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Korean heavy-equipment maker: power-plant turbines, nuclear reactor components, desalination plants and forgings.
Korean heavy-equipment maker: power-plant turbines, nuclear reactor components, desalination plants and forgings.
Sells large power equipment on long-lead orders, with revenue booked as manufacturing progresses, to utilities such as KEPCO and to overseas developers. It was rescued by state-run creditors in 2020 after a debt crisis, sold non-core units and refocused on power, and has since built its own large gas turbine.
In one line: Korea's Babcock & Wilcox / a nuclear-equipment Mitsubishi Heavy.
Moat: narrow (scale, installed base, regulatory licence). One of few makers qualified for large forgings and nuclear-grade components.
Headquarters: Changwon, South Korea · Founded: 1962 · Employees: 6,233
Size Doosan Enerbility (034020.KS) is a South Korea Industrials company (Trucks/Construction/Farm Machinery) with a market value of $21.1B, the 18th largest of 495 South Korea companies the cockpit tracks. Shares closed at ₩44,700 on 6 Nov 2026.
Performance Over six months the shares fell 64.8%, against -10.8% for the median peer and -24.5% for the South Korea market (cap-weighted) — lowest of 21 in its peer set.
Growth Revenue grew 9.0% over the last twelve months (peer median +13.8%); the operating margin is 5.3% (peer median 13.3%).
Valuation It trades at 82.3× forward earnings against a peer median of 13.2× (most expensive of 21).
Price implies For today's price to make sense, revenue must grow about 23% a year for seven years (Req g). Recent delivered growth is +13%, so the hurdle is +10 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 2.9 points below its cost of capital (8.9% WACC).
Next results Next results expected around 12 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₩18.3T | ₩17.1T | ₩16.2T | ₩17.6T | ₩15.4T |
| Revenue growth | — | +5% | -8% | +14% | — |
| Gross profit | n/a | ₩2.60T | ₩2.61T | ₩2.91T | ₩2.44T |
| EBITDA | n/a | ₩1.26T | ₩1.48T | ₩1.85T | ₩1.56T |
| Net income | ₩246B | ₩84.8B | ₩111B | ₩55.6B | -₩632B |
| Free cash flow | n/a | ₩349B | -₩219B | ₩1.68T | ₩276B |
| Capital expenditure | n/a | ₩698B | ₩654B | ₩603B | ₩545B |
| Total debt | n/a | ₩6.17T | ₩6.31T | ₩5.16T | ₩5.31T |
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 |
|---|---|---|---|---|---|---|
| Doosan Enerbility 034020.KS | $21.1B | -65% | +9% | 5% | 82.3× | 22.7% |
| Mitsubishi Heavy Industries 7011.T | $62.1B | -37% | -3% | 10% | 22.3× | 9.0% |
| GE Vernova GEV | $205B | -26% | +17% | 7% | 32.2× | 24.9% |
| Siemens Energy ENR.DE | $111B | -33% | +9% | 9% | 26.4× | 17.3% |
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 | 034020.KS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -44.5% | -5.3% | lowest of 21 |
| 6-month return | -64.8% | -10.8% | lowest of 21 |
| Distance from 52-week high | -67.9% | -21.0% | 2nd lowest of 21 |
| Revenue growth (TTM) | +9.0% | +13.8% | 8th lowest of 21 |
| Operating margin | 5.3% | 13.3% | lowest of 21 |
| Forward P/E | 82.3× | 13.2× | most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | 22.7% | 2.2% | most demanding of 19 |
| Growth delivered (Del g) | +13.2% | +9.0% | 4th highest of 19 |
| Hurdle (Req g minus delivered) | +9.5 pp | -3.4 pp | 2nd most demanding of 19 |
| ROIC minus cost of capital | -2.9 pp | +6.8 pp | 2nd lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Doosan Enerbility 034020.KS | South Korea | $21.1B | -65% | +9% | 5% | 82.3× | 22.7% | +13.2% |
| Hd Hyundai Heavy Industries 329180.KS | South Korea | $20.3B | -62% | +41% | 15% | 9.5× | -7.0% | +16.2% |
| Sany Heavy Industry 6031.HK | Hong Kong | $24.2B | -27% | +25% | 11% | 12.9× | -1.1% | -2.9% |
| Kubota 6326.T | Japan | $18.2B | 0% | +13% | 11% | 10.0× | 7.5% | +10.3% |
| Wartsila Oyj Abp WRT1V.HE | Finland | $17.1B | -25% | -2% | 13% | 23.5× | 7.2% | +8.5% |
| CRRC 1766.HK | Hong Kong | $26.4B | +4% | +7% | 6% | 9.2× | -2.4% | +3.1% |
| Metso METSO.HE | Finland | $15.8B | +14% | +8% | 15% | 23.6× | 15.3% | +9.6% |
| Epiroc EPI-A.ST | Sweden | $28.6B | -10% | +1% | 19% | 29.3× | 16.5% | +11.4% |
| CNH Industrial CNH | United States | $14.3B | +5% | +1% | 13% | 21.1× | 7.4% | -7.0% |
| Komatsu 6301.T | Japan | $32.2B | -12% | +9% | 13% | 13.1× | 9.5% | +13.6% |
| Yangzijiang Shipbuilding (Holdings) BS6.SI | Singapore | $13.5B | +11% | +26% | 32% | 8.2× | -10.1% | +11.8% |
| XCMG Construction Machinery 000425.SZ | China | $12.6B | -28% | +8% | 8% | 11.0× | -3.2% | +6.4% |
| Hdksoe 009540.KS | South Korea | $12.5B | -48% | +23% | 23% | 4.4× | n/a | n/a |
| Sinotruk Hong Kong 3808.HK | Hong Kong | $12.3B | -12% | +38% | 7% | 9.4× | -3.2% | +1.5% |
| China CSSC 600150.SS | China | $39.7B | -16% | +80% | 8% | 13.3× | -7.8% | +22.4% |
| Ashok Leyland ASHOKLEY.NS | India | $10.7B | +1% | +16% | 17% | 24.8× | n/a | n/a |
| Hanwha Ocean 042660.KS | South Korea | $10.7B | -64% | +18% | 13% | 8.7× | -12.4% | +13.2% |
| SamsungHvyInd 010140.KS | South Korea | $10.2B | -50% | +30% | 27% | 13.3× | -20.3% | +11.4% |
| Toro TTC | United States | $9.92B | +10% | +5% | 11% | 21.2× | 5.6% | +6.0% |
| Sandvik SAND.ST | Sweden | $45.8B | -1% | +14% | 20% | 21.0× | 13.3% | +6.9% |
| Wabtec WAB | United States | $47.6B | +7% | +13% | 18% | 23.8× | 17.0% | +8.1% |