TSE Co., Ltd

TSE Co., Ltd

KKRX:131290
257,000.00
KRW
+2,500.00
(+0.98%)
7,191.54EPS
15.97P/E
1.17TMarket 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
10,771.43
14,295.15
12,149.94
12,378.73
18,178.19
18,052.31
18,745.24
27,290.1
28,921.84
31,420.78
22,666.74
32,415.66
39,558.38
45,624.44
Basic EPS, GAAP
-47
633
173
-1,405
1,377
1,231
1,583
2,598
4,204
4,614
11
3,956
3,526
6,620.12
Free Cash Flow per Basic Share
520.41
1,386.45
-807.24
-793.23
-335.89
629.88
-1,844.01
1,698.27
548.18
344.93
-4,428.1
-49.66
-206.65
-1,608.99
Dividend per Share
- -
- -
- -
- -
- -
- -
199.99
195.27
249.46
492.96
494.77
- -
397.91
- -
Book Value per Share
11,532.06
12,191.62
12,568.46
11,637.12
13,071.54
14,556.59
16,093.63
18,380.01
22,550.16
26,649.36
27,452.87
31,780.74
35,375.28
38,496.42
Tangible Book Value per Share
10,298.45
11,020.77
11,153.99
10,364.2
11,793.65
13,305.44
14,806.73
17,015.32
21,065.37
25,265.1
25,954.43
30,159.08
33,691.57
36,723.19
Basic Weighted Avg Shares
10
10
11
10
10
10
10
10
11
11
11
11
11
11
Sales/Revenue/Turnover
110,667
145,648
132,224
126,712
185,749
184,431
191,490
285,509
307,663
339,264
249,148
348,053
428,901
496,541
Operating Margin (%)
2.85
6.39
0.39
-9.99
12.28
8.04
10.79
14.96
17.76
16.69
-0.96
11.46
11.46
17.73
Depreciation Expense
15,872
16,236
15,455
13,821
13,982
15,215
16,433
17,562
21,379
23,402
26,311
27,673
31,421
32,990
Net Income, GAAP
-483
6,449
1,883
-14,382
14,071
12,576
16,171
27,180
44,721
49,819
121
42,476
38,230
72,048
Effective Tax Rate (%)
80.76
17.32
32.76
- -
12.72
22.54
25.05
21.31
32.58
18.4
- -
18.83
15.98
18.65
Profit Margin (%)
-0.44
4.43
1.42
-11.35
7.58
6.82
8.44
9.52
14.54
14.68
0.05
12.2
8.91
14.51
Working Capital
42,029
52,490
66,436
52,325
62,193
75,020
76,817
86,976
116,597
156,663
142,013
174,142
198,377
246,108
LT Debt
11,683
8,516
1,563
4,344
8,300
6,600
4,622
6,656
8,107
8,984
10,000
2,087
6,340
6,425
Total Equity
125,003
132,722
154,806
142,835
160,302
178,245
194,825
224,917
270,179
330,776
347,824
399,699
464,564
517,133
Return on Invested Capital (%)
0.39
4.9
0.21
- -
11.53
5.95
7.2
13.71
12.61
13.26
- -
7.76
8.63
14.3
Return on Capital (%)
-0.13
3.97
1.22
- -
6.95
6.73
7.9
10.42
16.49
14.06
- -
10.1
8.11
13.61
Return on Common Equity (%)
-0.4
5.34
1.47
-11.48
11.15
8.91
10.33
15.12
20.55
18.8
0.04
13.36
10.42
18.82

Capital Structure

KRW

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
39,121
38,711
39,040
LT Borrowings
3,600
4,800
4,800
LT Finance Leases
1,702
1,540
1,625
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
11
11
11
Market Capitalization
574,868
637,138
1,169,193

Working Capital

KRW

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
264,962
310,646
373,758
Cash, Cash Equivalents & STI
63,352
93,832
71,142
Accounts Receivable, Net
103,219
107,724
157,850
Inventories
82,911
91,165
119,805
Total Current Liabilities
99,147
112,270
127,650
Payables & Accruals
- -
- -
- -
ST Debt
39,121
38,711
39,040
Deferred Revenue
- -
- -
- -

Growth Rates

KRW

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
11.93%
15.77%
16.23%
Free Cash Flow
-222.87%
-257.77%
320.24%
Net Income, GAAP
3,402.12%
6,999.37%
-10%
Sales/Revenue/Turnover
14.9%
10.88%
23.23%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

KRW

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
58,211
76,049
110,676
103,118
348,053
2025
83,031
117,614
104,399
123,856
428,901
2026
150,671
- -
- -
- -
- -

Quarterly Earnings Per Share

KRW

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-46
746
1,192
2,051.08
3,956
2025
288
393.95
1,057.53
1,786.35
3,526
2026
3,337.84
- -
- -
- -
- -

Quarterly Dividends Per Share

KRW

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
397.91
2026
- -
- -
- -
- -
- -

Company Description

Full Time Employees
985
Sector
Electronic technology
Industry
Semiconductors
Address
Cheonan South Korea
IPO Date
Jan 5, 2011
Website
tse21.com
Business
TSE Co., Ltd. is a South Korea-based technology company that specializes in the research, development, manufacture, and distribution of semiconductor test interface solutions and display inspection systems. Founded in 1994 and headquartered in Cheonan-si, Chungcheongnam-do, South Korea, the company operates primarily across the semiconductor back-end testing and flat panel display manufacturing sectors, serving major integrated device manufacturers (IDMs), outsourced semiconductor assembly and test (OSAT) providers, and fabless semiconductor companies across South Korea, broader Asia, North America, and Europe. The company organizes its business operations into two principal divisions: Semiconductor Test Solutions and Display Inspection Systems. The Semiconductor Test Solutions division manufactures critical interface hardware used to evaluate the electrical characteristics and reliability of integrated circuits during wafer-level and final package testing stages. Its primary product lines include probe cards, featuring advanced MEMS-based vertical probe cards, high-pin-count High-Bandwidth Memory (HBM) probe cards, space transformers, and memory and system-on-chip (SoC) wafer test cards; test sockets, comprising high-frequency elastomer sockets, MEMS rubber contact sockets, coaxial spring pin sockets, and logic test contactors for high-speed package testing; and test interface boards (TIB), encompassing multi-layer load boards, burn-in boards, and interface boards connecting automatic test equipment (ATE) to semiconductor devices under test. The Display Inspection Systems division designs and manufactures automated optical and electrical test equipment, including organic light-emitting diode (OLED) and light-emitting diode (LED) inspection systems, array testing equipment, and precision optical measurement instruments. In recent operational and strategic developments, TSE Co., Ltd. has significantly expanded its high-performance semiconductor test portfolio to capitalize on accelerated demand from artificial intelligence (AI) and high-performance computing (HPC) markets. The company completed development and successfully passed customer qualification evaluations for its proprietary ultra-high-density HBM probe cards with major memory manufacturers, implementing advanced micro-pin alignment technology capable of supporting high pin counts. Furthermore, TSE Co., Ltd. has scaled up its non-memory test socket and interface board offerings to diversify its revenue streams into automotive and logic semiconductor testing. The company has also been designated as an anchor enterprise within the Cheonan-Asan semiconductor back-end packaging and test specialized cluster in South Korea, while continuously strengthening internal vertical integration across printed circuit board manufacturing and precision component fabrication to enhance cost efficiency and streamline production lead times.