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SG Corporation (004060) Fair Value & Analysis

Consumer Cyclical · KR · Market cap 47.8B KRW

SC SG Corporation 004060 · KO
Price2,760 KRW
Fair Value759.42 KRW
Upside-72.5%
Quality56/100
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Weak Growth
Thin margins · 2.9% net margin
Low debt · generates free cash flow
Trails peers (2/10)
Narrow moat 17/100
Evidence: High Range 569.56 KRW – 949.27 KRW Share as image

Fair value as of: Jul 24, 2026

From 19 valuation models · updated 17 days ago

Share price +9.7% over the past month.

A solid business, but screening 72% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (949.27 KRW). The favourable scenario is already priced in.
  • Solid but not exceptional quality (56/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

9,210 KRW 2,235 KRW Fair Value 759.42 KRW Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 24, 2026.

How to read this chart

60‑month range 2,235 KRW – 9,210 KRW · fair‑value band 569.56 KRW – 949.27 KRW · the 2,760 KRW price screens above the 759.42 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 24, 2026.

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Analysis

SG Corporation (004060) currently trades at 2,760 KRW, while our model-based Fair Value estimate is 759.42 KRW, implying the stock looks roughly 72.5% overvalued today. The Quality Score stands at 56/100 (solid quality), in the Consumer Cyclical sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, SG Corporation generated revenue of 126B KRW at a net margin of 2.9%. Revenue declined 17.8% year over year. It earns a return on equity of 1.4%. Net debt stands at 14.6B KRW. Fundamentals as of Jul 24, 2026

Our scenario range runs from 569.56 KRW (bear case) to 949.27 KRW (bull case); at 2,760 KRW, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 69% below its 52-week high and 6% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -3% fair-value upside, at -72%, 004060 screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model 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. Evidence
Highest evidence
Growth DCF 595.78 KRW 1,066 KRW 1,871 KRW 80
Rev-Margin DCF 430.86 KRW 969.18 KRW 1,630 KRW 74
Growth-Adj P/E 519.58 KRW 742.26 KRW 964.94 KRW 68
All 19 models by family
DCF Models
FCF DCF 538.30 KRW 1,023 KRW 1,921 KRW 38
Owner Earnings 854.84 KRW 1,464 KRW 2,592 KRW 31
5Y Revenue Exit 430.86 KRW 940.22 KRW 1,680 KRW 39
5Y EBITDA Exit 164.06 KRW 478.32 KRW 894.94 KRW 41
5Y P/E Exit 166.94 KRW 483.31 KRW 863.95 KRW 38
10Y Revenue Exit 432.97 KRW 816.71 KRW 1,227 KRW 36
10Y EBITDA Exit 301.46 KRW 531.08 KRW 766.15 KRW 37
10Y P/E Exit 303.21 KRW 534.16 KRW 747.96 KRW 35
Earnings-Based
Graham-Dodd 303.77 KRW 371.27 KRW 417.68 KRW 54
Multiples
P/E Multiple 737.08 KRW 982.77 KRW 1,228 KRW 63
P/S Multiple 569.56 KRW 759.42 KRW 949.27 KRW 58
P/B Multiple 569.56 KRW 759.42 KRW 949.27 KRW 55
EV/EBITDA 35.26 KRW 279.13 KRW 522.99 KRW 54
EV/Revenue 459.82 KRW 955.32 KRW 1,451 KRW 43
Asset-Based
NCAV (Graham) 6,595 KRW 8,838 KRW 13,190 KRW 50
Growth DCF
Growth DCF 595.78 KRW 1,066 KRW 1,871 KRW 80
Rev-Margin DCF 430.86 KRW 969.18 KRW 1,630 KRW 74
Economic Profit
Residual Income 8,828 KRW 8,059 KRW 5,578 KRW 61
Growth Earnings
Growth-Adj P/E 519.58 KRW 742.26 KRW 964.94 KRW 68

Widest divergence: Asset-Based (8,838 KRW) versus Earnings-Based (371.27 KRW). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 126B KRW
Revenue growth (YoY) -17.8%
Net margin 2.9%
Return on equity 1.4%
Free cash flow 2.5B KRW FY2025
Operating margin -6.8%
More key figures
EPS growth (YoY) +1,400%
Net debt 14.6B KRW FY2023

Figures from reported company fundamentals · as of Jul 24, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 56/100

Of which business quality 56 · Market factors (momentum, volatility) 17

Profitability 23
Margins and returns on capital today
Quality Growth 27
Are margins and returns improving?
Cashflow 53
Earnings quality: real cash, not paper profit
Fin. Strength 67
Balance sheet, leverage, solvency risk
Investment 97
Disciplined investing over empire-building
Low Volatility 40
Calm price path (market factor)
Momentum 5
Price trend over the last 3–12 months (market factor)
52W Momentum 10
Distance to the 52-week high (market factor)
Net Issuance 92
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

SG Corporation, a fashion company, produces and sells woven garments primarily in South Korea. It offers formal dresses, casual wear, outer wear, and jackets. The company sells garments for women under the ab.f.z and ab.plus brands; and garments for men under the BASSO and BASSO hommes brands. It exports its products.

Full company description

SG Corporation, a fashion company, produces and sells woven garments primarily in South Korea. It offers formal dresses, casual wear, outer wear, and jackets. The company sells garments for women under the ab.f.z and ab.plus brands; and garments for men under the BASSO and BASSO hommes brands. It exports its products. The company was formerly known as SGWICUS Corporation and changed its name to SG Corporation in March 2010. SG Corporation was founded in 1964 and is headquartered in Seoul, South Korea.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

SG Corporation reported revenue of 132B KRW in FY2025 versus 136B KRW in FY2021, a compound −0.6%/yr. Reported net income was 884M KRW in FY2025, compounding −63.0%/yr from FY2021.

Growth Quality 33/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
132B KRW
Latest YoY
−4.6%
Avg. growth/yr (3Y) 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.
−6.4%
Avg. growth/yr (5Y) 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.
−4.6%
Avg. growth/yr (26Y) 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.
−3.6%
Revenue −0.6%/yr
FY21 136B KRW
FY22 161B KRW
FY23 143B KRW
FY24 139B KRW
FY25 132B KRW
Net income −63.0%/yr
FY21 47.0B KRW
FY22 1.8B KRW
FY23 −1.0B KRW
FY24 5.4B KRW
FY25 884M KRW

004060 screens 72% overvalued. Compare with H & M Hennes & Mauritz AB →

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Cite: Fair Value Calculator (2026). "SG Corporation Fair Value". https://www.fairvalue-calculator.com/stock/004060

Peer Group

Apparel Manufacturing · 212 stocks

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.

Quality Score 56 · Above median
Fair Value upside −73% · Bottom 25%
Return on equity (TTM) 1% · Below median
Return on assets -1% · Bottom 25%
Net margin (TTM) 3% · Below median
Operating margin (TTM) -7% · Bottom 25%
Revenue growth -18% · Bottom 25%
Debt / equity 0.14× · Higher than median

Valuation Multiples vs Apparel Manufacturing median · lower = cheaper

P/FCF 0.0× · Cheaper than 75% of peers
EV/EBITDA 30.5× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 32
FUTURE 0 · sector 4
PAST 6 · sector 21
HEALTH 93 · sector 98
DIVIDEND 0 · sector 49

VALUE 0: the price sits above our fair-value range.

Values & ESG

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

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Apparel Manufacturing stocks, each showing price versus our Fair Value estimate (as of Jul 24, 2026).

Stock Price Fair Value vs Fair Value
H & M Hennes & Mauritz AB HMB kr 163.45 kr 165.47 +1%
Ralph Lauren Corporation RL $374.08 $224.21 -40%
Moncler S.p.A MONC €52.08 €50.69 -3%
Gildan Activewear Inc GIL C$73.17 C$32.85 -55%
LPP SA LPP 19,380 PLN 17,754 PLN -8%
Bosideng International Holdings 3998 HK$4.88 HK$5.92 +21%
Youngor Fashion Co 600177 ¥7.57 ¥5.59 -26%
Page Industries Limited PAGEIND ₹39,900 ₹12,395 -69%
Hla Group 600398 ¥6.05 ¥9.92 +64%
Eclat Textile Co 1476 333.50 TWD 357.81 TWD +7%

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Frequently asked questions

Is SG Corporation (004060) overvalued or undervalued?
As of Jul 24, 2026, our model estimates a fair value of 759.42 KRW versus a price of 2,760 KRW, about −72% (overvalued).
What is the fair value of 004060?
Our model-based fair value for SG Corporation is 759.42 KRW (as of Jul 24, 2026), built from audited fundamentals. The current price is 2,760 KRW.
What is the quality score of 004060?
SG Corporation has a Quality Score of 56/100. 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 revenue of SG Corporation (004060)?
SG Corporation reported trailing-twelve-month revenue of about 126B KRW (latest available figure, as of Jul 24, 2026).
What is the net profit margin of 004060?
The net profit margin of SG Corporation is about 2.9%, meaning it keeps roughly 2.9% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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