매출 성장 + 마진 확대 + FCF 양수
Positive매출이 +4.5% 성장하면서 영업이익률이 6.3%에서 6.9%로 확대되었다. FCF도 양수를 유지하여 질적 성장이 확인된다.
Evidence
매출 YoY +4.5%영업이익률 6.3%→6.9%FCF 232,480
Dongwon Systems
A014820 · KOSPI₩20,600+2.23%
2026-08-03 closeDongwon Systems — pricey right now, or cheap? And what signals are flashing today?
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AI Insight
Why these signals fired — only backtest-proven edge, told honestly
Strong-buy signal — the real recordrecord · not a prediction
Not this one stock, but every strong-buy pick we actually published (Korea market). When this stock flashes the signal, it is treated by the same rule.(as of 2026-08-03)
Last 30 sessions
648 picks
Next-day win rate
49.2%
Avg next-day
-0.17%
vs market
+0.72%p
Beat the market on 62.1% of picks (each pick vs its own day’s market average).
Recent publish days (next-day win rate)
07-31 0%07-30 66.7%07-29 0%07-28 45%07-27 20%07-25 36.4%07-21 55.6%07-20 53.8%07-16 53.3%07-15 50%07-14 71.4%07-13 31.2%
This stock has not flashed this signal recently — the record above is the signal’s own, not this stock’s.
Entry is the latest close at publish time; next-day is the following close. “Market” is the equal-weighted average of every stock in the same market that day; delisted names are excluded from both. Fees, taxes and slippage are not included. An observed record over a short window, not a pre-registered backtest. Not investment advice.
Valuation Grades
Relative to 76 비철,목재등 peers · not investment advice
Valuation in its own history
PER 8.36 · PBR 0.72 — own history (2000-01~) percentiles 100/100 · 100/100
PER100/100
PBR100/100
Higher indicates lower valuation relative to its history (based on earnings and book yields).
Earnings percentiles can fluctuate for cyclical companies (including loss periods), so the book basis is shown alongside. Companies with large share buybacks can have structurally high PBR. Factual information, not investment advice.
Annual dividend
Split-adjusted annual DPS history and available grade axes
Paid 11 consecutive years · Raised 1 consecutive years · Yield 4.37% (based on 2025 payment of 900원) · 3-year growth +14.5%
Per-share amount adjusted for splits and capital reductions · Factual information, not investment advice.
Financial safety
Reference indicatorAs of 2024Safe zoneFinancial-metric reference signal
Altman Z'' zoneZ'' 3.13
Distress
Grey
Safe
- Altman Z''
- 3.13
- Beneish M-Score
- -2.77
- Sloan accrual
- -5.35%
No statistical flag
부실·조작 위험을 나타내는 사실 지표입니다. 투자 조언이 아니며, 검증 전이라 참고용입니다.
Factual information, not investment advice.
Why has this company moved this way?
Auditable observations with the original numeric evidence.
Factual information, not investment advice.
Earnings quality · Piotroski F-Score
9/9Strong
Piotroski measures year-over-year financial improvement, not absolute quality.
Financial improvement score9/9
Profitability
- Positive ROAPass
- Positive OCFPass
- Improving ΔROAPass
- Accruals (OCF > net income)Pass
Leverage & liquidity
- Lower debtPass
- Higher current ratioPass
- No new sharesPass
Efficiency
- Higher gross marginPass
- Higher asset turnoverPass
Calculation note: F7(신주)은 equity/asset 유지로 근사
Already-stable companies may score lower when year-over-year improvement is limited.
Factual information, not investment advice.
Industry structure
KRAs of 2026-08-03비철,목재등
This stock is in 비철,목재등: revenue rank 9 of 74, share 2.5%.
9 / 742.5%revenue share
Who dominates this industry?
- 1고려아연22.4%
- 2아이티센글로벌9.2%
- 3풍산8.5%
- 4해성산업4.1%
- 5한솔제지4.1%
- 6동원시스템즈2.5%
Concentration
DistributedCR3 40.1%HHI and CR3 are separate industrial-organization facts; they are not the polarization verdict.
Polarization
MixedConsistentPolarization measures industry gaps and structure, not valuation, forecast, or investment advice.
Margin lens
- IQR%p
- 5.57
- Direction
- 확대
- Level
- 좁음
- Years
- 6
Value lens
- P90/P10
- 5.6
- Median P/B
- 0.51
- Level
- 보통
- n
- 73
Survivorship note: 현재 산업 멤버십을 과거 연도에 소급 적용 — 과거 진입·퇴출 기업 미반영(복원 불가)
Factual information, not investment advice.
Risk sensitivity — adverse assumptions
Metric changes under stated assumptions; not a forecast or investment advice.
Base metrics
- Operating margin
- 6.9%
- Interest coverage
- 4.2x
- Return on equity (ROE)
- 8.7%
Operating margin −5pp
Interest coverage riskInterest coverageBase 4.2x adverse case 1.2x
Return on equity (ROE)Base 8.7% adverse case 0.4%
Revenue −15%
TolerableInterest coverageBase 4.2x adverse case 3.6x
Return on equity (ROE)Base 8.7% adverse case 6.7%
Interest rate +2pp
TolerableInterest coverageBase 4.2x adverse case 2.5x
Return on equity (ROE)Base 8.7% adverse case 6.7%
Interest coverage limit
Current margin 5.3ppInterest coverage limit at an operating margin of 1.6%
Interest expense coverage threshold
Key suppliers · Annual report
Annual reportDART · 2026-05-14Suppliers disclosed by the company in its 2026-05-14 annual report.
Purchase amount
KRW 100m- 티씨씨동양KRW 26.6T
- PETKRW 8.9T
- RESINKRW 8.9T
- PIPEKRW 8.3T
- 제이에이테크KRW 8.3T
- STRIPKRW 8.1T
- 대원CKRW 8.1T
- 한화케미칼KRW 8.1T
- TECHKRW 6.8T
- 태성산업KRW 6.8T
+8 more with disclosed amounts — included in coverage
Suppliers without disclosed amount
Financials at a glance
Dongwon Systems's latest results and balance sheet. The bars track the last three periods.
Connections
AI-extracted related companies · for reference
Customers
Competitors
📦 ETFs holding this stock
by weight · top-10 constituents basisPassive money holding this stock ≈ 1억(lower bound — top-10 basis, not a forecast)
Factual holdings info from daily disclosures — not a recommendation.
Look up another stock →Recent filings
Dongwon Systems's latest filings on Korea's DART. Open a headline for a reference summary and the original.
Source: DART (Korea electronic disclosure)
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