Woolim PTS makes machine parts that transmit force and control speed; its mainstays are industrial reducers for steel-mill rolling and equipment and transmissions for construction machinery such as excavators and loaders, while it is building renewable-energy parts like the pitch and yaw reducers of wind turbines into a new growth axis, making it a cyclical parts stock. In April 2026 it voluntarily disclosed a corporate value-up plan; in March, an annual earnings-structure change filing signaled a swing into the black with revenue of ₩57.1 billion, operating profit of ₩1.2 billion and net profit of ₩2.4 billion; and in May, the first-quarter report confirmed a revenue decline and a swing back into an operating loss. The strengths to note are a track record of moving from a large 2024 loss to a 2025 profit, solid short-term footing with a debt ratio of 112% and a current ratio of 364%, and a price that has fallen to around net asset value (P/B 1.2x); the caution is that revenue fell -20.4% in 2025 and -24.6% in Q1 2026, and the first quarter swung back to an operating loss, so the durability of the recovery is not yet confirmed.
At-a-glance assessment financial health · growth · profitability · valuation
- Revenue fell 20.4% year over year (3-year trend: mixed).
- Net profit swung from a loss a year earlier back into the black (a turnaround).
- Most recent quarter (Q1 2026) revenue was 24.6% lower than a year earlier.
- ROE is 2.9% (controlling-interest basis). It is below the sector average.
- Operating margin is 2.1%.
- The P/E sits above the sector median, reflecting elevated expectations.
Ownership & governance As of 2025-12-31
Largest shareholder Han Hyun-seok 43.22% (individual)
Controlling bloc incl. related parties 55.33%
With the controlling bloc holding 55%, control is very secure but the free float is thin.
🔎 In-depth analysis
- Woolim PTS makes machine parts that 'transmit force and control speed' (headquartered in Changwon, South Gyeongsang; listed on the KOSDAQ in 2009).
- Per its periodic reports, its mainstays are the manufacture and sale of transmissions, reducers, wind-turbine parts and gears, split broadly into two lines.
- One is industrial reducers used in steel-mill rolling and equipment (gear devices that convert a motor's fast rotation into slow, powerful rotation); the other is transmissions used in construction machinery such as excavators and loaders (gearing that sends engine power to the wheels and work implements).
- On past disclosures, construction-machinery transmissions accounted for more than half of revenue, with steel-equipment industrial reducers next.
- On top of this, it is building renewable-energy parts such as the pitch reducers that adjust wind-turbine blade angle and the yaw reducers that turn the tower into a new growth axis.
- In short, it is a classic cyclical parts stock whose results rise and fall with the steel and construction-machinery cycles, with wind at a stage of widening its share.
- The latest close is ₩7,050 and the market cap is ₩95.2 billion.
- The price sits below its 20-day line (₩8,192) and below its 60-day line (₩11,704).
- Trading under both its short- and medium-term moving averages, the trend looks subdued.
- The RSI (an auxiliary gauge that compares upward and downward force over the past 14 days on a 0-100 scale) is 32.8, a neutral level.
- The one-month change is -22.8%, the three-month change is -42.4%, and the position versus the 52-week high is -68.7%.
- Relative strength versus the KOSDAQ is 84 (1-99, computed from the past year's return against the index with heavier weight on recent performance; higher means stronger than the market), placing it in roughly the top 16% of all stocks by strength.
- Over the past three months it lagged the index by 28.7%.
- When reading the chart, it helps to look at volume and disclosure dates together.
- The P/E ratio (how many times a year's net profit the share price is) is 39.76x, which looks high on the surface.
- But this figure comes from using 2025 net profit (about ₩2.4 billion), a 'thin early-recovery profit' that has just turned positive from a large loss, as the denominator.
- At such an earnings inflection, a trailing P/E based on last year's confirmed results tends to overstate how expensive the company really is, so the figure itself matters less than the picture once profit returns to normal levels.
- The P/B (how many times net assets the share price is) is 1.15x, roughly on par with the value of its assets and about mid-range among peers.
- In other words, on an asset basis it is not in an expensive spot.
- Profitability is still recovering, with an ROE (how much is earned in a year on equity) of 2.9% and an operating margin of 2.1%, both thin.
- The net margin (4.2%) exceeding the operating margin results from non-operating items such as interest, foreign exchange and equity-method gains, so the earnings strength of the core business alone is smaller than that.
- On the balance sheet, the debt ratio (debt versus equity) of 112% is not excessive, and the current ratio (assets that can be turned into cash against debt due within a year) of 364% means short-term funding is ample.
- Five-year revenue ran ₩60.5B, ₩68.3B, ₩57.3B, ₩71.8B and ₩57.1 billion (2021-2025), less an uptrend than a swing tracking the construction and steel cycles.
- 2025 fell -20.4% year over year, but earnings turned around, from a large 2024 loss of -₩1.6 billion operating and -₩7.8 billion net to +₩1.2 billion operating and +₩2.4 billion net in 2025.
- It is at the start of a recovery, having passed a deep loss-making bottom and only just flipped profit positive.
- That said, Q1 2026 posted revenue of ₩10.3 billion (down -24.6% year over year) with an operating loss of -₩370 million, back in an operating loss, while net profit held at ₩390 million thanks to non-operating items.
- So it has swung into the black, but weak downstream demand makes the pace of recovery uneven from quarter to quarter.
- Viewing the 'trailing P/E on last year's confirmed results (42x)' and the 'forward P/E on this year's expected profit (about 72x)' together, both being high reflects not that the company is expensive but that we are at the bottom of the cycle, so profit has yet to reach a normal track.
- Put another way, if the steel and construction-machinery downstream cycles revive and more wind parts load in, there is room for profit to rise sharply on the same revenue; conversely, if the downstream slowdown drags on, the profit recovery is pushed back.
- Recent disclosures mix company plans, results, shareholder returns and holdings changes.
- On April 2, 2026, the company voluntarily disclosed a corporate value-up plan, stating its direction for enhancing shareholder value directly (specific target figures are subject to checking the original text), and on March 13 it signaled a swing into the black in an annual earnings-structure change filing with revenue of ₩57.1 billion, operating profit of ₩1.2 billion and net profit of ₩2.4 billion.
- On February 9 it resolved a cash and in-kind dividend (about ₩50 per share, a yield of about 0.5%), continuing shareholder returns on a small scale.
- The Q1 quarterly report on May 15 confirmed a revenue decline and a swing back into an operating loss, showing the recovery is not proceeding smoothly in one go.
- From April to June, several change reports on holdings by 5%-or-more owners were filed, indicating frequent movement on the ownership and supply-demand side.
- Meanwhile, order-type disclosures such as single supply contracts that would directly lift business momentum were not prominent in this period.
- The strengths are clear.
- It has a power-transmission parts lineup spanning steel equipment, construction machinery and wind; it has a turnaround record moving from a large 2024 loss to a 2025 profit; and the company itself has put forward a corporate value-up plan, showing intent on shareholder returns.
- Its finances are also firm short-term, with a debt ratio of 112% and a current ratio of 364%, and the share price has fallen -67% from its 52-week high to around net asset value (P/B 1.2x), cheap on an asset basis.
- In other words, it sits closer to the bottom of the cycle than the top.
- On the other hand, there are cautions.
- Revenue fell -20.4% in 2025 and -24.6% in Q1 2026, the first quarter swung back to an operating loss so the durability of last year's turnaround is not yet confirmed, and with net profit exceeding operating profit, the core business's earnings strength is weaker than the headline suggests.
- The P/E showing high is because profit has only just left the bottom, not because it is expensive in itself.
- In short, if the steel and construction-machinery downstream cycles revive and the wind share grows so the operating margin normalizes, profit can rise quickly on the same revenue, making it a strong stock; if the downstream slowdown drags on and operating losses recur, it is a weak one.
- For now it stands at that fork, with the price well down and the evidence of recovery still being confirmed.
🔎 Valuation vs peers Overvalued
A comparison against KOSDAQ names whose business overlaps in power-transmission and industrial-machinery parts: Daedong Gear (gears), DIC (transmissions/gears for construction and autos), DY Power (power parts for construction machinery) and Taewoong (forgings for wind and heavy machinery).
| Peer | P/E | P/B | ROE |
|---|---|---|---|
| Daedong Gear | 0.00x | 1.14x | -5.99% |
| DIC | 0.00x | 1.10x | -7.42% |
| DY Power | 4.81x | 0.39x | 8.04% |
| TAEWOONG | 96.82x | 0.86x | 0.89% |
Among a comparison set whose business directly overlaps in power-transmission parts, DY Power, whose core business is running normally, sits in undervalued territory at a P/E of 5.2x, P/B of 0.42x and ROE of 8%, whereas Woolim PTS is mid-range at a P/B of 1.52x with a lower ROE of 2.9%. Daedong Gear and DIC are loss-making so a P/E comparison is not possible, and Taewoong's profit is depressed, making its P/E abnormally high. Woolim's trailing P/E of 52.7x is a thin figure from 2025 net profit having only just turned positive from a loss, so it overstates how expensive the stock is and is hard to take at face value at an earnings inflection. Even on our own forward estimate that corrects for this, an operating loss recurred in Q1 2026 and revenue fell -24.6%, so the profit recovery is limited and a valuation strain remains. Factoring in a below-peer ROE and a thin operating margin (2.1%), we read the current price as an overvalued range that has pre-priced recovery and growth expectations. That said, if the downstream cycle revives and the operating margin normalizes the assessment could change quickly, so it is more appropriate to read it as a heavy strain until recovery is confirmed than to flatly call it 'expensive.'
Price history Close · MA20 · MA60
The latest close is ₩7,050 and the market capitalization is ₩95.2 billion. The price sits below its 20-day moving average (₩8,192) and below its 60-day moving average (₩11,704). 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 32.8, a neutral level. The one-month change is -22.8%, the three-month change is -42.4%, and the position relative to the 52-week high is -68.7%. Relative strength versus the KOSDAQ is 84 (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 84% of all stocks. Over the past three months it lagged the index by 28.7%. 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 -28.74% / 6M -40.22% / 12M +39.49%
Key metrics vs sector median
Valuation
The P/E of 39.76x is above the sector median (14.44x). The P/B of 1.15x is below the sector median (1.44x).
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.
Profitability & financials
Return on equity (ROE) is 2.9%, below the sector average (5.0%). The operating margin is 2.1%. The debt ratio is 112.3%, so the financial structure is moderate.
Growth FY2025 · annual report (consolidated)
| Item | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|
| Revenue | $38.0M | $47.6M | $37.9M | -20.42% ↓ slower |
| Operating profit | $1.6M | -$1.1M | $788,139 | — |
| Net profit | $3.3M | -$5.1M | $1.6M | — |
| 5-year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $40.1M | $45.3M | $38.0M | $47.6M | $37.9M |
| Operating profit | $1.3M | $3.6M | $1.6M | -$1.1M | $788,139 |
| Net profit | $2.3M | $3.4M | $3.3M | -$5.1M | $1.6M |
| Revenue CAGR | 4-yr avg -1.45% | ||||
Revenue fell 20.4% year over year (2023 ₩57.3 billion → 2024 ₩71.8 billion → 2025 ₩57.1 billion), and the three-year trend is 'mixed'. The rate of decline widened from the prior year. Over the 5 years on record, revenue compound annual growth (CAGR) is -1.5%. The two-year revenue CAGR is -0.2%. In the most recent quarter (Q1 2026), revenue was 24.6% lower than the same period a year earlier.
Latest quarterly results Q1 2026 · vs year-ago
Technical indicators
What stands out
- —
Points to watch
- Revenue fell 20.4% year over year (3-year trend: mixed).
- The price is high versus peers, so expectations already appear priced in.
Recent news & events searched · sourced
- 2026-04-02IRFiled a corporate value-up plan (voluntary disclosure). The company directly and formally stated its direction and plan for enhancing shareholder value.Short term: confirms intent on shareholder returns and margin improvement. Medium term: whether specific target figures are carried out could be a cue for a re-valuation, making the original text worth tracking. Source
- 2026-03-13EarningsRevenue and earnings-structure change filing. 2025 annual revenue ₩57.1 billion, operating profit ₩1.2 billion, net profit ₩2.4 billion, a swing into the black from a large prior-year loss.Short term: the confirmed swing into the black is positive. Medium term: revenue fell -20.4% year over year and net profit exceeds operating profit, so whether the core business's strength is recovering needs a separate check. Source
- 2026-05-15EarningsFiled the Q1 2026 quarterly report. Revenue ₩10.3 billion (down -24.6% year over year), operating profit -₩370 million (swing to a loss), net profit ₩390 million (down -37.9% year over year).Short term: the revenue decline and swing to an operating loss cast doubt on the durability of last year's turnaround. Medium term: whether the operating margin recovers is the key variable for justifying the valuation. Source
- 2026-02-09DividendResolved a cash and in-kind dividend. Approved a cash return of about ₩50 per share (a yield of about 0.5%).Short term: shareholder returns continue, if only in a small amount. Medium term: the key is whether earnings strength and cash flow support the returns stably. Source
Figure cross-check computed ↔ external
| Metric | Computed | External | Status | Source |
|---|---|---|---|---|
| Closing price | ₩7,050 | ₩7,050 | Confirmed | link |
| 2025 annual results (swing into the black) | revenue 571, operating profit 12, net profit 24 | revenue 571·operating profit 12·net profit 24 | Confirmed | link |
| Q1 2026 revenue / operating profit | revenue 103(YoY -24.6%), operating profit -3.7 | — | Unverified | link |
| Business/revenue mix (steel equipment / construction machinery / wind) | + | — | Confirmed | link |
Recent filings
- 2026-06-09OwnershipOwnership-change filing
- 2026-06-04OwnershipOwnership-change filing
- 2026-05-26OwnershipOwnership-change filing
- 2026-05-26Shareholders' meeting notice
- 2026-05-20OwnershipOwnership-change filing
- 2026-05-15PeriodicQuarterly report
- 2026-05-11OwnershipOwnership-change filing
- 2026-05-08Disclosure
- 2026-05-08Shareholders' meeting notice
- 2026-04-27OwnershipOwnership-change filing
- 2026-04-24Amended filing
- 2026-04-21OwnershipOfficers'/major-shareholders' holdings report
📖 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.