KEC Holdings한국전자홀딩스
006200 · KOSPI · ₩006200 · 한국전자홀딩스
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
₩1,992
vs the current price (₩1,419)
- Assets before discount
- ₩31B
- Equity value
- ₩18B
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
- ₩1,328
- −6.4%
- Base
- ₩1,992
- +40.4%
- Bull
- ₩2,789
- +96.5%
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
- 9,197,710
- Share price
- ₩1,419
- Market cap
- ₩13B
Listed stakes
| Company | Stake | Market value |
|---|---|---|
| KEC | 29.6% | ₩31B |
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% | ₩2,125 | ₩1,859 | ₩1,594 | ₩1,328 | ₩1,062 |
| −10.0% | ₩2,390 | ₩2,091 | ₩1,793 | ₩1,494 | ₩1,195 |
| 0.0% | ₩2,656 | ₩2,324 | ₩1,992 | ₩1,660 | ₩1,328 |
| +10.0% | ₩2,921 | ₩2,556 | ₩2,191 | ₩1,826 | ₩1,461 |
| +20.0% | ₩3,187 | ₩2,789 | ₩2,390 | ₩1,992 | ₩1,594 |
Now (TTM)
- Market cap
- ₩13B
- Enterprise value
- ₩35B
- P/E
- —
- P/B
- 0.1×
- P/S
- 0.0×
- EV/EBITDA
- 15.3×
- Dividend yield
- 7.0%
Over time (at each year end)
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Price | ₩3,250 | ₩3,470 | ₩4,550 | ₩5,000 | ₩10,900 |
| Market cap | ₩30B | ₩32B | ₩42B | ₩46B | ₩100B |
| P/E | — | 6.5× | — | 1.5× | 3.4× |
| P/B | 0.2× | 0.2× | 0.3× | 0.3× | 0.8× |
| P/S | 0.1× | 0.1× | 0.2× | 0.1× | 0.3× |
| EV/EBITDA | 28.9× | 3.0× | — | 0.8× | 1.4× |
| Dividend yield | 3.1% | 2.9% | — | — | — |
Versus similar companies
| Company | P/E | P/B | P/S | EV/EBITDA | Dividend yield |
|---|---|---|---|---|---|
| KEC Holdings | — | 0.1× | 0.0× | 15.3× | 7.0% |
| 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: KEC Holdings / 한국전자홀딩스 / 006200 / KRX:006200
Source: KRX statistical information