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Korean oil refiner and petrochemical producer, majority-owned by Saudi Aramco.
Korean oil refiner and petrochemical producer, majority-owned by Saudi Aramco.
Earns the spread between crude and the fuels and chemicals it refines at its Ulsan complex, with much of its crude supplied by Saudi Aramco, its majority owner. It sells fuels at home and abroad and is building a large chemical complex to shift more output into petrochemicals.
In one line: Korea's Valero — an independent refiner, majority-owned by a national oil company..
Moat: narrow (scale, distribution). Modern, high-complexity refining assets and secure Aramco crude supply, but refining margins are commodity-cyclical.
Headquarters: Seoul, South Korea · Founded: 1976 · Employees: 3,537
Size S-Oil (010950.KS) is a South Korea Energy company (Oil Refining/Marketing) with a market value of $9.00B, the 50th largest of 495 South Korea companies the cockpit tracks. Shares closed at ₩106,200 on 6 Nov 2026.
Performance Over six months the shares fell 21.0%, against +4.9% for the median peer and -24.5% for the South Korea market (cap-weighted) — 3rd lowest of 21 in its peer set.
Growth Revenue grew 19.4% over the last twelve months (peer median +15.6%); the operating margin is 9.7% (peer median 6.5%).
Valuation It trades at 3.5× forward earnings against a peer median of 7.0× (4th cheapest of 20).
Capital Return on invested capital runs 27.5 points above its cost of capital (5.5% WACC).
Next results Next results expected around 28 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₩41.0T | ₩34.2T | ₩36.6T | ₩35.7T | ₩42.4T |
| Revenue growth | — | -7% | +3% | -16% | — |
| Gross profit | n/a | ₩970B | ₩1.16T | ₩2.05T | ₩4.10T |
| EBITDA | n/a | ₩1.04T | ₩1.17T | ₩2.07T | ₩4.06T |
| Net income | ₩2.90T | ₩177B | -₩193B | ₩949B | ₩2.10T |
| Free cash flow | n/a | ₩36.3B | -₩1.57T | ₩340B | ₩680B |
| Capital expenditure | n/a | ₩3.91T | ₩3.07T | ₩2.19T | ₩601B |
| Total debt | n/a | ₩7.91T | ₩8.00T | ₩5.84T | ₩5.22T |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| S-Oil 010950.KS | $9.00B | -21% | +19% | 10% | 3.5× | n/a |
| SK Innovation 096770.KS | $13.4B | -25% | +26% | 9% | 4.5× | n/a |
| Valero Energy VLO | $96.6B | +44% | +25% | 12% | 5.6× | -16.1% |
| Reliance Industries RELIANCE.NS | $189B | -8% | +20% | 11% | 19.3× | 19.1% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 010950.KS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -37.8% | -17.2% | lowest of 21 |
| 6-month return | -21.0% | +4.9% | 3rd lowest of 21 |
| Distance from 52-week high | -39.9% | -24.5% | 3rd lowest of 21 |
| Revenue growth (TTM) | +19.4% | +15.6% | 9th highest of 21 |
| Operating margin | 9.7% | 6.5% | 6th highest of 21 |
| Forward P/E | 3.5× | 7.0× | 4th cheapest of 20 |
| ROIC minus cost of capital | +27.5 pp | +9.2 pp | 3rd highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| S-Oil 010950.KS | South Korea | $9.00B | -21% | +19% | 10% | 3.5× | n/a | n/a |
| Hindustan Petroleum HINDPETRO.NS | India | $8.67B | -2% | +17% | 0% | n/a | 24.7% | +13.6% |
| Idemitsu Kosan 5019.T | Japan | $9.54B | -9% | -3% | 6% | 7.1× | -12.8% | +12.2% |
| PBF Energy PBF | United States | $8.16B | +65% | +32% | 8% | 2.6× | n/a | n/a |
| SK Innovation 096770.KS | South Korea | $13.4B | -25% | +26% | 9% | 4.5× | n/a | n/a |
| Ampol ALD.AX | Australia | $5.95B | +6% | +15% | 6% | 10.8× | -14.0% | +15.4% |
| Bharat Petroleum BPCL.NS | India | $14.7B | +4% | +22% | 3% | 23.1× | 5.7% | +14.5% |
| HF Sinclair DINO | United States | $16.7B | +34% | +29% | 14% | 5.0× | -20.0% | +19.1% |
| Eneos 5020.T | Japan | $19.8B | -11% | +2% | 7% | 6.7× | -10.6% | +9.0% |
| Delek US DK | United States | $3.92B | +39% | +11% | 6% | 3.2× | -10.1% | +8.0% |
| CVR Energy CVI | United States | $3.83B | +14% | +34% | 11% | 5.2× | -17.9% | +12.8% |
| Sinopec Shanghai Petrochemical 600688.SS | China | $3.75B | -5% | -4% | 0% | 59.0× | n/a | n/a |
| Cosmo Energy 5021.T | Japan | $3.74B | -10% | 0% | 9% | 7.0× | -18.5% | +3.7% |
| Calumet CLMT | United States | $3.48B | +24% | +13% | 1% | 9.1× | 39.0% | +12.8% |
| Neste NESTE.HE | Finland | $23.6B | -5% | +15% | 14% | 6.9× | -6.5% | +10.0% |
| Par Pacific PARR | United States | $3.41B | +6% | +29% | 13% | 3.4× | n/a | n/a |
| Icahn Enterprises L.P IEP | United States | $3.38B | -41% | +16% | -7% | 9.5× | n/a | n/a |
| Formosa Petrochemical Corporati 6505.TW | Taiwan | $24.7B | +58% | +2% | 10% | 10.4× | -7.7% | +8.6% |
| Mangalore Refinery & Petrochemicals MRPL.NS | India | $3.26B | +13% | +38% | 6% | 4.6× | -6.0% | +22.9% |
| DOF DOFG.OL | Norway | $3.24B | -12% | +22% | 26% | 7.8× | 0.9% | +28.0% |
| Viva Energy VEA.AX | Australia | $3.04B | +19% | -2% | 4% | 7.8× | -15.1% | +18.2% |