Changhae Ethanol Co., Ltd.: debt-to-equity, ROE and more
KOSDAQ, Legal name Changhae Ethanol Co., Ltd.
Latest figures are the FY2025 consolidated summary statements.
Latest fiscal year ratios (computed here)
- Debt/equity
- 33.6%
- Equity ratio
- 74.8%
- ROE
- 9.0%
- Op. margin
- 13.0%
- Rev. growth
- -11.0%
- Interest coverage
- n/a
Condition flags
- Operating profit for 5 straight years.
- Total equity is above paid-in capital. Not capital-impaired.
Interest coverage and dividends (OpenDART)
Interest expense and dividends come from DART's OpenDART annual-report filings, not the FSC summary statements used above. The source differs from the other tables on this page.
Interest coverage = operating profit ÷ interest expenseNo interest expense value yet for this company. Most companies fold interest expense into a single finance-costs line on their income statement, so it cannot be pulled out separately. Interest coverage is not computed here.
Dividends, last 3 fiscal years
| Fiscal year | Cash dividend per share | Payout ratio |
|---|---|---|
| 2025 | ₩600 | 34.3% |
| 2024 | ₩600 | 36.4% |
| 2023 | ₩600 | -118.5% |
Cash dividends for 3 straight years (only the 3 years OpenDART returns).
Source values from the OpenDART (금융감독원 전자공시) annual report. Report fiscal year 2025.
Ratios by year (computed here)
Debt-to-equity = total liabilities ÷ total equity × 100Equity ratio = total equity ÷ total assets × 100ROE = net income ÷ year-end total equity × 100Operating margin = operating profit ÷ revenue × 100Revenue growth = (this year − last year) ÷ last year × 100
Computed from the source figures above with these formulas. Where the source's own debt-to-equity differs from ours, both are shown for that year.
| Fiscal year | Debt/equity | Equity ratio | ROE | Op. margin | Rev. growth |
|---|---|---|---|---|---|
| FY2021 consolidated | 37.9% | 72.5% | 7.3% | 14.5% | n/a |
| FY2022 consolidated | 44.2% | 69.3% | 0.2% | 8.9% | 12.8% |
| FY2023 consolidated | 49.4% | 66.9% | -2.9% | 12.5% | 6.4% |
| FY2024 consolidated | 39.3% | 71.8% | 9.1% | 12.6% | 18.1% |
| FY2025 consolidated | 33.6% | 74.8% | 9.0% | 13.0% | -11.0% |
Source figures (FSC summary statements)
Amounts are the source values, shortened. A cell reported as zero may be blank in the source, so it is not used in any ratio.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | ₩97.0B | ₩109.4B | ₩116.4B | ₩137.5B | ₩122.3B |
| Operating profit | ₩14.1B | ₩9.8B | ₩14.6B | ₩17.4B | ₩15.9B |
| Pre-tax income | ₩13.5B | ₩2.8B | -₩892.2M | ₩15.5B | ₩16.0B |
| Net income | ₩10.1B | ₩299.4M | -₩3.7B | ₩12.4B | ₩13.1B |
| Total assets | ₩190.0B | ₩195.1B | ₩191.5B | ₩190.1B | ₩194.6B |
| Total liabilities | ₩52.3B | ₩59.8B | ₩63.3B | ₩53.6B | ₩48.9B |
| Total equity | ₩137.8B | ₩135.3B | ₩128.1B | ₩136.5B | ₩145.7B |
| Paid-in capital | ₩4.6B | ₩4.6B | ₩4.6B | ₩4.6B | ₩4.6B |
| Debt/equity (source value) | 37.9% | 44.2% | 49.4% | 39.3% | 33.6% |
Company outline (FSC)
- Market
- KOSDAQ
- Fiscal year end
- Dec
- Founded
- 1966-06-16
- Listed
- 14/07/30
- Employees
- 61
- Auditor
- 한울회계법인
- Audit opinion
- 적정의견
- Corporate reg. no.
- 2013110000107
- Outline updated
- 2026-09-24
Check the original filings
Read the annual report and audit report before you decide anything. The link opens a DART search for this company's name.
Search DART for 창해에탄올Computed from the Financial Services Commission's company outline and summary statements (data.go.kr). Data as of 2026-09-24.