KONEX · 0077H0 · Retail & Trade · ₩0077H0

Mobicontents Tech모비콘텐츠테크

0077H0 · KONEX · ₩0077H0 · 모비콘텐츠테크

₩60,000 ₩0 (0.00%)End-of-day · Oct 28, 2026 · End-of-day prices.

Trade

Sell Buy

Valuation model · Discounted cash flow (DCF)

We use a 5-year discounted cash flow: the value of the cash the business is expected to produce, in today's money.

Fair value per share

₩8,584

vs the current price (₩60,000)

Enterprise value: ₩2B
Equity value: ₩5.2B
WACC: 9.6%

Model estimate based on the assumptions shown. Not a price target and not a buy or sell signal. This is not financial advice.

Why the model and the price differ

The model is 86% away from today's price. A gap this size usually means the market expects something the past figures don't show yet, or the model leaves something out. What we can see:

To match today's price of ₩60,000, the model needs an operating margin of 12.0% every year (it uses 1.4%).
In the projection, spending on equipment, software and working capital takes most or all of the after-tax operating profit, so free cash flow is thin. Companies that invest heavily often look like this until spending slows.

Treat the model as a starting point: change the assumptions to the story you believe, and compare with the multiples check below.

Bear / Base / Bull

Bear: ₩190; −99.7%
Base: ₩8,584; −85.7%
Bull: ₩22,509; −62.5%

Bear: revenue growth 3 points lower every year, EBIT margin 2 points lower, WACC 1 point higher. Bull: the opposite.

Assumptions

Cycle options

Margin path

Every year uses the cycle-average margin (1.4%).

Revenue growth

Revenue growth, year 13%
How much sales grow that year, compared with the year before.
Default: not enough revenue history, so 3%.
Revenue growth, year 23%
How much sales grow that year, compared with the year before.
Default: not enough revenue history, so 3%.
Revenue growth, year 33%
How much sales grow that year, compared with the year before.
Default: not enough revenue history, so 3%.
Revenue growth, year 43%
How much sales grow that year, compared with the year before.
Default: not enough revenue history, so 3%.
Revenue growth, year 53%
How much sales grow that year, compared with the year before.
Default: not enough revenue history, so 3%.

Business

EBIT margin1.4%
Operating profit as a share of revenue.
Default: through-the-cycle average of the last 12 months and the last 1 annual reports' operating margins.
Tax rate27.5%
Share of operating profit paid as corporate tax.
Default: Korea's top corporate tax rate (25%) plus 10% local income tax.
Depreciation & amortisation3%
The non-cash cost of wearing out equipment, added back to cash flow (% of revenue).
Default: not in the statements, so a typical level.
Capital spending4%
Money spent on factories, equipment, software and other long-term assets (% of revenue).
Default: not in the statements, so a typical level.
Working capital0.7%
Stock and unpaid customer bills, less unpaid supplier bills, as a % of revenue. Each year's extra revenue ties up this much more cash.
Default: working capital (current assets less cash and deposits, minus current liabilities other than borrowings) as a share of revenue, averaged over the last 1 years.

Discount rate

Terminal growth2%
How fast cash flows keep growing every year after year 5.
Default: about Korea's long-run inflation plus real growth.
Risk-free rate4.11%
Yield on Korea's 10-year government bond: the return with almost no risk.
Default: Korea Treasury Bond 10-year yield on 2026-10-28.
Beta1
How much the share moves when the market moves: 1 means just like the market.
Default: not enough price history yet, so 1.0 (the market average).
Equity risk premium5.5%
The extra return investors want for owning shares instead of bonds.
Default: a typical premium for Korean shares.
Cost of debt (before tax)5.61%
The interest rate the company would pay to borrow.
Default: the 10-year yield plus a 1.5% credit spread.

Starting point

Revenue (FY 2025): ₩29B
Net debt (borrowings and leases − cash and deposits): −₩3.2B
Shares: 600,000
Share price: ₩60,000
Market cap: ₩36B

Past years and projection

Grey columns are reported results from the annual reports (after-tax EBIT at the model's tax rate), so you can check the growth and margin assumptions against the past. Years 1–5 are the model.

	FY2025	Year 1	Year 2	Year 3	Year 4	Year 5
Revenue	₩29B	₩30B	₩30B	₩31B	₩32B	₩33B
Growth	—	3.0%	3.0%	3.0%	3.0%	3.0%
EBIT	₩412M	₩413M	₩425M	₩438M	₩451M	₩465M
EBIT margin	1.4%	1.4%	1.4%	1.4%	1.4%	1.4%
After-tax EBIT	₩299M	₩299M	₩308M	₩318M	₩327M	₩337M
+ Depreciation	—	₩885M	₩912M	₩939M	₩967M	₩996M
− Capital spending	—	₩1.2B	₩1.2B	₩1.3B	₩1.3B	₩1.3B
− Working capital	—	₩6M	₩6.2M	₩6.4M	₩6.6M	₩6.8M
Free cash flow	—	−₩1.6M	−₩1.6M	−₩1.7M	−₩1.7M	−₩1.8M
Discount factor	—	0.912	0.832	0.759	0.693	0.632
Present value	—	−₩1.5M	−₩1.4M	−₩1.3M	−₩1.2M	−₩1.1M

Terminal value ₩3.1B, worth ₩2B today: 100% of enterprise value. It assumes spending settles at 110% of depreciation once growth slows to the terminal rate.

Sensitivity

Fair value per share as two inputs change; the middle is the current case.

WACC ↓ · Terminal growth →	1.0%	1.5%	2.0%	2.5%	3.0%
8.6%	₩8,738	₩8,980	₩9,259	₩9,583	₩9,964
9.1%	₩8,453	₩8,660	₩8,896	₩9,168	₩9,485
9.6%	₩8,202	₩8,381	₩8,584	₩8,815	₩9,080
10.1%	₩7,981	₩8,137	₩8,312	₩8,510	₩8,735
10.6%	₩7,784	₩7,921	₩8,073	₩8,244	₩8,437

Now (TTM)

Market cap: ₩36B
Enterprise value: ₩33B
P/E: 93.3×
P/B: 1.1×
P/S: 1.3×
EV/EBITDA: —
Dividend yield: —

Over time (at each year end)

Loading data for this company — check back soon

Versus similar companies

Company	P/E	P/B	P/S	EV/EBITDA	Dividend yield
Mobicontents Tech	93.3×	1.1×	1.3×	—	—
Samsung C&T	18.8×	0.5×	1.2×	—	0.9%
POSCO International	10.6×	1.3×	0.3×	—	3.7%
ISC	45.3×	6.0×	12.6×	—	0.5%
Youngone	5.1×	0.7×	0.7×	—	3.1%
Dong SUH Companies	18.9×	1.6×	5.1×	—	4.2%
Shinsegae	14.4×	0.5×	0.3×	—	2.0%
Similar companies (median)	16.6×	1.0×	1.0×	—	2.6%

Calculated from end-of-day prices and filed financial statements. Not a recommendation. This is not financial advice.

Also known as: Mobicontents Tech / 모비콘텐츠테크 / 0077H0 / KRX:0077H0

Source: KRX statistical information