Meritz Financial Group Inc.

KOSE:A138040 Stock Report

Market Cap: ₩19.4t

Meritz Financial Group Valuation

Is A138040 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 A138040 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: A138040 (₩104500) is trading below our estimate of fair value (₩247388.69)

Significantly Below Fair Value: A138040 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for A138040?

Key metric: As A138040 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for A138040. This is calculated by dividing A138040's market cap by their current earnings.
What is A138040's PE Ratio?
PE Ratio8.7x
Earnings₩2.22t
Market Cap₩19.35t

Price to Earnings Ratio vs Peers

How does A138040's PE Ratio compare to its peers?

The above table shows the PE ratio for A138040 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average14.9x
A005940 NH Investment & Securities
7.7x8.6%₩4.6t
A071050 Korea Investment Holdings
4.8x7.9%₩4.2t
A006800 Mirae Asset Securities
32.1x36.4%₩4.4t
2885 Yuanta Financial Holding
15x8.9%NT$432.9b
A138040 Meritz Financial Group
8.7x3.7%₩19.4t

Price-To-Earnings vs Peers: A138040 is good value based on its Price-To-Earnings Ratio (8.7x) compared to the peer average (14.8x).

Price to Earnings Ratio vs Industry

How does A138040's PE Ratio compare vs other companies in the Asian Diversified Financial Industry?

23 CompaniesPrice / EarningsEstimated GrowthMarket Cap
A138040 8.7xIndustry Avg. 19.4xNo. of Companies44PE01632486480+
23 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: A138040 is good value based on its Price-To-Earnings Ratio (8.7x) compared to the Asian Diversified Financial industry average (19.4x).

Price to Earnings Ratio vs Fair Ratio

What is A138040'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.

A138040 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio8.7x
Fair PE Ratio9.4x

Price-To-Earnings vs Fair Ratio: A138040 is good value based on its Price-To-Earnings Ratio (8.7x) compared to the estimated Fair Price-To-Earnings Ratio (9.4x).

Analyst Price Targets

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

The above table shows the analyst A138040 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current₩103,800.00
₩113,000.00
+8.9%
14.7%₩130,000.00₩75,000.00n/a8
Nov ’25₩102,800.00
₩110,000.00
+7.0%
15.9%₩130,000.00₩70,000.00n/a8
Oct ’25₩97,100.00
₩110,000.00
+13.3%
15.9%₩130,000.00₩70,000.00n/a8
Sep ’25₩91,300.00
₩107,000.00
+17.2%
16.0%₩130,000.00₩70,000.00n/a8
Aug ’25₩82,700.00
₩101,250.00
+22.4%
16.1%₩120,000.00₩65,000.00n/a8
Jul ’25₩77,400.00
₩100,000.00
+29.2%
16.0%₩120,000.00₩65,000.00n/a8
Jun ’25₩76,900.00
₩100,000.00
+30.0%
17.1%₩120,000.00₩65,000.00n/a7
May ’25₩79,400.00
₩94,285.71
+18.7%
18.6%₩120,000.00₩65,000.00n/a7
Apr ’25₩82,000.00
₩94,285.71
+15.0%
18.6%₩120,000.00₩65,000.00n/a7
Mar ’25₩83,100.00
₩88,833.33
+6.9%
16.4%₩110,000.00₩65,000.00n/a6
Feb ’25₩70,000.00
₩69,666.67
-0.5%
9.7%₩78,000.00₩58,000.00n/a6
Jan ’25₩59,100.00
₩67,166.67
+13.6%
8.4%₩77,000.00₩58,000.00n/a6
Dec ’24₩55,700.00
₩67,166.67
+20.6%
8.4%₩77,000.00₩58,000.00n/a6
Nov ’24₩51,000.00
₩61,000.00
+19.6%
4.2%₩65,000.00₩58,000.00₩102,800.004
Oct ’24₩55,200.00
₩60,500.00
+9.6%
3.0%₩63,000.00₩58,000.00₩97,100.004
Sep ’24₩54,300.00
₩60,500.00
+11.4%
3.0%₩63,000.00₩58,000.00₩91,300.004
Aug ’24₩49,650.00
₩57,250.00
+15.3%
8.4%₩63,000.00₩52,000.00₩82,700.004

Analyst Forecast: Target price is less than 20% higher than the current share price.

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