PKX Basic Materials

POSCO Holdings Inc.

$49.46-3.59%

Price as of close on Nov 3, 2026 · Financials updated Oct 1, 2026

Basics

Sector: Basic Materials
Industry: Steel
Country: South Korea
Market cap: 15.0B USD
Enterprise value: 49.4B USD
Full-time employees: 383

Overall health

Drawback: less profitable than most peersless profitable than peers
Drawback: growing more slowly than most peersgrowing more slowly than peers
Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 1.66 vs a peer median of 0.69)higher risk: bigger price swings (beta 1.66 vs peers 0.69)
About average: valuation

Ranks #1,090 of 1,217 basic materials companies (bottom 11%)

See how it ranks against its peers

Worth knowing

Profitable, but burning cash. Reports a profit, but free cash flow is negative.
POSCO reports a profit but its free cash flow is negative: it spent more on investment and running the business than it brought in. That's common for companies building capacity, but it means the profit isn't yet turning into cash.
Paying shareholders without free cash flow. Paid out KRW 2.6T over the 3 fiscal years to 2025 with -KRW 2.7T of free cash flow.
POSCO returned KRW 2.6T in buybacks and dividends over three fiscal years while its free cash flow totalled -KRW 2.7T. The money came from its cash pile or from borrowing.
Annual revenue fell three years running. Fiscal-year revenue down each year from 2022 to 2025.
POSCO's fiscal-year revenue declined in each of the three years to 2025.
Valuation signals disagree. Cheaper than 53% of peers on operating cash profit (EBITDA), but only 0% on free cash flow.Cheaper than 53% of peers on operating cash profit, but only 0% on free cash flow.
Relative to its operating cash profit (EBITDA), POSCO looks cheaper than 53% of peers; relative to its free cash flow, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.Relative to its operating cash profit, POSCO looks cheaper than 53% of peers; relative to its free cash flow, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.

StockQuotient Score

24/ 100▲ 1 since Oct 27 close

Oct 5 23 → Nov 4 24 (+1)

Valuation

Is the price right?

41/100

Moderate

3/3 inputs reported · High confidence

Since last year: No major changeValuation also moves with the share price every day.

Why

Held back by:

▼ FCF yield
▼ Earnings yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield1.7%

SEC filings (IFRS mapped) · 12 months to Dec 2025 · KRW→USD at the current rateReported value30% base weight · Z-score -0.52Sector median: 0.0364 · MAD: 0.0364

EBITDA yield9.1%

SEC filings (IFRS mapped) · 12 months to Dec 2025 · KRW→USD at the current rateReported value50% base weight · Z-score 0.11Sector median: 0.0854 · MAD: 0.0520

Free cash flow yield-2.7%

SEC filings (IFRS mapped) · 12 months to Dec 2025 · KRW→USD at the current rate · operating cash flow − capital spendingNegative (a loss or cash outflow), so it counts as zero whatever the share price20% base weight · Z-score -1.00Sector median: 0.0261 · MAD: 0.0261

Other data (not scored)

Book yield140.1%

SEC filings (IFRS mapped) · latest balance sheet · KRW→USD at the current rateReported valueInformational · 0% composite weightSector median: 0.5947 · MAD: 0.3137

Growth

Is it growing?

13/100

Weak

3/3 inputs reported · High confidence

Since last year: ▼ Weaker

12-month revenue fell 6.1%

Why

Weaker than most peers on:

▼ EPS growth
▼ Revenue growth
▼ 3-yr revenue

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growth-69.3%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported value33% base weight · Z-score -2.39Sector median: 0.0941 · MAD: 0.3300

3-year revenue growth-6.7%

SEC filings (IFRS mapped) · 3 years to Dec 2025Reported value33% base weight · Z-score -0.92Sector median: -0.0005 · MAD: 0.0725

Revenue growth-6.1%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported value33% base weight · Z-score -0.99Sector median: 0.0335 · MAD: 0.0952

Profitability

Does it earn well?

25/100

Weak▲ 1 since Oct 27 close

3/3 inputs reported · High confidence

Since last year: No major change

Why it changed since the Oct 27, 2026 close: Score 24 → 25

Peer companies moved+1

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Weaker than most peers on:

▼ ROIC
▼ Operating margin
▼ ROA

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin2.1%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported value33% base weight · Z-score -0.88Sector median: 0.0757 · MAD: 0.0617

Return on assets0.7%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported value33% base weight · Z-score -0.69Sector median: 0.0249 · MAD: 0.0265

Return on invested capital1.5%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported value33% base weight · Z-score -0.91Sector median: 0.0675 · MAD: 0.0575

Other data (not scored)

Gross margin7.4%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported valueInformational · 0% composite weightSector median: 0.2138 · MAD: 0.1202

Return on equity1.2%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported valueInformational · 0% composite weightSector median: 0.0537 · MAD: 0.0694

Risk

Debt, liquidity, price swings

Higher

Higher relative risk

3/3 inputs reported · High confidence

Since last year: No major change

Why it changed since the Oct 27, 2026 close: Safety percentile 15 → 16

Peer companies moved+1

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Weaker than most peers on:

▼ Beta
▼ Debt / equity

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta1.66

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -3.43Sector median: 0.6950 · MAD: 0.2810

Current ratio1.89×

SEC filings (IFRS mapped) · latest balance sheetReported value33% base weight · Z-score 0.19Sector median: 1.7610 · MAD: 0.6770

Debt / equity0.51×

SEC filings (IFRS mapped) · latest balance sheetReported value33% base weight · Z-score -0.52Sector median: 0.3578 · MAD: 0.2929

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about POSCO

Is POSCO getting weaker?: Its latest SEC filing (Apr 29, 2026) got weaker in some ways: 12-month revenue fell 6.1%. Its overall score is 24/100, up 1 since Oct 28, 2026.
How is POSCO valued vs its peers?: Priced about in line with its peers. Valuation scores 41/100 against 1,371 basic materials peers. Free cash flow yield -2.7% vs a peer median of 2.6% (weaker than 100% of peers).Free cash flow yield -2.7% vs peers 2.6% (weaker than 100% of peers).
Is POSCO growing?: More slowly than most of its peers. Growth scores 13/100 against 1,371 basic materials peers. Earnings per share growth -69.3% vs a peer median of 9.4% (weaker than 95% of peers).Earnings per share growth -69.3% vs peers 9.4% (weaker than 95% of peers).
How profitable is POSCO?: Less profitable than most of its peers. Profitability scores 25/100 against 1,371 basic materials peers. Return on invested capital 1.5% vs a peer median of 6.7% (weaker than 76% of peers).Return on invested capital 1.5% vs peers 6.7% (weaker than 76% of peers).
How risky is POSCO?: Higher risk relative to 1,371 basic materials peers, judged on debt, liquidity and share-price swings. Beta 1.66 vs a peer median of 0.69 (weaker than 93% of peers).Beta 1.66 vs peers 0.69 (weaker than 93% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Year ended Dec 31, 2025 · filed Apr 29, 2026 · compared with the year ended Dec 31, 2024

Got weaker

12-month revenue fell 6.1%

	Previous year	Latest year	Change
Revenue (12 months)	73.46T KRW	68.99T KRW	−6.1%
Net income (12 months)	1.13T KRW	690.7B KRW	−38.6%
Operating margin	2.0%	2.1%	+0.2 pts
Free cash flow (12 months)	−1.01T KRW	−1.09T KRW	+8.7%
Debt	26.00T KRW	28.49T KRW	+9.6%
Cash	6.77T KRW	7.05T KRW	+4.2%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one year at a time.

Financials

Fiscal years from SEC annual filings · change vs the prior year · amounts in KRW, as reported

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Gross margin	15.6%	9.0%	8.3%	7.5%	7.4%	▼ 0.0 pts
Operating margin	11.5%	5.1%	3.6%	2.0%	2.1%	▲ 0.2 pts
Net margin	8.7%	3.7%	2.2%	1.5%	1.0%	▼ 0.5 pts
Return on assets (ROA)	7.2%	3.2%	1.7%	1.1%	0.7%	▼ 0.4 pts
Return on equity (ROE)	13.1%	6.0%	3.1%	2.0%	1.2%	▼ 0.8 pts
Free cash flow margin	4.2%	1.5%	-0.7%	-1.4%	-1.6%	▼ 0.2 pts
Current ratio	2.23×	2.06×	2.08×	1.94×	1.89×	▼ 2.5%
Quick ratio	1.47×	1.37×	1.43×	1.31×	1.29×	▼ 1.6%
Debt to equity	0.43×	0.46×	0.48×	0.47×	0.51×	▲ 8.9%
Interest coverage	19.95×	7.15×	2.73×	1.38×	1.35×	▼ 2.0%

PKX price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Drawback: less profitable than most peersless profitable than peers

Drawback: growing more slowly than most peersgrowing more slowly than peers

Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 1.66 vs a peer median of 0.69)higher risk: bigger price swings (beta 1.66 vs peers 0.69)

About average: valuation

Ranks #1,090 of 1,217 basic materials companies (bottom 11%)

See how it ranks against its peers

Worth knowing

Profitable, but burning cash. Reports a profit, but free cash flow is negative.

POSCO reports a profit but its free cash flow is negative: it spent more on investment and running the business than it brought in. That's common for companies building capacity, but it means the profit isn't yet turning into cash.

Paying shareholders without free cash flow. Paid out KRW 2.6T over the 3 fiscal years to 2025 with -KRW 2.7T of free cash flow.

POSCO returned KRW 2.6T in buybacks and dividends over three fiscal years while its free cash flow totalled -KRW 2.7T. The money came from its cash pile or from borrowing.

Annual revenue fell three years running. Fiscal-year revenue down each year from 2022 to 2025.

POSCO's fiscal-year revenue declined in each of the three years to 2025.

Valuation signals disagree. Cheaper than 53% of peers on operating cash profit (EBITDA), but only 0% on free cash flow.Cheaper than 53% of peers on operating cash profit, but only 0% on free cash flow.

Relative to its operating cash profit (EBITDA), POSCO looks cheaper than 53% of peers; relative to its free cash flow, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.Relative to its operating cash profit, POSCO looks cheaper than 53% of peers; relative to its free cash flow, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.

Questions investors ask about POSCO

Is POSCO getting weaker?

Its latest SEC filing (Apr 29, 2026) got weaker in some ways: 12-month revenue fell 6.1%. Its overall score is 24/100, up 1 since Oct 28, 2026.

How is POSCO valued vs its peers?

Priced about in line with its peers. Valuation scores 41/100 against 1,371 basic materials peers. Free cash flow yield -2.7% vs a peer median of 2.6% (weaker than 100% of peers).Free cash flow yield -2.7% vs peers 2.6% (weaker than 100% of peers).

Is POSCO growing?

More slowly than most of its peers. Growth scores 13/100 against 1,371 basic materials peers. Earnings per share growth -69.3% vs a peer median of 9.4% (weaker than 95% of peers).Earnings per share growth -69.3% vs peers 9.4% (weaker than 95% of peers).

How profitable is POSCO?

Less profitable than most of its peers. Profitability scores 25/100 against 1,371 basic materials peers. Return on invested capital 1.5% vs a peer median of 6.7% (weaker than 76% of peers).Return on invested capital 1.5% vs peers 6.7% (weaker than 76% of peers).

How risky is POSCO?

Higher risk relative to 1,371 basic materials peers, judged on debt, liquidity and share-price swings. Beta 1.66 vs a peer median of 0.69 (weaker than 93% of peers).Beta 1.66 vs peers 0.69 (weaker than 93% of peers). A relative measure, not a bankruptcy probability.

Previous year

Latest year

Change

Revenue (12 months)

73.46T KRW

68.99T KRW

−6.1%

Net income (12 months)

1.13T KRW

690.7B KRW

−38.6%

Operating margin

2.0%

2.1%

+0.2 pts

Free cash flow (12 months)

−1.01T KRW

−1.09T KRW

+8.7%

Debt

26.00T KRW

28.49T KRW

+9.6%

Cash

6.77T KRW

7.05T KRW

+4.2%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Gross margin

15.6%

9.0%

8.3%

7.5%

7.4%

▼ 0.0 pts

Operating margin

11.5%

5.1%

3.6%

2.0%

2.1%

▲ 0.2 pts

Net margin

8.7%

3.7%

2.2%

1.5%

1.0%

▼ 0.5 pts

Return on assets (ROA)

7.2%

3.2%

1.7%

1.1%

0.7%

▼ 0.4 pts

Return on equity (ROE)

13.1%

6.0%

3.1%

2.0%

1.2%

▼ 0.8 pts

Free cash flow margin

4.2%

1.5%

-0.7%

-1.4%

-1.6%

▼ 0.2 pts

Current ratio

2.23×

2.06×

2.08×

1.94×

1.89×

▼ 2.5%

Quick ratio

1.47×

1.37×

1.43×

1.31×

1.29×

▼ 1.6%

Debt to equity

0.43×

0.46×

0.48×

0.47×

0.51×

▲ 8.9%

Interest coverage

19.95×

7.15×

2.73×

1.38×

1.35×

▼ 2.0%