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E1 Corporation (017940) Fair Value & Analysis

Energy · KR · Market cap 531B KRW

EC E1 Corporation 017940 · KO
Price86,000 KRW
Fair Value206,733 KRW
Upside+140.4%
Quality38/100
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Mixed Growth
Thin margins · 1.0% net margin
Moderate debt · generates free cash flow
5.23% dividend yield
Trails peers (4/11)
Narrow moat 25/100
Evidence: Medium Range 155,050 KRW – 258,417 KRW Share as image

Fair value as of: Aug 13, 2026

From 26 valuation models · updated today

Fair value updated Aug 13, 2026, revised from 308,113 KRW to 206,733 KRW (−32.9%) since Jul 24, 2026. Share price +2.1% over the past month.

Below-average quality, screening 140% undervalued on our models.

What matters now

  • The large discount to fair value meets weak quality (38/100). That raises the risk this is a value trap rather than a bargain.
  • The price is below even our cautious bear case (155,050 KRW). The market is more pessimistic than our downside scenario.
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Price vs Fair Value (5 years)

108,400 KRW 30,749 KRW Fair Value 206,733 KRW Mar 2021 Aug 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 30,749 KRW – 108,400 KRW · fair‑value band 155,050 KRW – 258,417 KRW · the 86,000 KRW price screens below the 206,733 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

E1 Corporation (017940) currently trades at 86,000 KRW, while our model-based Fair Value estimate is 206,733 KRW, implying the stock looks roughly 140.4% undervalued today. The Quality Score stands at 38/100 (below-average quality), in the Energy sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.

Over the trailing twelve months, E1 Corporation generated revenue of 11.2T KRW at a net margin of 1.0%. Revenue grew 29.6% year over year. It earns a return on equity of 5.4%. Net debt stands at 6.7T KRW. Fundamentals as of Aug 13, 2026

Our scenario range runs from 155,050 KRW (bear case) to 258,417 KRW (bull case); at 86,000 KRW, the current price sits below 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 22% below its 52-week high and 26% above its 52-week low, currently below its 200-day average. For context, the median of 10 Energy peers we cover trades at -56% fair-value upside, at 140%, 017940 screens cheaper 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 359,450 KRW 626,052 KRW 1,018,679 KRW 80
Residual Income 273,950 KRW 279,910 KRW 276,301 KRW 76
Rev-Margin DCF 313,833 KRW 606,469 KRW 931,803 KRW 74
All 26 models by family
DCF Models
FCF DCF 344,617 KRW 636,475 KRW 1,089,215 KRW 38
Owner Earnings 160,522 KRW 353,709 KRW 653,387 KRW 31
5Y Revenue Exit 313,833 KRW 603,698 KRW 966,798 KRW 39
5Y EBITDA Exit 219,443 KRW 431,375 KRW 670,227 KRW 41
5Y P/E Exit 96,807 KRW 207,482 KRW 317,395 KRW 38
10Y Revenue Exit 303,604 KRW 572,095 KRW 918,186 KRW 36
10Y EBITDA Exit 258,930 KRW 451,273 KRW 691,718 KRW 37
10Y P/E Exit 179,730 KRW 294,292 KRW 422,287 KRW 35
Earnings-Based
Graham-Dodd 123,245 KRW 337,063 KRW 442,116 KRW 54
Lynch FV 66,734 KRW 95,334 KRW 123,934 KRW 50
PEG = 1.0 66,734 KRW 95,334 KRW 123,934 KRW 46
EPV 287,239 KRW 373,208 KRW 449,624 KRW 59
Dividend Discount
Gordon GGM 57,064 KRW 124,580 KRW 209,610 KRW 70
DDM Multi-Stage 57,064 KRW 91,090 KRW 128,938 KRW 61
Multiples
P/E Multiple 190,305 KRW 253,740 KRW 317,175 KRW 63
P/S Multiple 231,085 KRW 308,113 KRW 385,141 KRW 58
P/B Multiple 231,085 KRW 308,113 KRW 385,141 KRW 55
EV/EBIT 233,340 KRW 377,759 KRW 522,178 KRW 53
EV/EBITDA 201,122 KRW 334,802 KRW 468,481 KRW 54
EV/Revenue 325,768 KRW 551,061 KRW 776,354 KRW 43
Asset-Based
NCAV (Graham) 174,863 KRW 234,316 KRW 349,725 KRW 50
Growth DCF
Growth DCF 359,450 KRW 626,052 KRW 1,018,679 KRW 80
Rev-Margin DCF 313,833 KRW 606,469 KRW 931,803 KRW 74
Economic Profit
Residual Income 273,950 KRW 279,910 KRW 276,301 KRW 76
ROIC Compounder 287,239 KRW 386,040 KRW 538,554 KRW 72
Growth Earnings
Growth-Adj P/E 157,432 KRW 224,903 KRW 292,374 KRW 68

Widest divergence: Growth DCF (606,469 KRW) versus Dividend Discount (91,090 KRW). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 11.2T KRW
Revenue growth (YoY) +29.6%
Net margin 1.0%
Return on equity 5.4%
Free cash flow 271B KRW FY2025
Operating margin -3.1%
More key figures
Dividend yield 4.7%
EPS growth (YoY) +13.6%
Net debt 6.7T KRW FY2025

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

Quality Score breakdown

Overall quality 38/100

Of which business quality 38 · Market factors (momentum, volatility) 47

Profitability 24
Margins and returns on capital today
Quality Growth 35
Are margins and returns improving?
Cashflow 53
Earnings quality: real cash, not paper profit
Fin. Strength 6
Balance sheet, leverage, solvency risk
Investment 47
Disciplined investing over empire-building
Low Volatility 68
Calm price path (market factor)
Momentum 36
Price trend over the last 3–12 months (market factor)
52W Momentum 40
Distance to the 52-week high (market factor)
Net Issuance 82
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

E1 Corporation imports, stores, trades, and sells liquefied petroleum gas (LPG) in South Korea. The company transports LPG from oil-producing countries; and stores and manages LPG at Yeosu, Daesan, and Incheon terminals.

Full company description

E1 Corporation imports, stores, trades, and sells liquefied petroleum gas (LPG) in South Korea. The company transports LPG from oil-producing countries; and stores and manages LPG at Yeosu, Daesan, and Incheon terminals. It is also involved in the solar and wind power business; hydrogen charging business; electric vehicle charging business; investment activities; and digital technology and data-based business. In addition, the company offers Orange Cards; and Orange Plus, a charging station brand that combines LPG, hydrogen, and electric charging stations with vehicle-related convenience services. It also exports its products. E1 Corporation was founded in 1984 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

E1 Corporation reported revenue of 10.4T KRW in FY2025 versus 5.2T KRW in FY2021, a compound +19.2%/yr. Reported net income was 105B KRW in FY2025, compounding −5.6%/yr from FY2021.

Growth Quality 79/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
10.4T KRW
Latest YoY
−7.1%
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.
+9.2%
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.
+21.5%
Avg. growth/yr (18Y) 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.
+7.5%
Revenue +19.2%/yr
FY21 5.2T KRW
FY22 8.0T KRW
FY23 7.8T KRW
FY24 11.2T KRW
FY25 10.4T KRW
Net income −5.6%/yr
FY21 132B KRW
FY22 142B KRW
FY23 213B KRW
FY24 70.0B KRW
FY25 105B KRW

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Cite: Fair Value Calculator (2026). "E1 Corporation Fair Value". https://www.fairvalue-calculator.com/stock/017940

Peer Group

Oil & Gas Refining & Marketing · 115 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 38 · Bottom 25%
Fair Value upside +140% · Top 25%
Return on equity (TTM) 5% · Below median
Return on assets -0% · Bottom 25%
Net margin (TTM) 1% · Below median
Operating margin (TTM) -3% · Bottom 25%
Revenue growth 30% · Top 25%
Dividend yield (TTM) 5.2% · Top 25%
Debt / equity 0.69× · Higher than median

Valuation Multiples vs Oil & Gas Refining & Marketing median · lower = cheaper

P/FCF 0.0× · Cheaper than 75% of peers
EV/EBITDA 10.3× · Pricier than median

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 100 · sector 18
FUTURE 100 · sector 15
PAST 21 · sector 33
HEALTH 65 · sector 81
DIVIDEND 100 · sector 50

Values & ESG

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

Oil & gas

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

Similar stocks

10 more Oil & Gas Refining & Marketing stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Reliance Industries Limited RELIANCE ₹1,329 ₹751.26 -43%
Valero Energy Corporation VLO $330.21 $127.32 -61%
Marathon Petroleum Corporation MPC $348.25 $133.18 -62%
Phillips 66 PSX $225.58 $99.41 -56%
Neste Oyj NESTE €29.61 €3.83 -87%
Formosa Petrochemical Corporation 6505 70.20 TWD 15.32 TWD -78%
HF Sinclair Corporation DINO $87.93 $44.96 -49%
Bharat Petroleum Corporation BPCL ₹317.00 ₹846.81 +167%
SK Innovation Co 096770 122,400 KRW 53,541 KRW -56%
S-Oil Corporation 010950 140,900 KRW 19,441 KRW -86%

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Frequently asked questions

Is E1 Corporation (017940) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 206,733 KRW versus a price of 86,000 KRW, about +140% (undervalued).
What is the fair value of 017940?
Our model-based fair value for E1 Corporation is 206,733 KRW (as of Aug 13, 2026), built from audited fundamentals. The current price is 86,000 KRW.
What is the quality score of 017940?
E1 Corporation has a Quality Score of 38/100. 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 E1 Corporation (017940)?
E1 Corporation reported trailing-twelve-month revenue of about 11.2T KRW (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 017940?
The net profit margin of E1 Corporation is about 1.0%, meaning it keeps roughly 1.0% of revenue as net income. Based on the latest reported figures.
Does E1 Corporation pay a dividend?
E1 Corporation currently shows a dividend yield of about 4.68% relative to its recent price (as of Aug 13, 2026).

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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