Inswave Systems Co., Ltd. (450520) Fair Value & Analysis
Technology · KR · Market cap 26.5B KRW
Risks
Fair value as of: Aug 13, 2026
From 1 valuation models · updated 11 days ago
Share price +8.3% over the past month.
Below-average quality, and trading another 13% above our fair value.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- A fairly wide model range (1,170 KRW to 2,215 KRW) leaves room in how you read the outcome.
- Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Price vs Fair Value (3 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.
How to read this chart
35‑month range 1,578 KRW – 17,167 KRW · fair‑value band 1,170 KRW – 2,215 KRW · the 2,000 KRW price screens above the 1,772 KRW fair value. Dashed = 300-day average. As of Aug 13, 2026.
Analysis
Inswave Systems Co., Ltd. (450520) currently trades at 2,000 KRW, while our model-based Fair Value estimate is 1,772 KRW, implying the stock looks roughly 11.4% overvalued today. The Quality Score stands at 47/100 (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: low).
Over the trailing twelve months, Inswave Systems Co., Ltd. generated revenue of 43.1B KRW at a net margin of -6.7%. Revenue grew 58.3% year over year. It earns a return on equity of -7.2%. Net debt stands at 828M KRW. Fundamentals as of Aug 13, 2026
Our scenario range runs from 1,170 KRW (bear case) to 2,215 KRW (bull case); at 2,000 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 62% below its 52-week high, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at 80% fair-value upside, at -11%, 450520 screens richer 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.
All 1 models by family
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 51 · Market factors (momentum, volatility) 22
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.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Inswave Co., Ltd. provides standard web UI/UX tool in South Korea. The company offers WebSquare, a standard web UI platform; and ProWorks, an application lifecycle management framework to manage the entire processes of enterprise systems from development to maintenance.
Full company description
Inswave Co., Ltd. provides standard web UI/UX tool in South Korea. The company offers WebSquare, a standard web UI platform; and ProWorks, an application lifecycle management framework to manage the entire processes of enterprise systems from development to maintenance. It also provides application framework, SI/SD/SM, business package, and consulting outsourcing services. The company was formerly known as Inswave Systems Co., Ltd. and changed its name to Inswave Co., Ltd. in March 2025. The company was founded in 2002 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
Inswave Systems Co., Ltd. reported revenue of 39.0B KRW in FY2025 versus 32.6B KRW in FY2021, a compound +4.5%/yr. Reported net income was −3.5B KRW in FY2025.
450520 screens 11% overvalued. Compare with International Business Machines Corporation →
Peer Group
Information Technology Services · 490 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.
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.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Information Technology Services stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| International Business Machines Corporation IBM | $235.98 | $175.76 | -26% |
| Accenture plc ACN | $180.14 | $334.27 | +86% |
| Tata Consultancy Services Limited TCS | ₹2,302 | ₹3,473 | +51% |
| Infosys Limited INFY | ₹1,115 | ₹2,006 | +80% |
| HCL Technologies Limited HCLTECH | ₹1,365 | ₹1,722 | +26% |
| Fiserv, Inc FI | C$5.13 | C$8.07 | +57% |
| Wipro Limited WIT | $1.95 | $3.51 | +80% |
| Fidelity National Information Services, Inc FIS | $41.34 | $19.28 | -53% |
| Cognizant Technology Solutions Corporation CTSH | $58.20 | $132.01 | +127% |
| Capgemini SE CAP | €105.65 | €222.79 | +111% |
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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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