268280 - Miwon Specialty Chemical

268280 Summary

Chemicals

Stock Price & Overview

₩130,700 -1,700 (-1.28%) Close · Sep 4, 2026 KST

KOSPI | ₩KRW | Close: ₩130,700 ≈ US$93 · Market cap ₩0.7tn (≈ $467m)

268280 Financial Statements

Breakdown ₩ bn	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017
Total Revenue	532.1	509.3	437.7	611.6	531.3	372.0	377.9	360.4	208.3
Cost of Revenue	419.1	406.3	383.6	479.8	395.5	296.1	305.7	296.3	169.7
Gross Profit	113.0	103.0	54.1	131.9	135.9	75.9	72.2	64.1	38.6
Selling, General & Administrative	47.5	44.2	31.6	51.0	40.8	26.7	25.6	24.1	16.8
Operating Income	65.5	58.8	22.5	80.9	95.0	49.2	46.6	40.0	21.8
Finance Income	13.5	17.9	15.6	16.4	12.6	7.2	6.7	6.4	2.8
Finance Costs	9.5	6.1	12.0	13.3	3.0	11.3	5.1	4.2	4.7
Pretax Income	72.4	72.0	27.0	84.9	105.5	45.8	49.2	44.7	20.4
Income Tax Expense	11.1	17.4	8.4	20.1	25.6	11.1	9.7	8.7	3.2
Net Income	61.3	54.6	18.6	64.8	79.9	34.7	39.6	36.0	17.2
Total Comprehensive Income	62.2	50.9	16.5	66.4	81.4	33.8	39.1	35.2	17.5
Interest Income	3.4	3.9	2.0	0.6	0.3	0.4	0.6	0.3	0.1
Interest Expense	1.9	2.1	2.2	1.1	0.1	0.2	0.2	0.1	0.0

Breakdown ₩ bn	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017
Total Assets	549.2	512.1	461.2	475.7	438.1	327.1	311.9	276.7	220.2
Current Assets	351.4	339.3	285.1	297.8	292.5	217.4	204.3	173.3	139.4
Cash & Cash Equivalents	59.0	68.6	99.3	42.1	60.5	79.9	52.9	8.6	16.5
Inventories	103.1	116.4	97.6	127.2	120.6	63.7	71.6	71.0	52.5
Trade Receivables	103.8	93.0	77.7	116.5	96.9	65.5	68.2	76.6	59.9
Non-current Assets	197.9	172.8	176.0	177.9	145.6	109.7	107.5	103.4	80.8
Property, Plant & Equipment	173.0	155.4	159.4	162.7	129.0	98.3	94.4	88.8	76.2
Intangible Assets	1.4	1.4	1.4	1.5	1.7	1.9	2.2	2.4	2.2
Total Liabilities	100.7	105.8	88.1	96.9	111.6	66.0	62.5	56.3	34.9
Current Liabilities	72.3	82.5	71.0	82.9	97.0	44.0	40.4	35.1	28.0
Non-current Liabilities	28.5	23.3	17.1	14.0	14.6	22.0	22.1	21.2	7.0
Total Equity	448.5	406.3	373.1	378.9	326.5	261.1	249.3	220.3	185.3
Share Capital	2.6	2.6	2.6	2.6	2.6	2.6	2.6	2.6	2.6
Retained Earnings	300.0	252.7	211.9	220.2	164.5	93.6	80.3	50.1	17.5

Breakdown ₩ bn	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017
Cash from Operating Activities	76.5	54.0	109.5	39.4	32.4	70.4	68.9	21.5	33.0
Cash from Investing Activities	-65.7	-66.6	-24.2	-50.9	-51.5	-14.1	-16.5	-39.7	-22.1
Purchase of Property, Plant & Equipment	45.1	19.7	25.3	50.6	45.6	20.6	19.4	26.6	17.1
Cash from Financing Activities	-19.9	-19.6	-27.8	-6.1	-3.3	-25.4	-7.4	10.3	1.1
Dividends Paid	13.6	10.3	10.5	11.5	9.6	8.9	8.9	2.6	0.0
Net Change in Cash	-9.7	-30.7	57.3	-18.5	-19.4	27.0	44.3	-7.9	11.4

Breakdown ₩ bn	2026 Q2	2026 Q1	2025 Q4	2025 Q3	2025 Q2	2025 Q1	2024 Q4	2024 Q3	2024 Q2	2024 Q1
Total Revenue	162.8	141.3	126.1	133.3	134.8	137.9	126.4	128.6	129.8	124.5
Cost of Revenue	111.6	109.1	101.3	104.3	104.9	108.6	100.6	100.9	102.7	102.1
Gross Profit	51.2	32.1	24.9	29.1	29.9	29.2	25.8	27.7	27.1	22.4
Selling, General & Administrative	14.1	12.8	14.8	10.9	10.7	11.2	12.6	11.4	10.4	9.8
Operating Income	37.1	19.3	10.1	18.2	19.2	18.0	13.2	16.3	16.7	12.6
Finance Income	4.8	8.3	5.1	4.3	-3.0	7.0	8.0	1.0	4.0	4.9
Finance Costs	0.7	1.3	1.5	0.3	2.6	5.1	0.1	3.2	1.1	1.7
Pretax Income	42.3	27.0	14.4	23.1	14.5	20.4	21.6	14.5	19.4	16.4
Income Tax Expense	9.4	5.5	-0.9	5.3	2.6	4.0	8.0	2.4	4.3	2.7
Net Income	33.0	21.5	15.2	17.8	11.9	16.4	13.6	12.1	15.1	13.7
Total Comprehensive Income	34.0	22.7	15.0	18.7	12.1	16.4	10.6	11.1	15.5	13.7
Interest Income	0.8	0.9	1.0	0.8	0.8	0.9	1.0	1.0	0.9	0.9
Interest Expense	0.5	0.5	0.4	0.5	0.5	0.5	0.5	0.7	0.4	0.5

Breakdown ₩ bn	2026 Q2	2026 Q1	2025 Q4	2025 Q3	2025 Q2	2025 Q1	2024 Q4	2024 Q3	2024 Q2	2024 Q1
Total Assets	624.2	591.8	549.2	540.7	523.6	535.8	512.1	493.7	488.1	479.1
Current Assets	412.5	385.5	351.4	361.4	348.3	362.5	339.3	323.9	315.0	305.3
Cash & Cash Equivalents	61.8	65.0	59.0	71.1	64.6	73.6	68.6	62.6	116.2	107.4
Inventories	123.4	104.1	103.1	110.6	114.4	120.4	116.4	102.0	95.0	90.9
Trade Receivables	138.3	123.4	103.8	105.4	98.4	107.3	93.0	97.5	92.6	96.5
Non-current Assets	211.7	206.3	197.9	179.3	175.3	173.4	172.8	169.8	173.1	173.9
Property, Plant & Equipment	183.9	179.7	173.0	159.0	155.4	154.7	155.4	152.5	156.9	157.9
Intangible Assets	1.9	1.9	1.4	1.4	1.4	1.4	1.4	1.4	1.4	1.4
Total Liabilities	131.2	132.8	100.7	106.7	102.0	124.7	105.8	96.1	98.1	103.9
Current Liabilities	100.8	103.5	72.3	80.6	76.8	100.1	82.5	77.9	80.5	86.8
Non-current Liabilities	30.4	29.3	28.5	26.1	25.2	24.6	23.3	18.2	17.6	17.1
Total Equity	493.0	459.0	448.5	434.0	421.7	411.2	406.3	397.6	390.0	375.2
Share Capital	2.6	2.6	2.6	2.6	2.6	2.6	2.6	2.6	2.6	2.6
Retained Earnings	349.1	316.1	300.0	285.2	272.2	260.3	252.7	242.5	233.9	218.8

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	12.9	25.5	16.8	25.7	20.9	13.1	13.0	4.1	24.9	11.9
Cash from Investing Activities	-4.7	-18.2	-28.9	-12.5	-18.2	-6.0	-6.1	-53.4	-6.8	-0.3
Purchase of Property, Plant & Equipment	9.3	11.7	20.3	9.3	10.0	5.5	7.8	3.1	6.6	2.2
Cash from Financing Activities	-11.0	-2.2	-0.3	-6.9	-10.6	-2.1	-2.2	-4.2	-9.4	-3.9
Dividends Paid	—	—	0.0	4.8	—	—	0.0	3.4	6.9	0.0
Net Change in Cash	-3.2	6.0	-12.2	6.5	-9.0	4.9	6.1	-53.7	8.8	8.1

Consolidated (CFS), from DART. 9 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.

268280 Growth

FY2025 ₩bn	Latest	1-yr	3-yr CAGR	5-yr CAGR	10-yr CAGR
Revenue	532.1	+4.5%	-4.5%	+7.4%	—
Operating income	65.5	+11.4%	-6.8%	+5.9%	—
Net income	61.3	+12.3%	-1.8%	+12.1%	—
EPS	₩12,261	+12.3%	-1.8%	+12.1%	—
Operating cash flow	76.5	+41.8%	+24.7%	+1.7%	—
Shareholders' equity	448.5	+10.4%	+5.8%	+11.4%	—

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.

268280 Profitability

Ratio	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
Gross margin	21.2%	20.2%	12.4%	21.6%	25.6%	20.4%
Operating margin	12.3%	11.5%	5.1%	13.2%	17.9%	13.2%
Net margin	11.5%	10.7%	4.3%	10.6%	15.0%	9.3%
Return on equity	14.3%	14.0%	4.9%	18.4%	27.2%	13.6%
Return on assets	11.6%	11.2%	4.0%	14.2%	20.9%	10.9%
Operating cash flow / revenue	14.4%	10.6%	25.0%	6.4%	6.1%	18.9%
Capex / revenue	8.5%	3.9%	5.8%	8.3%	8.6%	5.5%

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.