KOSDAQ · 027830 · Financials · ₩027830

Daesung Private Equity대성창투

027830 · KOSDAQ · ₩027830 · 대성창투

₩692 ₩0 (0.00%)End-of-day · Oct 29, 2026 · End-of-day prices.

Valuation model · P/B vs ROE (excess return)

Banks, insurers and brokers don't suit a cash flow model (borrowing and lending is their business), so we value them on book value and return on equity: P/B vs ROE.

Fair value per share

₩993

vs the current price (₩692)

Cost of equity: 9.6%
Fair P/B: 0.53×
P/B now: 0.37×

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

Bear / Base / Bull

Bear: ₩439; −36.6%
Base: ₩993; +43.6%
Bull: ₩1,716; +148.0%

Bear: ROE 2 points lower and cost of equity 1 point higher. Bull: the opposite.

Assumptions

Business

Return on equity6%
Yearly profit as a share of shareholders' equity.
Default: average return on equity of the last 3 annual reports.
Long-run growth2%
How fast book value and profits grow over the long run.
Default: close to the economy's long-run growth.

Discount rate

Risk-free rate4.08%
Yield on Korea's 10-year government bond: the return with almost no risk.
Default: Korea Treasury Bond 10-year yield on 2026-10-29.
Beta1
How much the share moves when the market moves: 1 means just like the market.
Default: 1.0. Measured beta is 0.6, but against a KOSPI dominated by chipmakers that understates a bank's or insurer's risk, so we use at least the market's.
Equity risk premium5.5%
The extra return investors want for owning shares instead of bonds.
Default: a typical premium for Korean shares.

Starting point

Net debt (borrowings and leases − cash and deposits): −₩43B
Equity (book value): ₩102B; Book value per share ₩1,883
Shares: 54,000,000
Share price: ₩692
Market cap: ₩37B

Sensitivity

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

Cost of equity ↓ · ROE →	4.0%	5.0%	6.0%	7.0%	8.0%
8.6%	₩572	₩858	₩1,144	₩1,430	₩1,716
9.1%	₩532	₩798	₩1,064	₩1,329	₩1,595
9.6%	₩497	₩745	₩993	₩1,242	₩1,490
10.1%	₩466	₩699	₩932	₩1,165	₩1,398
10.6%	₩439	₩658	₩878	₩1,097	₩1,316

Now (TTM)

Market cap: ₩37B
Enterprise value: −₩6.1B
P/E: 6.8×
P/B: 0.4×
P/S: 3.5×
EV/EBITDA: —
Dividend yield: 0.0%

Over time (at each year end)

	2025	2024	2023
Price	₩1,578	₩1,810	₩1,852
Market cap	₩85B	₩98B	₩100B
P/E	271.2×	7.1×	45.9×
P/B	0.9×	1.0×	1.2×
P/S	9.2×	4.9×	8.1×
EV/EBITDA	39.7×	4.0×	28.9×
Dividend yield	0.0%	—	—

Versus similar companies

Company	P/E	P/B	P/S	EV/EBITDA	Dividend yield
Daesung Private Equity	6.8×	0.4×	3.5×	—	0.0%
Mirae Asset Securities	3.8×	0.9×	0.3×	—	1.1%
NH Investment & Securities	5.9×	0.8×	—	—	5.3%
Samsung Securities	5.1×	0.9×	—	—	4.8%
KIWOOM Securities	3.6×	0.8×	0.2×	21.7×	4.9%
Samsung Card	7.3×	0.5×	—	28.5×	6.8%
kakaopay	52.4×	2.3×	4.0×	—	0.0%
Similar companies (median)	5.5×	0.8×	0.3×	25.1×	4.8%

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

Also known as: Daesung Private Equity / 대성창투 / 027830 / KRX:027830

Source: KRX statistical information