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Rents and services water/air purifiers, mattresses and other home appliances via a subscription model.
Rents and services water/air purifiers, mattresses and other home appliances via a subscription model.
Customers pay a monthly rental that includes regular filter changes and servicing by visiting technicians, so income recurs for as long as they keep the product rather than buying outright. Korea carries most of the business, with Malaysia the main overseas market.
In one line: A subscription-appliance company, part Culligan part rental furniture.
Moat: narrow (distribution, installed base, brand). Large in-home service/rental network and installed base are costly for rivals to replicate.
Headquarters: Seoul, South Korea · Founded: 1989 · Employees: 6,352
Size Coway (021240.KS) is a South Korea Consumer Discretionary company (Electronics/Appliances) with a market value of $5.56B, the 72nd largest of 495 South Korea companies the cockpit tracks. Shares closed at ₩107,600 on 6 Nov 2026.
Performance Over six months the shares gained 25.9%, against +9.7% for the median peer and -24.5% for the South Korea market (cap-weighted) — 4th highest of 21 in its peer set.
Growth Revenue grew 13.8% over the last twelve months (peer median +3.8%); the operating margin is 18.0% (peer median 7.9%).
Valuation It trades at 10.8× forward earnings against a peer median of 18.1× (cheapest of 21).
Capital Return on invested capital runs 5.9 points above its cost of capital (5.2% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₩5.30T | ₩4.96T | ₩4.31T | ₩3.97T | ₩3.86T |
| Revenue growth | — | +15% | +9% | +3% | — |
| Gross profit | ₩3.18T | ₩2.98T | ₩2.59T | ₩2.38T | ₩2.27T |
| EBITDA | ₩1.36T | ₩1.32T | ₩1.24T | ₩1.20T | ₩1.21T |
| Net income | ₩684B | ₩618B | ₩566B | ₩471B | ₩458B |
| Free cash flow | -₩291B | -₩255B | ₩36.4B | ₩152B | -₩123B |
| Capital expenditure | ₩219B | ₩237B | ₩249B | ₩265B | ₩285B |
| Total debt | ₩2.67T | ₩2.17T | ₩1.48T | ₩1.35T | ₩1.19T |
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 |
|---|---|---|---|---|---|---|
| Coway 021240.KS | $5.56B | +26% | +14% | 18% | 10.8× | n/a |
| Lgelectronics 066570.KS | $17.3B | -2% | +8% | 4% | 11.3× | -4.5% |
| Cuckoo Homesys 284740.KS | $389M | -3% | +3% | 16% | n/a | -19.9% |
| SamsungElec 005930.KS | $886B | -14% | +88% | 46% | 4.0× | -7.2% |
| Sharp 6753.T | $2.18B | -5% | -12% | 2% | 12.0× | 1.2% |
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 | 021240.KS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +5.3% | +2.4% | 10th highest of 21 |
| 6-month return | +25.9% | +9.7% | 4th highest of 21 |
| Distance from 52-week high | -3.8% | -14.2% | 3rd highest of 21 |
| Revenue growth (TTM) | +13.8% | +3.8% | 6th highest of 21 |
| Operating margin | 18.0% | 7.9% | 2nd highest of 21 |
| Forward P/E | 10.8× | 18.1× | cheapest of 21 |
| ROIC minus cost of capital | +5.9 pp | +3.7 pp | 9th highest of 21 |
| EV / EBITDA | 7.4× | 13.6× | 2nd cheapest of 9 |
| Net debt / EBITDA | 1.9× | -0.1× | 4th most indebted of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Coway 021240.KS | South Korea | $5.56B | +26% | +14% | 18% | 10.8× | n/a | n/a |
| Zhejiang Supor 002032.SZ | China | $5.37B | -4% | 0% | 10% | 18.0× | -2.8% | +4.1% |
| Aditya Infotech CPPLUS.NS | India | $5.37B | +68% | +36% | 13% | 69.9× | n/a | n/a |
| Hisense Visual Technology 600060.SS | China | $5.31B | +8% | -2% | 5% | 12.8× | -3.4% | +8.0% |
| Beijing Roborock Technology 688169.SS | China | $5.29B | +17% | +31% | 8% | 17.3× | 4.6% | +32.8% |
| TCL Electronics 1070.HK | Hong Kong | $6.01B | +3% | +14% | 3% | 12.4× | -2.3% | +17.6% |
| Howden Joinery HWDN.L | United Kingdom | $6.12B | +16% | +4% | 15% | 16.6× | 14.9% | +9.3% |
| Arashi Vision 688775.SS | China | $6.41B | -45% | +74% | -1% | 135.2× | n/a | n/a |
| Hisense Home Appliances 000921.SZ | China | $4.37B | -2% | -11% | 3% | 14.2× | -11.4% | +12.7% |
| Shenzhen MTC 002429.SZ | China | $4.30B | -42% | +3% | 7% | 22.1× | n/a | n/a |
| Ecovacs Robotics 603486.SS | China | $4.22B | -25% | +10% | 7% | 14.5× | 16.2% | +21.4% |
| De'Longhi DLG.MI | Italy | $7.65B | +23% | +6% | 13% | 18.0× | 14.2% | +10.1% |
| Seb SK.PA | France | $3.55B | +8% | -1% | 8% | 12.1× | -0.8% | +3.3% |
| Breville BRG.AX | Australia | $3.33B | +13% | +7% | 11% | 31.1× | 26.4% | +8.8% |
| Nikon 7731.T | Japan | $3.17B | -12% | -4% | -2% | 45.4× | n/a | n/a |
| Joyoung 002242.SZ | China | $2.87B | +131% | -7% | -1% | 159.7× | n/a | n/a |
| Kingclean Electric 603355.SS | China | $2.79B | +4% | -2% | 8% | 35.9× | 4.4% | +9.4% |
| Casio Computer 6952.T | Japan | $2.74B | +24% | +12% | 11% | 15.9× | 0.2% | +4.0% |
| IMAX IMAX | United States | $2.61B | +35% | +15% | 23% | 18.8× | 12.2% | +24.5% |
| Electrolux ELUX-A.ST | Sweden | $2.50B | +11% | -3% | -1% | 18.1× | 1.2% | +2.6% |
| LG Electronics India LGEINDIA.NS | India | $12.6B | +14% | +1% | 9% | 52.1× | 36.6% | +7.3% |