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JONBUR Research · Initiation

You're reading an earlier report from Oct 18, 2026. See the latest report

LG Innotek · 011070 · Electronic components

LG Innotek: Sharp Share Price Swings, Thin Margins and a Model Estimate Far Below the Market Price

Why this report

Start of coverage, written again: the first report came before this company's full financial statements were in, so it was redone once they arrived.

LG Innotek's share price is up 105.3% over one year but down 39.1% over three months and 21.1% over one month, and it sits well below its 52-week high of ₩1,788,000. Trailing profit has improved from 2025, yet the model estimate of ₩117,249 per share is well below the ₩406,500 close.

Written Oct 18, 2026 · Data as of Oct 16, 2026 · 0 views

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

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Thesis

The data supports a picture of a large electronic components maker with stable revenue but compressed margins compared with 2021-2022. Trailing twelve-month revenue is ₩24.0T and operating income is ₩1.07T, an operating margin of 4.4%, up from 3.0% in 2025 but below 8.5% in 2021. ROE has recovered to 11.3% from 6.1%. The share price has moved much faster than earnings: the 52-week range runs from ₩193,000 to ₩1,788,000, and the recent 3-month drop of 39.1% shows high volatility. News headlines say management expects FC-BGA long-term agreements with big tech to be extended, results to improve from next year, and glass substrates to be supplied from 2028. These are management statements in the headlines, not figures in the filings provided. Investor flows are mixed, with institutions net selling and retail net buying over 20 days. Short-balance data is not available.

Business overview

LG Innotek is listed on the KOSPI in the electronic components sector and has been listed since 2008-07-24 (founded 1976-02-24). The CEO is listed as Moon Hyuk-soo. It has 23,667,107 listed shares and a market capitalisation of about ₩9.6T. Annual revenue grew from ₩14.9T in 2021 to ₩21.9T in 2025. Growth was 31.1% in 2022 and has been 2.9% to 5.2% a year since. The data gives no segment breakdown.

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Model estimate of fair value

Bear
₩0
-100%
Base
₩117,249
-69%
Bull
₩357,922
-4%

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 11.6%). Bear and Bull move the main assumptions by fixed steps. See and change the assumptions

Filings and data used

Report history

  1. Oct 21, 2026Update noteModel fair value changeLG Innotek: Model Fair Value Estimate Rises to ₩273,058 per Share After Rate and Input Update
  2. Oct 18, 2026InitiationStart of coverage (redone with new statements)LG Innotek: Sharp Share Price Swings, Thin Margins and a Model Estimate Far Below the Market Price

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