Starflex Co., Ltd

Starflex Co., Ltd

KKRX:115570
2,440.00
KRW
-20.00
(-0.81%)
910.06EPS
3.13P/E
22.45BMarket 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
18,908.42
15,816.45
13,880.93
13,700.16
13,682.67
14,958.03
14,573.06
9,618.71
10,892.84
13,191.01
8,959.41
10,154.75
12,516.04
12,703.18
Basic EPS, GAAP
208
42
-372
1,103
-1,039
845
-987
-967
677
830
-1,868
589
440
910.06
Free Cash Flow per Basic Share
2,610.08
-29.58
2,404.4
-585.63
-2,851.21
-978.12
-1,102.73
-526.39
-848.41
1,872.22
75.47
272.85
-250.17
904.15
Dividend per Share
72.94
191.11
- -
- -
80.02
34.01
99.93
71.85
- -
- -
- -
- -
- -
- -
Book Value per Share
11,994.49
11,565.23
11,059.04
11,610.51
10,365.02
11,195.23
10,138.03
8,480.04
9,025.38
9,869.65
8,003.72
8,429.18
9,028.6
9,363.08
Tangible Book Value per Share
11,976.65
11,548.21
11,042.54
11,595.63
10,350.13
11,180.35
10,123.14
8,467.58
9,013.38
9,857.66
7,991.72
8,417.18
9,028.6
9,363.08
Basic Weighted Avg Shares
5
6
6
6
6
6
6
7
8
8
8
8
8
8
Sales/Revenue/Turnover
100,141
87,819
79,180
85,306
86,988
95,097
92,737
68,107
84,992
104,073
70,701
80,151
98,655
100,228
Operating Margin (%)
6.16
6.25
10.04
10.59
2.99
0.39
1.44
-6.44
-4.41
3.81
-4.82
-0.2
6.71
6.86
Depreciation Expense
2,585
2,532
2,480
2,465
3,097
3,588
3,694
3,265
3,813
4,272
4,391
3,116
3,262
3,295
Net Income, GAAP
1,102
233
-2,122
6,868
-6,605
5,372
-6,281
-6,847
5,282
6,548
-14,741
4,649
3,468
7,180
Effective Tax Rate (%)
104.62
- -
- -
11.22
- -
- -
- -
- -
- -
- -
- -
3.36
- -
- -
Profit Margin (%)
1.1
0.27
-2.68
8.05
-7.59
5.65
-6.77
-10.05
6.22
6.29
-20.85
5.8
3.52
7.16
Working Capital
-24,613
-23,990
-17,737
-14,014
-19,736
-13,316
1,711
-2,831
6,458
13,835
13,366
17,248
25,625
27,926
LT Debt
19,337
15,922
7,023
2,600
7,972
7,760
26,234
6,946
38
56
28
6
45
38
Total Equity
58,761
57,953
54,454
64,224
54,255
60,688
54,034
54,031
71,218
77,868
63,144
66,506
71,236
73,875
Return on Invested Capital (%)
-0.22
- -
- -
8.13
- -
- -
- -
- -
- -
- -
- -
-0.2
- -
- -
Return on Capital (%)
1.67
- -
- -
7.96
- -
- -
- -
- -
- -
- -
- -
6.58
- -
- -
Return on Common Equity (%)
1.8
0.36
-3.32
10.01
-9.45
7.84
-9.26
-10.63
7.79
8.78
-20.91
7.17
5.04
10.21

Capital Structure

KRW

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
18,579
17,961
15,631
LT Borrowings
- -
- -
- -
LT Finance Leases
53
45
38
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
8
8
8
Market Capitalization
22,763
25,879
22,447

Working Capital

KRW

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
48,236
51,504
51,753
Cash, Cash Equivalents & STI
2,977
4,143
7,425
Accounts Receivable, Net
15,508
17,331
17,402
Inventories
27,340
28,302
23,740
Total Current Liabilities
25,830
25,878
23,827
Payables & Accruals
- -
- -
- -
ST Debt
18,579
17,961
15,631
Deferred Revenue
- -
- -
- -

Growth Rates

KRW

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
3.8%
6.94%
7.11%
Free Cash Flow
-10.07%
-54.29%
-191.56%
Net Income, GAAP
-164.43%
-127.04%
-25.4%
Sales/Revenue/Turnover
4.16%
10.33%
23.09%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

KRW

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
18,261
22,510
20,219
19,160
80,151
2025
22,986
25,857
24,108
25,705
98,655
2026
24,559
- -
- -
- -
- -

Quarterly Earnings Per Share

KRW

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
4
235
-77
427.24
589
2025
101
-630.07
537.82
431.28
440
2026
571.03
- -
- -
- -
- -

Quarterly Dividends Per Share

KRW

•

in mil. unless spec.

Year

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

Company Description

CEO
Min-Pyo Kang
Full Time Employees
118
Sector
Producer manufacturing
Industry
Miscellaneous manufacturing
Address
Eumseong-gun South Korea
IPO Date
Jan 27, 2010
Business
Starflex Co., Ltd. is a South Korea-based manufacturing company that specializes in the development, production, and distribution of flexible PVC substrates, technical textiles, and visual communication materials for the global advertising, sign, and industrial fabrics sectors. Founded in 1985 and headquartered in Eumseong-gun, Chungcheongbuk-do, South Korea, the company supplies engineered media solutions designed for large-format digital printing, outdoor billboards, indoor illuminated displays, building wraps, vehicle graphics, and commercial coverings. The company manufactures and markets its comprehensive product portfolio through systematic product lines under its flagship STARFLEX and STARTEC brand names: digital printing flex substrates, including frontlit flex, backlit flex, blockout banners, mesh media, solit non-curling display sheets, and coated flex materials engineered for solvent, eco-solvent, UV-curable, and latex printing systems; self-adhesive films and specialty graphic media, comprising printable self-adhesive vinyl, polymeric and monomeric films, protective over-laminates, and adhesive mounting sheets; rigid boards and display textiles, consisting of lightweight PVC foam sheets, flag fabrics, and synthetic printable textiles; industrial and construction tarpaulins, encompassing heavy-duty PVC-laminated and knife-coated tarpaulins for commercial transport covers, inflatable structures, tents, and roofing membranes; and commercial illumination systems, including energy-efficient LED modules, power units, and lighting components marketed under the STARTEC brand. Starflex serves a diversified commercial client base comprising digital print service providers, sign fabricators, graphic distributors, and industrial contractors across North America, Europe, Latin America, the Middle East, and the Asia-Pacific region. In recent strategic and operational developments, Starflex Co., Ltd. has focused on expanding its sustainable product lines to align with rigorous global environmental standards and chemical regulations. The company has introduced an expanded lineup of eco-friendly, phthalate-free, and cadmium-free banner substrates compliant with European REACH standards, engineered to reduce emissions and environmental impact during indoor and outdoor promotional campaigns. In addition, Starflex has optimized the coating and lamination lines at its central Eumseong production complex to enhance output efficiency and strengthen quality controls across wide-format rolls. The company has also deepened its international distribution partnerships in core export markets to expand the penetration of high-performance media tailored for modern latex and UV digital printing technologies while proactively managing global supply chain dynamics and raw material costs.