1. South Korea Stocks

  2. •

    Consumer Cyclical

  3. •

    Apparel - Manufacturers
F&F Co., Ltd

F&F Co., Ltd

383220.KS
F&F Co., LtdKR flagKorea Exchange
77,600.00
KRW
-900.00
- -
2.91TMarket Cap
F&F Co., Ltd
383220.KS
(Korea Exchange)

Recent

price

77,600.00

P/E

ratio

- -

div

yld

- -

ROIC.AI

2021
2022
2023
2024
2025
TTM
FRC
5,692.84
47,380.49
51,869.47
50,002.52
51,493.16
52,984.67
Revenue per Share
1,180
11,571
11,144
9,504
10,611
13,665.87
Basic EPS, GAAP
1,433.56
8,235.39
10,566.59
-2,639.85
8,750.88
8,610.94
Free Cash Flow per Basic Share
- -
1,102.45
1,599.96
1,710.06
1,701.17
- -
Dividend per Share
1,201.34
16,480.5
25,996.57
33,946.3
43,195.35
45,781.29
Book Value per Share
2,740.26
21,224.14
29,888.25
35,961.79
44,966.93
47,683.42
Tangible Book Value per Share
191
38
38
38
38
38
Basic Weighted Avg Shares
1,089,172
1,808,895
1,978,496
1,896,010
1,933,996
1,989,278
Sales/Revenue/Turnover
29.63
29.02
27.88
23.87
24.23
25.06
Operating Margin (%)
28,332
80,322
73,821
101,175
94,238
92,934
Depreciation Expense
225,761
441,758
425,074
360,375
398,531
513,077
Net Income, GAAP
28.17
26.86
23.41
25.42
26.05
26.31
Effective Tax Rate (%)
20.73
24.42
21.48
19.01
20.61
25.79
Profit Margin (%)
-175,198
25,279
258,764
114,685
359,395
495,571
Working Capital
29,591
26,976
173,000
157,449
136,146
127,269
LT Debt
541,258
943,172
1,317,741
1,577,298
1,878,679
1,981,064
Total Equity
- -
35.15
28.54
18.4
15.93
16.64
Return on Invested Capital (%)
- -
63.51
39.64
25.4
22.09
27.96
Return on Capital (%)
- -
102.85
52.45
31.63
27.39
33.92
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
216,207
244,740
262,072
LT Borrowings
- -
- -
- -
LT Finance Leases
139,760
136,146
127,269
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
38
37
37
Market Capitalization
2,356,057
2,574,002
2,301,472

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
861,218
942,219
1,173,651
Cash, Cash Equivalents & STI
235,840
341,765
583,122
Accounts Receivable, Net
152,793
150,813
150,601
Inventories
414,026
403,163
385,593
Total Current Liabilities
573,563
582,824
678,080
Payables & Accruals
- -
- -
- -
ST Debt
216,207
244,740
262,072
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
- -
19.11%
Free Cash Flow
- -
- -
-428.35%
Net Income, GAAP
- -
- -
10.59%
Sales/Revenue/Turnover
- -
- -
2%
Total Cash Common Dividend
- -
- -
-1.46%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
507,029
391,473
450,963
546,544
1,896,010
2025
505,616
378,871
474,257
575,252
1,933,996
2026
560,898
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
2,510
1,952
2,207
- -
9,504
2025
2,209
1,671.64
2,612.49
- -
10,611
2026
5,270.76
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
1,710.06
2025
- -
- -
- -
- -
1,701.17
2026
- -
- -
- -
- -
- -
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Business
F&F Co., Ltd. (KRX: 383220) manufactures and sells sewn wearing apparel, hats, shoes, bags, and accessories primarily in South Korea. The company offers products under the MLB, MLB KIDS, DISCOVERY, DISCOVERY KIDS, STRETCH ANGELS, BANILA CO, B. BY BANILA, COLLECTED, and JARDIN PERDU brands; its portfolio includes coats, shirts, jackets, sportswear, urban streetwear, premium fashion collections, and lifestyle items targeted at men, women, and children. Founded in 1972 and headquartered at F&F Building, 541 Eonju-ro, Gangnam-gu, Seoul, South Korea, F&F operates in the consumer discretionary sector, focusing on apparel manufacturing and distribution through retail stores and e-commerce channels. F&F Co., Ltd. became independent from F&F Holdings Co., Ltd. via spin-off and listing on the Korea Stock Exchange on May 21, 2021, with F&F Holdings maintaining a significant stake of approximately 33.43% as of recent transactions. In recent developments, F&F has pursued strategic investments in the golf sector, committing approximately 358 billion won ($258 million) in subordinated equity and mezzanine financing as the largest limited partner investor in a 2021 acquisition of TaylorMade Golf by a Centroid Investment Partners-managed fund; the company engaged Goldman Sachs in 2025 as a financial advisor to pursue full ownership of TaylorMade amid ongoing disputes over potential sales, reaffirming its acquisition intent. Additionally, F&F divested a 58.88% stake in Victory Contents Co., Ltd., a content production firm, to a consortium including db Private Equity and others for KRW 38.9 billion in September 2024, following prior investments in entertainment subsidiaries launched in 2023 for K-pop and drama production. The company has executed multiple equity buyback programs, including a KRW 10 billion repurchase plan authorized in November 2024 that expired in November 2025 with 169,393 shares repurchased, alongside extensions and tranches throughout 2024-2025 to enhance shareholder value.