Pungguk Ethanol Co.Ltd.

Pungguk Ethanol Co.Ltd.

KKRX:023900
6,890.00
KRW
-90.00
(-1.29%)
998.29EPS
13.15P/E
123.61BMarket Cap
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
7,960.22
8,554.17
8,052.62
7,679.57
8,534.12
9,561.37
9,634.47
9,365.37
10,129.93
12,215.41
13,373.03
12,413.02
12,976.82
12,739.67
Basic EPS, GAAP
577.33
489.33
606.86
713.33
1,124
831
618
651
566
273
672
639
812
745.75
Free Cash Flow per Basic Share
891.33
461.58
728.59
75.18
529.9
-439.21
132.04
1,189.48
-905.7
-891.15
920.64
393.59
114.2
809.32
Dividend per Share
83.34
166.6
166.67
266.67
159.96
270.05
199.94
160.02
179.91
119.94
60.01
100.05
159.99
- -
Book Value per Share
7,250.36
7,560.64
8,014.74
8,465.71
9,438.72
10,183.64
10,607.26
11,171.91
11,483.19
11,716.47
12,318.66
12,924.5
13,637.22
13,629.17
Tangible Book Value per Share
6,889.78
7,200.06
7,654.16
8,202.46
9,094.36
9,836.44
10,260.06
11,017.06
11,328.34
11,541.35
12,143.54
12,749.37
13,462.1
13,454.04
Basic Weighted Avg Shares
13
13
13
13
13
13
13
13
13
13
13
13
13
13
Sales/Revenue/Turnover
100,287
107,828
101,463
96,763
107,554
120,453
121,431
117,990
127,698
153,988
168,467
156,327
163,520
160,520
Operating Margin (%)
10.33
7.97
10.19
11.97
10.52
11.35
8.75
9.46
5.67
2.45
6.93
8
10.25
9.84
Depreciation Expense
5,606
5,829
5,107
5,504
6,105
6,233
8,184
8,473
8,234
8,104
8,514
10,122
9,908
9,870
Net Income, GAAP
7,274
6,168
7,646
8,988
14,166
10,469
7,789
8,202
7,135
3,441
8,466
8,047
10,232
9,396
Effective Tax Rate (%)
20.83
22.66
24.64
22.53
23.26
21.43
21.33
22.29
11.43
10.87
13.97
21
22.35
22.83
Profit Margin (%)
7.25
5.72
7.54
9.29
13.17
8.69
6.41
6.95
5.59
2.23
5.03
5.15
6.26
5.85
Working Capital
24,372
27,733
29,847
38,483
53,977
42,975
42,042
50,836
34,849
26,841
34,802
40,304
41,515
40,379
LT Debt
2,075
3,123
5,368
16,155
12,314
8,133
7,323
4,325
2,490
1,500
- -
9,000
9,000
9,000
Total Equity
101,140
105,738
111,905
118,001
130,632
140,912
147,483
155,555
161,271
166,231
175,955
186,054
198,165
198,751
Return on Invested Capital (%)
7.65
5.95
6.59
6.81
5.99
6.78
5.08
5.14
3.71
1.92
5.68
5.26
6.37
5.97
Return on Capital (%)
6.19
5.05
6.3
6.91
9.96
6.47
4.25
4.53
3.29
0.98
3.5
3
3.51
3.07
Return on Common Equity (%)
8.25
6.61
7.79
8.66
12.56
8.47
5.95
5.98
5
2.35
5.59
5.06
6.11
5.6

Capital Structure

KRW

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
314
- -
- -
LT Borrowings
9,000
9,000
9,000
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
13
13
13
Market Capitalization
114,156
116,298
123,606

Working Capital

KRW

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
59,218
57,112
61,529
Cash, Cash Equivalents & STI
18,928
17,193
27,146
Accounts Receivable, Net
28,300
25,260
22,378
Inventories
10,469
9,758
7,965
Total Current Liabilities
17,997
15,597
21,149
Payables & Accruals
- -
- -
- -
ST Debt
314
- -
- -
Deferred Revenue
- -
- -
- -

Growth Rates

KRW

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
5.9%
4.97%
6.51%
Free Cash Flow
49.36%
-101.85%
-70.97%
Net Income, GAAP
13.22%
20.68%
27.15%
Sales/Revenue/Turnover
5.21%
7.12%
4.6%
Total Cash Common Dividend
9.87%
11.17%
60%

Quarterly Revenue

KRW

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
39,299
36,966
39,831
40,231
156,327
2025
40,621
40,457
43,422
39,020
163,520
2026
37,621
- -
- -
- -
- -

Quarterly Earnings Per Share

KRW

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
140
125
209
165.27
639
2025
240
158.08
305.39
109.06
812
2026
173.22
- -
- -
- -
- -

Quarterly Dividends Per Share

KRW

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
100.05
2025
- -
- -
- -
- -
159.99
2026
- -
- -
- -
- -
- -

Company Description

Full Time Employees
49
Sector
Process industries
Industry
Chemicals: specialty
Address
Daegu South Korea
IPO Date
Nov 23, 1994
Business
Pungguk Ethanol Co., Ltd. is a South Korea-based company primarily engaged in the manufacturing, purification, and distribution of fermented ethanol, industrial gases, and hydrogen energy solutions. Founded in 1954 and headquartered in Daegu, South Korea, the company operates as a core member of the Sundo Group, serving beverage distillers, pharmaceutical companies, semiconductor and electronic display manufacturers, and petrochemical facilities primarily across South Korea. The company's core product and service portfolio comprises: fermented ethanol solutions, including food- and beverage-grade ethyl alcohol refined from agricultural grains for the production of soju, alcoholic beverages, vinegars, and food preservatives; pharmaceutical- and hygiene-grade ethanol formulated for disinfectants, medical antiseptics, and cosmetics; electronic-grade ultra-high purity ethanol engineered for wafer drying, flat-panel display cleaning, and secondary battery production processes; agricultural fermentation by-products, including dried distillers grains with solubles (DDGS) utilized in high-protein livestock feed; specialty and bulk industrial gases, consisting of high-purity acetylene for industrial cutting and synthetic processes, alongside liquid oxygen, liquid nitrogen, liquid argon, and carbon dioxide; temperature-control products, including solid dry ice for cold-chain food logistics, medical transport, and industrial blast cleaning; and hydrogen energy supply services, providing ultra-high purity gaseous hydrogen delivered via high-pressure tube trailers and pipeline networks for industrial hydrotreating, chemical refining, and hydrogen fuel cell applications. Pungguk Ethanol conducts its operations directly and through key consolidated subsidiaries, most notably SDG Co., Ltd., which manages large-scale hydrogen purification and pipeline distribution in the Ulsan Petrochemical Complex, and Sundo Industrial Co., Ltd., which produces and distributes compressed industrial gases. In recent developments, the company has actively accelerated its strategic transformation toward high-margin clean energy and advanced materials markets to diversify away from domestic alcoholic beverage demand cycles. Pungguk Ethanol has expanded its hydrogen business operations by securing new off-take agreements and integrating additional by-product hydrogen supply pipelines across regional industrial clusters. In addition, the company has broadened its commercial focus on ultra-high purity solvent supply for domestic semiconductor and rechargeable battery manufacturing ecosystems, while modernizing its grain fermentation and distillation infrastructure to optimize yield efficiencies and manage raw material volatility.