# Nongshim (004370.KO)

Canonical: https://gigainvestors.com/s/004370.KO

Analysis as of: 2026-10-16T07:41:32.915Z. Financial observations: FY1999–FY2025.

Listing currency: KRW. Reporting currency: KRW.

## Verdict

Not a wonderful business

Quality tests for Buy: not passed (profit record: pass; earnings resilience is evidence only). Published buy qualification: no.

Share price: KRW 402,500.00 per share; close as of 2026-10-15.

Estimated value: low KRW 554,898.09 per share, central KRW 669,421.07 per share, high KRW 748,359.55 per share. Buy at or below the central value KRW 669,421.07 per share. Valuation as of 2026-10-16T07:41:32.915Z; scenarios are not confidence intervals.

Expected annual return: 19.1% at the stated quote. About 19.1% a year at today's price (required return 10.0%). required return 10.0% a year (10% floor; KR 10-year bond 4.2% + 4 points).

## Checklist

### understandable: pass

- 1 revenue decline in the last 10 years (informational)

- Financial history: 10 years

- Years with declining revenue: 1

- Years with a net loss: 0

- Operating margin variation: 0.21×

Chart: Operating margin; fiscal year observations.

- FY2016: 0.04×

- FY2017: 0.04×

- FY2018: 0.04×

- FY2019: 0.03×

- FY2020: 0.06×

- FY2021: 0.04×

- FY2022: 0.04×

- FY2023: 0.06×

- FY2024: 0.05×

- FY2025: 0.05×

### moat: fail

- ROIC median below threshold

- ROIC worst years below threshold (more than 1 bad year allowed)

- ROIC, median of available years: 5.8%

- ROIC, second-lowest year: 4.5%

- Typical minus recent gross margin: 1.5 pp

- Typical gross margin (annual median): 30.5%

- Recent gross margin (lower of latest and 3-year median): 29.0%

- Years with nonpositive capital: 0

- Capital spending / revenue: 3.8%

- ROIC including acquisitions, ten-year median: 7.6%

Chart: ROIC excluding acquisitions; fiscal year observations.

- FY2016: 6.1%

- FY2017: 5.5%

- FY2018: 4.9%

- FY2019: 3.7%

- FY2020: 8.2%

- FY2021: 4.5%

- FY2022: 4.6%

- FY2023: 9.1%

- FY2024: 6.5%

- FY2025: 8.1%

### economics: pass

- Owner earnings / net income, 5-yr: 0.98×

- Cash conversion uses consolidated totals: No

- Owner earnings, five-year total: KRW 703B

- Net income, five-year total: KRW 715B

- Return on incremental invested capital: 14.0%

- Working capital / revenue, annual change: 0.2 pp

- Working capital / revenue, change between three-year averages: 1.4 pp

- Working capital / revenue, final three-year average: 7.9%

Chart: Annual owner cash / profit; fiscal year observations.

- FY2021: 0.17×

- FY2022: 1.15×

- FY2023: 1.03×

- FY2024: 0.96×

- FY2025: 1.32×

### management: pass

- Historical market-dollar context (not the management verdict): 2016 to 2025 (9 years)

- buybacks unrelated to price (informational)

- ROIC first 3 years vs last 3 years: 5.5% vs 8.1%

- Per-share earnings: 14576.92 to 27970.00 (three-year endpoint medians)

- Management verdict uses per-share economic progress: Yes

- Ordinary dilution, 5-year annual growth: 1.0%

- Market cap gain: KRW 922B

- Cumulative retained earnings: KRW 1.09T

- Diluted shares, 5-year annual growth: 1.0%

- $1 test, starting fiscal year: FY2016

- $1 test, ending fiscal year: FY2025

- Per-share value growth: 9.8%

- Per-share value change: KRW 13K

- Per-share value, starting three-year median: KRW 15K

- Per-share value, ending three-year median: KRW 28K

- Average buyback yield: 0.0%

- Buyback history: 1 years

- Debt-funded buybacks: No

- Acquisition spending: KRW 33B

- Cumulative net income, 10 years: KRW 1.31T

- ROIC, first three-year median: 5.5%

- ROIC, last three-year median: 8.1%

Chart: Earnings per share; fiscal year observations.

- FY2016: KRW 39K

- FY2017: KRW 12K

- FY2018: KRW 15K

- FY2019: KRW 12K

- FY2020: KRW 26K

- FY2021: KRW 17K

- FY2022: KRW 20K

- FY2023: KRW 30K

- FY2024: KRW 27K

- FY2025: KRW 28K

### accounting: pass

- Sloan accruals: -2.6%

- Receivables to sales index (DSRI): 1.02×

- Restructuring years, last five: 0

- Earnings backed by cash: Yes

- Operating cash / earnings: 1.58×

- Accounting red flags: 0

- Goodwill and intangibles / equity: 0.02×

Chart: Sloan accruals; fiscal year observations.

- FY2016: -0.9%

- FY2017: -0.5%

- FY2018: -2.5%

- FY2019: -3.4%

- FY2020: -3.0%

- FY2021: -2.2%

- FY2022: -1.4%

- FY2023: -4.8%

- FY2024: -3.2%

- FY2025: -2.6%

## Holders

## Price story

Down 9% since Oct 2023 · sales +2.2%

Story as of 2026-10-16T10:00:11.957Z; price observation 2026-10-15.

Price needs cash profits to shrink 6.1% a year for ten years

### Sales · FY2024–2025

sales +2.2%; source https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/; observed 2026-10-16.

- FY2016: KRW 2.22T 

- FY2017: KRW 2.21T 

- FY2018: KRW 2.24T 

- FY2019: KRW 2.34T 

- FY2020: KRW 2.64T 

- FY2021: KRW 2.66T 

- FY2022: KRW 3.13T 

- FY2023: KRW 3.41T 

- FY2024: KRW 3.44T 

- FY2025: KRW 3.51T 

### Gross margin · FY2025

gross margin 29%; source https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/; observed 2026-10-16.

- FY2016: 32.2% 

- FY2017: 33.3% 

- FY2018: 30.0% 

- FY2019: 30.6% 

- FY2020: 31.7% 

- FY2021: 30.7% 

- FY2022: 28.7% 

- FY2023: 30.4% 

- FY2024: 28.1% 

- FY2025: 29.0% 

## Owner memo

Memo as of 2026-10-16T08:06:05.509Z.

### How it makes money

Operates in packaged foods; annual sales are KRW 3.5 trillion.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16T07:41:32.915Z); FY2025: revenue 3514315500090; grossProfit 1018934417290; margin = grossProfit / revenue.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16); 004370.KO: Nongshim Co., Ltd., together with its subsidiaries, manufactures, sells, imports, and exports ramen, snacks, and beverages in Asia, the Americas, Europe, and Oceania. It also provides home meal replacements; and imports and markets brand products, such as Kellogg's cereals, Tulip canned meat, House Curry, Chupa Chups, Pringles, Mentos, jam, peanut butter, Lindt chocolates, and Villa Blanca oil. The company was formerly known as Lotte Industrial Company and changed its name to Nongshim Co., Ltd. in March 1978. Nongshim Co., Ltd. was founded in 1965 and is headquartered in Seoul, South Korea.

### Why customers stay

Margins ranged from 28.1% to 30.4% during 2023–25; it earns 5.8% on its capital.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16T07:41:32.915Z); FY2023: grossProfit / revenue = 30.4%.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16T07:41:32.915Z); FY2024: grossProfit / revenue = 28.1%.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16T07:41:32.915Z); FY2025: grossProfit / revenue = 29%.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16T07:41:32.915Z); 10-year return on capital observations [[2016,0.0608526737153982],[2017,0.054728560771760006],[2018,0.04946673754764809],[2019,0.03740918595872067],[2020,0.08225635636512463],[2021,0.0448104107943961],[2022,0.046115341830102706],[2023,0.09132124490029601],[2024,0.06505067645440947],[2025,0.08055279726571253]]; median 0.057790617243579104. ROIC follows the displayed moat series; financial companies use return on tangible equity.

### Can it raise prices

Kept about a 29% gross margin through 2022 cost inflation.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16T07:41:32.915Z); Gross margin observations: [[2021,0.3072164128993995],[2022,0.28748604301281827],[2023,0.30353955361426055]]; range within 2 percentage points.

### Where the cash goes

Paid dividends in 10 of 10 years.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16T07:41:32.915Z); FY2016: growth capex 0; upkeep 61427129850; owner earnings 159533691100. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16T07:41:32.915Z); FY2017: growth capex 0; upkeep 128816075490; owner earnings 44932728660. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16T07:41:32.915Z); FY2018: growth capex 0; upkeep 89492935710; owner earnings 57379760460. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16T07:41:32.915Z); FY2019: growth capex 56099898684.62326; upkeep 98646080955.37674; owner earnings 65316623352.62326. Growth capex / owner earnings = 0.8588915930598265.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16T07:41:32.915Z); FY2020: growth capex 79283944050; upkeep 101604907000; owner earnings 144088460838. Growth capex / owner earnings = 0.5502449230763848.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16T07:41:32.915Z); FY2021: growth capex 12175203453.284882; upkeep 183967984916.71512; owner earnings 17001307893.284882. Growth capex / owner earnings = 0.7161333427820458.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16T07:41:32.915Z); FY2022: growth capex 0; upkeep 94885451110; owner earnings 133042690802. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16T07:41:32.915Z); FY2023: growth capex 0; upkeep 108225560150; owner earnings 176701403872. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16T07:41:32.915Z); FY2024: growth capex 2643359910; upkeep 122667022000; owner earnings 151082249164. Growth capex / owner earnings = 0.01749616466942208.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16T07:41:32.915Z); FY2025: growth capex 0; upkeep 67855207810; owner earnings 225055933778. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16T07:41:32.915Z); Dividend observations: [[2016,23129135590],[2017,23130866030],[2018,23129052000],[2019,23129048000],[2020,23129308440],[2021,23129613040],[2022,23129140000],[2023,28912118540],[2024,28911886030],[2025,28912194950]]. Zero only counted when supported by a complete cash-flow statement.

### Are managers owners

Insiders own 44.3% of the company.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16); 004370.KO SharesStats.PercentInsiders = 44.266 percentage points; cache date 2026-10-16.

### What could break it

US import tariffs could raise product costs.

- Source: https://dart.fss.or.kr/report/viewer.do?rcpNo=20260311003892&dcmNo=11108518&eleId=9&offset=114829&length=200262&dtd=dart4.xsd (filed 2026-03-11); 5g*5*8)

육개장사발면

19,008(86g*24)
17,292(86g*24)
17,292(86g*24)

김치사발면

19,008(86g*24)
17,292(86g*24)
17,292(86g*24)

새우깡

19,140(90g*20)
17,930(90g*20)
17,930(90g*20)

꿀꽈배기

21,560(90g*20)
21,560(90g*20)
21,560(90g*20)

※ 작성기준: 사업기간 말일 출고가 기준(V.A.T.포함)

3. 원재료 및 생산설비

가. 주요 원재료 등

1) 주요 원재료 등의 현황

(단위 : 백만원,%)

매입유형
매입유형
품목
구체적용도
매입액
비율
비고

식품제조
원재료
소맥분외
라면 및 스낵제조용
1,144,063
59.0%

식품제조
부재료
포장재외
라면 및 스낵제조용
465,878
24.0%

식품제조
상품
켈로그외
판매
330,686
17.0%

계
1,940,627
100.0%

- 당사는 대한제분, CJ제일제당, 사조동아원 등 국내의 주요한 다수의 제분사와 거래중에 있습니다. 소맥분의 경우 기상 및 재배면적 변화에 따른 작황이 곡물 시세에 절대적인 영향을 주고 있습니다. 최근 기후, 전쟁, 미국의 관세 및 금리정책 이슈 등으로 변동성이 심화될 것으로 예상됩니다.

- 팜유는 말레이시아의 주요 공급선을 대상으로 경쟁입찰 방식의 선도구매를 진행하고 있습니다. 시세는 수급상황, 국제 원자재 가격 및 유가, 세계경기 추이 등에 직간접적인 영향을 받으며, 중동지역 정세불안 가중으로 식물유지 시세 전반에 상방압력이 가중되었습니다.

- 포장재는 국내 주요 연포장업체를 통해 구매하고 있으며, 국제유가와 기초원료인 나프타 그리고 환율 등 국내외 시세에 영향을 받는 구조입니다. 향후 유화제품 시장은 미국 관세정책 및 연준 금리조정 이슈 등 국제경기에 따른 수요공급 변화와 최근 국내 유화사 구조조정 등 다양한 요인에 의해 변동성이 심화될 것으로 예상됩니다.

2) 주요 원재료 등의 가격변동추이

(단위 : USD/MT)

품 목

제62기

제61기

제60기

소맥
국내
-
-
-

수입
196
210
236

팜유
국내
-
-
-

수입
1,043
962
876

※ 산출기준: 기간내 국제 원자재 형성가격의 단순평균 단가

- 소맥 : 미국 시카고 선물거래소 소맥 선물가격

- 팜유 : 말레이시아 쿠알라룸푸르 팜유 선물가격

나. 생산 및 설비에 관한 사항

1) 생산능력 및 생산능력의 산출근거

가) 생산능력

- 국내사업소

(단위 : 수량-천상자, 천Ton, 금액-백만원)

사업부문
제품유형
제62기
제61기
제60기

수량
금액
수량
금액
수량
금액

기 타

식 품

제조업
라면
214,478
3,248,751
208,312
3,070,280
194,010
3,030,810

스낵
52,133
1,026,510
52,799
1,015,497
53,172
1,014,143

음료
15,437
79,499
15,631
80,500
15,697
80,838

유지
59
107,916
60
92,231
60
92,937

합 계
282,107
4,462,676
276,802
4,258,508
262,939
4,218,728

※ 유지의 수량단위는 천Ton 단위임

- 해외사업소

(단위 : 수량-천식, 천Ton, 천만포, 금액-백만원)

사업부문
품 목
사업소
제62기
제61기
제60기

수량
금액
수량
금액
수량
금액

기 타

식 품

제조업
라면, 스낵
심양농심
351,037
185,366

353,903

172,951

352,470

181,469

라면
상해농심
327,384
185,947

330,057

180,429

328,721

206,087

반제품
청도농심
41
227,429
40
288,838
40
284,319

스프류
240
216
216

생수
연변농심
693
180,653

652

173,915

668
168,339

라면
농심아메리카
996,046
1,534,312
888,000
1,046,490
850,000
943,291

합 계
1,675,441
2,313,707
1,572,868
1,862,623
1,532,115
1,783,505

※ 청도농심에서 생산하는 품목에 대한 수량단위는 반제품은 천Ton, 스프류가 천만포 기준임.

※ 연변농심에서 생산하는 품목에 대한 수량단위는 천Ton단위임

나) 생산능력의 산출근거

(1) 산출방법 등

(가) 산출기준 : 표준생산능력

(나) 산출방법 : 일일생산능력 × 작업일수

(2) 평균가동시간

국내사업소
해외사업소

① 1일 평균가동시간 : 21시간

② 월평균가동일수 : 19.6일

③ 가동일수 : 235일
① 1일 평균가동시간 : 중국 21시간, 미국 23.8시간

② 월평균가동일수 : 중국 20일, 미국 20.9일

③ 가동일수 : 중국 245일, 미국 251일

※ 중국(심양,상해,청도,연변농심의 평균가동시간)

(3) 생산실적 및 가동률

(가) 생산실적

- 국내사업소

(단위 : 수량-천상자, Ton, 금액-백만원)

사업

부문
품 목
제62기
제61기
제60기

수량
금액
수량
금액
수량
금액

기 타

식 품

제조업
라면
149,198
2,228,932
147,257
2,103,258
138,978
1,996,287

스낵
25,910
471,155
25,958
471,218
26,081
479,536

음료
8,546
47,014
6,744
37,058
8,654
47,418

유지
56
103,209
55
85,515
53
83,165

합계
183,710
2,850,310
180,014
2,697,049
173,766
2,606,406

※ 유지의 수량단위는 천Ton 단위임

※ 수출 스프류 제외

- 해외사업소

(단위 : 수량-천식, 천Ton, 천만포, 금액-백만원)

사업

부문
품 목
사업소
제62기
제61기
제60기

수

### What the price says

The price assumes cash profits shrink 6.1% yearly over ten years.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16T07:41:32.915Z); Ten-year compound average after fade. Initial solved rate -0.09863093791018346. Price 402500; FX 1; discount 0.1; same standard ten-year fade to terminal 0.03.  Closing-price date 2026-10-15.

## Monthly share-price history (KRW per share)

- 2016-10: KRW 288,000.00 per share

- 2016-11: KRW 325,500.00 per share

- 2016-12: KRW 332,500.00 per share

- 2017-01: KRW 318,000.00 per share

- 2017-02: KRW 315,000.00 per share

- 2017-03: KRW 299,000.00 per share

- 2017-04: KRW 317,000.00 per share

- 2017-05: KRW 347,000.00 per share

- 2017-06: KRW 337,500.00 per share

- 2017-07: KRW 319,500.00 per share

- 2017-08: KRW 332,500.00 per share

- 2017-09: KRW 343,000.00 per share

- 2017-10: KRW 347,500.00 per share

- 2017-11: KRW 365,500.00 per share

- 2017-12: KRW 354,000.00 per share

- 2018-01: KRW 323,500.00 per share

- 2018-02: KRW 309,000.00 per share

- 2018-03: KRW 306,000.00 per share

- 2018-04: KRW 324,000.00 per share

- 2018-05: KRW 326,000.00 per share

- 2018-06: KRW 325,000.00 per share

- 2018-07: KRW 294,000.00 per share

- 2018-08: KRW 249,500.00 per share

- 2018-09: KRW 243,500.00 per share

- 2018-10: KRW 218,000.00 per share

- 2018-11: KRW 251,000.00 per share

- 2018-12: KRW 254,500.00 per share

- 2019-01: KRW 279,500.00 per share

- 2019-02: KRW 269,000.00 per share

- 2019-03: KRW 309,000.00 per share

- 2019-04: KRW 280,500.00 per share

- 2019-05: KRW 241,500.00 per share

- 2019-06: KRW 254,000.00 per share

- 2019-07: KRW 235,000.00 per share

- 2019-08: KRW 240,000.00 per share

- 2019-09: KRW 249,500.00 per share

- 2019-10: KRW 242,000.00 per share

- 2019-11: KRW 234,500.00 per share

- 2019-12: KRW 240,500.00 per share

- 2020-01: KRW 231,000.00 per share

- 2020-02: KRW 264,000.00 per share

- 2020-03: KRW 288,500.00 per share

- 2020-04: KRW 295,500.00 per share

- 2020-05: KRW 315,500.00 per share

- 2020-06: KRW 365,500.00 per share

- 2020-07: KRW 369,000.00 per share

- 2020-08: KRW 359,500.00 per share

- 2020-09: KRW 314,000.00 per share

- 2020-10: KRW 288,000.00 per share

- 2020-11: KRW 287,000.00 per share

- 2020-12: KRW 300,000.00 per share

- 2021-01: KRW 282,500.00 per share

- 2021-02: KRW 275,000.00 per share

- 2021-03: KRW 283,500.00 per share

- 2021-04: KRW 285,000.00 per share

- 2021-05: KRW 301,500.00 per share

- 2021-06: KRW 313,500.00 per share

- 2021-07: KRW 329,000.00 per share

- 2021-08: KRW 298,500.00 per share

- 2021-09: KRW 282,500.00 per share

- 2021-10: KRW 283,500.00 per share

- 2021-11: KRW 273,500.00 per share

- 2021-12: KRW 318,500.00 per share

- 2022-01: KRW 323,000.00 per share

- 2022-02: KRW 307,000.00 per share

- 2022-03: KRW 299,500.00 per share

- 2022-04: KRW 303,500.00 per share

- 2022-05: KRW 276,000.00 per share

- 2022-06: KRW 267,500.00 per share

- 2022-07: KRW 279,500.00 per share

- 2022-08: KRW 300,000.00 per share

- 2022-09: KRW 298,000.00 per share

- 2022-10: KRW 302,000.00 per share

- 2022-11: KRW 328,500.00 per share

- 2022-12: KRW 357,000.00 per share

- 2023-01: KRW 343,000.00 per share

- 2023-02: KRW 366,000.00 per share

- 2023-03: KRW 379,000.00 per share

- 2023-04: KRW 396,500.00 per share

- 2023-05: KRW 439,000.00 per share

- 2023-06: KRW 398,000.00 per share

- 2023-07: KRW 397,000.00 per share

- 2023-08: KRW 458,500.00 per share

- 2023-09: KRW 473,000.00 per share

- 2023-10: KRW 444,500.00 per share

- 2023-11: KRW 405,500.00 per share

- 2023-12: KRW 407,000.00 per share

- 2024-01: KRW 377,500.00 per share

- 2024-02: KRW 348,000.00 per share

- 2024-03: KRW 368,500.00 per share

- 2024-04: KRW 398,000.00 per share

- 2024-05: KRW 459,500.00 per share

- 2024-06: KRW 489,000.00 per share

- 2024-07: KRW 482,500.00 per share

- 2024-08: KRW 386,000.00 per share

- 2024-09: KRW 385,000.00 per share

- 2024-10: KRW 374,500.00 per share

- 2024-11: KRW 344,000.00 per share

- 2024-12: KRW 374,000.00 per share

- 2025-01: KRW 349,000.00 per share

- 2025-02: KRW 341,000.00 per share

- 2025-03: KRW 404,500.00 per share

- 2025-04: KRW 403,000.00 per share

- 2025-05: KRW 424,000.00 per share

- 2025-06: KRW 393,000.00 per share

- 2025-07: KRW 387,000.00 per share

- 2025-08: KRW 410,000.00 per share

- 2025-09: KRW 431,500.00 per share

- 2025-10: KRW 436,000.00 per share

- 2025-11: KRW 447,000.00 per share

- 2025-12: KRW 432,500.00 per share

- 2026-01: KRW 407,500.00 per share

- 2026-02: KRW 430,000.00 per share

- 2026-03: KRW 367,000.00 per share

- 2026-04: KRW 377,500.00 per share

- 2026-05: KRW 385,000.00 per share

- 2026-06: KRW 335,500.00 per share

- 2026-07: KRW 383,000.00 per share

- 2026-08: KRW 443,500.00 per share

- 2026-09: KRW 403,500.00 per share

- 2026-10: KRW 401,000.00 per share

## Annual estimated value (KRW per share)

- FY2016: low KRW 284,661.33 per share, central KRW 308,396.39 per share, high KRW 339,992.78 per share

- FY2017: low KRW 189,262.48 per share, central KRW 205,819.11 per share, high KRW 227,859.50 per share

- FY2018: low KRW 208,295.73 per share, central KRW 223,249.86 per share, high KRW 243,156.97 per share

- FY2019: low KRW 223,855.04 per share, central KRW 240,877.64 per share, high KRW 263,538.34 per share

- FY2020: low KRW 232,694.67 per share, central KRW 251,865.79 per share, high KRW 277,386.62 per share

- FY2021: low KRW 216,148.29 per share, central KRW 233,954.49 per share, high KRW 257,658.31 per share

- FY2022: low KRW 265,804.56 per share, central KRW 305,005.03 per share, high KRW 340,748.40 per share

- FY2023: low KRW 460,604.92 per share, central KRW 606,700.04 per share, high KRW 691,771.50 per share

- FY2024: low KRW 512,147.10 per share, central KRW 653,428.98 per share, high KRW 737,989.17 per share

- FY2025: low KRW 510,731.00 per share, central KRW 616,676.27 per share, high KRW 689,702.31 per share

Historical values use today's bond yield for every fiscal year

Historical values use today's FX rate into trading currency for every fiscal year

Historical values use current restated fundamentals and current commodity classification; they are not point-in-time estimates

Prior published observations retained from 2026-10-15T06:47:25.639Z where newer inputs omit a numeric field or fiscal period.

## Sources

Estimates depend on assumptions and are not guarantees or investment advice. Underlying data remains subject to its source licenses; public reading does not grant bulk redistribution rights.