Hyundai Mobis (012330)

Hyundai Mobis is an automotive parts specialist, primarily engaged in the manufacturing of chassis, cockpit, and front-end modules, as well as the A/S parts business for Hyundai Motor Company and Kia. Key products include ADAS/sensors, IVI systems, lamps, electrification components, braking and steering systems, and safety parts. The company is focusing its capabilities on autonomous driving, connectivity, and electrification for future mobility. Recently, it has expanded its business areas into automotive semiconductors and core robotics components (actuators, sensors, controllers, batteries). As of H1 2025, the module and parts manufacturing business accounts for 78.5% of revenue, while the A/S parts business accounts for 21.5%. Its major clients include global automakers, including Hyundai Motor Company and Kia. As Korea's No. 1 automotive parts supplier, it is actively expanding orders from overseas clients. Hyundai Mobis is leading the future mobility market based on its competitive edge in advanced technologies across autonomous driving, connectivity, and electrification. Its strengths include manufacturing know-how and mass production capabilities, leveraging its experience in automotive parts design and mass production, which it is also applying to the development of core robotics components. Furthermore, it secures high profitability in the A/S parts business and is strengthening its market position through diversification of global OEM clients. Hyundai Mobis's revenue showed a growth trend from KRW 51.9063 trillion in 2022 to KRW 61.1181 trillion in 2025, with a notable 14.16% increase in 2023 compared to the previous year. Operating income steadily increased from KRW 2.0265 trillion in 2022 to KRW 3.3575 trillion in 2025, indicating improved profitability. The operating income margin clearly showed profitability improvement, rising from 3.90% in 2022 to 5.49% in 2025. Looking at the quarterly performance for 2025, Q1 recorded revenue of KRW 14.7520 trillion and operating income of KRW 776.7 billion; Q2 recorded revenue of KRW 1.1842 trillion and operating income of KRW 93.3 billion; Q3 recorded revenue of KRW -904.3 billion and operating income of KRW -89.7 billion; and Q4 recorded revenue of KRW 46.0862 trillion and operating income of KRW 2.5772 trillion. The company's debt-to-equity ratio has remained stable, decreasing from 46.55% in 2022 to 43.05% in 2025, indicating sound financial health. The current ratio consistently stayed above 200%, rising from 223.59% in 2022 to 232.55% in 2025, demonstrating excellent short-term liquidity. Return on Equity (ROE) improved from 6.58% in 2022 to 8.80% in 2024, then recorded 7.45% in 2025, showing stable profitability. Hyundai Mobis is actively responding to key trends in the future mobility industry: electrification, autonomous driving, and the transition to SDVs (Software-Defined Vehicles). The company plans to secure new growth engines through the development of automotive semiconductors and core robotics components, and to diversify its business structure by expanding orders from global automaker clients. Through these efforts, it aims to expand its global client base to 40% by 2033, aspiring to become a top 3 global parts supplier.