BHI Co. Ltd.

BHI Co. Ltd.

KKRX:083650
44,750.00
KRW
-1,150.00
(-2.51%)
1,991.30EPS
46.45P/E
2.86TMarket Cap
Nov 18Next Earn
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
23,038.85
9,539.08
13,927.37
12,242.22
12,613.16
8,149.34
8,563.78
9,341.56
9,035.17
12,709.47
13,057.56
13,070.83
25,016.26
29,721.14
Basic EPS, GAAP
676.1
-369.01
-2,651
398
316
-1,140
-568
174
-1,330
-736
267
633
2,107
1,991.5
Free Cash Flow per Basic Share
-2,383.86
1,056
396.95
375.01
867.88
653.61
634.02
-30.08
-722.04
528.28
1,392.29
1,145.8
3,031.74
2,314.9
Dividend per Share
100.47
34.99
- -
1.79
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Book Value per Share
5,906.91
5,088.5
3,475.26
3,900.12
4,304.17
3,230.76
2,685.11
3,770.55
2,474.58
1,897.6
2,376.84
3,760.61
5,738.93
5,910.56
Tangible Book Value per Share
4,932.16
4,157.74
2,624.27
3,152.87
3,360.05
2,407.52
1,901.48
2,940.33
1,647.79
1,174.26
1,827.14
3,228.68
5,290.55
5,458.94
Basic Weighted Avg Shares
27
52
26
26
26
26
26
26
26
26
28
31
31
31
Sales/Revenue/Turnover
621,317
497,048
356,421
313,183
325,172
211,818
222,852
243,441
234,884
330,197
367,399
404,741
774,117
919,635
Operating Margin (%)
3.98
-0.13
-11.52
4.77
5.88
-11.53
-5.55
4.98
-12.96
2.46
4.1
5.44
9.75
10.7
Depreciation Expense
8,415
8,934
9,009
8,833
8,810
8,755
9,033
8,651
10,786
10,556
10,595
6,058
7,116
7,234
Net Income, GAAP
18,233
-19,228
-67,843
10,182
8,147
-29,631
-14,781
4,534
-34,575
-19,122
7,513
19,601
65,200
61,621
Effective Tax Rate (%)
9.38
- -
- -
- -
10.11
- -
- -
- -
- -
- -
- -
- -
17.96
17.72
Profit Margin (%)
2.93
-3.87
-19.03
3.25
2.51
-13.99
-6.63
1.86
-14.72
-5.79
2.04
4.84
8.42
6.7
Working Capital
55,738
-36,137
-94,541
-111,627
-85,223
-118,319
-92,868
-86,936
-114,593
-107,664
-133,055
-132,585
-81,637
-79,924
LT Debt
99,720
45,073
36,000
4,913
16,043
2,652
40,036
42,147
42,363
57,782
293
568
309
240
Total Equity
155,964
131,767
88,963
99,689
111,872
83,967
69,860
98,101
64,403
49,539
73,703
116,447
177,646
182,961
Return on Invested Capital (%)
5.12
- -
- -
- -
5.45
- -
- -
- -
- -
- -
- -
- -
21.79
27.16
Return on Capital (%)
7.15
- -
- -
- -
5.18
- -
- -
- -
- -
- -
- -
- -
25.04
22.43
Return on Common Equity (%)
12.5
-13.43
-61.71
10.8
7.7
-30.25
-19.22
5.4
-42.59
-33.64
12.23
20.64
44.36
40.11

Capital Structure

KRW

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
148,517
145,123
118,912
LT Borrowings
- -
- -
- -
LT Finance Leases
398
309
240
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
31
31
31
Market Capitalization
1,460,469
1,618,274
2,862,147

Working Capital

KRW

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
489,369
533,697
597,864
Cash, Cash Equivalents & STI
142,960
112,529
57,963
Accounts Receivable, Net
172,981
216,793
310,683
Inventories
8,963
8,978
11,697
Total Current Liabilities
588,587
615,333
677,787
Payables & Accruals
- -
- -
- -
ST Debt
148,517
145,123
118,912
Deferred Revenue
- -
- -
- -

Growth Rates

KRW

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
12.49%
20.38%
52.56%
Free Cash Flow
245.75%
492.31%
164.42%
Net Income, GAAP
-143.25%
-130.59%
232.64%
Sales/Revenue/Turnover
12.1%
29.95%
91.26%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

KRW

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
73,094
86,309
98,232
147,106
404,741
2025
135,275
169,299
204,695
264,848
774,117
2026
280,793
- -
- -
- -
- -

Quarterly Earnings Per Share

KRW

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
194
49
56
335.03
633
2025
281
965.93
377.06
483.63
2,107
2026
164.87
- -
- -
- -
- -

Quarterly Dividends Per Share

KRW

•

in mil. unless spec.

Year

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

Company Description

Full Time Employees
688
Sector
Producer manufacturing
Industry
Industrial machinery
Address
Haman-gun South Korea
IPO Date
Dec 2, 2005
Website
bhi.co.kr
Business
BHI Co., Ltd. designs, engineers, manufactures, and constructs power generation, nuclear energy, and industrial plant equipment worldwide. Founded in 1998 and headquartered in Haman-gun, South Korea, the company operates across several core business segments, including Power Generation Equipment, Nuclear Power Equipment, Balance of Plant (BOP) Systems, Steelmaking Plant Facilities, and Eco-Friendly Energy Solutions. The company's comprehensive product and service portfolio comprises: Heat Recovery Steam Generators (HRSG) for combined-cycle gas turbine power plants; utility and industrial boilers, including pulverized coal (PC) fired boilers, circulating fluidized bed (CFB) combustion boilers, and oil and gas-fired packaged boilers; nuclear power plant equipment, such as containment liner plates (CLP), containment filtered venting systems (CFVS), high- and low-pressure feedwater heaters, main surface condensers, and small modular reactor (SMR) structural components; balance of plant (BOP) systems, including air-cooled condensers, deaerators, fuel gas heaters, and high-pressure heat exchangers; steel plant waste heat recovery systems, including coke dry quenching (CDQ) boilers, sinter cooler waste heat recovery boilers, and recuperators; and environmental and clean energy solutions, including flue gas desulfurization (FGD) systems, selective catalytic reduction (SCR) nitrogen oxide reduction units, electrostatic precipitators, ammonia co-firing combustion systems, and water electrolysis green hydrogen production equipment. The company provides turnkey engineering, procurement, and construction (EPC) support, manufacturing, installation, maintenance, and retrofitting services to public and private electric utilities, independent power producers, industrial steel manufacturers, engineering contractors, and national energy agencies. Geographically, BHI Co., Ltd. serves clients domestically in South Korea and internationally across the Middle East (including Saudi Arabia, Kuwait, Qatar, and the United Arab Emirates), North America, Europe, and the Asia-Pacific region. In recent developments, BHI Co., Ltd. has significantly expanded its operational order backlog through major contract awards in both thermal and nuclear power markets. The company secured major large-scale equipment supply contracts for liquefied natural gas (LNG) combined-cycle power facilities, including a 216.99 billion KRW contract with Korea Western Power Co., Ltd. and a 145.3 billion KRW supply agreement for a combined-cycle power project in Kuwait. In the nuclear power sector, BHI Co., Ltd. secured contracts to manufacture and supply critical auxiliary equipment and Balance of Plant systems for South Korea's Shin Hanul Units 3 and 4 nuclear power project under Korea Hydro & Nuclear Power (KHNP). In addition, the company is advancing its strategic pivot toward next-generation clean energy infrastructure by expanding its capabilities in Small Modular Reactor (SMR) balance-of-plant components, commercial-scale ammonia co-firing power generation technologies, and water electrolysis systems for green hydrogen generation.