매크로 컨텍스트

테마

Transformers & Distribution Infrastructure

핵심 동인

  • Q4 2025 record earnings (OPM 27.6%)
  • North America data center transformer order expansion
  • Transformer super-bottleneck — 3+ year lead times
  • 2026 operating profit forecast of KRW 1.3T

리스크

  • Overvaluation risk (P/E 20x+)
  • Order concentration risk
  • Raw material price volatility
  • FX risk

애널리스트 컨센서스

최저 350,000 KRW최고 1,270,000 KRW
현재가컨센서스 목표가

2026. 6. 16. 기준

증권사애널리스트목표가투자의견
투자 기간: 12개월

모니터링 트리거

핵심 지표

  • Quarterly operating margin trend
  • North America backlog
  • Data center transformer revenue share
  • Book-to-sales ratio

리뷰 트리거

  • Operating margin drops below 20%
  • Backlog decline
  • Valuation exceeds P/E 25x

무효화 조건

  • Large-scale order cancellations
  • Structural decline in operating margin
  • Transformer demand peak-out

노트 타임라인

진입
2026. 2. 22. · NewMoneyMoves AI

Q4 2025 OPM 27.6%, record high. Consensus upside of 7% is limited vs. current price, but earnings momentum is strong. Balancing valuation burden vs. earnings growth needed.

Related ETFs

ETFs covering the same theme as 267260.KS — alternatives when direct holding is constrained or diversification is preferred

All ETFs

Comments

생성: 2026. 2. 22.수정: 2026. 2. 24.가격 기준: 2026. 6. 16.