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Doosan Group affiliate providing wafer-level electrical die-sorting (EDS) test services to semiconductor foundries and fabless chip designers.
Doosan Group affiliate providing wafer-level electrical die-sorting (EDS) test services to semiconductor foundries and fabless chip designers.
Owns expensive wafer-testing machines and bills customers for the wafers it tests, so earnings depend on keeping them busy and covering the heavy fixed cost of the equipment. It is part of the Doosan Group.
Moat: narrow (customer qualification, process know-how). Qualified outsourced wafer-test provider inside Korea's semiconductor supply chain.
Headquarters: South Korea · Employees: 786
Size DOOSAN TESNA (131970.KS) is a South Korea Industrials company (Miscellaneous Commercial Services) with a market value of $861M, the 255th largest of 495 South Korea companies the cockpit tracks. Shares closed at ₩60,800 on 6 Nov 2026.
Performance Over six months the shares fell 53.5%, against -7.1% for the median peer and -24.5% for the South Korea market (cap-weighted) — 2nd lowest of 21 in its peer set.
Growth Revenue grew 3.1% over the last twelve months (peer median +3.8%); the operating margin is 10.9% (peer median 9.7%).
Valuation It trades at 36.9× forward earnings against a peer median of 19.9× (4th most expensive of 17).
Price implies For today's price to make sense, revenue must grow about 18% a year for seven years (Req g). Recent delivered growth is +18%, so the hurdle is -0 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 3.6 points below its cost of capital (8.2% WACC).
Next results Next results expected around 12 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₩326B | ₩304B | ₩373B | ₩339B | ₩278B |
| Revenue growth | — | -19% | +10% | +22% | — |
| Gross profit | ₩67.1B | ₩29.7B | ₩68.2B | ₩82.4B | ₩82.5B |
| EBITDA | ₩188B | ₩166B | ₩227B | ₩229B | ₩191B |
| Net income | ₩34.2B | ₩1.51B | ₩36.8B | ₩49.1B | ₩52.3B |
| Free cash flow | ₩97.5B | ₩124B | ₩36.0B | ₩38.7B | -₩88.4B |
| Capital expenditure | ₩82.5B | ₩24.8B | ₩184B | ₩174B | ₩259B |
| Total debt | ₩199B | ₩229B | ₩320B | ₩320B | ₩337B |
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 TESNA 131970.KS | $861M | -53% | +3% | 11% | 36.9× | 17.8% |
| SFA Semicon 036540.KS | $728M | -27% | +37% | -4% | n/a | n/a |
| Amkor Technology AMKR | $8.13B | -57% | +16% | 10% | 12.1× | n/a |
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 | 131970.KS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -44.3% | -1.7% | lowest of 21 |
| 6-month return | -53.5% | -7.1% | 2nd lowest of 21 |
| Distance from 52-week high | -69.1% | -34.5% | 3rd lowest of 21 |
| Revenue growth (TTM) | +3.1% | +3.8% | 10th lowest of 21 |
| Operating margin | 10.9% | 9.7% | 10th highest of 21 |
| Forward P/E | 36.9× | 19.9× | 4th most expensive of 17 |
| Growth the price implies (Req g, 7 yrs) | 17.8% | 5.4% | 4th most demanding of 15 |
| Growth delivered (Del g) | +18.1% | +16.2% | 7th highest of 15 |
| Hurdle (Req g minus delivered) | -0.3 pp | -18.2 pp | 5th most demanding of 15 |
| ROIC minus cost of capital | -3.6 pp | +3.4 pp | 8th lowest of 19 |
| EV / EBITDA | 6.8× | 8.0× | 4th cheapest of 10 |
| Net debt / EBITDA | 0.6× | 0.1× | 6th least indebted of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| DOOSAN TESNA 131970.KS | South Korea | $861M | -53% | +3% | 11% | 36.9× | 17.8% | +18.1% |
| NOMURA 9716.T | Japan | $861M | +4% | -10% | 7% | 14.1× | -8.4% | +8.6% |
| Funshine Culture 300860.SZ | China | $858M | +21% | -49% | -35% | 28.1× | 27.8% | -24.6% |
| Aimed Bio 0009K0.KS | South Korea | $875M | -61% | +223% | 36% | n/a | 13.2% | +652.2% |
| IP Group plc IPO.L | United Kingdom | $879M | +13% | -37% | 51% | 11.9× | n/a | n/a |
| Xi'an High Voltage Apparatus Research Institute 688334.SS | China | $889M | -10% | +4% | 29% | 21.3× | -2.4% | +20.3% |
| Zhejiang Meorient Commerce & Exhibition 300795.SZ | China | $890M | -1% | -3% | 18% | 29.6× | n/a | n/a |
| TaskUs TASK | United States | $833M | +41% | +11% | 12% | 6.5× | 0.5% | +19.9% |
| Anbang Save-Guard 603373.SS | China | $830M | +30% | -1% | 14% | 41.5× | 6.7% | +5.6% |
| Karnov KAR.ST | Sweden | $828M | +16% | -4% | 20% | 20.2× | 4.1% | +27.9% |
| PharmaResources (Shanghai) 301230.SZ | China | $822M | -4% | +9% | 0% | 90.5× | 42.7% | +19.5% |
| Cuscal CCL.AX | Australia | $815M | +26% | +19% | 12% | 19.6× | n/a | n/a |
| Embedway Technologies (Shanghai) 603496.SS | China | $910M | -37% | +4% | 1% | 137.0× | 54.3% | +14.5% |
| Beyondsoft 002649.SZ | China | $813M | -12% | -6% | 2% | 25.5× | 8.3% | +9.2% |
| Omat Advanced Materials (Guangdong) 688530.SS | China | $809M | -16% | +82% | 9% | n/a | n/a | n/a |
| transcosmos 9715.T | Japan | $802M | -12% | +6% | 4% | 9.6× | -18.5% | +3.2% |
| AXISCADES Technologies AXISCADES.NS | India | $802M | -17% | +5% | 10% | 7.8× | n/a | n/a |
| Huatu Cendes 300492.SZ | China | $800M | -44% | -8% | -2% | n/a | 17.6% | +91.2% |
| Shaanxi Fenghuo Electronics 000561.SZ | China | $929M | -24% | +8% | -26% | n/a | n/a | n/a |
| Wavestone WAVE.PA | France | $931M | -22% | +1% | 12% | 10.0× | -5.3% | +18.0% |
| W.A.G. Payment Solutions EWG.L | United Kingdom | $935M | -4% | +16% | 3% | 17.5× | -1.7% | +12.2% |