Posco (PKX)
NYSE:PKX
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POSCO
(NYSE:PKX)
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Rating:49Neutral
Price Target:
$56.00
â–Ľ(-11.69% Downside)
Action:ReiteratedDate:03/31/26
The score is held down primarily by deteriorating financial performance (compressed profitability and negative free cash flow) and weak technical momentum (below key moving averages with negative MACD). Offsetting these are a modest dividend yield and a cautiously constructive 2026 outlook from management, but the high P/E and near-term operational/commodity risks limit upside in the overall rating.
Positive Factors
Diversified holding-company model
POSCO’s shift to a holding-company model with ~198 subsidiaries diversifies revenue sources beyond steel into battery materials, energy and investments. That structural diversification improves resilience to steel cycles, enables active capital allocation and supports long-term growth platforms and risk dispersion.
Negative Factors
Multi-year revenue & margin erosion
Sustained revenue contraction and sharp margin compression materially reduce return on equity and earnings power. This structural weakening implies ongoing demand/price or mix headwinds that constrain reinvestment capacity and shareholder returns until product mix or market fundamentals recover.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified holding-company model
POSCO’s shift to a holding-company model with ~198 subsidiaries diversifies revenue sources beyond steel into battery materials, energy and investments. That structural diversification improves resilience to steel cycles, enables active capital allocation and supports long-term growth platforms and risk dispersion.
Read all positive factors
POSCO (PKX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$18.30B
Dividend Yield3.22%
Average Volume (3M)207.55K
Price to Earnings (P/E)37.7
Beta (1Y)0.96
Revenue Growth-8.97%
EPS Growth-67.03%
CountryUS
Employees429
SectorBasic Materials
Sector Strength58
IndustrySteel
Share Statistics
EPS (TTM)-0.50
Shares Outstanding316,966,100
10 Day Avg. Volume224,654
30 Day Avg. Volume207,549
Financial Highlights & Ratios
PEG Ratio-0.95
Price to Book (P/B)0.45
Price to Sales (P/S)0.36
P/FCF Ratio-22.96
Enterprise Value/Market Cap2.88K
Enterprise Value/Revenue0.76
Enterprise Value/Gross Profit10.22
Enterprise Value/Ebitda8.98
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)4.05
Revenue Forecast (FY)$48.82B
POSCO Business Overview & Revenue Model
Company Description
POSCO Holdings Inc., together with its subsidiaries, manufactures and sells steel rolled products and plates in South Korea and internationally. It operates through four segments: Steel, Construction, Trading, and Others. The company offers hot an...
How the Company Makes Money
POSCO makes money primarily through (1) steel sales and (2) earnings from non-steel subsidiaries and investments under the holding-company structure. Steel sales are generated by producing steel at integrated and/or downstream facilities and selli...
POSCO Earnings Call Summary
Earnings Call Date:Jan 29, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Apr 23, 2026
Earnings Call Sentiment Neutral
The call presents a mixed picture: financial results in 2025 were challenged (revenue down 5% YoY, OP down 16%) and were weighed down by sizable one‑time charges (POSCO E&C accident, PZSS divestment) and Q4 operational setbacks. Offsetting factors include improved POSCO mill margins (~5%), disciplined CapEx execution, significant portfolio restructuring cash generation (KRW 1.1 trillion in 2025), and multiple 2026 inflection points — notably Argentina lithium commercial ramp, Australian JV equity gains potential, overseas steel JV actions, and decarbonization projects. However, key near‑term risks remain (lithium margin pressure from rising spodumene, safety incidents, trade/tariff risks, and currency/cost pressure). Overall, the positives (clear strategic actions and potential commodity/upstream gains) balance the notable near‑term operational and one‑time negatives, leaving the tone cautiously neutral.Positive Updates
Revenue and EBITDA Scale
2025 consolidated revenue of KRW 69.1 trillion (down 5% YoY) with consolidated EBITDA of KRW 5.9 trillion, demonstrating substantial scale and ongoing cash-generating capacity despite a tougher market.
Negative Updates
Profit Decline and Weak Q4
2025 consolidated operating profit declined 16% YoY to KRW 1.8 trillion (down KRW 347 billion YoY). Fourth-quarter profits were especially weak, with POSCO Q4 OP around KRW 12.7 billion and POSCO's OP down KRW 337 billion from Q3.
Read all updates
Q4-2025 Updates
Positive
Negative
Revenue and EBITDA Scale
2025 consolidated revenue of KRW 69.1 trillion (down 5% YoY) with consolidated EBITDA of KRW 5.9 trillion, demonstrating substantial scale and ongoing cash-generating capacity despite a tougher market.
Read all positive updates
Company Guidance
Management framed 2026 as a potential inflection year while reiterating 2025 as the baseline: consolidated revenue fell 5% y/y to KRW 69.1 trillion, operating profit declined 16% to KRW 1.8 trillion (EBITDA KRW 5.9 trillion) with POSCO margin ~5.1%; Q4 weakness included POSCO E&C one‑off losses of KRW 190 billion and PZSS temporary costs of KRW 131.9 billion (PZSS registered ~KRW 200 billion red ink and will be divested), POSCO OP down KRW 337 billion q/q, sales volume -6% q/q to ~7.7 Mt and Pohang production cut ~4%. Guidance and targets for 2026 include Argentina Lithium Plant 1 ramp to >60% utilization by end‑March and full commercial operation by Jul–Aug, Phase 2 technical‑grade capacity reaching 25,000 tpa by Q4, group lithium sales planned at ~55,000–60,000 tpa (plans cited ~50,000–67,000 tpa capacity and a ~50/50 split between Pilbara and Argentina), spodumene prices >$2,000/t (spodumene ~$24,000/t vs. lithium hydroxide ~$19,500/t) with some brokers at ~$20k/Li, restructuring proceeds of KRW 1.1 trillion from 28 projects (KRW 1.8 trillion cumulative since 2024) and a target to complete 55 more projects by 2028 to raise KRW 1 trillion, CapEx fell to KRW 7 trillion in 2025 (from KRW 9 trillion) but 2026 CapEx will rise to fund upstream overseas and steel projects (steel-related spend cited at ~KRW 6–6.8 trillion), and group safety incidents rose to 9 with ongoing safety investment programs.POSCO Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
63
Positive
Cash Flow
40
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 69.09T | 72.69T | 77.13T | 84.75T | 76.33T |
| Gross Profit | 5.17T | 5.39T | 6.39T | 7.62T | 11.86T |
| EBITDA | 5.81T | 6.11T | 7.09T | 8.53T | 12.83T |
| Net Income | 658.00B | 1.09T | 1.70T | 3.14T | 6.62T |
Balance Sheet | |||||
| Total Assets | 10.00T> | 10.00T> | 10.00T> | 98.41T | 91.47T |
| Cash, Cash Equivalents and Short-Term Investments | 8.47T | 14.80T | 17.91T | 18.74T | 18.16T |
| Total Debt | 28.49T | 26.90T | 25.90T | 22.83T | 22.52T |
| Total Liabilities | 42.81T | 41.95T | 41.89T | 40.15T | 36.67T |
| Stockholders Equity | 55.73T | 55.39T | 54.15T | 52.51T | 50.43T |
Cash Flow | |||||
| Free Cash Flow | -1.08T | -1.50T | -1.06T | 766.31B | 2.75T |
| Operating Cash Flow | 4.57T | 6.66T | 6.17T | 6.19T | 6.26T |
| Investing Cash Flow | -5.93T | -4.49T | -7.39T | -4.22T | -5.58T |
| Financing Cash Flow | 1.59T | -2.30T | -178.59B | 1.32T | -768.67B |
POSCO Technical Analysis
Positive
63.41
Price Trends
61.66
Positive
58.31
Positive
55.72
Positive
Market Momentum
0.22
Negative
62.14
Neutral
93.41
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PKX, the sentiment is Positive. The current price of 63.41 is above the 20-day moving average (MA) of 58.42, above the 50-day MA of 61.66, and above the 200-day MA of 55.72, indicating a bullish trend. The MACD of 0.22 indicates Negative momentum. The RSI at 62.14 is Neutral, neither overbought nor oversold. The STOCH value of 93.41 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for PKX.
POSCO Risk Analysis
POSCO disclosed 29 risk factors in its most recent earnings report. POSCO reported the most risks in the "Macro & Political" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
POSCO Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | $16.67B | 20.53 | 10.27% | 1.63% | -0.88% | -25.15% | |
65 Neutral | $45.24B | 11.03 | 5.87% | 1.03% | -4.51% | ― | |
65 Neutral | $42.39B | 21.58 | 8.49% | 1.34% | 1.66% | -31.25% | |
65 Neutral | $8.20B | 17.63 | 3.53% | 7.02% | -16.69% | 585.38% | |
63 Neutral | $27.61B | 21.13 | 13.31% | 1.11% | -1.49% | -31.82% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
49 Neutral | $18.30B | 37.71 | 1.19% | 3.22% | -8.97% | -67.03% |
* Basic Materials Sector Average
PKX
POSCO
63.14
18.01
39.91%
MT
ArcelorMittal
60.64
34.32
130.36%
NUE
Nucor
186.12
76.96
70.50%
RS
Reliance Steel
322.20
48.49
17.72%
STLD
Steel Dynamics
190.57
73.41
62.65%
TX
Ternium SA
41.79
17.01
68.64%
POSCO Corporate Events
POSCO HOLDINGS Files 2025 Business Report and Details Expanding Global Subsidiary Portfolio
Mar 31, 2026
POSCO HOLDINGS INC., the Korean industrial holding company that controls a broad portfolio of steel, energy, resource and technology subsidiaries, has formalized its transition from an operating steelmaker to a group-level management platform foll...
POSCO Confirms Cleveland-Cliffs MOU in U.S. Steel Expansion Strategy
Mar 31, 2026
On December 5, 2025, Korean media reported that businessman Kim Jae-chul was pursuing a 10 trillion won bid for shipping line HMM, calling it the crown jewel of his ambitions. POSCO HOLDINGS later clarified, via a March 31, 2026 filing, that this ...
POSCO Holdings Reaffirms 2024 Value-Up Plan and High-Dividend Policy at March 24 Meeting
Mar 25, 2026
POSCO Holdings Inc. on March 24, 2026, confirmed its previously announced 2024 Corporate Value-up Plan, targeting compound annual revenue growth of 6–8% and a return on invested capital of 6–9% through 2027, driven by expansion in stee...
POSCO Holdings Approves 2025 Results, Dividend and Governance Reforms at March Shareholders’ Meeting
Mar 24, 2026
POSCO Holdings reported its 2025 financial results at its 58th Ordinary General Meeting of Shareholders in March 2026, approving consolidated revenue of KRW 69.1 trillion, operating profit of KRW 1.83 trillion and profit of KRW 504.4 billion, alon...
POSCO Holdings Lowers Exchange Price on 2021 Euro-Denominated Bonds After Q4 2025 Dividend
Mar 24, 2026
On February 28, 2026, POSCO Holdings adjusted the exchange price of its foreign currency-denominated exchangeable bonds issued on September 1, 2021, cutting the reference price from KRW 425,631 to KRW 419,025 per share. This dividend-driven techni...
POSCO Files 2025 Audited Separate Financials With SEC, Books Impairment on Subsidiaries
Mar 20, 2026
POSCO Holdings Inc. on March 20, 2026 furnished with the U.S. Securities and Exchange Commission its audited separate financial statements for the years ended Dec. 31, 2025 and 2024, along with an independent auditor’s report and documentati...
POSCO Holdings Files 2025 Audited Consolidated Results With Clean Opinions
Mar 20, 2026
On March 20, 2026, POSCO HOLDINGS INC. filed a Form 6-K in the United States to furnish its audited consolidated financial statements for the years ended December 31, 2025 and 2024, together with an independent auditor’s report and an intern...
POSCO Holdings Sets March 24 Shareholder Meeting amid Weaker 2025 Earnings and Governance Changes
Feb 19, 2026
POSCO HOLDINGS INC. has called its 58th Ordinary General Meeting of Shareholders for March 24, 2026, in Seoul, where investors will vote on approval of the 2025 financial statements and a year-end dividend of KRW 2,500 per share, completing a KRW ...
POSCO Holdings Launches Proxy Drive Ahead of March 24 Governance Overhaul Vote
Feb 19, 2026
POSCO Holdings said in a February 19, 2026 filing that it will convene its 58th Ordinary General Meeting of Shareholders on March 24, 2026 and begin proxy solicitation on February 24 to ensure smooth proceedings and secure a quorum. The company ha...
POSCO Holdings to Cancel KRW 635 Billion in Treasury Shares by March 31, 2026
Feb 19, 2026
On February 19, 2026, POSCO Holdings’ board approved the cancellation of 1,691,425 shares of common stock, representing 2% of the 84,571,230 shares outstanding at the time of a July 2024 buyback-cancellation plan, with the retirement valued ...
POSCO Sets February 27, 2026 Record Date for 2025 Year-End Dividend
Feb 3, 2026
On February 3, 2026, POSCO Holdings Inc. announced that it had set February 27, 2026 (Seoul time) as the record date to determine shareholders entitled to receive its year-end dividend for the 2025 fiscal year. By fixing this record date, the comp...
POSCO Holdings Board Approves KRW 2,500 Year-End Dividend for 2025
Feb 3, 2026
At a board meeting held on February 3, 2026, POSCO Holdings Inc. approved a year-end cash dividend of 2,500 Korean won per share, representing a dividend yield of 0.7% based on the company’s average share price over the week preceding the re...
POSCO HOLDINGS Sets March 24, 2026 General Meeting of Shareholders
Feb 3, 2026
POSCO HOLDINGS INC. announced that its board of directors, at a meeting held on February 3, 2026, resolved to convene a General Meeting of Shareholders on March 24, 2026, at 9:00 a.m. KST at the POSCO Center in Seoul. While the detailed agenda wil...
POSCO to Pay KRW 605.7 Billion Year-End Dividend to Parent POSCO HOLDINGS
Feb 2, 2026
On February 2, 2026, POSCO’s board of directors approved a year-end cash dividend of KRW 6,278 per share, based on a record date of December 31, 2025, for a total payout of KRW 605.7 billion. As POSCO is wholly owned by POSCO HOLDINGS, the e...
POSCO Holdings Posts Lower 2025 Earnings but Targets 2026 Profit Rebound on Lithium Ramp-Up and Asset Sales
Jan 29, 2026
On January 29, 2026, POSCO Holdings reported provisional consolidated full-year 2025 results showing a broad earnings slowdown despite a recovery in its core steel business. Revenue fell 5.0% year-on-year to KRW 69.09 trillion, operating profit de...
POSCO Subsidiary Lifts 2025 Profit on Cost Cuts and Premium Steel Mix Despite Lower Sales
Jan 29, 2026
On January 29, 2026, POSCO Holdings reported that its subsidiary POSCO’s consolidated operating income for the 2025 fiscal year rose 28.6% year-on-year to approximately KRW 2.23 trillion, despite a 2.4% decline in sales to about KRW 43.56 tr...
POSCO Holdings Profit Slumps on Construction Hit and Weak Battery Materials Market in 2025
Jan 29, 2026
On January 29, 2026, POSCO Holdings reported preliminary consolidated results for the fiscal year ended December 31, 2025, showing a 4.9% year-on-year decline in sales to KRW 69.1 trillion and a 15.9% drop in operating income to KRW 1.83 trillion,...
POSCO Reports Higher 2025 Profits Despite Revenue Decline
Jan 29, 2026
On January 29, 2026, POSCO HOLDINGS disclosed provisional 2025 separate financial results for its main subsidiary POSCO, showing revenue of KRW 35.01 trillion, down 6.8% from 2024’s KRW 37.56 trillion. Despite the top-line decline, profitabi...
POSCO Holdings Schedules January 29 Call on FY2025 Provisional Earnings and Business Plan
Jan 15, 2026
On January 15, 2026, POSCO Holdings Inc. announced it will hold a conference call on January 29, 2026 at 3:00 p.m. KST to present its provisional earnings for fiscal year 2025 and outline its business plan to analysts, institutional investors and ...
POSCO Clarifies HMM-Related Reports, Confirms Preliminary U.S. Expansion Talks With Cleveland-Cliffs
Jan 5, 2026
On January 5, 2026, POSCO Holdings filed a report with the U.S. Securities and Exchange Commission clarifying a December 5, 2025 article in Maeil Business Newspaper concerning a high-profile 10 trillion won takeover battle for shipping company HMM...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
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This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.