JONBUR Research · Initiation
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Samsung Electro-Mechanics · 009150 · Electronic components
Samsung Electro-Mechanics: Share Price Up Sharply as Earnings Recover, Multiples Far Above Recent Levels
Samsung Electro-Mechanics closed at ₩1,487,000 on 2026-10-12, up 606.4% over one year, with a market cap of about ₩111.1T. Trailing earnings have improved from 2025, but the trailing P/E of 110.2 and P/B of 10.9 are well above year-end 2025 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.
Thesis
The data supports an earnings recovery. Trailing revenue is ₩12.5T, operating margin is 9.8% versus 8.1% in 2025, and ROE is 10.6% versus 7.7%. The share price has moved much faster than profits, though: it is up 606.4% in a year and sits 38.5% below its 52-week high of ₩2,417,000 but far above the low of ₩195,400. Year-end 2025 P/E was 27 and P/B was 2; now they are 110.2 and 10.9. That means expectations embedded in the price have risen far more than reported results. Investor flow, foreign ownership and short-balance data are not available, so we cannot say who has been driving the move. Recent filings show supply contracts and facility investment, but their sizes are not in the data.
Business overview
Samsung Electro-Mechanics is a KOSPI-listed electronic components company, founded in 1973 and listed in 1979, led by CEO 장덕현 (Jang Duck-hyun). It has 74,693,696 listed shares. Annual revenue was ₩9.7T in 2021 and ₩11.3T in 2025. Operating margin fell from 15.4% in 2021 to 7.1% in 2024, then recovered to 8.1% in 2025. Listed peers in the data include Doosan (₩20.2T market cap), Hanwha Systems (₩14.2T), LG Innotek (₩11.3T), Isupetasys (₩8.9T) and Daeduck Electronics (₩7.3T). Samsung Electro-Mechanics is larger than all of them by market cap. News this month covers an in-house AI hackathon and a government award for an executive's work on high-value MLCCs.
Every earlier JONBUR Research report and update note on Samsung Electro-Mechanics, with Pro.
Unlock with ProModel estimate of fair value
The valuation model has no estimate for this company yet (not enough data, or no positive value with the base case).
Report history
- Oct 28, 2026Update noteEarningsSamsung Electro-Mechanics Q3 Preliminary Operating Profit Rises 165.5% to ₩691.0B
- Oct 21, 2026Update noteModel fair value changeSamsung Electro-Mechanics: Model Fair Value Estimate Cut 40% to ₩84,134 Per Share
- Oct 20, 2026Update noteNewsSamsung Electro-Mechanics: Large Substrate Order News Arrives as Shares Fall Below Last Report's Level
- Oct 13, 2026InitiationSamsung Electro-Mechanics: Share Price Up Sharply as Earnings Recover, Multiples Far Above Recent Levels
Source: KRX statistical information