Top Engineering Co Ltd

Top Engineering Co Ltd maintains a capital structure with a debt-to-equity ratio of 0.44, indicating a relatively balanced approach to financing. The company holds 54,766,882,610 KRW in cash and equivalents, but its long-term debt of 84,633,635,010 KRW results in a net cash position of -29,866,752,400 KRW, raising liquidity concerns. Free cash flow of 3,078,749,670 KRW suggests some operational flexibility, though operating cash flow is negative at -4,791,456,120 KRW.

Profitability metrics are weak, with a return on equity of -2.07% and a return on assets of -0.74%, both significantly below the industry median for semiconductor equipment firms. Gross profit of 10,691,581,470 KRW on revenue of 204,136,127,190 KRW yields a gross margin of 5.24%, which is below the industry average of 6.5%. The company's operating loss of 8,216,571,020 KRW highlights structural inefficiencies or pricing pressures.

The company's revenue is concentrated in a single business segment, with no disclosed geographic diversification. This lack of diversification increases exposure to regional demand shifts and supply chain disruptions. No competitor shares or market share data is available for comparison.

Growth prospects are muted, with no disclosed revenue growth in the current fiscal year. The company's capital expenditure of -2,470,221,170 KRW suggests a reduction in investment, potentially signaling a strategic shift or financial constraint. Analysts reported a last actual revenue of 917,583,140,000 KRW, which is below the company's reported revenue of 204,136,127,190 KRW, indicating a possible data discrepancy or reporting period mismatch.

The company faces medium liquidity risk due to its negative net cash position and weak operating cash flow. Dilution risk is assessed as low, with no recent share issuance or dilutive events reported. Adjustments to valuation metrics have not been applied, as no material changes in capital structure or accounting policies were identified.

Recent filings and transcripts are not available in the provided data. The company's financial performance and strategic direction remain opaque without additional disclosures.

Cash conversion of 1.21 exceeds the semiconductor equipment cohort median of 0.96, indicating superior operational efficiency.

Debt-to-equity ratio of 0.44 is below the cohort median of 0.23, suggesting a relatively conservative leverage position.

Capex to revenue ratio of -1.2% ranks in the top quartile, implying minimal capital expenditure requirements.

Dilution risk is assessed as low, providing some protection against equity value erosion from share issuance.

Revenue CAGR of 0.5% over four years indicates stable top-line performance despite recent volatility.

Operating margin of -4.0% places the company in the bottom quartile of the semiconductor equipment cohort.

Credit risk is flagged as high, indicating significant potential for financial distress or default issues.

Revenue KRW 213.13B, +7,1% YoY; Operating income −313,0% YoY.

• ▍Revenue KRW 213.13B, +7,1% YoY
• ▍Operating income −313,0% YoY
• ▍Net income −203,8% YoY
• ▍Free cash flow −204,3% YoY
• ▍Net margin -3.2%

Revenue KRW 203.55B, −0,3% YoY; Operating income −86,4% YoY.

• ▍Revenue KRW 203.55B, −0,3% YoY
• ▍Operating income −86,4% YoY
• ▍Net income −159,3% YoY
• ▍Free cash flow −432,9% YoY
• ▍Net margin -5.1%

Revenue KRW 798.50B, −2,1% YoY; Operating income −378,5% YoY.

• ▍Revenue KRW 798.50B, −2,1% YoY
• ▍Operating income −378,5% YoY
• ▍Net income −7 912,9% YoY
• ▍Free cash flow −464,7% YoY
• ▍Net margin -4.6%