SNTEnergySNT에너지

SNTEnergy trades at a low multiple after a steep share price fall, even though trailing profits remain high.

SNTEnergy, a Korean maker of heat exchangers, heat recovery boilers and emissions equipment for power and petrochemical plants, reported trailing twelve-month revenue of ₩582B and net income of ₩110B to H1 2026. Its shares closed at ₩25,250, down 49.6% over one year, giving a market value of about ₩499B, a P/E of 4.5 and a 4.6% dividend yield. The data includes a DCF model with a base value of ₩55,880, but that is a model output, not a forecast or a rating.

What stands out

• Profitability is strong on the trailing numbers: operating margin is 19.8% and ROE is 31.1%, compared with 7.6% operating margin in 2024.
• 2025 revenue rose 106% to ₩606B, but 2024 revenue had fallen 8.6%, so the business has been volatile year to year.
• Free cash flow was only about ₩6.0B on the trailing basis, far below net income, and cash is ₩86.7B; borrowings are not reported in the data.
• Foreign ownership fell from 3.1% to 1.6% over about 60 days, and retail investors were net sellers of about ₩4.1B over the last 20 days while foreign investors were net buyers of about ₩3.2B.
• Recent filings include several major sales or supply contracts (July, September and October 2026), a half-year report, a cash dividend decision and a share cancellation decision.

What to watch

• The next earnings release, which is not in the data, and whether the strong trailing profit continues given the 2024 to 2025 swings.
• Dividend record date and share cancellation details, which could affect the 4.6% yield and the share count.
• Progress on the Saudi Arabia power market push and the size and timing of new supply contracts, as reported in recent news.