Meritz Financial Group stock: fair value
138040.KSThe fair value of Meritz Financial Group under our model is $181.11, the price is 53% below.
The fair value is an estimate from our model, not a price target.
Daily figure as of 13 Nov 2026
Valuation signal
Significantly undervaluedIn our model the price counts as cheap below $129.37 and expensive above $301.85 (uncertainty high, based on the price swings of the past year).
The two parts of the fair value come to $222.09 (excess return model) and $140.13 (industry comparison), and the gap between them shows how uncertain the estimate is. The price is below both.
Calculated with a cost of equity of 8.3%. At 9.3% the fair value would be $162.60, at 7.3% it would be $208.87.
Where the number comes from
Half from the excess return model, half from earnings times the sector P/E (13).
Excess return model for banks and insurers: book value plus the value of returns above the cost of equity of 8.3% (floor: government bond yield 3.3% plus 5 percentage points, since beta 1.01 times the risk premium would give less).
Calculate with your own assumptionsThe calculation step by step
With these figures the excess return model arrives at $222.09 per share: book value plus the value of what the company earns above its cost of equity over time. The table explains the calculation; it is not a recommendation.
Calculation as a table
| Step | Value |
|---|---|
| Book value per share | $44.49 |
| Stable earnings per share (analyst estimates) | $12.59 |
| Return on equity in the model (stable earnings divided by book value) | 28.3% |
| Cost of equity | 8.3% |
| Excess return per share: (return − cost) × book value | $8.88 |
| Terminal value of excess returns: excess return / (8.3% − 3.3%) | $177.61 |
| Value per share (book value plus terminal value) | $222.09 |
| Earnings per share, last twelve months | $10.75 |
| × 13 (sector P/E) | $140.13 |
| Fair value (average of both parts) | $181.11 |
Data status and sources
- Score
- Daily value of 13 Nov 2026, recalculated nightly
- Price
- Closing price of 12 Nov 2026
- Latest annual report
- Fiscal year 2025, period end 31 Dec 2025
- Currency
- Amounts in US dollars, converted at the ECB reference rate of 12 Nov 2026 ($1 = ₩1,334.10)
- Source
- Financial statements, ratios and prices from Financial Modeling Prep (FMP), based on the company's reports. MEQIRI calculates the score and fair value from them.
Mandatory disclosures for this rating
- ; time horizon around 12 months
- Rated Strong, published since 7 Nov 2026 (in the score history since 31 Oct 2020)
- Valuation signal Undervalued since 7 Nov 2026
- End-of-day prices, metrics cached for up to 24 hours
- Score and fair value are estimates from a disclosed model. They are not facts and not a price target.
- Produced by SSM Ventures UG (haftungsbeschränkt), responsible person Sven Brostmeyer, Managing Director, automatically according to the disclosed model.
- Not investment advice. Losses up to and including a total loss are possible. Personal circumstances are not considered.