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Korean specialty chemicals maker of semiconductor etchants/precursors and secondary-battery electrolytes for Samsung, SK hynix and battery makers.
Korean specialty chemicals maker of semiconductor etchants/precursors and secondary-battery electrolytes for Samsung, SK hynix and battery makers.
Sells high-purity wet chemicals into chip fabs by volume, so sales follow memory-chip production and the number of manufacturing steps per chip. A qualified supplier is rarely replaced mid-generation. Battery electrolyte is a second line tied to cell makers' output.
Moat: narrow (customer qualification, process know-how). Qualified high-purity chemical supplier; fabs rarely re-qualify wet-chemical vendors.
Headquarters: Cheonan, South Korea · Founded: 1986 · Employees: 1,133
Size Soulbrain (357780.KS) is a South Korea Information Technology company (Chemicals: Specialty) with a market value of $1.38B, the 184th largest of 495 South Korea companies the cockpit tracks. Shares closed at ₩244,500 on 6 Nov 2026.
Performance Over six months the shares fell 46.6%, against -37.9% for the median peer and -24.5% for the South Korea market (cap-weighted) — 8th lowest of 21 in its peer set.
Growth Revenue grew 21.3% over the last twelve months (peer median +20.4%); the operating margin is 15.8% (peer median 14.8%).
Valuation It trades at 10.6× forward earnings against a peer median of 15.7× (4th cheapest of 15).
Price implies For today's price to make sense, revenue must grow about 3% a year for seven years (Req g). Recent delivered growth is +14%, so the hurdle is -11 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 1.5 points above its cost of capital (9.0% WACC).
Next results Next results expected around 18 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₩1.06T | ₩923B | ₩863B | ₩844B | ₩1.09T |
| Revenue growth | — | +7% | +2% | -23% | — |
| Gross profit | ₩273B | ₩226B | ₩240B | ₩191B | ₩291B |
| EBITDA | ₩236B | ₩197B | ₩225B | ₩197B | ₩256B |
| Net income | ₩128B | ₩79.1B | ₩118B | ₩130B | ₩163B |
| Free cash flow | ₩110B | ₩27.1B | ₩167B | ₩91.7B | ₩96.8B |
| Capital expenditure | ₩90.5B | ₩120B | ₩95.5B | ₩129B | ₩94.9B |
| Total debt | ₩31.7B | ₩117B | ₩2.30B | ₩1.69B | ₩2.01B |
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 |
|---|---|---|---|---|---|---|
| Soulbrain 357780.KS | $1.38B | -47% | +21% | 16% | 10.6× | 3.1% |
| Foosung 093370.KS | $648M | -38% | +27% | 8% | 21.9× | n/a |
| ENF Technology 102710.KS | $376M | -38% | +14% | 12% | 8.0× | -8.0% |
| Kanto Denka Kogyo 4047.T | $570M | -6% | +13% | 12% | 9.8× | n/a |
Peer set: Sector in the same market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 357780.KS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -40.9% | -40.5% | 10th lowest of 21 |
| 6-month return | -46.6% | -37.9% | 8th lowest of 21 |
| Distance from 52-week high | -53.6% | -58.7% | 7th highest of 21 |
| Revenue growth (TTM) | +21.3% | +20.4% | 10th highest of 21 |
| Operating margin | 15.8% | 14.8% | 10th highest of 21 |
| Forward P/E | 10.6× | 15.7× | 4th cheapest of 15 |
| Growth the price implies (Req g, 7 yrs) | 3.1% | 11.2% | 5th least demanding of 12 |
| Growth delivered (Del g) | +14.5% | +12.6% | 6th highest of 12 |
| Hurdle (Req g minus delivered) | -11.4 pp | -9.3 pp | 6th least demanding of 12 |
| ROIC minus cost of capital | +1.5 pp | +4.1 pp | 9th lowest of 21 |
| EV / EBITDA | 7.4× | 13.5× | 4th cheapest of 15 |
| Net debt / EBITDA | -1.3× | -1.1× | 8th least indebted of 16 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Soulbrain 357780.KS | South Korea | $1.38B | -47% | +21% | 16% | 10.6× | 3.1% | +14.5% |
| Hanwha Vision 489790.KS | South Korea | $1.41B | -56% | +20% | 11% | 10.4× | n/a | n/a |
| NHN 181710.KS | South Korea | $1.34B | +44% | +12% | 6% | 16.3× | -4.4% | +8.9% |
| Seojin System 178320.KS | South Korea | $1.33B | -52% | +9% | -5% | n/a | n/a | n/a |
| SHIFT UP 462870.KS | South Korea | $1.33B | -4% | -12% | 56% | 13.3× | -12.9% | +59.7% |
| Doosan Fuel Cell 336260.KS | South Korea | $1.33B | -56% | -19% | -31% | n/a | n/a | n/a |
| PearlAbyss 263750.KS | South Korea | $1.47B | -44% | +114% | 40% | 7.1× | n/a | n/a |
| TSE 131290.KS | South Korea | $1.29B | -4% | +37% | 22% | 12.0× | 11.2% | +8.5% |
| Jeju Semiconductor 080220.KS | South Korea | $1.24B | -4% | +284% | 32% | n/a | n/a | n/a |
| FADU 440110.KS | South Korea | $1.23B | -58% | +137% | -9% | 44.5× | 43.1% | +156.1% |
| Wonik 030530.KS | South Korea | $1.59B | -14% | -14% | 1% | n/a | n/a | n/a |
| Dongjin Semichem 005290.KS | South Korea | $1.18B | -44% | -4% | 16% | n/a | -4.4% | +5.0% |
| Hana Micron 067310.KS | South Korea | $1.18B | -39% | +54% | 14% | 6.1× | 0.4% | +23.3% |
| Korea Circuit 007810.KS | South Korea | $1.09B | -36% | +21% | 6% | 15.1× | n/a | n/a |
| ISC 095340.KS | South Korea | $1.82B | -50% | +61% | 30% | 29.8× | 10.5% | +12.6% |
| Sungho Electronics 043260.KS | South Korea | $1.04B | -54% | +44% | 4% | n/a | n/a | n/a |
| Psk 031980.KS | South Korea | $1.89B | -4% | +7% | 36% | 19.2× | 19.3% | +39.2% |
| Koh Young Technology 098460.KS | South Korea | $987M | -49% | +57% | 15% | 25.1× | 20.5% | +5.3% |
| TES 095610.KS | South Korea | $982M | -7% | +33% | 17% | 13.7× | 14.5% | +7.4% |
| HPSP 403870.KS | South Korea | $1.95B | -37% | -20% | 53% | 22.1× | 15.6% | +23.1% |
| Park Systems 140860.KS | South Korea | $965M | -35% | -6% | 12% | 30.3× | n/a | n/a |