
BOOKOOK Securities Co., Ltd. (001275.KS)
ValueMarkers Composite Index
23% below intrinsic value ($32)
BOOKOOK Securities Co., Ltd. (001275.KS) — VMCI valuation read
Headline read on 001275.KS: VMCI of 63/100 versus a Financial Services sector median of 50. The 13-point above-median position is what makes BOOKOOK Securities Co., Ltd. a relative-value candidate in the mid-cap cohort, before any pillar-level review.
Form 4 filings on 001275.KS: zero in the trailing 30 days. The absence of insider transactions is itself a data point, just a low-information one. The thesis runs on financials and price action until that changes.
**Investor frame.** Three reads on 001275.KS: value (001275.KS trades at 17.0x earnings, 6% below the Financial Services median of 18.0x), quality (ROIC of 11.0% sits 1.0pp above the Financial Services median (10.0%)), and risk (net debt to EBITDA of 0.6x leaves covenant headroom). The value read also implies an EV/EBITDA gap of +4.0x against the Financial Services 12.0x baseline.
001275.KS fell 1.4% over the trailing 7 days, with a +3.4% read on a 30-day basis.
BOOKOOK Securities Co., Ltd. provides retail and institutional brokerage services in South Korea. The company operates through Retail, Financial Product Trading, Investment Banking, and International Business divisions. It is involved in the sale and brokerage of stocks, futures/options, and financial products; trading of financial products, such as stocks, futures/options, bonds, and interest rate futures; and project financing, structured financing, and financial derivatives dealing and underwriting businesses. The company also provides consulting and investment services relating to mergers and acquisitions, restructuring, and joint venture establishments, as well as securities dealing and underwriting services; and back office services, such as planning and strategy, risk management, financial accounting management, and compliance, as well as economic, industry, and company research. Further, it engages in corporate finance activities, such as IPOs, corporate bonds, etc. The company was founded in 1954 and is headquartered in Seoul, South Korea.
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