178920 - PI Advanced Materials Co., Ltd.

178920 Summary

Chemicals

Stock Price & Overview

₩19,030 +160 (+0.85%) Close · Sep 4, 2026 KST

KOSPI | ₩KRW | Close: ₩19,030 ≈ US$14 · Market cap ₩0.6tn (≈ $399m)

178920 Financial Statements

Breakdown ₩ bn	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015
Total Revenue	263.4	251.3	217.6	276.4	301.9	261.8	223.7	245.5	216.4	153.1	136.3
Cost of Revenue	191.2	188.4	194.0	196.9	197.8	177.1	166.4	165.3	145.6	106.6	94.4
Gross Profit	72.2	62.9	23.7	79.6	104.1	84.7	57.3	80.2	70.8	46.5	41.9
Selling, General & Administrative	29.2	29.0	29.2	27.4	28.2	24.7	23.7	19.6	17.8	14.2	13.0
Operating Income	43.0	33.8	-5.6	52.1	75.9	60.0	33.6	60.5	53.0	32.3	28.9
Finance Income	2.5	1.8	0.8	0.7	0.5	0.2	0.2	1.1	0.8	0.4	0.6
Finance Costs	5.5	6.6	3.5	0.7	0.9	1.6	2.3	1.5	1.1	0.6	0.4
Pretax Income	39.6	29.0	-8.3	54.0	83.3	52.7	21.2	43.9	42.4	27.6	21.3
Income Tax Expense	9.2	6.7	-4.9	8.3	19.3	11.0	3.4	8.9	9.6	6.6	4.3
Net Income	30.4	22.3	-3.4	45.7	64.0	41.7	17.7	35.0	32.8	21.0	17.0
Total Comprehensive Income	30.5	21.7	-5.3	47.6	63.9	40.9	16.9	34.0	32.9	21.2	16.9

Breakdown ₩ bn	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015
Total Assets	464.8	527.7	518.1	499.0	473.0	404.0	393.0	372.4	341.2	307.5	269.8
Current Assets	122.6	160.0	128.3	131.7	196.4	144.0	108.5	105.9	130.2	95.0	70.8
Cash & Cash Equivalents	50.7	82.8	56.4	16.4	90.5	75.8	28.5	11.2	71.1	43.6	23.6
Inventories	33.1	39.4	39.0	83.7	42.1	31.6	46.7	51.5	17.6	24.1	25.0
Trade Receivables	36.1	35.7	31.7	30.0	44.4	34.4	29.7	25.5	29.3	25.5	18.8
Non-current Assets	342.2	367.7	389.8	367.3	276.6	260.0	284.4	266.5	211.0	212.6	199.0
Property, Plant & Equipment	318.8	345.0	366.6	342.9	255.1	240.1	255.4	254.0	200.0	204.8	188.2
Intangible Assets	9.6	10.8	12.7	13.9	13.5	11.5	5.9	6.5	5.6	2.2	1.9
Total Liabilities	109.6	192.5	204.8	157.5	147.1	121.1	141.7	113.7	92.9	79.0	59.2
Current Liabilities	49.2	74.9	88.0	64.5	108.6	80.9	93.7	58.8	57.5	30.7	25.9
Non-current Liabilities	60.4	117.6	116.9	93.0	38.4	40.3	48.0	54.9	35.5	48.3	33.3
Total Equity	355.2	335.2	313.3	341.5	325.9	282.9	251.3	258.7	248.2	228.6	210.6
Share Capital	14.7	14.7	14.7	14.7	14.7	14.7	14.7	14.7	14.7	14.7	14.7
Retained Earnings	231.1	210.8	189.2	217.4	201.8	158.8	127.2	134.6	124.1	104.5	86.5

Breakdown ₩ bn	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015
Cash from Operating Activities	78.3	55.1	60.0	17.4	88.6	80.9	38.1	17.9	69.7	33.9	22.2
Cash from Investing Activities	-5.0	-13.4	-52.4	-97.8	-50.6	-12.4	-14.5	-69.4	-22.4	-27.3	-29.6
Purchase of Property, Plant & Equipment	3.9	13.2	52.2	107.8	32.7	8.9	—	—	—	—	—
Cash from Financing Activities	-105.3	-15.9	32.5	5.1	-24.0	-21.2	-6.5	-8.8	-19.6	13.4	7.4
Dividends Paid	10.3	—	22.9	32.0	20.9	9.3	24.4	23.5	13.2	3.2	0.0
Net Change in Cash	-32.1	26.4	40.0	-74.1	14.6	47.3	17.3	-59.9	27.6	20.0	-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 Revenue	77.5	64.1	58.4	68.4	72.5	64.1	55.1	70.7	73.7	51.8
Cost of Revenue	47.2	41.9	44.5	49.8	48.7	47.9	44.3	51.6	49.0	42.4
Gross Profit	30.3	22.2	13.9	18.6	23.8	16.2	10.8	19.0	24.7	9.4
Selling, General & Administrative	7.3	8.1	7.3	7.0	7.6	7.3	8.1	7.0	7.0	7.0
Operating Income	23.0	14.0	6.6	11.6	16.2	8.9	2.7	12.1	17.7	2.5
Finance Income	1.0	0.3	-1.1	0.3	2.7	0.5	0.5	0.5	0.3	0.4
Finance Costs	1.7	2.2	0.1	1.9	1.9	1.6	3.1	1.5	1.3	0.7
Pretax Income	22.9	13.8	6.2	10.8	15.0	7.9	2.4	8.9	17.0	1.8
Income Tax Expense	5.5	3.2	1.8	2.4	3.3	1.8	0.4	2.5	3.5	0.3
Net Income	17.5	10.6	4.4	8.4	11.7	6.1	2.0	6.4	13.5	1.5
Total Comprehensive Income	17.5	10.6	4.5	8.4	11.7	6.1	1.4	6.4	13.5	1.5

Breakdown ₩ bn	2026 Q2	2026 Q1	2025 Q4	2025 Q3	2025 Q2	2025 Q1	2024 Q4	2024 Q3	2024 Q2	2024 Q1
Total Assets	482.1	472.5	464.8	489.4	512.8	507.5	527.5	529.9	507.3	513.4
Current Assets	155.8	138.7	122.6	146.2	161.6	148.4	159.8	160.0	129.2	128.4
Cash & Cash Equivalents	64.6	54.3	50.7	59.0	73.9	61.4	82.8	74.4	44.3	55.2
Inventories	38.8	37.9	33.1	39.4	41.6	37.5	39.2	37.9	37.5	39.2
Trade Receivables	50.6	44.1	36.1	44.6	43.2	47.6	35.7	45.0	46.2	32.7
Non-current Assets	326.3	333.9	342.2	343.2	351.2	359.1	367.7	369.9	378.0	385.0
Property, Plant & Equipment	306.1	312.6	318.8	325.1	331.2	338.4	345.0	351.2	358.4	364.4
Intangible Assets	9.2	9.4	9.6	9.6	9.9	10.3	10.8	11.0	11.5	11.8
Total Liabilities	109.1	117.2	109.6	137.9	169.9	173.8	189.6	193.6	177.4	197.0
Current Liabilities	57.4	60.0	49.2	58.4	67.8	65.3	74.9	73.2	66.1	85.0
Non-current Liabilities	51.7	57.1	60.4	79.5	102.0	108.5	114.7	120.3	111.2	112.0
Total Equity	373.0	355.4	355.2	351.4	342.9	333.7	337.9	336.3	329.9	316.4
Share Capital	14.7	14.7	14.7	14.7	14.7	14.7	14.7	14.7	14.7	14.7
Retained Earnings	248.8	231.4	231.1	227.2	218.8	209.4	213.6	212.2	205.8	192.3

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	24.0	7.9	25.7	17.8	28.2	6.5	10.3	17.2	18.7	8.9
Cash from Investing Activities	-0.1	-1.0	-2.3	-0.7	-0.5	-1.5	-2.0	-0.8	-2.4	-8.1
Purchase of Property, Plant & Equipment	0.9	0.8	1.7	0.5	0.4	1.4	1.4	0.9	2.4	8.6
Cash from Financing Activities	-13.5	-3.5	-31.8	-32.1	-15.0	-26.3	-0.5	13.9	-27.1	-2.2
Dividends Paid	—	—	0.0	0.0	—	—	—	—	—	—
Net Change in Cash	10.4	3.6	-8.4	-14.9	12.6	-21.5	8.5	30.0	-10.8	-1.2

Separate / parent-only (OFS) — this company files no consolidated statements, 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.

178920 Growth

FY2025 ₩bn	Latest	1-yr	3-yr CAGR	5-yr CAGR	10-yr CAGR
Revenue	263.4	+4.8%	-1.6%	+0.1%	+6.8%
Operating income	43.0	+27.2%	-6.2%	-6.4%	+4.0%
Net income	30.4	+36.4%	-12.7%	-6.1%	+6.0%
EPS	₩1,035	+36.4%	-12.7%	-6.1%	+6.0%
Operating cash flow	78.3	+42.0%	+65.0%	-0.7%	+13.5%
Shareholders' equity	355.2	+6.0%	+1.3%	+4.7%	+5.4%

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.

178920 Profitability

Ratio	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
Gross margin	27.4%	25.0%	10.9%	28.8%	34.5%	32.3%
Operating margin	16.3%	13.5%	-2.6%	18.9%	25.1%	22.9%
Net margin	11.5%	8.9%	-1.6%	16.5%	21.2%	15.9%
Return on equity	8.8%	6.9%	-1.1%	13.7%	21.0%	15.6%
Return on assets	6.1%	4.3%	-0.7%	9.4%	14.6%	10.5%
Operating cash flow / revenue	29.7%	21.9%	27.6%	6.3%	29.3%	30.9%
Capex / revenue	1.5%	5.3%	24.0%	39.0%	10.8%	3.4%

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.