NH Investment & Securities Valuation

Q: What is the Fair Price of A005945 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

A005945 (₩11990) is trading below our estimate of [[fair value]] (₩22838.1)

Is A005945 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

Below Fair Value
Significantly Below Fair Value
Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of A005945 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: A005945 (₩11990) is trading below our estimate of fair value (₩22838.1)

Significantly Below Fair Value: A005945 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for A005945?

Key metric: As A005945 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for A005945. This is calculated by dividing A005945's market cap by their current earnings.
What is A005945's PE Ratio?
PE Ratio	7.6x
Earnings	₩611.45b
Market Cap	₩4.60t

A005945 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	n/a
Enterprise Value/EBITDA	n/a
PEG Ratio	0.9x

Price to Earnings Ratio vs Peers

How does A005945's PE Ratio compare to its peers?

The above table shows the PE ratio for A005945 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	41.1x
A071050 Korea Investment Holdings	4.7x	7.9%	₩4.2t
A016360 Samsung SecuritiesLtd	6.3x	8.2%	₩4.1t
A039490 Kiwoom Securities	8.8x	22.6%	₩3.4t
A003540 Daishin SecuritiesLtd	144.5x	n/a	₩1.1t
A005945 NH Investment & Securities	7.6x	8.6%	₩4.6t

Price-To-Earnings vs Peers: A005945 is good value based on its Price-To-Earnings Ratio (7.6x) compared to the peer average (41.1x).

Price to Earnings Ratio vs Industry

How does A005945's PE Ratio compare vs other companies in the KR Capital Markets Industry?

8 Companies	Price / Earnings	Estimated Growth	Market Cap
A071050 Korea Investment Holdings	4.7x	7.9%	US$3.02b
A008560 Meritz Securities	4.2x	n/a	US$2.43b
A023590 Daou Technology	3.6x	n/a	US$559.17m
A041190 Woori Technology Investment	4.6x	n/a	US$535.62m

8 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: A005945 is good value based on its Price-To-Earnings Ratio (7.6x) compared to the KR Capital Markets industry average (9.2x).

Price to Earnings Ratio vs Fair Ratio

What is A005945's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

A005945 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	7.6x
Fair PE Ratio	8.1x

Price-To-Earnings vs Fair Ratio: A005945 is good value based on its Price-To-Earnings Ratio (7.6x) compared to the estimated Fair Price-To-Earnings Ratio (8.1x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.

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