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Korean Tier-1 auto-parts maker specializing in vehicle lighting (headlamps, taillamps) for Hyundai/Kia and other automakers.
Korean Tier-1 auto-parts maker specializing in vehicle lighting (headlamps, taillamps) for Hyundai/Kia and other automakers.
Wins business platform by platform when Hyundai or Kia chooses a lighting supplier for a new model, then supplies it for the model's life. It runs plants near the automakers' overseas assembly sites, including the US and Mexico, so output follows their global vehicle production.
Moat: narrow (customer qualification, switching costs). Qualified lighting supplier on Hyundai/Kia platforms; re-sourcing lighting mid-cycle is costly.
Headquarters: Daegu, South Korea · Founded: 1954 · Employees: 4,881
Size Slcorp (005850.KS) is a South Korea Consumer Discretionary company (Auto Parts: OEM) with a market value of $1.54B, the 163rd largest of 495 South Korea companies the cockpit tracks. Shares closed at ₩47,050 on 6 Nov 2026.
Performance Over six months the shares fell 25.2%, against -17.6% for the median peer and -24.5% for the South Korea market (cap-weighted) — 8th lowest of 21 in its peer set.
Growth Revenue grew 10.3% over the last twelve months (peer median +7.4%); the operating margin is 8.3% (peer median 4.8%).
Valuation It trades at 5.7× forward earnings against a peer median of 13.4× (cheapest of 19).
Price implies For today's price to make sense, revenue must grow about -20% a year for seven years (Req g). Recent delivered growth is +16%, so the hurdle is -36 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 7.9 points above its cost of capital (7.1% WACC).
Next results Next results expected around 18 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₩5.47T | ₩5.24T | ₩4.97T | ₩4.84T | ₩4.17T |
| Revenue growth | — | +5% | +3% | +16% | — |
| Gross profit | ₩788B | ₩722B | ₩678B | ₩629B | ₩458B |
| EBITDA | ₩616B | ₩569B | ₩557B | ₩538B | ₩336B |
| Net income | ₩381B | ₩311B | ₩368B | ₩336B | ₩155B |
| Free cash flow | ₩356B | ₩320B | ₩235B | ₩271B | ₩11.6B |
| Capital expenditure | ₩227B | ₩201B | ₩253B | ₩167B | ₩165B |
| Total debt | ₩378B | ₩308B | ₩323B | ₩363B | ₩434B |
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 |
|---|---|---|---|---|---|---|
| Slcorp 005850.KS | $1.54B | -25% | +10% | 8% | 5.7× | -19.7% |
| Hl Mando 204320.KS | $1.13B | -43% | +2% | 3% | 9.6× | -19.9% |
| Koito Manufacturing 7276.T | $4.27B | -6% | +6% | 6% | 13.3× | -0.8% |
| Varroc Engineering VARROC.NS | $1.28B | +40% | +22% | 6% | 31.5× | 29.9% |
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 | 005850.KS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -7.6% | -4.5% | 5th lowest of 21 |
| 6-month return | -25.2% | -17.6% | 8th lowest of 21 |
| Distance from 52-week high | -40.8% | -43.3% | 10th highest of 21 |
| Revenue growth (TTM) | +10.3% | +7.4% | 10th highest of 21 |
| Operating margin | 8.3% | 4.8% | 9th highest of 21 |
| Forward P/E | 5.7× | 13.4× | cheapest of 19 |
| Growth the price implies (Req g, 7 yrs) | -19.7% | -4.6% | least demanding of 16 |
| Growth delivered (Del g) | +15.9% | +8.9% | 5th highest of 16 |
| Hurdle (Req g minus delivered) | -35.6 pp | -12.6 pp | 2nd least demanding of 16 |
| ROIC minus cost of capital | +7.9 pp | +0.3 pp | highest of 21 |
| EV / EBITDA | 2.4× | 6.2× | 3rd cheapest of 13 |
| Net debt / EBITDA | -1.1× | 1.0× | 2nd least indebted of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Slcorp 005850.KS | South Korea | $1.54B | -25% | +10% | 8% | 5.7× | -19.7% | +15.9% |
| Gentherm THRM | United States | $1.55B | -7% | +9% | 5% | 9.8× | 21.7% | +10.4% |
| Johnson Electric 0179.HK | Hong Kong | $1.56B | -53% | 0% | 8% | 10.8× | -16.4% | +3.1% |
| OPmobility OPM.PA | France | $1.51B | -42% | -3% | 4% | 8.2× | -8.1% | +7.6% |
| Tokai Rika 6995.T | Japan | $1.57B | 0% | +5% | 5% | 9.9× | -4.6% | +7.9% |
| Dn Automotive 007340.KS | South Korea | $1.46B | -20% | +17% | 15% | n/a | -16.2% | +35.6% |
| CIE Automotive India CIEINDIA.NS | India | $1.42B | -26% | +12% | 11% | 12.2× | 8.6% | +9.2% |
| SEDEMAC Mechatronics SEDEMAC.NS | India | $1.42B | +56% | +61% | 15% | 73.8× | n/a | n/a |
| Lingyun Industrial 600480.SS | China | $1.41B | -25% | +3% | 5% | 17.1× | -12.3% | +8.0% |
| Lumax Auto Technologies LUMAXTECH.NS | India | $1.68B | +36% | +33% | 10% | 37.2× | 34.9% | +34.5% |
| Nexteer Automotive 1316.HK | Hong Kong | $1.40B | -14% | +6% | 4% | 8.5× | -13.5% | +8.7% |
| Zhuzhou Times New Materials Technology 600458.SS | China | $1.39B | -17% | +1% | 2% | 14.7× | n/a | n/a |
| Ningbo Zhongda Leader Intelligent Transmission 002896.SZ | China | $1.69B | -18% | +22% | 4% | 132.1× | n/a | n/a |
| Tong Yang Industry 1319.TW | Taiwan | $1.35B | -1% | -12% | 15% | 10.9× | -5.9% | +7.7% |
| Jiangsu Bojun Industrial Technology 300926.SZ | China | $1.35B | -31% | +54% | 13% | 9.0× | n/a | n/a |
| Gestamp Automocion GEST.MC | Spain | $1.77B | -13% | -3% | 5% | 7.3× | -5.7% | +8.8% |
| Kunshan Huguang Auto Harness 605333.SS | China | $1.32B | -16% | -2% | 2% | 31.8× | n/a | n/a |
| Zhejiang Shibao 1057.HK | Hong Kong | $1.32B | -33% | +22% | 4% | n/a | 26.8% | +25.6% |
| Wuxi Best Precision Machinery 300580.SZ | China | $1.32B | -40% | +12% | 16% | 29.4× | 20.8% | +10.1% |
| Shuanglin 300100.SZ | China | $1.80B | -27% | -11% | 4% | 32.6× | 25.5% | +8.9% |
| Minda MINDACORP.NS | India | $1.80B | +33% | +33% | 8% | 37.6× | 32.0% | +21.3% |