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SPSoft Inc (443670) Fair Value & Analysis

Technology · KR · Market cap 63.9B KRW

SI SPSoft Inc 443670 · KQ
Price3,255 KRW
Fair Value3,898 KRW
Upside+19.8%
Quality49/100
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Mixed Growth
Thin margins · 7.9% net margin
Low debt · generates free cash flow
Mixed vs. peers (5/9)
Narrow moat 37/100
Evidence: High Range 2,713 KRW – 4,808 KRW Share as image

Fair value as of: Jul 21, 2026

From 24 valuation models · updated 20 days ago

Share price +14.0% over the past month.

Below-average quality, screening 20% undervalued on our models.

What matters now

  • Our model range runs from 2,713 KRW (bear) to 4,808 KRW (bull), base 3,898 KRW. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 49/100 (below-average quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (3 years)

25,950 KRW 2,615 KRW Fair Value 3,898 KRW Feb 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 2,615 KRW – 25,950 KRW · fair‑value band 2,713 KRW – 4,808 KRW · the 3,255 KRW price screens below the 3,898 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 21, 2026.

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Analysis

SPSoft Inc (443670) currently trades at 3,255 KRW, while our model-based Fair Value estimate is 3,898 KRW, implying the stock looks roughly 19.8% undervalued today. The Quality Score stands at 49/100 (below-average quality), in the Technology 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, SPSoft Inc generated revenue of 53.9B KRW at a net margin of 7.9%. Revenue declined 4.4% year over year. It earns a return on equity of 6.5%. Fundamentals as of Jul 21, 2026

Our scenario range runs from 2,713 KRW (bear case) to 4,808 KRW (bull case); at 3,255 KRW, the current price sits within 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 64% below its 52-week high and 1% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -25% fair-value upside, at 20%, 443670 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 1,266 KRW 2,133 KRW 3,886 KRW 80
Rev-Margin DCF 1,658 KRW 3,234 KRW 6,040 KRW 74
ROIC Compounder 1,399 KRW 1,589 KRW 1,755 KRW 72
All 24 models by family
DCF Models
FCF DCF 1,329 KRW 1,944 KRW 3,902 KRW 38
Owner Earnings 2,887 KRW 6,242 KRW 13,284 KRW 31
5Y Revenue Exit 1,658 KRW 2,862 KRW 5,374 KRW 39
5Y EBITDA Exit 2,919 KRW 5,433 KRW 10,340 KRW 41
5Y P/E Exit 3,049 KRW 7,020 KRW 12,494 KRW 38
10Y Revenue Exit 1,521 KRW 3,372 KRW 4,766 KRW 36
10Y EBITDA Exit 2,500 KRW 6,048 KRW 12,813 KRW 37
10Y P/E Exit 2,594 KRW 6,324 KRW 12,995 KRW 35
Earnings-Based
Graham-Dodd 1,080 KRW 7,534 KRW 10,573 KRW 54
Lynch FV 2,717 KRW 3,881 KRW 5,046 KRW 50
PEG = 1.0 2,717 KRW 3,881 KRW 5,046 KRW 46
EPV 1,399 KRW 1,589 KRW 1,755 KRW 59
Multiples
P/E Multiple 3,336 KRW 4,448 KRW 5,561 KRW 63
P/S Multiple 2,026 KRW 2,701 KRW 3,376 KRW 58
P/B Multiple 2,026 KRW 2,701 KRW 3,376 KRW 55
EV/EBIT 2,988 KRW 3,898 KRW 4,808 KRW 53
EV/EBITDA 3,420 KRW 4,474 KRW 5,528 KRW 54
EV/Revenue 1,638 KRW 2,229 KRW 2,821 KRW 43
Asset-Based
NCAV (Graham) 1,410 KRW 1,889 KRW 2,820 KRW 50
Growth DCF
Growth DCF 1,266 KRW 2,133 KRW 3,886 KRW 80
Rev-Margin DCF 1,658 KRW 3,234 KRW 6,040 KRW 74
Economic Profit
Residual Income 2,201 KRW 2,253 KRW 2,238 KRW 61
ROIC Compounder 1,399 KRW 1,589 KRW 1,755 KRW 72
Growth Earnings
Growth-Adj P/E 3,973 KRW 5,676 KRW 7,379 KRW 68

Widest divergence: Growth Earnings (5,676 KRW) versus Economic Profit (1,589 KRW). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 53.9B KRW
Revenue growth (YoY) -4.4%
Net margin 7.9%
Return on equity 6.5%
Free cash flow 1.5B KRW FY2025
Operating margin 6.6%
More key figures
EPS growth (YoY) +52.6%

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

Quality Score breakdown

Overall quality 49/100

Of which business quality 51 · Market factors (momentum, volatility) 17

Profitability 37
Margins and returns on capital today
Quality Growth 81
Are margins and returns improving?
Cashflow 25
Earnings quality: real cash, not paper profit
Fin. Strength 85
Balance sheet, leverage, solvency risk
Investment 31
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 0
Price trend over the last 3–12 months (market factor)
52W Momentum 7
Distance to the 52-week high (market factor)
Net Issuance 43
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

SPSoft Inc. operates as an IT consulting and services company. It offers VDI solution; and DaaS, a cloud computing service that provides virtual desktops on a subscription license basis.

Full company description

SPSoft Inc. operates as an IT consulting and services company. It offers VDI solution; and DaaS, a cloud computing service that provides virtual desktops on a subscription license basis. The company also provides cloud services; catching streaming; GRID CDN that connect numerous user idle resources into a single network; copyright protection; and illegal video monitoring system solutions. SPSoft Inc. company was incorporated in 2013 and is headquartered in Gwacheon-si, South Korea.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

SPSoft Inc reported revenue of 54.5B KRW in FY2025 versus 17.3B KRW in FY2021, a compound +33.3%/yr. Reported net income was 3.8B KRW in FY2025, compounding +18.3%/yr from FY2021.

Growth Quality 76/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
54.5B KRW
Latest YoY
+20.8%
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.
+17.7%
Revenue +33.3%/yr
FY21 17.3B KRW
FY22 33.4B KRW
FY23 35.2B KRW
FY24 45.1B KRW
FY25 54.5B KRW
Net income +18.3%/yr
FY21 1.9B KRW
FY22 4.1B KRW
FY23 4.4B KRW
FY24 302M KRW
FY25 3.8B KRW

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Cite: Fair Value Calculator (2026). "SPSoft Inc Fair Value". https://www.fairvalue-calculator.com/stock/443670

Peer Group

Information Technology Services · 475 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 49 · Below median
Fair Value upside +20% · Above median
Return on equity (TTM) 6% · Below median
Return on assets 3% · Below median
Net margin (TTM) 8% · Above median
Operating margin (TTM) 7% · Above median
Revenue growth -4% · Bottom 25%
Debt / equity 0.01× · Lower than median

Valuation Multiples vs Information Technology Services 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 60 · sector 21
FUTURE 0 · sector 31
PAST 26 · sector 37
HEALTH 100 · sector 97
DIVIDEND 0 · sector 37

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 Information Technology Services stocks, each showing price versus our Fair Value estimate (as of Jul 21, 2026).

Stock Price Fair Value vs Fair Value
International Business Machines Corporation IBM $235.92 $143.90 -39%
Accenture plc ACNN 2,460 MXN 250.95 MXN -90%
Infosys Limited INFY ₹1,156 ₹1,457 +26%
HCL Technologies Limited HCLTECH ₹1,204 ₹1,230 +2%
Wipro Limited WIPRO ₹178.43 ₹226.81 +27%
Tech Mahindra Limited TECHM ₹1,455 ₹1,086 -25%
Samsung SDS Co 018260 199,300 KRW 196,390 KRW -1%
Persistent Systems Limited PERSISTENT ₹5,059 ₹2,364 -53%
Hyundai Autoever Corporation 307950 393,000 KRW 133,088 KRW -66%
Coforge Limited COFORGE ₹1,541 ₹702.84 -54%

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Frequently asked questions

Is SPSoft Inc (443670) overvalued or undervalued?
As of Jul 21, 2026, our model estimates a fair value of 3,898 KRW versus a price of 3,255 KRW, about +20% (undervalued).
What is the fair value of 443670?
Our model-based fair value for SPSoft Inc is 3,898 KRW (as of Jul 21, 2026), built from audited fundamentals. The current price is 3,255 KRW.
What is the quality score of 443670?
SPSoft Inc has a Quality Score of 49/100. 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 SPSoft Inc (443670)?
SPSoft Inc reported trailing-twelve-month revenue of about 53.9B KRW (latest available figure, as of Jul 21, 2026).
What is the net profit margin of 443670?
The net profit margin of SPSoft Inc is about 7.9%, meaning it keeps roughly 7.9% of revenue as net income. 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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