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S-Fuelcell co. Ltd (288620) Fair Value & Analysis

Industrials · KR · Market cap 27.9B KRW (≈ $19.5M) · ISIN KR7288620008

What is S-Fuelcell co. Ltd really worth?

SF S-Fuelcell co. Ltd 288620 · KQ
Price3,655 KRW
Fair Value3,951 KRW
Upside+8.1%
Quality32/100

Below-average quality, currently priced close to our fair value of 3,951 KRW.

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Risks

!Weak Growth (revenue 5y −19.6 %/yr)
!Thin margins · 4.9% net margin
!Low debt · negative free cash flow
!Trails peers (2/9)
!Narrow moat 22/100
!Evidence only low, so the estimate is less certain
!Weak on past: 25 out of 100
!Weak on dividend: 8 out of 100

For context

·0.38% dividend yield
Evidence: Low Range 2,607 KRW – 4,938 KRW

Fair value as of: Aug 19, 2026

From 1 valuation models · updated 17 days ago

Share price −6.6% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • A fairly wide model range (2,607 KRW to 4,938 KRW) leaves room in how you read the outcome.
  • Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Price vs Fair Value (5 years)

37,021 KRW 3,640 KRW Fair Value 3,951 KRW Apr 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 19, 2026.

How to read this chart

60‑month range 3,640 KRW – 37,021 KRW · fair‑value band 2,607 KRW – 4,938 KRW · the 3,655 KRW price screens below the 3,951 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 19, 2026.

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Analysis

S-Fuelcell co. Ltd (288620) currently trades at 3,655 KRW, while our model-based Fair Value estimate is 3,951 KRW, implying the stock looks roughly 7.5% fairly valued today. The Quality Score stands at 32/100 (below-average quality), in the Industrials sector. How firm this estimate is: it rests on 1 models at a data quality of 95/100, which puts the evidence level at low.

Over the trailing twelve months, S-Fuelcell co. Ltd generated revenue of 46.3B KRW at a net margin of 4.9%. Revenue declined 35.1% year over year. It earns a return on equity of 6.3%. Net debt stands at 32.1B KRW. Fundamentals as of Aug 19, 2026

Our scenario range runs from 2,607 KRW (bear case) to 4,938 KRW (bull case); at 3,655 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 77% below its 52-week high, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at −44% fair-value upside, at 8%, 288620 screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

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
NCAV (Graham) best evidence 3,278 KRW 4,392 KRW 6,556 KRW 54
All 1 models by family
Asset-Based
NCAV (Graham) best evidence 3,278 KRW 4,392 KRW 6,556 KRW 54

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Key figures & financial health

P/S ratio 1.05 TTM
Dividend yield 0.4%
Net margin −138% FY2025
Return on equity 6.3% TTM
Return on assets (EBIT) −4.4% avg 5y
Operating margin −116% TTM
More key figures
Growth
Revenue (TTM) 46.3B KRW TTM
Revenue growth (YoY) −35.1% 3y avg −30.4%
EPS growth (YoY) +70.9%
Balance sheet & cash flow
Free cash flow −1.5B KRW FY2025
Net debt 32.1B KRW FY2025

Figures from reported company fundamentals · as of Aug 19, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 32/100

Of which business quality 29 · Market factors (momentum, volatility) 1

Profitability 0
Margins and returns on capital today
Quality Growth 0
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 35
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 4
Calm price path (market factor)
Momentum 0
Price trend over the last 3–12 months (market factor)
52W Momentum 0
Distance to the 52-week high (market factor)
Net Issuance 79
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

S-Prism Co., Ltd. manufactures and sells hydrogen fuel cell systems in South Korea. The company's products are used in buildings, transport, and power generation businesses. The company was formerly known as S-Fuelcell co., Ltd. and change its name to S-Prism Co., Ltd. in April 2026. S-Prism Co., Ltd.

Full company description

S-Prism Co., Ltd. manufactures and sells hydrogen fuel cell systems in South Korea. The company's products are used in buildings, transport, and power generation businesses. The company was formerly known as S-Fuelcell co., Ltd. and change its name to S-Prism Co., Ltd. in April 2026. S-Prism Co., Ltd. was founded in 1989 and is headquartered in Seoul, South Korea.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

S-Fuelcell co. Ltd reported revenue of 15.8B KRW in FY2025 versus 47.3B KRW in FY2021, a compound −24.0%/yr. Reported net income was −21.8B KRW in FY2025.

Growth Quality 14/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
15.8B KRW
Latest YoY
−53.1%
Avg. revenue 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.
−30.4%
Avg. revenue 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.
−19.6%
Avg. revenue growth/yr (10Y) 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.
+12.0%
Value creation/yr We only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Revenue −24.0%/yr
FY21 47.3B KRW
FY22 46.8B KRW
FY23 32.5B KRW
FY24 33.7B KRW
FY25 15.8B KRW
Net income
FY21 4.9B KRW
FY22 846M KRW
FY23 −2.3B KRW
FY24 −1.2B KRW
FY25 −21.8B KRW

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Cite: Fair Value Calculator (2026). "S-Fuelcell co. Ltd Fair Value". https://www.fairvalue-calculator.com/stock/288620

Peer Group

Electrical Equipment & Parts · 542 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 29 · Bottom 25%
Fair Value upside +8% · Top 25%
Return on equity (TTM) 6% · Below median
Return on assets 3% · Below median
Net margin (TTM) 5% · Below median
Operating margin (TTM) −116% · Bottom 25%
Revenue growth −35% · Bottom 25%
Dividend yield (TTM) 0.4% · Bottom 25%

Strength profile in five axes (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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE44 · sector 0
FUTURE0 · sector 56
PAST25 · sector 26
HEALTH100 · sector 97
DIVIDEND8 · sector 23

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

Similar stocks

10 more Electrical Equipment & Parts stocks, each showing price versus our Fair Value estimate (as of Aug 19, 2026).

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ABB Ltd ABBN CHF 80.10 CHF 28.70 −64%
Delta Electronics (Thailand) Public Company TDED 10.40 SGD 1.47 SGD −86%
Vertiv Holdings VRT $257.08 $63.13 −75%
LG Energy Solution, Ltd 373220 365,500 KRW 201,455 KRW −45%
Prysmian S.p.A PRY €117.10 €84.15 −28%
Legrand SA LR €139.65 €78.82 −44%
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Frequently asked questions

Is S-Fuelcell co. Ltd (288620) overvalued or undervalued?
As of Aug 19, 2026, our model estimates a fair value of 3,951 KRW versus a price of 3,655 KRW, about +8% upside (fairly valued).
What is the fair value of 288620?
Our model-based fair value for S-Fuelcell co. Ltd is 3,951 KRW (as of Aug 19, 2026), built from audited fundamentals. The current price: 3,655 KRW.
What is the quality score of 288620?
S-Fuelcell co. Ltd has a Quality Score of 32/100. 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 S-Fuelcell co. Ltd (288620)?
S-Fuelcell co. Ltd reported trailing-twelve-month revenue of about 46.3B KRW (latest available figure, as of Aug 19, 2026).
What is the net profit margin of 288620?
The net profit margin of S-Fuelcell co. Ltd is about 4.9%, meaning it keeps roughly 4.9% of revenue as net income. Based on the latest reported figures.
Does S-Fuelcell co. Ltd pay a dividend?
S-Fuelcell co. Ltd currently shows a dividend yield of about 0.38% relative to its recent price (as of Aug 19, 2026).
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