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Fino Inc.033790.KSCompetitor analysis, valuation and peers

South Korea · KRW·Information Technology›Packaged Software
Momentum strong 62
Mkt cap
$428M
US dollars, full cap
Free float
36%
of shares outstanding
$/day
$14.3M
20-day average traded
Fwd P/E
n/m
no positive forecast
ROIC−WACC
+7.6 pp
WACC 6.1%
Hurdle
-54 pp
Req g minus delivered
Close · KRW₩6,760
1D-19.0%
1W-8.0%
1M-34.5%
3M+29.8%
6M-53.1%
YTD+22.9%
1Y+49.1%
ATR %13.4%
52w lowhigh64.7% off high

What Fino does

Employees: 31

Fino at a glance

Size Fino (033790.KS) is a South Korea Information Technology company (Packaged Software) with a market value of $428M, the 372nd largest of 495 South Korea companies the cockpit tracks. Shares closed at ₩6,760 on 6 Nov 2026.

Performance Over six months the shares fell 53.1%, against -8.3% for the median peer and -24.5% for the South Korea market (cap-weighted) — 2nd lowest of 20 in its peer set.

Growth Revenue grew 194.5% over the last twelve months (peer median +7.9%); the operating margin is 5.3% (peer median 5.2%).

Valuation It trades at 1.3× enterprise value to sales against a peer median of 4.1× (5th cheapest of 20).

Price implies For today's price to make sense, revenue must grow about 7% a year for seven years (Req g). Recent delivered growth is +60%, so the hurdle is -54 pp: the price already allows for a slowdown.

Capital Return on invested capital runs 7.6 points above its cost of capital (6.1% WACC).

Relative performance

5010011 May 202611 Aug 20266 Nov 2026Peer median 92033790.KS 50
Six months, rebased to 100: Fino against the median of its 20 peers (local-currency closes).

Fino financials

Reported figures in KRW; fiscal year ends 2025-12-31. TTM = trailing twelve months.
TTMFY2025FY2024FY2023FY2022
Revenue₩376B₩265B₩30.7B₩6.97B₩11.4B
Revenue growth—+763%+340%-39%—
Gross profit₩25.7B₩14.1B₩3.62B₩1.81B₩7.02B
EBITDA₩20.3B₩9.18B₩291M-₩1.82B₩1.78B
Net income₩4.93B-₩5.85B-₩2.47B-₩1.94B₩1.73B
Free cash flow₩15.4B-₩11.1B-₩947M-₩2.51B₩1.27B
Capital expenditure₩53.0M₩12.9M₩270M₩12.9M₩91.5M
Total debt₩195M₩1.25B₩44.4B₩0₩0

Quarterly statements and history in the cockpit →

Fino competitor charts

The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.

Performance: 6-month against 1-month return

-50%0%+50%+100%-40%-20%0%CAPILLARYPLW0799MTLSOCLDTOL63MOONS30094130007868865778036643300826300845BRAIAPI033790.KS6-month return →1-month return →
Up and to the right = strong over both horizons. Fino is the large dot.

Fundamentals: revenue growth against valuation

0%+100%+200%0×5×10×CAPILLARYPLW0799MTLSOCLCOFFEE-B63MOONS3009413000786643300845688579033790.KSRevenue growth (TTM) →EV / Sales →
Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. Fino is the large dot.

Capital: growth delivered against growth the price implies

0%+20%+40%+60%0%25%50%CAPILLARYPLWMTLSOCLCOFFEE-BDTOL68865778033008263962688579033790.KSGrowth delivered (Del g) →Growth the price implies (Req g, 7 yrs) →
Above the diagonal = the price needs more growth than the company has been delivering; below = the price already allows for a slowdown. Fino is the large dot.

Fino competitors and peer comparison

How Fino compares with its peers

Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.

Fino against its 20 peers (data as of 6 Nov 2026)
Measure033790.KSPeer medianRank in peer set
1-month return-34.5%-2.6%2nd lowest of 21
6-month return-53.1%-8.3%2nd lowest of 20
Distance from 52-week high-64.7%-30.6%4th lowest of 21
Revenue growth (TTM)+194.5%+7.9%2nd highest of 20
Operating margin5.3%5.2%10th highest of 20
EV / Sales1.3×4.1×5th cheapest of 20
Growth the price implies (Req g, 7 yrs)6.6%15.4%5th least demanding of 12
Growth delivered (Del g)+60.2%+10.2%highest of 12
Hurdle (Req g minus delivered)-53.6 pp+15.8 ppleast demanding of 12
ROIC minus cost of capital+7.6 pp-5.6 pp7th highest of 19
EV / EBITDA24.1×10.4×2nd most expensive of 11
Net debt / EBITDA-5.6×-2.5×4th least indebted of 13

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
CompanyMarketMarket cap6M returnRevenue growthOp. marginEV / SalesReq gDelivered g
Fino 033790.KSSouth Korea$428M-53%+195%5%1.3×6.6%+60.2%
Capillary Technologies India CAPILLARY.NSIndia$427M-8%+23%3%4.8×49.7%+33.9%
PlayWay Spolka Akcyjna PLW.WAPoland$425M+5%+8%45%4.5×-3.4%+12.7%
IGG 0799.HKHong Kong$431M-11%-1%12%0.3×n/an/a
Materialise NV Sponsored ADR MTLSUnited States$432M+25%+10%2%1.1×26.0%+9.2%
UltraGreen.ai UGS.SISingapore$433Mn/a+25%57%1.5×n/an/a
Objective OCL.AXAustralia$434M-39%+7%32%4.1×8.1%+6.8%
Coffee Stain COFFEE-B.STSweden$435M-11%-12%10%3.7×5.6%-11.8%
D2L DTOL.TOCanada$436M+19%+3%5%1.6×15.4%+12.4%
63 Moons Technologies 63MOONS.NSIndia$437M+21%+238%-104%13.0×n/an/a
Chase Science 300941.SZChina$437M-20%+29%1%7.2×n/an/a
Hangzhou Century 300078.SZChina$438M-33%-46%-2%6.7×n/an/a
Gstarsoft 688657.SSChina$415M-19%+17%8%4.1×28.1%+12.1%
Bushiroad 7803.TJapan$441M+102%+3%8%1.0×-3.9%+10.2%
M31 Technology 6643.TWOTaiwan$443M-46%+19%-8%7.9×n/an/a
NanJing Institute of Surveying Mapping and Geotechnical Investigation 300826.SZChina$444M-1%+8%1%3.3×45.8%+8.8%
Zhengzhou Jiean Hi-tech 300845.SZChina$444M+5%+6%7%7.0×n/an/a
Braiin BRAIUnited States$447M-70%n/an/an/an/an/a
Agora, Inc. Sponsored ADR APIUnited States$408M-2%+14%-5%1.1×n/an/a
CHANGE Holdings,Inc 3962.TJapan$407M-3%+12%20%1.4×-13.0%+38.0%
Dareway Intelligent Technology 688579.SSChina$450M-26%-21%-2%6.1×18.9%+0.9%

Questions

Which companies are Fino's closest peers?
The cockpit's peer set: Capillary Technologies India (CAPILLARY.NS), PlayWay Spolka Akcyjna (PLW.WA), IGG (0799.HK), Materialise NV Sponsored ADR (MTLS), UltraGreen.ai (UGS.SI), Objective (OCL.AX), Coffee Stain (COFFEE-B.ST), D2L (DTOL.TO).
Is Fino expensive compared with its peers?
On ev / sales it trades at 1.3× against a peer median of 4.1×, 5th cheapest of 20 in its peer set. For today's price to make sense, revenue must grow about 7% a year for seven years (Req g). Recent delivered growth is +60%, so the hurdle is -54 pp: the price already allows for a slowdown.
How has Fino stock performed?
Over six months to 6 Nov 2026 the shares returned -53.1% against -8.3% for the median peer; over one year +49.1%.

How these numbers are made. Returns are close-to-close in local currency. Revenue growth and margins are trailing twelve months. Req g is the revenue growth that today's enterprise value requires for seven years at the company's own cost of capital; Delivered g is what it actually grew; the gap is the hurdle (honest precision about ±8 points, so read the ranking more than the decimal). No fair values, price targets or analyst ratings are shown, by design. Method and validation.