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Seoul Food (004410) Fair Value & Analysis

Consumer Defensive · KR · Market cap 39.8B KRW (≈ $27.8M) · ISIN KR7004410007

What is Seoul Food really worth?

SF Seoul Food 004410 · KO
Price1,241 KRW
Fair Value511.98 KRW
Upside−58.7%
Quality43/100

Below-average quality, and trading another 142% above our fair value of 511.98 KRW.

As of Aug 13, 2026, the fair value of Seoul Food is 511.98 KRW per share against a price of 1,241 KRW, so the fair value sits 59% below the price. A model estimate blended from multiple valuation models, recalculated regularly.

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Risks

!Expensive Growth (revenue 5y +2.2 %/yr)
!Thin margins · 1.9% net margin
!Low debt · negative free cash flow
!Trails peers (1/8)
!Narrow moat 21/100
!Evidence only low, so the estimate is less certain
!Weak on past: 11 out of 100
Evidence: Low Range 227.21 KRW – 796.75 KRW

Fair value as of: Aug 13, 2026

From 2 valuation models · updated 22 days ago

Share price +19.8% over the past month.

What runs behind every stock

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

What matters now

  • The price sits above even our optimistic bull case (796.75 KRW). The favourable scenario is already priced in.
  • Weak quality (43/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • The model range is unusually wide (227.21 KRW to 796.75 KRW). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.

Price vs Fair Value (5 years)

4,650 KRW 890.00 KRW Fair Value 511.98 KRW Mar 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range 890.00 KRW – 4,650 KRW · fair‑value band 227.21 KRW – 796.75 KRW · the 1,241 KRW price screens above the 511.98 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Seoul Food (004410) currently trades at 1,241 KRW, while our model-based Fair Value estimate is 511.98 KRW, implying the stock looks roughly 142.4% overvalued today. The Quality Score stands at 43/100 (below-average quality), in the Consumer Defensive sector. How firm this estimate is: it rests on 2 models at a data quality of 95/100, which puts the evidence level at low.

Over the trailing twelve months, Seoul Food generated revenue of 49.5B KRW at a net margin of 1.9%. Revenue declined 3.0% year over year. It earns a return on equity of 2.7%. Net debt stands at 24.5B KRW. Fundamentals as of Aug 13, 2026

Our scenario range runs from 227.21 KRW (bear case) to 796.75 KRW (bull case); at 1,241 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 56% below its 52-week high and 27% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at −27% fair-value upside, at −59%, 004410 screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

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
EV/EBITDA best evidence 905.50 KRW 1,190 KRW 1,475 KRW 67
NCAV (Graham) 343.18 KRW 459.86 KRW 686.36 KRW 54
All 2 models by family
Multiples
EV/EBITDA best evidence 905.50 KRW 1,190 KRW 1,475 KRW 67
Asset-Based
NCAV (Graham) 343.18 KRW 459.86 KRW 686.36 KRW 54

Widest divergence: Multiples (1,190 KRW) versus Asset-Based (459.86 KRW). Highest evidence: EV/EBITDA (67).

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Key figures & financial health

P/S ratio 0.83 TTM
Net margin −2.3% FY2025
Return on equity 2.7% TTM
Return on assets (EBIT) −1.2% avg 5y
Operating margin 0.3% TTM
Revenue (TTM) 49.5B KRW TTM
More key figures
Growth
Revenue growth (YoY) −3.0% 3y avg +2.2%
EPS growth (YoY) −77.6%
Balance sheet & cash flow
Free cash flow −1.7B KRW FY2025
Net debt 24.5B KRW FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 43/100

Of which business quality 40 · Market factors (momentum, volatility) 30

Profitability 23
Margins and returns on capital today
Quality Growth 75
Are margins and returns improving?
Cashflow 9
Earnings quality: real cash, not paper profit
Fin. Strength 28
Balance sheet, leverage, solvency risk
Investment 95
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 27
Price trend over the last 3–12 months (market factor)
52W Momentum 14
Distance to the 52-week high (market factor)
Net Issuance 50
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Seoul Food Industrial.Co.,Ltd engages in the manufacture and sale of food products in South Korea, Vietnam, and internationally. The company offers frozen doughs, bread crumbs, snacks, and pizzas. It also operates bakeries; and provides food waste recycling services.

Full company description

Seoul Food Industrial.Co.,Ltd engages in the manufacture and sale of food products in South Korea, Vietnam, and internationally. The company offers frozen doughs, bread crumbs, snacks, and pizzas. It also operates bakeries; and provides food waste recycling services. Seoul Food Industrial.Co.,Ltd was incorporated in 1955 and is headquartered in Chungju-si, South Korea.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Seoul Food reported revenue of 68.6B KRW in FY2025 versus 55.3B KRW in FY2021, a compound +5.5%/yr. Reported net income was −1.6B KRW in FY2025.

Growth Quality 30/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
68.6B KRW
Latest YoY
+17.1%
Avg. revenue 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.
+2.2%
Avg. revenue 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.
+2.2%
Avg. revenue growth/yr (14Y) 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%
EBIT 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.
1.2% (2020) → −0.6% (2025)
Value creation/yr 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
Revenue +5.5%/yr
FY21 55.3B KRW
FY22 64.3B KRW
FY23 64.8B KRW
FY24 58.6B KRW
FY25 68.6B KRW
Net income
FY21 −5.8B KRW
FY22 676M KRW
FY23 −573M KRW
FY24 −3.0B KRW
FY25 −1.6B KRW

004410 screens 142% overvalued. Compare with Nestlé S.A →

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Cite: Fair Value Calculator (2026). "Seoul Food Fair Value". https://www.fairvalue-calculator.com/stock/004410

Peer Group

Packaged Foods · 649 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 40 · Bottom 25%
Fair Value upside −59% · Bottom 25%
Return on equity (TTM) 3% · Below median
Return on assets 1% · Below median
Net margin (TTM) 2% · Below median
Operating margin (TTM) 0% · Bottom 25%
Revenue growth −3% · Bottom 25%
Debt / equity 0.04× · Lower than median

Strength profile in five axes (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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 26
FUTURE0 · sector 21
PAST11 · sector 28
HEALTH98 · sector 96
DIVIDEND0 · sector 54

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

Similar stocks

10 more Packaged Foods stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Nestlé S.A NESN CHF 78.62 CHF 57.26 −27%
Danone S.A BN €64.28 €48.41 −25%
Nestlé India Limited NESTLEIND ₹1,478 ₹251.94 −83%
The Kraft Heinz Company KHC $25.13 $24.59 −2%
Foshan Haitian Flavouring and Food Company 603288 ¥35.05 ¥21.93 −37%
Inner Mongolia Yili Industrial Group 600887 ¥25.51 ¥32.50 +27%
Yihai Kerry Arawana Holdings 300999 ¥25.28 ¥9.89 −61%
General Mills, Inc GIS $40.44 $28.32 −30%
Wilmar International Limited F34 3.64 SGD 3.89 SGD +7%
Britannia Industries Limited BRITANNIA ₹5,511 ₹1,765 −68%

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Frequently asked questions

Is Seoul Food (004410) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 511.98 KRW versus a price of 1,241 KRW, about −59% upside (overvalued).
What is the fair value of 004410?
Our model-based fair value for Seoul Food is 511.98 KRW (as of Aug 13, 2026), built from audited fundamentals. The current price: 1,241 KRW.
What is the quality score of 004410?
Seoul Food has a Quality Score of 43/100. 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 Seoul Food (004410)?
Seoul Food reported trailing-twelve-month revenue of about 49.5B KRW (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 004410?
The net profit margin of Seoul Food is about 1.9%, meaning it keeps roughly 1.9% of revenue as net income. Based on the latest reported figures.
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