Skip to main content
KREDKRED
103590KOSPI

Iljin Electric

81,400
-6,600 (-7.50%)

Price chart

  • MA5
  • MA20
  • MA60

Adjusted prices rescale past bars with coefficients taken from the base prices the exchange itself published, correcting for corporate actions such as stock splits and reverse splits. Cash dividends are not reflected, and the risk measures on this page never use these adjusted figures.

Market capitalizationKRW 1T

Each day's close multiplied by the listed share count of this share class alone, sampled weekly. It is the figure for this issue only, not a combined total across common and preferred shares.

Overview

Summary

Iljin Electric is a company established in 2008 through a spin-off from ILJIN Holdings. It is listed on the KOSPI market and is headquartered in Hwaseong, Gyeonggi-do.

The company operates as a comprehensive heavy electrical equipment manufacturer. Its business consists of cable and heavy electrical equipment segments, producing products such as ultra-high voltage cables, transformers, and circuit breakers for domestic and international markets.

Business overview as filed

당사는 저압부터 초고압까지 다양한 전압의 전선을 비롯하여 변전소의 필수 설비인변압기, 차단기 등의 중전기기, 그외 전력 시스템을 구성하는 전력기기 등을 생산하는 종합 중전기 기업입니다. 전력망 구성에 필요한 제품을 Total Solution으로 제공함으로써 국내뿐 아니라 까다로운 해외시장에서도 기술력을 인정받고 있습니다.당사는 수익을 창출하는 재화와 용역의 성격, 제품, 제조공정의 특징, 사업부문 구분의 계속성 등을 고려하여, 당사의 사업구분을 전선, 중전기로 세분하였습니다. 전선사업부의 매출액은 1조 5,419억이고, 중전기사업부의 매출액은 4,990억입니다.현재 당사는 Total Solution기업의 강점인 Turnkey방식의 수주를 바탕으로 발전, 송·변전 및 전력시스템을 Total로 제공함으로써 총 매출 중 해외비중을 높이는데 주력하고 있습니다. 2000년 초기 서유럽 및 북미시장을 중심으로 해외시장에 진출한 이래, 해외시장 네트워크 구축에 공격적으로 나서고 있으며, 최근에는 Emerging Market의 급증하는 전력 수요를 담당하는데 중추적인 역할을 수행한 결과 전세계 80여 개국에 진출하는 성과를 얻었습니다.

Company overview

가. 연결대상 종속회사 개황(연결재무제표를 작성하는 주권상장법인이 사업보고서, 분기ㆍ반기보고서를 제출하는 경우에 한함)연결대상 종속회사 현황(요약)

나. 연결대상회사의 변동내용

다. 회사의 법적,상업적 명칭당사의 명칭은 "일진전기 주식회사"라고 표기합니다. 또한, 영문으로는 "ILJIN ELECTRIC CO.,LTD"이라 표기합니다. 단, 약식으로 표기할 경우에는 "일진전기(주)"라고 표기합니다.

라. 설립일자 및 존속기간당사는 2008년 7월 2일부로 일진홀딩스(주)로부터 제조사업부문이 인적분할하여 설립되었습니다. 또한 2008년 8월 1일부로 한국거래소 유가증권 시장에 상장하였습니다.

마. 본사의 주소, 전화번호, 홈페이지 주소주소: 경기도 화성시 만년로 905-17(안녕동)전화번호: 031)220-0500홈페이지: http://www.iljinelectric.co.kr

바. 중소기업 등 해당 여부

당사는「중견기업 성장촉진 및 경쟁력 강화에 관한 특별법」 제2조 제1호에 따라 중견기업에 해당합니다.

사. 주요 사업의 내용 당사는 각종 전선(초고압전선, 중고압전선 등), 전력기기(계폐기, 변압기 등)을 전문적으로 제조, 판매하는 종합 중전기 제조업체 입니다.

아. 신용평가에 관한 사항

보고기간 중 신용평가실적 없으나, 당사의 최근 신용평가는 아래와 같습니다.

개별 신용등급별 정의

주1: AA등급에서 CCC등급까지는 그 상대적 우열 정도에 따라 +, -기호를 첨부할 수 있음.주2: 구조화금융 관련 평가의 경우 등급기호 뒤에 "(sf)"를 부기함.

자. 회사의 주권상장(또는 등록ㆍ지정)여부 및 특례상장에 관한 사항

회사의 주권상장(또는 등록ㆍ지정) 및 특례상장에 관한 사항

Transcribed verbatim from the sentences the filer wrote in the fiscal 2025 business report (received 2026.03.11), tables and figures omitted.

  • The summary is written separately from the filed text and is not the filer's wording, so it may phrase things differently from or omit parts of the original, which is shown alongside for checking.
  • The company introduction reproduces the sentences the filer wrote in its business report, with tables, figures and the sentences that point to other sections of the report omitted, and the accuracy of their content has not been separately verified.

VaR

6.25%
[4.41%, 9.43%] · As of 2026-10-02
VaR by window

The headline's measure for each of the three windows on one scale, the dot being the estimate and the bar its interval. The windows are nested and share their observations, so the three readings are not three independent measurements. The selected window is highlighted.

Daily return distribution

The issue's daily returns over the chosen window counted into equal-width bins. The vertical lines mark the VaR and cVaR above on the loss side. The published VaR sample applies exclusion rules for halts and first sessions that this raw daily series does not, so the bars and the marks can differ slightly at the edges.

Drawdown

Deepest drawdown 68.3% (2026-07-30). How far below its previous peak the issue stood each day over the chosen window, a description of the path already travelled.

If these numbers are unfamiliarThere is a guide that walks through VaR, cVaR and annualized volatility in plain language.Read the guide

Characteristic line

0.88
Beta [0.75, 1.01] · KOSPI200 · As of 2026-10-08
Intercept
+0.131%[-0.412%, +0.673%]
R squared
0.40
Observations
252
Trading-time corrected beta
0.97[0.70, 1.25]
252-day rolling beta

A 252-day window rolled one day at a time over the longest daily span of the characteristic line. It shows when the beta against the KOSPI200 and the annualized volatility of the issue's excess return rose and fell, and unlike the headline figures above it carries no interval.

252-day rolling annualized volatility

Each point is one period's index excess return and issue excess return, and the line is the regression fitted to those points. The risk-free rate is the certificate of deposit rate.

Financials

20152016201720182019202020212022202320242025TTM
RevenueKRW 100M7,1466,7817,6207,3146,6837,0799,32411,64712,46715,77220,44622,078
Revenue growth%—-5.1212.37-4.01-8.635.9331.7024.927.0426.5129.63—
Operating incomeKRW 100M1424560521141382043156087971,5122,023
Operating income growth%—-68.4633.63-12.30118.3320.6048.1054.3592.9331.2589.64—
Net incomeKRW 100M8314-21-1443648————1,0391,406
Net income growth%—-82.97-247.11——33.69——————
Attributable to ownersKRW 100M8314-21-14434521492423454621,0391,406
Attributable to minoritiesKRW 100M———0————0000
Operating margin%1.980.660.780.721.711.952.192.704.875.067.409.16
Net margin%1.170.21-0.27-1.970.540.68————5.086.37
ROE%——-0.66-4.811.121.674.637.029.319.2317.6521.50
ROA%1.130.19-0.28-1.860.460.61————6.818.23
Debt ratio%128.92127.80138.00159.26157.09155.88159.38143.41150.28149.65159.23161.09
Current ratio%69.7375.4395.1279.62111.33110.1397.69112.13112.70115.78115.93119.01
Quick ratio%46.1652.9167.4657.2785.5276.4459.0670.5974.7475.3875.7379.13
Reserve ratio%——759.75712.61721.03736.20772.65828.38901.55947.681,131.271,261.31
Free cash flowKRW 100M223-168-104-395163515-63256253362623—
FCF margin%3.12-2.47-1.36-5.402.447.27-0.672.202.032.293.05—
OCF conversion%320.63-705.34——708.591,196.66————83.61—
Capex to revenue%0.621.001.952.941.380.881.702.141.924.411.20—
Receivable daysdays—69.574.488.3104.493.6——————
Inventory daysdays—45.941.644.946.247.250.447.045.250.260.1—
Payable daysdays—40.993.1176.6189.8153.8——————
Cash conversion cycledays—74.622.9-43.3-39.2-13.0——————
EPSKRW—38-112-390971304036539329832,1792,949
PERx—130.23——31.1924.3812.688.1311.4227.7224.9725.87
BPSKRW——8,5758,0998,1918,3308,7129,30110,00910,49212,34513,719
PBRx——0.520.370.370.380.590.571.062.604.415.56
Dividend per shareKRW806060——60100130220300500—
Payout ratio%—156.75———46.1524.8119.9123.6130.5222.95—

Consolidated basis

Profit flowKRW 100M

Revenue
20,446
Cost of sales
17,641
Gross profit
2,804
Operating income
1,512
SG&A expenses
1,292
Profit before tax
1,424
Non-operating expenses
88
Net income
1,039
Income tax expense
385

This diagram traces where revenue goes at each step on its way to net income, using the filed amounts as they are. The non-operating result is taken as the difference between profit before tax and operating income and is shown as income or expense by its sign, and whatever a step's items leave unexplained is shown separately as other.

Revenue compositionKRW 100M

Margins%

Cash flow by activityKRW 100M

Balance sheet compositionKRW 100M

Debt ratio%

The left bar splits assets into current and non-current and the right bar splits the financing of those assets into liabilities and equity, so the two bars stand at the same height.

Quarterly resultsKRW 100M

Year-on-year growth%

Each quarterly bar is that quarter's three months and is never mixed with an annual figure. The growth rate is computed only where the same quarter a year earlier is also shown here, and is left blank when the base was a loss.

Cash conversion cycledays

Free cash flow breakdownKRW 100M

Inventory days and receivable days stack upward, payable days hang downward, and the cash conversion cycle they net to is drawn as the line. Each day count uses the average balance with the prior year, so the oldest year is not drawn. A day count whose line was not filed is left out, and the cycle is shown only for years that carry all three.

Free cash flow is cash from operating activities less spending on property, plant and equipment, and all three bars keep the sign as filed.

Owners' net margin%

Asset turnoverx

Financial leveragex

ROE%

ROE is the product of the owners' net margin, asset turnover and financial leverage. All three use period-end balances as denominators, and profit and equity are on the owners' basis, so the product matches the ROE in the table.

Financial statements

Balance sheet

20152016201720182019202020212022202320242025
7,3547,2887,5687,7867,8087,9048,3798,3959,289*12,49015,260
4,1424,0884,3884,7834,771*4,8155,1494,9465,577*7,4879,373
3,2133,1993,1803,0033,037*3,0893,2313,4493,711*5,0035,887

Income statement

20152016201720182019202020212022202320242025
7,1466,7817,6207,3146,6837,0799,32411,64712,467*15,77220,446
142456052114138204315608*7971,512
9657-18-1312950197277436*6381,424
8314-21-1443648Not applicableNot applicableNot applicableNot applicable1,039
Basic earnings per shareKRWNot applicableNot applicable-112*-39097130403653932*9832,179
Diluted earnings per shareKRWNot applicableNot applicable-112*-39097130403653932*9822,179
107163-14834*52Not applicableNot applicableNot applicableNot applicable1,013

Cash flow statement

20152016201720182019202020212022202320242025
Net incomefrom the income statement8314-21-1443648————1,039
Total adjustments to operating cash flowcomputed184-11466-35219528————-170
267-10045-18025557796506492*1,057869
93163-246-288-23-77-65-106-187*-688-351
-438-41159430-90-348-212-278-116*460-534
Cash at beginning of periodKRW 100M254190216169131277406237395*5671,400
190216169131277406237395567*1,4001,376
Net change in cash and cash equivalentsKRW 100M-7821*-47Not applicableNot applicableNot applicableNot applicableNot applicableNot applicable829Not applicable

In the latest fiscal year cash generated by operations covered both investing outflows and financing outflows.

A year whose own filing is absent is filled from the restated comparative in the following filing, and is marked as such. Operating indicators outside the statements, such as order backlogs, and audit opinions are not covered here, and per-share figures follow the filed values without retroactive adjustment for share splits.

Transcribed verbatim from the sentences the filer wrote in the fiscal {year} business report (received {date}), with tables, figures and cross-references to other sections omitted.

The newest annual filing shown was received on 2026.03.11.

Audit opinion

Fiscal yearOpinionAuditorFiscal year end
2025적정의견Term 18삼정회계법인2025-12-31
2024적정의견Term 17삼정회계법인2025-12-31
2023적정의견Term 16삼정회계법인2025-12-31
2022적정Term 15삼덕회계법인2022-12-31
2021적정Term 14삼덕회계법인2022-12-31
2020적정Term 13삼덕회계법인2022-12-31
2016적정Term 9안진회계법인2016-12-31
2015적정Term 8안진회계법인2016-12-31
2014적정Term 7안진회계법인2016-12-31

The auditor's name and the opinion are transcribed verbatim from the filed audit report, and the wording follows the filer. A fiscal year shown twice means the filing carried two entries that the source does not distinguish.

Korean audit opinions come in four kinds, where an unqualified opinion (적정) finds the statements fairly presented, a qualified opinion (한정) does so except for a stated matter, an adverse opinion (부적정) finds them not fairly presented, and a disclaimer of opinion (의견거절) means the auditor could not obtain enough evidence to form a view.

Valuation

Valuation multiplesx

PER and PBR divide each period's closing price by the per-share figure filed for that same period, and a loss period is left blank. The quarterly view is a multiple of quarterly EPS.

Dividend historyKRW

The dividend-per-share bars are restated onto the current share basis for splits and par-value changes. The payout ratio and the dividend yield divide figures filed for the same period and are left unadjusted.

Payout ratio and dividend yield%

PER bandKRW

The price is the adjusted close and each band line multiplies the EPS of the latest completed fiscal year by a fixed multiple. The previous year's EPS stays in force until the next fiscal year ends, and the multiples divide the range between the lowest and highest annual PER on record into equal steps.

Valuation models

Five models priced under one set of assumptions, set beside the current price, with how each has moved by fiscal year.

Assumptions

Risk-free rate10-year treasury yield · 2026-10-084.40%
BetaDaily 5Y0.95
%
%
Cost of equity9.16%
Weighted average cost of capital9.15%
Initial growth13.6%
Effective tax rate27.1%
Base fiscal year2025
Current priceKRW81,400

The risk premium and the terminal growth rate are adjustable assumptions, and the rest follow from the data and the formulas.

ModelModel priceKRWVersus current price
Gordon growth model7,118-91.3%
Dividend discount model DDM9,197-88.7%
Discounted cash flow FCFF28,027-65.6%
Discounted cash flow FCFE6,287-92.3%
Residual income model RIM33,562-58.8%
The table prices the newest fiscal year's accounts at today's treasury yield and the current price.

Dividend and residual income familyKRW

Discounted cash flow familyKRW

Each fiscal year's figures use that year's accounts and the treasury yield at its period end, with beta held at its current value, and splits or par changes are restated to the current share basis.

How the figures are calculated

Each model's formula is shown in symbols and then with this issue's own numbers substituted, step by step. Changing a value in the assumptions panel changes the numbers here too. Firm-level amounts are in hundred million won and per-share values in won.

Cost of equity

r=rf+β×ERPr = r_f + \beta \times \mathit{ERP}

r = 4.40% + 0.95 × 5.00% = 9.16%

Initial growth

g1=max⁡{ROE×(1−payout), 0},gt=g1+(gT−g1) t−1N−1g_1 = \max\{\mathit{ROE} \times (1 - \text{payout}),\,0\},\qquad g_t = g_1 + (g_T - g_1)\,\frac{t-1}{N-1}

g_1 = max(17.65% × (1 − 22.95%), 0) = 13.60%

Growth starts at this value in the first year and falls by equal steps each year to reach the terminal rate in the fifth

Gordon growth model

P0=D0 (1+gT)r−gTP_0 = \frac{D_0\,(1 + g_T)}{r - g_T}

P_0 = 500 × (1 + 2.00%) / (9.16% − 2.00%) = 510 / 0.0716 = 7,118 KRW

Dividend discount model DDM

P0=∑t=1NDt(1+r)t+DN(1+gT)(r−gT) (1+r)N,Dt=Dt−1(1+gt)P_0 = \sum_{t=1}^{N} \frac{D_t}{(1+r)^t} + \frac{D_N (1+g_T)}{(r - g_T)\,(1+r)^N},\qquad D_t = D_{t-1}(1+g_t)

D_0 = 500, g_1 = 13.60%, g_T = 2.00%, r = 9.16%

YearGrowthDividend KRWDiscount factorPresent value KRW
113.60%5680.9160520
210.70%6290.8391528
37.80%6780.7687521
44.90%7110.7042501
52.00%7250.6450468
Terminal value2.00%10,3250.64506,660
Total9,197

P_0 = 9,197 KRW

Residual income model RIM

P0=B0+∑t=1NRIt(1+r)t+RIN(1+gT)(r−gT) (1+r)N,RIt=(ROE−r) Bt−1P_0 = B_0 + \sum_{t=1}^{N} \frac{\mathit{RI}_t}{(1+r)^t} + \frac{\mathit{RI}_N (1+g_T)}{(r - g_T)\,(1+r)^N},\qquad \mathit{RI}_t = (\mathit{ROE} - r)\,B_{t-1}

B_0 = 12,345 KRW, ROE = 17.65%, payout ratio = 22.95%, r = 9.16%, g_T = 2.00%

YearOpening book valueEarningsEquity chargeResidual incomeDiscount factorPresent value
112,3452,1791,1311,0470.9160959
214,0242,4751,2851,1900.8391998
315,9312,8111,4601,3510.76871,039
418,0973,1941,6591,5350.70421,081
520,5583,6281,8841,7440.64501,125
Terminal value24,8280.645016,015

P_0 = 12,345 + 5,202 + 16,015 = 33,562 KRW

Discounted cash flow FCFF

FCFF0=CFO−CapEx+Int (1−τ),WACC=ED+E r+DD+E kd (1−τ)\mathit{FCFF}_0 = \mathit{CFO} - \mathit{CapEx} + \mathit{Int}\,(1-\tau),\qquad \mathit{WACC} = \frac{E}{D+E}\,r + \frac{D}{D+E}\,k_d\,(1-\tau)

Base-year cash flow FCFF

FCFF_0 = 868.6 − 245.6 + 51.4 × (1 − 27.06%) = 660.5 KRW hundred million

Weighted average cost of capital

E = 38,815.9, D = 180.0 KRW hundred million; equity weight = 99.54%, debt weight = 0.46%; cost of debt k_d = 9.16%

WACC = 99.54% × 9.16% + 0.46% × 9.16% × (1 − 27.06%) = 9.15%

Vfirm=∑t=1NFCFFt(1+WACC)t+FCFFN(1+gT)(WACC−gT) (1+WACC)N,FCFFt=FCFFt−1(1+gt),P0=Vfirm−D+CashSharesV_{\text{firm}} = \sum_{t=1}^{N} \frac{\mathit{FCFF}_t}{(1+\mathit{WACC})^t} + \frac{\mathit{FCFF}_N (1+g_T)}{(\mathit{WACC} - g_T)\,(1+\mathit{WACC})^N},\qquad \mathit{FCFF}_t = \mathit{FCFF}_{t-1}(1+g_t),\qquad P_0 = \frac{V_{\text{firm}} - D + \text{Cash}}{\text{Shares}}
YearGrowthCash flow KRW hundred millionDiscount factorPresent value KRW hundred million
113.60%750.30.9161687.4
210.70%830.60.8393697.1
37.80%895.40.7689688.5
44.90%939.30.7045661.7
52.00%958.00.6454618.3
Terminal value2.00%13,660.60.64548,816.3
Total12,169.2

Firm value = 12,169.2; less borrowings 180.0; plus cash 1,375.6 → 13,364.9 KRW hundred million

P_0 = 13,364.9 KRW hundred million ÷ 47,685,390 (shares) = 28,027 KRW

Discounted cash flow FCFE

FCFE0=CFO−CapEx+ΔD,P0=1Shares[∑t=1NFCFEt(1+r)t+FCFEN(1+gT)(r−gT) (1+r)N],FCFEt=FCFEt−1(1+gt)\mathit{FCFE}_0 = \mathit{CFO} - \mathit{CapEx} + \Delta D,\qquad P_0 = \frac{1}{\text{Shares}}\left[\sum_{t=1}^{N} \frac{\mathit{FCFE}_t}{(1+r)^t} + \frac{\mathit{FCFE}_N (1+g_T)}{(r - g_T)\,(1+r)^N}\right],\qquad \mathit{FCFE}_t = \mathit{FCFE}_{t-1}(1+g_t)

Base-year cash flow FCFE

FCFE_0 = 868.6 − 245.6 + -460.0 (net borrowing) = 163.0 KRW hundred million

YearGrowthCash flow KRW hundred millionDiscount factorPresent value KRW hundred million
113.60%185.10.9160169.6
210.70%204.90.8391172.0
37.80%220.90.7687169.8
44.90%231.80.7042163.2
52.00%236.40.6450152.5
Terminal value2.00%3,365.40.64502,170.8
Total2,997.9

P_0 = 2,997.9 KRW hundred million ÷ 47,685,390 (shares) = 6,287 KRW

The cost of equity is the risk-free rate plus beta times the equity risk premium. Initial growth is the newest fiscal year's return on equity times its retention ratio, floored at zero, and falls by equal steps from that value in the first year to the terminal rate in the fifth. Only the Gordon model grows at the terminal rate from the start. Discounted cash flow starts from operating cash flow less capital expenditure, where FCFF adds after-tax interest paid and discounts at the weighted average cost of capital, and FCFE adds net borrowing and discounts at the cost of equity. The residual income model adds to book value per share the present value of earnings above the equity charge.

Other issues on the same market

Neighbours in the market capitalisation order.

See the full KOSPI list