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OCI Holdings010060.KSCompetitor analysis, valuation and peers

South Korea · KRW·Financials›Chemicals: Specialty

Korean chemicals holding group — polysilicon for solar panels, plus petrochemicals (carbon black, TDI) and renewable-power projects.

Momentum neutral 44
Competitor Analysis ▸ ChartsOpen in the cockpit
Mkt cap
$2.73B
US dollars, full cap
Free float
69%
of shares outstanding
$/day
$44.9M
20-day average traded
Fwd P/E
40.1×
forward earnings
ROIC−WACC
n/a
WACC 7.3%
Hurdle
n/a
no reverse DCF
Next earnings
95 days
9 Feb 2027
Close · KRW₩199,900
1D-2.0%
1W+20.0%
1M-16.7%
3M-11.2%
6M-45.7%
YTD+73.5%
1Y+72.3%
ATR %9.3%
52w lowhigh51.7% off high

What OCI does

Korean chemicals holding group — polysilicon for solar panels, plus petrochemicals (carbon black, TDI) and renewable-power projects.

Sells polysilicon at market prices, which swing hard with solar-industry supply, so earnings depend on how much capacity Chinese producers add. Most of its polysilicon is made in Malaysia, which suits buyers who want non-Chinese supply. Carbon black and other petrochemicals add a separate stream tied to tire and industrial demand.

Products and services

  • Polysilicon (solar-grade)
  • Carbon black/TDI petrochemicals
  • Solar power plant investments
  • Pharma/biotech investments

Customers

  • Solar wafer/module makers
  • Tire/rubber makers (carbon black)

Where it sits in the supply chain

  • Chemicals/materials conglomerate
  • Polysilicon + petrochemicals
  • Solar/renewable power investment

What could go right

  • Solar polysilicon demand outside China
  • Petrochemical margin recovery

What could go wrong

  • Chinese polysilicon oversupply/pricing
  • Petrochemical cycle downturns

Moat: narrow (scale, process know-how). One of few non-Chinese polysilicon producers at meaningful global scale.

Headquarters: Seoul, South Korea · Founded: 1959 · Employees: 67

Named competitors

OCI at a glance

Size OCI (010060.KS) is a South Korea Financials company (Chemicals: Specialty) with a market value of $2.73B, the 105th largest of 495 South Korea companies the cockpit tracks. Shares closed at ₩199,900 on 6 Nov 2026.

Performance Over six months the shares fell 45.7%, against -20.2% for the median peer and -24.5% for the South Korea market (cap-weighted) — 5th lowest of 21 in its peer set.

Growth Revenue grew 10.7% over the last twelve months (peer median +10.8%); the operating margin is 5.7% (peer median 13.1%).

Valuation It trades at 40.1× forward earnings against a peer median of 5.3× (most expensive of 20).

Next results Next results expected around 9 Feb 2027 (exchange calendar; dates can move).

Relative performance

608010011 May 202611 Aug 20266 Nov 2026Peer median 80010060.KS 56
Six months, rebased to 100: OCI against the median of its 20 peers (local-currency closes).

OCI financials

Reported figures in KRW; fiscal year ends 2025-12-31. TTM = trailing twelve months.
TTMFY2025FY2024FY2023FY2022
Revenue₩3.79T₩3.38T₩3.58T₩2.65T₩2.77T
Revenue growth—-6%+35%-4%—
Gross profitn/a₩317B₩446B₩703B₩891B
EBITDAn/a₩186B₩296B₩628B₩850B
Net income₩46.7B-₩89.9B₩97.7B₩491B₩880B
Free cash flown/a₩183B-₩240B₩522B₩336B
Capital expendituren/a₩373B₩360B₩158B₩234B
Total debtn/a₩1.94T₩2.00T₩1.47T₩1.89T

Quarterly statements and history in the cockpit →

OCI competitor charts

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.

Performance: 6-month against 1-month return

-50%-25%0%+25%-20%-10%0%138930001450031210029780088350039490175330085620139130003690089860279570016360071050004800005940005830323410006800023590010060.KS6-month return →1-month return →
Up and to the right = strong over both horizons. OCI is the large dot.

Fundamentals: revenue growth against valuation

0%+50%+100%+150%0×20×40×138930001450031210029780088350039490085620089860279570071050005940005830010060.KSRevenue growth (TTM) →Forward P/E →
Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. OCI is the large dot.

OCI competitors and peer comparison

Head to head with its named competitors (010060.KS vs 009830.KS vs WCH.DE vs 3800.HK)
CompanyMarket cap6M returnRevenue growthOp. marginForward P/EReq g
OCI 010060.KS$2.73B-46%+11%6%40.1×n/a
Hanwha Solutions 009830.KS$4.30B-49%+14%0%20.1×n/a
Wacker Chemie WCH.DE$4.42B-24%-5%-1%33.0×n/a
GCL Technology 3800.HK$2.71B-30%+25%-22%n/an/a
Tokuyama 4043.T$1.63B-11%+7%9%5.8×1.1%

How OCI compares with its peers

Peer set: Sector in the same market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.

OCI against its 20 peers (data as of 6 Nov 2026)
Measure010060.KSPeer medianRank in peer set
1-month return-16.7%-14.6%9th lowest of 21
6-month return-45.7%-20.2%5th lowest of 21
Distance from 52-week high-51.7%-43.4%7th lowest of 21
Revenue growth (TTM)+10.7%+10.8%11th highest of 21
Operating margin5.7%13.1%6th lowest of 21
Forward P/E40.1×5.3×most expensive of 20

Peer table

Peer set: Sector in the same market, nearest in size
CompanyMarketMarket cap6M returnRevenue growthOp. marginForward P/EReq gDelivered g
OCI 010060.KSSouth Korea$2.73B-46%+11%6%40.1×n/an/a
BNK Financial 138930.KSSouth Korea$2.88B-31%+10%9%5.2×n/an/a
Hyundai M&F INS 001450.KSSouth Korea$2.29B+38%-5%3%3.4×n/an/a
Seoul Guarantee Insurance 031210.KSSouth Korea$2.26B-8%+14%15%12.2×n/an/a
Samsung Card 029780.KSSouth Korea$3.30B-21%+11%33%7.9×n/an/a
Hanwha Life 088350.KSSouth Korea$2.16B-20%+18%2%4.7×n/an/a
Kiwoom 039490.KSSouth Korea$3.48B-53%+100%41%2.9×n/an/a
JB Financial 175330.KSSouth Korea$3.67B0%+9%22%6.8×n/an/a
Mirae Asset Life Insurance 085620.KSSouth Korea$1.78B+17%+22%-1%19.9×n/an/a
iM Financial 139130.KSSouth Korea$1.76B-20%+24%9%5.3×n/an/a
Korean Reinsurance 003690.KSSouth Korea$1.74B+8%-2%5%5.2×n/an/a
LOTTE rental 089860.KSSouth Korea$1.56B+74%+4%11%15.4×n/an/a
K Bank 279570.KSSouth Korea$1.53B-18%0%9%17.2×n/an/a
SamsungSecu 016360.KSSouth Korea$4.87B-31%+19%71%4.0×n/an/a
KIH 071050.KSSouth Korea$5.15B-49%+100%51%2.4×n/an/a
Hyosung 004800.KSSouth Korea$1.42B-49%+10%15%6.2×n/an/a
NHIS 005940.KSSouth Korea$6.46B-32%+156%34%5.2×n/an/a
Db Insurance 005830.KSSouth Korea$6.90B+2%-14%4%6.2×n/an/a
KakaoBank 323410.KSSouth Korea$7.28B-15%+6%21%16.5×n/an/a
Mirae Asset Sec 006800.KSSouth Korea$7.57B-66%+5%114%4.0×n/an/a
DAOU TECHNOLOGY 023590.KSSouth Korea$919M-35%+134%6%n/an/an/a

Questions

Who are OCI's main competitors?
Named competitors: Hanwha Solutions (Qcells) (009830.KS), Wacker Chemie (WCH.DE), GCL Technology (3800.HK), Tokuyama (4043.T). The cockpit's measured peer set (sector in the same market, nearest in size) also includes BNK Financial (138930.KS), Hyundai M&F INS (001450.KS), Seoul Guarantee Insurance (031210.KS), Samsung Card (029780.KS), Hanwha Life (088350.KS), Kiwoom (039490.KS).
Is OCI expensive compared with its peers?
On forward p/e it trades at 40.1× against a peer median of 5.3×, most expensive of 20 in its peer set.
How has OCI stock performed?
Over six months to 6 Nov 2026 the shares returned -45.7% against -20.2% for the median peer; over one year +72.3%.

How these numbers are made. Returns are close-to-close in local currency. Revenue growth and margins are trailing twelve months. Req g is the revenue growth that today's enterprise value requires for seven years at the company's own cost of capital; Delivered g is what it actually grew; the gap is the hurdle (honest precision about ±8 points, so read the ranking more than the decimal). No fair values, price targets or analyst ratings are shown, by design. Method and validation.