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Employees: 324
Size PI Advanced Materials (178920.KS) is a South Korea Materials company (Chemicals: Specialty) with a market value of $307M, the 457th largest of 495 South Korea companies the cockpit tracks. Shares closed at ₩14,190 on 6 Nov 2026.
Performance Over six months the shares fell 44.9%, against -21.5% for the median peer and -24.5% for the South Korea market (cap-weighted) — lowest of 21 in its peer set.
Growth Revenue fell 1.8% over the last twelve months (peer median +3.7%); the operating margin is 22.0% (peer median 2.3%).
Valuation It trades at 8.2× forward earnings against a peer median of 10.4× (cheapest of 6).
Price implies For today's price to make sense, revenue must grow about -9% a year for seven years (Req g). Recent delivered growth is 0%, so the hurdle is -10 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 4.5 points above its cost of capital (7.1% WACC).
Next results Next results expected around 10 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₩256B | ₩263B | ₩251B | ₩218B | ₩276B |
| Revenue growth | — | +5% | +15% | -21% | — |
| Gross profit | n/a | ₩69.7B | ₩60.6B | ₩23.0B | ₩77.3B |
| EBITDA | n/a | ₩76.7B | ₩66.2B | ₩25.3B | ₩77.9B |
| Net income | ₩41.7B | ₩30.4B | ₩22.3B | -₩1.80B | ₩45.7B |
| Free cash flow | n/a | ₩74.3B | ₩41.9B | ₩7.82B | -₩90.4B |
| Capital expenditure | n/a | ₩4.93B | ₩13.8B | ₩52.2B | ₩113B |
| Total debt | n/a | ₩51.2B | ₩142B | ₩157B | ₩101B |
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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 | 178920.KS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -30.3% | -16.3% | 3rd lowest of 21 |
| 6-month return | -44.9% | -21.5% | lowest of 21 |
| Distance from 52-week high | -55.9% | -44.2% | 2nd lowest of 21 |
| Revenue growth (TTM) | -1.8% | +3.7% | 8th lowest of 21 |
| Operating margin | 22.0% | 2.3% | 2nd highest of 21 |
| Forward P/E | 8.2× | 10.4× | cheapest of 6 |
| Growth the price implies (Req g, 7 yrs) | -9.5% | 13.8% | least demanding of 9 |
| Growth delivered (Del g) | +0.1% | +5.0% | 2nd lowest of 9 |
| Hurdle (Req g minus delivered) | -9.6 pp | +14.9 pp | least demanding of 9 |
| ROIC minus cost of capital | +4.5 pp | -7.0 pp | 3rd highest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| PI Advanced Materials 178920.KS | South Korea | $307M | -45% | -2% | 22% | 8.2× | -9.5% | +0.1% |
| Wuxi Honghui New Materials Technology 002802.SZ | China | $307M | -17% | +8% | 13% | n/a | 11.5% | -6.2% |
| Shenzhen Tongyi Industry 300538.SZ | China | $307M | -31% | -16% | -2% | n/a | n/a | n/a |
| Suzhou Fushilai Pharmaceutical 301258.SZ | China | $313M | -21% | -15% | -13% | n/a | n/a | n/a |
| Yangfan New Materials (Zhejiang) 300637.SZ | China | $314M | -19% | +3% | 1% | n/a | 57.5% | +13.4% |
| Liuzhou Chemical Industry 600423.SS | China | $299M | -19% | +3% | -15% | n/a | 38.2% | +5.2% |
| Rasa Industries,Ltd 4022.T | Japan | $298M | -44% | +13% | 13% | 9.0× | 6.4% | +10.5% |
| Jiangmen Kanhoo Industry 300340.SZ | China | $318M | -31% | +20% | -7% | n/a | 51.6% | +4.7% |
| Trualt Bioenergy TRUALT.NS | India | $320M | -26% | -5% | 14% | 10.4× | n/a | n/a |
| Weifang Yaxing Chemical 600319.SS | China | $320M | -32% | -5% | -10% | n/a | n/a | n/a |
| International CSRC Investment 2104.TW | Taiwan | $290M | -5% | -20% | -20% | n/a | n/a | n/a |
| Chung Hwa Chemical Industrial Works 1727.TW | Taiwan | $325M | -4% | +5% | 5% | n/a | n/a | n/a |
| Polyplex POLYPLEX.NS | India | $290M | -7% | +10% | 4% | n/a | 9.9% | +7.6% |
| Premier Explosives PREMEXPLN.NS | India | $290M | -9% | -27% | 3% | n/a | n/a | n/a |
| Aekyung Chemical 161000.KS | South Korea | $326M | -41% | +3% | 2% | n/a | n/a | n/a |
| PCC Rokita Spolka Akcyjna PCR.WA | Poland | $327M | -7% | -6% | 3% | 10.2× | 16.1% | +4.1% |
| Anhui Annada Titanium Industry 002136.SZ | China | $327M | -33% | +12% | 2% | n/a | n/a | n/a |
| Guangdong Quanwei Technology 300716.SZ | China | $331M | +2% | +47% | -333% | n/a | n/a | n/a |
| Stella Chemifa 4109.T | Japan | $332M | -22% | +4% | 12% | 14.7× | 6.5% | +2.3% |
| Jiangsu HSC New Energy Materials 688353.SS | China | $332M | -35% | +153% | 39% | 12.9× | n/a | n/a |
| Longxing Technology 002442.SZ | China | $335M | -27% | +7% | 1% | n/a | n/a | n/a |