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You're reading an earlier report from Oct 18, 2026. See the latest report

Lotte Chilsung Beverage · 005300 · Food & Beverage

Lotte Chilsung Beverage: Thin Margins, Low Book Multiple and a Wide Model Range

Why this report

Start of coverage: written when a reader opened this company and there was no report yet.

Lotte Chilsung Beverage closed at ₩98,300 on 2026-10-16, down 14.4% over one year and near the low end of its 52-week range of ₩93,600 to ₩154,800. Revenue has held near ₩4.0T for two years while operating margin has fallen from 7.8% in 2022 to 4.5% on a trailing basis.

Written Oct 18, 2026 · Data as of Oct 16, 2026 · 0 views

This is not financial advice. The report does not recommend buying or selling anything.

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Thesis

The data shows a business that grew sales strongly through 2024 but has not turned that into higher profit. Operating margin fell from 7.8% in 2022 to 4.2% in 2025, and ROE fell from 11.6% in 2023 to 3.1% in 2025. Trailing figures to H1 2026 show a small recovery: net income of ₩65.4B, operating margin of 4.5% and ROE of 4.3%.

On the positive side, the shares trade at 0.6 times book value with a 3.5% dividend yield, and free cash flow of ₩203.7B is large relative to the ₩912.1B market cap. On the other side, leverage is high, foreign ownership is falling and the share price trend over one year is negative. The data does not include company guidance or analyst forecasts, so the outlook cannot be assessed from it.

Business overview

Lotte Chilsung Beverage is a KOSPI-listed Food & Beverage company, founded in 1967 and listed in 1973, with 9,278,884 listed shares and a market cap of about ₩912.1B. The CEO is listed as 박윤기. Revenue grew from ₩2.5T in 2021 to ₩4.0T in 2024, including growth of 24.8% in 2024, then slipped 1.3% to ₩3.97T in 2025. Recent news headlines in the data mostly concern advertising campaigns, including the revival of a 'Captain Q' brand, a Chilsung Cider campaign and a zero-sugar soju promotion, plus one Chosun Biz story about empty bottles. The data does not give a breakdown by business line.

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Model estimate of fair value

Bear
₩70,443
-26%
Base
₩349,990
+268%
Bull
₩909,529
+857%

Model estimate based on the assumptions shown. Not a price target and not a buy or sell signal.

Base case of the 5-year discounted cash flow model on the stock's Valuation tab (statements TTM to H1 2026; discount rate 5.9%). Bear and Bull move the main assumptions by fixed steps. See and change the assumptions

Filings and data used

Report history

  1. Oct 26, 2026Update noteModel fair value changeLotte Chilsung Beverage: Model Fair Value Estimate Rises 20% on a Lower Discount Rate
  2. Oct 18, 2026InitiationStart of coverage (reader request)Lotte Chilsung Beverage: Thin Margins, Low Book Multiple and a Wide Model Range

Built only from jonbur's own data: prices and investor flows, filed financial statements and filings, and news headlines. Disclosed (filed) data is labelled as such. Written by AI and may contain mistakes.

This is not financial advice. The report does not recommend buying or selling anything.

Source: KRX statistical information