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Mirae Asset Daewoo Securities Co Ltd (006800) Fair Value & Analysis

Financial Services · KR · Market cap 24.6T KRW (≈ $17.2B) · ISIN KR7006800007

What is Mirae Asset Daewoo Securities Co Ltd really worth?

MA Mirae Asset Daewoo Securities Co Ltd 006800 · KO
Price34,450 KRW
Fair Value15,308 KRW
Upside−55.6%
Quality41/100

Below-average quality, and trading another 125% above our fair value of 15,308 KRW.

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Risks

!Mixed Growth (revenue 5y +8.5 %/yr)
!Thin margins · 8.0% net margin
!Moderate debt · negative free cash flow
!Mixed vs. peers (4/9)
!Moderate moat 59/100
!Evidence only low, so the estimate is less certain
!Weak on dividend: 17 out of 100

For context

·0.87% dividend yield
Evidence: Low Range 11,481 KRW – 19,135 KRW

Fair value as of: Aug 13, 2026

From 2 valuation models · updated 22 days ago

Share price +3.6% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits above even our optimistic bull case (19,135 KRW). The favourable scenario is already priced in.
  • Weak quality (41/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
  • 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)

83,800 KRW 5,527 KRW Fair Value 15,308 KRW Apr 2021 Sep 2026

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 5,527 KRW – 83,800 KRW · fair‑value band 11,481 KRW – 19,135 KRW · the 34,450 KRW price screens above the 15,308 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.

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Analysis

Mirae Asset Daewoo Securities Co Ltd (006800) currently trades at 34,450 KRW, while our model-based Fair Value estimate is 15,308 KRW, implying the stock looks roughly 125.1% overvalued today. The Quality Score stands at 41/100 (below-average quality), in the Financial Services sector. How firm this estimate is: it rests on 16 models at a data quality of 95/100, which puts the evidence level at low.

Revenue grew 79.3% year over year. It earns a return on equity of 12.3%. Net debt stands at 19.0T KRW. Fundamentals as of Aug 13, 2026

Our scenario range runs from 11,481 KRW (bear case) to 19,135 KRW (bull case); at 34,450 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 61% below its 52-week high and 102% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at −37% fair-value upside, at −56%, 006800 screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

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
P/B Multiple 14,410 KRW 19,213 KRW 24,016 KRW 53
NCAV (Graham) 11,302 KRW 15,144 KRW 22,603 KRW 52
All 2 models by family
Multiples
P/B Multiple 14,410 KRW 19,213 KRW 24,016 KRW 53
Asset-Based
NCAV (Graham) 11,302 KRW 15,144 KRW 22,603 KRW 52

Widest divergence: Multiples (19,213 KRW) versus Asset-Based (15,144 KRW). Highest evidence: P/B Multiple (53).

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Key figures & financial health

P/S ratio 1.14 TTM
Dividend yield 0.9%
Net margin 7.4% TTM
Return on equity 17.4% TTM
Return on assets (EBIT) 3.3% avg 5y
Operating margin 33.0% TTM
More key figures
Growth
Revenue growth (YoY) +185% 3y avg −1.4%
EPS growth (YoY) +197%
Balance sheet & cash flow
Free cash flow −10.3T KRW FY2024
Net debt 19.0T KRW FY2024

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 41/100

Of which business quality 44 · Market factors (momentum, volatility) 36

Profitability 37
Margins and returns on capital today
Quality Growth 52
Are margins and returns improving?
Cashflow 33
Earnings quality: real cash, not paper profit
Fin. Strength 40
Balance sheet, leverage, solvency risk
Investment 64
Disciplined investing over empire-building
Low Volatility 16
Calm price path (market factor)
Momentum 33
Price trend over the last 3–12 months (market factor)
52W Momentum 62
Distance to the 52-week high (market factor)
Net Issuance 49
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.

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

Mirae Asset Securities Co., Ltd. engages in the provision of various financial services in South Korea and internationally. It operates through Wealth Management, Investment Banking, Sales and Trading, and Principal Investment and Others segments.

Full company description

Mirae Asset Securities Co., Ltd. engages in the provision of various financial services in South Korea and internationally. It operates through Wealth Management, Investment Banking, Sales and Trading, and Principal Investment and Others segments. The company provides diverse financial solutions, such as Initial Public Offerings (IPO), Pre-IPO, mezzanine financing, rights offerings, corporate bonds, acquisition financing, asset securitization, and real estate project financing (PF); investment finance solutions related to aircrafts, ships, power generation, and infrastructures; as well as investment products, including stocks, bonds, exchange-traded and over-the-counter derivatives, foreign exchange, credit, and carbon emissions trading. It also offers custody and brokerage services; public offering funds, stocks, ETFs, ELS/DLS, wrap accounts, trusts, and other financial products; and AI-based financial services, comprehensive consulting services, and pension solutions. The company was formerly known as Mirae Asset Daewoo Co., Ltd. and changed its name to Mirae Asset Securities Co. Ltd. in March 2021. Mirae Asset Securities Co., Ltd. was incorporated in 1970 and is headquartered in Seoul, South Korea.

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

Revenue & earnings trend

FY2020 – FY2025 · reported fiscal years

Mirae Asset Daewoo Securities Co Ltd reported revenue of 3.1T KRW in FY2024 versus 2.6T KRW in FY2020, a compound +4.9%/yr. Reported net income was 1.6T KRW in FY2025, compounding +8.0%/yr from FY2021.

Growth Quality 42/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2024)
3.1T KRW
Latest YoY
+43.8%
Avg. revenue 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.
−1.4%
Avg. revenue growth/yr (5Y) 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.
+8.5%
Avg. revenue growth/yr (25Y) 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.
+13.5%
Value creation/yr (5Y, in KRW) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year. 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.
+11.1% (10.2 + 0.9)
Revenue +4.9%/yr
FY20 2.6T KRW
FY21 3.3T KRW
FY22 2.5T KRW
FY23 2.2T KRW
FY24 3.1T KRW
Net income +8.0%/yr
FY21 1.2T KRW
FY22 639B KRW
FY23 322B KRW
FY24 922B KRW
FY25 1.6T KRW

006800 screens 125% overvalued. Compare with Morgan Stanley, a financial holding company, →

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Cite: Fair Value Calculator (2026). "Mirae Asset Daewoo Securities Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/006800

Peer Group

Capital Markets · 453 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 47 · Below median
Fair Value upside −56% · Bottom 25%
Return on equity (TTM) 17% · Top 25%
Return on assets 2% · Above median
Net margin (TTM) 8% · Below median
Operating margin (TTM) 36% · Above median
Revenue growth 185% · Top 25%
Dividend yield (TTM) 0.9% · Below median
Debt / equity 0.91× · Higher than 75% of peers

Strength profile in five axes (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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 10
FUTURE100 · sector 91
PAST70 · sector 30
HEALTH54 · sector 94
DIVIDEND17 · sector 38

VALUE 0: the price sits above our fair-value range.

Insider activity: 45/100

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

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
Morgan Stanley, a financial holding company, MS $214.77 $138.97 −35%
The Goldman Sachs Group GS $1,034 $756.89 −27%
The Charles Schwab Corporation SCHW $110.16 $66.17 −40%
Robinhood Markets, Inc HOOD $104.26 $30.94 −70%
Macquarie Group MQG A$251.87 A$75.58 −70%
CITIC Securities Company 600030 ¥27.93 ¥17.68 −37%
Guotai Haitong Securities Co 601211 ¥17.87 ¥18.62 +4%
East Money Information Co 300059 ¥19.42 ¥4.77 −75%
CSC Financial Co 601066 ¥25.78 ¥14.17 −45%
Huatai Securities Co 601688 ¥19.56 ¥19.26 −2%

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Frequently asked questions

Is Mirae Asset Daewoo Securities Co Ltd (006800) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 15,308 KRW versus a price of 34,450 KRW, about −56% upside (overvalued).
What is the fair value of 006800?
Our model-based fair value for Mirae Asset Daewoo Securities Co Ltd is 15,308 KRW (as of Aug 13, 2026), built from audited fundamentals. The current price: 34,450 KRW.
What is the quality score of 006800?
Mirae Asset Daewoo Securities Co Ltd has a Quality Score of 41/100. 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 net profit margin of 006800?
The net profit margin of Mirae Asset Daewoo Securities Co Ltd is about 7.4%, meaning it keeps roughly 7.4% of revenue as net income. Based on the latest reported figures.
Does Mirae Asset Daewoo Securities Co Ltd pay a dividend?
Mirae Asset Daewoo Securities Co Ltd currently shows a dividend yield of about 0.87% relative to its recent price (as of Aug 13, 2026).
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