099320 - Satrec Initiative Co., Ltd.

099320 Summary

Defense

Stock Price & Overview

₩70,700 +3,300 (+4.90%) Close · Sep 4, 2026 KST

KOSDAQ | ₩KRW | Close: ₩70,700 ≈ US$51 · Market cap ₩0.8tn (≈ $553m)

099320 Financial Statements

Breakdown ₩ bn	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015
Total Revenue	206.9	171.3	125.4	91.4	73.4	89.2	70.2	46.1	42.8	34.2	30.5
Cost of Revenue	173.5	144.5	110.2	84.7	62.8	68.7	55.3	36.1	32.3	27.3	22.4
Gross Profit	33.4	26.8	15.2	6.7	10.6	20.5	15.0	10.1	10.5	6.9	8.1
Selling, General & Administrative	23.2	29.9	19.5	14.4	9.4	6.8	5.7	4.5	5.1	3.8	3.5
Operating Income	10.2	-3.1	-4.4	-7.7	1.3	13.7	9.2	5.6	5.4	3.2	4.6
Finance Income	2.6	8.3	12.5	10.1	1.3	2.5	1.3	0.0	0.0	0.0	0.1
Finance Costs	2.0	1.3	2.7	3.3	19.9	1.3	2.3	0.2	0.2	0.1	0.1
Pretax Income	12.4	3.1	6.1	0.7	-15.7	13.9	8.5	5.3	5.6	3.0	4.8
Income Tax Expense	-1.6	-3.1	-35.4	3.5	-3.1	2.1	1.1	0.3	0.2	-0.2	0.4
Net Income	14.1	6.2	41.5	-2.8	-12.6	11.9	7.4	5.1	5.4	3.2	4.4
Total Comprehensive Income	14.1	6.2	42.0	-2.8	-12.6	11.8	7.1	5.1	5.4	3.2	4.4

Breakdown ₩ bn	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015
Total Assets	411.0	447.0	313.8	258.8	230.1	107.5	96.3	77.7	70.6	69.2	59.2
Current Assets	225.4	289.1	166.3	193.8	184.5	66.7	50.9	28.8	21.4	24.8	24.8
Cash & Cash Equivalents	75.9	125.3	102.8	90.4	114.6	21.2	19.8	5.1	7.3	5.8	6.7
Inventories	41.6	27.9	18.3	12.1	9.1	6.9	3.6	1.0	2.2	3.6	2.1
Trade Receivables	5.3	1.5	4.8	15.8	2.4	3.1	3.8	6.4	3.9	1.8	1.0
Non-current Assets	185.6	157.9	147.5	65.0	45.6	40.8	45.5	48.8	49.2	44.4	34.3
Property, Plant & Equipment	121.2	97.0	86.7	42.3	24.7	22.7	20.3	18.0	17.8	17.4	16.7
Intangible Assets	12.1	11.7	12.3	8.9	6.7	11.6	19.4	26.5	27.0	23.9	15.6
Total Liabilities	174.0	223.0	95.6	137.6	112.1	33.7	31.8	19.2	15.8	18.8	11.0
Current Liabilities	170.8	209.8	82.0	63.2	27.1	28.2	26.6	16.8	10.9	11.3	5.0
Non-current Liabilities	3.2	13.2	13.6	74.4	85.0	5.5	5.3	2.4	4.9	7.5	6.0
Total Equity	237.0	224.0	218.3	121.2	118.1	73.8	64.5	58.5	54.8	50.4	48.1
Share Capital	5.5	5.5	5.5	4.5	4.5	3.6	3.6	1.8	1.8	1.8	1.8
Retained Earnings	105.0	91.7	85.5	42.3	45.9	59.8	49.5	43.1	39.5	34.7	32.2

Breakdown ₩ bn	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015
Cash from Operating Activities	-74.0	68.3	28.6	24.1	-3.7	13.5	32.4	0.2	11.1	9.2	-4.7
Cash from Investing Activities	19.0	-62.0	-11.9	-49.5	-20.4	-10.2	-17.7	-4.2	-9.0	-9.5	10.2
Purchase of Property, Plant & Equipment	23.0	14.9	46.2	19.6	4.2	4.1	3.5	1.4	1.3	1.0	0.1
Cash from Financing Activities	5.9	16.1	-4.2	1.0	117.6	-1.9	-0.0	1.8	-0.6	-0.6	-0.8
Dividends Paid	2.1	1.6	0.7	1.3	2.4	1.5	0.8	1.1	0.9	0.8	0.5
Net Change in Cash	-49.1	22.5	12.5	-24.3	93.4	1.4	14.7	-2.2	1.6	-1.0	4.7

Breakdown ₩ bn	2026 Q2	2026 Q1	2025 Q4	2025 Q3	2025 Q2	2025 Q1	2024 Q4	2024 Q3	2024 Q2	2024 Q1
Total Revenue	51.1	37.2	72.0	50.4	44.5	40.0	48.4	43.7	47.5	31.7
Cost of Revenue	43.1	32.4	62.3	41.5	36.7	33.0	39.5	36.4	42.4	26.2
Gross Profit	8.0	4.8	9.6	9.0	7.8	7.1	8.9	7.3	5.0	5.5
Selling, General & Administrative	6.6	6.8	5.7	6.5	5.7	5.3	7.7	6.5	6.6	9.1
Operating Income	1.4	-2.0	4.0	2.5	2.0	1.7	1.2	0.8	-1.5	-3.5
Finance Income	0.4	0.3	0.8	0.2	0.7	0.9	5.7	1.0	0.8	0.7
Finance Costs	1.8	0.5	0.5	0.5	0.5	0.5	0.3	0.4	0.3	0.3
Pretax Income	0.5	-2.0	4.1	2.5	3.9	1.9	5.8	1.3	-1.2	-2.7
Income Tax Expense	0.7	0.0	-3.5	0.6	0.6	0.7	0.7	0.7	-4.7	0.2
Net Income	-0.2	-2.0	7.6	1.9	3.3	1.3	5.1	0.6	3.5	-3.0
Total Comprehensive Income	-0.2	-2.0	7.6	1.9	3.3	1.3	5.1	0.6	3.5	-3.0

Breakdown ₩ bn	2026 Q2	2026 Q1	2025 Q4	2025 Q3	2025 Q2	2025 Q1	2024 Q4	2024 Q3	2024 Q2	2024 Q1
Total Assets	408.8	370.5	411.0	371.7	374.1	401.5	447.0	362.5	327.9	302.8
Current Assets	222.5	185.2	225.4	205.2	211.1	238.7	289.1	200.7	168.8	153.7
Cash & Cash Equivalents	78.6	33.7	75.9	35.8	28.5	52.9	125.3	74.2	71.9	61.6
Inventories	36.5	42.6	41.6	50.3	45.6	37.7	27.9	21.0	21.8	22.0
Trade Receivables	12.3	11.7	5.3	8.0	2.6	3.0	1.5	3.0	3.6	4.0
Non-current Assets	186.2	185.3	185.6	166.6	163.0	162.7	157.9	161.8	159.0	149.1
Property, Plant & Equipment	120.3	120.6	121.2	105.2	101.5	100.8	97.0	95.8	91.8	90.4
Intangible Assets	10.6	11.4	12.1	13.0	13.4	13.8	11.7	11.9	12.0	12.4
Total Liabilities	174.1	136.2	174.0	142.6	147.1	178.0	223.0	143.8	110.1	88.9
Current Liabilities	170.5	132.8	170.8	128.5	132.9	163.8	209.8	140.5	106.5	75.0
Non-current Liabilities	3.6	3.4	3.2	14.1	14.1	14.2	13.2	3.3	3.5	13.8
Total Equity	234.7	234.3	237.0	229.2	227.0	223.4	224.0	218.7	217.8	213.9
Share Capital	5.5	5.5	5.5	5.5	5.5	5.5	5.5	5.5	5.5	5.5
Retained Earnings	102.9	102.5	105.0	97.1	94.7	91.6	91.7	87.0	85.7	81.4

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	49.6	-35.1	37.6	0.9	-40.9	-71.6	58.2	14.8	23.1	-27.8
Cash from Investing Activities	-3.6	-7.3	-7.2	6.3	18.7	1.1	-18.8	-15.7	-14.1	-13.4
Purchase of Property, Plant & Equipment	3.1	7.4	12.4	4.5	3.2	2.8	2.8	5.0	2.6	4.4
Cash from Financing Activities	-1.1	-0.0	10.0	-0.0	-2.1	-2.0	11.6	3.2	1.3	0.0
Dividends Paid	—	—	0.0	0.0	—	—	0.0	0.0	—	—
Net Change in Cash	44.9	-42.4	40.3	7.4	-24.4	-72.4	51.1	2.3	10.3	-41.2

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.

099320 Growth

FY2025 ₩bn	Latest	1-yr	3-yr CAGR	5-yr CAGR	10-yr CAGR
Revenue	206.9	+20.8%	+31.3%	+18.3%	+21.1%
Operating income	10.2	—	—	-5.7%	+8.2%
Net income	14.1	+125.4%	—	+3.5%	+12.4%
EPS	₩1,286	+125.4%	—	+3.5%	+12.4%
Operating cash flow	-74.0	—	—	—	—
Shareholders' equity	237.0	+5.8%	+25.1%	+26.3%	+17.3%

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.

099320 Profitability

Ratio	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
Gross margin	16.1%	15.6%	12.1%	7.3%	14.5%	23.0%
Operating margin	4.9%	-1.8%	-3.5%	-8.5%	1.7%	15.3%
Net margin	6.8%	3.6%	33.1%	-3.1%	-17.2%	13.3%
Return on equity	6.1%	2.8%	24.4%	-2.3%	-13.2%	17.2%
Return on assets	3.3%	1.6%	14.5%	-1.1%	-7.5%	11.6%
Operating cash flow / revenue	-35.8%	39.9%	22.8%	26.4%	-5.1%	15.2%
Capex / revenue	11.1%	8.7%	36.9%	21.4%	5.7%	4.6%

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.