Seoho Electric서호전기

Seoho Electric's trailing profits are strong at a 22% margin, but 2026 revenue has fallen well below 2025's peak.

Seoho Electric, a Seoul-listed maker of port crane control systems and inverters, reported trailing twelve-month revenue of ₩101.4B and operating income of ₩22.5B to H1 2026, with a net margin of 22.1%. The share price closed at ₩44,650 on 26 October 2026, about 25% below its 52-week high of ₩59,900 and 18% above its low of ₩37,700. Its 2025 revenue of ₩116.6B was a sharp rebound from ₩46.5B in 2024, so the trend is volatile.

What stands out

• Trailing margins are high: operating margin 22.2% and ROE 23.1%, compared with 3.5% operating margin in 2024.
• Annual revenue swung widely over 2021 to 2025, with 2024 down 29.8% and 2025 up 151%, so results depend heavily on large project timing.
• Valuation metrics are modest: P/E about 10.3, P/B 2.2, and a stated dividend yield of 13.4%.
• Cash of ₩61.7B is reported with no borrowings listed, and liabilities are 32.5% of equity.
• Recent filings include several major sales or supply contracts (June and August 2026, and an amendment in October 2026), and an interim dividend record date was set in June.
• Foreign ownership rose from 2.1% to 2.6% over about 60 days, while the 20-day flows show foreign and institutional net selling and retail net buying.

What to watch

• The half-year 2026 filings and the next quarterly report will show whether revenue recovers toward the 2025 level.
• The October 2026 amendment to a major supply contract, and whether further contract filings follow, could affect the order outlook.
• The data does not include news headlines, and the DCF fair value range (₩68,439 bear to ₩143,188 bull) is a model output, not a forecast; customer concentration with PSA in Singapore is a risk named in the company profile.