Latest Ratios: P/E Ratio 48.3x · EV/EBITDA 6.3x · ROE 3.3%. (1998–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $14.1B | $7.9B | $8.2B | $8.4B | $8.1B | $10.4B | $9.7B | $9.0B | $10.3B | $10.8B | $8.0B |
| Enterprise Value | $21.0B | $9.29T | $8.75T | $9.21T | $9.21T | $9.51T | $10.80T | $9.71T | $8.16T | $6.02T | $5.87T |
| P/E Ratio → | 48.31 | 0.02 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.00 | 0.00 | 0.00 |
| P/S Ratio | 1.11 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| P/B Ratio | 1.51 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| P/FCF | 11.02 | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | 0.00 | 0.02 | 0.01 | 0.01 | 0.01 |
| P/OCF | 4.79 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.54 | 0.49 | 0.52 | 0.53 | 0.57 | 0.67 | 0.63 | 0.48 | 0.34 | 0.34 |
| EV / EBITDA | 6.30 | 2.07 | 1.62 | 1.67 | 1.72 | 1.71 | 2.07 | 1.94 | 1.98 | 1.35 | 1.34 |
| EV / EBIT | 27.83 | 8.40 | 4.04 | 4.90 | 5.89 | 4.76 | 9.04 | 8.72 | 1.90 | 1.63 | 2.46 |
| EV / FCF | — | 5.40 | 3.46 | 4.93 | 4.36 | 5.52 | 5.06 | 20.71 | 7.86 | 6.06 | 5.26 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 87.3% | 87.3% | 87.3% | 87.4% | 87.0% | 86.7% | 86.5% | 84.5% | 82.7% | 82.3% | 81.4% |
| Operating Margin | 5.9% | 5.9% | 9.4% | 10.0% | 9.2% | 8.6% | 6.4% | 6.4% | 4.9% | 7.0% | 7.6% |
| Net Profit Margin | 2.4% | 2.4% | 7.0% | 6.2% | 5.3% | 14.4% | 9.4% | 5.8% | 18.5% | 14.8% | 9.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 3.3% | 3.3% | 10.4% | 9.0% | 7.5% | 13.1% | 6.4% | 3.9% | 15.5% | 15.2% | 10.6% |
| ROA | 1.3% | 1.3% | 4.1% | 3.6% | 2.9% | 6.1% | 3.3% | 2.0% | 8.3% | 8.0% | 5.6% |
| ROIC | 3.6% | 3.6% | 6.0% | 6.2% | 5.5% | 3.8% | 2.3% | 2.3% | 2.3% | 4.0% | 4.4% |
| ROCE | 4.5% | 4.5% | 7.6% | 7.6% | 6.8% | 4.5% | 2.7% | 2.7% | 2.7% | 4.8% | 5.4% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.86 | 0.86 | 0.91 | 0.87 | 0.91 | 0.84 | 0.50 | 0.48 | 0.43 | 0.41 | 0.46 |
| Debt / EBITDA | 2.40 | 2.40 | 2.00 | 1.93 | 2.07 | 1.87 | 2.34 | 2.19 | 2.34 | 1.67 | 1.69 |
| Net Debt / Equity | — | 0.74 | 0.74 | 0.75 | 0.76 | 0.77 | 0.44 | 0.43 | 0.36 | 0.33 | 0.36 |
| Net Debt / EBITDA | 2.07 | 2.07 | 1.62 | 1.67 | 1.72 | 1.71 | 2.07 | 1.94 | 1.98 | 1.34 | 1.34 |
| Debt / FCF | — | 5.39 | 3.46 | 4.93 | 4.36 | 5.51 | 5.05 | 20.69 | 7.85 | 6.05 | 5.25 |
| Interest Coverage | 2.85 | 2.85 | 4.96 | 4.89 | 4.91 | 6.88 | 4.48 | 2.83 | 13.69 | 11.47 | 7.76 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.03 | 1.03 | 0.81 | 0.94 | 0.90 | 0.91 | 1.07 | 1.04 | 1.16 | 0.87 | 0.93 |
| Quick Ratio | 1.00 | 1.00 | 0.79 | 0.92 | 0.88 | 0.88 | 1.05 | 1.02 | 1.12 | 0.83 | 0.89 |
| Cash Ratio | 0.26 | 0.26 | 0.25 | 0.25 | 0.26 | 0.20 | 0.36 | 0.29 | 0.40 | 0.31 | 0.32 |
| Asset Turnover | — | 0.57 | 0.59 | 0.58 | 0.55 | 0.54 | 0.34 | 0.35 | 0.40 | 0.52 | 0.55 |
| Inventory Turnover | 12.96 | 12.96 | 10.89 | 12.35 | 13.54 | 10.88 | 12.66 | 14.69 | 10.12 | 11.39 | 12.27 |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 3.4% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Payout Ratio | 155.9% | 155.9% | 65.9% | 70.8% | 99.1% | 42.7% | 49.3% | 80.9% | 22.6% | 27.2% | 42.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.1% | 4981.7% | 15207.1% | 12850.5% | 11105.7% | 11920.8% | 6968.2% | 9679.4% | 30327.7% | 24177.1% | 20745.9% |
| FCF Yield | 9.1% | 21860.0% | 30882.0% | 22283.9% | 26138.2% | 16494.0% | 22094.0% | 5196.7% | 10105.8% | 9245.9% | 13971.4% |
| Buyback Yield | 0.0% | 0.0% | 100.0% | 100.0% | 0.0% | 100.0% | 100.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 3.4% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Shares Outstanding | — | $383M | $389M | $391M | $393M | $392M | $398M | $394M | $386M | $388M | $386M |
Includes 30+ ratios · 28 years · Updated daily
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Quick answers to the most common questions about buying SKM stock.
SK Telecom Co.,Ltd's current P/E ratio is 48.3x. The historical average is 0.0x. This places it at the 100th percentile of its historical range.
SK Telecom Co.,Ltd's current EV/EBITDA is 6.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 1.3x.
SK Telecom Co.,Ltd's return on equity (ROE) is 3.3%. The historical average is 13.6%.
Based on historical data, SK Telecom Co.,Ltd is trading at a P/E of 48.3x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
SK Telecom Co.,Ltd's current dividend yield is 3.36% with a payout ratio of 155.9%.
SK Telecom Co.,Ltd has 87.3% gross margin and 5.9% operating margin.
SK Telecom Co.,Ltd's Debt/EBITDA ratio is 2.4x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.
Key Metrics
Top Statement Risk
Regulatory price caps and ARPU stagnation
Valuation Anchored to Bond Proxy Status
SKM's P/E of 50.57 appears elevated relative to its peer KT Corporation's 7.57, but the 3.2% dividend yield and 6.50x EV/EBITDA suggest the market is pricing it as a defensive yield play rather than a growth story.
The extreme P/E multiple is likely distorted by volatile, non-recurring earnings, making the EV/EBITDA and dividend yield more reliable valuation anchors for this regulated utility-like entity. The 3.2% yield, while below KT's 4.3%, offers a competitive alternative to Korean Treasury bonds, but the premium over peers warrants scrutiny given the company's decelerating revenue growth and compressed net margins. Investors should monitor whether the yield is sustainable given the inconsistent dividend payout history.
Earned ROE Lags Implied Allowed Return
SKM's trailing twelve-month ROE of approximately 2.5% appears to significantly trail the typical regulatory allowed return for Korean telecoms, which is often in the 7-8% range, suggesting persistent under-earning relative to its authorized capital structure.
The chronic gap between earned and allowed ROE indicates that regulatory rate cases have not fully compensated for revenue headwinds or cost pressures, or that the company's cost of capital has risen faster than allowed rates. This persistent under-earning erodes the regulatory compact's value proposition, as shareholders are not receiving the return on invested capital that regulators have deemed fair. The trend suggests management may need to more aggressively pursue regulatory recovery mechanisms or operational efficiencies to close this gap.
Volatile Margins Signal Cost Recovery Challenges
Operating margin has swung from 0.7% in Q4 2025 to 36.4% in Q2 2026, indicating that reported profitability is heavily influenced by non-operational items rather than stable, regulated earnings power.
This extreme volatility suggests that core operational cost recovery is inconsistent, with margins likely being inflated or deflated by one-time items such as asset impairments, spectrum-related charges, or gains from strategic investments. The underlying trend points to a high fixed-cost structure where revenue contraction directly pressures operating profitability, as seen in the Q3 2025 operating loss. Sustainable margin expansion would require either regulatory approval for higher tariffs or a structural reduction in network and marketing costs.
Conservative Leverage Provides Regulatory Flexibility
The debt-to-capital ratio of 0.41 and FFO/Debt of 28.25x indicate a conservatively capitalized balance sheet, providing significant headroom for future network investments and regulatory capital structure decisions.
The improving leverage profile, with debt-to-capital declining from 0.48 in early 2025, suggests a deliberate deleveraging strategy that may be aimed at strengthening the balance sheet ahead of major 6G spectrum auctions or to improve regulatory standing. The robust interest coverage of 6.52x and high FFO/Debt ratio indicate minimal credit risk, positioning SKM favorably compared to more leveraged peers like PLDT. This financial flexibility is a key asset in a capital-intensive industry facing ongoing regulatory uncertainty.
Dividend Policy Appears Flexible, Not Fixed
Dividend payout has been highly inconsistent, ranging from 5.0% to 133.6% of earnings over the past ten quarters, suggesting management prioritizes balance sheet flexibility over a predictable shareholder return policy.
The erratic payout pattern, including quarters with no dividend payment, indicates that SKM's dividend is not a fixed commitment but rather a residual claim on cash flows after capital expenditure and regulatory requirements are met. While the 3.2% current yield is attractive, its sustainability is questionable given the volatile earnings base and lumpy capital expenditure cycle. Investors relying on dividend income should monitor the company's free cash flow generation and management's stated commitment to shareholder returns.
P/E Multiple Misleads in Regulated Context
The P/E ratio of 50.57 is the most commonly misapplied metric for SKM, as it is distorted by volatile, non-recurring earnings and fails to reflect the company's regulated utility-like cash flow profile.
Comparing SKM's P/E to non-regulated technology or industrial peers is misleading because utility valuations are primarily driven by dividend yield, regulated asset base, and allowed return on equity, not earnings growth multiples. The extreme P/E is a mathematical artifact of depressed, volatile earnings rather than a reflection of growth expectations. A more appropriate valuation framework would focus on EV/EBITDA, dividend yield relative to long-term bond rates, and the present value of its regulated cash flows.