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Korean semiconductor and display equipment maker, producing ALD/CVD deposition tools for memory chipmakers and panel makers.
Korean semiconductor and display equipment maker, producing ALD/CVD deposition tools for memory chipmakers and panel makers.
Sells tools to memory fabs, including thin-film deposition systems, installed in blocks as chipmakers expand lines, so orders come in waves tied to new capacity. A few large Korean customers dominate demand; spares and servicing add recurring income. It is part of the Wonik group, whose Wonik Holdings is the parent.
Moat: narrow (customer qualification, process know-how). Tool-of-record deposition supplier at major Korean memory and display fabs.
Headquarters: Pyeongtaek, South Korea · Founded: 1985 · Employees: 1,509
Size Wonik IPS (240810.KS) is a South Korea Industrials company (Industrial Machinery) with a market value of $2.39B, the 119th largest of 495 South Korea companies the cockpit tracks. Shares closed at ₩66,700 on 6 Nov 2026.
Performance Over six months the shares fell 43.0%, against -20.6% for the median peer and -24.5% for the South Korea market (cap-weighted) — 4th lowest of 21 in its peer set.
Growth Revenue grew 9.3% over the last twelve months (peer median +11.5%); the operating margin is 8.0% (peer median 7.9%).
Valuation It trades at 14.7× forward earnings against a peer median of 23.5× (4th cheapest of 18).
Price implies For today's price to make sense, revenue must grow about 29% a year for seven years (Req g). Recent delivered growth is -4%, so the hurdle is +33 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 2.0 points below its cost of capital (10.0% WACC).
Next results Next results expected around 9 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₩925B | ₩910B | ₩748B | ₩690B | ₩1.01T |
| Revenue growth | — | +22% | +8% | -32% | — |
| Gross profit | ₩367B | ₩347B | ₩255B | ₩234B | ₩399B |
| EBITDA | ₩113B | ₩113B | ₩51.8B | ₩27.0B | ₩138B |
| Net income | ₩173B | ₩84.0B | ₩20.7B | -₩13.5B | ₩89.4B |
| Free cash flow | ₩46.7B | ₩140B | ₩60.4B | -₩62.6B | -₩37.5B |
| Capital expenditure | ₩28.3B | ₩28.8B | ₩31.8B | ₩60.4B | ₩75.4B |
| Total debt | ₩3.75B | ₩6.16B | ₩8.39B | ₩9.12B | ₩2.80B |
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 |
|---|---|---|---|---|---|---|
| Wonik IPS 240810.KS | $2.39B | -43% | +9% | 8% | 14.7× | 29.4% |
| Eugene Technology 084370.KS | $1.21B | -43% | +2% | 15% | 12.3× | 16.3% |
| Tokyo Electron 8035.T | $122B | +41% | +18% | 28% | 23.1× | 28.8% |
| ASM International ASM.AS | $35.5B | -28% | +13% | 31% | 27.0× | 30.0% |
| Jusung Engineering 036930.KS | $4.39B | +5% | -33% | 0% | 145.3× | 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 | 240810.KS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -49.1% | -6.1% | lowest of 21 |
| 6-month return | -43.0% | -20.6% | 4th lowest of 21 |
| Distance from 52-week high | -64.5% | -40.1% | 3rd lowest of 21 |
| Revenue growth (TTM) | +9.3% | +11.5% | 10th lowest of 21 |
| Operating margin | 8.0% | 7.9% | 10th highest of 21 |
| Forward P/E | 14.7× | 23.5× | 4th cheapest of 18 |
| Growth the price implies (Req g, 7 yrs) | 29.4% | 14.0% | 4th most demanding of 13 |
| Growth delivered (Del g) | -3.6% | +10.7% | 2nd lowest of 13 |
| Hurdle (Req g minus delivered) | +33.0 pp | +4.4 pp | 2nd most demanding of 13 |
| ROIC minus cost of capital | -2.0 pp | -0.2 pp | 10th lowest of 21 |
| EV / EBITDA | 25.2× | 11.5× | 4th most expensive of 12 |
| Net debt / EBITDA | -3.5× | 0.2× | least indebted of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Wonik IPS 240810.KS | South Korea | $2.39B | -43% | +9% | 8% | 14.7× | 29.4% | -3.6% |
| Amber Enterprises India AMBER.NS | India | $2.39B | -28% | +15% | 5% | 59.6× | n/a | n/a |
| Yantai Eddie Precision Machinery 603638.SS | China | $2.38B | -22% | +35% | 16% | 28.8× | 15.1% | +7.3% |
| Munters MTRS.ST | Sweden | $2.40B | -34% | 0% | 9% | 26.2× | 12.4% | +16.0% |
| Doosan Robotics 454910.KS | South Korea | $2.41B | -54% | +97% | -91% | n/a | n/a | n/a |
| ROBOTIS 108490.KS | South Korea | $2.37B | -30% | +52% | -16% | n/a | n/a | n/a |
| Japan Steel Works 5631.T | Japan | $2.41B | -46% | -1% | 10% | 17.0× | n/a | n/a |
| Organo 6368.T | Japan | $2.36B | -14% | +10% | 19% | 12.1× | 12.8% | +12.0% |
| Timken India TIMKEN.NS | India | $2.43B | -12% | +19% | 16% | 46.1× | 36.2% | +19.8% |
| Chengdu Xuguang Electronics 600353.SS | China | $2.32B | +8% | +13% | 7% | 64.5× | 53.1% | +12.8% |
| Chervon 2285.HK | Hong Kong | $2.32B | +103% | -6% | 8% | 15.7× | 12.1% | +6.4% |
| Zhuhai Bojay Electronics 002975.SZ | China | $2.32B | -13% | +71% | 18% | 41.2× | 34.2% | +6.0% |
| Guangdong Dongfang Precision Science & Technology 002611.SZ | China | $2.50B | -19% | -16% | 8% | 20.2× | 17.8% | +12.4% |
| Kalmar KALMAR.HE | Finland | $2.27B | -7% | +7% | 12% | 13.6× | -4.8% | -3.6% |
| All Ring Tech 6187.TWO | Taiwan | $2.52B | -36% | +1% | 29% | 25.0× | 26.4% | +28.9% |
| Dmg Mori 6141.T | Japan | $2.53B | -13% | +20% | 4% | 23.5× | 12.9% | +9.4% |
| China Baoan 000009.SZ | China | $2.56B | -23% | +26% | 7% | n/a | n/a | n/a |
| CECO Environmental CECO | United States | $2.56B | -47% | +38% | 6% | 16.5× | n/a | n/a |
| Wuxi Autowell Technology 688516.SS | China | $2.22B | -42% | -14% | 8% | 23.4× | n/a | n/a |
| Kunshan Kersen Science & Technology 603626.SS | China | $2.22B | +7% | -24% | -22% | 31.3× | n/a | n/a |
| Jungheinrich AG Pref JUN3.DE | Germany | $2.58B | -12% | +2% | 5% | 10.3× | -0.4% | +7.6% |