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Korea's second-largest integrated steelmaker, part of Hyundai Motor Group, producing flat and long steel products including auto-grade sheet.
Korea's second-largest integrated steelmaker, part of Hyundai Motor Group, producing flat and long steel products including auto-grade sheet.
Buys iron ore and coking coal and, on the electric-furnace route, scrap, so profit depends on the spread between steel prices and raw-material costs. Sales to Hyundai Motor Group affiliates give a base of demand.
In one line: Korea's Nucor, with a large captive auto-steel business.
Moat: narrow (scale, customer qualification). Guaranteed offtake from affiliate Hyundai/Kia auto plants cushions cyclical steel demand.
Headquarters: Incheon, South Korea · Employees: 11,694
Size Hyundai Steel (004020.KS) is a South Korea Materials company (Steel) with a market value of $2.73B, the 106th largest of 495 South Korea companies the cockpit tracks. Shares closed at ₩28,150 on 6 Nov 2026.
Performance Over six months the shares fell 33.8%, against -24.4% for the median peer and -24.5% for the South Korea market (cap-weighted) — 6th lowest of 20 in its peer set.
Growth Revenue grew 1.6% over the last twelve months (peer median -2.4%); the operating margin is 0.9% (peer median 3.1%).
Valuation It trades at 74.3× forward earnings against a peer median of 16.9× (most expensive of 17).
Price implies For today's price to make sense, revenue must grow about -1% a year for seven years (Req g). Recent delivered growth is +5%, so the hurdle is -6 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 4.5 points below its cost of capital (5.3% WACC).
Next results Next results expected around 28 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₩23.2T | ₩22.7T | ₩23.2T | ₩25.9T | ₩27.3T |
| Revenue growth | — | -2% | -10% | -5% | — |
| Gross profit | n/a | ₩1.54T | ₩1.41T | ₩2.14T | ₩2.89T |
| EBITDA | n/a | ₩1.98T | ₩1.87T | ₩2.44T | ₩3.20T |
| Net income | ₩48.8B | -₩6.92B | -₩11.6B | ₩461B | ₩1.02T |
| Free cash flow | n/a | ₩561B | ₩105B | ₩1.12T | ₩1.16T |
| Capital expenditure | n/a | ₩1.52T | ₩1.69T | ₩830B | ₩1.03T |
| Total debt | n/a | ₩9.91T | ₩10.4T | ₩10.5T | ₩12.3T |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Hyundai Steel 004020.KS | $2.73B | -34% | +2% | 1% | 74.3× | -1.2% |
| POSCO 005490.KS | $14.4B | -42% | +4% | 3% | 11.2× | n/a |
| Nippon Steel 5401.T | $22.3B | +15% | +28% | 4% | 11.2× | n/a |
| Baoshan Iron & Steel 600019.SS | $19.9B | -3% | +6% | 3% | 14.4× | -9.6% |
| Nucor NUE | $55.6B | +8% | +22% | 13% | 10.2× | 12.0% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 004020.KS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -1.1% | -7.4% | 3rd highest of 21 |
| 6-month return | -33.8% | -24.4% | 6th lowest of 20 |
| Distance from 52-week high | -43.9% | -42.3% | 9th lowest of 21 |
| Revenue growth (TTM) | +1.6% | -2.4% | 9th highest of 21 |
| Operating margin | 0.9% | 3.1% | 8th lowest of 21 |
| Forward P/E | 74.3× | 16.9× | most expensive of 17 |
| Growth the price implies (Req g, 7 yrs) | -1.2% | 8.1% | 5th least demanding of 17 |
| Growth delivered (Del g) | +4.8% | +6.6% | 6th lowest of 17 |
| Hurdle (Req g minus delivered) | -5.9 pp | +1.6 pp | 5th least demanding of 17 |
| ROIC minus cost of capital | -4.5 pp | -2.3 pp | 7th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Hyundai Steel 004020.KS | South Korea | $2.73B | -34% | +2% | 1% | 74.3× | -1.2% | +4.8% |
| Hangzhou Iron & Steel 600126.SS | China | $2.73B | -38% | -58% | -1% | n/a | 19.3% | +9.8% |
| Zhejiang Jiuli Hi-Tech Metals 002318.SZ | China | $2.75B | -37% | -38% | 4% | 25.9× | 15.4% | +19.5% |
| Fujian Makeng Mining 601123.SS | China | $2.76B | n/a | -3% | 41% | n/a | 29.1% | -1.0% |
| Shanxi Taigang Stainless Steel 000825.SZ | China | $2.78B | -24% | +1% | -1% | 65.0× | 7.4% | +6.1% |
| Aperam APAM.AS | Netherlands | $2.63B | -32% | -4% | 2% | 13.6× | 12.9% | +10.9% |
| Sims SGM.AX | Australia | $2.62B | -11% | +7% | 4% | 10.5× | 14.6% | +6.2% |
| Yongxing Special Materials Technology 002756.SZ | China | $2.88B | -59% | +30% | 16% | 11.2× | -2.3% | +8.4% |
| HBIS 000709.SZ | China | $2.96B | -16% | -6% | 5% | 12.2× | n/a | n/a |
| Angang Steel 000898.SZ | China | $2.50B | -15% | -6% | -7% | n/a | n/a | n/a |
| Hainan Mining 601969.SS | China | $2.44B | -33% | +29% | 17% | 13.9× | 0.8% | +9.9% |
| Alleima ALLEI.ST | Sweden | $2.32B | +9% | -5% | 7% | 21.5× | 12.9% | +0.4% |
| Maanshan Iron & Steel 600808.SS | China | $2.32B | -41% | -4% | 0% | 38.0× | 0.3% | -1.0% |
| Daido Steel 5471.T | Japan | $2.29B | -4% | +8% | 7% | 10.8× | 8.8% | +7.0% |
| Advanced Technology & Materials 000969.SZ | China | $2.28B | -32% | +37% | 5% | 40.2× | 16.2% | +9.8% |
| Salzgitter SZG.DE | Germany | $3.29B | -14% | -6% | -1% | 10.5× | n/a | n/a |
| TA Chen Stainless Pipe 2027.TW | Taiwan | $3.46B | +21% | +24% | 18% | 8.0× | -10.1% | +11.4% |
| KIOCL KIOCL.NS | India | $2.15B | -18% | +27% | -6% | n/a | n/a | n/a |
| Hunan Valin Steel 000932.SZ | China | $3.49B | -27% | -7% | 1% | 20.0× | 6.4% | +0.9% |
| Beijing Shougang 000959.SZ | China | $3.50B | -34% | -2% | 1% | 27.4× | -9.7% | +5.2% |
| Xinxing Ductile Iron Pipes 000778.SZ | China | $2.05B | -24% | +15% | 2% | 20.5× | -6.9% | -2.8% |