Skip to main content
KREDKRED
006800KOSPI

Mirae Asset Securities

29,850
-650 (-2.13%)

Price chart

  • MA5
  • MA20
  • MA60

Adjusted prices rescale past bars with coefficients taken from the base prices the exchange itself published, correcting for corporate actions such as stock splits and reverse splits. Cash dividends are not reflected, and the risk measures on this page never use these adjusted figures.

Market capitalizationKRW 1T

Each day's close multiplied by the listed share count of this share class alone, sampled weekly. It is the figure for this issue only, not a combined total across common and preferred shares.

Overview

Summary

Mirae Asset Securities is a company listed on the KOSPI market.

The company provides specialized financial services across five business segments. These include global business, investment banking, sales and trading, wealth management, and principal investment. Its services cover IPOs, corporate finance, asset management, and trading of various financial instruments for diverse clients through a global network.

Business overview as filed

미래에셋증권은 글로벌 투자전문기업으로서 고객의 니즈에 맞는 전문화된 금융서비스를 제공하여 고객의 성공적 자산운용과 평안한 노후를 위해 기여하고자 합니다.

국내를 넘어 Global Top-tier IB가 되는 것을 목표로 하며, 주요 비즈니스는 크게 해외사업(Global Business), 투자은행(Investment Banking), 트레이딩(Sales & Trading), 자산관리(Wealth Management), 자기자본 투자(Principal Investment), 총 5개 분야로 구성되어 있습니다.

1. 해외사업(Global Business)

미래에셋증권은 미국, 홍콩, 인도, 베트남, 인도네시아 등 전세계 11개 지역에 진출하여 국내 최대 규모의 글로벌 네트워크를 구축하였습니다. 철저한 현지화 전략을 통한 안정적 수익구조 및 지속가능한 경영 시스템을 확보 하고자 합니다. 선진국에서는 IB, Trading 등 코어 비즈니스 집중을 통한 확고한 성장모델을 구축하고, 신흥국에서는 Digitalization 등을 통한 차별화된 로컬 종합증권사 비즈니스 모델을 지속 확대하여 대한민국 금융 수출에 앞장서고 있습니다.

2. 투자은행(Investment Banking)

미래에셋증권은 기업공개(IPO), 비상장주식(Pre-IPO), 메자닌, 유상증자, 회사채, 인수금융, 프로젝트파이낸싱(PF) 등 기업들의 다양한 니즈에 맞는 최적의 금융솔루션과 국내외 부동산, 인프라(에너지) 등 우량 대체자산 관련 투자금융솔루션을 제공합니다. 또한, 기업 사업구조 개편, 지배구조 및 재무구조 개선을 위한 솔루션 제안 등 컨설팅 비즈니스 확대를 통해 신규 수익원을 지속 창출하며, 해외법인과의 협업을 통해 해외 프로젝트 발굴 및 국내외 투자자 유치를 확대하고 있습니다.

3. 트레이딩(Sales & Trading)

미래에셋증권은 고객들의 다양한 투자 니즈에 대응하여 국내외 주식, 채권, 선물, 외환, 파생상품 및 장외상품 등 여러 금융상품을 연계 운용하며, 국내외 투자자 대상 트레이딩, 대차거래, 파이낸싱 및 ETF 지정참가회사(AP), 유동성공급(LP) 등 시장조성업무 등을 통해 안정적이면서 꾸준한 운용성과를 창출하고 있습니다. 또한, 포트폴리오 운용 효율성을 위해 신기술을 접목한 자체 알고리즘 매매 시스템을 운영하고 있습니다. 향후 탄소배출권 운용 및 시장조성 참여, 신성장분야 Pre-IPO 투자, 비상장주식, 블럭딜 등 운용 대상의 다변화를 추진하여 안정적인 수익을 확보하고자 합니다.

4. 자산관리(Wealth Management)

미래에셋증권은 고객동맹 정신을 바탕으로 우수한 상품을 선별하고, 고객의 투자목적과 성향에 부합하는 다양한 형태의 금융투자상품을 공급합니다. 업계 최대규모의 해외주식과 연금자산을 관리하고, 고객의 투자수익률 향상을 위해 차별화된 자산관리서비스를 제공합니다. 모바일 플랫폼에서는 다양한 AI 기반의 서비스를 제공하여 고객의 투자의사결정을 지원합니다. OCIO 운용역량을 바탕으로 연기금, 공공기관, 일반법인 등 공공·민간 고객에 맞춤형 서비스를 제공합니다.

5. 자기자본 투자(Principal Investment)

미래에셋증권은 국내 최대 규모의 자기자본과 체계적 리스크관리를 기반으로, 장기적으로 경쟁력있는 글로벌 기업과 우량자산, 혁신성장산업에 투자하여 '투자를 통한 성장의 선순환'을 추구하고 있습니다.

각 사업부문별 운영이익은 다음과 같습니다.

주) 연결재무제표 기준

상기 내용은 주주총회 승인전 재무제표 기준이며, 향후 정기주주총회에서 재무제표 승인 관련 안건이 부결되거나 수정이 발생한 경우 정정보고서를 통해 그 내용 및 사유 등을 반영할 예정입니다.

Company overview

1. 연결대상 종속회사 개황

- 연결대상 종속회사 현황(요약)

주) 특정금전신탁 제외 1-1. 연결대상회사의 변동내용 [주1] 당기 중 신규 취득한 투자신탁, 투자조합으로 연결실체가 힘을 보유하고, 변동이익에 노출되어 있으며, 이익에 영향을 줄 수 있도록 힘을 사용할 능력을 보유[주2] 당기 중 100% 출자하여 신규 설립함으로써 지배력을 획득[주3] 당기 중 보유 지분의 전액 또는 일부 처분, 청산 등으로 인한 지배력 상실

2. 회사의 법적 ·상업적 명칭

3. 설립일자 및 존속기간

4. 본사의 주소, 전화번호, 홈페이지 주소

5. 회사사업 영위의 근거가 되는 법률

6. 중소기업 등 해당 여부

7. 주요 사업의 내용

[지배회사의 주요 사업 내용]

[연결대상 주요종속회사의 사업 내용]

8. 신용평가에 관한 사항

1) 최근 3년간 신용등급

최근 3년간 파생결합사채 및 기타파생결합사채의 신용등급

2) 평가사별 신용등급의 의미

(가) 한국기업평가 (나) 한국신용평가 (다) NICE 신용평가 (라) 해외신용평가사

9. 회사의 주권상장(또는 등록ㆍ지정) 및 특례상장에 관한 사항

Transcribed verbatim from the sentences the filer wrote in the fiscal 2025 business report (received 2026.05.15), tables and figures omitted.

  • The summary is written separately from the filed text and is not the filer's wording, so it may phrase things differently from or omit parts of the original, which is shown alongside for checking.
  • The company introduction reproduces the sentences the filer wrote in its business report, with tables, figures and the sentences that point to other sections of the report omitted, and the accuracy of their content has not been separately verified.

VaR

3.58%
[2.40%, 5.68%] · As of 2026-10-02
VaR by window

The headline's measure for each of the three windows on one scale, the dot being the estimate and the bar its interval. The windows are nested and share their observations, so the three readings are not three independent measurements. The selected window is highlighted.

Daily return distribution

The issue's daily returns over the chosen window counted into equal-width bins. The vertical lines mark the VaR and cVaR above on the loss side. The published VaR sample applies exclusion rules for halts and first sessions that this raw daily series does not, so the bars and the marks can differ slightly at the edges.

Drawdown

Deepest drawdown 64.4% (2026-10-08). How far below its previous peak the issue stood each day over the chosen window, a description of the path already travelled.

If these numbers are unfamiliarThere is a guide that walks through VaR, cVaR and annualized volatility in plain language.Read the guide

Characteristic line

0.92
Beta [0.77, 1.06] · KOSPI200 · As of 2026-10-08
Intercept
-0.093%[-0.564%, +0.378%]
R squared
0.41
Observations
252
Trading-time corrected beta
0.95[0.70, 1.20]
252-day rolling beta

A 252-day window rolled one day at a time over the longest daily span of the characteristic line. It shows when the beta against the KOSPI200 and the annualized volatility of the issue's excess return rose and fell, and unlike the headline figures above it carries no interval.

252-day rolling annualized volatility

Each point is one period's index excess return and issue excess return, and the line is the regression fitted to those points. The risk-free rate is the certificate of deposit rate.

Financials

2022202320242025TTM
RevenueKRW 100M191,612203,595222,423292,830515,956
Revenue growth%—6.259.2531.65—
Operating incomeKRW 100M8,3565,21011,88119,15149,334
Operating income growth%—-37.64128.0261.19—
Net incomeKRW 100M7,0613,3799,25515,82938,260
Net income growth%—-52.15173.9271.04—
Attributable to ownersKRW 100M6,8593,2709,21615,69537,997
Attributable to minoritiesKRW 100M20210839134263
Operating margin%4.362.565.346.549.56
Net margin%3.691.664.165.417.42
ROE%6.252.957.6211.8023.73
ROA%0.660.260.671.051.96
Debt ratio%863.591,040.481,018.561,015.011,103.73
Reserve ratio%168.46170.12185.97216.38274.95
Free cash flowKRW 100M25,739-41,015-102,772-69,057—
FCF margin%13.43-20.15-46.21-23.58—
OCF conversion%367.51-1,206.91-1,107.58-433.44—
Capex to revenue%0.110.120.120.15—
EPSKRW1,1085311,5452,6806,790
PERx5.4914.375.208.716.30
BPSKRW17,84018,30620,67323,46028,612
PBRx0.340.420.391.001.49
Dividend per shareKRW200—150250—
Payout ratio%18.05—9.719.33—

Consolidated basis

Margins%

Cash flow by activityKRW 100M

Quarterly resultsKRW 100M

Year-on-year growth%

Each quarterly bar is that quarter's three months and is never mixed with an annual figure. The growth rate is computed only where the same quarter a year earlier is also shown here, and is left blank when the base was a loss.

Free cash flow breakdownKRW 100M

Free cash flow is cash from operating activities less spending on property, plant and equipment, and all three bars keep the sign as filed.

Owners' net margin%

Asset turnoverx

Financial leveragex

ROE%

ROE is the product of the owners' net margin, asset turnover and financial leverage. All three use period-end balances as denominators, and profit and equity are on the owners' basis, so the product matches the ROE in the table.

Financial statements

Balance sheet

2022202320242025
1,069,5221,281,773*1,371,770*1,502,839
958,5291,169,3841,249,133*1,368,057
110,993112,389*122,637*134,782

Income statement

2022202320242025
191,612203,595222,423*292,830
Operating incomeKRW 100M8,3565,21011,881*19,151
8,4923,790*12,245*20,794
7,0613,379*9,255*15,829
Basic earnings per shareKRW1,108531*1,5452,680
Diluted earnings per shareKRW1,108531*1,5452,680
6,2877,130*12,567*14,243

Cash flow statement

2022202320242025
Net incomefrom the income statement7,0613,3799,25515,829
Total adjustments to operating cash flowcomputed18,890-44,155-111,757-84,439
25,951-40,776-102,503*-68,610
-34,2423,524-13,697*57,867
-2,95526,046116,598*8,621
Cash at beginning of periodKRW 100M37,96628,47917,509*19,325
Not applicableNot applicableNot applicableNot applicable
Net change in cash and cash equivalentsKRW 100M-9,487-10,9701,816*-2,344

In the latest fiscal year operations consumed cash while investing and financing activities brought cash in.

A year whose own filing is absent is filled from the restated comparative in the following filing, and is marked as such. Operating indicators outside the statements, such as order backlogs, and audit opinions are not covered here, and per-share figures follow the filed values without retroactive adjustment for share splits.

Transcribed verbatim from the sentences the filer wrote in the fiscal {year} business report (received {date}), with tables, figures and cross-references to other sections omitted.

The newest annual filing shown was received on 2026.05.15.

Audit opinion

Fiscal yearOpinionAuditorFiscal year end
2025적정의견Term 57삼정 회계법인2025-12-31
2024적정의견Term 56삼정 회계법인2025-12-31
2023적정의견Term 55삼정 회계법인2025-12-31
2022적정Term 54삼일회계법인2022-12-31
2021적정Term 53삼일회계법인2022-12-31
2020적정Term 52삼일회계법인2022-12-31
2019적정Term 51삼정회계법인2019-12-31
2018적정Term 50삼정회계법인2019-12-31
2017적정Term 49삼정회계법인2019-12-31
2016적정Term 48안진회계법인2016-12-31
2015적정Term 47한영회계법인2016-12-31
2014적정Term 46삼정회계법인2016-12-31

The auditor's name and the opinion are transcribed verbatim from the filed audit report, and the wording follows the filer. A fiscal year shown twice means the filing carried two entries that the source does not distinguish.

Korean audit opinions come in four kinds, where an unqualified opinion (적정) finds the statements fairly presented, a qualified opinion (한정) does so except for a stated matter, an adverse opinion (부적정) finds them not fairly presented, and a disclaimer of opinion (의견거절) means the auditor could not obtain enough evidence to form a view.

Valuation

Valuation multiplesx

PER and PBR divide each period's closing price by the per-share figure filed for that same period, and a loss period is left blank. The quarterly view is a multiple of quarterly EPS.

Dividend historyKRW

The dividend-per-share bars are restated onto the current share basis for splits and par-value changes. The payout ratio and the dividend yield divide figures filed for the same period and are left unadjusted.

Payout ratio and dividend yield%

PER bandKRW

The price is the adjusted close and each band line multiplies the EPS of the latest completed fiscal year by a fixed multiple. The previous year's EPS stays in force until the next fiscal year ends, and the multiples divide the range between the lowest and highest annual PER on record into equal steps.

Valuation models

Five models priced under one set of assumptions, set beside the current price, with how each has moved by fiscal year.

Assumptions

Risk-free rate10-year treasury yield · 2026-10-084.40%
BetaDaily 5Y0.98
%
%
Cost of equity9.30%
Weighted average cost of capital—
Initial growth10.7%
Effective tax rate23.9%
Base fiscal year2025
Current priceKRW29,850

The risk premium and the terminal growth rate are adjustable assumptions, and the rest follow from the data and the formulas.

ModelModel priceKRWVersus current price
Gordon growth model3,477-88.4%
Dividend discount model DDM4,220-85.9%
Discounted cash flow FCFFNo borrowing line filed
Discounted cash flow FCFEBase-year cash flow not positive
Residual income model RIM33,931+13.7%
The table prices the newest fiscal year's accounts at today's treasury yield and the current price.

Dividend and residual income familyKRW

Discounted cash flow familyKRW

Each fiscal year's figures use that year's accounts and the treasury yield at its period end, with beta held at its current value, and splits or par changes are restated to the current share basis.

How the figures are calculated

Each model's formula is shown in symbols and then with this issue's own numbers substituted, step by step. Changing a value in the assumptions panel changes the numbers here too. Firm-level amounts are in hundred million won and per-share values in won.

Cost of equity

r=rf+β×ERPr = r_f + \beta \times \mathit{ERP}

r = 4.40% + 0.98 × 5.00% = 9.30%

Initial growth

g1=max⁡{ROE×(1−payout), 0},gt=g1+(gT−g1) t−1N−1g_1 = \max\{\mathit{ROE} \times (1 - \text{payout}),\,0\},\qquad g_t = g_1 + (g_T - g_1)\,\frac{t-1}{N-1}

g_1 = max(11.80% × (1 − 9.33%), 0) = 10.70%

Growth starts at this value in the first year and falls by equal steps each year to reach the terminal rate in the fifth

Gordon growth model

P0=D0 (1+gT)r−gTP_0 = \frac{D_0\,(1 + g_T)}{r - g_T}

P_0 = 250 × (1 + 2.00%) / (9.30% − 2.00%) = 255 / 0.0730 = 3,492 KRW

Dividend discount model DDM

P0=∑t=1NDt(1+r)t+DN(1+gT)(r−gT) (1+r)N,Dt=Dt−1(1+gt)P_0 = \sum_{t=1}^{N} \frac{D_t}{(1+r)^t} + \frac{D_N (1+g_T)}{(r - g_T)\,(1+r)^N},\qquad D_t = D_{t-1}(1+g_t)

D_0 = 250, g_1 = 10.70%, g_T = 2.00%, r = 9.30%

YearGrowthDividend KRWDiscount factorPresent value KRW
110.70%2770.9149253
28.52%3000.8370251
36.35%3190.7658245
44.17%3330.7006233
52.00%3390.6410218
Terminal value2.00%4,7410.64103,039
Total4,239

P_0 = 4,239 KRW

Residual income model RIM

P0=B0+∑t=1NRIt(1+r)t+RIN(1+gT)(r−gT) (1+r)N,RIt=(ROE−r) Bt−1P_0 = B_0 + \sum_{t=1}^{N} \frac{\mathit{RI}_t}{(1+r)^t} + \frac{\mathit{RI}_N (1+g_T)}{(r - g_T)\,(1+r)^N},\qquad \mathit{RI}_t = (\mathit{ROE} - r)\,B_{t-1}

B_0 = 23,460 KRW, ROE = 11.80%, payout ratio = 9.33%, r = 9.30%, g_T = 2.00%

YearOpening book valueEarningsEquity chargeResidual incomeDiscount factorPresent value
123,4602,7682,1825850.9149536
225,9693,0642,4166480.8370542
328,7473,3922,6747170.7658549
431,8223,7542,9607940.7006556
535,2264,1563,2778790.6410564
Terminal value12,2800.64107,871

P_0 = 23,460 + 2,747 + 7,871 = 34,079 KRW

The cost of equity is the risk-free rate plus beta times the equity risk premium. Initial growth is the newest fiscal year's return on equity times its retention ratio, floored at zero, and falls by equal steps from that value in the first year to the terminal rate in the fifth. Only the Gordon model grows at the terminal rate from the start. Discounted cash flow starts from operating cash flow less capital expenditure, where FCFF adds after-tax interest paid and discounts at the weighted average cost of capital, and FCFE adds net borrowing and discounts at the cost of equity. The residual income model adds to book value per share the present value of earnings above the equity charge.

Other issues on the same market

Neighbours in the market capitalisation order.

See the full KOSPI list