CS Wind Corp

CS Wind Corp maintains a capital structure characterized by significant leverage, with long-term debt of 1,232.5 billion KRW against total equity of 1,153.1 billion KRW, resulting in a debt-to-equity ratio of 1.07. The company holds 478.9 billion KRW in cash and equivalents, but this is insufficient to cover total liabilities of 2,063.5 billion KRW, leading to a negative net cash position. Liquidity is assessed as medium, supported by a current ratio of 1.46, which indicates adequate short-term asset coverage for current liabilities. The market capitalization stands at 1,701.7 billion KRW, with an enterprise value-to-revenue multiple of 0.9, suggesting the market values the firm below its top-line revenue generation.

Profitability metrics indicate operational challenges, with a return on equity of -1.49% and a return on assets of -0.53%. The company generated a gross profit of 468.2 billion KRW on revenue of 2,931.6 billion KRW, yielding a gross margin of approximately 16.0%. Operating income was 101.6 billion KRW, narrowing to a net income of 34.7 billion KRW. These returns are negative, indicating that the company is currently destroying shareholder value relative to its equity base, a concern highlighted by the negative ROE and ROA figures.

Segment and geographic revenue breakdowns are not provided in the available data, preventing an analysis of revenue concentration or specific business unit performance. The company's total revenue of 2,931.6 billion KRW represents its primary scale metric, but without segment details, the diversity of income sources remains unverified.

Growth trajectory analysis is limited due to the absence of historical period data in the input. The current financial snapshot provides a single-period view, with operating cash flow of 542.0 billion KRW and free cash flow of 72.6 billion KRW. Capital expenditure was 93.2 billion KRW, indicating ongoing investment in assets despite the tight free cash flow generation.

Risk assessment identifies medium liquidity risk and low dilution risk. A key flag notes that net cash is negative after subtracting total debt, highlighting the company's reliance on external financing or asset liquidation to meet long-term obligations. The debt-to-equity ratio of 1.07 further underscores the financial leverage inherent in the business model.

Recent investor relations observations show strong analyst sentiment, with a mean recommendation of 1.78 (where 1 is strong buy) and a mean price target of 73,571.43 KRW. The median price target is 79,000.00 KRW, with a high of 81,000.00 KRW and a low of 50,000.00 KRW. There are 3 strong-buy ratings and 5 buy ratings, compared to only 1 hold rating, suggesting significant upside potential perceived by the market despite the current negative returns.

Analysts project 70.5% upside to a mean price target of 73,571 KRW, signaling strong market confidence.

Revenue grew at a 25.2% CAGR over four years, demonstrating significant top-line expansion capability.

Free cash flow turned positive in FY2025, reaching 85.2 billion KRW, improving liquidity generation.

Gross profit expanded to 468.2 billion KRW in FY2026, indicating robust underlying production margins.

Capex intensity is above the cohort median, suggesting strategic investment in future growth drivers.

Long-term debt surged to 1.44 trillion KRW in FY2025, creating substantial leverage and credit risk.

The company faces high credit risk and medium liquidity risk, threatening financial stability.

Net margin of -0.6% ranks in the bottom quartile, indicating poor profitability relative to peers.

Revenue KRW 711.13B, −21,1% YoY; Operating income −40,7% YoY.

• ▍Revenue KRW 711.13B, −21,1% YoY
• ▍Operating income −40,7% YoY
• ▍Net income −54,6% YoY
• ▍Free cash flow −36,6% YoY
• ▍Net margin 6.1%

Revenue KRW 782.74B, +16,4% YoY; Operating income −671,4% YoY.

• ▍Revenue KRW 782.74B, +16,4% YoY
• ▍Operating income −671,4% YoY
• ▍Net income −8 608,4% YoY
• ▍Free cash flow −540,4% YoY
• ▍Net margin -19.7%

Revenue KRW 597.02B, −25,9% YoY; Operating income −41,1% YoY.

• ▍Revenue KRW 597.02B, −25,9% YoY
• ▍Operating income −41,1% YoY
• ▍Net income −23,5% YoY
• ▍Free cash flow +27,7% YoY
• ▍Net margin 9.4%

Revenue KRW 650.00B, −24,2% YoY; Operating income −51,0% YoY.

• ▍Revenue KRW 650.00B, −24,2% YoY
• ▍Operating income −51,0% YoY
• ▍Net income −62,5% YoY
• ▍Free cash flow −1,8% YoY
• ▍Net margin 5.9%

Revenue KRW 901.89B; Operating income KRW 125.21B.

• ▍Revenue KRW 901.89B
• ▍Operating income KRW 125.21B
• ▍Net margin 10.5%

Revenue KRW 672.53B; Operating income KRW 26.32B.

• ▍Revenue KRW 672.53B
• ▍Operating income KRW 26.32B
• ▍Net margin 0.3%

Revenue KRW 805.47B; Operating income KRW 111.49B.

• ▍Revenue KRW 805.47B
• ▍Operating income KRW 111.49B
• ▍Net margin 9.1%

Revenue KRW 857.83B; Operating income KRW 124.68B.

• ▍Revenue KRW 857.83B
• ▍Operating income KRW 124.68B
• ▍Net margin 11.9%

Revenue KRW 2.93T, −4,6% YoY; Operating income −61,3% YoY.

• ▍Revenue KRW 2.93T, −4,6% YoY
• ▍Operating income −61,3% YoY
• ▍Net income −75,6% YoY
• ▍Free cash flow −14,8% YoY
• ▍Net margin 1.2%

Revenue KRW 3.07T, +102,1% YoY; Operating income +159,5% YoY.

• ▍Revenue KRW 3.07T, +102,1% YoY
• ▍Operating income +159,5% YoY
• ▍Net income +634,2% YoY
• ▍Free cash flow +171,2% YoY
• ▍Net margin 4.6%

Revenue KRW 1.52T, +10,6% YoY; Operating income +221,9% YoY.

• ▍Revenue KRW 1.52T, +10,6% YoY
• ▍Operating income +221,9% YoY
• ▍Net income +916,1% YoY
• ▍Free cash flow −79,5% YoY
• ▍Net margin 1.3%

Revenue KRW 1.37T, +15,1% YoY; Operating income −69,9% YoY.

• ▍Revenue KRW 1.37T, +15,1% YoY
• ▍Operating income −69,9% YoY
• ▍Net income −97,1% YoY
• ▍Free cash flow −753,2% YoY
• ▍Net margin 0.1%