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KREDKRED
137400KOSDAQ

People & Technology

33,000
+700 (+2.17%)

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

People & Technology is a company established on December 29, 2003, in Gumi, Gyeongsangbuk-do. The company is listed on the KOSDAQ market.

The company provides manufacturing equipment based on Roll-to-Roll technology. Its business segments include secondary battery equipment for electrode processes and electronic material equipment for copper foil and films. Main products include coaters, presses, slitters, and notching equipment supplied to battery cell manufacturers and electronic material producers.

Business overview as filed

주식회사 피엔티는 Roll-to-Roll(RtoR) 기반의 정밀 공정 기술을 바탕으로, 2차전지 전극 공정 및 전자소재 제조 장비를 공급하는 장비 전문 기업입니다.

RtoR 공정은 연속된 필름 또는 금속박(Web)을 회전 롤에 감아가며 도포(Coating), 압연(Pressing), 절단(Slitting), 권취(Winding) 등의 공정을 고속·고정밀로 수행하는 자동화 설비로, 고속성, 정밀도, 공정 안정성이 동시에 요구되는 분야입니다. 피엔티는 이러한 RtoR 기술에 대한 독보적인 전문성을 바탕으로, 고객 맞춤형 고성능 장비를 지속적으로 개발해 왔습니다.

특히 2012년 리튬이온전지 극판용 고속 광폭 코터(Coater) 개발을 통해 기술력을 입증한 이후, 2차전지 장비 분야에서 고속·광폭 양산 장비를 지속적으로 공급하고 있으며, 동박, 분리막, 파우치용 필름 등 첨단 전자소재 제조 장비도 함께 제작하고 있습니다.

당사는 2차전지 뿐만 아니라 첨단 소재, 자동화, 제약·의료 등 다양한 산업군에서 RtoR 기반 공정 솔루션을 제공하고 있습니다.

주요 제품.jpg 주요 제품

■ 사업 부문별 개요당사가 영위하고 있는 사업부문을 요약하면 다음과 같습니다.

[ ㈜피엔티 사업부문 개요 ]

1) 2차전지 사업부 2차전지 사업부는 전기차, ESS, 모바일 기기 등에 적용되는 전극(양극·음극)의 제조 공정을 구성하는 핵심 장비를 공급 및 개발하고 있습니다. 주요 장비로는 코팅(Coater), 압연(Press), 절단(Slitter), 노칭(Notching) 장비 등이 있습니다.

장비 단품 외에도 전극 공정 전체를 아우르는 Turn-key 공급 역량을 보유하고 있습니다. 고객 맞춤형 설계 기반의 공정 통합 역량을 통해 코팅, 프레스, 슬릿, 노칭을 하나의 라인으로 통합한 Turn-key 프로젝트를 다수 수행하고 있으며, 이는 고객사의 초기 생산라인 투자 효율을 극대화하고, 당사의 수익성 제고에도 기여하고 있습니다. 또한, 주요 글로벌 셀 제조사들과의 협력을 통해 초대형화 및 공정 통합형 장비 개발이 가속화되고 있으며, 고부가가치 프로젝트 수주 비중도 꾸준히 증가하고 있습니다.

맞춤형 턴키 솔루션, 양산 장비, Lab & Pilot 장비는 물론, 건식 공정과 전고체 배터리와 같은 최첨단 기술 개발에 이르기까지 폭넓게 전개되고 있습니다. 배터리 소재에서부터 공정별 장비, 완제품에 이르는 Full Value Chain을 완성함으로써 단순한 장비 공급을 넘어, 공정 설계와 기술 컨설팅, 협력 네트워크 연계를 포함한 End-to-End 제조 파트너십을 제공하고 있습니다.

2차전지 생산 공정도.jpg 2차전지 전극 공정

2) 소재 사업부

소재 사업부는 전지박(동박), 광학필름, OCA 필름 등 고기능 전자소재의 생산에 사용되는 특수 장비를 공급하고 있습니다. 대표 장비에는 전해도금기, 연마기, 세정기, 제박기, 슬리터 등이 있으며, 특히 정밀한 두께 제어와 고속 가공이 가능한 설계 경쟁력을 바탕으로 국내외 시장 점유율을 확대하고 있습니다.

디스플레이용 필름을 포함해 다양한 산업용 필름의 코팅 및 슬리터링 장비를 생산하며 고속 정밀 코팅 및 UV 경화 기술로 최상의 제품을 생산하며 전자재료 및 전자기기 생산 장비를 제조하고 있습니다 뿐만 아니라, AI를 접목한 정밀 자동화 장비로서 MLCC Auto Line, 임플란트 가공라인 등 물류 자동화를 위한 중앙 통제 시스템을 제공하고 있습니다.

동박 생산 공정도.jpg 동박 생산 공정

■ 국산화 및 기술개발 이력

주식회사 피엔티는 2000년대 초부터 일본·독일 중심의 외산 장비를 대체하기 위한 국산화를 지속적으로 추진해왔으며, 주요 고객사들과의 협업을 통해 전극 및 소재 제조용 특화 장비의 상용화에 성공하였습니다. 특히 고속 압연 프레스, 건식 도포 Notching, 다단 Press-Slitter 통합라인 등에서 세계 최초 양산 실적을 보유하고 있으며, 기술 차별성과 선행 개발 역량을 입증하였습니다.

Company overview

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

1-1. 연결대상회사의 변동내용

2. 회사의 법적ㆍ상업적 명칭

당사의 명칭은 주식회사 피엔티라고 표기합니다.또한 영문으로는 People & Technology, Inc (PNT) 라고 표기합니다.

3. 설립일자 및 존속기간(영구적으로 존속하는 경우에는 제외한다.)

당사는 Roll to Roll 기술을 바탕으로 2차전지 전극공정 장비(양극, 음극, 분리막 생산장비)와 Copper(전지박) 및 각종 IT용 소재를 생산하는 장비의 제작 판매를 주요 사업으로 하여 2003년 12월 29일에 경상북도 구미시 공단동에서 설립되었으며, 2020년 10월 26일 경상북도 구미시 첨단기업로 33 으로 본사 이전하였습니다.

4. 본사의 주소, 전화번호, 홈페이지 주소

5. 회사사업 영위의 근거가 되는 법률(해당하는 경우에만 기재한다)

- 해당사항 없습니다.

6. 중소기업 등 해당 여부

7. 주요 사업의 내용(주요제품 및 서비스 등을 포함한다) 및 향후 추진하려는 신규사업에 관한 간략한 설명 당사의 주요 사업(사업부문)과 사업내용은 다음과 같습니다.

8. 회사의 주권상장(또는 등록ㆍ지정) 및 특례상장에 관한 사항

Transcribed verbatim from the sentences the filer wrote in the fiscal 2025 business report (received 2026.03.16), 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

4.93%
[3.49%, 7.10%] · 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 58.6% (2026-07-29). 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

0.96
Beta [0.86, 1.06] · KOSDAQ150 · As of 2026-10-08
Intercept
-0.031%[-0.314%, +0.253%]
R squared
0.62
Observations
252
Trading-time corrected beta
1.01[0.84, 1.17]
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 KOSDAQ150 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 100M9131,0851,4982,5673,2143,9003,7774,1785,45410,3517,4496,987
Revenue growth%—18.8737.9871.3825.2121.36-3.1610.6130.5489.78-28.04—
Operating incomeKRW 100M-27510338155535447787691,632956712
Operating income growth%——37.46-63.45-60.643,642.13-1.6142.93-1.08112.19-41.40—
Net incomeKRW 100M-229227-303445275976851,422695788
Net income growth%——-22.83-66.86-507.41—53.1513.2214.75107.72-51.13—
Attributable to ownersKRW 100M—294419-203565356026981,420743833
Attributable to minoritiesKRW 100M——-21-11-10-12-8-5-133-48-45
Operating margin%-0.216.886.861.460.4614.1814.4018.6114.1015.7712.8410.19
Net margin%-0.252.671.490.29-0.948.8213.9514.2812.5513.749.3311.28
ROE%—5.236.822.48-2.5526.6628.6724.8915.3123.0810.7311.32
ROA%-0.231.890.930.25-0.607.909.145.494.288.784.053.93
Debt ratio%89.22193.34308.15317.62597.96248.63224.33366.52244.59159.43146.08169.96
Current ratio%238.03115.32114.32119.98104.44106.31120.48113.15116.06127.57136.73148.75
Quick ratio%149.8657.4836.8749.1635.2038.4740.5623.1323.1942.1249.6364.06
Reserve ratio%1,312.001,376.941,515.911,586.01753.371,125.681,576.242,075.903,511.034,614.765,168.745,340.54
Free cash flowKRW 100M-121-75-146-232-290148172-219-1,657-338-1,232—
FCF margin%-13.23-6.90-9.78-9.02-9.033.794.57-5.25-30.37-3.26-16.55—
OCF conversion%—-47.44-551.36-1,933.53—78.5579.5559.00-58.3127.926.40—
Capex to revenue%9.975.641.553.4510.413.146.5313.6823.057.1017.14—
Receivable daysdays—87.948.27.18.8———————
Inventory daysdays—168.3263.1206.7259.0265.8296.6599.4737.5405.6470.9—
Payable daysdays—62.434.12.6103.2———————
Cash conversion cycledays—193.8277.1211.2164.5———————
EPSKRW-31387581225-1151,7172,4072,7043,1366,2313,1313,516
PERx—27.6523.4947.56—14.2418.2016.0316.076.0712.0110.48
BPSKRW—7,2888,0978,6214,2586,0158,20010,62920,03725,90129,18131,061
PBRx—1.471.691.241.694.075.344.082.521.461.291.19
Dividend per shareKRW—————100150100—100200—
Payout ratio%—————5.826.233.70—1.606.39—

Consolidated basis

Profit flowKRW 100M

Revenue
7,449
Cost of sales
6,087
Gross profit
1,362
Operating income
956
SG&A expenses
406
Profit before tax
881
Non-operating expenses
76
Net income
695
Income tax expense
182
Other
4

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
1,0181,5352,4092,9095,003*4,3545,76410,87916,01316,20317,181
4801,0121,8192,2124,286*3,1053,9878,54711,3669,95710,199
5385235906977171,2491,7772,3324,6476,2466,982

Income statement

20152016201720182019202020212022202320242025
9131,0851,4982,5673,2143,9003,7774,1785,45410,351*7,449
-27510338155535447787691,632*956
-6495439-354377097258311,847*881
-229227-303445275976851,422695
Basic earnings per shareKRW-31387581225*-1151,7172,4072,7043,1366,231Not applicable
Diluted earnings per shareKRW-31387568220*-1151,7172,4072,7042,7655,627Not applicable
-321197*-293435385816541,599723

Cash flow statement

20152016201720182019202020212022202320242025
Net incomefrom the income statement-229227-303445275976851,422695
Total adjustments to operating cash flowcomputed-27-43-146-15174-74-108-245-1,084-1,025-651
-30-14-123-14344270419352-39939744
-116-23-9-46-399-95-245-677-1,365-678-1,213
11829103242327-70-201881,8503771,300
Cash at beginning of periodKRW 100M865748176942147309162246353
5748176942147309162246353486
Net change in cash and cash equivalentsKRW 100M-29-9-3152-27105162-14684107133

In the latest fiscal year operating and financing activities brought cash in while investing activities spent it.

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 2026.03.16.

Audit opinion

Fiscal yearOpinionAuditorFiscal year end
2025적정의견Term 23성현회계법인2025-12-31
2024적정의견Term 22성현회계법인2025-12-31
2023적정의견Term 21성현회계법인2025-12-31
2022적정Term 20다산회계법인2022-12-31
2021적정Term 19다산회계법인2022-12-31
2020적정Term 18다산회계법인2022-12-31
2019적정Term 17선일회계법인2019-12-31
2018적정Term 16경신회계법인2019-12-31
2017적정Term 15경신회계법인2019-12-31
2016적정Term 14경신회계법인2016-12-31
2015적정Term 13경신회계법인2016-12-31
2014적정Term 12경신회계법인2016-12-31

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 equity9.17%
Weighted average cost of capital—
Initial growth10.0%
Effective tax rate20.7%
Base fiscal year2025
Current priceKRW33,000

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 model2,846-91.4%
Dividend discount model DDM3,407-89.7%
Discounted cash flow FCFFBase-year cash flow not positive
Discounted cash flow FCFEBase-year cash flow not positive
Residual income model RIM37,441+13.5%
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% = 9.17%

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(10.73% × (1 − 6.39%), 0) = 10.04%

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 = 200 × (1 + 2.00%) / (9.17% − 2.00%) = 204 / 0.0717 = 2,846 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 = 200, g_1 = 10.04%, g_T = 2.00%, r = 9.17%

YearGrowthDividend KRWDiscount factorPresent value KRW
110.04%2200.9160202
28.03%2380.8391200
36.02%2520.7686194
44.01%2620.7041185
52.00%2670.6450172
Terminal value2.00%3,8060.64502,455
Total3,407

P_0 = 3,407 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 = 29,181 KRW, ROE = 10.73%, payout ratio = 6.39%, r = 9.17%, g_T = 2.00%

YearOpening book valueEarningsEquity chargeResidual incomeDiscount factorPresent value
129,1813,1312,6754560.9160418
232,1133,4462,9445020.8391421
335,3383,7923,2405520.7686424
438,8884,1733,5656080.7041428
542,7944,5923,9236690.6450431
Terminal value9,5160.64506,137

P_0 = 29,181 + 2,122 + 6,137 = 37,441 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.

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