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SeAH Steel Corporation (306200) Fair Value & Analysis

Basic Materials · KR · Market cap 387B KRW

SS SeAH Steel Corporation 306200 · KO
Price136,300 KRW
Fair Value211,200 KRW
Upside+55.0%
Quality39/100
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Expensive Growth
Thin margins · 2.1% net margin
Low debt · negative free cash flow
4.10% dividend yield
Mixed vs. peers (5/10)
Narrow moat 26/100
Evidence: Medium Range 158,400 KRW – 264,000 KRW Share as image

Fair value as of: Jul 24, 2026

From 15 valuation models · updated 17 days ago

Fair value updated Jul 24, 2026, revised from 179,807 KRW to 211,200 KRW (+17.5%) since Jul 9, 2026. Share price +11.3% over the past month.

Below-average quality, screening 55% undervalued on our models.

What matters now

  • The large discount to fair value meets weak quality (39/100). That raises the risk this is a value trap rather than a bargain.
  • The price is below even our cautious bear case (158,400 KRW). The market is more pessimistic than our downside scenario.
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Price vs Fair Value (5 years)

193,362 KRW 68,173 KRW Fair Value 211,200 KRW Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 24, 2026.

How to read this chart

60‑month range 68,173 KRW – 193,362 KRW · fair‑value band 158,400 KRW – 264,000 KRW · the 136,300 KRW price screens below the 211,200 KRW fair value. Dashed = 300-day average. As of Jul 24, 2026.

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Analysis

SeAH Steel Corporation (306200) currently trades at 136,300 KRW, while our model-based Fair Value estimate is 211,200 KRW, implying the stock looks roughly 55.0% undervalued today. The Quality Score stands at 39/100 (below-average quality), in the Basic Materials 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, SeAH Steel Corporation generated revenue of 1.6T KRW at a net margin of 2.1%. Revenue grew 18.4% year over year. It earns a return on equity of 2.9%. Net debt stands at 263B KRW. Fundamentals as of Jul 24, 2026

Our scenario range runs from 158,400 KRW (bear case) to 264,000 KRW (bull case); at 136,300 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 about 28% below its 52-week high and 27% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -25% fair-value upside, at 55%, 306200 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 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
Highest evidence
Residual Income 290,089 KRW 284,060 KRW 242,180 KRW 76
ROIC Compounder 60,382 KRW 75,813 KRW 89,529 KRW 72
Gordon GGM 66,474 KRW 100,610 KRW 138,199 KRW 70
All 15 models by family
DCF Models
Owner Earnings 48,270 KRW 81,137 KRW 130,151 KRW 31
Earnings-Based
Graham-Dodd 71,923 KRW 148,509 KRW 187,526 KRW 54
EPV 60,382 KRW 75,813 KRW 89,529 KRW 59
Dividend Discount
Gordon GGM 66,474 KRW 100,610 KRW 138,199 KRW 70
DDM Multi-Stage 66,474 KRW 96,188 KRW 131,811 KRW 61
Multiples
P/E Multiple 134,855 KRW 179,807 KRW 224,758 KRW 63
P/S Multiple 134,855 KRW 179,807 KRW 224,758 KRW 58
P/B Multiple 134,855 KRW 179,807 KRW 224,758 KRW 55
EV/EBIT 156,567 KRW 217,775 KRW 278,984 KRW 53
EV/EBITDA 197,289 KRW 272,071 KRW 346,853 KRW 54
EV/Revenue 132,084 KRW 200,287 KRW 268,491 KRW 43
Asset-Based
NCAV (Graham) 197,803 KRW 265,056 KRW 395,605 KRW 50
Economic Profit
Residual Income 290,089 KRW 284,060 KRW 242,180 KRW 76
ROIC Compounder 60,382 KRW 75,813 KRW 89,529 KRW 72
Growth Earnings
Growth-Adj P/E 99,776 KRW 142,537 KRW 185,299 KRW 68

Widest divergence: Asset-Based (265,056 KRW) versus Earnings-Based (75,813 KRW). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 1.6T KRW
Revenue growth (YoY) +18.4%
Net margin 2.1%
Return on equity 2.9%
Free cash flow −154B KRW FY2025
Operating margin 5.4%
More key figures
Dividend yield 3.9%
EPS growth (YoY) +10.1%
Net debt 263B KRW FY2025

Figures from reported company fundamentals · as of Jul 24, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 39/100

Of which business quality 39 · Market factors (momentum, volatility) 40

Profitability 28
Margins and returns on capital today
Quality Growth 20
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 57
Balance sheet, leverage, solvency risk
Investment 68
Disciplined investing over empire-building
Low Volatility 62
Calm price path (market factor)
Momentum 31
Price trend over the last 3–12 months (market factor)
52W Momentum 30
Distance to the 52-week high (market factor)
Net Issuance 82
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

SeAH Steel Corporation manufactures and sells steel products in South Korea. The company offers steel, structural steel, material, stainless steel, and titanium steel pipes. Its steel pipes are used for piping, electrical wires, oil pipelines and wells, boilers, and heat exchangers. The company is headquartered in Seoul, South Korea.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

SeAH Steel Corporation reported revenue of 1.5T KRW in FY2025 versus 1.5T KRW in FY2021, a compound −0.2%/yr. Reported net income was 30.0B KRW in FY2025, compounding −24.3%/yr from FY2021.

Growth Quality 31/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
1.5T KRW
Latest YoY
−17.9%
Avg. growth/yr (3Y) 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.
−6.2%
Avg. growth/yr (5Y) 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.
+5.2%
Avg. growth/yr (7Y) 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.
+19.2%
Revenue −0.2%/yr
FY21 1.5T KRW
FY22 1.8T KRW
FY23 1.9T KRW
FY24 1.8T KRW
FY25 1.5T KRW
Net income −24.3%/yr
FY21 91.4B KRW
FY22 159B KRW
FY23 189B KRW
FY24 137B KRW
FY25 30.0B KRW

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Cite: Fair Value Calculator (2026). "SeAH Steel Corporation Fair Value". https://www.fairvalue-calculator.com/stock/306200

Peer Group

Steel · 378 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 39 · Bottom 25%
Fair Value upside +55% · Top 25%
Return on equity (TTM) 3% · Below median
Return on assets 2% · Below median
Net margin (TTM) 2% · Below median
Operating margin (TTM) 5% · Above median
Revenue growth 18% · Top 25%
Dividend yield (TTM) 4.1% · Above median
Debt / equity 0.22× · Higher than median

Valuation Multiples vs Steel median · lower = cheaper

EV/EBITDA 0.9× · 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 100 · sector 19
FUTURE 92 · sector 4
PAST 11 · sector 15
HEALTH 89 · sector 95
DIVIDEND 82 · sector 41

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.

Similar stocks

10 more Steel stocks, each showing price versus our Fair Value estimate (as of Jul 24, 2026).

Stock Price Fair Value vs Fair Value
Tata Steel Limited TTST $0.2010 $0.2000 -0%
JSW Steel Limited JSWSTEEL ₹1,227 ₹1,140 -7%
Baoshan Iron & Steel Co 600019 ¥5.89 ¥8.07 +37%
China Steel Corporation 2002A 38.55 TWD 8.74 TWD -77%
POSCO Holdings 005490 313,500 KRW 155,270 KRW -50%
Companhia Siderúrgica Nacional, SID 13,670 ARS 15,940 ARS +17%
Jindal Steel Limited JINDALSTEL ₹1,028 ₹545.12 -47%
Lloyds Metals and Energy Limited LLOYDSME ₹1,844 ₹1,098 -40%
SSAB AB SSABA kr 96.04 kr 72.43 -25%
Gerdau S.A GGBN 83.50 MXN 42.64 MXN -49%

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Frequently asked questions

Is SeAH Steel Corporation (306200) overvalued or undervalued?
As of Jul 24, 2026, our model estimates a fair value of 211,200 KRW versus a price of 136,300 KRW, about +55% (undervalued).
What is the fair value of 306200?
Our model-based fair value for SeAH Steel Corporation is 211,200 KRW (as of Jul 24, 2026), built from audited fundamentals. The current price is 136,300 KRW.
What is the quality score of 306200?
SeAH Steel Corporation has a Quality Score of 39/100. 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 SeAH Steel Corporation (306200)?
SeAH Steel Corporation reported trailing-twelve-month revenue of about 1.6T KRW (latest available figure, as of Jul 24, 2026).
What is the net profit margin of 306200?
The net profit margin of SeAH Steel Corporation is about 2.1%, meaning it keeps roughly 2.1% of revenue as net income. Based on the latest reported figures.
Does SeAH Steel Corporation pay a dividend?
SeAH Steel Corporation currently shows a dividend yield of about 3.90% relative to its recent price (as of Jul 24, 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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