DL Holdings Co Ltd

DL Holdings has a market price of 60,200 KRW and a market cap of 1.26 trillion KRW, with a price-to-book ratio of 0.32 and a price-to-tangible-book ratio of 0.32. The company's liquidity is characterized as medium, with a current ratio of 0.97 and a negative net cash position after subtracting total debt. The debt-to-equity ratio is 1.52, indicating a relatively high level of leverage.

In terms of profitability, DL Holdings reported a net income of 24.56 million KRW, with a return on equity of 0.0% and a return on assets of 0.0%. The company's gross profit margin is 24.67%, and its operating margin is 9.57%, both of which are below the industry median for commodity chemicals. The company's operating cash flow is 92.5 billion KRW, but its free cash flow is only 1.03 billion KRW, suggesting limited cash generation after capital expenditures.

DL Holdings' revenue is concentrated in a single business segment, with no disclosed geographic diversification. The company's capital expenditures amounted to 176.3 billion KRW, indicating a significant investment in infrastructure and operations.

Looking ahead, DL Holdings is expected to see a modest increase in revenue, with a projected growth rate of 2.5% for the current fiscal year and 3.0% for the next fiscal year. The company's risk assessment indicates a medium liquidity risk and a low dilution risk, with no immediate pressure for equity issuance.

Recent events include the company's latest financial filing, which disclosed a net income of 24.56 million KRW and a negative net cash position. Analysts have provided a mean price target of 82,000 KRW, with a mean recommendation of 1.67, indicating a generally positive outlook.

DL Holdings Co Ltd (000210.KS) has been formally classified within the Chemicals activity and Basic Materials economic sector, marking a significant structural update to its corporate profile. This taxonomy classification provides a clearer framework for understanding the company's operational focus and industry positioning, which is essential for accurate peer comparison and sector-specific analysis. Alongside this sectoral definition, the company’s risk assessment has been updated to reflect specific financial characteristics. Dilution risk is now assessed as low, indicating a stable capital structure with minimal threat of share value erosion from new issuances. Conversely, liquidity risk is rated as medium, suggesting that while the company maintains operational stability, investors should monitor its short-term asset management and cash flow dynamics more closely than in a low-risk scenario. These updates occur within a context of active market scrutiny, as evidenced by coverage from 12 analysts. The presence of this analyst base implies that the newly defined sector classification and risk metrics will likely influence future earnings estimates and valuation models, providing a more grounded basis for investment decisions. The synthesis of these changes—sector classification, low dilution risk, and medium liquidity risk—offers a more nuanced view of DL Holdings. For investors, this means the company is now better contextualized within the Basic Materials sector, with a risk profile that balances capital stability against moderate liquidity considerations, all under the watch of a dedicated analyst community.

Analysts project 80% upside to a mean price target of 82,000 KRW, significantly above the current market price of 45,550 KRW.

Revenue grew at a 22.6% compound annual growth rate over the last four years, demonstrating strong historical top-line expansion.

Cash conversion ratio of 3,766.02 is best-in-class compared to the cohort median of 1.1, highlighting exceptional cash generation capability.

Free cash flow turned positive to 114 billion KRW in FY-1, showing improved liquidity generation after recent negative periods.

Debt-to-equity ratio of 1.52 is in the bottom quartile of the cohort, indicating significantly higher leverage risk than peers.

The company faces high credit risk and medium liquidity risk, posing substantial threats to financial stability and solvency.

Return on equity and return on assets are both zero, failing to generate returns for shareholders or asset base effectively.

Net margin of 0.0% falls into the bottom quartile of the Commodity Chemicals cohort, reflecting weak bottom-line performance.

Revenue KRW 1.28T, −7,5% YoY.

• ▍Revenue KRW 1.28T, −7,5% YoY

Revenue KRW 1.23T, −5,1% YoY; Operating income +40,8% YoY.

• ▍Revenue KRW 1.23T, −5,1% YoY
• ▍Operating income +40,8% YoY
• ▍Net income −110,8% YoY
• ▍Free cash flow +430,4% YoY
• ▍Net margin -0.5%

Revenue KRW 1.39T, −2,4% YoY; Operating income +43,3% YoY.

• ▍Revenue KRW 1.39T, −2,4% YoY
• ▍Operating income +43,3% YoY
• ▍Net income +24,4% YoY
• ▍Free cash flow +90,2% YoY
• ▍Net margin 1.1%

Revenue KRW 1.32T, −11,4% YoY; Operating income −107,7% YoY.

• ▍Revenue KRW 1.32T, −11,4% YoY
• ▍Operating income −107,7% YoY
• ▍Net income −297 951,2% YoY
• ▍Free cash flow −6 434,9% YoY
• ▍Net margin -5.5%

Revenue KRW 1.39T; Operating income KRW 105.35B.

• ▍Revenue KRW 1.39T
• ▍Operating income KRW 105.35B
• ▍Net margin -1.7%

Revenue KRW 1.30T; Operating income -KRW 25.84B.

• ▍Revenue KRW 1.30T
• ▍Operating income -KRW 25.84B
• ▍Net margin 4.2%

Revenue KRW 1.42T; Operating income KRW 76.88B.

• ▍Revenue KRW 1.42T
• ▍Operating income KRW 76.88B
• ▍Net margin 0.8%

Revenue KRW 1.49T; Operating income KRW 142.80B.

• ▍Revenue KRW 1.49T
• ▍Operating income KRW 142.80B
• ▍Net margin 0.0%

Revenue KRW 5.33T, −5,1% YoY; Operating income −48,0% YoY.

• ▍Revenue KRW 5.33T, −5,1% YoY
• ▍Operating income −48,0% YoY
• ▍Net income −198,5% YoY
• ▍Free cash flow +5,6% YoY
• ▍Net margin -1.7%

Revenue KRW 5.62T, +11,9% YoY; Operating income +146,7% YoY.

• ▍Revenue KRW 5.62T, +11,9% YoY
• ▍Operating income +146,7% YoY
• ▍Net income +167,0% YoY
• ▍Free cash flow +130,7% YoY
• ▍Net margin 1.6%

Revenue KRW 5.02T, −3,0% YoY; Operating income −45,7% YoY.

• ▍Revenue KRW 5.02T, −3,0% YoY
• ▍Operating income −45,7% YoY
• ▍Net income −291,4% YoY
• ▍Free cash flow −7 411,1% YoY
• ▍Net margin -2.7%

Revenue KRW 5.17T, +119,3% YoY; Operating income +37,4% YoY.

• ▍Revenue KRW 5.17T, +119,3% YoY
• ▍Operating income +37,4% YoY
• ▍Net income −90,3% YoY
• ▍Free cash flow −99,0% YoY
• ▍Net margin 1.3%