Capstone Partners Co., Ltd (452300) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Capstone Partners Co., Ltd KRW 2,121, price KRW 2,455, upside -13.6%, quality 54 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
34‑month range 1,783 KRW – 9,718 KRW · fair‑value band 1,965 KRW – 2,652 KRW · the 2,455 KRW price screens above the 2,121 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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Capstone Partners Co., Ltd. is a venture capital firm specializing in early stage, growth capital companies operating in the information technology, wireless technology, architecture, pharmaceutical, Internet, online game, software, solid state disk, and IP television sectors.
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Capstone Partners Co., Ltd. is a venture capital firm specializing in early stage, growth capital companies operating in the information technology, wireless technology, architecture, pharmaceutical, Internet, online game, software, solid state disk, and IP television sectors. The firm also considers investments in 5G, artificial intelligence, blockchain, big data. It also makes investments in companies that it had invested previously that operate in the information communication technology industry. The firm primarily invests in China and South Korea, with a focus in Seoul and Gyeonggi province. It prefers to exit its investments through a trade sale. Capstone Partners LLC was founded in 2008 and is based in Seoul, South Korea.
Stock analysis
Capstone Partners Co., Ltd (452300) currently trades at 2,455 KRW, while our model-based Fair Value estimate is 2,121 KRW, implying the stock looks roughly 15.7% overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 2,626 KRW per share, and 4 of the 9 models we run sit above the 2,455 KRW price.
Bear case: the Earnings-Based group reads lowest at 1,356 KRW, and 5 of the 9 models stay below the price. Evidence for this calculation is medium.
Scenario range: 1,965 KRW (bear) to 2,652 KRW (bull), the price of 2,455 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 54/100 (solid quality), in the Financial Services sector.
Mixed Growth: Spin-off in 2025: revenue and profit before it include the divested business. Growth is measured afresh from 2025.
Capstone Partners Co., Ltd reported revenue of 7.5B KRW in FY2025 versus 14.4B KRW in FY2021, a compound −15.1%/yr. Reported net income was 2.3B KRW in FY2025, compounding −20.1%/yr from FY2021.
Key figures
Market cap 34.7B KRW (≈ $25.5M) · P/S ratio 4.23 · Dividend yield 1.2% · Net margin 30.8% · Return on equity 7.2% · Return on assets (EBIT) 9.8% · Operating margin 35.1% · Revenue (TTM) 7.4B KRW.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 52% below its 52-week high and 38% 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 −14%, 452300 screens richer than that median.
Fair Value models
Bear 1,965 KRWFair Value 2,121 KRWBull 2,652 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.55/100
Spin-off in 2025: revenue and profit before it include the divested business. Growth is measured afresh from 2025.
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.
−16.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year−17.4%
Dividend (yield on the price)1.2%
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.53% → 31%
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).
+17.9%
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 +15.5% a year for the price.
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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 · 656 stocks
Beats the industry median on 4/9 measures
A mixed picture versus its industry peers.
Valuation
Quality Score53 · Below median
Fair Value upside−14% · Below median
Profitability
Return on equity (TTM)7% · Above median
Return on assets6% · Above median
Net margin (TTM)32% · Above median
Operating margin (TTM)35% · Below median
Growth and dividend
Revenue growth3% · Below median
Dividend yield (TTM)1.2% · Bottom 25%
Valuation Multiplesvs Asset Management median · lower = cheaper
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Is Capstone Partners Co., Ltd (452300) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 2,121 KRW versus a price of 2,455 KRW, about −14% upside (overvalued).
What is the fair value of 452300?
Our model-based fair value for Capstone Partners Co., Ltd is 2,121 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 2,455 KRW.
What is the quality score of 452300?
Capstone Partners Co., Ltd has a Quality Score of 54/100. 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 Capstone Partners Co., Ltd (452300)?
Our model-based price target is the fair value of 2,121 KRW (as of Sep 24, 2026) from 9 valuation models. Cautious scenario 1,965 KRW, optimistic scenario 2,652 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Capstone Partners Co., Ltd stock forecast for 2026?
Our models put fair value at 2,121 KRW, about −14% upside versus a price of 2,455 KRW (overvalued). Cautious scenario 1,965 KRW, optimistic scenario 2,652 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Capstone Partners Co., Ltd (452300)?
Capstone Partners Co., Ltd reported trailing-twelve-month revenue of about 7.4B KRW (latest available figure, as of Sep 24, 2026).
Does Capstone Partners Co., Ltd pay a dividend?
Capstone Partners Co., Ltd currently shows a dividend yield of about 1.18% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Capstone Partners Co., Ltd (452300)?
For today's price to be fair in a discounted-cash-flow model, Capstone Partners Co., Ltd would have to grow free cash flow by +17.9 % 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 -15.1 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 452300 use?
Our models discount Capstone Partners Co., Ltd at 8.9 %: a base by market capitalisation (nano), damped by beta 0.28, 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 Capstone Partners Co., Ltd that is +17.9 % 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 Capstone Partners Co., Ltd (452300) delivered so far?
Over the past 4 years revenue at Capstone Partners Co., Ltd grew -15.1 % a year. The price currently implies +17.9 % 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 Capstone Partners Co., Ltd (452300) growing?
The median revenue growth in the sector is +7.0 % a year. That is the yardstick for the growth priced into Capstone Partners Co., Ltd (+17.9 % 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 Capstone Partners Co., Ltd (452300)?
The free-cash-flow yield on the price is 2.91 %: that much free cash flow Capstone Partners Co., Ltd 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 Capstone Partners Co., Ltd (452300)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Capstone Partners Co., Ltd it is 2,121 KRW per share (as of Sep 24, 2026), against a price of 2,455 KRW. It is the blended result of 9 valuation models (cash flow, earnings, asset, dividend).
Is Capstone Partners Co., Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 452300 trades above its calculated fair value: price 2,455 KRW, fair value 2,121 KRW, a gap of about −14% (overvalued). 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 452300?
No. The price is what the market pays today (2,455 KRW); the fair value is what the company's own numbers justify (2,121 KRW). For Capstone Partners Co., Ltd the two are 333.79 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Capstone Partners Co., Ltd worth?
The market values Capstone Partners Co., Ltd at about 34.7B KRW (market capitalisation, as of Sep 24, 2026). Per share that is 2,455 KRW; our models calculate a fair value of 2,121 KRW per share.
What do the bullish and bearish scenarios say about 452300?
Our models span a range for Capstone Partners Co., Ltd: cautious scenario 1,965 KRW, base 2,121 KRW, optimistic 2,652 KRW per share (as of Sep 24, 2026, price 2,455 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Capstone Partners Co., Ltd (452300)?
Balance-sheet figures for Capstone Partners Co., Ltd (as of Sep 24, 2026): return on equity 7.2%. They feed the Quality Score of 54/100, which measures business quality independently of the share price.
How far is 452300 from its 52-week high?
Capstone Partners Co., Ltd trades at 2,455 KRW, about 52% below its 52-week high of 5,100 KRW and 38% above the low of 1,783 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 2,121 KRW is for.
Which stocks are comparable to Capstone Partners Co., Ltd?
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 Capstone Partners Co., Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price 2,455 KRW, calculated fair value 2,121 KRW (−14%), Quality Score 54/100, from 9 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 452300 calculated?
We run Capstone Partners Co., Ltd through 9 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 2,121 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 14.0 % above its aggregate fair value. Capstone Partners Co., Ltd itself currently trades above fair value. 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 Capstone Partners Co., Ltd (452300)?
The closing price on Sep 23, 2026 was 2,455 KRW. Our model-based fair value is 2,121 KRW, about −14% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Capstone Partners Co., Ltd right now?
Solid but not exceptional quality (54/100) and above fair value, neither a clear bargain nor a standout compounder. 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 Capstone Partners Co., Ltd
How large is the market capitalisation of Capstone Partners Co., Ltd (452300)?
The market capitalisation of Capstone Partners Co., Ltd is 34.7B KRW (≈ $25.5M). 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 Capstone Partners Co., Ltd (452300)?
The price-to-sales ratio of Capstone Partners Co., Ltd is 4.23 (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 Capstone Partners Co., Ltd (452300)?
The dividend yield of Capstone Partners Co., Ltd is 1.2%. 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 Capstone Partners Co., Ltd (452300)?
The net margin of Capstone Partners Co., Ltd is 30.8% (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 Capstone Partners Co., Ltd (452300)?
The return on equity (ROE) of Capstone Partners Co., Ltd is 7.2% (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 Capstone Partners Co., Ltd (452300)?
On an EBIT basis the return on assets of Capstone Partners Co., Ltd is 9.8% (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 Capstone Partners Co., Ltd (452300)?
The operating margin of Capstone Partners Co., Ltd is 35.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Capstone Partners Co., Ltd (452300)?
Revenue at Capstone Partners Co., Ltd is growing +2.8% versus a year earlier (3y avg −15.1%). 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 Capstone Partners Co., Ltd (452300)?
Earnings per share at Capstone Partners Co., Ltd are growing +35.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Capstone Partners Co., Ltd (452300) carry?
The net debt of Capstone Partners Co., Ltd is 282M KRW (fiscal year 2024, ≈ 0.3 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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