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GS Holdings (078930) Fair Value & Analysis

Industrials · KR · Market cap 7.7T KRW

GH GS Holdings 078930 · KO
Price98,900 KRW
Fair Value146,170 KRW
Upside+47.8%
Quality53/100
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Mixed Growth
Thin margins · 5.1% net margin
Low debt · generates free cash flow
3.77% dividend yield
Ranks above peers (10/11)
Moderate moat 47/100
Evidence: Medium Range 109,627 KRW – 182,712 KRW Share as image

Fair value as of: Jul 16, 2026

From 9 valuation models · updated 25 days ago

Fair value updated Jul 16, 2026, revised from 128,400 KRW to 146,170 KRW (+13.8%) since Jun 26, 2026. Share price +25.8% over the past month.

A solid business, screening 48% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (109,627 KRW). The market is more pessimistic than our downside scenario.
  • Solid quality (53/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

98,900 KRW 28,457 KRW Fair Value 146,170 KRW Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.

How to read this chart

60‑month range 28,457 KRW – 98,900 KRW · fair‑value band 109,627 KRW – 182,712 KRW · the 98,900 KRW price screens below the 146,170 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 16, 2026.

Full chart & analysis →

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Analysis

GS Holdings (078930) currently trades at 98,900 KRW, while our model-based Fair Value estimate is 146,170 KRW, implying the stock looks roughly 47.8% undervalued today. The Quality Score stands at 53/100 (solid quality), in the Industrials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.

Over the trailing twelve months, GS Holdings generated revenue of 25.8T KRW at a net margin of 5.1%. Revenue grew 9.9% year over year. It earns a return on equity of 8.3%. Net debt stands at 6.8T KRW. Fundamentals as of Jul 16, 2026

Our scenario range runs from 109,627 KRW (bear case) to 182,712 KRW (bull case); at 98,900 KRW, the current price sits below 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 near its 52-week high and 141% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -14% fair-value upside, at 48%, 078930 screens cheaper 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.

Model BearBaseBull Evidence
Highest evidence
Growth DCF 7,681 KRW 31,867 KRW 80
Residual Income 124,787 KRW 128,067 KRW 128,181 KRW 76
Rev-Margin DCF 108,235 KRW 221,266 KRW 343,626 KRW 74
All 9 models by family
DCF Models
5Y P/E Exit 19,403 KRW 62,805 KRW 107,050 KRW 38
10Y P/E Exit 8,645 KRW 43,661 KRW 84,694 KRW 35
Earnings-Based
Graham-Dodd 58,468 KRW 152,001 KRW 198,184 KRW 54
Multiples
P/E Multiple 90,281 KRW 120,375 KRW 150,469 KRW 63
P/B Multiple 109,627 KRW 146,170 KRW 182,712 KRW 55
Asset-Based
NCAV (Graham) 79,139 KRW 106,046 KRW 158,278 KRW 50
Growth DCF
Growth DCF 7,681 KRW 31,867 KRW 80
Rev-Margin DCF 108,235 KRW 221,266 KRW 343,626 KRW 74
Economic Profit
Residual Income 124,787 KRW 128,067 KRW 128,181 KRW 76

Widest divergence: Earnings-Based (152,001 KRW) versus Growth DCF (7,681 KRW). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 25.8T KRW
Revenue growth (YoY) +9.9%
Net margin 5.1%
Return on equity 8.3%
Free cash flow 282B KRW FY2025
Operating margin 18.4%
More key figures
Dividend yield 4.1%
EPS growth (YoY) +253%
Net debt 6.8T KRW FY2025

Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 53/100

Of which business quality 50 · Market factors (momentum, volatility) 82

Profitability 33
Margins and returns on capital today
Quality Growth 52
Are margins and returns improving?
Cashflow 40
Earnings quality: real cash, not paper profit
Fin. Strength 46
Balance sheet, leverage, solvency risk
Investment 77
Disciplined investing over empire-building
Low Volatility 58
Calm price path (market factor)
Momentum 88
Price trend over the last 3–12 months (market factor)
52W Momentum 100
Distance to the 52-week high (market factor)
Net Issuance 72
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

GS Holdings Corp., together its subsidiaries, engages in the energy, power generation, retail, service, construction, and infrastructure businesses.

Full company description

GS Holdings Corp., together its subsidiaries, engages in the energy, power generation, retail, service, construction, and infrastructure businesses. The company supplies heating and cooling facilities; composite resin; electricity and steam by operating coal power plant and wind power farms; produces electricity through combined heat and power plant; provides LNG to power distribution companies; bio diesel; exports refined oils, lubricants, aromatics, and polymers; collects wastes and converts them into rare metals; manufactures wind turbines; operates shipping fleet, comprising petrochemical tankers and gas carriers; and provides petroleum product distribution, transportation, and car sharing services. It operates a convenience store under the GS25 brand; retail chain under the GS THE FRESH brand; GS SHOP, a live commerce store; and hotel under the Parnas brand. In addition, the company manufactures and processes ready-to-eat foods; provides media and marketing services, such as mobile coupons, advertisement placement and content, and digital signage; manages the FC Seoul soccer team and GS Caltex Seoul Kixx volleyball team; and processes rebar for construction sites. Further, it offers home network systems, real estate asset management, and residential customer support; operation and maintenance services for oil, gas, petrochemical, and power generation and environmental plants; and operates golf and ski resort with condominiums and leisure amenities. The company was founded in 2004 and is based in Seoul, South Korea.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

GS Holdings reported revenue of 25.2T KRW in FY2025 versus 20.2T KRW in FY2021, a compound +5.6%/yr. Reported net income was 799B KRW in FY2025, compounding −13.8%/yr from FY2021.

Growth Quality 62/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
25.2T KRW
Latest YoY
−0.3%
Avg. growth/yr (3Y)
−4.3%
Avg. growth/yr (5Y)
+10.3%
Avg. growth/yr (21Y)
+4.6%
Revenue +5.6%/yr
FY21 20.2T KRW
FY22 28.8T KRW
FY23 26.0T KRW
FY24 25.2T KRW
FY25 25.2T KRW
Net income −13.8%/yr
FY21 1.4T KRW
FY22 2.1T KRW
FY23 1.3T KRW
FY24 567B KRW
FY25 799B KRW

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Cite: Fair Value Calculator (2026). "GS Holdings Fair Value". https://www.fairvalue-calculator.com/stock/078930

Peer Group

Conglomerates · 370 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.

Quality Score 53 · Above median
Fair Value upside +48% · Top 25%
Return on equity (TTM) 8% · Above median
Return on assets 6% · Top 25%
Net margin (TTM) 5% · Above median
Operating margin (TTM) 18% · Top 25%
Revenue growth 10% · Above median
Dividend yield (TTM) 3.8% · Top 25%
Debt / equity 0.39× · Higher than median

Valuation Multiples vs Conglomerates median · lower = cheaper

P/FCF 0.0× · Cheaper than 75% of peers
EV/EBITDA 1.0× · Cheaper than 75% of peers

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 97 · sector 21
FUTURE 50 · sector 16
PAST 33 · sector 20
HEALTH 80 · sector 88
DIVIDEND 75 · sector 39

Values & ESG

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

None of the checked exposures detected

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

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10 more Conglomerates stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).

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Grupo Carso, S.A. GCARSOA1 127.02 MXN 66.21 MXN -48%
The Siam Cement Public Company SCC 254.00 THB 199.40 THB -21%
SRF Limited SRF ₹2,875 ₹1,053 -63%
Empresas Copec S.A COPEC 6,330 CLP 10,879 CLP +72%
Posco International Corporation 047050 50,900 KRW 61,248 KRW +20%
Tube Investments of India Limited TIINDIA ₹2,940 ₹559.30 -81%

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Frequently asked questions

Is GS Holdings (078930) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of 146,170 KRW versus a price of 98,900 KRW, about +48% (undervalued).
What is the fair value of 078930?
Our model-based fair value for GS Holdings is 146,170 KRW (as of Jul 16, 2026), built from audited fundamentals. The current price is 98,900 KRW.
What is the quality score of 078930?
GS Holdings has a Quality Score of 53/100. 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 revenue of GS Holdings (078930)?
GS Holdings reported trailing-twelve-month revenue of about 25.8T KRW (latest available figure, as of Jul 16, 2026).
What is the net profit margin of 078930?
The net profit margin of GS Holdings is about 5.1%, meaning it keeps roughly 5.1% of revenue as net income. Based on the latest reported figures.
Does GS Holdings pay a dividend?
GS Holdings currently shows a dividend yield of about 4.05% relative to its recent price (as of Jul 16, 2026).

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.

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