- Prev. close
- ₩401,008
- Volume
- 546.3K
- Market cap
- ₩93.1T
Stock and sector context
Batteriesoutflow- Sector comparison
- LG Energy Solution changed -0.75%. The 7 covered Batteries stocks in Korean averaged -5.95%, with estimated sector flow of outflow.
- Variables to watch
- EV demandLithium and other mineral pricesEV subsidy policyUSD/KRW
- Risks to check
- Slowing EV demand
- Mineral price swings
- Subsidy cuts
This compares price changes among covered stocks in the same market. It does not establish why prices moved. Variables and risks are sector reference lists.
Why a candidate
Match 31/100The match score marks how many conditions overlap on a 0 to 100 scale: the 52-week range, valuation metrics, price change and volume. It is not a probability of rising or a forecast return.
Today's read
LG Energy Solution scores 31 out of 100 on today's InverseOne match ranking, 54 of 60 in the Korean large-cap universe. The gap to its 52-week high is 32%. Today's move of -0.75% came with money flowing out; the broader Batteries sector flow is worth checking. Scores are estimates built from price and volume, a starting point for research rather than a trading signal.
Data basis: 2026-10-12 close, 10-14 00:20 KST updated, For reference only, not advice
Same-sector stocks, Batteries
Lending balance
Building9,252,369 sh
KRW 3.68T
New 271,301 sh, Returned 109,439 sh
Shares borrowed through securities lending that have not yet been returned. Borrowed shares are often sold afterwards, so the balance is used as a reference for pending sell pressure.
As of 2026-10-12, FSC stock lending data
Company profile
Unqualified opinion(주)엘지에너지솔루션
- CEO
- 김동명
- Employees
- 12,922
- Average tenure
- 8.2 years
- Average pay per employee
- ₩112M
- Listed
- 2022-01-27
- Founded
- 2020-12-01
- Auditor
- 안진회계법인
As filed 2026-10-12
Company siteCompany research
Researched 2026-09-09 11:45 KSTStrip the North American production subsidy out of the 113.3 billion won second-quarter operating profit and what is left is a loss of 127.7 billion won.
LG Energy Solution makes and sells batteries for electric vehicles, energy storage systems and small devices, and reports the whole company as a single operating segment. Revenue and other income for the second quarter of 2026 came to 7.56 trillion won, with operating profit of 113.3 billion won. In the same provisional filing the company also stated that, once the North American production subsidy from the US advanced manufacturing production credit and related schemes is taken out, second-quarter revenue was 7.32 trillion won, the operating loss 127.7 billion won and the operating margin minus 1.7 percent. Operating profit turned positive again after one quarter, yet the quarter still closed with a net loss of 328.6 billion won, and retained earnings at the end of June stood at minus 723.4 billion won against 332.2 billion won six months earlier.
Key figures
- Q2 revenue and other income
- 7.56 trillion won
- Q2 2026
- Q2 operating profit
- 113.3 billion won
- Q2 2026
- Operating profit excluding subsidy
- minus 127.7 billion won
- Q2 2026
- Q2 net result
- minus 328.6 billion won
- Q2 2026
- Borrowings including bonds
- 29.12 trillion won
- 2026-06-30
- Average utilisation rate
- 52.8%
- H1 2026
113.3 billion won and minus 127.7 billion won are the same quarter
The provisional results filing of 30 July carried second-quarter revenue of 7.56 trillion won and operating profit of 113.3 billion won. A second set of numbers for the same quarter sits in the notes at the bottom of that filing. Both headline figures include the expected North American production subsidy for the second quarter of 2026 under the US Inflation Reduction Act advanced manufacturing production credit and related schemes, and without it revenue is 7.32 trillion won, the operating result a loss of 127.7 billion won and the margin minus 1.7 percent. Against operating profit of 492.1 billion won in the same quarter a year earlier, that is a fall of 77.0 percent. Selling, general and administrative expenses for the quarter were 1,432.0 billion won, up 431.4 billion won year on year, and 260.2 billion won of that increase came from one line, the warranty provision charge, which went from 78.8 billion won to 339.0 billion won.
Q2 2026 operating profit, with and without the North American production subsidy (billion won)
- Including subsidy113.3
- Excluding subsidy-127.7
From a positive operating line to a 328.6 billion won net loss
The consolidated income statement in the half-year report sets out what comes below the 113.3 billion won operating profit. Finance income of 471.0 billion won against finance costs of 682.2 billion won takes 211.2 billion won out, the balance of other non-operating income and expense takes a further 31.3 billion won, equity method income adds 1.4 billion won, and the pre-tax result lands at a loss of 127.8 billion won. The pre-tax line is already negative, and a tax charge of 200.8 billion won on top of it widened the quarterly net loss to 328.6 billion won. For the first half the company reports an operating loss of 94.5 billion won, a pre-tax loss of 986.5 billion won, a net loss of 1,272.7 billion won and a loss of 4,502 won per share attributable to owners of the parent.
From operating profit to net loss, Q2 2026 (billion won)
The Americas hold 43 percent of quarterly revenue and 68 percent of non-current assets
Revenue and other income by region for the second quarter was 3,255.2 billion won in the Americas, 1,729.8 billion won in China, 1,527.4 billion won in Europe, 707.2 billion won in Korea and 340.7 billion won in Asia and Oceania. The Americas account for 43.1 percent. The asset side leans harder. Of the 47.87 trillion won of property, plant and equipment, intangible assets and investment property held at 30 June, 32.71 trillion won, or 68.3 percent, sits in the Americas. Two single customers each take more than 10 percent of consolidated revenue, and in the first half they accounted for 2,996.3 billion won and 1,869.1 billion won. The report names them only as external customer 1 and external customer 2.
Q2 2026 revenue and other income by region (billion won)
- Americas3255.2
- China1729.8
- Europe1527.4
- Korea707.2
- Asia and Oceania340.7
Utilisation of 52.8 percent, and 3.27 trillion won spent on plant in the same half
The half-year report puts the average utilisation rate of production facilities at 52.8 percent for the first half of 2026, after 57.8 percent in 2024 and 47.6 percent in 2025. Cash paid for property, plant and equipment in the same six months was 3.27 trillion won, while operating cash flow was minus 290.9 billion won. Borrowings including bonds went from 22.51 trillion won to 29.12 trillion won over those six months, and total liabilities from 37.83 trillion won to 47.59 trillion won. Investing cash flow is positive at 767.8 billion won because 3.77 trillion won came in from the disposal of assets held for sale.
Average utilisation rate of production facilities
%A clarification first filed in April 2025 is still unconfirmed
On 12 August 2026 the company filed another clarification of a market report. The subject is a Korea Economic Daily story of 16 April 2025 about a 10 trillion won energy storage order. The clarification says a substantial number of supply contracts were signed through subsidiaries, that further energy storage supply is under discussion with customers in Europe and Japan among others, and that the company will file again either when specific terms are fixed or within six months. The next filing date is set at 11 February 2027. Clarifications from 15 May 2025, 14 August 2025 and 13 February 2026 are listed alongside it as related filings.
Non-current assets by region, 30 June 2026 (billion won)
- Americas32708.3
- Korea6244.7
- Europe4505.8
- China3311.8
- Asia and Oceania1094.7
Common questions
- Does the 113.3 billion won operating profit for the second quarter of 2026 include the North American production subsidy?
- It does. In the provisional filing of 30 July the company also stated that, excluding that effect, second-quarter revenue was 7.32 trillion won, the operating loss 127.7 billion won and the operating margin minus 1.7 percent. The figures including the subsidy are revenue of 7.56 trillion won and operating profit of 113.3 billion won.
- Why do the operating and net lines for the quarter carry opposite signs?
- Finance costs and tax. Finance costs of 682.2 billion won exceeded finance income of 471.0 billion won by 211.2 billion won, which pushed the pre-tax result to a loss of 127.8 billion won, and a tax charge of 200.8 billion won took the net loss to 328.6 billion won.
- How hard are the plants running?
- Average utilisation was 52.8 percent in the first half of 2026, after 57.8 percent in 2024 and 47.6 percent in 2025. The half-year report groups Ochang in Korea, Nanjing in China, Michigan in the United States and Wroclaw in Poland among others into that single rate. Cash paid for property, plant and equipment in the same six months was 3.27 trillion won.
Sources
- 1.Provisional consolidated results, amended fair disclosure filing DART, Financial Supervisory Service, as of 2026-07-30
- 2.LG Energy Solution half year report (June 2026) DART, Financial Supervisory Service, as of 2026-08-13
- 3.Clarification of a market report, unconfirmed DART, Financial Supervisory Service, as of 2026-08-12
Reference information compiled from public material. Not investment advice; decisions and their consequences rest with the investor.
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Today's talking points
- Borrowed shares are piling up. The lending balance is growing.
- It is 32% below its 52-week high.
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