SDN Company Ltd.

SDN Company Ltd.

KKRX:099220
4,945.00
KRW
-175.00
(-3.42%)
-49.57EPS
832.75BMarket 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
1,673.33
1,526.58
1,612.79
1,050
1,500.48
1,621.41
1,514.12
1,684.5
1,841.35
1,922.84
1,393.27
1,557.13
1,438.8
1,840.46
Basic EPS, GAAP
-74
-301
27
-28
78
52
93
176
-67.36
14
-160
-509
-28
-44.16
Free Cash Flow per Basic Share
495.67
-27.29
101.07
-22.65
-181.33
-23.54
-73.15
237.84
-456.13
-369.75
-155.01
105.28
45.84
134.9
Dividend per Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Book Value per Share
2,055.12
1,534.47
1,445.29
1,396.04
1,524.82
1,604.05
1,641.95
1,873.15
1,831.33
1,886.03
1,722.65
1,170.29
1,214.67
1,200.36
Tangible Book Value per Share
2,036.75
1,519.59
1,406.17
1,358.33
1,497.69
1,581.43
1,621.81
1,684.91
1,800.47
1,870.31
1,662.5
1,160.63
1,206.42
1,192.13
Basic Weighted Avg Shares
24
28
30
34
35
38
43
47
50
54
54
54
61
49
Sales/Revenue/Turnover
39,843
42,295
48,182
36,207
52,642
60,887
65,024
80,001
92,816
104,471
75,692
84,361
87,454
89,812
Operating Margin (%)
4.96
2.6
11.45
3.97
7.16
4.77
4.55
0.28
5.72
0.27
-10.1
-7.71
0.53
1.92
Depreciation Expense
2,190
1,787
1,817
1,990
2,101
2,166
1,998
2,962
3,852
3,054
3,774
5,010
2,019
2,005
Net Income, GAAP
-1,762
-8,339
807
-966
2,737
1,953
3,994
8,359
-3,395
761
-8,692
-27,576
-1,702
-2,155
Effective Tax Rate (%)
- -
- -
23.24
- -
- -
20.6
3.42
- -
- -
73.97
- -
- -
- -
- -
Profit Margin (%)
-4.42
-19.72
1.67
-2.67
5.2
3.21
6.14
10.45
-3.66
0.73
-11.48
-32.69
-1.95
-2.4
Working Capital
-11,573
-12,538
-22,941
-19,869
-14,776
-2,364
-385
6,321
23,788
25,256
29,237
-6,878
10,263
8,252
LT Debt
9,142
3,854
7,445
8,050
7,434
8,189
10,110
47,901
17,892
15,323
29,373
18,628
17,001
16,358
Total Equity
51,994
45,913
48,234
49,092
53,621
66,934
76,025
90,705
97,365
102,164
93,202
62,443
75,361
74,842
Return on Invested Capital (%)
- -
- -
4.77
- -
- -
2.23
2.54
- -
- -
0.05
- -
- -
- -
- -
Return on Capital (%)
- -
- -
3.85
- -
- -
4.57
5.63
- -
- -
0.85
- -
- -
- -
- -
Return on Common Equity (%)
-3.73
-17.04
1.71
-1.98
5.33
3.24
5.59
10.05
-3.62
0.76
-8.89
-35.19
-2.43
-3.09

Capital Structure

KRW

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
37,120
38,759
38,464
LT Borrowings
18,136
16,851
16,116
LT Finance Leases
- -
149
242
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
63
63
63
Market Capitalization
767,292
676,652
832,754

Working Capital

KRW

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
68,949
65,510
66,164
Cash, Cash Equivalents & STI
6,177
6,940
5,495
Accounts Receivable, Net
28,539
24,292
22,365
Inventories
16,913
17,671
18,234
Total Current Liabilities
54,980
55,246
57,912
Payables & Accruals
- -
- -
- -
ST Debt
37,120
38,759
38,464
Deferred Revenue
- -
- -
- -

Growth Rates

KRW

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
5.99%
-1.76%
20.69%
Free Cash Flow
-29.5%
-118.63%
-51.15%
Net Income, GAAP
-180.03%
-276.47%
-93.83%
Sales/Revenue/Turnover
8.22%
3.23%
3.67%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

KRW

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
16,082
20,895
21,094
26,288
84,361
2025
14,859
24,450
26,124
22,021
87,454
2026
17,217
- -
- -
- -
- -

Quarterly Earnings Per Share

KRW

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-69
-116
-18
-3,057.25
-509
2025
-8
-10.98
57.44
-666.5
-28
2026
-13.95
- -
- -
- -
- -

Quarterly Dividends Per Share

KRW

•

in mil. unless spec.

Year

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

Company Description

Full Time Employees
91
Sector
Electronic technology
Industry
Semiconductors
Address
Seongnam-si South Korea
IPO Date
May 20, 2009
Website
sdn-i.com
Business
SDN Company Ltd. is a South Korea-based renewable energy and marine equipment company primarily engaged in the manufacturing, distribution, and engineering of solar photovoltaic systems and marine propulsion solutions. Founded in 1994 and headquartered in Seongnam-si, Gyeonggi-do, South Korea, the company operates across two principal business divisions: the Solar Energy Division and the Engine and Marine Division. In its Solar Energy Division, SDN Company Ltd. provides comprehensive engineering, procurement, and construction services for turnkey photovoltaic power plants, alongside the manufacture and supply of solar power hardware. The company's core product and service portfolio includes high-efficiency crystalline silicon solar modules; building-integrated photovoltaic systems; ground-mounted, rooftop, and floating solar racking structures; string and central photovoltaic inverters; power conditioning systems; automated solar monitoring and energy management systems; and comprehensive operations, maintenance, and grid-connection engineering services for utility-scale, commercial, and industrial power generation facilities. In its Engine and Marine Division, the company acts as the authorized domestic distributor of Honda Marine outboard engines in South Korea. The division manufactures and distributes high-performance aluminum leisure boats, commercial fishing vessels, patrol craft, and custom aluminum workboats; four-stroke marine outboard motors ranging across low-to-high horsepower capacities; marine propulsion equipment, spare parts, and steering assemblies; and specialized marine technical inspection, overhaul, and maintenance services for government institutions, commercial maritime enterprises, and recreational watercraft operators. SDN Company Ltd. serves public institutions, independent power producers, commercial enterprises, and retail marine customers throughout South Korea, while also managing utility-scale renewable power generation assets and engineering operations in international markets, including Eastern Europe and Southeast Asia. The company conducts its project development and asset management activities both directly and through specialized project subsidiaries and overseas project entities. In recent strategic and operational developments, SDN Company Ltd. has expanded its renewable product pipeline by introducing high-efficiency N-type TOPCon and bifacial solar module solutions tailored for commercial, industrial, and agrivoltaic applications. In its marine business, the company has advanced the development of eco-friendly marine mobility solutions, focusing on electric outboard propulsion systems, hybrid marine powertrain integration, and lightweight recyclable aluminum vessel manufacturing to capitalize on national green shipping modernization initiatives. Additionally, the company has broadened its revenue base by securing expanded long-term operations and maintenance service agreements for domestic solar infrastructure, realigning its overseas project portfolio, and entering strategic collaborations to develop distributed smart micro-grid and energy storage system applications.