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Sindoh Co., Ltd. (029530) AI Stock Analysis

KR:029530

Sindoh Co., Ltd.

(Korea Exchange:029530)

Select Model
Rating:66Neutral
Price Target:KRW 40,932.00â–²(12.76% Upside)
Action:initiatedcoverage
Date:10/28/26

The score is driven primarily by a very strong, low-leverage balance sheet, partially offset by inconsistent operating results (TTM operating loss) and weaker cash-flow conversion. Valuation is supportive (low P/E and dividend yield), but technicals remain soft with the stock trading below key moving averages and negative MACD.

Positive Factors
Very low leverageSindoh’s exceptionally low leverage provides financial flexibility and reduces pressure from interest costs or refinancing needs. A sizable equity base can help the company withstand operating volatility while preserving capacity to invest in products, services, and market opportunities.
Negative Factors
Stagnant revenue trendRevenue momentum remains weak, with only marginal TTM growth following two years of contraction. This limits operating leverage, makes fixed costs harder to absorb, and suggests Sindoh may need stronger demand or successful product expansion to establish a durable growth trajectory.

Sindoh Co., Ltd. (029530) vs. SPDR S&P 500 ETF (SPY)

-20%-10%0%10%20%30%40%50%KR:029530-16.76%SPY+11.79%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26
Market Cap
KRW 305.88B
Dividend Yield
2.75%
Average Volume (3M)
5,814
Price to Earnings (P/E)
8.3
Beta (1Y)
0.09
Revenue Growth
5.78%
EPS Growth
12.34%
Country
KR
Employees
303
Sector
General
Sector Strength
55
Industry
Business Equipment & Supplies

Sindoh Co., Ltd. Business Overview & Revenue Model

Company Description

Sindoh Co.,Ltd. is a global enterprise that manufactures and distributes a wide array of office solutions. Its comprehensive product portfolio includes digital color and monochrome multifunction devices, color and monochrome laser printers, facsimile...

Sindoh Co., Ltd. Financial Statement Overview

Summary

Strong balance sheet (very low leverage; debt-to-equity ~0.0045) provides financial flexibility, but operating performance is inconsistent: revenue is essentially flat TTM (+0.7%) and the company posted a small operating loss in TTM. Cash conversion is weaker with operating cash flow covering ~56% of net income and free cash flow down sharply year over year.

Income Statement

62Positive

Balance Sheet

88Very Positive

Cash Flow

54Neutral
Financial statement breakdown
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue323.50B317.33B340.99B395.82B378.19B321.88B
Gross Profit74.83B74.42B90.50B94.21B88.65B83.01B
EBITDA14.77B22.32B108.49B86.03B75.47B142.23B
Net Income38.83B20.07B73.19B54.98B45.02B95.44B
Balance Sheet
Total Assets1.17T1.15T1.14T1.08T1.04T1.02T
Cash, Cash Equivalents and Short-Term Investments423.25B457.52B837.56B794.21B630.36B767.36B
Total Debt4.92B10.84B14.54B17.64B18.06B8.52B
Total Liabilities73.20B81.17B79.29B87.56B84.79B73.93B
Stockholders Equity1.09T1.07T1.06T991.23B953.71B948.67B
Cash Flow
Free Cash Flow8.36B29.41B35.36B80.56B21.91B16.10B
Operating Cash Flow32.70B52.08B51.67B95.43B23.31B21.18B
Investing Cash Flow-37.12B32.10B-44.43B-108.43B-64.14B20.50B
Financing Cash Flow-19.17B-18.34B-16.76B-15.84B-36.46B-12.07B

Sindoh Co., Ltd. Technical Analysis

Technical Analysis SentimentNegative
Last Price36300.00

Price Trends

50DMA39119.00Negative
100DMA40120.50Negative
200DMA45462.00Negative

Market Momentum

MACD-587.24Positive
RSI35.94Neutral
STOCH22.97Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For KR:029530, the sentiment is Negative. The current price of 36300.00 is below the 20-day moving average (MA) of 37910.00, below the 50-day MA of 39119.00, and below the 200-day MA of 45462.00, indicating a bearish trend. The MACD of -587.24 indicates Positive momentum. The RSI at 35.94 is Neutral, neither overbought nor oversold. The STOCH value of 22.97 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for KR:029530.

Sindoh Co., Ltd. Peers Comparison

Overall Rating

UnderperformOutperform
Sector (55)

Financial Indicators

KR:029530 against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
KR:029530KR:02953066NeutralKRW 299.78B8.26―2.75%5.78%12.34%
KR:030520KR:03052065NeutralKRW 366.94B14.38―3.22%18.25%208.01%
KR:016590KR:01659061NeutralKRW 324.58B7.39―2.76%-0.26%69.98%
Sector *55Neutral$6.65B3.83-15.92%6.20%10.91%7.18%
KR:002310KR:00231054NeutralKRW 261.86B9.93―3.52%0.22%25.30%

* General Sector Average

Performance Comparison

-25%0%25%50%KR:029530KR:002310KR:016590KR:030520KR:091700KR:114810Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26
KR:029530 and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
KR:029530Sindoh Co., Ltd.36300.00-6132.27-14.45%
KR:002310Asia Paper Manufacturing Co., Ltd.7100.00-58.03-0.81%
KR:016590Shindaeyang Paper Co., Ltd8140.00-5015.11-38.12%
KR:030520Hancom Inc.15190.00-9966.71-39.62%
KR:091700PARTRON Co., Ltd.4680.00-2006.94-30.01%
KR:114810Hansol IONES Co., Ltd.9990.00-3810.00-27.61%
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