Ask Warren

JONBUR Research · Initiation

You're reading an earlier report from Oct 13, 2026. See the latest report

SeAH Besteel Holdings · 001430 · Steel & Materials

SeAH Besteel Holdings: Sharp Share Price Rally Against Modest Profit Recovery

Why this report

Start of coverage: one of the 300 largest companies, written once its financial statements were in.

SeAH Besteel Holdings closed at ₩44,500 on 2026-10-12, up 89.4% over one year and 47.1% over three months, with a market cap of about ₩1.6T. Filed financials show profits recovering from 2024 lows but still below 2021 and 2023 levels.

Written Oct 13, 2026 · Data as of Oct 12, 2026 · 0 views

This is not financial advice. The report does not recommend buying or selling anything.

XfWATGr/in@

Thesis

The data supports a story of earnings recovery: operating income rose from ₩52.3B in 2024 to ₩98.4B in 2025, and the trailing twelve months to H1 2026 show ₩126.7B. The share price has moved much faster than profits, and it sits at 48.1% of its 52-week high of ₩92,500 (low ₩23,600), so the market has been volatile. Revenue has been flat at about ₩3.6T-₩3.9T, so the recovery comes from margins, not growth. Investor flows, foreign ownership, short balance and news headlines are not available in the data, so we cannot say who is driving the price moves.

Business overview

SeAH Besteel Holdings is a KOSPI-listed company in the Steel & Materials sector, founded in 1955 and listed in 1991, with 35,862,119 listed shares. The co-CEOs listed are 이태성 and 김수호. Revenue was ₩3.65T in 2021, peaked at ₩4.39T in 2022, then fell to ₩4.08T in 2023 and ₩3.64T in 2024. It was ₩3.65T in 2025 and ₩3.89T on a trailing basis to H1 2026. Recent filings include preliminary earnings and IR events on 2026-07-30, the half-year report on 2026-08-14 and a sustainability report disclosure on 2026-07-31.

Every earlier JONBUR Research report and update note on SeAH Besteel Holdings, with Pro.

Unlock with Pro

Model estimate of fair value

Bear
₩41,418
+46%
Base
₩105,413
+271%
Bull
₩254,607
+797%

Model estimate based on the assumptions shown. Not a price target and not a buy or sell signal.

Base case of the 5-year discounted cash flow model on the stock's Valuation tab (statements TTM to H1 2026; discount rate 5%). Bear and Bull move the main assumptions by fixed steps. See and change the assumptions

Filings and data used

Report history

  1. Oct 29, 2026Update noteEarningsSeAH Besteel Holdings: Q3 Operating Profit Falls 46.4% as Net Result Turns to a Loss
  2. Oct 13, 2026InitiationStart of coverage (300 largest)SeAH Besteel Holdings: Sharp Share Price Rally Against Modest Profit Recovery

Built only from jonbur's own data: prices and investor flows, filed financial statements and filings, and news headlines. Disclosed (filed) data is labelled as such. Written by AI and may contain mistakes.

This is not financial advice. The report does not recommend buying or selling anything.

Source: KRX statistical information