1. Energy

  2. •

    Solar
S-Energy Co Ltd

S-Energy Co Ltd

095910.KS
S-Energy Co LtdKR flagKorea Exchange
1,848.00
KRW
-27.00
- -
67.62BMarket Cap
S-Energy Co Ltd
095910.KS
(Korea Exchange)

Recent

price

1,848.00

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
18,449.68
15,734.23
18,231.42
21,886.71
21,924.12
25,239.01
23,662.53
15,196.67
11,045.84
14,468.81
16,209.39
14,019.98
11,407.33
8,101.36
7,061.41
4,361.86
4,354.74
Revenue per Share
637.74
-38.35
816.97
711.1
233.42
250.93
217.58
-235.92
-854.49
-559.38
-1,271.31
-1,396.56
-1,277.83
-255.57
-1,182.55
-575.25
-524.43
Basic EPS, GAAP
-613.64
-1,229.4
-445.72
-1,881.03
-489.31
-2,291.07
-930.96
-1,475.72
-99.48
-1,382.37
-102.42
61.55
-2,189.78
-229.24
760.39
-514.73
-188.5
Free Cash Flow per Basic Share
56.96
59.1
- -
83.79
81.88
83.21
80.87
79.69
41.13
52.16
50.42
57.55
25.94
11.32
11.58
10.33
- -
Dividend per Share
2,405.87
2,561.34
3,389.29
4,042.88
4,149.01
4,350.4
4,343.47
3,511.51
2,580.27
1,978.35
619.6
-753.96
-2,010.98
-2,010.73
-3,248.06
-3,398.59
-3,195.76
Book Value per Share
4,839.82
4,986.41
5,916.8
6,526.93
6,583.87
7,058.45
6,194.89
5,766.6
7,893.88
7,630.84
8,705.22
7,448.46
5,385.74
4,459.6
3,256.94
2,190.6
2,301.39
Tangible Book Value per Share
13
12
12
12
12
12
13
15
15
15
16
18
18
21
21
23
24
Basic Weighted Avg Shares
231,735
195,327
225,361
268,745
273,414
313,049
304,554
225,110
165,548
216,920
254,800
250,474
208,745
169,856
147,848
102,440
106,238
Sales/Revenue/Turnover
5.5
1.36
8.28
4.58
2.19
1.78
2.46
3.64
-3.81
0.3
-2.5
-8.04
-4.27
1.85
-11.19
-19.12
-17.62
Operating Margin (%)
4,159
3,932
4,493
5,423
6,304
7,405
9,074
7,635
8,243
7,618
6,531
7,236
7,279
10,326
10,160
7,166
6,989
Depreciation Expense
8,010
-476
10,099
8,732
2,911
3,112
2,800
-3,495
-12,806
-8,386
-19,984
-24,950
-23,383
-5,358
-24,760
-13,510
-12,794
Net Income, GAAP
4.81
- -
20.76
22.56
37.73
39.11
15.27
6.26
- -
- -
- -
- -
- -
- -
- -
- -
0.34
Effective Tax Rate (%)
3.46
-0.24
4.48
3.25
1.06
0.99
0.92
-1.55
-7.74
-3.87
-7.84
-9.96
-11.2
-3.15
-16.75
-13.19
-12.04
Profit Margin (%)
46,870
42,233
50,441
43,709
41,521
48,060
-24,140
46,888
77,104
68,718
78,120
67,095
62,746
52,606
14,876
-4,999
-1,045
Working Capital
18,744
27,089
19,056
33,519
28,807
57,921
49,351
55,306
26,701
35,988
27,330
21,614
43,660
28,938
18,222
14,293
13,453
LT Debt
61,494
63,654
74,473
81,360
83,232
88,474
93,712
102,025
123,027
118,527
140,255
135,662
114,249
109,148
83,222
66,312
71,041
Total Equity
14.9
- -
12.78
6.78
2.33
1.9
3.15
3.57
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Invested Capital (%)
17.3
- -
13.65
9.83
3.25
3.32
3.75
-0.45
- -
- -
- -
- -
- -
- -
- -
- -
40.7
Return on Capital (%)
30.22
-1.54
27.41
19.08
5.74
5.89
5.1
-6.48
-28.24
-24.55
-101.44
- -
- -
- -
- -
- -
- -
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
83,446
90,077
85,151
LT Borrowings
8,933
8,144
7,315
LT Finance Leases
5,497
6,149
6,138
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
25
25
27
Market Capitalization
- -
- -
- -

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
146,360
127,636
131,724
Cash, Cash Equivalents & STI
69,900
64,029
68,035
Accounts Receivable, Net
25,706
27,074
28,803
Inventories
32,183
19,200
17,863
Total Current Liabilities
138,709
132,635
132,770
Payables & Accruals
- -
- -
- -
ST Debt
83,446
90,077
85,151
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
-1.75%
-13.52%
-20.32%
Free Cash Flow
-347.85%
-921.54%
-175.93%
Net Income, GAAP
39.35%
51.63%
-45.44%
Sales/Revenue/Turnover
-8.74%
-16.13%
-30.71%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
31,020
35,968
31,977
48,884
147,848
2025
22,621
29,631
22,030
28,159
102,440
2026
26,419
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-298.31
-59.66
23.15
- -
-1,182.55
2025
-277.83
144.75
-200
- -
-575.25
2026
-205
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
11.58
- -
- -
- -
11.58
2025
- -
- -
- -
- -
10.33
2026
- -
- -
- -
- -
- -
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Business
S-Energy Co., Ltd. is a South Korea-based company specializing in the photovoltaic (PV) power business, manufacturing and supplying high-quality PV solar modules. The company’s main products include standard PV modules, building-integrated photovoltaics (BIPV) modules, and specialized solar modules for use in engineering, procurement, and construction (EPC) projects, project development, and project financing. Its product portfolio features crystalline solar panels with power ranges from 365 to 665 Wp, including PERC, bifacial, TOPCon, and N-type technologies. S-Energy also provides solar system integration services, including system design, production, inspection, operation and maintenance (O&M), quality control, project management, and leasing of home PV systems. The company markets its products primarily under the "S-Energy" brand and also serves as an original equipment manufacturer (OEM) for private brands associated with major industry players. Founded in 2001 as a spin-off from Samsung Electronics, S-Energy is headquartered in Seongnam, Gyeonggi-do Province, South Korea, with global operations including regional offices in the United States, Europe, and Japan. The company’s client base spans Europe, the USA, Japan, Australia, Germany, and several other countries, making it a Tier 1 global PV module manufacturer recognized for quality and financial soundness. S-Energy operates production facilities with an annual manufacturing capacity of approximately 350 MW and has accumulated over 1 GW in system integration experience. Recent major developments include a strategic supply partnership deal with GS Engineering & Construction in 2024 that bolstered its market presence. The company also completed a stock sale in late 2025 to raise approximately 13.1 billion Korean won to support expansion and R&D initiatives. S-Energy continues to expand its project finance, system integration, and service offerings to align with global renewable energy demand trends, maintaining a strong financial position as reported by Bloomberg. These efforts underscore S-Energy’s commitment to innovation and market expansion within the solar energy sector.