SK Square: Profit Surges on Holding-Company Gains While Shares Pull Back From 52-Week High

Thesis

The data supports a picture of a holding company whose reported earnings are dominated by non-revenue items. Trailing operating income of ₩33.3T is far larger than trailing revenue of ₩1.2T, giving margins above 2,600%. That pattern suggests profit is driven by gains outside normal sales, such as investment valuation gains, but the data does not itemize the source, so this cannot be confirmed here.

The low P/E of 4.0x rests on that profit, which has moved sharply from a ₩1.3T net loss in 2023 to ₩8.8T in 2025 and ₩32.8T over the trailing period. Whether such earnings repeat is not answerable from the data. Price to sales of 105.9x shows how little the revenue line explains the valuation. Investor flow, foreign ownership and short balance data are not available, so the data cannot show who is driving recent price moves.

Business overview

SK Square is listed on KOSPI in the holding companies sector. It was founded on 2021-11-02 and listed on 2021-11-29, with 132,540,858 shares outstanding. At a close of ₩984,000 on 2026-10-12, market capitalization is about ₩130.4T and enterprise value about ₩129.1T. Revenue has declined each year in the data, from ₩2.3T in 2023 to ₩1.9T in 2024 (-16.2%) and ₩1.4T in 2025 (-26.0%). The 52-week range runs from ₩229,500 to ₩2,189,000. The CEO is listed as 김정규. No news headlines are available in the data.

Model estimate of fair value

The valuation model has no estimate for this company yet (not enough data, or no positive value with the base case).

Report history

1. Oct 29, 2026Update noteNewsSK Square Reported to Seek Sale of Control in T map Mobility to Focus on AI and Semiconductors
2. Oct 13, 2026InitiationSK Square: Profit Surges on Holding-Company Gains While Shares Pull Back From 52-Week High