NH Investment & Securities Co (005940) Fair Value & Analysis
Financial Services · KR · Market cap 11.6T KRW
Fair value as of: Aug 13, 2026
From 2 valuation models · updated yesterday
Share price −7.6% over the past month.
Below-average quality, and screening another 34% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (23,796 KRW). The favourable scenario is already priced in.
- Weak quality (32/100) and above fair value at the same time, the margin of safety is missing on both counts.
- For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Price vs Fair Value (5 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
60‑month range 6,843 KRW – 38,450 KRW · fair‑value band 14,278 KRW – 23,796 KRW · the 28,750 KRW price screens above the 19,037 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.
Analysis
NH Investment & Securities Co (005940) currently trades at 28,750 KRW, while our model-based Fair Value estimate is 19,037 KRW, implying the stock looks roughly 33.8% overvalued today. The Quality Score stands at 32/100 (below-average quality), in the Financial Services 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: high).
Over the trailing twelve months, NH Investment & Securities Co generated revenue of 17.6T KRW at a net margin of 7.4%. Revenue grew 184.9% year over year. It earns a return on equity of 11.8%. Net debt stands at 9.4T KRW. Fundamentals as of Aug 13, 2026
Our scenario range runs from 14,278 KRW (bear case) to 23,796 KRW (bull case); at 28,750 KRW, the current price sits above 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 30% below its 52-week high and 68% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at -28% fair-value upside, at -34%, 005940 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 2 models by family
Widest divergence: Multiples (22,545 KRW) versus Asset-Based (17,771 KRW). Highest evidence: P/B Multiple (55).
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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 37 · Market factors (momentum, volatility) 53
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
NH Investment & Securities Co., Ltd. engages in the investment management in South Korea and internationally. It operates through, Sales, Investment Banking, and Trading segments.
Full company description
NH Investment & Securities Co., Ltd. engages in the investment management in South Korea and internationally. It operates through, Sales, Investment Banking, and Trading segments. The company offers wealth management solutions to retail high-net-worth clients; service planning, UI/UX enhancement, and content development; corporate financing solutions, including corporate advisory, acquisition financing, and capital raising in the direct financing market; equities and mezzanine instruments through proprietary accounts; passive investment solutions; and PBS contracts, entrusted sales, credit extension, swap transactions, and securities lending and borrowing brokerage. It is also involved in bond trading and brokerage businesses; derivative-linked securities and over-the-counter derivatives businesses; and discretionary portfolio management. The company was formerly known as Woori Investment & Securities Co., Ltd. and changed its name to NH Investment & Securities Co., Ltd. in December 2014. The company was incorporated in 1969 and is based in Seoul, South Korea. NH Investment & Securities Co., Ltd. is a subsidiary of NongHyup Financial Group Inc.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
NH Investment & Securities Co reported revenue of 2.7T KRW in FY2025 versus 2.5T KRW in FY2021, a compound +2.2%/yr. Reported net income was 1.0T KRW in FY2025, compounding +2.6%/yr from FY2021.
005940 screens 34% overvalued. Compare with Mirae Asset Securities Co →
Peer Group
Capital Markets · 425 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.
VALUE 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Capital Markets stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Mirae Asset Securities Co 006800 | 38,050 KRW | 18,009 KRW | -53% |
| Meritz Financial Group 138040 | 118,600 KRW | 52,717 KRW | -56% |
| Korea Investment Holdings 071050 | 200,500 KRW | 189,335 KRW | -6% |
| Samsung Securities Co 016360 | 93,100 KRW | 75,573 KRW | -19% |
| Motilal Oswal Financial Services Limited MOTILALOFS | ₹901.00 | ₹403.57 | -55% |
| Kiwoom Securities Co 039490 | 299,000 KRW | 214,812 KRW | -28% |
| SSI Securities Corporation SSI | 25,300 VND | 17,375 VND | -31% |
| Bolsas y Mercados Argentinos S.A BYMA | 313.75 ARS | 294.30 ARS | -6% |
| Daishin Securities Co 003540 | 26,950 KRW | 48,790 KRW | +81% |
| SK Securities Co 001515 | 4,285 KRW | 1,395 KRW | -67% |
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Frequently asked questions
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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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