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Doosan Group's maker of stationary phosphoric-acid and solid-oxide fuel cells for on-site and backup power generation.
Doosan Group's maker of stationary phosphoric-acid and solid-oxide fuel cells for on-site and backup power generation.
Sells fuel-cell plants largely to Korean power buyers under government renewable-energy rules, such as utility obligations and clean-hydrogen power auctions, then earns maintenance revenue, including stack replacements, across each plant's life. Policy and auction rules therefore drive orders more than market prices do.
Moat: narrow (installed base, process know-how). One of few global stationary fuel-cell makers with a large installed base in Korea.
Headquarters: Iksan, South Korea · Employees: 709
Size Doosan Fuel Cell (336260.KS) is a South Korea Information Technology company (Electronic Production Equipment) with a market value of $1.33B, the 191st largest of 495 South Korea companies the cockpit tracks. Shares closed at ₩26,450 on 6 Nov 2026.
Performance Over six months the shares fell 56.5%, against -23.4% for the median peer and -24.5% for the South Korea market (cap-weighted) — lowest of 20 in its peer set.
Growth Revenue fell 19.0% over the last twelve months (peer median +16.7%); the operating margin is -31.1% (peer median 8.5%).
Valuation It trades at 3.8× enterprise value to sales against a peer median of 4.6× (10th cheapest of 21).
Capital Return on invested capital runs 40.9 points below its cost of capital (11.7% WACC).
Next results Next results expected around 17 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₩470B | ₩455B | ₩412B | ₩261B | ₩312B |
| Revenue growth | — | +10% | +58% | -16% | — |
| Gross profit | n/a | -₩67.0B | ₩31.4B | ₩35.3B | ₩41.7B |
| EBITDA | n/a | -₩79.3B | ₩20.8B | ₩18.5B | ₩14.4B |
| Net income | -₩199B | -₩133B | -₩10.5B | -₩8.50B | ₩3.86B |
| Free cash flow | n/a | -₩90.8B | ₩32.8B | -₩106B | -₩331B |
| Capital expenditure | n/a | ₩106B | ₩71.7B | ₩115B | ₩77.2B |
| Total debt | n/a | ₩547B | ₩458B | ₩384B | ₩278B |
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 | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| Doosan Fuel Cell 336260.KS | $1.33B | -56% | -19% | -31% | 3.8× | n/a |
| Bloom Energy BE | $51.2B | -21% | +111% | 15% | 13.5× | n/a |
| FuelCell Energy FCEL | $796M | -27% | +1% | -88% | 2.2× | 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 | 336260.KS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -41.5% | -14.3% | 3rd lowest of 21 |
| 6-month return | -56.5% | -23.4% | lowest of 20 |
| Distance from 52-week high | -75.7% | -51.0% | lowest of 21 |
| Revenue growth (TTM) | -19.0% | +16.7% | lowest of 21 |
| Operating margin | -31.1% | 8.5% | 2nd lowest of 21 |
| EV / Sales | 3.8× | 4.6× | 10th cheapest of 21 |
| ROIC minus cost of capital | -40.9 pp | -2.4 pp | lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Doosan Fuel Cell 336260.KS | South Korea | $1.33B | -56% | -19% | -31% | 3.8× | n/a | n/a |
| Dongguan Tarry Electronics 300976.SZ | China | $1.33B | +4% | +19% | 9% | 2.2× | 17.5% | +27.2% |
| Shenzhen Success Electronics 002289.SZ | China | $1.33B | -9% | +237% | 27% | 11.9× | 24.4% | +18.8% |
| TXC 3042.TW | Taiwan | $1.28B | -26% | +9% | 17% | 2.9× | 10.7% | +3.9% |
| TPV Technology 000727.SZ | China | $1.38B | -23% | +7% | -1% | 0.5× | n/a | n/a |
| Grand Process Technology 3131.TWO | Taiwan | $1.27B | -51% | +38% | 22% | 5.5× | 13.0% | +21.2% |
| TKD Science and Technology 603738.SS | China | $1.39B | -37% | +20% | 9% | 8.3× | 44.4% | +8.4% |
| Shenzhen Hui Chuang Da Technology 300909.SZ | China | $1.26B | +4% | +3% | 2% | 5.6× | n/a | n/a |
| Maxvision Technology 002990.SZ | China | $1.26B | -39% | +36% | 14% | 6.6× | n/a | n/a |
| Nolato NOLA-B.ST | Sweden | $1.40B | +5% | 0% | 10% | 1.4× | 3.9% | +0.2% |
| WindSun Science & Technology 688663.SS | China | $1.23B | -14% | -9% | 3% | 4.2× | 48.5% | +18.9% |
| Suzhou Betely Polymer Materials 301697.SZ | China | $1.44B | n/a | +45% | 5% | 2.6× | n/a | n/a |
| Aurora Optoelectronics 600666.SS | China | $1.22B | -44% | +44% | -15% | 13.6× | 35.2% | -1.9% |
| Fuman Microelectronics 300671.SZ | China | $1.21B | -22% | +71% | 3% | 6.4× | n/a | n/a |
| Shenzhen Fenda Technology 002681.SZ | China | $1.19B | -15% | +7% | -1% | 3.0× | 27.1% | -5.2% |
| Dongjin Semichem 005290.KS | South Korea | $1.18B | -44% | -4% | 16% | 1.2× | -4.4% | +5.0% |
| Guangdong Suqun New Material 301489.SZ | China | $1.16B | -54% | +24% | 8% | 6.7× | n/a | n/a |
| Shenzhen Sinexcel Electric 300693.SZ | China | $1.57B | -28% | +27% | 15% | 2.6× | 13.1% | +35.0% |
| Harbin Xinguang Optic-Electronics Technology 688011.SS | China | $1.11B | +17% | +14% | -42% | 42.7× | n/a | n/a |
| Photronics PLAB | United States | $1.61B | -49% | +1% | 22% | 1.6× | 1.9% | +6.9% |
| Shenzhen AV-Display 300939.SZ | China | $1.07B | +54% | +5% | 3% | 5.0× | n/a | n/a |