SeAH Steel Holdings세아제강지주
003030 · KOSPI · ₩003030 · 세아제강지주
Valuation model · Sum of the parts (net asset value)
This is a holding company, so we value what it owns: its stakes in listed companies at market value, less a holding company discount.
Fair value per share
₩24,747
vs the current price (₩95,700)
- Assets before discount
- ₩171B
- Equity value
- ₩102B
Model estimate based on the assumptions shown. Not a price target and not a buy or sell signal. This is not financial advice.
Bear / Base / Bull
- Bear
- ₩16,498
- −82.8%
- Base
- ₩24,747
- −74.1%
- Bull
- ₩34,646
- −63.8%
Bear: listed stakes 20% lower and a discount 10 points wider. Bull: the opposite.
Assumptions
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Business
- 0%
Moves the market value of the listed companies it owns up or down.
Default: 0, today's market values.
- ₩0B
Anything else it owns, minus its own debt, in ₩ billions.
Default: 0. Unlisted holdings and the company's own cash and debt aren't included unless you add them.
Discount rate
- 40%
How far below the value of its holdings the company is valued.
Default: a typical discount for Korean holding companies.
Starting point
- Shares
- 4,141,657
- Share price
- ₩95,700
- Market cap
- ₩396B
Listed stakes
| Company | Stake | Market value |
|---|---|---|
| SeAH Steel | 50.1% | ₩170B |
| HJ Shipbuilding & Construction | 0.1% | ₩554M |
Sensitivity
Fair value per share as two inputs change; the middle is the current case.
| Listed stakes ↓ · Discount → | 20.0% | 30.0% | 40.0% | 50.0% | 60.0% |
|---|---|---|---|---|---|
| −20.0% | ₩26,397 | ₩23,097 | ₩19,797 | ₩16,498 | ₩13,198 |
| −10.0% | ₩29,696 | ₩25,984 | ₩22,272 | ₩18,560 | ₩14,848 |
| 0.0% | ₩32,996 | ₩28,871 | ₩24,747 | ₩20,622 | ₩16,498 |
| +10.0% | ₩36,295 | ₩31,758 | ₩27,222 | ₩22,685 | ₩18,148 |
| +20.0% | ₩39,595 | ₩34,646 | ₩29,696 | ₩24,747 | ₩19,797 |
Now (TTM)
- Market cap
- ₩396B
- Enterprise value
- ₩2.5T
- P/E
- —
- P/B
- 0.2×
- P/S
- 0.1×
- EV/EBITDA
- —
- Dividend yield
- 1.9%
Over time (at each year end)
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Price | ₩128,100 | ₩180,500 | ₩240,000 | ₩146,500 | ₩103,000 |
| Market cap | ₩531B | ₩748B | ₩994B | ₩607B | ₩427B |
| P/E | 8.4× | 17.5× | 3.3× | 2.0× | 1.9× |
| P/B | 0.3× | 0.4× | 0.6× | 0.4× | 0.4× |
| P/S | 0.1× | 0.2× | 0.3× | 0.2× | 0.2× |
| EV/EBITDA | — | — | — | — | — |
| Dividend yield | 1.4% | 1.0% | — | — | — |
Versus similar companies
| Company | P/E | P/B | P/S | EV/EBITDA | Dividend yield |
|---|---|---|---|---|---|
| SeAH Steel Holdings | — | 0.2× | 0.1× | — | 1.9% |
| SK Square | 3.3× | 2.0× | 88.7× | 3.2× | 0.0% |
| KB Financial Group | 8.3× | 0.9× | — | 9.3× | 3.0% |
| Shinhan Financial Group | 7.5× | 0.7× | — | 10.0× | 3.0% |
| SK | 4.5× | 1.0× | 0.3× | — | 1.6% |
| Hana Financial Group | 7.5× | 0.7× | — | 9.8× | 3.6% |
| Woori Financial Group | 6.7× | 0.5× | — | 8.2× | 4.7% |
| Similar companies (median) | 7.1× | 0.8× | 44.5× | 9.3× | 3.0% |
Calculated from end-of-day prices and filed financial statements. Not a recommendation. This is not financial advice.
Also known as: SeAH Steel Holdings / 세아제강지주 / 003030 / KRX:003030
Source: KRX statistical information