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Michang Oil Industry Co., Ltd.
(003650)
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Rating:72Outperform
Price Target:
₩129,648
Action:N/A
Date:10/28/26
The score is driven primarily by strong financial resilience (very low leverage and improved ROE) and very attractive valuation (P/E ~1.45 with ~3.0% dividend yield). These positives are meaningfully offset by weak recent cash flow conversion and a clear technical downtrend/oversold momentum (price below major moving averages with RSI ~28.9 and negative MACD).
Positive Factors
Conservative balance sheet
Very low leverage gives Michang Oil Industry substantial financial flexibility and resilience if operating conditions weaken. A conservative capital structure can support continued investment in cooking-oil products, reduce financing pressure, and preserve options for dividends or other shareholder returns.
Negative Factors
Weak cash conversion
Operating earnings are currently translating into cash at a weak rate, which reduces confidence in the quality and repeatability of reported profits. Persistently low conversion could constrain internally funded investment, dividends, and working-capital flexibility even while accounting earnings remain positive.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Very low leverage gives Michang Oil Industry substantial financial flexibility and resilience if operating conditions weaken. A conservative capital structure can support continued investment in cooking-oil products, reduce financing pressure, and preserve options for dividends or other shareholder returns.
Read all positive factors
Michang Oil Industry Co., Ltd. (003650) vs. SPDR S&P 500 ETF (SPY)
Market Cap
₩178.99B
Dividend Yield2.96%
Average Volume (3M)1.21K
Price to Earnings (P/E)1.5
Beta (1Y)0.02
Revenue Growth4.97%
EPS Growth153.76%
CountryKR
Employees84
SectorGeneral
Sector StrengthN/A
IndustryOil & Gas Refining & Marketing
Share Statistics
EPS (TTM)80394.00
Shares Outstanding1,739,672
10 Day Avg. Volume1,012
30 Day Avg. Volume1,212
Financial Highlights & Ratios
PEG Ratio0.09
Price to Book (P/B)0.44
Price to Sales (P/S)0.52
P/FCF Ratio5.59
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Michang Oil Industry Co., Ltd. Business Overview & Revenue Model
Company Description
Michang Oil Industries Co., Ltd., a petrochemical enterprise based in South Korea, provides an extensive range of specialized oil products. Its offerings include various automotive lubricants, covering oils for motors, gasoline engines, diesel eng...
Michang Oil Industry Co., Ltd. Financial Statement Overview
Summary
Income Statement
71
Positive
Balance Sheet
88
Very Positive
Cash Flow
56
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 437.33B | 404.61B | 431.94B | 409.23B | 418.79B | 406.29B |
| Gross Profit | 50.61B | 47.93B | 59.57B | 61.55B | 57.89B | 49.87B |
| EBITDA | -3.01B | 38.51B | 72.85B | 64.57B | 30.09B | 44.83B |
| Net Income | 123.12B | 68.87B | 52.63B | 47.65B | 23.38B | 33.14B |
Balance Sheet | ||||||
| Total Assets | 659.53B | 533.96B | 488.93B | 416.24B | 357.33B | 347.60B |
| Cash, Cash Equivalents and Short-Term Investments | 351.48B | 255.87B | 206.44B | 141.03B | 109.94B | 117.17B |
| Total Debt | 13.09B | 12.80B | 52.73B | 13.48B | 3.44B | 2.47B |
| Total Liabilities | 83.78B | 54.55B | 76.42B | 51.38B | 36.18B | 45.62B |
| Stockholders Equity | 575.75B | 479.41B | 412.51B | 364.86B | 321.14B | 301.98B |
Cash Flow | ||||||
| Free Cash Flow | 6.51B | 37.85B | 18.85B | 53.27B | 14.17B | 13.58B |
| Operating Cash Flow | 9.25B | 40.34B | 23.71B | 54.10B | 15.32B | 15.24B |
| Investing Cash Flow | 4.70B | 15.17B | -55.83B | -55.74B | -22.35B | -30.63B |
| Financing Cash Flow | -22.38B | -44.63B | 35.55B | 6.06B | -4.03B | -3.36B |
Michang Oil Industry Co., Ltd. Technical Analysis
Negative
―
Price Trends
129782.00
Negative
132715.00
Negative
127421.50
Negative
Market Momentum
-3326.12
Negative
36.48
Neutral
27.80
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For KR:003650, the sentiment is Negative. The current price of undefined is equal to the 20-day moving average (MA) of 120915.00, equal to the 50-day MA of 129782.00, and equal to the 200-day MA of 127421.50, indicating a bearish trend. The MACD of -3326.12 indicates Negative momentum. The RSI at 36.48 is Neutral, neither overbought nor oversold. The STOCH value of 27.80 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for KR:003650.
Michang Oil Industry Co., Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
85 Outperform | ₩217.33B | 7.39 | ― | 4.46% | 30.03% | 83.76% | |
72 Outperform | ₩178.99B | 1.47 | ― | 2.96% | 4.97% | 153.76% | |
71 Outperform | ₩239.66B | 2.43 | ― | 7.20% | -8.64% | 121.40% | |
66 Neutral | ₩187.64B | 7.76 | ― | 3.62% | -6.14% | -7.46% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | ₩108.42B | 10.00 | ― | 6.21% | 4.16% | 774.03% | |
45 Neutral | ₩212.20B | -2.07 | ― | 0.47% | 6.88% | -1246.67% |
* General Sector Average
KR:003650
Michang Oil Industry Co., Ltd.
115,900.00
9,596.98
9.03%
KR:007160
Sajo Industries Co., Ltd
40,850.00
-7,279.03
-15.12%
KR:014530
Kukdong Oil & Chemicals Co., Ltd
3,215.00
104.11
3.35%
KR:025000
KPX Chemical Co., Ltd.
60,600.00
18,908.05
45.35%
KR:117580
Daesung Energy Co. Ltd.
6,930.00
-1,009.39
-12.71%
KR:134380
Miwon Chemicals Co., Ltd
11,370.00
3,137.45
38.11%
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.