Silla Co. (004970) 🔎 In-depth
KOSPI · Price as of 2026-08-06 · Updated 2026-08-09
Silla Co. makes money from deep-sea fishing, catching marine products directly, and from trading marine products, a structure in which catch volume, fish prices, exchange rates, and fuel costs feed straight into quarterly results. For full-year 2025 it posted revenue of ₩454.7 billion, an operating loss of ₩1.6 billion, and net profit of ₩4.6 billion, and in the first quarter of 2026 operating and net profit rebounded sharply, a recovery signal, while it also continued cash and in-kind dividends. What stands out recently is that once earnings swings settle, the strengths of a low P/B of 0.24x and a dividend yield of 5.6% become clear; but because fishing makes quarterly results swing widely with catch, fish prices, and exchange rates, earnings volatility can stand out in quarters when prices are weak or one-off costs overlap.
This page organises public market and filing data for information purposes. It is not a recommendation to buy or sell, nor investment advice. Metrics labelled “forward” are our own unverified estimates. Please verify with the original DART filings and decide at your own responsibility.
30-second brief
Pulled directly from the computed values below — not a separately written opinion.
What do the SourceComputedEstimateReading tags mean?
Source filings and exchange data · Computed calculated from public data · Estimate our own unverified projection · Reading drafted automatically, then rule-checked. See AI & Automation.
Core valuation metric
This stock's effective sub-sector is “Fisheries & Seafood Processing” (Retail, Consumer Goods & Food · Food & Beverage), a type typically read first through P/E.
Seafood and seafood processing shift somewhat with catch levels and input costs, but they earn fairly steadily on the essential demand for food. That earnings stability makes price-to-earnings (P/E) — the price against actual net profit — a good fit.
Price against earnings alone becomes unstable when earnings swing. Reading it together with price against assets helps gauge the downside.
That said, profitability is currently weak, so this metric is best treated as a rough reference only.
This note explains how each sector is typically valued and is educational context only, not investment advice.
At-a-glance assessment financial health · growth · profitability · valuation
- Debt ratio, current ratio and interest burden all look healthy.
- Revenue fell 3.4% year over year (3-year trend: mixed).
- Most recent quarter (Q1 2026) revenue was 22.9% lower than a year earlier.
- ROE is 2.5% (controlling-interest basis). It is below the sector average.
- Operating margin is -0.1%.
- The P/E sits above the sector median, reflecting elevated expectations.
Ownership & governance As of 2025-12-31
Largest shareholder Silla Holdings 40.18% (corporate)
Controlling bloc incl. related parties 64.95%
With the controlling bloc holding 65%, control is very secure but the free float is thin.
🔎 In-depth analysis Reading
Silla Co. belongs to the fishing sector, with its main revenue sources being deep-sea fishing, catching marine products directly, and trading the marine products it catches. Its periodic reports lay out business items covering key products and services, raw materials and production facilities, revenue and order status, and risk management and derivatives. Because catch volume, fish prices (marine-product market prices), exchange rates, and fuel costs drive results, the amount caught and the selling price each quarter feed straight into earnings. With a market cap of ₩141.8 billion, not a large stock, it is best to watch the business flow together with the effect that each dividend or financing filing has on the balance sheet and share count.
The latest close is ₩9,090 and the market capitalization is ₩145.4 billion. The price sits below its 20-day moving average (₩9,260) and below its 60-day moving average (₩9,162). It is under both its short- and medium-term moving averages, so the trend looks subdued. The RSI (a supplementary indicator that gauges the strength of gains versus losses over the past 14 days on a 0-100 scale) is 44.0, a neutral level. The one-month change is -1.5%, the three-month change is -4.2%, and the position relative to the 52-week high is -13.4%. Relative strength versus the KOSPI is 33 (on a 1-99 scale, converted from returns against the index over the past year with more weight on recent performance; higher means stronger than the market). It is stronger than roughly 33% of all stocks. Over the past three months it outpaced the index by 11.5%. Chart interpretation is best done alongside trading volume and the dates on which disclosures occur.
For the most recent year (2025), revenue was ₩454.7 billion, operating profit was -₩1.6 billion, and net profit was ₩4.6 billion. The trailing P/E (share price to the past year's earnings) is 31.34x, which looks high on the number alone, but this is largely because 2025 operating profit was temporarily pushed into a loss, shrinking the earnings in the denominator. In other words, the multiple looks inflated because a single year's earnings bottomed out, not because the stock is expensive. On the asset-value basis, the P/B (share price to book value) is 0.24x, with the share price sitting at about a quarter of the company's net assets, a clear undervaluation zone on an asset basis. Shareholders' equity of ₩601.5 billion against a market cap of ₩141.8 billion tells the same story. The debt ratio is 20.1% and the current ratio (assets that can be mobilized immediately against debt due within a year) is 293.6%, so short-term liquidity is ample. ROE (how much is earned per year on equity) is a low 0.8%, again a result of depressed 2025 earnings, with room to rise together with earnings as they normalize.
Annual revenue held in the ₩450 billion range without major swings, at ₩394.1 billion in 2023, ₩470.5 billion in 2024, and ₩454.7 billion in 2025. Earnings, however, swung widely: operating profit turned to a loss from ₩16.8 billion in 2024 to -₩1.6 billion in 2025, and net profit fell from ₩39.6 billion to ₩4.6 billion. This appears to result from swings in catch, fish prices, and exchange rates shaking a single year's results. The important change appears in the most recent quarter. First-quarter 2026 (cumulative) revenue was ₩85.9 billion, down 22.9% year on year, but operating profit rose 28.6% to ₩4.5 billion and net profit surged 815% to ₩11.8 billion. Even with revenue down, fish and selling prices provided support and cost control let earnings rebound sharply. Given that the prior year's operating profit was a loss, this pattern of a clearly wider profit in a single quarter could be the starting point of a recovery phase. The company's own 2026 business outlook also sketches operating profit returning to positive at ₩5.7 billion.
On March 20, 2026, the company voluntarily disclosed a corporate value-up plan, setting out its own direction for enhancing shareholder value. If it contains figures, it serves as a primary basis for gauging the earnings trend; if it is mainly directional, read it as a document reflecting intent. On February 3, 2026, an earnings-structure change filing confirmed full-year 2025 revenue of ₩454.7 billion, an operating loss of ₩1.6 billion, and net profit of ₩4.6 billion, and on the same day the record date for cash and in-kind dividends was set, advancing the dividend process. Dividend-related filings are best checked together with whether earnings power and cash flow support the return.
Silla Co.'s strengths are clear. First, at a P/B of 0.24x, the share price is about a quarter of net assets, a distinct undervaluation on an asset basis. Second, the dividend yield of 5.6% is high, so cash returns can be expected even while holding. Third, operating and net profit rebounded sharply in the first quarter of 2026, a recovery signal against the loss of the prior full year. On the other side, a point to note is that, by the nature of fishing, quarterly results swing widely with catch, fish prices, and exchange rates. The trailing P/E in the 30s also reflects temporarily depressed 2025 earnings, so the point to watch is whether earnings normalization actually follows through in the quarterly results. In short, this stock's strengths of a low P/B and high dividend become clear once earnings swings settle; conversely, in quarters when prices are weak or one-off costs overlap, earnings volatility can stand out.
🔎 Valuation vs peers Overvalued
A peer group within fishing with adjacent market capitalizations.
| Peer | P/E | P/B | ROE |
|---|---|---|---|
| Silla Co. | 31.34x | 0.24x | 2.50% |
Within fishing, we first looked at a public-data peer group with nearby market capitalizations. The current P/E (share price to one year of earnings) is 31.34x and the P/B (share price to book value) is 0.24x. That said, because smaller-cap names are heavily affected by earnings swings and financing filings, we did not draw firm conclusions from metrics based on last year's confirmed results alone. The basis for the outlook box is a DART seasonality approximation.
Earnings outlook Estimate company-stated · verified
| Type | Period | Revenue | Operating profit | Net profit |
|---|---|---|---|---|
| This year | 2026 | ₩360.7 billion | ₩5.7 billion | — |
| Next quarter | Q2 2026 | ₩91.0 billion | ₩0.4 billion | — |
Price history Close · MA20 · MA60
The latest close is ₩9,090 and the market capitalization is ₩145.4 billion. The price sits below its 20-day moving average (₩9,260) and below its 60-day moving average (₩9,162). It is under both its short- and medium-term moving averages, so the trend looks subdued. The RSI (a supplementary indicator that gauges the strength of gains versus losses over the past 14 days on a 0-100 scale) is 44.0, a neutral level. The one-month change is -1.5%, the three-month change is -4.2%, and the position relative to the 52-week high is -13.4%. Relative strength versus the KOSPI is 33 (on a 1-99 scale, converted from returns against the index over the past year with more weight on recent performance; higher means stronger than the market). It is stronger than roughly 33% of all stocks. Over the past three months it outpaced the index by 11.5%. Chart interpretation is best done alongside trading volume and the dates on which disclosures occur.
Relative performance stock vs index · start = 100
Excess return vs index · 3M +11.48% / 6M -21.22% / 12M -52.20%
Key metrics Computed vs whole-market median
Valuation
The P/E of 31.34x is above the whole-market median (12.97x). The P/B of 0.24x is below the whole-market median (0.84x). That said, this P/E is based on last year's (trailing) results. With recent quarterly earnings up sharply, the trailing P/E can look higher than it really is, so a precise read is best done on this year's expected (forward) earnings.
Enterprise value (EV)
EV = market cap + net debt. It reflects cash and debt, so it captures the real cost of the whole business that market cap alone misses; lower multiples are cheaper relative to earnings or sales.
Intrinsic value (DCF estimate) Estimate
Model output — not a price target. This is what the formula returns under the assumptions below, not a view on where the share price should go.
DCF (discounted cash flow) estimate — discount rate 9.2%, initial growth 4.0%→terminal 2.0%, 10-yr forecast, earnings-based. A reference range that shifts materially with assumptions.
Profitability & financials
Return on equity (ROE) is 2.5%, below the whole-market average (3.0%). The operating margin is -0.1%. The debt ratio is 18.2%, so the financial structure is stable.
Growth FY2025 · annual report (consolidated)
| Item | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|
| Revenue | $276.8M | $330.5M | $319.5M | -3.35% ↓ slower |
| Operating profit | $9.6M | $11.8M | -$1.1M | -109.31% ↓ slower |
| Net profit | $12.1M | $27.8M | $3.3M | -88.28% ↓ slower |
| 5-year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $243.4M | $303.9M | $276.8M | $330.5M | $319.5M |
| Operating profit | $11.9M | $10.2M | $9.6M | $11.8M | -$1.1M |
| Net profit | $31.3M | $10.0M | $12.1M | $27.8M | $3.3M |
| Revenue CAGR | 4-yr avg 7.03% | ||||
Revenue fell 3.4% year over year (2023 ₩394.1 billion → 2024 ₩470.5 billion → 2025 ₩454.7 billion), and the three-year trend is 'mixed'. The rate of decline widened from the prior year. Operating profit fell 109.3% year over year. The decline widened. Over the 5 years on record, revenue compound annual growth (CAGR) is 7.0%. The two-year revenue CAGR is 7.4%. In the most recent quarter (Q1 2026), revenue was 22.9% lower than the same period a year earlier.
Latest quarterly results Source Q1 2026 · vs year-ago
Technical indicators Computed
What stands out
- The dividend yield, at 5.5%, is on the high side.
- The balance sheet is stable in terms of debt and liquidity.
Points to watch
- Revenue fell 3.4% year over year (3-year trend: mixed).
- The price is high versus peers, so expectations already appear priced in.
Recent news & events searched · sourced
- 2026-03-20UpdateCorporate value-up plan (voluntary disclosure): see the original company plan.This is a planning document the company presented itself. If it contains figures, treat it as a primary basis for the outlook box; if not, read it only as an indication of direction. Source
- 2026-02-03EarningsChange in revenue or profit structure of 30% or more (15% for large corporations): annual revenue ₩454.7 billion, operating loss ₩1.6 billion, net profit ₩4.6 billion.This is recent confirmed or provisional earnings data. Check whether it points in the same direction as the annual trend and whether any one-off factors are present. Source
- 2026-02-03UpdateDecision on closing the shareholder register (record date) for cash and in-kind dividends: check the terms of the return.This is a filing related to cash returns or changes in share count. Check whether earnings power and cash flow provide backing. Source
Figure cross-check computed ↔ external
| Metric | Computed | External | Status | Source |
|---|---|---|---|---|
| Closing price | ₩9,090 | ₩9,090 | Confirmed | link |
| Latest quarterly results | revenue ₩85.9 billion, operating profit ₩4.5 billion | revenue ₩85.9 billion, operating profit ₩4.5 billion | Confirmed | link |
| Annual results | revenue ₩454.7 billion, operating profit -₩1.6 billion | revenue ₩454.7 billion, operating profit -₩1.6 billion | Confirmed | link |
| Original outlook/plan filing | — | — | Confirmed | link |
| Original earnings filing | revenue or profit structure changed by 30% or more (15% for large companies): revenue ₩454.7 billion · operating profit -₩1.6 billion · net profit ₩4.6 billion | revenue or profit structure changed by 30% or more (15% for large companies): revenue ₩454.7 billion · operating profit -₩1.6 billion · net profit ₩4.6 billion | Confirmed | link |
| Original shareholder-return filing | record date set for cash/stock dividend: check the payout terms | record date set for cash/stock dividend: check the payout terms | Confirmed | link |
| Outlook box basis | DART | DART | Confirmed | link |
Recent filings Source
- 2026-06-01Corporate governance report
- 2026-05-15PeriodicAnnual business report (amended)
- 2026-05-15PeriodicQuarterly report
- 2026-04-30OwnershipOwnership-change filing
- 2026-04-29OwnershipLargest-shareholder ownership change report
- 2026-04-17OwnershipOwnership-change filing
- 2026-04-13OwnershipOwnership-change filing
- 2026-04-08OwnershipOwnership-change filing
- 2026-03-26Shareholders' meeting notice
- 2026-03-20Disclosure
- 2026-03-20OwnershipOwnership-change filing
- 2026-03-19Amended filing
📖 Plain-language glossary — expand if you are new to this
- P/E
- How many times a year's net profit the price is worth (lower is cheaper relative to earnings). The P/E here is on trailing (last full-year) results; for companies whose earnings swing fast (memory chips and other cyclicals/high-growth), a forward P/E on this year's expected earnings is more accurate.
- P/B
- Price relative to net assets (equity). Around 1x means it trades near book value; below 1x means below book.
- P/S
- Price relative to a year's revenue — useful for growth companies with thin earnings.
- Net debt / EV
- Net debt = interest-bearing debt − cash. Negative means more cash than debt (net cash). EV (enterprise value) = market cap + net debt, closer to what it would cost to buy the whole business.
- EV/EBIT · EV/EBITDA · EV/Sales
- Enterprise value against operating profit (EBIT), EBITDA, or revenue. Unlike P/E these reflect debt and cash; lower is cheaper relative to earnings power or sales.
- FCF / FCF yield
- Free cash flow = operating cash − capex, the cash actually left over. FCF yield = FCF ÷ market cap; higher means more cash generated per unit of market value.
- Intrinsic value (DCF)
- Future free cash flow (or, for some capex-heavy but profitable names, forecast earnings) discounted to today to estimate per-share value. Because it shifts a lot with the discount-rate and growth assumptions, it is shown as a bear/base/bull range, and the basis and assumptions are disclosed in one line beneath it.
- ROE
- How much profit the company earns in a year on its equity (%). Higher means better returns on capital.
- EPS / BPS
- Earnings per share / net assets (book value) per share.
- Operating / net margin
- Profit left from the core business / final profit after tax and interest, per unit of revenue.
- Debt ratio
- Debt relative to equity (%). Higher means more reliance on borrowing (norms vary by sector).
- Current ratio
- Assets convertible to cash within a year against debt due within a year. Above 100% leaves some short-term headroom.
- Interest coverage
- How many times operating profit covers the interest owed. Below 1x means operating profit alone struggles to cover interest.
- Dividend yield / payout ratio
- The year's dividend as a % of today's price / the share of earnings paid out as dividends.
- Revenue CAGR
- Multi-year growth expressed as a single yearly average (compound annual growth rate).
- RSI (short-term signal)
- Whether recent price action is overheated or beaten down. Above 70 is overbought, below 30 oversold.
- MA20 / MA60 (moving averages)
- The 20- and 60-day average price. Price above them signals a firmer short-term trend.
- vs 52-week high
- How far below the past year's peak the price sits now (%).
All figures are for reference only; how they read varies by sector and over time.
Sources: Korea FSC market-price API (data.go.kr), OpenDART, KRX/KIND — public data only.
Bong Stocks presents public-data-based information for reference only. It is not investment advice and contains no target prices, ratings, or buy/sell recommendations. Verify independently before making any decision.