매크로 컨텍스트

테마

Gas Turbine & Datacenter Power

핵심 동인

  • Global big-3 supply gap (5~7yr lead time)
  • Cumulative 12 US hyperscaler unit wins
  • 30-year LTSA service revenue lock-in
  • Core BYOP (Bring Your Own Power) beneficiary

리스크

  • Valuation overhang (+5x in 1yr, EV/EBITDA ~26x)
  • Big-3 capacity recovery shrinks the gap
  • Carbon regulation tightening
  • Order concentration risk

애널리스트 컨센서스

최저 0 KRW최고 0 KRW
현재가컨센서스 목표가

2026. 6. 16. 기준

증권사애널리스트목표가투자의견
투자 기간: 12 months

모니터링 트리거

핵심 지표

  • New gas turbine order disclosures
  • LTSA service revenue mix
  • Backlog trajectory
  • Quarterly OPM

리뷰 트리거

  • Quarter without new hyperscaler win
  • Big-3 capacity recovery announcement
  • EV/EBITDA exceeds 30x

무효화 조건

  • Datacenter power demand peakout
  • Major order cancellations
  • SMR/fuel-cell alternative commercialization

노트 타임라인

진입
2026. 4. 30. · MoneyMoves AI

Highlighted as Korea's #1 in the power bottleneck within the 2026-04-30 'AI Infra 4 Bottlenecks' report. Structural alpha from filling big-3 capacity gap + 30-year LTSA cash flow partially justifies the valuation. But the 1-year 5x rally is largely priced in.

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Comments

생성: 2026. 4. 30.수정: 2026. 5. 1.가격 기준: 2026. 6. 16.