Gyeongnam Steel Co. Ltd (039240) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Gyeongnam Steel Co. Ltd KRW 3,174, price KRW 1,891, upside +67.8%, quality 60 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 1,766 KRW – 10,036 KRW · fair‑value band 3,174 KRW – 3,938 KRW · the 1,891 KRW price screens below the 3,174 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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Gyeongnam Steel Co., Ltd engages in shearing, cutting, and processing of coil products. It is also involved in the sale of coils and sheet metal; and real estate rental business. The company was formerly known as Samhyun Steel and changed its name to Gyeongnam Steel Co. Ltd in 1995. The company was founded in 1990 and is based in Changwon-si, South Korea.
Stock analysis
Gyeongnam Steel Co. Ltd (039240) currently trades at 1,891 KRW, while our model-based Fair Value estimate is 3,174 KRW, implying the stock looks roughly 40.4% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 5,430 KRW per share, and 22 of the 22 models we run sit above the 1,891 KRW price.
Bear case: the Earnings-Based group reads lowest at 2,121 KRW, and 0 of the 22 models stay below the price. Evidence for this calculation is medium.
Scenario range: 3,174 KRW (bear) to 3,938 KRW (bull), the price of 1,891 KRW sits below 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 60/100 (solid quality), in the Basic Materials sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Gyeongnam Steel Co. Ltd reported revenue of 357B KRW in FY2025 versus 342B KRW in FY2021, a compound +1.1%/yr. Reported net income was 4.6B KRW in FY2025, compounding −6.8%/yr from FY2021.
Key figures
Market cap 51.0B KRW (≈ $37.5M) · P/S ratio 0.13 · Dividend yield 4.4% · Net margin 1.3% · Return on equity 652% · Return on assets (EBIT) 5.4% · Operating margin 3.1% · Revenue (TTM) 412B KRW.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 37 out of 100 (medium confidence).
What moves the price
The share trades about 38% below its 52-week high and 7% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at 1% fair-value upside, at 68%, 039240 screens cheaper than that median.
Fair Value models
Bear 3,174 KRWFair Value 3,174 KRWBull 3,938 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
−9.7%
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.
+3.7%
Start year 2020 (pandemic). Over 10 years: +2.1% a year
Revenue growth 11 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.
+2.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year−1.5%
Dividend (yield on the price)4.4%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−2% vs 18%, slowing
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% → 2%
Start year 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
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).
−21.8%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (South Korea: IMF forecast 2.1% a year to 2030, 2.1% from 2016 to 2025) that is about −23.4% a year for the price.
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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.Metals & Mining · 29 stocks
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is Gyeongnam Steel Co. Ltd (039240) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 3,174 KRW versus a price of 1,891 KRW, about +68% upside (undervalued).
What is the fair value of 039240?
Our model-based fair value for Gyeongnam Steel Co. Ltd is 3,174 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 1,891 KRW.
What is the quality score of 039240?
Gyeongnam Steel Co. Ltd has a Quality Score of 60/100. 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 Gyeongnam Steel Co. Ltd (039240)?
Our model-based price target is the fair value of 3,174 KRW (as of Sep 24, 2026) from 22 valuation models. Cautious scenario 3,174 KRW, optimistic scenario 3,938 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Gyeongnam Steel Co. Ltd stock forecast for 2026?
Our models put fair value at 3,174 KRW, about +68% upside versus a price of 1,891 KRW (undervalued). Cautious scenario 3,174 KRW, optimistic scenario 3,938 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Gyeongnam Steel Co. Ltd (039240)?
Gyeongnam Steel Co. Ltd reported trailing-twelve-month revenue of about 412B KRW (latest available figure, as of Sep 24, 2026).
Does Gyeongnam Steel Co. Ltd pay a dividend?
Gyeongnam Steel Co. Ltd currently shows a dividend yield of about 4.38% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Gyeongnam Steel Co. Ltd (039240)?
For today's price to be fair in a discounted-cash-flow model, Gyeongnam Steel Co. Ltd would have to grow free cash flow by -21.8 % per year for five years (discount rate 10.4 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +3.7 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 039240 use?
Our models discount Gyeongnam Steel Co. Ltd at 10.4 %: a base by market capitalisation (nano), damped by beta 1.11, 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 Gyeongnam Steel Co. Ltd that is -21.8 % per year a year over ten years, using the same discount rate (10.4 %) and the same formula as our fair value.
How much growth has Gyeongnam Steel Co. Ltd (039240) delivered so far?
Over the past 5 years revenue at Gyeongnam Steel Co. Ltd grew +3.7 % a year. The price currently implies -21.8 % 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 Gyeongnam Steel Co. Ltd (039240) growing?
The median revenue growth in the sector is +3.3 % a year. That is the yardstick for the growth priced into Gyeongnam Steel Co. Ltd (-21.8 % 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 Gyeongnam Steel Co. Ltd (039240)?
The free-cash-flow yield on the price is 30.51 %: that much free cash flow Gyeongnam Steel Co. Ltd produces per unit of market value. When it exceeds the discount rate of our models (10.4 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Gyeongnam Steel Co. Ltd (039240)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Gyeongnam Steel Co. Ltd it is 3,174 KRW per share (as of Sep 24, 2026), against a price of 1,891 KRW. It is the blended result of 22 valuation models (cash flow, earnings, asset, dividend).
Is Gyeongnam Steel Co. Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 039240 trades below its calculated fair value: price 1,891 KRW, fair value 3,174 KRW, a gap of about +68% (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 039240?
No. The price is what the market pays today (1,891 KRW); the fair value is what the company's own numbers justify (3,174 KRW). For Gyeongnam Steel Co. Ltd the two are 1,283 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Gyeongnam Steel Co. Ltd worth?
The market values Gyeongnam Steel Co. Ltd at about 51.0B KRW (market capitalisation, as of Sep 24, 2026). Per share that is 1,891 KRW; our models calculate a fair value of 3,174 KRW per share.
What do the bullish and bearish scenarios say about 039240?
Our models span a range for Gyeongnam Steel Co. Ltd: cautious scenario 3,174 KRW, base 3,174 KRW, optimistic 3,938 KRW per share (as of Sep 24, 2026, price 1,891 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How far is 039240 from its 52-week high?
Gyeongnam Steel Co. Ltd trades at 1,891 KRW, about 38% below its 52-week high of 3,040 KRW and 7% above the low of 1,766 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 3,174 KRW is for.
Which stocks are comparable to Gyeongnam Steel Co. Ltd?
From the same area (Basic Materials) we also value NIKL, PX, LC, LCB, 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 Gyeongnam Steel Co. Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price 1,891 KRW, calculated fair value 3,174 KRW (+68%), Quality Score 60/100, 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 039240 calculated?
We run Gyeongnam Steel Co. Ltd 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 3,174 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. Gyeongnam Steel Co. Ltd currently trades 68 % 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 Gyeongnam Steel Co. Ltd (039240)?
The closing price on Sep 23, 2026 was 1,891 KRW. Our model-based fair value is 3,174 KRW, about +68% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Gyeongnam Steel Co. Ltd right now?
The price is below even our cautious bear case (3,174 KRW). The market is more pessimistic than our downside scenario. Solid quality (60/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of Gyeongnam Steel Co. Ltd
How large is the market capitalisation of Gyeongnam Steel Co. Ltd (039240)?
The market capitalisation of Gyeongnam Steel Co. Ltd is 51.0B KRW (≈ $37.5M). 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 Gyeongnam Steel Co. Ltd (039240)?
The price-to-sales ratio of Gyeongnam Steel Co. Ltd is 0.13 (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 Gyeongnam Steel Co. Ltd (039240)?
The dividend yield of Gyeongnam Steel Co. Ltd is 4.4%. 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 Gyeongnam Steel Co. Ltd (039240)?
The net margin of Gyeongnam Steel Co. Ltd is 1.3% (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 Gyeongnam Steel Co. Ltd (039240)?
The return on equity (ROE) of Gyeongnam Steel Co. Ltd is 652% (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 Gyeongnam Steel Co. Ltd (039240)?
On an EBIT basis the return on assets of Gyeongnam Steel Co. Ltd is 5.4% (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 Gyeongnam Steel Co. Ltd (039240)?
The operating margin of Gyeongnam Steel Co. Ltd is 3.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Gyeongnam Steel Co. Ltd (039240)?
Revenue at Gyeongnam Steel Co. Ltd is growing +14.4% 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 Gyeongnam Steel Co. Ltd (039240)?
Earnings per share at Gyeongnam Steel Co. Ltd are growing +75.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Gyeongnam Steel Co. Ltd (039240) carry?
The net debt of Gyeongnam Steel Co. Ltd is 9.5B KRW (fiscal year 2024, ≈ 0.6 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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