Samyoung M-Tek (054540) 🔎 In-depth
KOSDAQ · Price as of 2026-08-06 · Updated 2026-08-09
Samyoung M-Tek is a metalworking company that takes orders to machine heavy metal parts such as plant equipment, marine-engine structural material, and structural material for various structures, to which the rubber-parts business of Dong-A Chemical, recently brought in as a subsidiary, has been added. It signed a run of supply contracts, ₩12.3 billion on January 2, 2026 (about 10.4% of recent revenue) and ₩12.1 billion on December 30, 2025 (about 10.2%). With the subsidiary consolidation and rising earnings, the money it earns this year is growing, giving a forward P/E of 6.37x, below the peer range of 18-59x, while ROE is 10.2%. What stands out now is that if the added earnings hold up steadily even excluding the subsidiary, the cheapness would be highlighted alongside a depressed share price down more than 65% from its 52-week high; but because much of the revenue surge is an outward-scale effect from the subsidiary consolidation, the appeal could fade if core earnings fail to follow, or if high debt combines with the one-off nature of the contracts.
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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 “Machinery & Electrical Equipment” (Shipbuilding, Machinery, Defense & Power Equipment), a type typically read first through P/E.
Machinery and electrical-equipment makers build and sell industrial gear, and orders and shipments feed fairly directly into profit. Because revenue translates cleanly into current-year net income, price-to-earnings (P/E) is the natural first lens.
Price against earnings alone becomes unstable when earnings swing. Reading it together with price against assets helps gauge the downside.
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 far exceeds equity (debt ratio 357.9%).
- Revenue rose 0.4% year over year, and the pace is slowing (3-year trend: rising).
- Most recent quarter (Q1 2026) revenue was 397.0% higher than a year earlier.
- ROE is 10.8% (controlling-interest basis). It is above the sector average.
- Operating margin is 5.8%.
- A sector-metric and in-depth research verdict — see “Valuation vs peers” below for the basis.
Ownership & governance As of 2025-12-31
Largest shareholder Jeon Chang-ok 10% (individual)
Controlling bloc incl. related parties 12.3%
With the controlling bloc holding 12%, ownership is dispersed, leaving room for control-related or activist dynamics.
🔎 In-depth analysis Reading
Samyoung M-Tek belongs to the metalworking business group. Its periodic filings show that the company and its consolidated subsidiaries make and sell plant equipment (for large facilities such as power generation and oil refining), marine-engine structural material, structural material for various structures, and rubber parts used in automobiles and home appliances. Its core business is taking orders to machine the heavy metal parts that go into large facilities and ships, to which the rubber-parts business of Dong-A Chemical, recently brought in as a subsidiary, has been added. With a market capitalization of ₩90.4 billion, it is not a large company, so a single supply contract or a change such as a subsidiary consolidation flows straight through into revenue and earnings on a large scale.
The latest close is ₩6,710 and the market capitalization is ₩87.2 billion. The price sits above its 20-day moving average (₩6,326) and below its 60-day moving average (₩8,104). Short-term and medium-term trends are diverging, so the direction is best read separately. The RSI (a supplementary indicator that gauges the strength of gains versus losses over the past 14 days on a 0-100 scale) is 49.5, a neutral level. The one-month change is -0.6%, the three-month change is -48.3%, and the position relative to the 52-week high is -66.8%. Relative strength versus the KOSDAQ is 49 (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 49% of all stocks. Over the past three months it lagged the index by 22.2%. Chart interpretation is best done alongside trading volume and the dates on which disclosures occur.
For the most recent full year (2025), revenue was ₩118.5 billion, operating profit ₩10.2 billion, and net profit ₩8.1 billion. The operating margin of 8.6% and net margin of 6.9% are respectable for the metalworking sector, and ROE (how much is earned in a year by putting capital to work) of 10.2% is above the peer average. The debt ratio of 585.5% looks high on the number alone, but the current ratio of 1.15 means near-term assets exceed near-term debt, so it is hard to read as an immediate funding strain. The P/E of 11.1x and P/B of 1.13x shown on screen are based on last year's confirmed results. This year, however, the money earned itself grows with the subsidiary consolidation and rising earnings, so on this year's larger earnings the forward P/E falls to 6.09x. Given that the same peer set trades at P/E ratios in the 18-59x range, there is no need to see a company in an earnings-expansion phase as expensive on last year's numbers alone.
Revenue grew from ₩69.8 billion in 2021 to ₩118.5 billion in 2025, and operating profit swelled over the same period from ₩0.8 billion to ₩10.2 billion. This is not a single flash year but a build-up of earnings power over several years. The biggest change is this year. Cumulative first-quarter 2026 revenue was ₩130.9 billion, up 397.0% year on year, with operating profit of ₩5.6 billion (+95.6%) and net profit of ₩4.2 billion (+58.7%). The core reason revenue jumped this much is that the rubber-parts subsidiary (Dong-A Chemical) began to be reflected in consolidated results in earnest from the first quarter this year, on top of the ₩12.1 billion and ₩12.3 billion supply contracts signed between late last year and early this year. On the basis of this step-up in quarterly results, the outlook this year is for revenue of about ₩589.5 billion, operating profit of about ₩25.0 billion, and net profit of about ₩13.7 billion, and on those earnings the forward P/E is 6.37x. These figures come from the business genuinely growing larger, not simply from scaling up a single quarter. That said, because this is outward expansion from the subsidiary consolidation, it is more accurate to distinguish it from organic core-business growth when combining the effects.
On March 31, 2026 the company itself issued a planning document setting out its value-up direction through a corporate value-up plan (voluntary disclosure). If it contains figures it serves as a primary basis for the outlook; if only direction, it is a reference. Earlier, on January 2, 2026 it signed a single sales/supply contract worth ₩12.3 billion (about 10.4% of recent revenue), and on December 30, 2025 one worth ₩12.1 billion (about 10.2%). Both are sizeable at around 10% of recent revenue, so when these contracts are recognized as revenue and whether they are one-off or recurring transactions form the fork in interpreting medium-term results.
The strong side is clear. With the subsidiary consolidation and rising earnings, the money earned this year has grown, and on those added earnings the forward P/E is 6.37x, below the peer range of 18-59x, so the price is cheap relative to earnings. ROE of 10.2% also puts profitability above the peer average. Moreover, the share price has fallen more than 65% from its 52-week high into depressed territory, so results and price have diverged. The cautions are stated honestly. Much of the revenue surge is an outward-scale effect from the subsidiary consolidation, so the organic growth rate of the core business needs to be separated from the combined effect, and given the high debt ratio, additional fundraising or the one-off nature of the contracts could change the perceived risk. In sum, this is a stock whose cheapness is highlighted if the added earnings hold up steadily even excluding the subsidiary, and whose appeal fades if only the outward scale grows while core earnings fail to follow.
🔎 Valuation vs peers Fairly valued
Compared against a peer set of metalworking companies with adjacent market capitalizations.
| Peer | P/E | P/B | ROE |
|---|---|---|---|
| Sea Mechanics | 76.35x | 1.42x | 1.92% |
| SY Steeltech | — | 0.75x | -2.19% |
| RF Systems | 19.73x | 1.90x | 11.40% |
The primary reference was a public-data peer set of metalworking companies with nearby market capitalizations. The current P/E ratio (how many times one year's earnings the share price is) is 10.71x and the P/B (how many times book value the share price is) is 0.97x. That said, smaller-cap names are heavily affected by earnings swings and fundraising disclosures, so no firm conclusion was drawn from metrics based on last year's confirmed results alone. The outlook box is based on a DART seasonality approximation.
Earnings outlook Estimate company-stated · verified
| Type | Period | Revenue | Operating profit | Net profit |
|---|---|---|---|---|
| This year | 2026 | ₩589.5 billion | ₩25.0 billion | ₩13.7 billion |
| Next quarter | Q2 2026 | ₩154.1 billion | ₩5.1 billion | ₩2.2 billion |
Price history Close · MA20 · MA60
The latest close is ₩6,710 and the market capitalization is ₩87.2 billion. The price sits above its 20-day moving average (₩6,326) and below its 60-day moving average (₩8,104). Short-term and medium-term trends are diverging, so the direction is best read separately. The RSI (a supplementary indicator that gauges the strength of gains versus losses over the past 14 days on a 0-100 scale) is 49.5, a neutral level. The one-month change is -0.6%, the three-month change is -48.3%, and the position relative to the 52-week high is -66.8%. Relative strength versus the KOSDAQ is 49 (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 49% of all stocks. Over the past three months it lagged the index by 22.2%. 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 -22.19% / 6M -33.57% / 12M +18.01%
Key metrics Computed vs sector median
Valuation
The P/E of 10.71x is below the sector median (14.98x). The P/B of 0.97x is above the sector median (0.78x). 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 10.1%, initial growth 10.0%→terminal 2.0%, 10-yr forecast, free-cash-flow basis, forward earnings power normalized 1.681x. A reference range that shifts materially with assumptions.
Profitability & financials
Return on equity (ROE) is 10.8%, above the sector average (1.0%). The operating margin is 5.8%. The debt ratio is 357.9%, so the financial structure is somewhat high.
Growth FY2025 · annual report (consolidated)
| Item | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|
| Revenue | $67.3M | $82.9M | $83.2M | +0.37% ↓ slower |
| Operating profit | $4.2M | $7.2M | $7.2M | -0.76% ↓ slower |
| Net profit | $4.2M | $4.2M | $5.7M | +36.22% ↑ faster |
| 5-year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $49.0M | $63.7M | $67.3M | $82.9M | $83.2M |
| Operating profit | $577,064 | -$2.2M | $4.2M | $7.2M | $7.2M |
| Net profit | -$4.8M | -$5.8M | $4.2M | $4.2M | $5.7M |
| Revenue CAGR | 4-yr avg 14.13% | ||||
Revenue rose 0.4% year over year (2023 ₩95.7 billion → 2024 ₩118.0 billion → 2025 ₩118.5 billion), and the three-year trend is 'rising'. That said, the pace of growth slowed from the prior year. Operating profit fell 0.8% year over year. The decline widened. Over the 5 years on record, revenue compound annual growth (CAGR) is 14.1%. The two-year revenue CAGR is 11.2%. In the most recent quarter (Q1 2026), revenue was 397.0% higher than the same period a year earlier.
Latest quarterly results Source Q1 2026 · vs year-ago
Technical indicators Computed
What stands out
- P/E and P/B are both low versus peers, so the price looks inexpensive relative to earnings and assets.
- ROE of 10.8% points to solid profitability.
Points to watch
- Revenue rose 0.4% year over year, and the pace is slowing (3-year trend: rising).
Recent news & events searched · sourced
- 2026-03-31UpdateCorporate value-up plan (voluntary disclosure): company plan text confirmedThis is a planning document put forward by the company itself. If it contains figures it is treated as a primary basis for the outlook box; if not, it is treated only as a directional reference. Source
- 2026-01-02ContractSingle sales/supply contract signed: contract value ₩12.3 billion, 10.4% of recent revenueThe contract value and term are central to how revenue is recognized going forward. Whether it is a one-off or a repeatable transaction shapes the medium-term interpretation. Source
- 2025-12-30ContractSingle sales/supply contract signed: contract value ₩12.1 billion, 10.2% of recent revenueThe contract value and term are central to how revenue is recognized going forward. Whether it is a one-off or a repeatable transaction shapes the medium-term interpretation. Source
Figure cross-check computed ↔ external
| Metric | Computed | External | Status | Source |
|---|---|---|---|---|
| Closing price | ₩6,710 | ₩6,710 | Confirmed | link |
| Latest quarterly results | revenue ₩130.9 billion, operating profit ₩5.6 billion | revenue ₩130.9 billion, operating profit ₩5.6 billion | Confirmed | link |
| Annual results | revenue ₩118.5 billion, operating profit ₩10.2 billion | revenue ₩118.5 billion, operating profit ₩10.2 billion | Confirmed | link |
| Outlook/plan disclosure text | — | — | Confirmed | link |
| Contract disclosure text | single supply contract signed: contract value ₩12.3 billion · vs recent revenue 10.4% | single supply contract signed: contract value ₩12.3 billion · vs recent revenue 10.4% | Confirmed | link |
| Contract disclosure text | single supply contract signed: contract value ₩12.1 billion · vs recent revenue 10.2% | single supply contract signed: contract value ₩12.1 billion · vs recent revenue 10.2% | Confirmed | link |
| Outlook box basis | DART | DART | Confirmed | link |
Recent filings Source
- 2026-05-14PeriodicQuarterly report
- 2026-05-04Amended filing
- 2026-05-04OwnershipOwnership-change filing
- 2026-04-30Disclosure
- 2026-04-30OwnershipLargest-shareholder ownership change report
- 2026-04-30OwnershipLargest-shareholder ownership change report
- 2026-04-29Disclosure
- 2026-04-10PeriodicAnnual business report (amended)
- 2026-03-31Disclosure
- 2026-03-31Disclosure
- 2026-03-31Shareholders' meeting notice
- 2026-03-23OwnershipOwnership-change 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.