Mirae Asset Securities Valuation

Is A006805 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

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 A006805 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: A006805 (₩4520) is trading below our estimate of fair value (₩7798.36)

Significantly Below Fair Value: A006805 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for A006805?

Key metric: As A006805 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for A006805. This is calculated by dividing A006805's market cap by their current earnings.
What is A006805's PE Ratio?
PE Ratio	31.3x
Earnings	₩160.16b
Market Cap	₩4.39t

A006805 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 A006805's PE Ratio compare to its peers?

The above table shows the PE ratio for A006805 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	7x
A016360 Samsung SecuritiesLtd	6.5x	8.6%	₩4.2t
A005940 NH Investment & Securities	7.6x	8.5%	₩4.6t
A071050 Korea Investment Holdings	4.8x	7.9%	₩4.3t
A039490 Kiwoom Securities	9x	22.6%	₩3.5t
A006805 Mirae Asset Securities	31.3x	36.4%	₩4.4t

Price-To-Earnings vs Peers: A006805 is expensive based on its Price-To-Earnings Ratio (31.3x) compared to the peer average (7x).

Price to Earnings Ratio vs Industry

How does A006805's PE Ratio compare vs other companies in the KR Capital Markets Industry?

7 Companies	Price / Earnings	Estimated Growth	Market Cap
A071050 Korea Investment Holdings	4.8x	7.9%	US$3.05b
A008560 Meritz Securities	4.2x	n/a	US$2.43b
A023590 Daou Technology	3.7x	n/a	US$570.03m
A041190 Woori Technology Investment	4.2x	n/a	US$484.52m

7 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: A006805 is expensive based on its Price-To-Earnings Ratio (31.3x) compared to the KR Capital Markets industry average (9.3x).

Price to Earnings Ratio vs Fair Ratio

What is A006805'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.

A006805 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	31.3x
Fair PE Ratio	12.9x

Price-To-Earnings vs Fair Ratio: A006805 is expensive based on its Price-To-Earnings Ratio (31.3x) compared to the estimated Fair Price-To-Earnings Ratio (12.9x).

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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