Sam Jung Pulp (009770) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Sam Jung Pulp stock KRW 20,806, price KRW 25,200, that is 17.4% below the price, quality 49 out of 100. Rating: overvalued. Calculated from audited financials with 21 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 5, 2026.
How to read this chart
60‑month range 20,556 KRW – 36,450 KRW · fair‑value band 15,605 KRW – 26,008 KRW · the 25,200 KRW price screens above the 20,806 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Nov 5, 2026.
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Sam Jung Pulp Co.,Ltd. manufactures and sells toilet paper, sanitary paper, and other papers in South Korea. It offers tissue paper, beauty tissue, kitchen towels, wet tissue, hand towel, and mask. The company was founded in 1948 and is headquartered in PPyeongtaek-si, South Korea.
Stock analysis
Sam Jung Pulp (009770) currently trades at 25,200 KRW, while our model-based Fair Value estimate is 20,806 KRW, 17% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 162,932 KRW per share, and 15 of the 21 models we run sit above the 25,200 KRW price.
Bear case: the Dividend Discount group reads lowest at 10,942 KRW, and 6 of the 21 models stay below the price. Data coverage for this calculation is medium.
Scenario range: 15,605 KRW (bear) to 26,008 KRW (bull), the price of 25,200 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 49/100 (below-average quality), in the Basic Materials sector.
Weak Growth: Revenue growth is weak: less than 2 % a year.
Sam Jung Pulp reported revenue of 149B KRW in FY2025 versus 138B KRW in FY2021, a compound +1.8%/yr. Reported net income was 31.4B KRW in FY2025, compounding +42.5%/yr from FY2021.
Key figures
Market cap 63.0B KRW (≈ $46.6M) Micro · P/E ratio 53.4 · P/S ratio 0.44 · EPS (TTM) 484.35 KRW · Dividend yield 4.0% · Net margin 0.8% · Return on equity 0.7% · Return on assets (EBIT) 1.3% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 30 out of 100 (medium confidence).
What moves the price
The share trades about 31% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at 22% fair-value upside, at −17%, 009770 screens richer than that median.
Fair Value models
Bear15,605 KRWFair Value 20,806 KRWBull26,008 KRW
Price 25,200 KRW · Downside -17.4%
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.
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.24/100
Revenue growth is weak: less than 2 % a year.
Revenue growth 1 year
−9.3%
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.
−5.2%
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.
+0.3%
Start year 2020 (pandemic). Over 10 years: −0.2% a year
Revenue growth 15 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.
+0.3%
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What shareholders gained per year (last 5 years), in KRW ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in KRW: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+36.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+32.8%
Dividend (yield on the price)4.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.32.8% vs 5.0%, picking up
Profit margin 2020 to 2025 ⓘ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.9% → −1%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Price in line with expectations
The price assumes about as much growth as the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−0.8%
The company could shrink this much every year for the next five years and today's price would still be justified.
What forecasts expect
n/a
No analyst forecast available.
After inflation (South Korea: IMF forecast 2.1% a year to 2030, 2.1% from 2016 to 2025) that is about −2.8% a year for the price.
Price, fair value, quality and upside side by side.
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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.Paper & Paper Products · 116 stocks
Beats the industry median on 8/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score49 · Above median
Fair Value upside−17.4% · Below median
Profitability
Return on equity (12 months)0.7% · Bottom 25%
Return on assets9.7% · Top 25%
Net margin (12 months)0.8% · Below median
Operating margin (12 months)6.8% · Above median
Growth and dividend
Revenue growth (quarter YoY)8.7% · Above median
Dividend yield (12 months)4.0% · Top 25%
Valuation Multiplesvs Paper & Paper Products median · lower = cheaper
P/E (12 months)53.4× · Priciest 25%
P/B0.22× · Cheapest 25%
P/S (12 months)0.44× · Cheaper than median
Price / free cash flow (fiscal year)20.1× · Pricier than median
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Is Sam Jung Pulp (009770) overvalued or undervalued?
As of Nov 5, 2026, our model estimates a fair value of 20,806 KRW versus a price of 25,200 KRW, about 17% lower (overvalued).
What is the fair value of 009770?
Our model-based fair value for Sam Jung Pulp is 20,806 KRW (as of Nov 5, 2026), built from audited fundamentals. The current price: 25,200 KRW.
What is the quality score of 009770?
Sam Jung Pulp has a Quality Score of 49/100. 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 Sam Jung Pulp (009770)?
Our model-based price target is the fair value of 20,806 KRW (as of Nov 5, 2026) from 21 valuation models. Cautious scenario 15,605 KRW, optimistic scenario 26,008 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Sam Jung Pulp stock forecast for 2026?
Our models put fair value at 20,806 KRW, about 17% lower versus a price of 25,200 KRW (overvalued). Cautious scenario 15,605 KRW, optimistic scenario 26,008 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Sam Jung Pulp (009770)?
Sam Jung Pulp reported trailing-twelve-month revenue of about 145B KRW (latest available figure, as of Nov 5, 2026).
Does Sam Jung Pulp pay a dividend?
Sam Jung Pulp currently shows a dividend yield of 3.97% relative to its recent price (as of Nov 5, 2026).
How much is the dividend of Sam Jung Pulp (009770) and when is the ex-dividend date?
Sam Jung Pulp pays a dividend of 1,000 KRW per share a year, a dividend yield of 4.0%. The last ex-dividend date was Dec 29, 2025. A dividend has been paid every year since 2020. Free cash flow covers the dividend 1.26 times. Our assessment: Sustainable. Payout and cash coverage both look sustainable.
What growth is priced into Sam Jung Pulp (009770)?
For today's price to be fair in a discounted-cash-flow model, Sam Jung Pulp would have to grow free cash flow by -0.8 % per year for five years (discount rate 8.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +0.3 % per year. As of Nov 5, 2026.
What discount rate (WACC) does the fair value of 009770 use?
Our models discount Sam Jung Pulp at 8.9 %: a base by market capitalisation (nano), damped by beta 0.41, country premium for South Korea. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Sam Jung Pulp that is -0.8 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (8.9 %) and the same formula as our fair value.
How much growth has Sam Jung Pulp (009770) delivered so far?
Over the past 5 years revenue at Sam Jung Pulp grew +0.3 % a year. The price currently implies free-cash-flow growth of -0.8 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Sam Jung Pulp (009770) growing?
The median revenue growth in the sector is +9.8 % a year. That is the yardstick for the growth priced into Sam Jung Pulp (-0.8 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Sam Jung Pulp (009770)?
The free-cash-flow yield on the price is 4.98 %: that much free cash flow Sam Jung Pulp produces per unit of market value. When it exceeds the discount rate of our models (8.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Sam Jung Pulp (009770)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Sam Jung Pulp it is 20,806 KRW per share (as of Nov 5, 2026), against a price of 25,200 KRW. It is the blended result of 21 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Sam Jung Pulp stock overvalued or undervalued in 2026?
As of Nov 5, 2026, 009770 trades above its calculated fair value: price 25,200 KRW, fair value 20,806 KRW, a gap of about −17% (overvalued). 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 009770?
No. The price is what the market pays today (25,200 KRW); the fair value is what the company's own numbers justify (20,806 KRW). For Sam Jung Pulp the two are 4,394 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Sam Jung Pulp worth?
The market values Sam Jung Pulp at about 63.0B KRW (market capitalisation, as of Nov 5, 2026). Per share that is 25,200 KRW; our models calculate a fair value of 20,806 KRW per share.
What do the bullish and bearish scenarios say about 009770?
Our models span a range for Sam Jung Pulp: cautious scenario 15,605 KRW, base 20,806 KRW, optimistic 26,008 KRW per share (as of Nov 5, 2026, price 25,200 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 009770?
Sam Jung Pulp trades at a price-to-earnings ratio of 53.4 (as of Nov 5, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 20,806 KRW is built from several models across several years. Median P/E at fiscal year-end, 8 fiscal years (2016 to 2025), reported earnings: 5.3. Other multiples: P/B 0.2, P/S 0.4, EV/EBITDA 5.0.
How solid is the balance sheet of Sam Jung Pulp (009770)?
Balance-sheet figures for Sam Jung Pulp (as of Nov 5, 2026): return on equity 0.7%. They feed the Quality Score of 49/100, which measures business quality independently of the share price.
How far is 009770 from its 52-week high?
Sam Jung Pulp trades at 25,200 KRW, about 31% below its 52-week high of 36,450 KRW and at the low of 25,200 KRW (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 20,806 KRW is for.
Which stocks are comparable to Sam Jung Pulp?
From the same area (Basic Materials) we also value UPM-Kymmene Oyj, Suzano S.A, Shandong Sunpaper Co, Nine Dragons Paper (Holdings) Limited, 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 Sam Jung Pulp stock attractive at the current price?
The data as of Nov 5, 2026: price 25,200 KRW, calculated fair value 20,806 KRW (−17%), Quality Score 49/100, from 21 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 009770 calculated?
We run Sam Jung Pulp through 21 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 20,806 KRW builds on their evidence-weighted average, 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 13.3% above its aggregate fair value. Sam Jung Pulp itself currently trades above fair value. 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 Sam Jung Pulp (009770)?
The closing price on Nov 6, 2026 was 25,200 KRW. Our model-based fair value is 20,806 KRW, about 17% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Sam Jung Pulp right now?
Weak quality (49/100) and above fair value at the same time, the margin of safety is missing on both counts. The price sits in the upper half of our model range, so the margin of safety is thin. Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.
Key figures of Sam Jung Pulp
How large is the market capitalisation of Sam Jung Pulp (009770)?
The market capitalisation of Sam Jung Pulp is 63.0B KRW (≈ $46.6M). 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 Sam Jung Pulp (009770)?
The price-to-sales ratio of Sam Jung Pulp is 0.44 (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 Sam Jung Pulp (009770)?
Earnings per share at Sam Jung Pulp are 484.35 KRW (price ÷ EPS = P/E 53.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Sam Jung Pulp (009770)?
The dividend yield of Sam Jung Pulp is 4.0%. 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 Sam Jung Pulp (009770)?
The net margin of Sam Jung Pulp is 0.8% (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 Sam Jung Pulp (009770)?
The return on equity (ROE) of Sam Jung Pulp is 0.7% (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 Sam Jung Pulp (009770)?
On an EBIT basis the return on assets of Sam Jung Pulp is 1.3% (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 Sam Jung Pulp (009770)?
The operating margin of Sam Jung Pulp is 6.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Sam Jung Pulp (009770)?
Revenue at Sam Jung Pulp is growing +8.7% versus a year earlier (3y avg −5.2%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
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Nov 5, 2026