Lotte Shopping (023530) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Lotte Shopping KRW 118,253, price KRW 103,900, upside +13.8%, quality 46 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 46,900 KRW – 201,986 KRW · fair‑value band 88,855 KRW – 118,253 KRW · the 103,900 KRW price screens below the 118,253 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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Lotte Shopping Co., Ltd., together with its subsidiaries, owns and manages department stores in South Korea. It also operates outlets, discount stores, electronics stores, supermarkets, e-commerce, and movie theaters.
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Lotte Shopping Co., Ltd., together with its subsidiaries, owns and manages department stores in South Korea. It also operates outlets, discount stores, electronics stores, supermarkets, e-commerce, and movie theaters. In addition, the company is involved in the TV home shopping, clothing manufacturing and sales, home appliance retail, and movie screening businesses; provision of building management service; real estate, new technology investment, financial, and film investment production activities. The company was formerly known as Hyupwoo Industrial Co., Ltd. and changed its name to Lotte Shopping Co., Ltd. in November 1979. Lotte Shopping Co., Ltd. was founded in 1970 and is headquartered in Seoul, South Korea.
Stock analysis
Lotte Shopping (023530) currently trades at 103,900 KRW, while our model-based Fair Value estimate is 118,253 KRW, implying the stock looks roughly 12.1% undervalued today.
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Valuation
Bull case: the Asset-Based group reads highest at a median of 359,877 KRW per share, and 13 of the 24 models we run sit above the 103,900 KRW price.
Bear case: the Earnings-Based group reads lowest at 15,157 KRW, and 11 of the 24 models stay below the price. Evidence for this calculation is medium.
Scenario range: 88,855 KRW (bear) to 118,253 KRW (bull), the price of 103,900 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 46/100 (below-average quality), in the Consumer Cyclical sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Lotte Shopping reported revenue of 13.7T KRW in FY2025 versus 15.6T KRW in FY2021, a compound −3.1%/yr. Reported net income was 51.6B KRW in FY2025.
Key figures
Market cap 4.4T KRW (≈ $3.1B) · P/S ratio 0.32 · Dividend yield 3.9% · Net margin 0.4% · Return on equity 1.2% · Return on assets (EBIT) 1.2% · Operating margin 7.0% · Revenue (TTM) 13.9T KRW.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (low confidence).
What moves the price
The share trades about 49% below its 52-week high and 67% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at 1% fair-value upside, at 14%, 023530 screens cheaper than that median.
Fair Value models
Bear 88,855 KRWFair Value 118,253 KRWBull 118,253 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.40/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−1.8%
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.
−3.9%
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.
−3.2%
Start year 2020 (pandemic). Over 10 years: −7.2% a year
Revenue growth 20 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 3 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 3 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.
−29.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year−33.4%
Dividend (yield on the price)3.9%
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.2% → 4%
⚠ Revenue per share shrinking 4.0%/yr over ~6Y (margins intact) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Growth Forecast
Little optimism in the price
The price assumes about as much growth as the company has delivered so far and less than 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).
−1.8%
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.
+2.7%
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 −3.8% a year for the price and +0.6% 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.Department Stores · 120 stocks
Beats the industry median on 6/11 measures
A mixed picture versus its industry peers.
Valuation
Quality Score46 · Bottom 25%
Fair Value upside+14% · Above median
Profitability
Return on equity (TTM)1% · Below median
Return on assets1% · Below median
Net margin (TTM)1% · Below median
Operating margin (TTM)7% · Above median
Growth and dividend
Revenue growth4% · Above median
Dividend yield (TTM)3.9% · Top 25%
Balance sheet
Debt / equity0.35× · Highest 25%
Valuation Multiplesvs Department Stores median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Lotte Shopping Fair Value". https://www.fairvalue-calculator.com/stock/023530
Frequently asked questions
Is Lotte Shopping (023530) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 118,253 KRW versus a price of 103,900 KRW, about +14% upside (undervalued).
What is the fair value of 023530?
Our model-based fair value for Lotte Shopping is 118,253 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 103,900 KRW.
What is the quality score of 023530?
Lotte Shopping has a Quality Score of 46/100. 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 Lotte Shopping (023530)?
Our model-based price target is the fair value of 118,253 KRW (as of Sep 24, 2026) from 24 valuation models. Cautious scenario 88,855 KRW, optimistic scenario 118,253 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Lotte Shopping stock forecast for 2026?
Our models put fair value at 118,253 KRW, about +14% upside versus a price of 103,900 KRW (undervalued). Cautious scenario 88,855 KRW, optimistic scenario 118,253 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Lotte Shopping (023530)?
Lotte Shopping reported trailing-twelve-month revenue of about 13.9T KRW (latest available figure, as of Sep 24, 2026).
Does Lotte Shopping pay a dividend?
Lotte Shopping currently shows a dividend yield of about 3.95% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Lotte Shopping (023530)?
For today's price to be fair in a discounted-cash-flow model, Lotte Shopping would have to grow free cash flow by -1.8 % 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 -3.2 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 023530 use?
Our models discount Lotte Shopping at 8.9 %: a base by market capitalisation (mid), damped by beta 0.51, 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 Lotte Shopping that is -1.8 % per year a year over ten years, using the same discount rate (8.9 %) and the same formula as our fair value.
How much growth has Lotte Shopping (023530) delivered so far?
Over the past 5 years revenue at Lotte Shopping grew -3.2 % a year. The price currently implies -1.8 % 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 Lotte Shopping (023530) growing?
The median revenue growth in the sector is +2.6 % a year. That is the yardstick for the growth priced into Lotte Shopping (-1.8 % 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 Lotte Shopping (023530)?
The free-cash-flow yield on the price is 34.93 %: that much free cash flow Lotte Shopping 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 Lotte Shopping (023530)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Lotte Shopping it is 118,253 KRW per share (as of Sep 24, 2026), against a price of 103,900 KRW. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Lotte Shopping stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 023530 trades below its calculated fair value: price 103,900 KRW, fair value 118,253 KRW, a gap of about +14% (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 023530?
No. The price is what the market pays today (103,900 KRW); the fair value is what the company's own numbers justify (118,253 KRW). For Lotte Shopping the two are 14,353 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Lotte Shopping worth?
The market values Lotte Shopping at about 4.4T KRW (market capitalisation, as of Sep 24, 2026). Per share that is 103,900 KRW; our models calculate a fair value of 118,253 KRW per share.
What do the bullish and bearish scenarios say about 023530?
Our models span a range for Lotte Shopping: cautious scenario 88,855 KRW, base 118,253 KRW, optimistic 118,253 KRW per share (as of Sep 24, 2026, price 103,900 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Lotte Shopping (023530)?
Balance-sheet figures for Lotte Shopping (as of Sep 24, 2026): return on equity 1.2%, debt of 0.35 per unit of equity. They feed the Quality Score of 46/100, which measures business quality independently of the share price.
How far is 023530 from its 52-week high?
Lotte Shopping trades at 103,900 KRW, about 49% below its 52-week high of 201,986 KRW and 67% above the low of 62,066 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 118,253 KRW is for.
Which stocks are comparable to Lotte Shopping?
From the same area (Consumer Cyclical) we also value Falabella S.A, Dillard's, Inc, 99 Speed Mart Retail Holdings, Cencosud S.A, 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 Lotte Shopping stock attractive at the current price?
The data as of Sep 24, 2026: price 103,900 KRW, calculated fair value 118,253 KRW (+14%), Quality Score 46/100, from 24 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 023530 calculated?
We run Lotte Shopping through 24 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 118,253 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. Lotte Shopping currently trades 14 % 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 Lotte Shopping (023530)?
The closing price on Sep 23, 2026 was 103,900 KRW. Our model-based fair value is 118,253 KRW, about +14% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Lotte Shopping right now?
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 Lotte Shopping
How large is the market capitalisation of Lotte Shopping (023530)?
The market capitalisation of Lotte Shopping is 4.4T KRW (≈ $3.1B). 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 Lotte Shopping (023530)?
The price-to-sales ratio of Lotte Shopping is 0.32 (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 Lotte Shopping (023530)?
The dividend yield of Lotte Shopping is 3.9%. 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 Lotte Shopping (023530)?
The net margin of Lotte Shopping is 0.4% (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 Lotte Shopping (023530)?
The return on equity (ROE) of Lotte Shopping is 1.2% (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 Lotte Shopping (023530)?
On an EBIT basis the return on assets of Lotte Shopping is 1.2% (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 Lotte Shopping (023530)?
The operating margin of Lotte Shopping is 7.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Lotte Shopping (023530)?
Revenue at Lotte Shopping is growing +3.6% versus a year earlier (3y avg −3.9%). 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 Lotte Shopping (023530)?
Earnings per share at Lotte Shopping are growing +692% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Lotte Shopping (023530) carry?
The net debt of Lotte Shopping is 9.3T KRW (fiscal year 2025, ≈ 9.0 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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