Sk Gas (018670) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Sk Gas KRW 313,353, price KRW 240,500, upside +30.3%, quality 54 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range 80,730 KRW – 290,000 KRW · fair‑value band 235,015 KRW – 391,691 KRW · the 240,500 KRW price screens below the 313,353 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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SK Gas Co., Ltd. supplies and distributes liquefied petroleum gas (LPG) in South Korea and internationally.
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SK Gas Co., Ltd. supplies and distributes liquefied petroleum gas (LPG) in South Korea and internationally. It is involved in supplying of LPG for home/business use, and vehicles to consumers through filling stations; LPG trading activities; operation of operating LPG storage, LNG, and tank terminals, as well as LNG/LPG combined cycle power plants and solar power generation plants; provision of propane dehydrogenation and polypropylene; and development of fuel cell power generation. SK Gas Co., Ltd. was founded in 1985 and is headquartered in Seongnam-si, South Korea. SK Gas Co., Ltd. operates as a subsidiary of SK Discovery Co., Ltd.
Stock analysis
Sk Gas (018670) currently trades at 240,500 KRW, while our model-based Fair Value estimate is 313,353 KRW, implying the stock looks roughly 23.2% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of 509,864 KRW per share, and 21 of the 25 models we run sit above the 240,500 KRW price.
Bear case: the Dividend Discount group reads lowest at 85,189 KRW, and 4 of the 25 models stay below the price. Evidence for this calculation is medium.
Scenario range: 235,015 KRW (bear) to 391,691 KRW (bull), the price of 240,500 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 54/100 (solid quality), in the Energy sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Sk Gas reported revenue of 7.7T KRW in FY2025 versus 6.5T KRW in FY2021, a compound +4.3%/yr. Reported net income was 235B KRW in FY2025, compounding −1.4%/yr from FY2021.
Key figures
Market cap 2.2T KRW (≈ $1.5B) · P/S ratio 0.24 · Dividend yield 3.7% · Net margin 3.1% · Return on equity 13.3% · Return on assets (EBIT) 4.6% · Operating margin 8.6% · Revenue (TTM) 8.5T KRW.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (medium confidence).
What moves the price
The share trades about 17% below its 52-week high and 21% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Energy peers we cover trades at −61% fair-value upside, at 30%, 018670 screens cheaper than that median.
Fair Value models
Bear 235,015 KRWFair Value 313,353 KRWBull 391,691 KRW
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single 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 ⓘEvidence = 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.85/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+8.2%
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.
−1.6%
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.
+11.7%
Start year 2020 (pandemic). Over 10 years: +6.5% a year
Revenue growth 17 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.
+1.9%
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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.
+2.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year−1.2%
Dividend (yield on the price)3.7%
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.4% → 6%
Growth Forecast
Price in line with expectations
The price assumes less growth than the company has delivered so far and about what analysts expect.
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).
+3.3%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+6.0%
Yearly sales growth analysts expect, extended to five years.
After inflation (South Korea: IMF forecast 2.1% a year to 2030, 2.1% from 2016 to 2025) that is about +1.2% a year for the price and +3.9% for the forecasts.
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.Oil & Gas Refining & Marketing · 110 stocks
Beats the industry median on 9/11 measures
Overall it ranks above its industry peers.
Valuation
Quality Score54 · Below median
Fair Value upside+30% · Top 25%
Profitability
Return on equity (TTM)13% · Above median
Return on assets4% · Above median
Net margin (TTM)5% · Above median
Operating margin (TTM)9% · Above median
Growth and dividend
Revenue growth44% · Top 25%
Dividend yield (TTM)3.7% · Above median
Balance sheet
Debt / equity0.60× · Above median
Valuation Multiplesvs Oil & Gas Refining & Marketing median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Sk Gas Fair Value". https://www.fairvalue-calculator.com/stock/018670
Frequently asked questions
Is Sk Gas (018670) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 313,353 KRW versus a price of 240,500 KRW, about +30% upside (undervalued).
What is the fair value of 018670?
Our model-based fair value for Sk Gas is 313,353 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 240,500 KRW.
What is the quality score of 018670?
Sk Gas has a Quality Score of 54/100. 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 Gas (018670)?
Our model-based price target is the fair value of 313,353 KRW (as of Sep 24, 2026) from 25 valuation models. Cautious scenario 235,015 KRW, optimistic scenario 391,691 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Sk Gas stock forecast for 2026?
Our models put fair value at 313,353 KRW, about +30% upside versus a price of 240,500 KRW (undervalued). Cautious scenario 235,015 KRW, optimistic scenario 391,691 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Sk Gas (018670)?
Sk Gas reported trailing-twelve-month revenue of about 8.5T KRW (latest available figure, as of Sep 24, 2026).
Does Sk Gas pay a dividend?
Sk Gas currently shows a dividend yield of about 3.74% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Sk Gas (018670)?
For today's price to be fair in a discounted-cash-flow model, Sk Gas would have to grow free cash flow by +3.3 % per year for five years (discount rate 11.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +11.7 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 018670 use?
Our models discount Sk Gas at 11.6 %: a base by market capitalisation (small), 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 Sk Gas that is +3.3 % per year a year over ten years, using the same discount rate (11.6 %) and the same formula as our fair value.
How much growth has Sk Gas (018670) delivered so far?
Over the past 5 years revenue at Sk Gas grew +11.7 % a year. The price currently implies +3.3 % per year free-cash-flow growth a 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 Sk Gas (018670) growing?
The median revenue growth in the sector is +1.8 % a year. That is the yardstick for the growth priced into Sk Gas (+3.3 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Sk Gas (018670)?
The free-cash-flow yield on the price is 17.24 %: that much free cash flow Sk Gas produces per unit of market value. When it exceeds the discount rate of our models (11.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Sk Gas (018670)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Sk Gas it is 313,353 KRW per share (as of Sep 24, 2026), against a price of 240,500 KRW. It is the blended result of 25 valuation models (cash flow, earnings, asset, dividend).
Is Sk Gas stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 018670 trades below its calculated fair value: price 240,500 KRW, fair value 313,353 KRW, a gap of about +30% (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 018670?
No. The price is what the market pays today (240,500 KRW); the fair value is what the company's own numbers justify (313,353 KRW). For Sk Gas the two are 72,853 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Sk Gas worth?
The market values Sk Gas at about 2.2T KRW (market capitalisation, as of Sep 24, 2026). Per share that is 240,500 KRW; our models calculate a fair value of 313,353 KRW per share.
What do the bullish and bearish scenarios say about 018670?
Our models span a range for Sk Gas: cautious scenario 235,015 KRW, base 313,353 KRW, optimistic 391,691 KRW per share (as of Sep 24, 2026, price 240,500 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Sk Gas (018670)?
Balance-sheet figures for Sk Gas (as of Sep 24, 2026): return on equity 13.3%, debt of 0.60 per unit of equity. They feed the Quality Score of 54/100, which measures business quality independently of the share price.
How far is 018670 from its 52-week high?
Sk Gas trades at 240,500 KRW, about 17% below its 52-week high of 290,000 KRW and 21% above the low of 198,000 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 313,353 KRW is for.
Which stocks are comparable to Sk Gas?
From the same area (Energy) we also value Reliance Industries Limited, Valero Energy Corporation, Marathon Petroleum 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 Gas stock attractive at the current price?
The data as of Sep 24, 2026: price 240,500 KRW, calculated fair value 313,353 KRW (+30%), Quality Score 54/100, from 25 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 018670 calculated?
We run Sk Gas through 25 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 313,353 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 14.1 % above its aggregate fair value. Sk Gas currently trades 30 % 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 Gas (018670)?
The closing price on Sep 23, 2026 was 240,500 KRW. Our model-based fair value is 313,353 KRW, about +30% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Sk Gas right now?
Solid quality (54/100) at a price below fair value, the discount is the argument here, not the business quality. The price sits in the lower half of our model range, the side with the larger margin of safety. Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.
Key figures of Sk Gas
How large is the market capitalisation of Sk Gas (018670)?
The market capitalisation of Sk Gas is 2.2T KRW (≈ $1.5B). 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 Gas (018670)?
The price-to-sales ratio of Sk Gas is 0.24 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the dividend yield of Sk Gas (018670)?
The dividend yield of Sk Gas is 3.7%. 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 Gas (018670)?
The net margin of Sk Gas is 3.1% (fiscal year 2025). 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 Gas (018670)?
The return on equity (ROE) of Sk Gas is 13.3% (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 Gas (018670)?
On an EBIT basis the return on assets of Sk Gas is 4.6% (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 Gas (018670)?
The operating margin of Sk Gas is 8.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Sk Gas (018670)?
Revenue at Sk Gas is growing +44.2% versus a year earlier (3y avg −1.6%). 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 Gas (018670)?
Earnings per share at Sk Gas are growing +179% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Sk Gas (018670) carry?
The net debt of Sk Gas is 2.1T KRW (fiscal year 2025, ≈ 5.6 yrs of FCF). 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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