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Korean general contractor (formerly Daelim Industrial) building housing under the e-편한세상 brand plus plants and infrastructure.
Korean general contractor (formerly Daelim Industrial) building housing under the e-편한세상 brand plus plants and infrastructure.
Recognises revenue as it builds, so apartment projects and plant contracts turn into income over years. It was split out of Daelim Industrial in 2021, which left other businesses in sister companies, and is now part of the DL group.
Moat: none (brand). Recognized apartment brand, but construction is a competitive, cyclical, low-differentiation business.
Headquarters: Seoul, South Korea · Founded: 1939 · Employees: 4,742
Size Dl E&c (375500.KS) is a South Korea Industrials company (Engineering & Construction) with a market value of $1.53B, the 165th largest of 495 South Korea companies the cockpit tracks. Shares closed at ₩51,500 on 6 Nov 2026.
Performance Over six months the shares fell 48.0%, against -8.2% for the median peer and -24.5% for the South Korea market (cap-weighted) — lowest of 21 in its peer set.
Growth Revenue fell 17.4% over the last twelve months (peer median +0.9%); the operating margin is 3.9% (peer median 6.1%).
Valuation It trades at 5.2× forward earnings against a peer median of 21.5× (3rd cheapest of 16).
Price implies For today's price to make sense, revenue must grow about -8% a year for seven years (Req g). Recent delivered growth is -5%, so the hurdle is -3 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 2.0 points below its cost of capital (5.6% WACC).
Next results Next results expected around 5 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₩6.73T | ₩7.40T | ₩8.32T | ₩7.99T | ₩7.50T |
| Revenue growth | — | -11% | +4% | +7% | — |
| Gross profit | n/a | ₩900B | ₩889B | ₩788B | ₩934B |
| EBITDA | n/a | ₩212B | ₩276B | ₩384B | ₩541B |
| Net income | ₩468B | ₩370B | ₩229B | ₩188B | ₩413B |
| Free cash flow | n/a | ₩215B | ₩171B | ₩219B | ₩134B |
| Capital expenditure | n/a | ₩23.0B | ₩18.8B | ₩16.6B | ₩23.8B |
| Total debt | n/a | ₩1.08T | ₩1.15T | ₩1.27T | ₩1.23T |
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 |
|---|---|---|---|---|---|---|
| Dl E&c 375500.KS | $1.53B | -48% | -17% | 4% | 5.2× | -8.3% |
| GS Engineering & Construction 006360.KS | $1.86B | -22% | -15% | 3% | 16.8× | -9.8% |
| HyundaiEng&Const 000720.KS | $6.43B | -52% | -9% | 3% | 18.3× | n/a |
| Samsung C&t 028260.KS | $31.3B | -8% | +14% | 8% | 15.0× | 5.9% |
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 | 375500.KS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -28.6% | -2.2% | lowest of 21 |
| 6-month return | -48.0% | -8.2% | lowest of 21 |
| Distance from 52-week high | -51.7% | -26.8% | lowest of 21 |
| Revenue growth (TTM) | -17.4% | +0.9% | 3rd lowest of 21 |
| Operating margin | 3.9% | 6.1% | 8th lowest of 21 |
| Forward P/E | 5.2× | 21.5× | 3rd cheapest of 16 |
| Growth the price implies (Req g, 7 yrs) | -8.3% | -1.4% | 3rd least demanding of 15 |
| Growth delivered (Del g) | -5.3% | +4.1% | 2nd lowest of 15 |
| Hurdle (Req g minus delivered) | -3.0 pp | -9.8 pp | 6th most demanding of 15 |
| ROIC minus cost of capital | -2.0 pp | +1.3 pp | 6th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Dl E&c 375500.KS | South Korea | $1.53B | -48% | -17% | 4% | 5.2× | -8.3% | -5.3% |
| Ruentex Engineering & Construction 2597.TW | Taiwan | $1.50B | +5% | +20% | 14% | n/a | -5.0% | +16.8% |
| Zhejiang Youpon Integrated Ceiling 002718.SZ | China | $1.58B | +12% | -18% | -5% | n/a | n/a | n/a |
| China CAMC Engineering 002051.SZ | China | $1.58B | -15% | +14% | 5% | 40.3× | n/a | n/a |
| SRG Global SRG.AX | Australia | $1.46B | +7% | +27% | 7% | 22.1× | 16.4% | +24.1% |
| MIRAIT ONE 1417.T | Japan | $1.60B | -24% | +5% | 6% | 10.4× | -5.7% | +5.4% |
| Hongrun Construction 002062.SZ | China | $1.45B | -11% | -12% | 7% | 31.6× | 5.6% | -12.6% |
| Shaanxi Construction Engineering 600248.SS | China | $1.45B | -25% | -25% | 0% | 2.7× | n/a | n/a |
| Implenia IMPN.SW | Switzerland | $1.61B | +12% | -8% | 2% | 15.0× | 6.0% | -2.7% |
| Jiangxi Ganyue Expressway 600269.SS | China | $1.44B | -7% | +3% | 28% | n/a | -11.6% | +4.4% |
| Zhejiang Construction Investment 002761.SZ | China | $1.42B | -14% | -12% | 0% | n/a | 13.0% | +0.4% |
| Shandong Hi-speed Road&bridge 000498.SZ | China | $1.65B | +20% | -9% | 7% | 4.9× | n/a | n/a |
| Japan Elevator Service 6544.T | Japan | $1.65B | -9% | +17% | 19% | 29.3× | 4.0% | +18.6% |
| Beijing Gehua CATV Network 600037.SS | China | $1.40B | -16% | +24% | -5% | 39.4× | n/a | n/a |
| China Aluminum International Engineering 601068.SS | China | $1.68B | -34% | -10% | 4% | 41.2× | 10.9% | +0.1% |
| Envision Greenwise 1783.HK | Hong Kong | $1.68B | +38% | +183% | 3% | n/a | n/a | n/a |
| NCC NCC-A.ST | Sweden | $1.69B | -3% | -17% | 3% | 22.2× | -1.6% | +0.7% |
| Kepco Kps 051600.KS | South Korea | $1.37B | -34% | +6% | 9% | 12.6× | -6.1% | +3.9% |
| Chudenko 1941.T | Japan | $1.71B | +3% | +9% | 12% | 11.0× | -8.6% | +4.3% |
| Burkhalter BRKN.SW | Switzerland | $1.71B | -27% | -2% | 6% | 21.5× | -1.3% | +19.0% |
| SHO BOND 1414.T | Japan | $1.71B | -6% | -2% | 23% | 16.3× | -7.5% | +2.2% |