GS Holdings Corp (078935) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of GS Holdings Corp KRW 117,400, price KRW 59,100, upside +98.7%, quality 53 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 24,708 KRW – 65,900 KRW · fair‑value band 52,753 KRW – 168,546 KRW · the 59,100 KRW price screens below the 117,400 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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GS Holdings Corp., together its subsidiaries, engages in the energy, power generation, retail, service, construction, and infrastructure businesses.
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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.
Stock analysis
GS Holdings Corp (078935) currently trades at 59,100 KRW, while our model-based Fair Value estimate is 117,400 KRW, implying the stock looks roughly 49.7% undervalued today.
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Valuation
Bull case: the Earnings-Based group reads highest at a median of 145,515 KRW per share, and 9 of the 11 models we run sit above the 59,100 KRW price.
Bear case: the Growth DCF group reads lowest at 29,481 KRW, and 2 of the 11 models stay below the price. Evidence for this calculation is medium.
Scenario range: 52,753 KRW (bear) to 168,546 KRW (bull), the price of 59,100 KRW sits inside 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 53/100 (solid quality), in the Industrials sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
GS Holdings Corp 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.
Key figures
Market cap 5.6T KRW (≈ $4.2B) · P/S ratio 0.20 · Dividend yield 5.2% · Net margin 3.2% · Return on equity 8.3% · Return on assets (EBIT) 10.2% · Operating margin 18.4% · Revenue (TTM) 25.8T KRW.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (medium confidence).
What moves the price
The share trades about 10% below its 52-week high and 46% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −16% fair-value upside, at 99%, 078935 screens cheaper than that median.
Fair Value models
Bear 52,753 KRWFair Value 117,400 KRWBull 168,546 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. 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.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
−0.3%
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.
−4.3%
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.
+10.3%
Start year 2020 (pandemic). Over 10 years: +7.5% 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.
+7.9%
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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. 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.
+15.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+10.6%
Dividend (yield on the price)5.2%
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.6% → 12%
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
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).
+22.4%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+1.5%
Yearly sales growth analysts expect, extended to five years.
After inflation (South Korea: IMF forecast 2.1% a year to 2030, 2.1% from 2016 to 2025) that is about +19.9% a year for the price and −0.6% for the forecasts.
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.Conglomerates · 358 stocks
Beats the industry median on 9/10 measures
Overall it ranks above its industry peers.
Valuation
Quality Score53 · Above median
Fair Value upside+98.6% · Top 25%
Profitability
Return on equity (TTM)8.3% · Above median
Return on assets6.2% · Top 25%
Net margin (TTM)5.1% · Above median
Operating margin (TTM)18.4% · Top 25%
Growth and dividend
Revenue growth9.9% · Above median
Dividend yield (TTM)5.2% · Top 25%
Balance sheet
Debt / equity0.39× · Above median
Valuation Multiplesvs Conglomerates median · lower = cheaper
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Is GS Holdings Corp (078935) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 117,400 KRW versus a price of 59,100 KRW, about +99% upside (undervalued).
What is the fair value of 078935?
Our model-based fair value for GS Holdings Corp is 117,400 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 59,100 KRW.
What is the quality score of 078935?
GS Holdings Corp 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 price target for GS Holdings Corp (078935)?
Our model-based price target is the fair value of 117,400 KRW (as of Sep 24, 2026) from 11 valuation models. Cautious scenario 52,753 KRW, optimistic scenario 168,546 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the GS Holdings Corp stock forecast for 2026?
Our models put fair value at 117,400 KRW, about +99% upside versus a price of 59,100 KRW (undervalued). Cautious scenario 52,753 KRW, optimistic scenario 168,546 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of GS Holdings Corp (078935)?
GS Holdings Corp reported trailing-twelve-month revenue of about 25.8T KRW (latest available figure, as of Sep 24, 2026).
Does GS Holdings Corp pay a dividend?
GS Holdings Corp currently shows a dividend yield of about 5.16% relative to its recent price (as of Sep 24, 2026).
What growth is priced into GS Holdings Corp (078935)?
For today's price to be fair in a discounted-cash-flow model, GS Holdings Corp would have to grow free cash flow by +22.4 % per year for five years (discount rate 9.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +10.3 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 078935 use?
Our models discount GS Holdings Corp at 9.0 %: a base by market capitalisation (mid), damped by beta 0.56, 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 GS Holdings Corp that is +22.4 % per year a year over ten years, using the same discount rate (9.0 %) and the same formula as our fair value.
How much growth has GS Holdings Corp (078935) delivered so far?
Over the past 5 years revenue at GS Holdings Corp grew +10.3 % a year. The price currently implies +22.4 % 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 GS Holdings Corp (078935) growing?
The median revenue growth in the sector is +7.0 % a year. That is the yardstick for the growth priced into GS Holdings Corp (+22.4 % 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 GS Holdings Corp (078935)?
The free-cash-flow yield on the price is 5.05 %: that much free cash flow GS Holdings Corp produces per unit of market value. When it exceeds the discount rate of our models (9.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of GS Holdings Corp (078935)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For GS Holdings Corp it is 117,400 KRW per share (as of Sep 24, 2026), against a price of 59,100 KRW. It is the blended result of 11 valuation models (cash flow, earnings, asset, dividend).
Is GS Holdings Corp stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 078935 trades below its calculated fair value: price 59,100 KRW, fair value 117,400 KRW, a gap of about +99% (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 078935?
No. The price is what the market pays today (59,100 KRW); the fair value is what the company's own numbers justify (117,400 KRW). For GS Holdings Corp the two are 58,300 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is GS Holdings Corp worth?
The market values GS Holdings Corp at about 5.6T KRW (market capitalisation, as of Sep 24, 2026). Per share that is 59,100 KRW; our models calculate a fair value of 117,400 KRW per share.
What do the bullish and bearish scenarios say about 078935?
Our models span a range for GS Holdings Corp: cautious scenario 52,753 KRW, base 117,400 KRW, optimistic 168,546 KRW per share (as of Sep 24, 2026, price 59,100 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of GS Holdings Corp (078935)?
Balance-sheet figures for GS Holdings Corp (as of Sep 24, 2026): return on equity 8.3%, debt of 0.39 per unit of equity. They feed the Quality Score of 53/100, which measures business quality independently of the share price.
How far is 078935 from its 52-week high?
GS Holdings Corp trades at 59,100 KRW, about 10% below its 52-week high of 65,900 KRW and 46% above the low of 40,403 KRW (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of 117,400 KRW is for.
Which stocks are comparable to GS Holdings Corp?
From the same area (Industrials) we also value 3M Company, Honeywell International Inc, CITIC Limited, Swire Pacific Limited, 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 GS Holdings Corp stock attractive at the current price?
The data as of Sep 24, 2026: price 59,100 KRW, calculated fair value 117,400 KRW (+99%), Quality Score 53/100, from 11 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 078935 calculated?
We run GS Holdings Corp through 11 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 117,400 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 14.5 % above its aggregate fair value. GS Holdings Corp currently trades 50 % 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 GS Holdings Corp (078935)?
The closing price on Oct 2, 2026 was 59,100 KRW. Our model-based fair value is 117,400 KRW, about +99% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with GS Holdings Corp right now?
The model range is unusually wide (52,753 KRW to 168,546 KRW). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid quality (53/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of GS Holdings Corp
How large is the market capitalisation of GS Holdings Corp (078935)?
The market capitalisation of GS Holdings Corp is 5.6T KRW (≈ $4.2B). 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 GS Holdings Corp (078935)?
The price-to-sales ratio of GS Holdings Corp is 0.20 (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 GS Holdings Corp (078935)?
The dividend yield of GS Holdings Corp is 5.2%. 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 GS Holdings Corp (078935)?
The net margin of GS Holdings Corp is 3.2% (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 GS Holdings Corp (078935)?
The return on equity (ROE) of GS Holdings Corp is 8.3% (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 GS Holdings Corp (078935)?
On an EBIT basis the return on assets of GS Holdings Corp is 10.2% (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 GS Holdings Corp (078935)?
The operating margin of GS Holdings Corp is 18.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at GS Holdings Corp (078935)?
Revenue at GS Holdings Corp is growing +9.9% versus a year earlier (3y avg −4.3%). 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 GS Holdings Corp (078935)?
Earnings per share at GS Holdings Corp are growing +253% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does GS Holdings Corp (078935) carry?
The net debt of GS Holdings Corp is 6.8T KRW (fiscal year 2025, ≈ 24.1 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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