CS Wind Corp.

CS Wind Corp.

KKRX:112610
43,750.00
KRW
-950.00
(-2.13%)
256.83EPS
407.96P/E
1.76TMarket 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
9,823.68
10,724.74
8,612.38
9,170.7
9,343.6
15,169.59
24,443.89
14,849.96
28,828.89
33,157.84
36,708.11
74,149.7
70,711.4
66,950.44
Basic EPS, GAAP
890
1,861.43
619.22
-508.91
1,165.53
178.95
975.69
473
1,597
46
468
3,434
837
104.3
Free Cash Flow per Basic Share
849.03
1,156.69
-1,097.17
957.53
-1,229.61
-1,508.66
-85.04
-1,328.42
-4,824.72
1,205.99
-1,974.3
-3,681.11
10,480.43
6,573.15
Dividend per Share
132.53
162.87
239.01
144.35
95.27
166.92
189.27
109.19
417
610.22
500.21
499.91
999.5
- -
Book Value per Share
3,944.17
8,616.35
9,437.99
8,876.11
9,046.1
9,241.02
10,421.12
11,949.91
21,203.6
21,229.02
21,634.69
27,719.56
27,825.67
31,027.23
Tangible Book Value per Share
3,814.98
8,487.74
9,311.62
8,805.83
8,972.22
8,555.04
9,743.93
11,343.43
18,248.71
18,398.45
15,010.57
21,397.36
23,518.43
26,722.27
Basic Weighted Avg Shares
30
31
35
34
33
33
33
65
41
41
41
41
41
41
Sales/Revenue/Turnover
296,488
329,233
297,143
311,218
312,227
502,208
799,391
969,067
1,195,036
1,374,893
1,520,162
3,072,529
2,931,649
2,777,282
Operating Margin (%)
11.94
20.9
12.26
-7.61
11.34
6.53
7.52
10.07
8.46
3.06
6.85
8.32
10.93
10.66
Depreciation Expense
12,991
12,557
13,342
14,991
14,405
15,378
21,483
29,348
38,180
65,581
75,762
164,737
167,945
151,032
Net Income, GAAP
26,861
57,143
21,364
-17,270
38,947
5,924
31,908
30,867
66,200
1,907
19,381
142,294
34,701
4,327
Effective Tax Rate (%)
10.66
7.34
17.12
- -
6.95
- -
12.99
41.87
27.38
221.77
21.27
16.36
25.5
45.2
Profit Margin (%)
9.06
17.36
7.19
-5.55
12.47
1.18
3.99
3.19
5.54
0.14
1.27
4.63
1.18
0.16
Working Capital
11,897
180,256
195,713
148,538
134,930
160,927
112,899
214,969
500,250
387,379
-63,241
347,426
513,558
632,180
LT Debt
5,996
9,800
6,324
1,577
- -
56,703
45,106
93,990
234,199
207,856
431,641
871,316
782,669
788,756
Total Equity
136,184
297,504
325,684
298,629
301,878
318,515
369,834
443,529
943,776
927,607
943,923
1,200,265
1,201,673
1,339,496
Return on Invested Capital (%)
- -
23.84
9.09
- -
10.18
- -
9.53
8.67
6.97
-3.65
4.94
9.4
9.34
6.36
Return on Capital (%)
- -
22.21
6.66
- -
12.35
- -
7.01
5.16
7.14
-0.51
2.87
8.8
3.37
1.41
Return on Common Equity (%)
- -
26.35
6.86
-5.54
12.98
1.96
9.92
8.19
10.13
0.22
2.18
13.92
3.02
0.35

Capital Structure

KRW

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
449,861
452,986
443,274
LT Borrowings
567,088
566,316
578,205
LT Finance Leases
215,581
217,338
210,551
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
41
41
41
Market Capitalization
1,723,849
2,469,745
1,763,216

Working Capital

KRW

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
1,641,319
1,826,898
1,904,256
Cash, Cash Equivalents & STI
505,037
476,544
445,009
Accounts Receivable, Net
422,843
545,780
571,530
Inventories
501,636
560,443
610,712
Total Current Liabilities
1,127,762
1,280,386
1,272,076
Payables & Accruals
- -
- -
- -
ST Debt
449,861
452,986
443,274
Deferred Revenue
- -
- -
- -

Growth Rates

KRW

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
17.45%
28.02%
0.12%
Free Cash Flow
197.57%
-111.22%
-384.86%
Net Income, GAAP
133.62%
298.41%
-75.61%
Sales/Revenue/Turnover
29.28%
29.29%
-4.59%
Total Cash Common Dividend
- -
- -
100.04%

Quarterly Revenue

KRW

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
736,699
857,831
805,473
672,526
3,072,529
2025
901,887
650,003
597,021
782,737
2,931,649
2026
711,127
686,396
- -
- -
- -

Quarterly Earnings Per Share

KRW

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-1,029
2,456
1,765
43.74
3,434
2025
2,291
920
1,349.09
-3,721.73
837
2026
1,038.97
1,432
- -
- -
- -

Quarterly Dividends Per Share

KRW

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
499.91
2025
- -
- -
- -
- -
999.5
2026
- -
- -
- -
- -
- -

Company Description

CEO
Seong-Hun Bang
Full Time Employees
98
Sector
Producer manufacturing
Industry
Electrical products
Address
129-12, Dongseo-daero Seoul SL South Korea 06050
IPO Date
Nov 27, 2014
Website
cswind.com
Business
CS Wind Corporation engages in the manufacture and sale of wind power towers and related products, specializing in onshore and offshore wind turbine towers; transition pieces for offshore wind farms; and offshore wind power substructure components. The company operates globally, including manufacturing facilities in Vietnam, China, Canada, the United Kingdom, Turkey, Taiwan, Malaysia, Australia, and the United States. Founded in 2006 and headquartered in Seoul, South Korea, CS Wind is recognized as a leading global supplier of wind towers and related equipment. The company's core product portfolio includes wind power towers for both onshore and offshore applications; offshore wind foundations such as monopiles, jackets, and floating foundations through its subsidiary CS WIND Offshore based in Denmark; and tower internals and component parts like steel and aluminum sections, pressure vessels, heat exchangers, and reactors provided by its subsidiary PNC Global. CS Wind's comprehensive offering extends to manufacturing chemical power plant equipment and services related to offshore wind power substructure construction. In recent years, CS Wind has executed significant strategic expansions and acquisitions to strengthen its market position and product capabilities. In late 2023, CS Wind completed the acquisition of Bladt Industries, a Danish firm specializing in offshore wind foundations, which was renamed CS WIND Offshore to enhance its offshore expertise and product range. Additionally, the company expanded its production capacity with completed offshore wind tower plant expansions in Vietnam and Portugal, increasing annual production to approximately 360,000 tons and enhancing offshore tower diameter capabilities from 8 to 10 meters. In 2024 and 2025, CS Wind secured major supply contracts including a full order for the SunZia project in the U.S. and a significant KRW 37 billion contract with Vestas American Wind Technology. Acquisition of Vestas' Pueblo, Colorado wind tower plant has further enabled CS Wind to fortify its North American presence and comply with local content regulations, supporting its expansion under the U.S. "Buy America" policy. These moves align with the company's broader strategy to capitalize on growth in global wind energy markets and support energy transition initiatives in multiple regions. CS Wind operates primarily within the renewable energy equipment and services industry, targeting wind power developers, turbine manufacturers, and energy infrastructure firms worldwide. Its geographic footprint encompasses Asia, North America, Europe, and emerging markets, supported by an extensive network of production and service facilities. The company maintains a focus on innovation, quality, and sustainability while contributing to large-scale offshore and onshore wind projects internationally. Overall, CS Wind Corporation provides a robust suite of wind power infrastructure products and services, backed by strategic acquisitions, geographic diversification, and expanded manufacturing capabilities to meet growing demand in the global wind energy sector. The company is well-positioned as a key player in the transition to clean energy.