Stock Deep Dive · 2026-08-25
Doosan Enerbility (034020) closed at ₩80,700, up 10.55% on the day. Year-to-date return is +7.2%, sitting at 29% of its 52-week range. Listed in Seoul — for USD-based investors, KRW moves add an FX layer on top of the stock’s local return.
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Close
₩80,700
+10.55% · YTD +7.2%
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Market Cap
₩51.58T
Specialty Industrial Machinery
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Forward P/E
77.6x
PER 334.1x
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52-wk Range
29%
High ₩139,200 · Low ₩57,000
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🔍 At a Glance
Doosan Enerbility just popped 10.55% in a single session and is up nearly 12% over the past month, riding a wave of enthusiasm for nuclear and SMR-linked names tied to data-center power demand. Bulls point to strong-buy consensus from 20 analysts with an average target of ₩127,429 (well above the current ₩80,700) and a 62% jump in Q1 orders reported in headlines; bears note the stock remains 11.4% below its 200-day average, down 20.3% over three months, and trades at a nosebleed trailing PER of 334x with ROE of just 2.6%, meaning today’s rally is pricing in a lot of future growth that hasn’t yet shown up in margins.
🏢 How It Makes Money
Doosan Enerbility manufactures power-generation equipment — boilers, turbines, generators — and builds gas turbines, wind, hydrogen, energy storage, and small modular reactor (SMR) technology, plus EPC work on thermal plants, desalination, and heavy industrial castings/forgings. Revenue is broad (₩17.73T TTM) but thin-margined (4.9% operating margin), with growth modest at +3.0% YoY last quarter — so upside hinges on translating new energy/SMR order wins into higher-margin execution over time.
📈 Quarterly Results — Is Business Growing?
| Quarter | Revenue | Op. Income | Net Income | Op. Margin |
|---|---|---|---|---|
| 25Q1 | ₩3.75T | ₩142.5B | ₩-68.9B | 3.8% |
| 25Q2 | ₩4.57T | ₩271.1B | ₩130.9B | 5.9% |
| 25Q3 | ₩3.88T | ₩137.1B | ₩-50.1B | 3.5% |
| 25Q4 | ₩4.86T | ₩212.1B | ₩72.8B | 4.4% |
| 26Q1 | ₩4.26T | ₩233.5B | ₩0.8B | 5.5% |
| 26Q2* | ₩4.72T | ₩314.3B | ₩157.6B | 6.7% |
* 26Q2 figures come from the company’s preliminary earnings disclosure filed with Korea’s DART on 2026-07-27. They are unaudited and will be replaced once the reviewed quarterly or half-year report is filed.
Latest-quarter revenue up +3.0% versus the same quarter a year ago.
💡 Korea Market 101
💵 Balance Sheet & Runway — How Long Can It Last?
| Item | Value | How to read it |
|---|---|---|
| Cash & equivalents | ₩2.89T | Money available right now |
| Total debt | ₩7.40T | What it owes — larger than cash means a net debt position |
| Free cash flow | ₩-378.2B | Operating cash minus capex — negative means cash is going out |
| Operating cash flow | ₩450.0B | Cash actually generated by the business, which can differ from accounting profit |
| Debt to equity | 58.4% | Debt against shareholders’ equity — above 100% means more debt than equity |
| Current ratio | 1.03 | Short-term assets against short-term liabilities — below 1 signals near-term strain |
At the current burn rate, the cash on hand covers roughly 7.6 years (92 months). The real figure shifts with revenue growth, cost control, and any new financing.
💡 Korea Market 101
⚖️ Valuation — Cheap or Expensive?
| Metric | Value | How to read it |
|---|---|---|
| P/E (trailing) | 334.1x | Price vs last 12 months’ earnings |
| P/E (forward) | 77.6x | Price vs next 12 months’ expected earnings — growth hopes baked in |
| P/S | 2.9x | Price vs revenue — for high-growth names with thin profits |
| P/B | 6.6x | Price vs book value — below 1x means priced under liquidation value |
| EV/EBITDA | 38.5x | Enterprise value (incl. debt) vs cash generation |
Peer comparison
| Name | Mkt Cap | P/E | Fwd P/E | P/S |
|---|---|---|---|---|
| Doosan Enerbility | ₩51.58T | — | 77.6x | 2.9x |
| HD HYUNDAI HEAVY INDUSTRIES | ₩48.74T | — | 13.0x | 2.5x |
| Hanwha Ocean | ₩26.53T | — | 13.5x | 1.8x |
| GE Vernova Inc. | $250.91B | 27.4x | 37.5x | 6.1x |
💡 Korea Market 101
🎯 Street Consensus
- Price target (mean): ₩127,429
- Target high / low: ₩177,000 / ₩100,000
- Implied upside: +57.9%
- Rating: Strong Buy (1.4/5)
- Analysts covering: 20
💡 Korea Market 101
📉 Price Action — Technical Check
| Indicator | Value | How to read it |
|---|---|---|
| RSI (14d) | 62.0 | Above 70 overbought · below 30 oversold |
| vs 60-day MA | -1.6% | Above/below the medium-term trend |
| vs 200-day MA | -11.4% | Above/below the long-term trend |
| Golden/death cross | 50-day below 200-day (bearish alignment) | 50-day MA crossing above (golden) or below (death) the 200-day |
| Volume (vs 20d avg) | 2.3x | 2x+ means a spike in market attention |
💡 Korea Market 101
📰 Recent News
- Is It Too Late To Consider Buying Doosan Enerbility Co., Ltd. (KRX:034020)? — simplywall.st
- Doosan Enerbility Wins Rolls-Royce SMR Work: Q1 Orders Jump 62% Amid Data Center Push — Tech Times
- KRX Foreign Holding Weekly (Apr 17th): SK Hynix, Doosan Enerbility, Samsung Elec (PREF), APR — Smartkarma
- Samsung Securities Offers Shares of Samsung Electronics, Hyundai Motor, and Doosan Enerbility to New Customers — 아시아경제
- Meta deal lifts South Korea nuclear stocks – CHOSUNBIZ — Chosunbiz
- 034020 Stock Price and Chart — KRX:034020 — TradingView
How to read these headlines
The common thread across headlines is AI-driven data-center electricity demand reigniting global nuclear investment, with Doosan positioned via SMR partnerships (Rolls-Royce) and broader sector tailwinds like the Meta nuclear deal. This narrative is driving order growth and foreign investor interest, but it’s worth confirming whether order momentum actually improves the company’s thin operating margins rather than just its stock multiple.
Headlines are credited to their publishers — click a headline to open the original article. The commentary is written by this site and does not represent the views of any publisher.
💡 Korea Market 101
🔭 Scenarios & What to Watch
Watch whether the reported Rolls-Royce SMR collaboration and the 62% Q1 order jump convert into backlog revenue recognition in coming quarters — that’s the bull case validation. RSI at 62 and price still below MA200 suggest momentum is building but not yet confirmed as a trend reversal. Key catalysts: next earnings release for margin and order-book detail, further nuclear-linked deals (Meta-style data center power agreements), and whether forward PER of 77.6x compresses as growth materializes or valuation risk grows.
💡 Korea Market 101
📚 All stock analysis · More on Doosan Enerbility · Market report for this session
Stock report · published 2026-08-25 16:00 KST
For information only — a summary of public data, not a recommendation to buy or sell any security. Source data (Yahoo Finance and others) may be delayed or contain errors. All investment decisions are your own responsibility.
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