1. South Korea Stocks

  2. •

    Consumer Cyclical

  3. •

    Apparel - Footwear & Accessories
Hwaseung Enterprise Co., Ltd.

Hwaseung Enterprise Co., Ltd.

241590.KS
Hwaseung Enterprise Co., Ltd.KR flagKorea Exchange
3,105.00
KRW
-40.00
- -
188.13BMarket Cap
Hwaseung Enterprise Co., Ltd.
241590.KS
(Korea Exchange)

Recent

price

3,105.00

P/E

ratio

- -

div

yld

- -

ROIC.AI

2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
- -
14,402.53
6,912.1
14,536.82
19,840.5
18,419.8
18,875.84
27,279.65
20,048.02
26,544.67
25,808.19
24,638.23
Revenue per Share
-0.03
780
373
284
1,031
662
-108
-165
-434
546
-477
-648.35
Basic EPS, GAAP
-0.01
-535.83
-723.4
-1,117.17
8.01
-372.2
-1,760.1
-598.37
29.34
428.94
1,228.36
777.78
Free Cash Flow per Basic Share
- -
- -
8.48
23.19
35.47
44.97
71.17
44.95
45.24
45.02
45.07
- -
Dividend per Share
258.08
1,082.87
812.81
2,003.07
2,976.84
3,616.93
3,472.74
3,290.25
2,816.15
3,805.18
3,275.37
3,052.76
Book Value per Share
1,536.38
4,288.31
2,316.12
4,609.81
5,614.79
8,352.67
8,599.59
9,057.12
8,557.75
8,610.51
7,106
7,150.95
Tangible Book Value per Share
40
44
111
60
61
61
60
61
61
61
61
61
Basic Weighted Avg Shares
- -
640,234
768,224
879,226
1,201,591
1,115,756
1,138,575
1,654,030
1,213,832
1,609,617
1,564,379
1,491,863
Sales/Revenue/Turnover
- -
6.85
7.62
4.58
7.11
5.6
0.62
3.19
1.07
5.13
2.29
1.18
Operating Margin (%)
- -
18,280
25,432
37,318
48,539
57,678
61,694
73,326
70,992
71,418
75,299
74,496
Depreciation Expense
-1
34,673
41,456
17,177
62,440
40,100
-6,514
-10,004
-26,277
33,108
-28,914
-39,258
Net Income, GAAP
- -
18.81
21.24
26.1
16.53
14.87
418.29
216.11
- -
15.8
- -
- -
Effective Tax Rate (%)
- -
5.42
5.4
1.95
5.2
3.59
-0.57
-0.6
-2.16
2.06
-1.85
-2.63
Profit Margin (%)
-46,027
38,704
-24,730
-48,661
-34,953
72,448
2,242
-20,724
-72,224
-152,720
-188,602
-217,835
Working Capital
8,340
12,970
34,386
63,699
81,068
43,966
65,944
89,902
65,409
53,327
38,318
39,703
LT Debt
63,046
192,790
261,471
283,124
367,462
537,461
550,420
591,183
559,384
563,750
471,304
473,102
Total Equity
- -
13.73
11.46
5.59
10.82
6.39
-2.26
-5.3
- -
5.78
- -
- -
Return on Invested Capital (%)
- -
23.52
18.6
7.01
14.72
8.38
-5.73
-4.45
- -
7.44
- -
- -
Return on Capital (%)
- -
118.54
59.88
16.24
41.43
20.08
-3.04
-4.89
-14.2
16.5
-13.47
-19.03
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
587,913
577,027
664,267
LT Borrowings
12,979
15,348
12,170
LT Finance Leases
23,072
22,970
27,533
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
61
61
61
Market Capitalization
368,694
299,336
272,478

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
626,223
601,858
667,769
Cash, Cash Equivalents & STI
90,586
128,150
138,768
Accounts Receivable, Net
124,081
94,586
123,704
Inventories
278,228
255,750
271,187
Total Current Liabilities
824,635
790,460
885,605
Payables & Accruals
- -
- -
- -
ST Debt
587,913
577,027
664,267
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
31.46%
-2.24%
-16.4%
Free Cash Flow
446,938.46%
350.11%
186.27%
Net Income, GAAP
-287,841.45%
-62.67%
-187.33%
Sales/Revenue/Turnover
- -
10.1%
-2.81%
Total Cash Common Dividend
- -
4.26%
0.08%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
345,369
391,678
386,114
486,455
1,609,617
2025
423,428
386,981
355,775
398,196
1,564,379
2026
350,912
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-25
101
131
- -
546
2025
4
-171.7
-81.12
- -
-477
2026
-167
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
45.02
2025
- -
- -
- -
- -
45.07
2026
- -
- -
- -
- -
- -
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Business
Hwaseung Enterprise Co., Ltd. (241590.KS) serves as a holding company primarily engaged in the manufacturing and distribution of sporting goods footwear and raw materials through its subsidiaries. The company manufactures and sells athletic shoes via original design manufacturing (ODM) and original equipment manufacturing (OEM) processes; purchases and sells natural rubber, synthetic rubber, recycled rubber, and EVA for applications in shoes, tires, and adhesive tapes; trades pepper and chemical materials; and supplies water to shoe manufacturing facilities. Founded in 2015 and headquartered in Seoul, South Korea, specifically at the 8th Floor, 301 Dongik Seongbong Building, Seocho-gu, it operates with a focus on the consumer cyclicals sector, exporting products to markets including Korea, Indonesia, China, and pursuing expansion into India. As a subsidiary of Hwaseung Industries Co., Ltd., it supports the broader Hwaseung Group's activities across materials, automotive parts, general trading, chemicals, and sports fashion ODM segments. Recent developments include plans for a large-scale non-leather footwear manufacturing facility in India with an investment of approximately Rs 1,720 crore to create 20,000 jobs, following an initial memorandum with Tamil Nadu shifted to Andhra Pradesh; and ongoing divestitures by the parent Hwaseung Corporation, such as a German PE firm Mutares acquiring majority stakes in two China-based auto supplier sites in Q4 2025 and an undisclosed buyer purchasing a 67% stake in Hwaseung Special Rubber (Taicang) Co., Ltd. for KRW 21 billion in October 2025.