004840.Ks
The company is a leading manufacturer and distributor of tires and rubber products, generating revenue primarily through the sale of automotive tires to both original equipment manufacturers and replacement markets.
Business. The company is a leading manufacturer and distributor of tires and rubber products, generating revenue primarily through the sale of automotive tires to both original equipment manufacturers and replacement markets.
At a glance
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- Macro
- Rate decisionBank of England rate decision (press conf.)2026-08-06 · GB
- Rate decisionReserve Bank of Australia rate decision (press conf.)2026-08-12 · AU
- Rate decisionNorges Bank rate decision (press conf.)2026-08-20 · NO
- Rate decisionSveriges Riksbank rate decision (press conf.)2026-09-03 · SE
- Rate decisionBank of Canada rate decision (press conf.)2026-09-09 · CA
- Rate decisionEuropean Central Bank rate decision (press conf.)2026-09-10 · EU
- Macro & political
- ElectionSE Swedish Election2026-09-14 · SE
- ElectionUS U.S. Midterms2026-11-03 · US
- ElectionFR French Legislative2027-06-01 · FR
Pre-earnings brief
Signals & dispatch
Composite-score breakdown
Synthesis
The company is a leading manufacturer and distributor of tires and rubber products, generating revenue primarily through the sale of automotive tires to both original equipment manufacturers and replacement markets.
The company maintains a relatively balanced capital structure, with a debt-to-equity ratio of 0.77, indicating a moderate reliance on debt financing. However, its liquidity position is assessed as medium, with a current ratio of 1.24, suggesting that the company has just enough current assets to cover its short-term liabilities. Free cash flow is negative at -7.97 billion KRW, which may signal pressure on liquidity, particularly as capital expenditures are substantial at -47.16 billion KRW.
Profitability metrics show a return on equity of 1.11% and a return on assets of 0.46%, both of which are below the typical thresholds for strong performance in the Tires & Rubber Products industry. The operating margin, calculated as operating income of 24.64 billion KRW on revenue of 802.75 billion KRW, is 3.07%, which is relatively low compared to industry benchmarks.
The company's revenue is concentrated in a single business segment, with no disclosed geographic diversification. This lack of diversification may expose the company to regional economic fluctuations and supply chain disruptions. The absence of segmental or geographic breakdowns in the financial data limits the ability to assess the company's exposure to different markets.
Looking ahead, the company is expected to maintain a stable revenue trajectory, with no significant growth or decline projected in the current or next fiscal year. The capital expenditure of -47.16 billion KRW indicates ongoing investment in production capabilities, which may support long-term growth but could also strain short-term liquidity.
The risk assessment highlights a key flag: the company's net cash position is negative after subtracting total debt, which could pose a liquidity risk. The dilution risk is assessed as low, with no significant dilution potential identified in the basic shares outstanding. However, the company's reliance on debt financing and negative free cash flow may necessitate future capital raising, which could introduce dilution risk.
Recent filings and transcripts do not indicate any major strategic shifts or operational disruptions. The company appears to be maintaining its current business model and operational strategy, with no significant new initiatives or challenges disclosed in the latest financial reports.
- The company has a moderate debt-to-equity ratio of 0.77, indicating a balanced capital structure.
- Return on equity of 1.11% and return on assets of 0.46% suggest weak profitability relative to industry standards.
- Free cash flow is negative at -7.97 billion KRW, which may impact liquidity and operational flexibility.
- The company's revenue is concentrated in a single business segment, with no geographic diversification disclosed.
- The company is expected to maintain a stable revenue trajectory, with no significant growth or decline projected.
- The risk assessment highlights a negative net cash position after subtracting total debt, which could pose a liquidity risk.
Bull / Bear case
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consensus EPS · 26-week trendSell-side observations
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- Net cash is negative after subtracting total debt.
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- Dilution Ratio(shares_outstanding_diluted - shares_outstanding_basic) / shares_outstanding_basic
- Net Cashcash_and_equivalents + short_term_investments - short_term_debt - long_term_debt
- Capex To Revenuecapital_expenditure / revenue
- Return On Equitynet_income / total_equity
- Debt To Equity(short_term_debt + long_term_debt) / total_equity
- Cash Conversion Ratiooperating_cash_flow / net_income
- 004840.KS Market data — financials · 2026-05-26
Ownership & reference
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Geographic breakdown
Intel & risk
4 tracked-field change(s) detected vs prior analysis; max severity: medium.
- Dilution risk— → lowlow
- Liquidity risk— → mediumlow
- Activity— → Automobilesmedium
- Economic sector— → Consumer Cyclicalsmedium