margin 36.0%
Return on equity 7.7%
Free cash flow 3.6B KRW FY2025
Operating margin 40.4%
More key figures
Dividend yield 7.1%
EPS growth (YoY) +86.8%

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

Quality Score breakdown

Overall quality 58/100

Of which business quality 55 · Market factors (momentum, volatility) 36

Profitability 43
Margins and returns on capital today
Quality Growth 44
Are margins and returns improving?
Cashflow 67
Earnings quality: real cash, not paper profit
Fin. Strength 57
Balance sheet, leverage, solvency risk
Investment 33
Disciplined investing over empire-building
Low Volatility 82
Calm price path (market factor)
Momentum 17
Price trend over the last 3–12 months (market factor)
52W Momentum 15
Distance to the 52-week high (market factor)
Net Issuance 80
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

HB Investment, Inc. is a venture capital and private equity firm specializing in investments in incubation, small and medium sized, early stage venture companies, growth capital and buyout deals.

Full company description

HB Investment, Inc. is a venture capital and private equity firm specializing in investments in incubation, small and medium sized, early stage venture companies, growth capital and buyout deals. The firm considers investments in the telecommunication, information technology, content, electronic components, game software, computer, telecommunications equipment, machinery, equipment, metal and non-metal, distribution, movies, manufacturing, and service sectors; and new growth industries including nanotechnology, biotechnology. HB Investment, Inc., formerly known as Tube Investment Inc., was founded in 1999 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

HB Investment, Inc reported revenue of 17.4B KRW in FY2025 versus 11.4B KRW in FY2021, a compound +11.1%/yr. Reported net income was 6.1B KRW in FY2025, compounding +0.2%/yr from FY2021.

Growth Quality 69/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
17.4B KRW
Latest YoY
+14.8%
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.
+3.0%
Revenue +11.1%/yr
FY21 11.4B KRW
FY22 15.9B KRW
FY23 20.5B KRW
FY24 15.2B KRW
FY25 17.4B KRW
Net income +0.2%/yr
FY21 6.1B KRW
FY22 7.5B KRW
FY23 8.9B KRW
FY24 6.0B KRW
FY25 6.1B KRW

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Cite: Fair Value Calculator (2026). "HB Investment, Inc Fair Value". https://www.fairvalue-calculator.com/stock/440290

Peer Group

Asset Management · 971 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 56 · Below median
Fair Value upside +95% · Top 25%
Return on equity (TTM) 8% · Above median
Return on assets 7% · Above median
Net margin (TTM) 36% · Above median
Operating margin (TTM) 40% · Below median
Revenue growth 35% · Above median
Dividend yield (TTM) 7.1% · Top 25%

Valuation Multiples vs Asset Management 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 100 · sector 37
FUTURE 100 · sector 6
PAST 31 · sector 26
HEALTH 0 · sector 95
DIVIDEND 100 · sector 69

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

Stock Price Fair Value vs Fair Value
Fondul Proprietatea SA FP $0.0420 $0.0800 +90%
BlackRock, Inc BLK $1,136 $465.75 -59%
Blackstone Inc BX $124.56 $16.35 -87%
Investor AB INVEB kr 423.70 kr 847.40 +100%
Brookfield Corporation BN C$62.45 C$10.12 -84%
KKR & Co KKR $100.94 $44.88 -56%
AB Industrivärden INDUA kr 532.50 kr 1,065 +100%
Jio Financial Services Limited JIOFIN ₹242.98 ₹40.19 -83%
Hedef Holding HEDEF 267.25 TRY 320.98 TRY +20%
Bajaj Holdings BAJAJHLDNG ₹10,398 ₹9,202 -12%

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Frequently asked questions

Is HB Investment, Inc (440290) overvalued or undervalued?
As of Jul 21, 2026, our model estimates a fair value of 3,328 KRW versus a price of 1,703 KRW, about +95% (undervalued).
What is the fair value of 440290?
Our model-based fair value for HB Investment, Inc is 3,328 KRW (as of Jul 21, 2026), built from audited fundamentals. The current price is 1,703 KRW.
What is the quality score of 440290?
HB Investment, Inc has a Quality Score of 58/100. 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 HB Investment, Inc (440290)?
HB Investment, Inc reported trailing-twelve-month revenue of about 18.1B KRW (latest available figure, as of Jul 21, 2026).
What is the net profit margin of 440290?
The net profit margin of HB Investment, Inc is about 36.0%, meaning it keeps roughly 36.0% of revenue as net income. Based on the latest reported figures.
Does HB Investment, Inc pay a dividend?
HB Investment, Inc currently shows a dividend yield of about 6.71% relative to its recent price (as of Jul 21, 2026).

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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