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Dongnam Chemical Co., Ltd. (KR:023450)
:023450
South Korea Market
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Dongnam Chemical Co., Ltd. (023450) AI Stock Analysis

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KR:023450

Dongnam Chemical Co., Ltd.

(023450)

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Neutral 67 (OpenAI - Gpt-5.6Sol)
Rating:67Neutral
Price Target:
₩32,170.00
Action:N/A
Date:10/28/26
The score is driven primarily by improving financial performance (recovering growth and margins, strong ROE, and manageable leverage) and supported by attractive valuation (low P/E and high dividend yield). These positives are tempered by weak technicals (negative MACD, price below key short-term averages) and mixed cash flow consistency, which increases through-cycle risk for a chemicals business.
Positive Factors
Improving Revenue and Margins
Renewed revenue growth alongside expanding net and operating margins indicates that operating performance is recovering from weaker periods. If this improvement persists, it can strengthen earnings capacity and provide more internal resources for investment, resilience, and future growth.
Negative Factors
Cyclical Earnings and Sub-Peak Margins
Profitability has improved but remains below earlier peak levels, while the historical revenue decline demonstrates meaningful cyclicality. This can make earnings less predictable, limit the durability of current margins, and expose the company to recurring downturns in chemical demand.
Read all positive and negative factors
Positive Factors
Negative Factors
Improving Revenue and Margins
Renewed revenue growth alongside expanding net and operating margins indicates that operating performance is recovering from weaker periods. If this improvement persists, it can strengthen earnings capacity and provide more internal resources for investment, resilience, and future growth.
Read all positive factors

Dongnam Chemical Co., Ltd. (023450) vs. SPDR S&P 500 ETF (SPY)

Dongnam Chemical Co., Ltd. Business Overview & Revenue Model

Company Description
Established in 1965 and headquartered in Gongju, South Korea, Dongnam Chemical Co., Ltd. is a producer and supplier of various chemical products and surface-active agents within the country. The company's diverse offerings include nonionic, cation...

Dongnam Chemical Co., Ltd. Financial Statement Overview

Summary
Fundamentals are improving but still cyclical: revenue growth is strong (~9.5%) with better profitability (net margin ~5.5%, operating margin ~6.9%) and strong ROE (~21%) alongside moderate leverage (~0.51x debt/equity). Offsetting this, margins are below prior peak levels and cash flow consistency is mixed, with free cash flow down ~13% year-over-year and uneven conversion over time.
Income Statement
72
Positive
Balance Sheet
70
Positive
Cash Flow
61
Positive
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue216.55B194.26B186.40B166.72B193.40B160.30B
Gross Profit24.63B18.76B18.44B17.21B22.40B22.94B
EBITDA21.24B15.77B16.37B14.45B17.74B19.43B
Net Income11.87B6.99B6.71B5.95B10.62B11.73B
Balance Sheet
Total Assets115.57B95.15B96.87B97.57B92.09B90.60B
Cash, Cash Equivalents and Short-Term Investments8.52B1.73B1.15B937.18M510.54M5.29B
Total Debt29.86B20.21B27.00B26.30B29.61B23.12B
Total Liabilities56.81B40.61B43.12B45.75B42.06B44.34B
Stockholders Equity58.76B54.54B53.74B51.82B50.03B46.26B
Cash Flow
Free Cash Flow11.08B14.05B3.20B6.70B-3.99B9.99B
Operating Cash Flow14.11B15.24B6.05B18.41B12.89B12.55B
Investing Cash Flow-2.92B-1.04B-2.95B-11.07B-17.19B-1.31B
Financing Cash Flow-10.69B-13.45B-2.85B-6.98B-131.92M-9.31B

Dongnam Chemical Co., Ltd. Technical Analysis

Technical Analysis Sentiment
Positive
Last Price―
Price Trends
50DMA
31217.00
Negative
100DMA
29811.02
Positive
200DMA
29924.15
Positive
Market Momentum
MACD
-409.30
Positive
RSI
51.16
Neutral
STOCH
38.20
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For KR:023450, the sentiment is Positive. The current price of undefined is equal to the 20-day moving average (MA) of 30715.00, equal to the 50-day MA of 31217.00, and equal to the 200-day MA of 29924.15, indicating a neutral trend. The MACD of -409.30 indicates Positive momentum. The RSI at 51.16 is Neutral, neither overbought nor oversold. The STOCH value of 38.20 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for KR:023450.

Dongnam Chemical Co., Ltd. Peers Comparison

Overall Rating
UnderperformOutperform
Sector (55)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
85
Outperform
₩91.55B5.01―7.45%6.64%2.60%
85
Outperform
₩220.44B7.49―4.40%30.03%83.76%
71
Outperform
₩246.15B2.49―7.01%-8.64%121.40%
67
Neutral
₩104.75B8.73―5.12%13.39%137.21%
61
Neutral
₩168.43B3.98―4.42%8.07%33.39%
55
Neutral
$6.65B3.83-15.92%6.20%10.91%7.18%
52
Neutral
₩188.27B20.05―0.32%0.88%143.75%
* General Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
KR:023450
Dongnam Chemical Co., Ltd.
30,750.00
198.99
0.65%
KR:011500
Hannong Chemicals Inc.
12,310.00
-3,396.83
-21.63%
KR:014440
Youngbo Chemical Co., Ltd.
4,695.00
511.67
12.23%
KR:025000
KPX Chemical Co., Ltd.
60,600.00
18,908.05
45.35%
KR:102260
DONGSUNG CHEMICAL Co., Ltd.
3,390.00
-411.45
-10.82%
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.Date of analysis: Oct 28, 2026