Very little debt to repay and plenty of cash on hand, so it is hard to shake.
Metrics · D/E ~4% · Current Ratio 2.83
💲Is the price expensive now?
Not a heavy price burden
The price is set low relative to its earning power.
Metrics · P/E 11.6 · P/B 2.8
💡Almost no debt, plenty of cash. But these ratios are trailing-twelve-month, and that period earned 2.5x the prior ten-year peak — the 11.6x rests on it.
Compiled from public financial data. Not a recommendation to buy or sell any security. · Source: DART annual reports · TradingView (TTM), as of 2026-09-18
Business Summary · Key Value Metrics
Makes memory semiconductors (DRAM and NAND), smartphones, home appliances and displays. Results are driven by memory, so profit swings with the chip price cycle. Operating profit fell to KRW 6.57 trillion in 2023, recovered to KRW 43.60 trillion in 2025, and reached KRW 179 trillion over the most recent four quarters.
Current Price
KRW 259,750
+2.87%+KRW 7,250· Close 2026-09-18
Analyst Consensus Target (external reference)
KRW 475,850
Avg. of 36 external analysts · S&P Global consensus (stockanalysis, 2026-09-18) — external consensus, not a ValueCrab estimate
P/E (TTM)
11.6x
39.3x on an FY2025 basis
ROE
31.4%
TTM; FY2025 was 10.8%
Operating margin
36.9%
TTM; FY2025 was 13.1%
Debt / equity
0.04x
Net cash; current 2.83x
P/B
2.78x
Above its 5-year range of 0.88-1.76
Market cap
KRW 1,612T
as of 2026-09-18
Economic Moat · Key Business Segments
Memory requires enormous capital spending, so the field stays small: DRAM is a three-way market between Samsung, SK hynix and Micron. Samsung spent on the order of KRW 47.5 trillion on capex in 2025 and runs a net cash balance sheet at 0.04x debt-to-equity, giving it the capacity to ride out downcycles — it kept investing in 2023 when operating profit fell to KRW 6.57 trillion. It is, however, widely reported to trail rivals in high-bandwidth memory and foundry, so the moat does not apply evenly across the business.
A memory oligopoly
DRAM is a three-way market between Samsung, SK hynix and Micron. A single fab costs tens of trillions of won, which makes new entry effectively impossible.
A balance sheet that survives downcycles
Debt-to-equity 0.04x and current ratio 2.83x, in a net cash position. It kept investing in 2023 when operating profit fell to KRW 6.6 trillion.
Vertical integration
It owns semiconductors, displays and finished products together, so demand in one segment partly supports the others.
But HBM and foundry lag
It is widely reported to trail competitors in high-bandwidth memory and to sit behind TSMC in foundry. The moat does not apply evenly across segments.
10-Year Financial Trends
Revenue went from KRW 201.9 trillion in 2016 to KRW 333.6 trillion in 2025 and operating profit from KRW 29.2 trillion to KRW 43.6 trillion — 9-year CAGRs of +5.7% and +4.5%. The amplitude stands out. Operating profit fell from KRW 58.9 trillion in 2018 to KRW 6.57 trillion in 2023 (-84.9%), then rebounded to KRW 32.7 trillion in 2024 (+398.3%) and KRW 43.6 trillion in 2025 (+33.2%). Over the four quarters to June 2026 revenue was KRW 485.3 trillion, operating profit KRW 179.0 trillion and net income KRW 135.3 trillion — 2.5 times the previous ten-year peak of KRW 54.7 trillion in 2022.
10-Year Growth
RevenueKRW 333.6T · CAGR +5.7%
Operating IncomeKRW 43.6T · CAGR +4.5%
EPSKRW 6,603 · CAGR +8.5%
10-Year Valuation
P/E (year-end)24.3x · avg 15.6x
ROE10.8% · avg 12.7%
Operating Margin13.1% · avg 14.8%
📊 Annual Data Table (005930) — expand/collapse
Year
Revenue (B$)
Op. Income (B$)
EPS ($)
P/E (x)
ROE (%)
Op. Margin (%)
2016
2018667
292407
3156
12.5
12.5
14.5
2017
2395754
536450
5991
8.3
21
22.4
2018
2437714
588867
6461
7.1
19.6
24.2
2019
2304009
277685
3166
17.8
8.7
12.1
2020
2368070
359939
3841
21.3
10
15.2
2021
2796048
516339
5777
12.7
13.9
18.5
2022
3022314
433766
8057
7.6
17.1
14.4
2023
2589355
65670
2131
34.1
4.1
2.5
2024
3008709
327260
4974
10.5
9
10.9
2025
3336059
436011
6603
24.3
10.8
13.1
— = no data for that year/metric (P/E omitted before EPS turned positive)
9Y CAGR: Revenue +5.7% · Operating Income +4.5% · Net Income +7.9% · EPS +8.6%
Revenue, operating profit, net income and equity come from DART annual reports (consolidated, owners of the parent). Year-end closing prices are from Yahoo Finance and TTM figures from TradingView. P/E is the year-end close divided by that year's EPS; ROE is net income attributable to owners over average equity. EPS is rebased for the 2018 50:1 stock split.
Mega-Cap Value Metric Comparison
The three memory companies are shown alongside TSMC, the foundry leader. Memory trades at 8-22x while TSMC is at 31.1x. Memory is cyclical, and multiples look lowest when profit is at a peak, so the low numbers in this table cannot simply be read as cheap. Samsung also carries finished products and displays, giving it a different mix from the pure memory makers.
Metric
★ Samsung Electronics
SK hynix
TSMC
Micron
P/E (TTM)
11.6x
8.2x
31.1x
22.1x
Market cap
KRW 1,612T
KRW 1,272T
$1.97T
$1.10T
Core business
Memory & devices
Memory
Foundry
Memory
TradingView, 2026-09-18. TSMC and Micron are quoted in US dollars.
Key Risk Factors (from 10-K)
●
The low multiple comes from the denominator— Net income of KRW 135.3 trillion over the last four quarters is 2.5 times the previous ten-year peak of KRW 54.7 trillion in 2022 and 3.1 times the most recent full year of KRW 44.3 trillion. At the same share price, the multiple is 11.6x on a trailing basis but 39.3x on FY2025. The conclusion flips depending on which profit is treated as normal.Source: DART annual reports · TradingView TTM
●
The cycle swings violently— Operating profit fell 89% from KRW 58.9 trillion in 2018 to KRW 6.57 trillion in 2023 before recovering. Operating margin ranges between 2.5% and 24.2%. When memory prices turn, profit has repeatedly fallen to a fraction of its peak.Source: DART annual reports 2016-2025
●
Behind in HBM and foundry— Competitors lead in high-bandwidth memory, and a gap with TSMC in foundry is widely reported. Whether the current profit surge comes from the memory cycle or from improvement in these two areas has to be checked against quarterly results and filings.Source: Industry reports · company results
●
P/B is above its five-year range— Published P/B was 1.73x in 2021, 1.05x in 2022, 1.43x in 2023, 0.88x in 2024 and 1.76x in 2025. It now stands at 2.78x, a high range against its own history.Source: stockanalysis published ratios (FY2021-2025)
●
Geopolitical and export-control exposure— Semiconductors are directly affected by export controls and subsidy policy between countries. Production sites and customers span multiple jurisdictions, so regulatory change hits both output and sales.Source: DART annual report, business overview
✦ ValueCrab Dashboard Preview005930 KRW 259,750 +2.87% · as of 2026-09-18
My Portfolio example
Growth
Earnings
Dividend
Cash
Revenue 10Y trendKRW 333.6T · CAGR +5.7%
KRW 333.6TKRW 0.0B
20162025
P/E (TTM)11.6x
ROE31.4%
Operating margin36.9%
Debt / equity0.04x
P/B2.78x
Market capKRW 1,612T
Revenue CAGR 9Y+5.7%
EPS CAGR 9Y+8.6%
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Value Investing FAQ (005930)
Q. What are Samsung Electronics' key value-investing metrics?P/E 11.6x (TTM; 39.3x on FY2025), ROE 31.4% (TTM; 10.8% in FY2025), operating margin 36.9% (TTM; 13.1% in FY2025), debt-to-equity 0.04x, current ratio 2.83x and P/B 2.78x. Sources are DART annual reports and TradingView as of 2026-09-18.
Q. Is 11.6x earnings cheap?It depends which profit you use. On the last four quarters of net income, KRW 135.3 trillion, it is 11.6x; on 2025 net income of KRW 44.3 trillion it is 39.3x. The recent four quarters earned 2.5 times the ten-year peak, so whether that level persists is the crux.
Q. How much has it grown in ten years?Revenue went from KRW 201.9 trillion in 2016 to KRW 333.6 trillion in 2025, a 9-year CAGR of +5.7%, and operating profit from KRW 29.2 trillion to KRW 43.6 trillion, +4.5%. The average hides the path: 2023 fell to KRW 6.57 trillion.
Q. What happened in 2023?Operating profit fell 84.9% from KRW 43.4 trillion to KRW 6.57 trillion and operating margin dropped to 2.5%. It was a memory downcycle, followed by +398.3% in 2024 and +33.2% in 2025.
Q. What is the analyst price target?The average target from 36 analysts polled by S&P Global is KRW 475,850, 83.2% above the 2026-09-18 close of KRW 259,750. This is external consensus, not a ValueCrab estimate.