Seoul Broadcasting System (034120) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Seoul Broadcasting System KRW 9,524, price KRW 11,780, upside -19.2%, quality 42 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 10,700 KRW – 55,841 KRW · fair‑value band 7,143 KRW – 9,738 KRW · the 11,780 KRW price screens above the 9,524 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. Dashed = 300-day average. As of Sep 24, 2026.
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Seoul Broadcasting System engages in the broadcasting, cultural service, and advertising businesses in South Korea and internationally. It provides terrestrial TV and radio advertisements, as well as program sales services. The company was founded in 1990 and is headquartered in Seoul, South Korea.
Stock analysis
Seoul Broadcasting System (034120) currently trades at 11,780 KRW, while our model-based Fair Value estimate is 9,524 KRW, implying the stock looks roughly 23.7% overvalued today.
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Valuation
Bull case: the Asset-Based group reads highest at a median of 46,817 KRW per share, and 12 of the 23 models we run sit above the 11,780 KRW price.
Bear case: the Earnings-Based group reads lowest at 1,355 KRW, and 11 of the 23 models stay below the price. Evidence for this calculation is medium.
Scenario range: 7,143 KRW (bear) to 9,738 KRW (bull), the price of 11,780 KRW sits above 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 42/100 (below-average quality), in the Communication Services sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Seoul Broadcasting System reported revenue of 1.0T KRW in FY2025 versus 1.1T KRW in FY2021, a compound −1.7%/yr. Reported net income was 8.0B KRW in FY2025, compounding −50.7%/yr from FY2021.
Key figures
Market cap 219B KRW (≈ $161M) · P/S ratio 0.22 · Dividend yield 2.8% · Net margin 0.8% · Return on equity 0.1% · Return on assets (EBIT) 6.0% · Operating margin −9.2% · Revenue (TTM) 993B KRW.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (low confidence).
What moves the price
The share trades about 42% below its 52-week high and 10% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Communication Services peers we cover trades at −4% fair-value upside, at −19%, 034120 screens richer than that median.
Fair Value models
Bear 7,143 KRWFair Value 9,524 KRWBull 9,738 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 growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−3.6%
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.
−4.9%
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: +2.4% a year
Revenue growth 24 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.
+2.6%
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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.
−34.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year−37.1%
Dividend (yield on the price)2.8%
Profit margin 2019 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% → 2%
Growth Forecast
Price in line with expectations
The price assumes about as much growth as 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).
+3.5%
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.
+3.3%
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 +1.4% a year for the price and +1.2% for the forecasts.
Compare Seoul Broadcasting System with another stock
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.Entertainment · 261 stocks
Beats the industry median on 3/11 measures
Overall it trails its industry peers.
Valuation
Quality Score42 · Below median
Fair Value upside−19% · Below median
Profitability
Return on equity (TTM)0% · Below median
Return on assets0% · Below median
Net margin (TTM)0% · Below median
Operating margin (TTM)−9% · Below median
Growth and dividend
Revenue growth−8% · Below median
Dividend yield (TTM)2.8% · Above median
Balance sheet
Debt / equity0.17× · Above median
Valuation Multiplesvs Entertainment median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Seoul Broadcasting System Fair Value". https://www.fairvalue-calculator.com/stock/034120
Frequently asked questions
Is Seoul Broadcasting System (034120) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 9,524 KRW versus a price of 11,780 KRW, about −19% upside (overvalued).
What is the fair value of 034120?
Our model-based fair value for Seoul Broadcasting System is 9,524 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 11,780 KRW.
What is the quality score of 034120?
Seoul Broadcasting System has a Quality Score of 42/100. 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 Seoul Broadcasting System (034120)?
Our model-based price target is the fair value of 9,524 KRW (as of Sep 24, 2026) from 23 valuation models. Cautious scenario 7,143 KRW, optimistic scenario 9,738 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Seoul Broadcasting System stock forecast for 2026?
Our models put fair value at 9,524 KRW, about −19% upside versus a price of 11,780 KRW (overvalued). Cautious scenario 7,143 KRW, optimistic scenario 9,738 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Seoul Broadcasting System (034120)?
Seoul Broadcasting System reported trailing-twelve-month revenue of about 993B KRW (latest available figure, as of Sep 24, 2026).
Does Seoul Broadcasting System pay a dividend?
Seoul Broadcasting System currently shows a dividend yield of about 2.80% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Seoul Broadcasting System (034120)?
For today's price to be fair in a discounted-cash-flow model, Seoul Broadcasting System would have to grow free cash flow by +3.5 % 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 +3.2 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 034120 use?
Our models discount Seoul Broadcasting System at 11.6 %: a base by market capitalisation (micro), damped by beta 0.29, 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 Seoul Broadcasting System that is +3.5 % 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 Seoul Broadcasting System (034120) delivered so far?
Over the past 5 years revenue at Seoul Broadcasting System grew +3.2 % a year. The price currently implies +3.5 % 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 Seoul Broadcasting System (034120) growing?
The median revenue growth in the sector is +1.6 % a year. That is the yardstick for the growth priced into Seoul Broadcasting System (+3.5 % 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 Seoul Broadcasting System (034120)?
The free-cash-flow yield on the price is 21.90 %: that much free cash flow Seoul Broadcasting System 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 Seoul Broadcasting System (034120)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Seoul Broadcasting System it is 9,524 KRW per share (as of Sep 24, 2026), against a price of 11,780 KRW. It is the blended result of 23 valuation models (cash flow, earnings, asset, dividend).
Is Seoul Broadcasting System stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 034120 trades above its calculated fair value: price 11,780 KRW, fair value 9,524 KRW, a gap of about −19% (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 034120?
No. The price is what the market pays today (11,780 KRW); the fair value is what the company's own numbers justify (9,524 KRW). For Seoul Broadcasting System the two are 2,256 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Seoul Broadcasting System worth?
The market values Seoul Broadcasting System at about 219B KRW (market capitalisation, as of Sep 24, 2026). Per share that is 11,780 KRW; our models calculate a fair value of 9,524 KRW per share.
What do the bullish and bearish scenarios say about 034120?
Our models span a range for Seoul Broadcasting System: cautious scenario 7,143 KRW, base 9,524 KRW, optimistic 9,738 KRW per share (as of Sep 24, 2026, price 11,780 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Seoul Broadcasting System (034120)?
Balance-sheet figures for Seoul Broadcasting System (as of Sep 24, 2026): return on equity 0.1%, debt of 0.17 per unit of equity. They feed the Quality Score of 42/100, which measures business quality independently of the share price.
How far is 034120 from its 52-week high?
Seoul Broadcasting System trades at 11,780 KRW, about 42% below its 52-week high of 20,231 KRW and 10% above the low of 10,700 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 9,524 KRW is for.
Which stocks are comparable to Seoul Broadcasting System?
From the same area (Communication Services) we also value Netflix, Inc, The Walt Disney Company, Warner Bros. Discovery, Inc, Live Nation Entertainment, Inc, 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 Seoul Broadcasting System stock attractive at the current price?
The data as of Sep 24, 2026: price 11,780 KRW, calculated fair value 9,524 KRW (−19%), Quality Score 42/100, from 23 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 034120 calculated?
We run Seoul Broadcasting System through 23 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 9,524 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 14.0 % above its aggregate fair value. Seoul Broadcasting System 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 Seoul Broadcasting System (034120)?
The closing price on Sep 23, 2026 was 11,780 KRW. Our model-based fair value is 9,524 KRW, about −19% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Seoul Broadcasting System right now?
The price sits above even our optimistic bull case (9,738 KRW). The favourable scenario is already priced in. Weak quality (42/100) and above fair value at the same time, the margin of safety is missing on both counts.
Key figures of Seoul Broadcasting System
How large is the market capitalisation of Seoul Broadcasting System (034120)?
The market capitalisation of Seoul Broadcasting System is 219B KRW (≈ $161M). 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 Seoul Broadcasting System (034120)?
The price-to-sales ratio of Seoul Broadcasting System is 0.22 (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 Seoul Broadcasting System (034120)?
The dividend yield of Seoul Broadcasting System is 2.8%. 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 Seoul Broadcasting System (034120)?
The net margin of Seoul Broadcasting System is 0.8% (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 Seoul Broadcasting System (034120)?
The return on equity (ROE) of Seoul Broadcasting System is 0.1% (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 Seoul Broadcasting System (034120)?
On an EBIT basis the return on assets of Seoul Broadcasting System is 6.0% (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 Seoul Broadcasting System (034120)?
The operating margin of Seoul Broadcasting System is −9.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Seoul Broadcasting System (034120)?
Revenue at Seoul Broadcasting System is growing −7.7% versus a year earlier (3y avg −4.9%). 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 Seoul Broadcasting System (034120)?
Earnings per share at Seoul Broadcasting System are growing +13.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Seoul Broadcasting System (034120) carry?
The net debt of Seoul Broadcasting System is 331B KRW (fiscal year 2025, ≈ 6.9 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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