NH SPAC 8 (218410) Fair Value & Analysis
Technology · KR · Market cap 1.2T KRW (≈ $852M) · ISIN KR7218410009
What is NH SPAC 8 really worth?
A solid business, but trading 66% above our fair value of 29,096 KRW.
Strengths
Risks
For context
Fair value as of: Aug 19, 2026
From 26 valuation models · updated 17 days ago
Share price +11.3% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- A high-quality business (quality 70/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
- The price sits above even our optimistic bull case (36,604 KRW). The favourable scenario is already priced in.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 19, 2026.
How to read this chart
60‑month range 10,445 KRW – 112,500 KRW · fair‑value band 20,709 KRW – 36,604 KRW · the 48,300 KRW price screens above the 29,096 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Aug 19, 2026.
Analysis
NH SPAC 8 (218410) currently trades at 48,300 KRW, while our model-based Fair Value estimate is 29,096 KRW, implying the stock looks roughly 66.0% overvalued today. The Quality Score stands at 70/100 (solid quality), in the Technology sector. Bull case: the DCF Models group reads highest at a median of 35,078 KRW per share, and 0 of the 26 models we run sit above the 48,300 KRW price. Bear case: the Asset-Based group reads lowest at 9,692 KRW, and 26 of the 26 models stay below the price. Evidence for this calculation is medium.
Over the trailing twelve months, NH SPAC 8 generated revenue of 107B KRW at a net margin of 4.2%. Revenue grew 53.5% year over year. It earns a return on equity of 245.3%. Net debt stands at 22.0B KRW. Fundamentals as of Aug 19, 2026
Our scenario range runs from 20,709 KRW (bear case) to 36,604 KRW (bull case); at 48,300 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 62% below its 52-week high and 125% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at −56% fair-value upside, at −40%, 218410 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.
All 26 models by family
Widest divergence: DCF Models (35,078 KRW) versus Dividend Discount (1,865 KRW). Highest evidence: FCF DCF (77).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 19, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 68 · Market factors (momentum, volatility) 48
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
RFHIC Corporation designs and manufactures radio frequency (RF) and microwave components for wireless infrastructure, commercial and military radar, and industrial/scientific/medical industries in South Korea and internationally.
Full company description
RFHIC Corporation designs and manufactures radio frequency (RF) and microwave components for wireless infrastructure, commercial and military radar, and industrial/scientific/medical industries in South Korea and internationally. The company's products include RF power transistors comprising gallium nitride (GaN) on SiC transistors; GaN and GaAs MMICs, and active dividers; power amplifiers, such as hybrid, pallet, wideband, module, and low noise amplifiers, as well as GaN T/R modules; and sub-systems, including RF/microwave generators, RF transmitters, and high-power combiners. It offers its products for telecommunications application, such as 4G LTE, 5G, Wi-Fi, point-to-point radio, and SatCom; RF energy applications, including microwave heating and drying, particle accelerators, plasma lighting, semiconductor equipment, waste gasification, carbon fiber and composite materials, microwave assisted X-ray laser, microwave tumor ablation, and bio and health sciences; and defense applications comprising radar, milcom, electronic warfare, and SatCom/VSAT. The company was founded in 1999 and is headquartered in Anyang-si, South Korea.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
NH SPAC 8 reported revenue of 186B KRW in FY2025 versus 102B KRW in FY2021, a compound +16.3%/yr. Reported net income was 28.7B KRW in FY2025, compounding +47.7%/yr from FY2021.
218410 screens 66% overvalued. Compare with TES Co →
Peer Group
Semiconductors & Semiconductor Equipment · 48 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.
Valuation Multiples vs Semiconductors & Semiconductor Equipment median · lower = cheaper
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.
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.
Similar stocks
10 more Semiconductors & Semiconductor Equipment stocks, each showing price versus our Fair Value estimate (as of Aug 19, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| TES Co 095610 | 144,000 KRW | 57,543 KRW | −60% |
| Eugene Technology Co 084370 | 128,500 KRW | 47,495 KRW | −63% |
| TSE Co 131290 | 256,000 KRW | 83,925 KRW | −67% |
| ISC Co 095340 | 159,800 KRW | 61,198 KRW | −62% |
| PSK HOLDINGS Inc 031980 | 112,200 KRW | 74,962 KRW | −33% |
| Jeju Semiconductor Corp 080220 | 76,100 KRW | 23,830 KRW | −69% |
| Tokai Carbon Korea Co 064760 | 225,500 KRW | 154,525 KRW | −31% |
| HANA Micron Inc 067310 | 36,650 KRW | 16,102 KRW | −56% |
| S&S Tech Corporation 101490 | 43,250 KRW | 60,781 KRW | +41% |
| Global Standard Technology, Limited 083450 | 50,500 KRW | 59,982 KRW | +19% |
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