Sungdo Engineering & Construction (KOSDAQ: 037350) reported basic earnings per share (EPS) of KRW 1,982 for FY2025, up from KRW 1,078 in FY2024. That is a substantial year-over-year increase, but it is not enough on its own to establish that the shares are an investment opportunity: revenue fell, and the figures do not explain why EPS rose or show whether the result can persist.
What happened to Sungdo’s EPS in FY2025?
The company’s FY2025 annual report, published in 2026, records consolidated basic EPS of KRW 1,982, compared with KRW 1,078 in FY2024 and KRW 78 in FY2023. The increase from FY2024 to FY2025 is about 84%, calculated from the reported EPS values.
Basic EPS expresses the portion of a company’s earnings attributable to each ordinary share. A rise can matter to shareholders, but it should be read alongside the business’s sales, operating results, cash generation, share count and the price investors pay for those earnings.
Why EPS growth needs context
Sungdo’s revenue moved in the opposite direction in FY2025. The annual report shows consolidated revenue of KRW 743.406 billion, down from KRW 999.611 billion in FY2024. Operating income increased to KRW 57.698 billion from KRW 27.296 billion, while net income rose to KRW 28.154 billion from KRW 15.309 billion.
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| Consolidated measure | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Basic EPS | KRW 78 | KRW 1,078 | KRW 1,982 |
| Revenue | KRW 678.599 billion | KRW 999.611 billion | KRW 743.406 billion |
| Operating income | KRW 12.315 billion | KRW 27.296 billion | KRW 57.698 billion |
| Net income | KRW 1.107 billion | KRW 15.309 billion | KRW 28.154 billion |
These annual-report figures show that FY2025’s higher earnings per share and profits coincided with lower revenue. They establish the direction of reported results, not the reasons for the divergence. The cited figures do not identify whether the change came from project mix, margins, costs, share-count changes or other factors, so attributing the EPS increase to a particular driver would go beyond the evidence.
Do three years of results show a durable growth trend?
No. The three-year sequence is uneven: EPS rose from KRW 78 in FY2023 to KRW 1,078 in FY2024 and KRW 1,982 in FY2025, while revenue first climbed from KRW 678.599 billion to KRW 999.611 billion and then fell to KRW 743.406 billion. This record supports a statement about growth in FY2025 compared with FY2024; it does not by itself demonstrate a sustained pattern or forecast future earnings.
Sungdo is described by a company-profile source as working in industrial-facility and plant construction, general construction, and related engineering and project services. That overview offers business context, but the financial figures presented here do not connect specific projects or business lines to the changes in earnings.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What would establish whether the shares are an opportunity?
EPS growth is one historical data point, not a valuation test. Determining whether the shares are attractive would require dated market-price and valuation information, expectations for future earnings, and a clearer view of the quality and sustainability of profits. The reported comparison alone supplies none of those conclusions.
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One free scan finds every outdated or missing driver and matches the right update for your exact hardware.Free scan · exact hardware matchA fuller assessment would also examine cash conversion, balance-sheet exposure, project backlog and its conversion into revenue, and how reported earnings were generated. For a peer comparison, use the same time periods and definitions for Sungdo and each competitor; otherwise differences in reporting or business mix can make the comparison misleading.
Sungdo Engineering & Construction’s FY2025 basic EPS did grow year over year. But revenue contracted, the three-year pattern is volatile, and the available reported figures do not establish the cause or durability of earnings growth, a current valuation case, or a buy-or-sell conclusion. Investors would need that additional evidence before treating the EPS increase as an investment opportunity.
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