Samick Musical Instruments Co., Ltd (002450) AI Stock Analysis

Samick Musical Instruments Co., Ltd

(Korea Exchange:002450)

Select Model

Rating:69Neutral

Price Target:KRW 1,139.00▲(13.67% Upside)

Action:initiatedcoverage

Date:10/28/26

The score is driven primarily by very attractive valuation (low P/E and high dividend yield) and improved TTM profitability/returns. These positives are tempered by clearly weak technicals (price below key moving averages with negative MACD) and moderate balance-sheet/cash-flow risk from higher debt and only modest cash-flow-to-debt coverage.

Positive Factors

Profitability reboundThe sharp improvement in net margin indicates materially stronger recent earnings power and operating performance. If profitability remains elevated, Samick can retain more cash from each sale, support reinvestment, and build greater resilience than during the weaker 2023–2024 period.

Negative Factors

Weak top-line momentumA choppy, mostly flat revenue trajectory limits the evidence of sustained demand expansion across Samick’s markets. Without stronger top-line growth, future earnings progress may depend heavily on further margin gains, which can be harder to repeat than broad-based sales growth.

Samick Musical Instruments Co., Ltd (002450) vs. SPDR S&P 500 ETF (SPY)

Market Cap: KRW 76.18B
Dividend Yield: 4.99%
Average Volume (3M): 125.28K
Price to Earnings (P/E): 1.8
Beta (1Y): 0.01
Revenue Growth: -2.11%
EPS Growth: 136.20%
Country: KR
Employees: 45
Sector: General
Sector Strength: 55
Industry: Hardware, Equipment & Parts

Samick Musical Instruments Co., Ltd Business Overview & Revenue Model

Company Description

SAMICK MUSICAL INSTRUMENT Co., Ltd, along with its subsidiaries, is actively involved in the manufacturing and distribution of musical instruments throughout South Korea. Their comprehensive product range features acoustic and digital pianos, digital...

Samick Musical Instruments Co., Ltd Financial Statement Overview

Summary

Financials show a strong TTM profitability rebound (net margin ~18.1% vs ~7.9% in 2025 and ~1.4% in 2024) and improved ROE (~13.7%). Offsetting this, revenue has been uneven/mostly flat over multiple years, total debt rose versus 2025 (156.7B to 214.8B), and cash-flow-to-debt coverage is only moderate (~16.7%).

Income Statement

68Positive

Balance Sheet

64Positive

Cash Flow

62Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	224.73B	224.25B	230.38B	247.93B	325.70B	295.43B
Gross Profit	59.01B	50.52B	56.22B	54.26B	67.10B	82.06B
EBITDA	31.32B	19.90B	29.43B	27.22B	43.79B	61.13B
Net Income	40.72B	17.61B	3.15B	3.42B	15.10B	24.58B
Balance Sheet
Total Assets	648.15B	515.49B	524.98B	534.16B	521.56B	585.30B
Cash, Cash Equivalents and Short-Term Investments	63.34B	109.58B	105.99B	92.42B	82.91B	105.26B
Total Debt	214.85B	156.67B	168.90B	183.75B	183.61B	239.30B
Total Liabilities	318.95B	236.39B	252.83B	271.96B	260.91B	331.39B
Stockholders Equity	330.70B	280.33B	273.08B	262.96B	261.36B	254.98B
Cash Flow
Free Cash Flow	22.38B	10.04B	32.02B	16.11B	11.52B	11.12B
Operating Cash Flow	33.97B	28.24B	35.15B	26.76B	23.35B	15.74B
Investing Cash Flow	-128.40B	-5.86B	-2.96B	-12.86B	20.68B	103.26B
Financing Cash Flow	32.87B	-16.76B	-27.06B	-6.40B	-64.85B	-95.19B

Samick Musical Instruments Co., Ltd Technical Analysis

Technical Analysis SentimentNegative

Last Price1002.00

Price Trends

50DMA1096.46Negative

100DMA1129.76Negative

200DMA1172.47Negative

Market Momentum

MACD-20.80Positive

RSI22.68Positive

STOCH16.16Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For KR:002450, the sentiment is Negative. The current price of 1002.00 is below the 20-day moving average (MA) of 1060.35, below the 50-day MA of 1096.46, and below the 200-day MA of 1172.47, indicating a bearish trend. The MACD of -20.80 indicates Positive momentum. The RSI at 22.68 is Positive, neither overbought nor oversold. The STOCH value of 16.16 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for KR:002450.

Samick Musical Instruments Co., Ltd Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

KR:002450 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
KR:004770	72Outperform	KRW 52.60B	17.11	―	2.28%	-3.78%	-25.83%
KR:002450	69Neutral	KRW 76.18B	1.84	―	4.99%	-2.11%	136.20%
KR:005680	61Neutral	KRW 215.50B	46.19	―	2.65%	-4.19%	-62.93%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
KR:192650	44Neutral	KRW 427.13B	4941.18	―	3.36%	-11.04%	16.35%
KR:011230	40Underperform	KRW 39.77B	-5.11	―	―	-14.47%	19.50%

* General Sector Average

Performance Comparison

KR:002450 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
KR:002450	Samick Musical Instruments Co., Ltd	1002.00	-95.64	-8.71%
KR:004770	Sunny Electronics Corporation	1533.00	51.04	3.44%
KR:005680	SAMYOUNG ELECTRONICS Co., Ltd.	11340.00	1167.89	11.48%
KR:006140	PJ Electronics Co., Ltd.	4550.00	-470.38	-9.37%
KR:011230	Samwha Electronics Co., Ltd.	2075.00	-985.00	-32.19%
KR:192650	Dreamtech Co., Ltd.	6720.00	-199.44	-2.88%

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Oct 28, 2026

Samick Musical Instruments Co., Ltd AI Stock Analysis