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Sambo Corrugated Board Co (023600) Fair Value & Analysis

Consumer Cyclical · KR · Market cap 133B KRW

SC Sambo Corrugated Board Co 023600 · KQ
Price8,720 KRW
Fair Value25,099 KRW
Upside+187.8%
Quality50/100
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Mixed Growth
Thin margins · 4.8% net margin
Low debt · generates free cash flow
2.53% dividend yield
Ranks above peers (6/10)
Narrow moat 32/100
Evidence: Medium Range 18,731 KRW – 32,915 KRW Share as image

Fair value as of: Jul 22, 2026

From 23 valuation models · updated 19 days ago

Share price +4.7% over the past month.

A solid business, screening 188% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (18,731 KRW). The market is more pessimistic than our downside scenario.
  • Solid quality (50/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

16,701 KRW 7,123 KRW Fair Value 25,099 KRW Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 22, 2026.

How to read this chart

60‑month range 7,123 KRW – 16,701 KRW · fair‑value band 18,731 KRW – 32,915 KRW · the 8,720 KRW price screens below the 25,099 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 22, 2026.

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Analysis

Sambo Corrugated Board Co (023600) currently trades at 8,720 KRW, while our model-based Fair Value estimate is 25,099 KRW, implying the stock looks roughly 187.8% undervalued today. The Quality Score stands at 50/100 (solid quality), in the Consumer Cyclical 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, Sambo Corrugated Board Co generated revenue of 543B KRW at a net margin of 4.8%. Revenue grew 2.6% year over year. It earns a return on equity of 4.6%. Net debt stands at 75.3B KRW. Fundamentals as of Jul 22, 2026

Our scenario range runs from 18,731 KRW (bear case) to 32,915 KRW (bull case); at 8,720 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 6% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -22% fair-value upside, at 188%, 023600 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 9,067 KRW 13,360 KRW 19,257 KRW 80
Residual Income 28,312 KRW 28,325 KRW 26,296 KRW 76
Rev-Margin DCF 12,489 KRW 20,893 KRW 29,919 KRW 74
All 23 models by family
DCF Models
FCF DCF 8,783 KRW 13,430 KRW 20,111 KRW 38
Owner Earnings 6,589 KRW 10,234 KRW 15,475 KRW 31
5Y Revenue Exit 12,489 KRW 20,874 KRW 31,327 KRW 39
5Y EBITDA Exit 16,832 KRW 28,645 KRW 41,990 KRW 41
5Y P/E Exit 14,309 KRW 24,131 KRW 34,008 KRW 38
10Y Revenue Exit 10,519 KRW 17,762 KRW 26,945 KRW 36
10Y EBITDA Exit 13,731 KRW 23,031 KRW 34,757 KRW 37
10Y P/E Exit 12,151 KRW 19,970 KRW 28,910 KRW 35
Earnings-Based
Graham-Dodd 11,448 KRW 27,886 KRW 36,061 KRW 54
PEG = 1.0 4,973 KRW 7,105 KRW 9,236 KRW 46
EPV 10,334 KRW 12,289 KRW 13,999 KRW 59
Multiples
P/E Multiple 21,466 KRW 28,621 KRW 35,776 KRW 63
P/S Multiple 21,466 KRW 28,621 KRW 35,776 KRW 58
P/B Multiple 21,466 KRW 28,621 KRW 35,776 KRW 55
EV/EBIT 18,226 KRW 24,766 KRW 31,305 KRW 53
EV/EBITDA 24,578 KRW 33,235 KRW 41,891 KRW 54
EV/Revenue 15,611 KRW 22,897 KRW 30,184 KRW 43
Asset-Based
NCAV (Graham) 18,731 KRW 25,099 KRW 37,462 KRW 50
Growth DCF
Growth DCF 9,067 KRW 13,360 KRW 19,257 KRW 80
Rev-Margin DCF 12,489 KRW 20,893 KRW 29,919 KRW 74
Economic Profit
Residual Income 28,312 KRW 28,325 KRW 26,296 KRW 76
ROIC Compounder 10,334 KRW 12,289 KRW 13,999 KRW 72
Growth Earnings
Growth-Adj P/E 16,700 KRW 23,857 KRW 31,014 KRW 68

Widest divergence: Multiples (28,621 KRW) versus Earnings-Based (12,289 KRW). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 543B KRW
Revenue growth (YoY) +2.6%
Net margin 4.8%
Return on equity 4.6%
Free cash flow 15.2B KRW FY2025
Operating margin 4.1%
More key figures
Dividend yield 2.5%
EPS growth (YoY) -18.0%
Net debt 75.3B KRW FY2025

Figures from reported company fundamentals · as of Jul 22, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 50/100

Of which business quality 51 · Market factors (momentum, volatility) 43

Profitability 31
Margins and returns on capital today
Quality Growth 28
Are margins and returns improving?
Cashflow 43
Earnings quality: real cash, not paper profit
Fin. Strength 73
Balance sheet, leverage, solvency risk
Investment 69
Disciplined investing over empire-building
Low Volatility 87
Calm price path (market factor)
Momentum 26
Price trend over the last 3–12 months (market factor)
52W Momentum 21
Distance to the 52-week high (market factor)
Net Issuance 71
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

Sambo Corrugated Board Co., Ltd. manufactures and sells corrugated board and box products in South Korea. It offers flute A, flute B, flute E, flute BA, flute BB, and flute EB corrugated fiber boards; and corrugated boxes for use in industrial and agricultural products, and various die-cutting boxes. Sambo Corrugated Board Co., Ltd.

Full company description

Sambo Corrugated Board Co., Ltd. manufactures and sells corrugated board and box products in South Korea. It offers flute A, flute B, flute E, flute BA, flute BB, and flute EB corrugated fiber boards; and corrugated boxes for use in industrial and agricultural products, and various die-cutting boxes. Sambo Corrugated Board Co., Ltd. was founded in 1973 and is headquartered in Siheung-Si, South Korea.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Sambo Corrugated Board Co reported revenue of 540B KRW in FY2025 versus 534B KRW in FY2021, a compound +0.3%/yr. Reported net income was 27.0B KRW in FY2025, compounding −15.6%/yr from FY2021.

Growth Quality 60/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
540B KRW
Latest YoY
−3.3%
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.
−2.5%
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.
+6.0%
Avg. growth/yr (20Y) 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.
+7.9%
Revenue +0.3%/yr
FY21 534B KRW
FY22 582B KRW
FY23 556B KRW
FY24 558B KRW
FY25 540B KRW
Net income −15.6%/yr
FY21 53.1B KRW
FY22 56.2B KRW
FY23 53.5B KRW
FY24 32.5B KRW
FY25 27.0B KRW

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Cite: Fair Value Calculator (2026). "Sambo Corrugated Board Co Fair Value". https://www.fairvalue-calculator.com/stock/023600

Peer Group

Packaging & Containers · 272 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 50 · Below median
Fair Value upside +188% · Top 25%
Return on equity (TTM) 5% · Below median
Return on assets 2% · Below median
Net margin (TTM) 5% · Above median
Operating margin (TTM) 4% · Below median
Revenue growth 3% · Above median
Dividend yield (TTM) 2.5% · Above median
Debt / equity 0.08× · Lower than median

Valuation Multiples vs Packaging & Containers median · lower = cheaper

P/FCF 0.0× · Cheaper than 75% of peers

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 9
FUTURE 13 · sector 0
PAST 18 · sector 21
HEALTH 96 · sector 93
DIVIDEND 51 · sector 42

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

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

Similar stocks

10 more Packaging & Containers stocks, each showing price versus our Fair Value estimate (as of Jul 22, 2026).

Stock Price Fair Value vs Fair Value
Stora Enso Oyj STER kr 101.90 kr 126.39 +24%
ShenZhen YUTO Packaging Technology Co 002831 ¥29.10 ¥20.88 -28%
SCG Packaging Public Company SCGP 29.00 THB 16.12 THB -44%
AblePrint Technology Co 7734 2,850 TWD 661.69 TWD -77%
PT Fajar Surya Wisesa Tbk, FASW 5,312 IDR 1,194 IDR -78%
Taiwan Hon Chuan Enterprise Co 9939 132.50 TWD 127.06 TWD -4%
Time Technoplast Limited TIMETECHNO ₹206.82 ₹161.42 -22%
EPL Limited 500135 ₹222.25 ₹111.65 -50%
Ton Yi Industrial Corp 9907 15.15 TWD 23.17 TWD +53%
Dongwon Systems Corporation 014820 19,330 KRW 31,473 KRW +63%

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Frequently asked questions

Is Sambo Corrugated Board Co (023600) overvalued or undervalued?
As of Jul 22, 2026, our model estimates a fair value of 25,099 KRW versus a price of 8,720 KRW, about +188% (undervalued).
What is the fair value of 023600?
Our model-based fair value for Sambo Corrugated Board Co is 25,099 KRW (as of Jul 22, 2026), built from audited fundamentals. The current price is 8,720 KRW.
What is the quality score of 023600?
Sambo Corrugated Board Co has a Quality Score of 50/100. 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 Sambo Corrugated Board Co (023600)?
Sambo Corrugated Board Co reported trailing-twelve-month revenue of about 543B KRW (latest available figure, as of Jul 22, 2026).
What is the net profit margin of 023600?
The net profit margin of Sambo Corrugated Board Co is about 4.8%, meaning it keeps roughly 4.8% of revenue as net income. Based on the latest reported figures.
Does Sambo Corrugated Board Co pay a dividend?
Sambo Corrugated Board Co currently shows a dividend yield of about 2.46% relative to its recent price (as of Jul 22, 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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