Lotte롯데지주
004990 · KOSPI · ₩004990 · 롯데지주
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
₩8,753
vs the current price (₩21,100)
- Assets before discount
- ₩1.5T
- Equity value
- ₩879B
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
- ₩5,836
- −72.3%
- Base
- ₩8,753
- −58.5%
- Bull
- ₩12,255
- −41.9%
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
- 100,469,379
- incl. 805,603 preferred
- Share price
- ₩21,100
- Market cap
- ₩2.1T
Listed stakes
| Company | Stake | Market value |
|---|---|---|
| Lotte Shopping | 40.0% | ₩920B |
| Lotte Chemical | 25.3% | ₩507B |
| Innocean Worldwide | 5.2% | ₩36B |
| Hyundai G.F. Holdings | 0.1% | ₩2.8B |
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% | ₩9,337 | ₩8,170 | ₩7,003 | ₩5,836 | ₩4,668 |
| −10.0% | ₩10,504 | ₩9,191 | ₩7,878 | ₩6,565 | ₩5,252 |
| 0.0% | ₩11,671 | ₩10,212 | ₩8,753 | ₩7,295 | ₩5,836 |
| +10.0% | ₩12,838 | ₩11,234 | ₩9,629 | ₩8,024 | ₩6,419 |
| +20.0% | ₩14,005 | ₩12,255 | ₩10,504 | ₩8,753 | ₩7,003 |
Now (TTM)
- Market cap
- ₩2.1T
- Enterprise value
- ₩9.5T
- P/E
- —
- P/B
- 0.3×
- P/S
- 0.1×
- EV/EBITDA
- —
- Dividend yield
- 5.9%
Over time (at each year end)
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Price | ₩26,450 | ₩21,800 | ₩27,050 | ₩30,800 | ₩29,900 |
| Market cap | ₩2.6T | ₩2.2T | ₩2.7T | ₩3.1T | ₩3T |
| P/E | — | — | — | 18.0× | 9.7× |
| P/B | 0.4× | 0.3× | 0.4× | 0.4× | 0.4× |
| P/S | 0.2× | 0.1× | 0.2× | 0.2× | 0.3× |
| EV/EBITDA | — | — | — | — | — |
| Dividend yield | 4.7% | 5.5% | — | — | — |
Versus similar companies
| Company | P/E | P/B | P/S | EV/EBITDA | Dividend yield |
|---|---|---|---|---|---|
| Lotte | — | 0.3× | 0.1× | — | 5.9% |
| 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: Lotte / 롯데지주 / 004990 / KRX:004990
Source: KRX statistical information