PKXPOSCO Holdings Inc.
Is the business good?
The checks split: nothing decisive, though earnings fully cash-backed (3.9×).
Operating profit is fully backed by cash. Conversion is worsening vs a year ago.
Margins have held roughly steady, a stable cost structure.
A balanced mix of margins, efficiency, and leverage. ROE 1% = margin × turnover × leverage.
Unless marked, from derived.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is PKX?
POSCO Holdings Inc. earns 1.7% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
Return on invested capital · cost of capital 9.0% · 7.3 points below what the capital costs: growth destroys value
- Operating margin
- 2.1%
Operating margin · Steel median 5.3% · fiscal year to FY2025
- Cash conversion
- 3.92×
Cash conversion · 6.05× a year ago · operating cash flow covers the operating profit after tax
- Share count, year on year
- −3.0%
Share count, year on year · bought back, each share owns more of the company
| Year | Operating margin |
|---|---|
| FY2020 | 3.6% |
| FY2021 | 12% |
| FY2022 | 5.1% |
| FY2023 | 3.5% |
| FY2024 | 2.0% |
| FY2025 | 2.1% |
Details›
- Gross marginfiscal year to FY2025
- 7.4%
- Operating marginfiscal year to FY2025
- 2.1%
- Net marginfiscal year to FY2025
- 1.0%
- Free cash flow margin
- −1.6%
- R&D as % of revenue
- 0.76%
- Revenue, trailing twelve months
- $68.99T
- Free cash flow, trailing twelve months
- −$1.09T
- Net income, trailing twelve months
- $690.7B
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 1.7%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.