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Korea's national tobacco company; also sells ginseng health products (Korea Ginseng Corp) and exports cigarettes globally.
Korea's national tobacco company; also sells ginseng health products (Korea Ginseng Corp) and exports cigarettes globally.
Sells cigarettes through wholesalers and convenience stores to habit-bound domestic smokers, while exports go to markets such as the Middle East and Central Asia. The ginseng unit sells under the Cheong Kwan Jang brand as a non-tobacco line. The state monopoly ended in 2002 when the company was privatized.
In one line: Korea's Altria, plus a ginseng/health-supplement arm.
Moat: narrow (brand, distribution, regulatory licence). Dominant domestic distribution and brand; former state tobacco monopoly heritage.
Headquarters: Daejeon, South Korea · Founded: 1899 · Employees: 4,331
Size KT&G (033780.KS) is a South Korea Consumer Staples company (Tobacco) with a market value of $14.5B, the 27th largest of 495 South Korea companies the cockpit tracks. Shares closed at ₩189,900 on 6 Nov 2026.
Performance Over six months the shares gained 6.5%, against -7.9% for the median peer and -24.5% for the South Korea market (cap-weighted) — 5th highest of 14 in its peer set.
Growth Revenue grew 11.5% over the last twelve months (peer median +1.2%); the operating margin is 21.4% (peer median 21.3%).
Valuation It trades at 15.2× forward earnings against a peer median of 16.4× (6th cheapest of 13).
Price implies For today's price to make sense, revenue must grow about -4% a year for seven years (Req g). Recent delivered growth is +5%, so the hurdle is -10 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 5.4 points above its cost of capital (5.4% WACC).
Next results Next results expected around 21 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₩6.95T | ₩6.58T | ₩5.91T | ₩5.86T | ₩5.85T |
| Revenue growth | — | +11% | +1% | 0% | — |
| Gross profit | ₩3.22T | ₩3.05T | ₩2.82T | ₩2.73T | ₩2.96T |
| EBITDA | ₩1.80T | ₩1.63T | ₩1.44T | ₩1.40T | ₩1.49T |
| Net income | ₩1.44T | ₩1.09T | ₩1.17T | ₩903B | ₩1.02T |
| Free cash flow | ₩493B | -₩17.0B | ₩112B | ₩850B | ₩753B |
| Capital expenditure | ₩556B | ₩680B | ₩800B | ₩515B | ₩286B |
| Total debt | ₩1.98T | ₩1.84T | ₩1.52T | ₩605B | ₩193B |
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 |
|---|---|---|---|---|---|---|
| KT&G 033780.KS | $14.5B | +7% | +11% | 21% | 15.2× | -4.2% |
| Philip Morris International PM | $308B | +17% | +8% | 38% | 22.6× | -0.8% |
| British American Tobacco p.l.c BATS.L | $132B | -1% | +1% | 38% | 12.6× | 3.8% |
| Japan Tobacco 2914.T | $70.6B | +9% | +13% | 25% | 16.8× | -5.3% |
| Altria MO | $127B | +13% | +2% | 75% | 12.9× | -10.9% |
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 | 033780.KS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +5.7% | +3.6% | 7th highest of 14 |
| 6-month return | +6.5% | -7.9% | 5th highest of 14 |
| Distance from 52-week high | -5.5% | -31.8% | 2nd highest of 14 |
| Revenue growth (TTM) | +11.5% | +1.2% | 4th highest of 14 |
| Operating margin | 21.4% | 21.3% | 7th highest of 14 |
| Forward P/E | 15.2× | 16.4× | 6th cheapest of 13 |
| Growth the price implies (Req g, 7 yrs) | -4.2% | 3.8% | 6th least demanding of 14 |
| Growth delivered (Del g) | +5.4% | +5.7% | 7th lowest of 14 |
| Hurdle (Req g minus delivered) | -9.6 pp | -7.9 pp | 7th least demanding of 14 |
| ROIC minus cost of capital | +5.4 pp | +8.4 pp | 7th lowest of 14 |
| EV / EBITDA | 11.2× | 10.5× | 7th most expensive of 14 |
| Net debt / EBITDA | 0.2× | 0.5× | 6th least indebted of 14 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| KT&G 033780.KS | South Korea | $14.5B | +7% | +11% | 21% | 15.2× | -4.2% | +5.4% |
| Imperial Brands IMB.L | United Kingdom | $29.9B | +5% | +5% | 19% | 8.9× | -9.3% | +2.7% |
| Smoore International 6969.HK | Hong Kong | $6.61B | -19% | +25% | 7% | 32.3× | 28.7% | +6.6% |
| ITC ITC.NS | India | $37.5B | -8% | -2% | 30% | 20.2× | 13.2% | +9.8% |
| Japan Tobacco 2914.T | Japan | $70.6B | +9% | +13% | 25% | 16.8× | -5.3% | +10.6% |
| Godfrey Phillips India GODFRYPHLP.NS | India | $2.96B | -24% | +1% | 21% | 16.0× | 27.1% | +20.6% |
| China Tobacco International (HK) 6055.HK | Hong Kong | $2.31B | -12% | -20% | 10% | 19.8× | 4.1% | +33.1% |
| Altria MO | United States | $127B | +13% | +2% | 75% | 12.9× | -10.9% | -0.7% |
| British American Tobacco p.l.c BATS.L | United Kingdom | $132B | -1% | +1% | 38% | 12.6× | 3.8% | -0.1% |
| Turning Point Brands TPB | United States | $1.32B | -29% | +20% | 17% | 71.8× | 11.0% | +2.7% |
| Scandinavian Tobacco Group A/S STG.CO | Denmark | $890M | +10% | -4% | 14% | 7.6× | -9.1% | +2.4% |
| Philip Morris International PM | United States | $308B | +17% | +8% | 38% | 22.6× | -0.8% | +7.2% |
| Miquel y Costas & Miquel MCM.MC | Spain | $434M | -29% | -4% | 15% | n/a | -7.7% | +2.7% |
| VST Industries VSTIND.NS | India | $349M | -25% | -2% | 22% | 8.7× | 9.5% | +5.7% |