SK DiscoverySK디스커버리
006120 · KOSPI · ₩006120 · SK디스커버리
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
₩64,231
vs the current price (₩59,000)
- Assets before discount
- ₩2T
- Equity value
- ₩1.2T
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
- ₩42,821
- −27.4%
- Base
- ₩64,231
- +8.9%
- Bull
- ₩89,924
- +52.4%
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
- 18,645,456
- incl. 1,231,705 preferred
- Share price
- ₩59,000
- Market cap
- ₩1.1T
Listed stakes
| Company | Stake | Market value |
|---|---|---|
| SK Gas | 72.1% | ₩1.7T |
| SK Chemicals | 40.8% | ₩293B |
| Huvis | 25.5% | ₩16B |
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% | ₩68,513 | ₩59,949 | ₩51,385 | ₩42,821 | ₩34,257 |
| −10.0% | ₩77,077 | ₩67,443 | ₩57,808 | ₩48,173 | ₩38,539 |
| 0.0% | ₩85,642 | ₩74,936 | ₩64,231 | ₩53,526 | ₩42,821 |
| +10.0% | ₩94,206 | ₩82,430 | ₩70,654 | ₩58,879 | ₩47,103 |
| +20.0% | ₩102,770 | ₩89,924 | ₩77,077 | ₩64,231 | ₩51,385 |
Now (TTM)
- Market cap
- ₩1T
- Enterprise value
- ₩1.9T
- P/E
- 5.5×
- P/B
- 0.3×
- P/S
- 0.1×
- EV/EBITDA
- —
- Dividend yield
- 3.4%
Over time (at each year end)
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Price | ₩57,800 | ₩38,800 | ₩39,200 | ₩30,250 | ₩46,400 |
| Market cap | ₩1T | ₩676B | ₩683B | ₩527B | ₩808B |
| P/E | 7.8× | 26.8× | 3.6× | 1.2× | 3.8× |
| P/B | 0.3× | 0.2× | 0.2× | 0.2× | 0.3× |
| P/S | 0.1× | 0.1× | 0.1× | 0.1× | 0.1× |
| EV/EBITDA | — | — | — | — | — |
| Dividend yield | 3.5% | 4.4% | — | — | — |
Versus similar companies
| Company | P/E | P/B | P/S | EV/EBITDA | Dividend yield |
|---|---|---|---|---|---|
| SK Discovery | 5.5× | 0.3× | 0.1× | — | 3.4% |
| SK Square | 3.8× | 2.3× | 102.1× | 3.7× | 0.0% |
| KB Financial Group | 8.9× | 0.9× | — | 9.6× | 2.8% |
| Shinhan Financial Group | 7.7× | 0.7× | — | 10.1× | 2.9% |
| SK | 4.8× | 1.0× | 0.3× | — | 1.5% |
| Hana Financial Group | 7.9× | 0.7× | — | 10.0× | 3.4% |
| Woori Financial Group | 7.1× | 0.6× | — | 8.5× | 4.4% |
| Similar companies (median) | 7.4× | 0.8× | 51.2× | 9.6× | 2.9% |
Calculated from end-of-day prices and filed financial statements. Not a recommendation. This is not financial advice.
Also known as: SK Discovery / SK디스커버리 / 006120 / KRX:006120
Source: KRX statistical information