SPG Co (058610) Fair Value & Analysis

Industrials · KR · Market cap 1.6T KRW

A solid business, but screening 91% overvalued on our models.

What matters now

• The price sits above even our optimistic bull case (11,484 KRW). The favourable scenario is already priced in.
• Solid but not exceptional quality (58/100) and above fair value, neither a clear bargain nor a standout compounder.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 12, 2026.

How to read this chart

60‑month range 8,457 KRW – 158,100 KRW · fair‑value band 6,891 KRW – 11,484 KRW · the 101,700 KRW price screens above the 9,187 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 12, 2026.

Full chart & analysis →

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Analysis

SPG Co (058610) currently trades at 101,700 KRW, while our model-based Fair Value estimate is 9,187 KRW, implying the stock looks roughly 91.0% overvalued today. The Quality Score stands at 58/100 (solid quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, SPG Co generated revenue of 460B KRW at a net margin of 5.2%. Revenue declined 2.3% year over year. Net debt stands at 22.0B KRW. Fundamentals as of Jul 12, 2026

Our scenario range runs from 6,891 KRW (bear case) to 11,484 KRW (bull case); at 101,700 KRW, the current price sits above 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 39% below its 52-week high and 354% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -26% fair-value upside, at -91%, 058610 screens richer 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.

Widest divergence: Growth DCF (15,759 KRW) versus Earnings-Based (2,656 KRW). Highest evidence: Growth DCF (80).

Key figures & financial health

Quality Score breakdown

About the company

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.

Full company description

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. 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.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

SPG Co 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.

058610 screens 91% overvalued. Compare with NIBE Industrier AB →

Peer Group

Machinery, Tools, Heavy Vehicles, Trains & Ships · 35 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.

Valuation Multiples vs Machinery, Tools, Heavy Vehicles, Trains & Ships median · lower = cheaper

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 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

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

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Frequently asked questions

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.