1. South Korea Stocks

  2. •

    Consumer Defensive

  3. •

    Packaged Foods
Namyang Dairy Products Co., Ltd

Namyang Dairy Products Co., Ltd

003920.KS
Namyang Dairy Products Co., LtdKR flagKorea Exchange
45,300.00
KRW
-550.00
- -
356.20BMarket Cap
Namyang Dairy Products Co., Ltd
003920.KS
(Korea Exchange)

Recent

price

45,300.00

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
150,228.83
176,656.38
196,910.96
178,654.72
126,713.53
143,053.73
146,375.3
137,644.37
127,030.51
121,758.05
112,134.4
112,977.87
113,987.32
146,644.96
142,903.54
- -
140,595.12
Revenue per Share
11,128.2
7,032.41
8,950.6
-6,725.6
18.4
3,148.6
4,391.4
592.2
237.1
3,452.7
-6,233.7
-6,959
-9,269
-9,746.77
37.49
- -
1,857.91
Basic EPS, GAAP
6,232.01
-5,799
-29,285.69
-21,510.61
-9,016.39
3,472.2
9,640.91
-4,837.17
-3,646.16
-12,605.73
-10,609.18
3,407.51
-7,682.3
-6,817.92
4,790.94
- -
1,557.87
Free Cash Flow per Basic Share
119.15
125.73
125.59
126.23
95.71
100.95
100.96
100.81
100.57
101
101
100.97
100.96
125.87
133.44
- -
- -
Dividend per Share
107,741.04
123,078.05
130,765.06
125,044.47
94,586.74
102,726.37
107,474.56
107,997.77
106,998.21
110,189.89
105,629.08
98,505.53
89,638.76
100,180.49
98,185.74
- -
91,821.15
Book Value per Share
111,369.4
118,868.25
126,481.3
120,801.31
91,368.63
99,342.01
104,280.9
104,806.36
103,792.08
105,319.4
100,690.09
94,331.5
85,860.33
97,144.47
94,275.64
- -
142,145.34
Tangible Book Value per Share
7
7
7
7
9
8
8
8
8
8
8
8
8
7
7
- -
7
Basic Weighted Avg Shares
1,028,083
1,205,185
1,343,570
1,209,691
1,131,434
1,211,135
1,239,168
1,166,972
1,079,745
1,030,827
948,926
956,084
964,660
996,763
952,794
914,149
923,713
Sales/Revenue/Turnover
4.73
4.05
3.15
-3.11
-4.09
1.34
3.38
0.44
0.8
0.04
-8.07
-8.14
-9
-7.17
-1.03
0.57
0.61
Operating Margin (%)
31,580
22,221
25,075
26,807
41,095
40,932
37,399
37,679
39,475
52,645
58,543
54,748
40,230
35,497
31,555
25,093
24,601
Depreciation Expense
76,155
47,976
61,072
-45,540
164
26,657
37,176
5,021
2,015
29,231
-52,752
-58,891
-78,442
-66,250
250
7,108
12,207
Net Income, GAAP
25.85
27.98
19.51
- -
61.55
29.91
19.11
49.72
73.98
24.95
- -
- -
- -
- -
- -
- -
1.36
Effective Tax Rate (%)
7.41
3.98
4.55
-3.76
0.01
2.2
3
0.43
0.19
2.84
-5.56
-6.16
-8.13
-6.65
0.03
0.78
1.32
Profit Margin (%)
502,973
512,183
492,538
393,828
395,045
395,737
480,168
478,269
479,998
446,166
410,448
383,146
307,919
264,761
262,753
247,285
244,072
Working Capital
- -
- -
- -
- -
- -
- -
- -
- -
- -
33,160
30,009
21,879
15,671
10,561
6,427
7,960
7,533
LT Debt
764,138
818,970
870,836
826,492
823,934
849,148
889,291
894,973
888,823
912,239
873,226
812,961
737,951
667,280
631,786
949,069
940,406
Total Equity
4.92
4.39
4
- -
-2.16
1.36
3.87
0.29
0.25
0.03
- -
- -
- -
- -
- -
- -
0.72
Return on Invested Capital (%)
10.87
6.08
7.05
- -
0.02
3.11
4.17
0.55
0.22
3.18
- -
- -
- -
- -
- -
- -
2.01
Return on Capital (%)
10.88
6.08
7.05
-5.24
0.02
3.11
4.18
0.55
0.22
3.17
-5.78
-6.82
-9.85
-9.2
0.04
1.13
2
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
4,805
5,255
6,413
LT Borrowings
- -
- -
- -
LT Finance Leases
6,682
7,960
7,533
Preferred Equity and Hybrid Capital
1,000
1,000
1,000
Shares Outstanding
6
6
6
Market Capitalization
365,464
334,730
325,873

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
347,735
339,243
369,848
Cash, Cash Equivalents & STI
77,070
77,103
78,646
Accounts Receivable, Net
101,923
93,150
100,914
Inventories
159,371
163,193
183,544
Total Current Liabilities
91,935
91,958
125,776
Payables & Accruals
- -
- -
- -
ST Debt
4,805
5,255
6,413
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
2.22%
3.84%
50.22%
Free Cash Flow
-46.83%
-139.95%
-44.54%
Net Income, GAAP
363.54%
534.47%
2,743.41%
Sales/Revenue/Turnover
-2.7%
-0.7%
-4.06%
Total Cash Common Dividend
- -
- -
-6.07%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
234,213
244,445
242,685
231,452
952,794
2025
215,610
232,091
237,488
228,960
914,149
2026
225,175
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-63.4
-153.2
0.4
- -
37.49
2025
148
145.12
352.18
- -
- -
2026
801
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
133.44
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
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Business
Namyang Dairy Products Co., Ltd operates as a leading South Korean dairy manufacturer producing a wide range of dairy products including milk, yogurt, cheese, cream, and butter. Its core product offerings encompass popular milk brands such as the “Delicious Milk GT” series, which uses oxygen-blocking technology to preserve freshness; infant formula brands including “Imperial Dream XO,” “I am Mother,” and “Organic Goat Infant Formula”; functional fermented dairy products like “Inner Care Bone & Joint Protect”; and an extensive protein drink line under the “Takefit” brand with varied protein content tailored for hydration and nutrition needs. The company also offers plant-based beverages such as “Flora Lab.” In recent years, following new ownership led by private equity firm Hahn & Co., Namyang Dairy has undergone a strategic turnaround emphasizing financial recovery, product innovation, and market expansion with a focus on health-conscious and sustainable product development. Notable changes include expanding the “Delicious Milk GT” line with lactose-free and high-calcium variants, launching new protein drinks such as the water-type “Takefit Pro Shine Muscat” flavor to meet consumer demand for weight management and high-protein diets, and introducing plant-based dairy products through a partnership with biotechnology firm Pureture to incorporate yeast-derived casein for clean-label alternatives. The company has broadened its export business, particularly targeting Southeast Asian markets with long-shelf-life infant formulas and health-focused items. Moreover, Namyang has implemented more sustainable farming and production practices to align with environmental standards and adopted greater corporate transparency and governance following its 2024 ownership changes. Founded in 1969 and headquartered in Seoul, Namyang Dairy Products operates domestically and in 21 countries globally, serving both retail consumers and business-to-business customers. Its recent developments reflect a comprehensive strategy to regain market leadership through diversified product lines, international expansion, innovative health and sustainability-oriented offerings, and enhanced corporate governance under new management. This positions Namyang Dairy as a robust player in the competitive dairy and plant-based beverage industry in South Korea and beyond.