Nongshim Holdings농심홀딩스
072710 · KOSPI · ₩072710 · 농심홀딩스
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
₩112,477
vs the current price (₩85,100)
- Assets before discount
- ₩869B
- Equity value
- ₩522B
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
- ₩74,984
- −11.9%
- Base
- ₩112,477
- +32.2%
- Bull
- ₩157,467
- +85.0%
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
- 4,637,790
- Share price
- ₩85,100
- Market cap
- ₩395B
Listed stakes
| Company | Stake | Market value |
|---|---|---|
| Nongshim | 32.7% | ₩772B |
| Youlchon Chemical | 31.9% | ₩97B |
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% | ₩119,975 | ₩104,978 | ₩89,981 | ₩74,984 | ₩59,988 |
| −10.0% | ₩134,972 | ₩118,101 | ₩101,229 | ₩84,358 | ₩67,486 |
| 0.0% | ₩149,969 | ₩131,223 | ₩112,477 | ₩93,731 | ₩74,984 |
| +10.0% | ₩164,966 | ₩144,345 | ₩123,724 | ₩103,104 | ₩82,483 |
| +20.0% | ₩179,963 | ₩157,467 | ₩134,972 | ₩112,477 | ₩89,981 |
Now (TTM)
- Market cap
- ₩395B
- Enterprise value
- ₩561B
- P/E
- 3.0×
- P/B
- 0.3×
- P/S
- 0.4×
- EV/EBITDA
- —
- Dividend yield
- 3.5%
Over time (at each year end)
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Price | ₩90,500 | ₩63,400 | ₩64,800 | ₩66,500 | ₩75,800 |
| Market cap | ₩420B | ₩294B | ₩301B | ₩308B | ₩352B |
| P/E | 3.7× | 3.9× | 4.5× | 9.0× | 7.2× |
| P/B | 0.3× | 0.2× | 0.3× | 0.3× | 0.3× |
| P/S | 0.5× | 0.4× | 0.4× | 0.5× | 0.5× |
| EV/EBITDA | — | — | — | — | — |
| Dividend yield | 3.3% | 3.9% | — | — | — |
Versus similar companies
| Company | P/E | P/B | P/S | EV/EBITDA | Dividend yield |
|---|---|---|---|---|---|
| Nongshim Holdings | 3.0× | 0.3× | 0.4× | — | 3.5% |
| 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: Nongshim Holdings / 농심홀딩스 / 072710 / KRX:072710
Source: KRX statistical information