Korea Gas Corporation (036460) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Korea Gas Corporation KRW 82,355, price KRW 35,600, upside +131.3%, quality 48 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 21,235 KRW – 59,142 KRW · the 35,600 KRW price screens below the 82,355 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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Korea Gas Corporation engages in the exploration, development, production, import, and wholesale of liquefied natural gas (LNG), compressed natural gas, and natural gas in Korea, Australia, Iraq, Mozambique, and Myanmar. It operates through the Natural Gas Wholesale and Others segments.
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Korea Gas Corporation engages in the exploration, development, production, import, and wholesale of liquefied natural gas (LNG), compressed natural gas, and natural gas in Korea, Australia, Iraq, Mozambique, and Myanmar. It operates through the Natural Gas Wholesale and Others segments. The company manufactures and supplies natural gas, as well as refines and sells by-products; construct and operates receiving terminals and supply networks; explores, imports, and exports natural gas and LPG; manufactures and supplies hydrogen; develops, exports, and import hydrogen energy; and researches and develops gas-related technologies, as well as is involved in supply of power and heat, equipment conservation, terminal management, labor force management, and construction of hydrogen charging station. As of December 31, 2024, it owned and operated a pipeline network of 5,206 kilometers. It serves power-generating companies and city gas companies. Korea Gas Corporation was incorporated in 1983 and is headquartered in Daegu, South Korea.
Stock analysis
Korea Gas Corporation (036460) currently trades at 35,600 KRW, while our model-based Fair Value estimate is 82,355 KRW, implying the stock looks roughly 56.8% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 367,622 KRW per share, and 14 of the 20 models we run sit above the 35,600 KRW price.
Bear case: the Growth Earnings group reads lowest at 22,124 KRW, and 6 of the 20 models stay below the price. Evidence for this calculation is medium.
Quality & growth
The Quality Score stands at 48/100 (below-average quality), in the Utilities sector.
Mixed Growth: Spin-off in 2024: revenue and profit before it include the divested business. Growth is measured afresh from 2024.
Korea Gas Corporation reported revenue of 35.7T KRW in FY2025 versus 27.5T KRW in FY2021, a compound +6.7%/yr. Reported net income was 133B KRW in FY2025, compounding −38.8%/yr from FY2021.
Key figures
Market cap 3.1T KRW (≈ $2.2B) · P/S ratio 0.08 · Dividend yield 3.2% · Net margin 0.4% · Return on equity 2.8% · Return on assets (EBIT) 3.7% · Operating margin 7.7% · Revenue (TTM) 34.8T KRW.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (medium confidence).
What moves the price
The share trades about 22% below its 52-week high and 12% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Utilities peers we cover trades at −21% fair-value upside, at 131%, 036460 screens cheaper than that median.
Fair Value models
Bear 82,355 KRWFair Value 82,355 KRWBull 82,355 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.55/100
Spin-off in 2024: revenue and profit before it include the divested business. Growth is measured afresh from 2024.
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. Basis: EBIT basis. 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.
+14.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+11.6%
Dividend (yield on the price)3.2%
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%
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.Utilities - Regulated Gas · 102 stocks
Beats the industry median on 3/11 measures
Overall it trails its industry peers.
Valuation
Quality Score48 · Below median
Fair Value upside+131% · Top 25%
Profitability
Return on equity (TTM)3% · Bottom 25%
Return on assets2% · Below median
Net margin (TTM)1% · Bottom 25%
Operating margin (TTM)8% · Below median
Growth and dividend
Revenue growth−7% · Below median
Dividend yield (TTM)3.2% · Below median
Balance sheet
Debt / equity2.01× · Highest 25%
Valuation Multiplesvs Utilities - Regulated Gas median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Korea Gas Corporation Fair Value". https://www.fairvalue-calculator.com/stock/036460
Frequently asked questions
Is Korea Gas Corporation (036460) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 82,355 KRW versus a price of 35,600 KRW, about +131% upside (undervalued).
What is the fair value of 036460?
Our model-based fair value for Korea Gas Corporation is 82,355 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 35,600 KRW.
What is the quality score of 036460?
Korea Gas Corporation has a Quality Score of 48/100. 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 Korea Gas Corporation (036460)?
Our model-based price target is the fair value of 82,355 KRW (as of Sep 24, 2026) from 22 valuation models. It is a calculation from audited fundamentals, not an analyst target.
What is the Korea Gas Corporation stock forecast for 2026?
Our models put fair value at 82,355 KRW, about +131% upside versus a price of 35,600 KRW (undervalued). The calculation is refreshed regularly with new filings.
What is the revenue of Korea Gas Corporation (036460)?
Korea Gas Corporation reported trailing-twelve-month revenue of about 34.8T KRW (latest available figure, as of Sep 24, 2026).
Does Korea Gas Corporation pay a dividend?
Korea Gas Corporation currently shows a dividend yield of about 3.24% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Korea Gas Corporation (036460)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Korea Gas Corporation it is 82,355 KRW per share (as of Sep 24, 2026), against a price of 35,600 KRW. It is the blended result of 22 valuation models (cash flow, earnings, asset, dividend).
Is Korea Gas Corporation stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 036460 trades below its calculated fair value: price 35,600 KRW, fair value 82,355 KRW, a gap of about +131% (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 036460?
No. The price is what the market pays today (35,600 KRW); the fair value is what the company's own numbers justify (82,355 KRW). For Korea Gas Corporation the two are 46,755 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Korea Gas Corporation worth?
The market values Korea Gas Corporation at about 3.1T KRW (market capitalisation, as of Sep 24, 2026). Per share that is 35,600 KRW; our models calculate a fair value of 82,355 KRW per share.
How solid is the balance sheet of Korea Gas Corporation (036460)?
Balance-sheet figures for Korea Gas Corporation (as of Sep 24, 2026): return on equity 2.8%, debt of 2.01 per unit of equity. They feed the Quality Score of 48/100, which measures business quality independently of the share price.
How far is 036460 from its 52-week high?
Korea Gas Corporation trades at 35,600 KRW, about 22% below its 52-week high of 45,600 KRW and 12% above the low of 31,700 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 82,355 KRW is for.
Which stocks are comparable to Korea Gas Corporation?
From the same area (Utilities) we also value Naturgy Energy Group, Atmos Energy Corporation, NiSource Inc, Uniper SE, 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 Korea Gas Corporation stock attractive at the current price?
The data as of Sep 24, 2026: price 35,600 KRW, calculated fair value 82,355 KRW (+131%), Quality Score 48/100, from 22 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 036460 calculated?
We run Korea Gas Corporation through 22 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 82,355 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. Korea Gas Corporation currently trades 131 % 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 Korea Gas Corporation (036460)?
The closing price on Sep 23, 2026 was 35,600 KRW. Our model-based fair value is 82,355 KRW, about +131% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Korea Gas Corporation right now?
The price is below even our cautious bear case (82,355 KRW). The market is more pessimistic than our downside scenario. Solid quality (48/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of Korea Gas Corporation
How large is the market capitalisation of Korea Gas Corporation (036460)?
The market capitalisation of Korea Gas Corporation is 3.1T KRW (≈ $2.2B). 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 Korea Gas Corporation (036460)?
The price-to-sales ratio of Korea Gas Corporation is 0.08 (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 Korea Gas Corporation (036460)?
The dividend yield of Korea Gas Corporation is 3.2%. 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 Korea Gas Corporation (036460)?
The net margin of Korea Gas Corporation 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 Korea Gas Corporation (036460)?
The return on equity (ROE) of Korea Gas Corporation is 2.8% (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 Korea Gas Corporation (036460)?
On an EBIT basis the return on assets of Korea Gas Corporation is 3.7% (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 Korea Gas Corporation (036460)?
The operating margin of Korea Gas Corporation is 7.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Korea Gas Corporation (036460)?
Revenue at Korea Gas Corporation is growing −7.3% versus a year earlier (3y avg −11.6%). 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 Korea Gas Corporation (036460)?
Earnings per share at Korea Gas Corporation are growing +49.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Korea Gas Corporation (036460) generate?
The free cash flow of Korea Gas Corporation is 4.3T KRW (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Korea Gas Corporation (036460) carry?
The net debt of Korea Gas Corporation is 33.9T KRW (fiscal year 2025, ≈ 7.9 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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