002840 - Miwon Commercial Co., Ltd.

002840 Summary

Chemicals

Stock Price & Overview

₩130,000 -1,400 (-1.07%) Close · Sep 4, 2026 KST

KOSPI | ₩KRW | Close: ₩130,000 ≈ US$93 · Market cap ₩0.6tn (≈ $418m)

002840 Financial Statements

Breakdown ₩ bn	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015
Total Revenue	441.1	435.8	421.4	438.2	359.8	295.0	250.0	328.6	318.7	301.7	239.4
Cost of Revenue	355.5	335.7	320.0	330.0	275.1	226.9	195.1	275.7	280.0	251.0	200.1
Gross Profit	85.6	100.1	101.4	108.1	84.7	68.1	54.8	52.9	38.7	50.8	39.3
Selling, General & Administrative	42.0	40.2	34.2	31.1	27.5	25.2	22.6	25.8	27.7	28.0	20.9
Operating Income	43.6	59.9	67.2	77.0	57.2	42.9	32.3	27.2	11.0	22.8	18.5
Finance Income	6.9	8.0	8.0	7.0	3.3	2.7	2.0	2.2	17.8	6.2	3.4
Finance Costs	6.0	2.9	6.4	5.9	1.4	3.3	1.6	1.9	2.9	4.2	3.2
Pretax Income	51.5	60.5	76.1	87.8	71.3	62.5	41.4	26.0	31.1	32.3	21.3
Income Tax Expense	8.0	9.9	15.1	15.6	13.5	10.7	10.3	1.8	4.5	5.9	4.4
Net Income	43.5	50.5	61.0	72.2	57.7	51.8	31.1	24.2	29.9	26.4	17.0
Total Comprehensive Income	44.2	48.7	59.5	73.1	61.2	52.9	30.8	21.5	20.7	33.4	19.2
Interest Income	—	—	—	0.2	0.2	0.2	0.2	0.3	0.2	0.2	0.2
Interest Expense	—	—	—	0.1	0.0	0.1	0.0	0.5	0.5	0.7	1.0

Breakdown ₩ bn	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015
Total Assets	492.9	478.7	447.6	415.6	372.4	329.0	280.7	245.5	290.1	329.6	231.2
Current Assets	223.8	222.2	196.7	197.2	171.6	137.7	120.2	111.7	116.0	144.3	96.1
Cash & Cash Equivalents	26.5	35.3	37.4	25.3	21.7	22.2	9.2	23.1	4.8	20.1	9.3
Inventories	123.9	111.0	95.9	102.7	85.5	62.3	61.2	47.3	50.1	55.1	45.1
Trade Receivables	61.6	63.0	58.1	64.7	60.4	50.5	44.8	35.2	55.4	60.1	38.3
Non-current Assets	269.1	256.5	250.8	218.4	200.9	191.3	160.5	133.8	174.1	185.2	135.1
Property, Plant & Equipment	197.4	187.3	186.3	156.8	142.2	137.2	110.0	77.9	118.4	134.3	87.9
Intangible Assets	2.4	2.3	2.2	2.0	2.2	1.7	1.8	1.4	2.1	2.3	2.0
Total Liabilities	76.5	78.2	69.6	73.8	76.4	61.4	56.1	47.9	82.9	90.4	67.6
Current Liabilities	45.4	47.8	39.5	48.1	46.6	35.6	35.5	34.2	59.6	66.5	47.8
Non-current Liabilities	31.1	30.4	30.1	25.7	29.8	25.8	20.6	13.7	23.3	23.9	19.9
Total Equity	416.4	400.5	378.0	341.8	296.0	267.6	224.6	197.7	207.2	239.2	163.6
Share Capital	6.7	6.7	6.7	6.7	6.7	6.7	6.7	8.0	8.0	7.9	7.9
Retained Earnings	438.5	402.5	363.9	328.8	283.8	252.7	182.8	156.5	125.9	119.3	102.7

Breakdown ₩ bn	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015
Cash from Operating Activities	68.6	79.5	97.6	70.8	55.1	55.1	19.7	37.4	30.6	30.5	36.4
Cash from Investing Activities	-48.7	-54.6	-62.0	-39.6	-22.6	-32.3	-31.8	-15.8	-23.3	-13.3	-11.7
Purchase of Property, Plant & Equipment	49.1	49.6	59.9	41.4	29.4	42.7	42.1	31.0	25.4	20.1	11.5
Cash from Financing Activities	-28.4	-27.8	-23.5	-27.1	-33.0	-9.8	-1.7	-1.1	-22.1	-6.4	-21.6
Dividends Paid	9.2	9.4	7.2	7.4	28.5	3.3	4.6	0.0	0.0	—	—
Net Change in Cash	-8.6	-2.8	12.1	4.0	-0.6	13.1	-13.8	20.4	-14.8	10.8	3.2

Breakdown ₩ bn	2026 Q2	2026 Q1	2025 Q4	2025 Q3	2025 Q2	2025 Q1	2024 Q4	2024 Q3	2024 Q2	2024 Q1
Total Revenue	130.1	117.3	108.6	113.1	111.2	108.2	114.6	106.2	111.1	103.9
Cost of Revenue	98.9	96.5	86.9	92.4	91.2	85.0	91.4	82.6	82.9	78.8
Gross Profit	31.2	20.8	21.7	20.7	20.0	23.2	23.3	23.6	28.2	25.1
Selling, General & Administrative	10.9	11.0	12.6	10.0	9.7	9.7	13.6	9.2	8.1	9.2
Operating Income	20.3	9.8	9.0	10.8	10.3	13.5	9.6	14.3	20.0	16.0
Finance Income	1.5	3.5	2.2	1.2	0.7	2.8	3.9	0.8	1.4	1.9
Finance Costs	0.8	1.2	1.1	-0.1	3.2	1.9	0.3	1.7	0.4	0.5
Pretax Income	24.2	13.8	12.7	13.3	9.4	16.0	14.4	14.1	22.1	9.9
Income Tax Expense	5.5	2.8	-0.0	3.0	2.1	3.0	0.9	3.3	4.3	1.3
Net Income	18.7	11.0	12.8	10.4	7.3	13.1	13.5	10.8	17.8	8.5
Total Comprehensive Income	15.1	11.6	14.2	9.6	8.1	12.3	11.0	9.8	20.2	7.6
Interest Income	—	—	—	0.2	0.2	0.2	0.2	0.2	0.2	—
Interest Expense	—	—	—	0.0	0.0	0.0	—	—	—	—

Breakdown ₩ bn	2026 Q2	2026 Q1	2025 Q4	2025 Q3	2025 Q2	2025 Q1	2024 Q4	2024 Q3	2024 Q2	2024 Q1
Total Assets	516.0	504.9	492.9	481.2	482.2	484.3	478.7	462.4	461.3	454.7
Current Assets	244.4	234.3	223.8	221.1	223.2	230.0	222.2	209.4	209.1	212.3
Cash & Cash Equivalents	10.2	24.4	26.5	18.4	25.7	33.7	35.3	29.1	26.7	37.4
Inventories	138.7	120.9	123.9	120.0	121.2	116.7	111.0	104.6	101.2	104.0
Trade Receivables	81.7	74.8	61.6	70.6	63.6	66.0	63.1	62.7	69.8	64.2
Non-current Assets	271.7	270.5	269.1	260.1	259.0	254.3	256.5	253.1	252.3	242.4
Property, Plant & Equipment	200.9	198.5	197.4	188.3	187.7	185.1	187.4	182.7	195.9	188.7
Intangible Assets	2.4	2.4	2.4	2.4	2.4	2.5	2.3	2.3	2.3	2.3
Total Liabilities	87.6	87.2	76.5	71.1	74.6	79.6	78.2	72.7	70.1	78.7
Current Liabilities	53.9	54.8	45.4	39.0	43.4	48.8	47.8	43.8	41.2	50.8
Non-current Liabilities	33.6	32.4	31.1	32.1	31.1	30.8	30.4	28.8	28.9	27.9
Total Equity	428.5	417.7	416.4	410.1	407.6	404.7	400.5	389.8	391.3	376.0
Share Capital	6.7	6.7	6.7	6.7	6.7	6.7	6.7	6.7	6.7	6.7
Retained Earnings	461.8	443.1	438.5	426.3	418.2	410.9	402.5	393.1	384.7	367.1

Breakdown ₩ bn	2026 Q2	2026 Q1	2025 Q4	2025 Q3	2025 Q2	2025 Q1	2024 Q4	2024 Q3	2024 Q2	2024 Q1
Cash from Operating Activities	10.3	15.1	30.9	11.0	16.0	10.8	20.1	26.8	12.9	19.8
Cash from Investing Activities	-14.7	-13.7	-14.6	-11.4	-13.7	-9.2	-12.8	-13.2	-17.7	-10.9
Purchase of Property, Plant & Equipment	13.9	13.1	16.5	11.4	13.2	8.0	13.4	12.2	13.2	10.9
Cash from Financing Activities	-9.5	-4.0	-7.9	-7.1	-10.0	-3.5	-1.7	-11.2	-5.9	-9.0
Dividends Paid	—	—	2.3	2.3	4.7	0.0	2.3	2.3	0.0	4.7
Net Change in Cash	-13.9	-2.6	8.4	-7.4	-7.6	-1.9	5.6	2.5	-10.7	-0.1

Consolidated (CFS), from DART. 11 fiscal years and 10 quarters. Accounts matched on IFRS account_id, not Korean labels, so the same line holds across years where the Korean wording changed. Quarterly figures are three-month values: income quarters from DART's three-month column, cash-flow quarters differenced from DART's cumulative figures, and Q4 as annual minus nine-month cumulative.

002840 Growth

FY2025 ₩bn	Latest	1-yr	3-yr CAGR	5-yr CAGR	10-yr CAGR
Revenue	441.1	+1.2%	+0.2%	+8.4%	+6.3%
Operating income	43.6	-27.3%	-17.3%	+0.3%	+9.0%
Net income	43.5	-13.9%	-15.5%	-3.4%	+9.9%
EPS	₩9,671	-13.9%	-15.5%	-3.4%	+9.9%
Operating cash flow	68.6	-13.8%	-1.0%	+4.5%	+6.5%
Shareholders' equity	416.4	+4.0%	+6.8%	+9.2%	+9.8%

Compound annual growth from the DART annual statements on this page. n/m where either end of the period is a loss or missing. EPS uses today's share count for every year.

002840 Profitability

Ratio	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
Gross margin	19.4%	23.0%	24.1%	24.7%	23.5%	23.1%
Operating margin	9.9%	13.8%	16.0%	17.6%	15.9%	14.5%
Net margin	9.9%	11.6%	14.5%	16.5%	16.0%	17.6%
Return on equity	10.7%	13.0%	17.0%	22.6%	20.5%	21.1%
Return on assets	9.0%	10.9%	14.1%	18.3%	16.5%	17.0%
Operating cash flow / revenue	15.5%	18.3%	23.2%	16.2%	15.3%	18.7%
Capex / revenue	11.1%	11.4%	14.2%	9.5%	8.2%	14.5%

Margins divide by revenue for the same year. Return on equity and assets divide net income by the average of that year's and the prior year's balance, as DART reports them (consolidated, including minority interests).

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What a US investor should know

Trading hours09:00–15:30 KST — 20:00–02:30 US Eastern the night before.
Daily limitKorean stocks can move at most ±30% in a session before trading halts.
Getting exposureKRX shares are not directly tradable in most US brokerage accounts. The usual routes are Korea ETFs or an international account.
ReportingKorean issuers file to DART, not the SEC. Half-year and quarterly reports land about 45 days after period end.