SEOUL CITY GAS CO., LTD. (017390) AI Stock Analysis

SEOUL CITY GAS CO., LTD.

(Korea Exchange:017390)

Select Model

Rating:63Neutral

Price Target:KRW 55,061.00▲(6.50% Upside)

Action:initiatedcoverage

Date:10/28/26

The score is primarily supported by a strong, low-leverage balance sheet and attractive valuation (low P/E and high dividend yield). Offsetting these positives are modest profitability and inconsistent cash flow generation, along with weak technicals (below major moving averages and negative MACD).

Positive Factors

Licensed Gas Distribution NetworkThe company operates an established city-gas distribution network serving customers within a licensed area. This infrastructure-centered model provides a durable operating base and supports continuity in the core business over the next several quarters.

Negative Factors

Weak Revenue and Thin MarginsSlightly declining revenue and thin operating and net margins limit operating leverage. This leaves less room for earnings expansion and makes the business more dependent on maintaining its existing regulated earnings base rather than generating strong organic growth.

SEOUL CITY GAS CO., LTD. (017390) vs. SPDR S&P 500 ETF (SPY)

Market Cap: KRW 205.91B
Dividend Yield: 5.32%
Average Volume (3M): 4,552
Price to Earnings (P/E): 9.7
Beta (1Y): 0.10
Revenue Growth: -1.87%
EPS Growth: -41.52%
Country: KR
Employees: 499
Sector: General
Sector Strength: 55
Industry: Regulated Gas

SEOUL CITY GAS CO., LTD. Business Overview & Revenue Model

Company Description

Seoul City Gas Co., Ltd. is a South Korean energy provider that distributes natural gas to a wide array of customers, encompassing residential, commercial, and industrial sectors. The company manages a vast pipeline network extending 4,441 kilometers...

SEOUL CITY GAS CO., LTD. Financial Statement Overview

Summary

Balance sheet strength (very low leverage and solid equity base) supports resilience, but overall fundamentals are held back by thin operating/net margins, slightly lower TTM revenue, and volatile cash flow with uneven conversion of earnings into free cash flow.

Income Statement

56Neutral

Balance Sheet

84Very Positive

Cash Flow

48Neutral

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.79T	1.83T	1.70T	1.72T	1.72T	1.28T
Gross Profit	189.51B	192.92B	208.94B	193.54B	155.13B	139.29B
EBITDA	57.03B	57.32B	75.75B	66.50B	45.03B	34.85B
Net Income	22.37B	30.99B	33.89B	20.14B	17.68B	8.30B
Balance Sheet
Total Assets	1.63T	1.85T	1.77T	1.78T	1.87T	1.66T
Cash, Cash Equivalents and Short-Term Investments	713.95B	645.89B	638.12B	638.38B	623.85B	459.98B
Total Debt	52.55B	54.72B	55.97B	56.26B	55.45B	56.88B
Total Liabilities	487.87B	731.24B	668.25B	709.42B	818.37B	623.83B
Stockholders Equity	1.14T	1.12T	1.09T	1.06T	1.05T	1.03T
Cash Flow
Free Cash Flow	25.68B	48.63B	-9.72B	-19.95B	63.31B	-25.09B
Operating Cash Flow	59.45B	82.86B	23.93B	12.92B	89.74B	2.59B
Investing Cash Flow	-41.59B	-83.86B	11.70B	-20.74B	-79.44B	29.04B
Financing Cash Flow	-15.99B	-13.82B	-16.34B	-11.39B	-10.63B	-12.23B

SEOUL CITY GAS CO., LTD. Technical Analysis

Technical Analysis SentimentNegative

Last Price51700.00

Price Trends

50DMA54278.00Negative

100DMA54592.00Negative

200DMA59242.00Negative

Market Momentum

MACD-838.98Positive

RSI38.75Neutral

STOCH38.49Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For KR:017390, the sentiment is Negative. The current price of 51700.00 is below the 20-day moving average (MA) of 52675.00, below the 50-day MA of 54278.00, and below the 200-day MA of 59242.00, indicating a bearish trend. The MACD of -838.98 indicates Positive momentum. The RSI at 38.75 is Neutral, neither overbought nor oversold. The STOCH value of 38.49 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for KR:017390.

SEOUL CITY GAS CO., LTD. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

KR:017390 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
KR:267290	75Outperform	KRW 120.16B	3.24	―	4.29%	-5.10%	27.80%
KR:034590	70Outperform	KRW 105.52B	5.37	―	5.37%	-11.65%	1.48%
KR:117580	66Neutral	KRW 188.46B	7.80	―	3.61%	-6.14%	-7.46%
KR:036460	63Neutral	KRW 3.19T	5.54	―	3.10%	-9.84%	-41.12%
KR:017390	63Neutral	KRW 198.16B	9.69	―	5.32%	-1.87%	-41.52%
KR:016710	59Neutral	KRW 107.96B	4.34	―	3.71%	-6.48%	4.91%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%

* General Sector Average

Performance Comparison

KR:017390 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
KR:017390	SEOUL CITY GAS CO., LTD.	51700.00	-8421.77	-14.01%
KR:016710	DAESUNG HOLDINGS Co., Ltd.	6730.00	-1267.78	-15.85%
KR:034590	Incheon City Gas Co., Ltd.	25600.00	640.53	2.57%
KR:036460	Korea Gas Corporation	37200.00	-3491.38	-8.58%
KR:117580	Daesung Energy Co. Ltd.	6930.00	-1057.86	-13.24%
KR:267290	KyungDong City Gas Co. Ltd.	20400.00	830.23	4.24%

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Oct 28, 2026

SEOUL CITY GAS CO., LTD. AI Stock Analysis