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SK Square Co (402340) Fair Value & Analysis

Technology · KR · Market cap 160T KRW

SS SK Square Co 402340 · KO
Price970,000 KRW
Fair Value868,000 KRW
Upside-10.5%
Quality70/100
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Expensive Growth
Highly profitable · 91.6% net margin
Low debt · generates free cash flow
0.13% dividend yield
Ranks above peers (9/10)
Wide moat 92/100
Evidence: High Range 472,146 KRW – 1,885,735 KRW Share as image

Fair value as of: Jul 17, 2026

From 26 valuation models · updated 21 days ago

Share price −28.5% over the past month.

A solid business, but screening 11% overvalued on our models.

What matters now

  • The model range is unusually wide (472,146 KRW to 1,885,735 KRW). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Our model range runs from 472,146 KRW (bear) to 1,885,735 KRW (bull), base 868,000 KRW. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 70/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

1,970,000 KRW 31,958 KRW Fair Value 868,000 KRW Nov 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 17, 2026.

How to read this chart

56‑month range 31,958 KRW – 1,970,000 KRW · fair‑value band 472,146 KRW – 1,885,735 KRW · the 970,000 KRW price screens above the 868,000 KRW fair value. Dashed = 300-day average. As of Jul 17, 2026.

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Analysis

SK Square Co (402340) currently trades at 970,000 KRW, while our model-based Fair Value estimate is 868,000 KRW, implying the stock looks roughly 10.5% overvalued today. We read business quality at 70/100 (solid quality), in the Technology 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, SK Square Co generated revenue of 17.0T KRW at a net margin of 91.6%. It earns a return on equity of 54.4%. Net debt stands at 1.0T KRW. Fundamentals as of Jul 17, 2026

Our scenario range runs from 472,146 KRW (bear case) to 1,885,735 KRW (bull case); at 970,000 KRW, the current price sits within 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 3% below its 52-week high, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -62% fair-value upside, at -11%, 402340 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 54,452 KRW 102,710 KRW 183,756 KRW 80
Residual Income 599,330 KRW 984,384 KRW 15,568,800 KRW 76
Rev-Margin DCF 152,066 KRW 291,992 KRW 582,731 KRW 74
All 26 models by family
DCF Models
FCF DCF 57,168 KRW 86,089 KRW 180,657 KRW 38
Owner Earnings 1,129,486 KRW 2,633,138 KRW 5,930,950 KRW 31
5Y Revenue Exit 137,194 KRW 256,927 KRW 509,769 KRW 39
5Y EBITDA Exit 529,769 KRW 1,051,020 KRW 2,077,941 KRW 41
5Y P/E Exit 798,092 KRW 2,021,182 KRW 3,731,274 KRW 38
10Y Revenue Exit 111,382 KRW 296,210 KRW 433,701 KRW 36
10Y EBITDA Exit 411,000 KRW 1,161,505 KRW 2,553,372 KRW 37
10Y P/E Exit 611,279 KRW 1,752,930 KRW 3,732,301 KRW 35
Earnings-Based
Graham-Dodd 455,237 KRW 3,174,757 KRW 4,455,297 KRW 54
Lynch FV 1,640,192 KRW 2,343,131 KRW 3,046,071 KRW 50
PEG = 1.0 1,640,192 KRW 2,343,131 KRW 3,046,071 KRW 46
EPV 610,638 KRW 716,643 KRW 810,870 KRW 59
Dividend Discount
Gordon GGM 131.36 KRW 286.78 KRW 482.52 KRW 70
DDM Multi-Stage 131.36 KRW 234.92 KRW 298.87 KRW 61
Multiples
P/E Multiple 1,004,199 KRW 1,338,932 KRW 1,673,665 KRW 63
P/S Multiple 148,732 KRW 198,310 KRW 247,887 KRW 58
P/B Multiple 471,762 KRW 629,016 KRW 786,269 KRW 55
EV/EBIT 910,986 KRW 1,211,333 KRW 1,511,681 KRW 53
EV/EBITDA 666,823 KRW 885,784 KRW 1,104,744 KRW 54
EV/Revenue 148,759 KRW 208,252 KRW 267,744 KRW 43
Asset-Based
NCAV (Graham) 104,836 KRW 140,480 KRW 209,672 KRW 50
Growth DCF
Growth DCF 54,452 KRW 102,710 KRW 183,756 KRW 80
Rev-Margin DCF 152,066 KRW 291,992 KRW 582,731 KRW 74
Economic Profit
Residual Income 599,330 KRW 984,384 KRW 15,568,800 KRW 76
ROIC Compounder 832,838 KRW 1,353,450 KRW 1,970,322 KRW 72
Growth Earnings
Growth-Adj P/E 2,113,504 KRW 3,019,292 KRW 3,925,080 KRW 68

Widest divergence: Growth Earnings (3,019,292 KRW) versus Dividend Discount (234.92 KRW). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 17.0T KRW
Revenue growth (YoY) +319%
Net margin 91.6%
Return on equity 54.4%
Free cash flow 349B KRW FY2025
Operating margin 96.1%
More key figures
Dividend yield 0.1%
EPS growth (YoY) +420%
Net debt 1.0T KRW FY2022

Figures from reported company fundamentals · as of Jul 17, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 70/100

Of which business quality 70 · Market factors (momentum, volatility) 61

Profitability 75
Margins and returns on capital today
Quality Growth 83
Are margins and returns improving?
Cashflow 36
Earnings quality: real cash, not paper profit
Fin. Strength 83
Balance sheet, leverage, solvency risk
Investment 51
Disciplined investing over empire-building
Low Volatility 0
Calm price path (market factor)
Momentum 97
Price trend over the last 3–12 months (market factor)
52W Momentum 70
Distance to the 52-week high (market factor)
Net Issuance 96
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

SK Square Co., Ltd. invests in semiconductor, and information and communication technologies in South Korea, China, Asia, the United States, and Europe. SK Square Co., Ltd. was founded in 2021 and is headquartered in Icheon-si, South Korea.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

SK Square Co reported revenue of 10.5T KRW in FY2025 versus 1.1T KRW in FY2021, a compound +73.8%/yr. Reported net income was 8.8T KRW in FY2025, compounding +120.2%/yr from FY2021.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
10.5T KRW
Latest YoY
+77.8%
Avg. growth/yr (3Y)
+32.3%
Revenue +73.8%/yr
FY21 1.1T KRW
FY22 4.5T KRW
FY23 2.3T KRW
FY24 5.9T KRW
FY25 10.5T KRW
Net income +120.2%/yr
FY21 375B KRW
FY22 260B KRW
FY23 −1.3T KRW
FY24 3.7T KRW
FY25 8.8T KRW

402340 screens 11% overvalued. Compare with NVIDIA Corporation →

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Cite: Fair Value Calculator (2026). "SK Square Co Fair Value". https://www.fairvalue-calculator.com/stock/402340

Peer Group

Semiconductors · 319 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 70 · Top 25%
Fair Value upside −11% · Top 25%
Return on equity (TTM) 54% · Top 25%
Return on assets 31% · Top 25%
Net margin (TTM) 92% · Top 25%
Operating margin (TTM) 96% · Top 25%
Revenue growth 319% · Top 25%
Dividend yield (TTM) 0.1% · Bottom 25%

Valuation Multiples vs Semiconductors median · lower = cheaper

P/FCF 0.3× · 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 19 · sector 0
FUTURE 100 · sector 60
PAST 100 · sector 24
HEALTH 100 · sector 97
DIVIDEND 3 · sector 22

Insider activity: 45/100

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 Semiconductors stocks, each showing price versus our Fair Value estimate (as of Jul 17, 2026).

Stock Price Fair Value vs Fair Value
NVIDIA Corporation NVDA $211.80 $96.91 -54%
Taiwan Semiconductor Manufacturing Company TSM $398.37 $207.49 -48%
Broadcom Inc 1AVGO €323.25 €121.25 -62%
Micron Technology, Inc ZMIC C$52.57 C$7.50 -86%
SK hynix Inc 000660 2,082,000 KRW 1,109,311 KRW -47%
Advanced Micro Devices, Inc 1AMD €464.70 €56.33 -88%
Intel Corporation INTC C$68.40 C$9.82 -86%
Texas Instruments Incorporated TXN $311.46 $59.75 -81%
MediaTek Inc 2454 3,740 TWD 1,163 TWD -69%
GigaDevice Semiconductor Inc 3986 HK$917.50 HK$540.01 -41%

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Frequently asked questions

Is SK Square Co (402340) overvalued or undervalued?
As of Jul 17, 2026, our model estimates a fair value of 868,000 KRW versus a price of 970,000 KRW, about −11% (overvalued).
What is the fair value of 402340?
Our model-based fair value for SK Square Co is 868,000 KRW (as of Jul 17, 2026), built from audited fundamentals. The current price is 970,000 KRW.
What is the quality score of 402340?
SK Square Co has a Quality Score of 70/100. It combines two groups: business quality (profitability, growth, cash flow, balance-sheet strength) and market factors (price momentum, distance to the 52-week high, volatility). Both subtotals are shown separately in the detail view.
What is the revenue of SK Square Co (402340)?
SK Square Co reported trailing-twelve-month revenue of about 17.0T KRW (latest available figure, as of Jul 17, 2026).
What is the net profit margin of 402340?
The net profit margin of SK Square Co is about 91.6%, meaning it keeps roughly 91.6% of revenue as net income. Based on the latest reported figures.
Does SK Square Co pay a dividend?
SK Square Co currently shows a dividend yield of about 0.12% relative to its recent price (as of Jul 17, 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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