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AhnLab Inc (053800) Fair Value & Analysis

Technology · KR · Market cap 471B KRW (≈ $330M) · ISIN KR7053800009

What is AhnLab Inc really worth?

AI AhnLab Inc 053800 · KQ
Price57,700 KRW
Fair Value98,803 KRW
Upside+71.2%
Quality72/100

A solid business, trading 42% below our fair value of 98,803 KRW.

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Strengths

Highly profitable · 20.8% net margin
Low debt · generates free cash flow
Ranks above peers (8/10)

Risks

!Mixed Growth (revenue 5y +8.5 %/yr)
!Moderate moat 61/100
!Evidence only medium, so the estimate is less certain
!Weak on future: 17 out of 100

For context

·2.43% dividend yield
Evidence: Medium Range 74,108 KRW – 144,192 KRW

Fair value as of: Sep 3, 2026

From 24 valuation models · updated 2 days ago

Share price +6.3% over the past month.

What runs behind every stock

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

What matters now

  • The rarer combination: high quality (72/100) AND below fair value. That earns a closer look rather than a quick verdict.
  • The price is below even our cautious bear case (74,108 KRW). The market is more pessimistic than our downside scenario.
  • A fairly wide model range (74,108 KRW to 144,192 KRW) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

163,003 KRW 48,997 KRW Fair Value 98,803 KRW Apr 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 3, 2026.

How to read this chart

60‑month range 48,997 KRW – 163,003 KRW · fair‑value band 74,108 KRW – 144,192 KRW · the 57,700 KRW price screens below the 98,803 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 3, 2026.

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Analysis

AhnLab Inc (053800) currently trades at 57,700 KRW, while our model-based Fair Value estimate is 98,803 KRW, implying the stock looks roughly 41.6% undervalued today. The Quality Score stands at 72/100 (solid quality), in the Technology sector. Bull case: the Growth Earnings group reads highest at a median of 146,005 KRW per share, and 17 of the 24 models we run sit above the 57,700 KRW price. Bear case: the Asset-Based group reads lowest at 27,842 KRW, and 7 of the 24 models stay below the price. Evidence for this calculation is medium.

Over the trailing twelve months, AhnLab Inc generated revenue of 270B KRW at a net margin of 20.8%. Revenue grew 3.3% year over year. It earns a return on equity of 14.5%. Fundamentals as of Sep 3, 2026

Our scenario range runs from 74,108 KRW (bear case) to 144,192 KRW (bull case); at 57,700 KRW, the current price sits below 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 23% below its 52-week high and 5% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at −32% fair-value upside, at 71%, 053800 screens cheaper 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
FCF DCF 85,259 KRW 131,734 KRW 206,284 KRW 79
Growth DCF 86,882 KRW 128,314 KRW 190,802 KRW 78
Owner Earnings 84,826 KRW 131,042 KRW 205,178 KRW 75
All 24 models by family
DCF Models
FCF DCF 85,259 KRW 131,734 KRW 206,284 KRW 79
Owner Earnings 84,826 KRW 131,042 KRW 205,178 KRW 75
5Y Revenue Exit 54,902 KRW 76,745 KRW 103,787 KRW 73
5Y EBITDA Exit 71,711 KRW 108,229 KRW 150,384 KRW 75
5Y P/E Exit 108,755 KRW 177,617 KRW 250,054 KRW 70
10Y Revenue Exit 63,702 KRW 86,455 KRW 115,684 KRW 67
10Y EBITDA Exit 75,743 KRW 108,835 KRW 152,119 KRW 69
10Y P/E Exit 99,909 KRW 158,159 KRW 230,056 KRW 63
Earnings-Based
Graham-Dodd 41,058 KRW 128,349 KRW 170,774 KRW 64
Lynch FV 27,980 KRW 39,972 KRW 51,963 KRW 61
PEG = 1.0 27,980 KRW 39,972 KRW 51,963 KRW 57
EPV 35,294 KRW 40,205 KRW 44,570 KRW 74
Multiples
P/E Multiple 126,798 KRW 169,064 KRW 211,330 KRW 63
P/S Multiple 76,985 KRW 102,646 KRW 128,308 KRW 58
P/B Multiple 76,985 KRW 102,646 KRW 128,308 KRW 55
EV/EBIT 74,108 KRW 96,321 KRW 118,534 KRW 66
EV/EBITDA 71,874 KRW 93,343 KRW 114,812 KRW 67
EV/Revenue 41,158 KRW 55,597 KRW 70,035 KRW 54
Asset-Based
NCAV (Graham) 20,778 KRW 27,842 KRW 41,556 KRW 54
Growth DCF
Growth DCF 86,882 KRW 128,314 KRW 190,802 KRW 78
Rev-Margin DCF 54,902 KRW 77,532 KRW 103,890 KRW 73
Economic Profit
Residual Income 41,936 KRW 54,926 KRW 150,387 KRW 67
ROIC Compounder 35,294 KRW 40,205 KRW 48,236 KRW 72
Growth Earnings
Growth-Adj P/E 102,204 KRW 146,005 KRW 189,807 KRW 67

Widest divergence: Growth Earnings (146,005 KRW) versus Asset-Based (27,842 KRW). Highest evidence: FCF DCF (79).

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Key figures & financial health

P/S ratio 2.04 TTM
Dividend yield 2.4%
Net margin 20.3% FY2025
Return on equity 14.5% TTM
Return on assets (EBIT) 6.7% avg 5y
Operating margin 3.3% TTM
More key figures
Growth
Revenue (TTM) 270B KRW TTM
Revenue growth (YoY) +3.3% 3y avg +5.5%
EPS growth (YoY) +57.5%
Balance sheet & cash flow
Free cash flow 58.3B KRW FY2025

Figures from reported company fundamentals · as of Sep 3, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 72/100

Of which business quality 73 · Market factors (momentum, volatility) 41

Profitability 69
Margins and returns on capital today
Quality Growth 65
Are margins and returns improving?
Cashflow 78
Earnings quality: real cash, not paper profit
Fin. Strength 89
Balance sheet, leverage, solvency risk
Investment 57
Disciplined investing over empire-building
Low Volatility 70
Calm price path (market factor)
Momentum 29
Price trend over the last 3–12 months (market factor)
52W Momentum 28
Distance to the 52-week high (market factor)
Net Issuance 67
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

AhnLab, Inc. provides information security solutions and services for consumers, enterprises, and small and medium businesses worldwide.

Full company description

AhnLab, Inc. provides information security solutions and services for consumers, enterprises, and small and medium businesses worldwide. It offers AhnLab XDR, a cloud-based and SaaS-delivered platform that collects and analyzes logs from various systems and helps customers to manage cyber risks; AhnLab MDS, an advanced persistent threat protection solution; and AhnLab CPP, a cloud workload protection platform. It also provides AhnLab EPP, an endpoint protection platform for optimized interoperation and integrated management of various security functions; AhnLab EDR, an endpoint detection and response solution that monitors endpoints for threat detection, analysis, and response; V3 Endpoint Security, an endpoint security solution; and V3Net for Windows Server, an integrated security solution to protect computer and personal information by detecting and repairing malicious security threats, as well as blocking hack attacks. In addition, the company offers V3 Mobile Security, a mobile solution for anti-malware, anti-theft, and privacy protection; AhnLab EPS, a control and management tool to protect critical infrastructures from malicious threats; AhnLab Xcanner, a manual and scan-based malware detection and remediation program that detects and deletes malware in fixed function systems; and AhnLab TS Engine Suite, an integrative engine that offers response to a range of security threats. Further, it provides network security solutions, such as AhnLab TrusGuard DPX, a protection solution for anti- distributed denial of service (DDoS); AhnLab TrusGuard, a solution that integrates firewall, IPS, VPN, anti-virus, anti-spam security, and DLP to protect the business environment; AhnLab AIPS, an advanced network intrusion prevention solution; and AhnLab TMS, a network threat management platform. Additionally, the company offers managed security, IT security consulting, and forensic services. AhnLab, Inc. was founded in 1995 and is headquartered in Seongnam-si, South Korea.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

AhnLab Inc reported revenue of 268B KRW in FY2025 versus 207B KRW in FY2021, a compound +6.6%/yr. Reported net income was 54.3B KRW in FY2025, compounding +6.5%/yr from FY2021.

Growth Quality 79/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
268B KRW
Latest YoY
+2.7%
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.
+5.5%
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 (22Y) 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.
+9.7%
Value creation/yr (5Y, in KRW) Earnings growth per share (CAGR 5 years, EBIT basis) 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.
+11.2% (8.8 + 2.4)
Revenue +6.6%/yr
FY21 207B KRW
FY22 228B KRW
FY23 239B KRW
FY24 261B KRW
FY25 268B KRW
Net income +6.5%/yr
FY21 42.2B KRW
FY22 14.2B KRW
FY23 35.8B KRW
FY24 33.7B KRW
FY25 54.3B KRW

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Cite: Fair Value Calculator (2026). "AhnLab Inc Fair Value". https://www.fairvalue-calculator.com/stock/053800

Peer Group

Software - Infrastructure · 369 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 72 · Top 25%
Fair Value upside +71% · Top 25%
Return on equity (TTM) 15% · Above median
Return on assets 4% · Above median
Net margin (TTM) 21% · Top 25%
Operating margin (TTM) 3% · Below median
Revenue growth 3% · Below median
Dividend yield (TTM) 2.4% · Above median

Valuation Multiples vs Software - Infrastructure median · lower = cheaper

P/FCF 0.0× · Cheaper 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
VALUE100 · sector 0
FUTURE17 · sector 50
PAST58 · sector 15
HEALTH100 · sector 98
DIVIDEND49 · sector 26

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 Software - Infrastructure stocks, each showing price versus our Fair Value estimate (as of Sep 3, 2026).

Stock Price Fair Value vs Fair Value
Microsoft Corporation MSFT $480.35 $365.74 −24%
Oracle Corporation ORCL $151.94 $117.84 −22%
Fortinet, Inc FTNT $166.00 $61.46 −63%
Synopsys, Inc SNPS $442.61 $101.19 −77%
Block, Inc XYZ A$111.01 A$70.69 −36%
CoreWeave, Inc CRWV $105.26 $71.79 −32%
NetApp, Inc NTAP $190.64 $154.83 −19%
Adyen N.V ADYEN €1,007 €707.53 −30%
MongoDB, Inc MDB $440.58 $93.91 −79%
Okta, Inc OKTA $166.23 $30.50 −82%

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Frequently asked questions

Is AhnLab Inc (053800) overvalued or undervalued?
As of Sep 3, 2026, our model estimates a fair value of 98,803 KRW versus a price of 57,700 KRW, about +71% upside (undervalued).
What is the fair value of 053800?
Our model-based fair value for AhnLab Inc is 98,803 KRW (as of Sep 3, 2026), built from audited fundamentals. The current price: 57,700 KRW.
What is the quality score of 053800?
AhnLab Inc has a Quality Score of 72/100. 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 AhnLab Inc (053800)?
AhnLab Inc reported trailing-twelve-month revenue of about 270B KRW (latest available figure, as of Sep 3, 2026).
What is the net profit margin of 053800?
The net profit margin of AhnLab Inc is about 20.8%, meaning it keeps roughly 20.8% of revenue as net income. Based on the latest reported figures.
Does AhnLab Inc pay a dividend?
AhnLab Inc currently shows a dividend yield of about 2.43% relative to its recent price (as of Sep 3, 2026).
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