Valuation Update With 7 Day Price Move • Jul 03
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩25,050, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 10x in the Consumer Retailing industry in South Korea. Total returns to shareholders of 33% over the past three years. Reported Earnings • May 21
First quarter 2026 earnings: EPS exceeds analyst expectations First quarter 2026 results: EPS: ₩516 (up from ₩125 in 1Q 2025). Revenue: ₩2.85t (up 3.8% from 1Q 2025). Net income: ₩43.1b (up 314% from 1Q 2025). Profit margin: 1.5% (up from 0.4% in 1Q 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 35%. Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Consumer Retailing industry in South Korea. Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • May 13
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩26,350, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 11x in the Consumer Retailing industry in South Korea. Total returns to shareholders of 20% over the past three years. Major Estimate Revision • May 09
Consensus EPS estimates increase by 14% The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate increased from ₩2,177 to ₩2,489. Revenue forecast steady at ₩12.3b. Net income forecast to grow 285% next year vs 58% growth forecast for Consumer Retailing industry in South Korea. Consensus price target up from ₩24,800 to ₩26,544. Share price rose 9.8% to ₩25,800 over the past week. 공고 • May 02
GS Retail Co., Ltd. to Report Q1, 2026 Results on May 07, 2026 GS Retail Co., Ltd. announced that they will report Q1, 2026 results on May 07, 2026 Reported Earnings • Mar 17
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: ₩645 (up from ₩74.46 loss in FY 2024). Revenue: ₩12t (up 3.3% from FY 2024). Net income: ₩53.9b (up ₩61.5b from FY 2024). Profit margin: 0.5% (up from net loss in FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 69%. Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Consumer Retailing industry in South Korea. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 59 percentage points per year, which is a significant difference in performance. 공고 • Mar 06
GS Retail Co., Ltd., Annual General Meeting, Mar 19, 2026 GS Retail Co., Ltd., Annual General Meeting, Mar 19, 2026, at 09:00 Tokyo Standard Time. Location: conference room, 1139, cheonho-daero, gangdong-gu, seoul South Korea Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to ₩18,660, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 8x in the Consumer Retailing industry in South Korea. Total loss to shareholders of 24% over the past three years. Declared Dividend • Feb 06
Dividend of ₩600 announced Shareholders will receive a dividend of ₩600. Ex-date: 26th February 2026 Payment date: 1st January 1970 Dividend yield will be 2.9%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is covered by both earnings (64% earnings payout ratio) and cash flows (9% cash payout ratio). The dividend has decreased over the past 66 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 68% over the next 2 years, which should provide support to the dividend and adequate earnings cover. 공고 • Feb 05
GS Retail Co., Ltd. announces Annual dividend GS Retail Co., Ltd. announced Annual dividend of KRW 600.0000 per share, ex-date on February 26, 2026 and record date on February 27, 2026. Major Estimate Revision • Feb 05
Consensus EPS estimates increase by 18%, revenue downgraded The consensus outlook for fiscal year 2026 has been updated. 2026 revenue forecast fell from ₩12.3b to ₩12.2b. EPS estimate rose from ₩2,131 to ₩2,524. Net income forecast to grow 190% next year vs 12% growth forecast for Consumer Retailing industry in South Korea. Consensus price target up from ₩23,151 to ₩23,741. Share price was steady at ₩20,950 over the past week. 공고 • Jan 30
GS Retail Co., Ltd. to Report Q4, 2025 Results on Feb 04, 2026 GS Retail Co., Ltd. announced that they will report Q4, 2025 results on Feb 04, 2026 Price Target Changed • Nov 07
Price target increased by 9.4% to ₩20,212 Up from ₩18,476, the current price target is an average from 17 analysts. New target price is approximately in line with last closing price of ₩20,100. Stock is down 22% over the past year. The company is forecast to post earnings per share of ₩1,482 next year compared to a net loss per share of ₩455 last year. Reported Earnings • Aug 20
Second quarter 2025 earnings released: EPS: ₩140 (vs ₩425 in 2Q 2024) Second quarter 2025 results: EPS: ₩140 (down from ₩425 in 2Q 2024). Revenue: ₩2.98t (up 1.7% from 2Q 2024). Net income: ₩11.8b (down 73% from 2Q 2024). Profit margin: 0.4% (down from 1.5% in 2Q 2024). Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Consumer Retailing industry in South Korea. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 107 percentage points per year, which is a significant difference in performance. Price Target Changed • May 14
Price target decreased by 9.6% to ₩18,581 Down from ₩20,554, the current price target is an average from 16 analysts. New target price is 31% above last closing price of ₩14,230. Stock is down 45% over the past year. The company is forecast to post earnings per share of ₩1,431 next year compared to a net loss per share of ₩455 last year. Board Change • Apr 18
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Independent Outside Director Gyung-Sang Lee was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 15
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: ₩3,858 loss per share (down from ₩71.38 profit in FY 2023). Revenue: ₩12t (up 4.4% from FY 2023). Net loss: ₩37.4b (down 485% from profit in FY 2023). Revenue missed analyst estimates by 1.4%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 3.4% growth forecast for the Consumer Retailing industry in South Korea. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 89 percentage points per year, which is a significant difference in performance. 공고 • Mar 06
GS Retail Co., Ltd., Annual General Meeting, Mar 20, 2025 GS Retail Co., Ltd., Annual General Meeting, Mar 20, 2025, at 09:00 Tokyo Standard Time. Location: conference room, 1139, cheonho-daero, gangdong-gu, seoul South Korea Price Target Changed • Feb 06
Price target decreased by 10% to ₩26,295 Down from ₩29,318, the current price target is an average from 17 analysts. New target price is 74% above last closing price of ₩15,070. Stock is down 46% over the past year. The company is forecast to post earnings per share of ₩1,400 for next year compared to ₩958 last year. Price Target Changed • Jan 06
Price target decreased by 8.6% to ₩30,342 Down from ₩33,214, the current price target is an average from 18 analysts. New target price is 76% above last closing price of ₩17,230. Stock is down 41% over the past year. The company is forecast to post earnings per share of ₩1,599 for next year compared to ₩958 last year. New Risk • Dec 25
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of South Korean stocks, typically moving 12% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Cash payout ratio: 106% Minor Risk Share price has been volatile over the past 3 months (12% average weekly change). Reported Earnings • Nov 20
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: ₩577 loss per share (down from ₩580 profit in 3Q 2023). Revenue: ₩3.05t (up 3.7% from 3Q 2023). Net loss: ₩59.8b (down 201% from profit in 3Q 2023). Revenue missed analyst estimates by 3.6%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Consumer Retailing industry in South Korea. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 85 percentage points per year, which is a significant difference in performance. Major Estimate Revision • Nov 11
Consensus EPS estimates fall by 15% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from ₩12.0b to ₩11.8b. EPS estimate also fell from ₩2,161 per share to ₩1,843 per share. Net income forecast to grow 224% next year vs 18% growth forecast for Consumer Retailing industry in South Korea. Consensus price target down from ₩29,100 to ₩27,800. Share price fell 5.5% to ₩20,500 over the past week. Major Estimate Revision • Aug 10
Consensus EPS estimates fall by 14% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from ₩2,390 to ₩2,051 per share. Revenue forecast steady at ₩12.1b. Net income forecast to grow 195% next year vs 15% growth forecast for Consumer Retailing industry in South Korea. Consensus price target broadly unchanged at ₩29,800. Share price fell 9.8% to ₩20,250 over the past week. Reported Earnings • Mar 16
Full year 2023 earnings released: EPS: ₩775 (vs ₩1,377 in FY 2022) Full year 2023 results: EPS: ₩775 (down from ₩1,377 in FY 2022). Revenue: ₩12t (up 5.3% from FY 2022). Net income: ₩79.2b (down 44% from FY 2022). Profit margin: 0.7% (down from 1.3% in FY 2022). Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Consumer Retailing industry in South Korea. Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has only fallen by 18% per year, which means it has not declined as severely as earnings. New Risk • Mar 16
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 0.7% Last year net profit margin: 1.3% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.7% net profit margin). Upcoming Dividend • Dec 20
Upcoming dividend of ₩430 per share at 1.8% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 05 April 2024. Payout ratio is a comfortable 54% and this is well supported by cash flows. Trailing yield: 1.8%. Lower than top quartile of South Korean dividend payers (3.5%). Lower than average of industry peers (2.8%). Reported Earnings • Mar 18
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: EPS: ₩360 (down from ₩9,221 in FY 2021). Revenue: ₩11t (up 16% from FY 2021). Net income: ₩36.8b (down 96% from FY 2021). Profit margin: 0.3% (down from 8.5% in FY 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 68%. Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Consumer Retailing industry in South Korea. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Upcoming Dividend • Dec 21
Upcoming dividend of ₩1,200 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 05 April 2023. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 4.1%. Within top quartile of South Korean dividend payers (3.3%). Higher than average of industry peers (2.6%). Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Major Estimate Revision • Nov 09
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate fell from ₩1,543 to ₩1,256 per share. Revenue forecast steady at ₩11.2b. Net income forecast to shrink 78% next year vs 17% growth forecast for Consumer Retailing industry in South Korea . Consensus price target broadly unchanged at ₩30,200. Share price rose 5.6% to ₩27,500 over the past week. Reported Earnings • May 20
First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2022 results: EPS: ₩92.00 (down from ₩471 in 1Q 2021). Revenue: ₩2.60t (up 24% from 1Q 2021). Net income: ₩9.42b (down 74% from 1Q 2021). Profit margin: 0.4% (down from 1.7% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 2.9%. Earnings per share (EPS) missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 9.6%, compared to a 12% growth forecast for the industry in South Korea. Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Major Estimate Revision • May 07
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast increased from ₩10.9b to ₩11.2b. EPS estimate fell from ₩2,525 to ₩1,657 per share. Net income forecast to shrink 81% next year vs 4.8% growth forecast for Consumer Retailing industry in South Korea . Consensus price target down from ₩33,222 to ₩31,944. Share price fell 8.5% to ₩26,400 over the past week. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Price Target Changed • Mar 17
Price target decreased to ₩34,526 Down from ₩37,474, the current price target is an average from 17 analysts. New target price is 24% above last closing price of ₩27,900. Stock is down 28% over the past year. The company is forecast to post earnings per share of ₩7,960 for next year compared to ₩2,187 last year. Major Estimate Revision • Feb 10
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast increased from ₩10.5b to ₩11.0b. EPS estimate fell from ₩2,902 to ₩2,279 per share. Net income forecast to shrink 55% next year vs 15% growth forecast for Consumer Retailing industry in South Korea . Consensus price target down from ₩40,263 to ₩37,053. Share price fell 3.1% to ₩26,900 over the past week. Price Target Changed • Feb 09
Price target decreased to ₩37,053 Down from ₩40,263, the current price target is an average from 19 analysts. New target price is 38% above last closing price of ₩26,850. Stock is down 25% over the past year. The company is forecast to post earnings per share of ₩8,223 for next year compared to ₩2,187 last year. Major Estimate Revision • Jan 15
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 EPS estimate increased from ₩6,013 to ₩6,700. Revenue forecast steady at ₩9.54b. Net income forecast to shrink 58% next year vs 15% growth forecast for Consumer Retailing industry in South Korea . Consensus price target reaffirmed at ₩41,263. Share price fell 2.7% to ₩29,050 over the past week. Upcoming Dividend • Dec 22
Upcoming dividend of ₩900 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 05 April 2022. Payout ratio is a comfortable 9.0% and this is well supported by cash flows. Trailing yield: 3.0%. Within top quartile of South Korean dividend payers (2.4%). Higher than average of industry peers (2.0%). 공고 • May 11
GS Retail Co., Ltd. (KOSE:A007070) completed the acquisition of GS Home Shopping Inc. (KOSDAQ:A028150). GS Retail Co., Ltd. (KOSE:A007070) agreed to acquire GS Home Shopping Inc. (KOSDAQ:A028150) on November 10, 2020. Under the terms of the transaction merger ratio is 4.22. Post acquisition GS Retail and GS Home Shopping will merge together. The merged entity will be called GS Retail and it aims to reach KRW 25 trillion in billings in 2025 through synergy, which is an annual average of 10% growth from KRW 15 trillion projected for this year. The entity envisions stretching mobile commerce channel billing amount from current KRW 2.8 trillion to KRW 7 trillion by focusing on mobile-focused channel integration. The transaction is subject to shareholders approval of both companies. The transaction was approved by the board of GS Retail and GS Home Shopping on November 10, 2020. The transaction is expected to be completed by July 2021 next year.
GS Retail Co., Ltd. (KOSE:A007070) completed the acquisition of GS Home Shopping Inc. (KOSDAQ:A028150) on May 10, 2021. 공고 • Mar 10
GS Retail Co., Ltd., Annual General Meeting, Mar 25, 2021 GS Retail Co., Ltd., Annual General Meeting, Mar 25, 2021, at 09:00 Korea Standard Time. Reported Earnings • Mar 05
Full year 2020 earnings released: EPS ₩2,187 (vs ₩1,729 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: ₩8.86t (down 1.6% from FY 2019). Net income: ₩168.4b (up 27% from FY 2019). Profit margin: 1.9% (up from 1.5% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Mar 03
New 90-day high: ₩37,400 The company is up 10.0% from its price of ₩34,150 on 03 December 2020. The South Korean market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Retailing industry, which is up 12% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₩65,420 per share. Major Estimate Revision • Feb 09
Analysts update estimates The 2021 consensus earning per share (EPS) estimate was lowered from ₩2,765 to ₩2,463. Revenue estimate was approximately flat at ₩9.38b. Net income is expected to grow by 10% next year compared to 12% growth forecast for the Consumer Retailing industry in South Korea. The consensus price target was lowered from ₩47,458 to ₩47,375. Share price is up 3.9% to ₩36,150 over the past week. 공고 • Jan 30
GS Retail Co., Ltd. to Report Fiscal Year 2020 Results on Feb 08, 2021 GS Retail Co., Ltd. announced that they will report fiscal year 2020 results on Feb 08, 2021 Is New 90 Day High Low • Jan 13
New 90-day high: ₩37,000 The company is up 8.0% from its price of ₩34,400 on 15 October 2020. The South Korean market is up 29% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Retailing industry, which is up 16% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₩81,981 per share. Upcoming Dividend • Dec 22
Upcoming Dividend of ₩750 Per Share Will be paid on the 31st of March to those who are registered shareholders by the 29th of December. The trailing yield of 2.2% is below the top quartile of South Korean dividend payers (2.6%), but it is higher than industry peers (1.9%). Reported Earnings • Nov 22
Third quarter 2020 earnings released: EPS ₩878 The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: ₩2.35t (down 1.1% from 3Q 2019). Net income: ₩67.6b (up 2.9% from 3Q 2019). Profit margin: 2.9% (up from 2.8% in 3Q 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has fallen by 2% per year. Analyst Estimate Surprise Post Earnings • Nov 22
Earnings beat expectations, revenue disappoints Revenue missed analyst estimates by 1.3%. Earnings per share (EPS) exceeded analyst estimates by 10%. Over the next year, revenue is forecast to grow 4.7%, compared to a 7.2% growth forecast for the Consumer Retailing industry in South Korea. 공고 • Nov 11
GS Retail Co., Ltd. (KOSE:A007070) agreed to acquire GS Home Shopping Inc. (KOSDAQ:A028150). GS Retail Co., Ltd. (KOSE:A007070) agreed to acquire GS Home Shopping Inc. (KOSDAQ:A028150) on November 10, 2020. Under the terms of the transaction merger ratio is 4.22. Post acquisition GS Retail and GS Home Shopping will merge together. The merged entity will be called GS Retail and it aims to reach KRW 25 trillion in billings in 2025 through synergy, which is an annual average of 10% growth from KRW 15 trillion projected for this year. The entity envisions stretching mobile commerce channel billing amount from current KRW 2.8 trillion to KRW 7 trillion by focusing on mobile-focused channel integration. The transaction is subject to shareholders approval of both companies. The transaction was approved by the board of GS Retail and GS Home Shopping on November 10, 2020. The transaction is expected to be completed by July 2021 next year. Is New 90 Day High Low • Oct 20
New 90-day high: ₩36,550 The company is up 2.0% from its price of ₩36,000 on 22 July 2020. The South Korean market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Retailing industry, which is up 22% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₩78,981 per share. 
