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← CockpitCompetitor Analysis › 053800.KS AhnLab, Inc.Open in the cockpit ↗

AhnLab, Inc.053800.KSCompetitor analysis, valuation and peers

South Korea · KRW·Information Technology›Packaged Software
Momentum leader 99
Mkt cap
$696M
US dollars, full cap
Free float
44%
of shares outstanding
$/day
$36.5M
20-day average traded
Fwd P/E
n/m
no positive forecast
ROIC−WACC
+2.2 pp
WACC 5.5%
Hurdle
-4 pp
Req g minus delivered
Close · KRW₩99,100
1D+0.9%
1W-16.1%
1M+27.5%
3M+76.0%
6M+57.0%
YTD+64.9%
1Y+65.7%
ATR %11.4%
52w lowhigh27.8% off high

What AhnLab does

Employees: 1,257

AhnLab at a glance

Size AhnLab (053800.KS) is a South Korea Information Technology company (Packaged Software) with a market value of $696M, the 287th largest of 495 South Korea companies the cockpit tracks. Shares closed at ₩99,100 on 6 Nov 2026.

Performance Over six months the shares gained 57.0%, against -13.7% for the median peer and -24.5% for the South Korea market (cap-weighted) — 3rd highest of 21 in its peer set.

Growth Revenue grew 10.1% over the last twelve months (peer median +7.8%); the operating margin is 13.3% (peer median 7.5%).

Valuation It trades at 3.2× enterprise value to sales against a peer median of 2.4× (8th most expensive of 21).

Price implies For today's price to make sense, revenue must grow about 5% a year for seven years (Req g). Recent delivered growth is +8%, so the hurdle is -4 pp: the price already allows for a slowdown.

Capital Return on invested capital runs 2.2 points above its cost of capital (5.5% WACC).

Relative performance

10015011 May 202611 Aug 20266 Nov 2026053800.KS 157Peer median 88
Six months, rebased to 100: AhnLab against the median of its 20 peers (local-currency closes).

AhnLab financials

Reported figures in KRW; fiscal year ends 2025-12-31. TTM = trailing twelve months.
TTMFY2025FY2024FY2023FY2022
Revenue₩293B₩268B₩261B₩239B₩228B
Revenue growth—+3%+9%+5%—
Gross profitn/a₩103B₩93.8B₩87.3B₩84.3B
EBITDAn/a₩42.9B₩37.8B₩35.0B₩35.6B
Net income₩43.7B₩54.3B₩33.7B₩35.8B₩14.2B
Free cash flown/a₩60.9B₩26.5B₩32.5B₩29.6B
Capital expendituren/a₩5.88B₩9.12B₩7.92B₩7.23B
Total debtn/a₩1.62B₩2.25B₩378M₩674M

Quarterly statements and history in the cockpit →

AhnLab 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%-20%0%+20%ENGHUBI600571688418DDISABR002322301491300227PEXIPSMWBSPT26433693ABS300532300996688207053800.KS6-month return →1-month return →
Up and to the right = strong over both horizons. AhnLab is the large dot.

Fundamentals: revenue growth against valuation

-20%0%+20%+40%+60%2×4×6×ENGHUBI600571688418DDISABR002322301491300227PEXIPSMWBSPT60075626433693ABS300532300996NEWGEN688207053800.KSRevenue growth (TTM) →EV / Sales →
Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. AhnLab is the large dot.

Capital: growth delivered against growth the price implies

-10%0%+10%+20%+30%0%20%ENGH002322301491PEXIPSMWBSPT3693ABSNEWGEN053800.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. AhnLab is the large dot.

AhnLab competitors and peer comparison

How AhnLab 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.

AhnLab against its 20 peers (data as of 6 Nov 2026)
Measure053800.KSPeer medianRank in peer set
1-month return+27.5%-3.6%highest of 21
6-month return+57.0%-13.7%3rd highest of 21
Distance from 52-week high-27.8%-33.8%9th highest of 21
Revenue growth (TTM)+10.1%+7.8%9th highest of 21
Operating margin13.3%7.5%8th highest of 21
EV / Sales3.2×2.4×8th most expensive of 21
Growth the price implies (Req g, 7 yrs)4.5%0.2%4th most demanding of 10
Growth delivered (Del g)+8.5%+12.6%3rd lowest of 10
Hurdle (Req g minus delivered)-4.0 pp-7.2 pp4th most demanding of 10
ROIC minus cost of capital+2.2 pp+4.7 pp9th lowest of 20

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
CompanyMarketMarket cap6M returnRevenue growthOp. marginEV / SalesReq gDelivered g
AhnLab 053800.KSSouth Korea$696M+57%+10%13%3.2×4.5%+8.5%
Enghouse Systems ENGH.TOCanada$695M+1%-5%19%1.5×-14.5%-0.2%
UBISOFT Entertainment UBI.PAFrance$692M-15%-27%-87%0.7×n/an/a
Sunyard Technology 600571.SSChina$690M-22%+1%-1%2.1×n/an/a
Genew Technologies 688418.SSChina$688M-49%-12%-22%6.5×n/an/a
DoubleDown Interactive Co., Ltd. Sponsored ADR DDIUnited States$682M+17%+14%38%0.4×n/an/a
Sabre SABRUnited States$680M-18%-3%14%1.5×n/an/a
Ningbo Ligong Environment and Energy Technology 002322.SZChina$677M+9%+9%26%3.5×-5.4%-0.8%
Hansong (Nanjing) Technology 301491.SZChina$673M-28%+26%10%1.4×-1.4%+9.7%
Shenzhen Sunshine Laser & Electronics Technology 300227.SZChina$673M-33%+90%-15%2.5×n/an/a
Pexip PEXIP.OLNorway$722M-18%+9%26%5.0×-0.3%+12.6%
Similarweb SMWBUnited States$724M+141%+10%-2%2.3×28.2%+24.8%
Sprout Social SPTUnited States$669M+63%+11%-5%1.2×0.2%+28.0%
Inspur Software 600756.SSChina$669M-23%-25%-25%3.4×n/an/a
CaoCao 2643.HKHong Kong$725M-59%+38%-3%0.5×n/an/a
AIC 3693.TWOTaiwan$667M-22%-21%8%2.9×22.9%+20.2%
Asseco Business Solutions ABS.WAPoland$728M-6%+15%33%5.5×3.8%+11.1%
New Trend International Logis-Tech 300532.SZChina$728M-7%+56%7%1.4×n/an/a
Pansoft 300996.SZChina$665M-11%-4%11%5.1×n/an/a
Newgen Software Technologies NEWGEN.NSIndia$665M-12%+6%24%3.1×21.7%+18.5%
Beijing Deep Glint Technology 688207.SSChina$663M+15%-14%-195%27.3×n/an/a

Questions

Which companies are AhnLab's closest peers?
The cockpit's peer set: Enghouse Systems (ENGH.TO), UBISOFT Entertainment (UBI.PA), Sunyard Technology (600571.SS), Genew Technologies (688418.SS), DoubleDown Interactive Co., Ltd. Sponsored ADR (DDI), Sabre (SABR), Ningbo Ligong Environment and Energy Technology (002322.SZ), Hansong (Nanjing) Technology (301491.SZ).
Is AhnLab expensive compared with its peers?
On ev / sales it trades at 3.2× against a peer median of 2.4×, 8th most expensive of 21 in its peer set. For today's price to make sense, revenue must grow about 5% a year for seven years (Req g). Recent delivered growth is +8%, so the hurdle is -4 pp: the price already allows for a slowdown.
How has AhnLab stock performed?
Over six months to 6 Nov 2026 the shares returned +57.0% against -13.7% for the median peer; over one year +65.7%.

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.