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SK Innovation (096770) fair value: what the stock is really worth

As of Nov 5, 2026: fair value (intrinsic value) of SK Innovation stock KRW 134,361, price KRW 114,200, upside +17.7%, quality 21 out of 100. Rating: undervalued. Calculated from audited financials with 2 of our 26 valuation models and 37 quality factors, updated daily.

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Energy KR · ISIN KR7096770003

SI SK Innovation logo Thin data Nov 3, 2026

SK Innovation

096770 · KO
Speculative

The stock costs 15% less than our calculation considers fair.

Fair value 134,361 KRW · Undervalued (15%)
Revenue last quarter +50% vs. a year ago.
Expensive Growth (revenue 5y +18.6 %/yr in KRW)
Moderate debt
Mixed vs. peers (7/12)
Quality 21/100
Loss-making · -1.3% net margin (TTM)
Negative free cash flow
Narrow moat 24/100 · thin data
Thin data
⟳ Cyclical⚠ Dilution

Risks from the AI analysis

🚩Korean fuel price caps🚩Chinese petrochemical oversupply🚩EV-driven fuel demand decline
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

248,899 KRW 81,100 KRW Fair Value 134,361 KRW Nov 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 3, 2026.

How to read this chart

59‑month range 81,100 KRW – 248,899 KRW · fair‑value band 100,269 KRW – 200,539 KRW · the 114,200 KRW price screens below the 134,361 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 3, 2026.

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Company profile

SK Innovation Co., Ltd., together with its subsidiaries, engages in the development, production, and sale of petroleum, natural gas, petrochemical, lubricants, and base oil products. It operates in six segments: Petroleum and Petrochemicals, Lubricants, Battery and LiBS , E&P, E&S and Others.

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The company is also involved in insurance, power, district energy, renewable, city gas, LNG, manufacturing, trading, and oil exploration businesses; storage and sale of petroleum products; manufacturing of industrial gas and separator for secondary batteries; operating gas station and sports club; selling asphalt; issuance and redemption of floating securities; evaluation, certification, manufacturing, and selling of lithium battery; collection and disposal of waste batteries; invests in carbon capture and storage, as well as in equity; and installation of electric wire.

In addition, it provides business consulting, resource development, information and communication, transporting, and software development services. Further, the company offers energy solution; and operates in hydrogen industry.

It operates in South Korea, Asia, Europe, the United States, and internationally. The company was formerly known as SK Energy Co., Ltd. and changed its name to SK Innovation Co., Ltd. in January 2011. SK Innovation Co., Ltd. was founded in 1962 and is headquartered in Seoul, South Korea.

Stock analysis

SK Innovation (096770) currently trades at 114,200 KRW, while our model-based Fair Value estimate is 134,361 KRW, implying the stock looks roughly 15% undervalued today.

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Valuation

How firm this estimate is: it rests on 2 models at a data quality of 80/100, which puts the data coverage at low.

Scenario range: 100,269 KRW (bear) to 200,539 KRW (bull), the price of 114,200 KRW sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 21/100 (below-average quality), in the Energy sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

SK Innovation reported revenue of 80.3T KRW in FY2025 versus 46.8T KRW in FY2021, a compound +14.4%/yr. Reported net income was −3.3T KRW in FY2025.

Key figures

Market cap 19.0T KRW (≈ $13.9B) Large · P/S ratio 0.22 · EPS (TTM) −4,103 KRW · Dividend yield 3.4% · Net margin −1.3% · Return on equity −8.0% · Return on assets (EBIT) 2.5% · Operating margin 12.0%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 24 out of 100 (low confidence).

What moves the price

The share trades about 30% below its 52-week high and 28% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Energy peers we cover trades at −49% fair-value upside, at 18%, 096770 screens cheaper than that median.

Fair Value models

Bear 100,269 KRW Fair Value 134,361 KRW Bull 200,539 KRW
Price 114,200 KRW · Upside +17.7%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
EV/EBITDA n/a n/a 28,785 KRW 62
NCAV (Graham) 58,982 KRW 79,036 KRW 117,964 KRW 54
All 2 models by family
Multiples
EV/EBITDA n/a n/a 28,785 KRW 62
Asset-Based
NCAV (Graham) 58,982 KRW 79,036 KRW 117,964 KRW 54

The fair value above starts from this blend and is adjusted for a cyclical trough year.

Open the full fair value analysis →

Quality Score breakdown

Overall quality 21/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 14
How much profit the company makes from its sales and capital
Quality Growth 48
Are margins and returns getting better?
Cashflow 8
Do the profits arrive as real cash?
Financial strength 17
Debt, balance sheet and risk of trouble
Investment 58
Does it invest with discipline instead of growing at any price?
Low Volatility 15
How calm the share price moves, does not count
Price momentum 37
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 25
Distance to the 52-week high, does not count
New shares 0
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 44/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+8.1%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+0.9%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+18.6%
Start year 2020 (pandemic). Over 10 years: +5.2% a year
Revenue growth 18 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+7.9%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
2.5% (2019) → 0.5% (2024)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Oil & Gas Refining & Marketing · 116 stocks

Beats the industry median on 7/11 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 21 · Bottom 25%
Fair Value upside +17.7% · Above median
Profitability
Return on assets −3.2% · Bottom 25%
Net margin (12 months) −1.3% · Bottom 25%
Operating margin (12 months) 12.0% · Above median
Growth and dividend
Revenue growth (quarter YoY) 49.9% · Above median
Dividend yield (12 months) 3.4% · Above median
Balance sheet
Debt / equity 1.05× · Highest 25%

Valuation Multiplesvs Oil & Gas Refining & Marketing median · lower = cheaper

P/B 0.87× · Cheaper than median
P/S (12 months) 0.20× · Cheapest 25%
EV/EBITDA 2.9× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)57 · sector 29
FUTURE (revenue growth)100 · sector 100
PAST (return on equity)0 · sector 48
HEALTH (low debt)48 · sector 85
DIVIDEND (yield)67 · sector 65

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

Oil & gas

Similar stocks

10 more Oil & Gas Refining & Marketing stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Bharat Petroleum Corporation BPCL ₹317.10 ₹434.58 +37% vs 096770
Sunoco LP, SUN $64.67 $53.89 −17% vs 096770
Türkiye Petrol Rafinerileri A.S., TUPRS 331.75 TRY 244.26 TRY −26% vs 096770
Reliance Industries Limited RELIANCE ₹1,313 ₹865.31 −34% vs 096770
HF Sinclair Corporation DINO $104.57 $52.92 −49% vs 096770
Neste Oyj NESTE €27.57 €11.70 −58% vs 096770
Formosa Petrochemical Corporation 6505 87.90 TWD 35.53 TWD −60% vs 096770
Valero Energy Corporation VLO $365.34 $131.30 −64% vs 096770
Phillips 66 PSX $259.63 $86.38 −67% vs 096770
Marathon Petroleum Corporation MPC $392.68 $110.21 −72% vs 096770

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SK Innovation: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "SK Innovation Fair Value". https://www.fairvalue-calculator.com/stock/096770

Frequently asked questions

Is SK Innovation (096770) overvalued or undervalued?
As of Nov 3, 2026, our model estimates a fair value of 134,361 KRW versus a price of 114,200 KRW, about +18% upside (undervalued).
What is the fair value of 096770?
Our model-based fair value for SK Innovation is 134,361 KRW (as of Nov 3, 2026), built from audited fundamentals. The current price: 114,200 KRW.
What is the quality score of 096770?
SK Innovation has a Quality Score of 21/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for SK Innovation (096770)?
Our model-based price target is the fair value of 134,361 KRW (as of Nov 3, 2026) from 2 valuation models. Cautious scenario 100,269 KRW, optimistic scenario 200,539 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the SK Innovation stock forecast for 2026?
Our models put fair value at 134,361 KRW, about +18% upside versus a price of 114,200 KRW (undervalued). Cautious scenario 100,269 KRW, optimistic scenario 200,539 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of SK Innovation (096770)?
SK Innovation reported trailing-twelve-month revenue of about 93.1T KRW (latest available figure, as of Nov 3, 2026).
Does SK Innovation pay a dividend?
SK Innovation currently shows a dividend yield of 3.36% relative to its recent price (as of Nov 3, 2026).
What is the intrinsic value of SK Innovation (096770)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For SK Innovation it is 134,361 KRW per share (as of Nov 3, 2026), against a price of 114,200 KRW. It is the blended result of 2 valuation models (cash flow, earnings, asset, dividend).
Is SK Innovation stock overvalued or undervalued in 2026?
As of Nov 3, 2026, 096770 trades below its calculated fair value: price 114,200 KRW, fair value 134,361 KRW, a gap of about +18% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 096770?
No. The price is what the market pays today (114,200 KRW); the fair value is what the company's own numbers justify (134,361 KRW). For SK Innovation the two are 20,161 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is SK Innovation worth?
The market values SK Innovation at about 19.0T KRW (market capitalisation, as of Nov 3, 2026). Per share that is 114,200 KRW; our models calculate a fair value of 134,361 KRW per share.
What do the bullish and bearish scenarios say about 096770?
Our models span a range for SK Innovation: cautious scenario 100,269 KRW, base 134,361 KRW, optimistic 200,539 KRW per share (as of Nov 3, 2026, price 114,200 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of SK Innovation (096770)?
Balance-sheet figures for SK Innovation (as of Nov 3, 2026): return on equity −8.0%, debt of 1.05 per unit of equity. They feed the Quality Score of 21/100, which measures business quality independently of the share price.
How far is 096770 from its 52-week high?
SK Innovation trades at 114,200 KRW, about 30% below its 52-week high of 163,200 KRW and 28% above the low of 89,500 KRW (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of 134,361 KRW is for.
Which stocks are comparable to SK Innovation?
From the same area (Energy) we also value Reliance Industries Limited, Marathon Petroleum Corporation, Valero Energy Corporation, Phillips 66, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is SK Innovation stock attractive at the current price?
The data as of Nov 3, 2026: price 114,200 KRW, calculated fair value 134,361 KRW (+18%), Quality Score 21/100, from 2 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 096770 calculated?
We run SK Innovation through 2 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 134,361 KRW, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.5% above its aggregate fair value. SK Innovation currently trades 15% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of SK Innovation (096770)?
The closing price on Nov 5, 2026 was 114,200 KRW. Our model-based fair value is 134,361 KRW, about +18% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with SK Innovation right now?
A fairly wide model range (100,269 KRW to 200,539 KRW) leaves room in how you read the outcome. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Key figures of SK Innovation

How large is the market capitalisation of SK Innovation (096770)?
The market capitalisation of SK Innovation is 19.0T KRW (≈ $13.9B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of SK Innovation (096770)?
The price-to-sales ratio of SK Innovation is 0.22 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of SK Innovation (096770)?
Earnings per share at SK Innovation are −4,103 KRW. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of SK Innovation (096770)?
The dividend yield of SK Innovation is 3.4%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of SK Innovation (096770)?
The net margin of SK Innovation is −1.3% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of SK Innovation (096770)?
The return on equity (ROE) of SK Innovation is −8.0% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of SK Innovation (096770)?
On an EBIT basis the return on assets of SK Innovation is 2.5% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of SK Innovation (096770)?
The operating margin of SK Innovation is 12.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at SK Innovation (096770)?
Revenue at SK Innovation is growing +49.9% versus a year earlier (3y avg +0.9%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at SK Innovation (096770)?
Earnings per share at SK Innovation are growing +770% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does SK Innovation (096770) generate?
The free cash flow of SK Innovation is −3.4T KRW (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does SK Innovation (096770) carry?
The net debt of SK Innovation is 22.8T KRW (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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