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Kakao Pay Corp (377300) Fair Value & Analysis

Technology · KR · Market cap 5.5T KRW

KP Kakao Pay Corp 377300 · KO
Price44,700 KRW
Fair Value14,643 KRW
Upside-67.2%
Quality60/100
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Healthy Growth
Thin margins · 5.8% net margin
Low debt · generates free cash flow
Ranks above peers (7/9)
Narrow moat 38/100
Evidence: High Range 8,996 KRW – 16,044 KRW Share as image

Fair value as of: Aug 13, 2026

From 24 valuation models · updated today

Fair value updated Aug 13, 2026, revised from 14,839 KRW to 14,643 KRW (−1.3%) since Jul 20, 2026. Share price +17.8% over the past month.

A solid business, but screening 67% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (16,044 KRW). The favourable scenario is already priced in.
  • Solid but not exceptional quality (60/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

238,500 KRW 21,700 KRW Fair Value 14,643 KRW Nov 2021 Aug 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

57‑month range 21,700 KRW – 238,500 KRW · fair‑value band 8,996 KRW – 16,044 KRW · the 44,700 KRW price screens above the 14,643 KRW fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Kakao Pay Corp (377300) currently trades at 44,700 KRW, while our model-based Fair Value estimate is 14,643 KRW, implying the stock looks roughly 67.2% overvalued today. The Quality Score stands at 60/100 (solid quality), in the Technology 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, Kakao Pay Corp generated revenue of 1.0T KRW at a net margin of 5.8%. Revenue grew 41.7% year over year. It earns a return on equity of 3.9%. Fundamentals as of Aug 13, 2026

Our scenario range runs from 8,996 KRW (bear case) to 16,044 KRW (bull case); at 44,700 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 10% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -59% fair-value upside, at -67%, 377300 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.

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
Growth DCF 24,174 KRW 35,512 KRW 59,412 KRW 80
Rev-Margin DCF 18,358 KRW 23,098 KRW 32,183 KRW 74
ROIC Compounder 15,920 KRW 17,735 KRW 19,205 KRW 72
All 24 models by family
DCF Models
FCF DCF 24,914 KRW 32,795 KRW 58,567 KRW 38
Owner Earnings 21,096 KRW 33,254 KRW 59,918 KRW 31
5Y Revenue Exit 18,216 KRW 21,689 KRW 28,873 KRW 39
5Y EBITDA Exit 23,112 KRW 31,593 KRW 48,224 KRW 41
5Y P/E Exit 20,835 KRW 30,600 KRW 43,721 KRW 38
10Y Revenue Exit 20,047 KRW 27,225 KRW 31,026 KRW 36
10Y EBITDA Exit 23,863 KRW 38,016 KRW 62,571 KRW 37
10Y P/E Exit 22,164 KRW 32,999 KRW 50,382 KRW 35
Earnings-Based
Graham-Dodd 2,275 KRW 15,863 KRW 22,261 KRW 54
Lynch FV 6,348 KRW 9,068 KRW 11,789 KRW 50
PEG = 1.0 6,348 KRW 9,068 KRW 11,789 KRW 46
EPV 14,988 KRW 15,507 KRW 15,969 KRW 59
Multiples
P/E Multiple 7,024 KRW 9,366 KRW 11,707 KRW 63
P/S Multiple 4,265 KRW 5,686 KRW 7,108 KRW 58
P/B Multiple 4,265 KRW 5,686 KRW 7,108 KRW 55
EV/EBIT 18,752 KRW 20,988 KRW 23,224 KRW 53
EV/EBITDA 22,014 KRW 25,338 KRW 28,662 KRW 54
EV/Revenue 15,435 KRW 16,888 KRW 18,342 KRW 43
Asset-Based
NCAV (Graham) 7,026 KRW 9,415 KRW 14,052 KRW 50
Growth DCF
Growth DCF 24,174 KRW 35,512 KRW 59,412 KRW 80
Rev-Margin DCF 18,358 KRW 23,098 KRW 32,183 KRW 74
Economic Profit
Residual Income 10,152 KRW 9,769 KRW 8,070 KRW 61
ROIC Compounder 15,920 KRW 17,735 KRW 19,205 KRW 72
Growth Earnings
Growth-Adj P/E 8,996 KRW 12,851 KRW 16,706 KRW 68

Widest divergence: DCF Models (31,593 KRW) versus Earnings-Based (9,068 KRW). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 1.0T KRW
Revenue growth (YoY) +41.7%
Net margin 5.8%
Return on equity 3.9%
Free cash flow 97.5B KRW FY2025
Operating margin 10.7%
More key figures
EPS growth (YoY) +112%

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

Quality Score breakdown

Overall quality 60/100

Of which business quality 60 · Market factors (momentum, volatility) 5

Profitability 22
Margins and returns on capital today
Quality Growth 72
Are margins and returns improving?
Cashflow 70
Earnings quality: real cash, not paper profit
Fin. Strength 66
Balance sheet, leverage, solvency risk
Investment 68
Disciplined investing over empire-building
Low Volatility 0
Calm price path (market factor)
Momentum 4
Price trend over the last 3–12 months (market factor)
52W Momentum 13
Distance to the 52-week high (market factor)
Net Issuance 77
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.

About the company

Kakao Pay Corp. operates a mobile payment system in South Korea. It operates in two segments, Non-financial Services and Financial Services. Its products include, money transfer, payment, membership, PFM, bill payment, investment, loan, insurance, and other recommended products. It serves the internet and smart devices users.

Full company description

Kakao Pay Corp. operates a mobile payment system in South Korea. It operates in two segments, Non-financial Services and Financial Services. Its products include, money transfer, payment, membership, PFM, bill payment, investment, loan, insurance, and other recommended products. It serves the internet and smart devices users. The company was founded in 2017 and is based in Seongnam-si, South Korea.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Kakao Pay Corp reported revenue of 958B KRW in FY2025 versus 459B KRW in FY2021, a compound +20.2%/yr. Reported net income was 45.2B KRW in FY2025.

Growth Quality 90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
958B KRW
Latest YoY
+25.1%
Avg. 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.
+22.5%
Avg. 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.
+27.5%
Avg. growth/yr (6Y) 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.
+37.6%
Revenue +20.2%/yr
FY21 459B KRW
FY22 521B KRW
FY23 615B KRW
FY24 766B KRW
FY25 958B KRW
Net income
FY21 −22.9B KRW
FY22 54.0B KRW
FY23 2.5B KRW
FY24 −13.7B KRW
FY25 45.2B KRW

377300 screens 67% overvalued. Compare with Microsoft Corporation →

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Cite: Fair Value Calculator (2026). "Kakao Pay Corp Fair Value". https://www.fairvalue-calculator.com/stock/377300

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 60 · Above median
Fair Value upside −67% · Bottom 25%
Return on equity (TTM) 4% · Above median
Return on assets 1% · Below median
Net margin (TTM) 6% · Above median
Operating margin (TTM) 11% · Above median
Revenue growth 42% · Top 25%
Debt / equity 0.00× · Lower than median

Valuation Multiples vs Software - Infrastructure median · lower = cheaper

P/FCF 0.0× · Cheaper than 75% of peers

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 · sector 0
FUTURE 100 · sector 48
PAST 16 · sector 14
HEALTH 100 · sector 99
DIVIDEND 0 · sector 28

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

Insider activity: 40/100

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Software - Infrastructure stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Microsoft Corporation MSFT $506.06 $365.74 -28%
Oracle Corporation ORAC C$7.22 C$2.34 -68%
Fortinet, Inc FTNT $160.84 $61.46 -62%
Synopsys, Inc 1SNPS €358.00 €93.61 -74%
Block, Inc XYZ A$111.01 A$70.69 -36%
Range Intelligent Computing Technology Group 300442 ¥67.70 ¥30.89 -54%
Oracle Financial Services Software Limited OFSS ₹11,679 ₹6,897 -41%
360 Security Technology Inc 601360 ¥9.58 ¥1.05 -89%
One97 Communications Limited PAYTM ₹1,610 ₹241.68 -85%
PT GoTo Gojek Tokopedia Tbk GOTO 50.00 IDR 20.41 IDR -59%

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Frequently asked questions

Is Kakao Pay Corp (377300) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 14,643 KRW versus a price of 44,700 KRW, about −67% (overvalued).
What is the fair value of 377300?
Our model-based fair value for Kakao Pay Corp is 14,643 KRW (as of Aug 13, 2026), built from audited fundamentals. The current price is 44,700 KRW.
What is the quality score of 377300?
Kakao Pay Corp has a Quality Score of 60/100. 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 Kakao Pay Corp (377300)?
Kakao Pay Corp reported trailing-twelve-month revenue of about 1.0T KRW (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 377300?
The net profit margin of Kakao Pay Corp is about 5.8%, meaning it keeps roughly 5.8% of revenue as net income. Based on the latest reported figures.

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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