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JONBUR Research · Initiation

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DY Power · 210540 · Machinery

DY Power: Low Multiples and Steady Profits, but Flat Revenue and a Share Price Down 12.0% Over a Year

Why this report

Start of coverage: written when a reader opened this company and there was no report yet.

DY Power (KOSPI, Machinery) closed at ₩10,850 on 2026-10-19, with a market cap of about ₩119.8B and a trailing P/E of 3.7 and P/B of 0.4. Trailing profit has improved from 2025, while revenue has been roughly flat for several years and the share price is down 12.0% over one year.

Written Oct 20, 2026 · Data as of Oct 19, 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 profitable, lightly indebted company trading at low multiples relative to its own earnings and book value. Trailing operating margin is 8.8% and ROE is 10.2%, both above 2025 levels (8.0% and 8.3%). Liabilities are 25.6% of equity and the trailing free cash flow is ₩33.9B. The data does not show a clear growth story: annual revenue fell from ₩437.2B in 2021 to ₩382.8B in 2025. Low multiples have persisted for years (year-end P/E between 4.6 and 7.6, P/B between 0.4 and 0.6), so a low multiple alone has not led to a re-rating in this data. Investor flows over 20 days are mixed: retail was net buying while foreigners and institutions were net selling, though the amounts are small. No news headlines are available.

Business overview

DY Power is listed on KOSPI in the Machinery sector. It was founded on 2014-12-03 and listed on 2015-01-15, with 11,041,708 listed shares. The CEO is listed as 박치웅. Revenue was ₩437.2B in 2021, ₩419.0B in 2022, ₩430.0B in 2023, ₩384.6B in 2024 and ₩382.8B in 2025. Trailing revenue to H1 2026 is ₩400.6B. Product lines and segment detail are not available in the data. Foreign ownership is 13.0%, versus 13.1% sixty days ago.

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Model estimate of fair value

Bear
₩13,613
+30%
Base
₩25,136
+140%
Bull
₩45,222
+331%

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 7.5%). 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 changeDY Power: Model Fair Value Estimate Rises 56% to ₩39,154 per Share
  2. Oct 20, 2026InitiationStart of coverage (reader request)DY Power: Low Multiples and Steady Profits, but Flat Revenue and a Share Price Down 12.0% Over a Year

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