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Korean maker of power transformers, switchgear and rotating machinery, spun off from Hyundai Heavy Industries.
Korean maker of power transformers, switchgear and rotating machinery, spun off from Hyundai Heavy Industries.
Sells large transformers and switchgear on multi-year orders from utilities, and the order backlog shows the work ahead because factory slots are booked far in advance. It was split off from the HD Hyundai shipbuilding group's heavy-industry arm, and its American plant in Montgomery, Alabama has been expanded to supply the US grid.
In one line: Korea's GE Vernova electrical-equipment arm..
Moat: narrow (installed base, scale, customer qualification). Established heavy-electrical manufacturer benefiting from a global grid/transformer shortage, especially in the US.
Headquarters: Ulsan, South Korea · Founded: 2017 · Employees: 2,209
Size Hd Hyundai Electric (267260.KS) is a South Korea Industrials company (Electrical Products) with a market value of $9.71B, the 47th largest of 495 South Korea companies the cockpit tracks. Shares closed at ₩366,500 on 6 Nov 2026.
Performance Over six months the shares fell 70.7%, against -21.1% for the median peer and -24.5% for the South Korea market (cap-weighted) — lowest of 20 in its peer set.
Growth Revenue grew 21.1% over the last twelve months (peer median +11.4%); the operating margin is 25.4% (peer median 12.1%).
Valuation It trades at 15.0× forward earnings against a peer median of 17.4× (8th cheapest of 21).
Price implies For today's price to make sense, revenue must grow about 1% a year for seven years (Req g). Recent delivered growth is +18%, so the hurdle is -17 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 33.3 points above its cost of capital (8.4% WACC).
Next results Next results expected around 24 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₩4.52T | ₩4.08T | ₩3.32T | ₩2.70T | ₩2.10T |
| Revenue growth | — | +23% | +23% | +28% | — |
| Gross profit | n/a | ₩1.38T | ₩1.03T | ₩599B | ₩326B |
| EBITDA | n/a | ₩1.07T | ₩734B | ₩365B | ₩181B |
| Net income | ₩844B | ₩733B | ₩502B | ₩259B | ₩162B |
| Free cash flow | n/a | ₩726B | ₩912B | -₩97.8B | -₩157B |
| Capital expenditure | n/a | ₩242B | ₩137B | ₩89.1B | ₩41.2B |
| Total debt | n/a | ₩259B | ₩352B | ₩743B | ₩599B |
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 |
|---|---|---|---|---|---|---|
| Hd Hyundai Electric 267260.KS | $9.71B | -71% | +21% | 25% | 15.0× | 0.7% |
| Hyosung Heavy 298040.KS | $10.8B | -60% | +13% | 13% | 18.9× | 13.5% |
| Ls Electric 010120.KS | $12.8B | -58% | +32% | 10% | 31.6× | 21.9% |
| Siemens Energy ENR.DE | $111B | -33% | +9% | 9% | 26.4× | 17.3% |
| GE Vernova GEV | $205B | -26% | +17% | 7% | 32.2× | 24.9% |
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 | 267260.KS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -41.6% | -8.1% | 2nd lowest of 21 |
| 6-month return | -70.7% | -21.1% | lowest of 20 |
| Distance from 52-week high | -74.3% | -40.2% | lowest of 21 |
| Revenue growth (TTM) | +21.1% | +11.4% | 6th highest of 20 |
| Operating margin | 25.4% | 12.1% | 3rd highest of 21 |
| Forward P/E | 15.0× | 17.4× | 8th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | 0.7% | 8.4% | 3rd least demanding of 16 |
| Growth delivered (Del g) | +17.6% | +11.0% | 3rd highest of 15 |
| Hurdle (Req g minus delivered) | -17.0 pp | -1.4 pp | 3rd least demanding of 15 |
| ROIC minus cost of capital | +33.3 pp | +7.9 pp | 4th highest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Hd Hyundai Electric 267260.KS | South Korea | $9.71B | -71% | +21% | 25% | 15.0× | 0.7% | +17.6% |
| Fuji Electric 6504.T | Japan | $9.68B | -18% | +9% | 12% | 13.1× | 11.3% | +7.0% |
| Acuity AYI | United States | $9.59B | +10% | +7% | 16% | 15.1× | 6.6% | +6.0% |
| Smiths SMIN.L | United Kingdom | $9.45B | +5% | -34% | 16% | 22.6× | 15.2% | -4.2% |
| China Shipbuilding Industry Group Power 600482.SS | China | $10.3B | -21% | +13% | 7% | 23.4× | -19.6% | +16.5% |
| Innio INIO | United States | $10.3B | n/a | +22% | 13% | 17.5× | 6.5% | +22.1% |
| Goneo Group Co., Ltd.Class A 603195.SS | China | $10.4B | -15% | -2% | 25% | 17.4× | -2.1% | +9.8% |
| Generac GNRC | United States | $10.4B | -34% | +6% | 13% | 14.6× | 20.1% | +11.1% |
| Siemens Energy India ENRIN.NS | India | $10.6B | -11% | n/a | 20% | 60.1× | 27.3% | n/a |
| Anker Innovations Technology 300866.SZ | China | $8.83B | -11% | +22% | 11% | 19.5× | 5.8% | +26.7% |
| Furukawa Electric 5801.T | Japan | $8.75B | -54% | +13% | 6% | 11.9× | n/a | n/a |
| Hyosung Heavy 298040.KS | South Korea | $10.8B | -60% | +13% | 13% | 18.9× | 13.5% | +14.9% |
| GE Vernova T&D India GVT&D.NS | India | $10.9B | -16% | +41% | 26% | 62.7× | 45.7% | +12.4% |
| Goldwind Science & Technology 002202.SZ | China | $8.58B | -45% | +11% | 6% | 16.6× | n/a | n/a |
| SUPCON Technology 688777.SS | China | $8.58B | -9% | -6% | -3% | 116.4× | n/a | n/a |
| China XD Electric 601179.SS | China | $8.51B | -35% | +7% | 8% | 36.0× | n/a | n/a |
| Regal Rexnord RRX | United States | $11.3B | -21% | +5% | 12% | 14.0× | 14.0% | +15.3% |
| Sigenergy Technology 6656.HK | Hong Kong | $8.31B | -51% | +577% | 36% | 11.0× | n/a | n/a |
| Nordex NDX1.DE | Germany | $11.4B | -7% | +12% | 8% | 19.6× | 3.7% | +10.2% |
| Jiangsu Zhongtian Technology 600522.SS | China | $11.7B | -30% | +22% | 8% | 11.6× | 4.1% | +4.5% |
| Nidec 6594.T | Japan | $11.7B | -33% | +4% | -22% | 11.5× | 8.4% | +10.9% |