HB Investment, Inc (440290) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of HB Investment, Inc KRW 2,902, price KRW 1,716, upside +69.1%, quality 58 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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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.
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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.
Stock analysis
HB Investment, Inc (440290) currently trades at 1,716 KRW, while our model-based Fair Value estimate is 2,902 KRW, implying the stock looks roughly 40.9% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 3,183 KRW per share, and 11 of the 11 models we run sit above the 1,716 KRW price.
Bear case: the Growth DCF group reads lowest at 1,767 KRW, and 0 of the 11 models stay below the price. Evidence for this calculation is medium.
Scenario range: 1,822 KRW (bear) to 4,567 KRW (bull), the price of 1,716 KRW sits below 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 58/100 (solid quality), in the Financial Services sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
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.
Key figures
Market cap 46.5B KRW (≈ $34.2M) · P/S ratio 2.49 · Dividend yield 7.0% · Net margin 35.3% · Return on equity 7.7% · Return on assets (EBIT) 13.2% · Operating margin 40.4% · Revenue (TTM) 18.1B KRW.
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 25% below its 52-week high and 8% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −4% fair-value upside, at 69%, 440290 screens cheaper than that median.
Fair Value models
Bear 1,822 KRWFair Value 2,902 KRWBull 4,567 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.
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.69/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+14.8%
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.
+3.0%
’21
’22
’23
’24
’25
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.
+1.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year−5.7%
Dividend (yield on the price)7.0%
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.68% → 42%
Growth Forecast
Little optimism in the price
The price assumes less 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).
−2.7%
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 −4.7% 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.Asset Management · 657 stocks
Beats the industry median on 8/9 measures
Overall it ranks above its industry peers.
Valuation
Quality Score56 · Below median
Fair Value upside+69% · Above median
Profitability
Return on equity (TTM)8% · Above median
Return on assets7% · Top 25%
Net margin (TTM)36% · Above median
Operating margin (TTM)40% · Above median
Growth and dividend
Revenue growth35% · Top 25%
Dividend yield (TTM)7.0% · Top 25%
Valuation Multiplesvs Asset Management median · lower = cheaper
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Is HB Investment, Inc (440290) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 2,902 KRW versus a price of 1,716 KRW, about +69% upside (undervalued).
What is the fair value of 440290?
Our model-based fair value for HB Investment, Inc is 2,902 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 1,716 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 price target for HB Investment, Inc (440290)?
Our model-based price target is the fair value of 2,902 KRW (as of Sep 24, 2026) from 11 valuation models. Cautious scenario 1,822 KRW, optimistic scenario 4,567 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the HB Investment, Inc stock forecast for 2026?
Our models put fair value at 2,902 KRW, about +69% upside versus a price of 1,716 KRW (undervalued). Cautious scenario 1,822 KRW, optimistic scenario 4,567 KRW. The calculation is refreshed regularly with new filings.
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 Sep 24, 2026).
Does HB Investment, Inc pay a dividend?
HB Investment, Inc currently shows a dividend yield of about 6.99% relative to its recent price (as of Sep 24, 2026).
What growth is priced into HB Investment, Inc (440290)?
For today's price to be fair in a discounted-cash-flow model, HB Investment, Inc would have to grow free cash flow by -2.7 % per year for five years (discount rate 8.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 4 years revenue grew +11.1 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 440290 use?
Our models discount HB Investment, Inc at 8.9 %: a base by market capitalisation (nano), damped by beta 0.36, 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 HB Investment, Inc that is -2.7 % per year a year over ten years, using the same discount rate (8.9 %) and the same formula as our fair value.
How much growth has HB Investment, Inc (440290) delivered so far?
Over the past 4 years revenue at HB Investment, Inc grew +11.1 % a year. The price currently implies -2.7 % per year free-cash-flow growth a 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 HB Investment, Inc (440290) growing?
The median revenue growth in the sector is +10.9 % a year. That is the yardstick for the growth priced into HB Investment, Inc (-2.7 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of HB Investment, Inc (440290)?
The free-cash-flow yield on the price is 7.85 %: that much free cash flow HB Investment, Inc produces per unit of market value. When it exceeds the discount rate of our models (8.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of HB Investment, Inc (440290)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For HB Investment, Inc it is 2,902 KRW per share (as of Sep 24, 2026), against a price of 1,716 KRW. It is the blended result of 11 valuation models (cash flow, earnings, asset, dividend).
Is HB Investment, Inc stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 440290 trades below its calculated fair value: price 1,716 KRW, fair value 2,902 KRW, a gap of about +69% (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 440290?
No. The price is what the market pays today (1,716 KRW); the fair value is what the company's own numbers justify (2,902 KRW). For HB Investment, Inc the two are 1,186 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is HB Investment, Inc worth?
The market values HB Investment, Inc at about 46.5B KRW (market capitalisation, as of Sep 24, 2026). Per share that is 1,716 KRW; our models calculate a fair value of 2,902 KRW per share.
What do the bullish and bearish scenarios say about 440290?
Our models span a range for HB Investment, Inc: cautious scenario 1,822 KRW, base 2,902 KRW, optimistic 4,567 KRW per share (as of Sep 24, 2026, price 1,716 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of HB Investment, Inc (440290)?
Balance-sheet figures for HB Investment, Inc (as of Sep 24, 2026): return on equity 7.7%. They feed the Quality Score of 58/100, which measures business quality independently of the share price.
How far is 440290 from its 52-week high?
HB Investment, Inc trades at 1,716 KRW, about 25% below its 52-week high of 2,302 KRW and 8% above the low of 1,591 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 2,902 KRW is for.
Which stocks are comparable to HB Investment, Inc?
From the same area (Financial Services) we also value Blackstone Inc, Brookfield Corporation, KKR & Co, Apollo Global Management, 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 HB Investment, Inc stock attractive at the current price?
The data as of Sep 24, 2026: price 1,716 KRW, calculated fair value 2,902 KRW (+69%), Quality Score 58/100, from 11 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 440290 calculated?
We run HB Investment, Inc through 11 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 2,902 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. HB Investment, Inc currently trades 69 % 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 HB Investment, Inc (440290)?
The closing price on Sep 23, 2026 was 1,716 KRW. Our model-based fair value is 2,902 KRW, about +69% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with HB Investment, Inc right now?
The price is below even our cautious bear case (1,822 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. A fairly wide model range (1,822 KRW to 4,567 KRW) leaves room in how you read the outcome. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Key figures of HB Investment, Inc
How large is the market capitalisation of HB Investment, Inc (440290)?
The market capitalisation of HB Investment, Inc is 46.5B KRW (≈ $34.2M). 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 HB Investment, Inc (440290)?
The price-to-sales ratio of HB Investment, Inc is 2.49 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the dividend yield of HB Investment, Inc (440290)?
The dividend yield of HB Investment, Inc is 7.0%. 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 HB Investment, Inc (440290)?
The net margin of HB Investment, Inc is 35.3% (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 HB Investment, Inc (440290)?
The return on equity (ROE) of HB Investment, Inc is 7.7% (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 HB Investment, Inc (440290)?
On an EBIT basis the return on assets of HB Investment, Inc is 13.2% (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 HB Investment, Inc (440290)?
The operating margin of HB Investment, Inc is 40.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at HB Investment, Inc (440290)?
Revenue at HB Investment, Inc is growing +34.7% versus a year earlier (3y avg +3.0%). 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 HB Investment, Inc (440290)?
Earnings per share at HB Investment, Inc are growing +86.8% versus a year earlier. How much earnings per share grew versus a year earlier.
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