Daehan Shipbuilding
Price chart
- MA5
- MA20
- MA60
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
Daehan Shipbuilding was established on September 30, 1987, as Shinyoung Shipbuilding and changed its name in 2004. The company is listed on the KOSPI market.
The company specializes in the design and construction of medium and large vessels. Its main products include crude oil tankers, petroleum product tankers, container ships, and shuttle tankers for global shipowners.
Business overview as filed
당사는 중형(Aframax) 및 준대형(Suezmax) 선박의 설계 및 건조에 특화된 기업으로 원유운반선, 석유제품운반선, 컨테이너선 등 다양한 선박을 건조하고 있습니다. 조선업은 전 세계가 단일 시장을 형성하고 있으며 세계 각국의 선주들이 발주한 입찰에 참여하는 구조로 세계 시장을 대상으로 사업을 영위하고 있습니다.당사는 설립 초기 벌크선[180K, 207K]이 주력 제품군이었으나, 현재는 원유운반선(Suezmax, Aframax), 정유운반선(Aframax), 셔틀탱커 등의 탱커선과 컨테이너선(8,000TEU 급)을 주력 선종으로 건조하고 있습니다.
가. 사업의 현황
나. 주요 사업의 특성조선산업은 대형 구조물인 선박의 건조 과정이 다양하고 복잡하기 때문에 자동화에 한계가 있어 다수의 기술 및 기능 인력을 필요로 하는 노동집약적 산업입니다. 동시에 넓은 공장 부지와 기반 시설이 필요한 장치산업의 특성을 가지고 있으며, 건조기간이 길어 장기간의 운영자금 조달 능력을 갖춰야 하는 자본집약적인 특징도 가지고 있습니다. 조선산업은 주문형 생산방식으로 고객의 요구에 따라 선박의 설계가 달라지며, 수십에서 수만 개의 기자재·부품을 관리하고 적시에 탑재하거나 조립해야 하므로 기술집약적인 성격도 강합니다.
또한 선박을 발주하는 해운, 에너지, 방위, 레저 및 수산업 등의 전방산업과, 소재 및 부품을 공급하는 철강, 기계, 전기·전자, 화학 등의 후방산업에 대한 연관효과가 큰 산업입니다.
산업의 특성!.jpg 조선산업의 특성 상선의 경우 세계가 단일 시장이고 고객이 한정돼 있어, 자본·기술·노동·전후방산업을 모두 갖춘 한·중·일 3국이 주로 경쟁구도를 이루고 있습니다. 산업과 관련된 생태계를 갖춰야만 종합경쟁력을 보유할 수 있어서 한·중·일을 제외하면 이렇다 할 후발 국가가 없는 상태입니다.
조선업은 선박의 수주에서 인도까지 통상 2~3년이 소요되는 장기 프로젝트의 특성을 갖고 있는데 반해, 선박대금의 결제조건이 대부분 Heavy-Tail 방식으로 계약이 체결되고 있어, 선박건조를 위한 장기간의 운영자금 조달능력과 함께 철저한 프로젝트 관리 역량이 요구되는 산업입니다.
다. 주요 원재료 및 생산능력
(1) 주요 원재료 등의 현황
(2) 생산능력
Company overview
가. 연결대상 종속회사 개황(1) 연결대상 종속회사 현황(요약)
(2) 연결대상회사의 변동내용
나. 회사의 법적, 상업적 명칭
당사의 명칭은 『대한조선 주식회사』이며, 영문으로는 『DAEHAN SHIPBUILDING CO., LTD.』로 표기합니다.
다. 설립일자 및 존속기간
당사는 선박의 건조를 주 사업목적으로 1987년 9월 30일 신영조선공업 주식회사라는 상호로 설립되었으며, 2004년 8월 대한조선 주식회사로 상호를 변경하였습니다.
라. 본사의 주소, 전화번호, 홈페이지 주소
마. 중소기업 등 해당 여부
바. 주요 사업의 내용
당사는 중형(아프라막스) 및 준대형(수에즈막스) 선박의 설계 및 건조에 특화된 기업으로 원유운반선, 석유제품운반선, 컨테이너선, 셔틀탱커 등 다양한 선박을 건조하는사업을 영위하고 있습니다.
사. 신용평가에 관한 사항
해당사항이 없습니다.
아. 회사의 주권상장(또는 등록ㆍ지정) 및 특례상장에 관한 사항
Transcribed verbatim from the sentences the filer wrote in the fiscal 2025 business report (received 2026.03.23), 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.
The conditions for computing a value are not met over this window, which happens when the listing is short, turnover is thin, or halts are frequent.
Characteristic line
No window of this issue can carry a characteristic line yet.
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.
- Beta summarizes by regression how far the issue's return moved together with the KOSPI200 or KOSDAQ150 index return, and the index is only a stand-in for the whole market.
- The intercept is the average excess return the index does not explain, and when the interval shown beside it contains zero it cannot be told apart from zero.
- Beta and the intercept are computed from the sample of the chosen window and frequency and are not values for the period ahead.
- At the daily frequency a beta corrected for differences in trading times is shown alongside, and the gap between the two shows how much later than the index the issue's trades are reflected.
Financials
| 2024 | 2025 | TTM | |
|---|---|---|---|
| RevenueKRW 100M | 10,753 | 12,281 | 12,871 |
| Revenue growth% | — | 14.21 | — |
| Operating incomeKRW 100M | 1,581 | 2,941 | 3,397 |
| Operating income growth% | — | 86.07 | — |
| Net incomeKRW 100M | 1,727 | 2,488 | 3,006 |
| Net income growth% | — | 44.09 | — |
| Attributable to ownersKRW 100M | 1,727 | 2,488 | 3,006 |
| Attributable to minorities | Not applicable | Not applicable | Not applicable |
| Operating margin% | 14.70 | 23.95 | 26.39 |
| Net margin% | 16.06 | 20.26 | 23.36 |
| ROE% | 38.08 | 22.77 | 25.08 |
| ROA% | 12.79 | 16.17 | 17.06 |
| Debt ratio% | 197.60 | 40.80 | 47.03 |
| Current ratio% | 108.39 | 273.59 | 233.68 |
| Quick ratio% | 104.39 | 264.84 | 226.61 |
| Reserve ratio% | 170.33 | 446.30 | 501.58 |
| Free cash flowKRW 100M | 1,527 | 1,532 | — |
| FCF margin% | 14.20 | 12.47 | — |
| OCF conversion% | 91.69 | 65.11 | — |
| Capex to revenue% | 0.52 | 0.72 | — |
| Receivable daysdays | — | 19.6 | — |
| Inventory daysdays | — | 13.9 | — |
| Payable daysdays | — | 54.7 | — |
| Cash conversion cycledays | — | -21.1 | — |
| EPSKRW | 12,506 | 7,314 | 7,893 |
| PERx | — | 9.16 | 6.59 |
| BPSKRW | — | 28,354 | 31,476 |
| PBRx | — | 2.36 | 1.65 |
| Dividend per shareKRW | — | 250 | — |
| Payout ratio% | — | 3.42 | — |
Consolidated basis
Profit flowKRW 100M
- Revenue
- 12,281
- Cost of sales
- 9,063
- Gross profit
- 3,219
- Operating income
- 2,941
- SG&A expenses
- 278
- Non-operating income
- 184
- Profit before tax
- 3,125
- Net income
- 2,488
- Income tax expense
- 637
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
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.
Free cash flow breakdownKRW 100M
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
| 2024 | 2025 | |
|---|---|---|
| 13,494 | 15,381 | |
| 9,019 | 11,233 | |
| Cash and cash equivalentsKRW 100M | 3,143 | 2,153 |
| Short-term financial instrumentsKRW 100M | 2 | 129 |
| InventoriesKRW 100M | 333 | 359 |
| Trade and other receivablesKRW 100M | 295 | 1,025 |
| 4,475 | 4,148 | |
| Property, plant and equipmentKRW 100M | 3,531 | 3,538 |
| Intangible assetsKRW 100M | 14 | 15 |
| 8,960 | 4,457 | |
| 8,321 | 4,106 | |
| Trade and other payablesKRW 100M | 1,438 | 1,276 |
| Current portion of long-term borrowingsKRW 100M | 200 | — |
| Current lease liabilitiesKRW 100M | 1 | 2 |
| 639 | 351 | |
| Non-current lease liabilitiesKRW 100M | 2 | 1 |
| 4,534 | 10,924 | |
| 4,534 | 10,924 | |
| Issued capitalKRW 100M | 1,526 | 1,926 |
| Capital surplusKRW 100M | 479 | 3,989 |
| Retained earningsKRW 100M | 2,120 | 4,608 |
| Accumulated other comprehensive incomeKRW 100M | 408 | 400 |
| Non-controlling interestsKRW 100M | Not applicable | Not applicable |
| 유동성파생상품자산As filed | — | 11 |
| 유동성확정계약자산As filed | 461 | 253 |
| 계약자산As filed | 3,984 | 3,761 |
| 당기손익공정가치측정금융자산As filed | — | 2,818 |
| 당기법인세자산As filed | 0 | 0 |
| 기타유동자산As filed | 802 | 724 |
| 장기매출채권및기타채권As filed | 78 | 74 |
| 장기금융상품As filed | — | 246 |
| 비유동성확정계약자산As filed | 494 | 137 |
| 이연법인세자산As filed | 345 | — |
| 투자부동산As filed | 9 | 9 |
| 기타비유동자산As filed | — | 127 |
| 사용권자산As filed | 4 | 3 |
| 자본과부채총계As filed | 13,494 | 15,381 |
| 유동성파생상품부채As filed | 635 | 418 |
| 단기사채As filed | 209 | — |
| 유동하자보수충당부채As filed | 29 | 22 |
| 계약부채As filed | 2,895 | 2,154 |
| 당기법인세부채As filed | 48 | 216 |
| 유동성확정계약부채As filed | — | 11 |
| 단기차입금As filed | 2,861 | — |
| 기타유동부채As filed | 5 | 6 |
| 장기매입채무및기타채무As filed | 29 | 46 |
| 비유동성파생상품부채As filed | 493 | 137 |
| 하자보수충당부채As filed | 3 | 4 |
| 순확정급여부채As filed | 112 | 85 |
| 이연법인세부채As filed | — | 78 |
Income statement
| 2024 | 2025 | |
|---|---|---|
| 10,753 | 12,281 | |
| Cost of salesKRW 100M | 8,951 | 9,063 |
| Gross profitKRW 100M | 1,802 | 3,219 |
| SG&A expensesKRW 100M | 222 | 278 |
| 1,581 | 2,941 | |
| Finance incomeKRW 100M | 245 | 364 |
| Finance costsKRW 100M | 1,880 | 246 |
| Other incomeKRW 100M | 1,813 | 434 |
| Other expensesKRW 100M | 195 | 369 |
| 1,564 | 3,125 | |
| Income tax expenseKRW 100M | -162 | 637 |
| 1,727 | 2,488 | |
| Attributable to ownersKRW 100M | 1,727 | 2,488 |
| Attributable to minoritiesKRW 100M | Not applicable | Not applicable |
| Basic earnings per shareKRW | 12,506 | 7,314 |
| Diluted earnings per shareKRW | 5,868 | 7,314 |
| 1,699 | 2,480 | |
| Other comprehensive incomeKRW 100M | -28 | -8 |
| 지배기업의 소유주 귀속As filed | 1,699 | 2,480 |
| 후속적으로 당기손익으로 재분류되지 않는 포괄손익As filed | -28 | -8 |
| 확정급여제도의재측정요소As filed | -28 | -8 |
| 당기순이익As filed | 1,727 | 2,488 |
Cash flow statement
| 2024 | 2025 | |
|---|---|---|
| Net incomefrom the income statement | 1,727 | 2,488 |
| Total adjustments to operating cash flowcomputed | -144 | -868 |
| 1,583 | 1,620 | |
| Interest receivedKRW 100M | 53 | 74 |
| Interest paidKRW 100M | 144 | 111 |
| Income taxes paidKRW 100M | 6 | 82 |
| -47 | -3,259 | |
| Purchase of property, plant and equipmentKRW 100M | 56 | 88 |
| Proceeds from sale of property, plant and equipmentKRW 100M | 0 | 2 |
| Purchase of intangible assetsKRW 100M | Not applicable | Not applicable |
| 783 | 676 | |
| Issue of sharesKRW 100M | — | 4,000 |
| Cash at beginning of periodKRW 100M | 684 | 3,143 |
| 3,143 | 2,153 | |
| Effect of exchange rate changesKRW 100M | 139 | -27 |
| Net change in cash and cash equivalentsKRW 100M | 2,459 | -990 |
| 주식발행비용As filed | 5 | 51 |
| 단기사채의 발행As filed | 209 | — |
| 단기차입금의 차입As filed | 4,817 | 2,867 |
| 사채의 상환As filed | 300 | — |
| 단기차입금의 상환As filed | 3,915 | 5,727 |
| 유동성장기부채의 상환As filed | 16 | — |
| 단기사채의 상환As filed | — | 210 |
| 리스부채의 상환As filed | 7 | 2 |
| 유동성사채의 상환As filed | — | 200 |
| 보증금의 감소As filed | 4 | 3 |
| 보증금의 증가As filed | 1 | 0 |
| 장기금융상품의 처분As filed | 10 | — |
| 당기손익공정가치금융자산의 처분As filed | — | 7,244 |
| 단기금융상품의 처분As filed | 121 | 2 |
| 단기대여금의 회수As filed | 16 | 11 |
| 무형자산의 취득As filed | 0 | 2 |
| 단기금융상품의 취득As filed | 122 | 129 |
| 당기손익공정가치금융자산의 취득As filed | — | 10,037 |
| 단기대여금의 증가As filed | 14 | 11 |
| 투자부동산의 취득As filed | 4 | — |
| 영업에서 창출된 현금흐름As filed | 1,680 | 1,738 |
| 장기금융상품의 취득As filed | — | 254 |
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 2026.03.23.
Audit opinion
| Fiscal year | Opinion | Auditor | Fiscal year end |
|---|---|---|---|
| 2025 | 적정의견Term 39 | 삼일회계법인 | 2025-12-31 |
| 2024 | 적정의견Term 38 | 삼일회계법인 | 2025-12-31 |
| 2023 | 적정의견Term 37 | 서현회계법인 | 2025-12-31 |
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.