This is a sample report (data as of 2026-02-20). Get a fresh analysis for free.
Samsung Electronics
190,100원at analysis · now 262,000원
Samsung Electronics is an integrated semiconductor and electronics company spanning memory (DRAM, NAND), foundry, and smartphones and appliances. Results depend most on the memory cycle, and HBM3E mass production for AI servers plus the 2nm foundry transition are reshaping the business. Financially it holds net cash and operates at larger scale than most peers. Chinese memory entrants and foundry yields remain variables to monitor.
25.03 · DART 정기보고서 기준
What to watchKST
What to watch: (1) quarterly preliminary results, about a week after quarter end; (2) HBM3E supply progress with key customers; (3) 2nm GAA foundry yields and customer wins; (4) memory pricing and inventory levels.
- 10/9(금)국내 증시 휴장 (한글날)
- 10/22(목)한국은행 금통위 기준금리 결정
- 10/29(목)FOMC 금리 결정
- 10/29(목)삼성전자 실적 설명회(IR)
- 11/26(목)한국은행 금통위 기준금리 결정
Strengths
Samsung commands dominant market share as the world's #1 memory chipmaker, with an entrenched technology leadership in DRAM and NAND. It has secured HBM3E mass production capabilities to enter the AI chip market. Vertical integration (materials → components → finished products) delivers superior cost competitiveness. Annual R&D spending exceeding KRW 30 trillion and a diversified portfolio across smartphones and consumer electronics provide earnings stability.
Weaknesses
The foundry business continues to face yield challenges, and closing the technology gap with TSMC will take time. Chinese challenger CXMT entering the memory market is increasing pricing pressure. Delays in NVIDIA HBM qualification have left Samsung's HBM revenue share lower than rival SK hynix. Geopolitical risks from US-China semiconductor restrictions add further uncertainty.
Risks
- Memory price pressure from CXMT's full-scale entry into the DRAM market
- Potential large-scale capex losses if 2nm GAA foundry yields fall short
- China revenue contraction risk from tightening US-China semiconductor trade restrictions
- Possible further delays in HBM3E NVIDIA qualification
- Smartphone and consumer electronics demand weakness amid a global economic slowdown
Financials
| Item | 24.09 | 24.12 | 25.03 |
|---|---|---|---|
| Revenue | 79,100,000 | 75,800,000 | 72,500,000 |
| Operating Income | 12,200,000 | 10,800,000 | 9,500,000 |
| Net Income | 10,100,000 | 8,900,000 | 7,800,000 |
| ROE | 9.8% | 8.5% | 7.2% |
| Debt Ratio | 35.2% | 34.8% | 33.5% |
| PER | 12.5 | 14.2 | 15.8 |
| PBR | 1.2 | 1.1 | 1.0 |
DART 정기보고서 기준
Latest news
- Samsung Electronics passes NVIDIA HBM3E qualification test, mass production begins
- Samsung foundry 2nm GAA yield improvement sends shares higher
- AI chip demand surges, Samsung memory earnings surprise expected
- Samsung Q1 operating profit projected to beat consensus
- Foreign investors extend Samsung net buying streak to 5 days
Ask AI about this report
Questions work on real reports.
Make this analysis ›