SPG Co. Ltd (058610) fair value: what the stock is really worth
As of Oct 23, 2026: fair value (intrinsic value) of SPG Co. Ltd stock KRW 10,115, price KRW 77,800, upside -87.0%, quality 58 out of 100. Rating: strongly overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
Fair value above price?No
Good quality?Yes
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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 Oct 24, 2026.
How to read this chart
60‑month range 9,008 KRW – 158,100 KRW · fair‑value band 6,891 KRW – 13,467 KRW · the 77,800 KRW price screens above the 10,115 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 Oct 24, 2026.
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SPG Co., Ltd. manufactures and sells motors in South Korea. The company offers standard AC motors, including induction, reversible, electromagnetic brake, terminal box type, speed controller, and control motors, as well as gear heads, digital speed indicators, and brake packs.
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It also provides compact, standard, worm geared, and special type standard DC motors; standard BLDC geared motors; and standard AC geared motors.
In addition, the company offers BLDC fan motors, such as brushless motors; hollow rotary table gearheads; industrial motors/geared motors; planetary gear heads; shaded pole geared motors; spiral bevel gearheads; and capacitor run geared motors comprising induction geared and reaction geared motors.
It also exports its products. The company was formerly known as SUNGSHIN P & IND, Co., Ltd and changed its name to SPG Co., Ltd. in January 2000. SPG Co., Ltd. was founded in 1991 and is based in Incheon, South Korea.
Stock analysis
SPG Co. Ltd (058610) currently trades at 77,800 KRW, while our model-based Fair Value estimate is 10,115 KRW, 87.0% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of 14,599 KRW per share, and 0 of the 26 models we run sit above the 77,800 KRW price.
Bear case: the Earnings-Based group reads lowest at 2,656 KRW, and 26 of the 26 models stay below the price. Data coverage for this calculation is low.
Scenario range: 6,891 KRW (bear) to 13,467 KRW (bull), the price of 77,800 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 58/100 (solid quality), in the Industrials sector.
Mixed Growth: Spin-off in 2025: revenue and profit before it include the divested business. Growth is measured afresh from 2025.
SPG Co. Ltd reported revenue of 342B KRW in FY2025 versus 416B KRW in FY2021, a compound −4.8%/yr. Reported net income was 9.1B KRW in FY2025, compounding −20.5%/yr from FY2021.
Key figures
Market cap 2.3T KRW (≈ $1.7B) Small · P/S ratio 4.95 · Dividend yield 2.0% · Net margin 5.2% · Return on equity 575% · Return on assets (EBIT) 5.1% · Operating margin 5.8% · Revenue (TTM) 460B KRW.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 34 out of 100 (low confidence).
What moves the price
The share trades about 51% below its 52-week high and 162% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at 10% fair-value upside, at −87%, 058610 screens richer than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely (2,656 KRW to 55,009 KRW). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear6,891 KRWFair Value 10,115 KRWBull13,467 KRW
Price 77,800 KRW · Upside -87.0%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = 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 2025: revenue and profit before it include the divested business. Growth is measured afresh from 2025.
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.
−2.3%
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.
+4.3%
Revenue growth 16 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.
+10.3%
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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.
−7.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year−9.3%
Dividend (yield on the price)2.0%
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.−9.3% vs −6.9%, steady
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.5% → 5%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more 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).
+41.1%
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 +38.2% a year for the price.
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 SPG Co. Ltd (058610) overvalued or undervalued?
As of Oct 24, 2026, our model estimates a fair value of 10,115 KRW versus a price of 77,800 KRW, about −87% upside (overvalued).
What is the fair value of 058610?
Our model-based fair value for SPG Co. Ltd is 10,115 KRW (as of Oct 24, 2026), built from audited fundamentals. The current price: 77,800 KRW.
What is the quality score of 058610?
SPG Co. Ltd has a Quality Score of 58/100. 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 SPG Co. Ltd (058610)?
Our model-based price target is the fair value of 10,115 KRW (as of Oct 24, 2026) from 26 valuation models. Cautious scenario 6,891 KRW, optimistic scenario 13,467 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the SPG Co. Ltd stock forecast for 2026?
Our models put fair value at 10,115 KRW, about −87% upside versus a price of 77,800 KRW (overvalued). Cautious scenario 6,891 KRW, optimistic scenario 13,467 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of SPG Co. Ltd (058610)?
SPG Co. Ltd reported trailing-twelve-month revenue of about 460B KRW (latest available figure, as of Oct 24, 2026).
Does SPG Co. Ltd pay a dividend?
SPG Co. Ltd currently shows a dividend yield of 2.02% relative to its recent price (as of Oct 24, 2026).
What growth is priced into SPG Co. Ltd (058610)?
For today's price to be fair in a discounted-cash-flow model, SPG Co. Ltd would have to grow free cash flow by +41.1 % 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 -0.8 % per year. As of Oct 24, 2026.
What discount rate (WACC) does the fair value of 058610 use?
Our models discount SPG Co. Ltd at 11.6 %: a base by market capitalisation (small), damped by beta 0.98, 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 SPG Co. Ltd that is +41.1 % 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 SPG Co. Ltd (058610) delivered so far?
Over the past 5 years revenue at SPG Co. Ltd grew -0.8 % a year. The price currently implies +41.1 % 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 SPG Co. Ltd (058610) growing?
The median revenue growth in the sector is +7.6 % a year. That is the yardstick for the growth priced into SPG Co. Ltd (+41.1 % 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 SPG Co. Ltd (058610)?
The free-cash-flow yield on the price is 1.35 %: that much free cash flow SPG Co. Ltd 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 SPG Co. Ltd (058610)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For SPG Co. Ltd it is 10,115 KRW per share (as of Oct 24, 2026), against a price of 77,800 KRW. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is SPG Co. Ltd stock overvalued or undervalued in 2026?
As of Oct 24, 2026, 058610 trades above its calculated fair value: price 77,800 KRW, fair value 10,115 KRW, a gap of about −87% (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 058610?
No. The price is what the market pays today (77,800 KRW); the fair value is what the company's own numbers justify (10,115 KRW). For SPG Co. Ltd the two are 67,685 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is SPG Co. Ltd worth?
The market values SPG Co. Ltd at about 2.3T KRW (market capitalisation, as of Oct 24, 2026). Per share that is 77,800 KRW; our models calculate a fair value of 10,115 KRW per share.
What do the bullish and bearish scenarios say about 058610?
Our models span a range for SPG Co. Ltd: cautious scenario 6,891 KRW, base 10,115 KRW, optimistic 13,467 KRW per share (as of Oct 24, 2026, price 77,800 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of SPG Co. Ltd (058610)?
Balance-sheet figures for SPG Co. Ltd (as of Oct 24, 2026): debt of 0.04 per unit of equity. They feed the Quality Score of 58/100, which measures business quality independently of the share price.
How far is 058610 from its 52-week high?
SPG Co. Ltd trades at 77,800 KRW, about 51% below its 52-week high of 158,100 KRW and 162% above the low of 29,647 KRW (as of Oct 23, 2026). Distance from the high says nothing about value: that is what the fair value of 10,115 KRW is for.
Which stocks are comparable to SPG Co. Ltd?
From the same area (Industrials) we also value Sungho Electronics Corp, BHI Co, VITZROCELL Co, Tae Kwang Corporation, 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 SPG Co. Ltd stock attractive at the current price?
The data as of Oct 24, 2026: price 77,800 KRW, calculated fair value 10,115 KRW (−87%), Quality Score 58/100, from 26 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 058610 calculated?
We run SPG Co. Ltd through 26 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 10,115 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 12.3 % above its aggregate fair value. SPG Co. Ltd 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 SPG Co. Ltd (058610)?
The closing price on Oct 23, 2026 was 77,800 KRW. Our model-based fair value is 10,115 KRW, about −87% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with SPG Co. Ltd right now?
The price sits above even our optimistic bull case (13,467 KRW). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (58/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (6,891 KRW to 13,467 KRW) leaves room in how you read the outcome.
Key figures of SPG Co. Ltd
How large is the market capitalisation of SPG Co. Ltd (058610)?
The market capitalisation of SPG Co. Ltd is 2.3T KRW (≈ $1.7B). 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 SPG Co. Ltd (058610)?
The price-to-sales ratio of SPG Co. Ltd is 4.95 (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 SPG Co. Ltd (058610)?
The dividend yield of SPG Co. Ltd is 2.0%. 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 SPG Co. Ltd (058610)?
The net margin of SPG Co. Ltd is 5.2% (last twelve months). 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 SPG Co. Ltd (058610)?
The return on equity (ROE) of SPG Co. Ltd is 575% (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 SPG Co. Ltd (058610)?
On an EBIT basis the return on assets of SPG Co. Ltd is 5.1% (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 SPG Co. Ltd (058610)?
The operating margin of SPG Co. Ltd is 5.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at SPG Co. Ltd (058610)?
Revenue at SPG Co. Ltd is growing −2.3% versus a year earlier (3y avg −8.1%). 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 SPG Co. Ltd (058610)?
Earnings per share at SPG Co. Ltd are growing −54.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does SPG Co. Ltd (058610) carry?
The net debt of SPG Co. Ltd is 22.0B KRW (fiscal year 2025, ≈ 0.9 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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Thin data
Oct 24, 2026