Balance sheetRatio

51 Korea Exchange companies holding more cash than all their debt

51companies

Cash and equivalents exceed every borrowing on the balance sheet, so net debt measured against earnings is negative.

Stocks · Non-US shares · Korea Exchange (KSC) · Ranked by Net debt to EBITDA in times, most cash on the balance sheet first · Rebuilt 2026-11-07 at 09:25 UTC

How this list is built

Net debt is every borrowing on the newest filed balance sheet less cash and equivalents, over EBITDA from the same year's income statement. The list is ordered by how much of the balance sheet is cash, because a near-zero EBITDA makes the ratio enormous without making the company any richer. The screen: companies listed on Korea Exchange, graded A or B for the quality of what they report; a median daily traded value of at least 250,000 US dollars over 90 sessions, stated in each listing's own currency, so a company nobody can trade is never on the list; and no positive price to earnings under 1, which no real company earns, and no close sitting the whole of its own 52-week high below that high, which no listing that still trades can do. 421 companies passed tonight. Each market is ranked on its own and never added to another. Figures as recomputed on 2026-11-07.

The list

50 of 51 companies

Owes less than it holds in cash, ranked by Net debt to EBITDA, most cash on the balance sheet first
#	Company	Market	Sector	Net debt to EBITDA, in times	Debt to equity, in ratio	Current ratio, in ratio	Tangible equity ratio, in ratio	Net debt to EBITDA over time	Source
1	KSC:181710NHN Corporation	KSC	Technology	-5.3x	0.20	1.43	0.32	Net debt to EBITDA, net debt to ebitda: -3.06 on 2017-12-31 to -5.25 on 2025-12-31, down 72%.	Source n/a
2	KSC:214320INNOCEAN Worldwide, Inc.	KSC	Communication Services	-1.8x	0.26	1.38	0.32	Net debt to EBITDA, net debt to ebitda: -1.75 on 2019-12-31 to -1.81 on 2025-12-31, down 3%.	Source n/a
3	KSC:035720Kakao Corp.	KSC	Communication Services	-1.7x	0.36	1.41	0.27	Net debt to EBITDA, net debt to ebitda: 1.54 on 2016-12-31 to -1.66 on 2025-12-31, down 208%.	Source n/a
4	KSC:317400Xi S&D Inc.	KSC	Real Estate	-6.5x	0.19	2.52	0.38	Net debt to EBITDA, net debt to ebitda: 2.32 on 2020-12-31 to -6.52 on 2025-12-31, down 381%.	Source n/a
5	KSC:484870MNC Solution Co., Ltd.	KSC	Industrials	-1.4x	0.003	1.39	0.39	Net debt to EBITDA, net debt to ebitda: 1.21 on 2020-12-31 to -1.40 on 2025-12-31, down 216%.	Source n/a
6	KSC:267260HD Hyundai Electric	KSC	Industrials	-0.7x	0.13	1.34	0.42	Net debt to EBITDA, net debt to ebitda: 13.83 on 2020-12-31 to -0.65 on 2025-12-31, down 105%.	Source n/a
7	KSC:375500DL E&C Co.,Ltd.	KSC	Industrials	-3.4x	0.21	1.51	0.54	Net debt to EBITDA, net debt to ebitda: -0.85 on 2021-12-31 to -3.44 on 2025-12-31, down 305%.	Source n/a
8	KSC:020150Lotte Energy Materials Corp.	KSC	Industrials	-3.2x	0.11	8.77	0.58	Net debt to EBITDA, net debt to ebitda: -3.02 on 2019-12-31 to -3.24 on 2024-12-31, down 7%.	Source n/a
9	KSC:005690Pharmicell Co., Ltd.	KSC	Healthcare	-0.4x	0.12	4.92	0.78	Net debt to EBITDA, net debt to ebitda: -3.14 on 2019-12-31 to -0.39 on 2025-12-31, up 88%.	Source n/a
10	KSC:000720Hyundai Engineering & Construction Co.,Ltd.	KSC	Industrials	-1.1x	0.48	1.48	0.28	Net debt to EBITDA, net debt to ebitda: 0.33 on 2016-12-31 to -1.14 on 2025-12-31, down 445%.	Source n/a
11	KSC:030000Cheil Worldwide Inc.	KSC	Communication Services	-0.8x	0.18	1.77	0.40	Net debt to EBITDA, net debt to ebitda: -1.88 on 2016-12-31 to -0.79 on 2025-12-31, up 58%.	Source n/a
12	KSC:082740Hanwha Engine Co., Ltd.	KSC	Industrials	-1.4x	0.11	1.69	0.32	Net debt to EBITDA, net debt to ebitda: 3.68 on 2020-12-31 to -1.44 on 2025-12-31, down 139%.	Source n/a
13	KSC:030190NICE Information Service Co., Ltd.	KSC	Financial Services	-0.5x	0.09	2.03	0.68	Net debt to EBITDA, net debt to ebitda: -0.55 on 2022-12-31 to -0.46 on 2025-12-31, up 16%.	Source n/a
14	KSC:214330Kumho HT, Inc	KSC	Consumer Cyclical	-0.9x	0.17	2.13	0.70	Net debt to EBITDA, net debt to ebitda: 1.51 on 2018-12-31 to -0.95 on 2025-12-31, down 163%.	Source n/a
15	KSC:241560Doosan Bobcat Inc.	KSC	Industrials	-0.3x	0.24	1.65	0.22	Net debt to EBITDA, net debt to ebitda: 2.55 on 2016-12-31 to -0.28 on 2025-12-31, down 111%.	Source n/a
16	KSC:051905LG H&H Co., Ltd.	KSC	Consumer Defensive	-2.1x	0.04	2.79	0.72	Net debt to EBITDA, net debt to ebitda: 0.50 on 2016-12-31 to -2.12 on 2025-12-31, down 524%.	Source n/a
17	KSC:051900LG H&H Co., Ltd.	KSC	Consumer Defensive	-2.1x	0.04	2.79	0.72	Net debt to EBITDA, net debt to ebitda: 0.50 on 2016-12-31 to -2.12 on 2025-12-31, down 524%.	Source n/a
18	KSC:062040Sanil Electric Co., Ltd.	KSC	Industrials	-0.6x	0.002	4.84	0.84	Net debt to EBITDA, net debt to ebitda: 5.35 on 2016-12-31 to -0.59 on 2025-12-31, down 111%.	Source n/a
19	KSC:069260TKG Huchems Co., Ltd.	KSC	Basic Materials	-1.1x	0.05	2.14	0.76	Net debt to EBITDA, net debt to ebitda: 0.73 on 2019-12-31 to -1.07 on 2025-12-31, down 247%.	Source n/a
20	KSC:035420NAVER Corporation	KSC	Communication Services	-0.6x	0.15	1.36	0.64	Net debt to EBITDA, net debt to ebitda: -0.87 on 2019-12-31 to -0.61 on 2025-12-31, up 30%.	Source n/a
21	KSC:000270Kia Corporation	KSC	Consumer Cyclical	-1.0x	0.04	1.57	0.60	Net debt to EBITDA, net debt to ebitda: 0.95 on 2016-12-31 to -0.96 on 2025-12-31, down 201%.	Source n/a
22	KSC:058430POSCO STEELEON Co., Ltd.	KSC	Basic Materials	-1.3x	0.04	2.94	0.75	Net debt to EBITDA, net debt to ebitda: 3.07 on 2018-12-31 to -1.33 on 2025-12-31, down 143%.	Source n/a
23	KSC:025540Korea Electric Terminal Co., Ltd.	KSC	Industrials	-0.5x	0.08	2.94	0.74	Net debt to EBITDA, net debt to ebitda: -0.25 on 2019-12-31 to -0.46 on 2025-12-31, down 84%.	Source n/a
24	KSC:036530SNT Holdings Co., Ltd.	KSC	Industrials	-0.9x	0.05	3.58	0.41	Net debt to EBITDA, net debt to ebitda: -5.19 on 2017-12-31 to -0.93 on 2025-12-31, up 82%.	Source n/a
25	KSC:036570Ncsoft Corporation	KSC	Technology	-1.4x	0.11	3.53	0.77	Net debt to EBITDA, net debt to ebitda: -0.05 on 2018-12-31 to -1.41 on 2025-12-31, down 2720%.	Source n/a
26	KSC:020120KidariStudio, Inc.	KSC	Communication Services	-0.2x	0.18	1.03	0.27	Net debt to EBITDA, net debt to ebitda: -0.02 on 2016-12-31 to -0.16 on 2025-12-31, down 700%.	Source n/a
27	KSC:000100Yuhan Corporation	KSC	Healthcare	-0.03x	0.15	2.06	0.66	Net debt to EBITDA, net debt to ebitda: -0.19 on 2016-12-31 to -0.03 on 2025-12-31, up 84%.	Source n/a
28	KSC:005935Samsung Electronics Co., Ltd.	KSC	Technology	-0.3x	0.07	2.33	0.73	Net debt to EBITDA, net debt to ebitda: -0.32 on 2016-12-31 to -0.30 on 2025-12-31, up 6%.	Source n/a
29	KSC:005930Samsung Electronics Co., Ltd.	KSC	Technology	-0.3x	0.07	2.33	0.73	Net debt to EBITDA, net debt to ebitda: -0.32 on 2016-12-31 to -0.30 on 2025-12-31, up 6%.	Source n/a
30	KSC:105840Woojin Inc.	KSC	Technology	-1.1x	0.06	4.41	0.65	Net debt to EBITDA, net debt to ebitda: 0.69 on 2020-12-31 to -1.08 on 2025-12-31, down 257%.	Source n/a
31	KSC:009540Korea Shipbuilding & Offshore Engineering Co., Ltd.	KSC	Industrials	-0.4x	0.11	1.17	0.33	Net debt to EBITDA, net debt to ebitda: 2.62 on 2017-12-31 to -0.39 on 2025-12-31, down 115%.	Source n/a
32	KSC:003240Taekwang Industrial Co., Ltd.	KSC	Basic Materials	-121.9x	0.002	7.70	0.86	Net debt to EBITDA, net debt to ebitda: -0.65 on 2020-12-31 to -121.94 on 2025-12-31, down 18660%.	Source n/a
33	KSC:103590Iljin Electric Co.,Ltd	KSC	Industrials	-0.3x	0.16	1.16	0.38	Net debt to EBITDA, net debt to ebitda: 8.07 on 2019-12-31 to -0.27 on 2025-12-31, down 103%.	Source n/a
34	KSC:015860ILJIN Holdings Co., Ltd.	KSC	Industrials	-0.2x	0.33	1.61	0.21	Net debt to EBITDA, net debt to ebitda: 3.69 on 2019-12-31 to -0.17 on 2025-12-31, down 105%.	Source n/a
35	KSC:307950Hyundai Autoever Corporation	KSC	Technology	-0.2x	0.11	1.74	0.43	Net debt to EBITDA, net debt to ebitda: 0.53 on 2019-12-31 to -0.24 on 2025-12-31, down 145%.	Source n/a
36	KSC:033270Korea United Pharm Inc.	KSC	Healthcare	-0.4x	0.03	5.63	0.87	Net debt to EBITDA, net debt to ebitda: -0.11 on 2020-12-31 to -0.43 on 2025-12-31, down 291%.	Source n/a
37	KSC:329180Hd Hyundai Heavy Industries Co., Ltd.	KSC	Industrials	-0.5x	0.07	0.98	0.35	Net debt to EBITDA, net debt to ebitda: 22.99 on 2019-12-31 to -0.50 on 2025-12-31, down 102%.	Source n/a
38	KSC:322000Hyundai Energy Solutions Co.,Ltd	KSC	Energy	-0.3x	0.04	4.04	0.78	Net debt to EBITDA, net debt to ebitda: -1.74 on 2019-12-31 to -0.35 on 2025-12-31, up 80%.	Source n/a
39	KSC:002790AMOREPACIFIC Holdings Corp.	KSC	Consumer Defensive	-0.4x	0.10	2.51	0.19	Net debt to EBITDA, net debt to ebitda: -1.02 on 2017-12-31 to -0.39 on 2025-12-31, up 62%.	Source n/a
40	KSC:004000LOTTE Fine Chemical Co., Ltd.	KSC	Basic Materials	-0.4x	0.03	4.25	0.89	Net debt to EBITDA, net debt to ebitda: 3.47 on 2016-12-31 to -0.44 on 2025-12-31, down 113%.	Source n/a
41	KSC:259960KRAFTON, Inc.	KSC	Technology	-0.02x	0.08	3.07	0.69	Net debt to EBITDA, net debt to ebitda: -0.88 on 2020-12-31 to -0.02 on 2025-12-31, up 98%.	Source n/a
42	KSC:001800ORION Holdings Corp.	KSC	Consumer Defensive	-0.2x	0.09	2.80	0.27	Net debt to EBITDA, net debt to ebitda: 0.44 on 2018-12-31 to -0.17 on 2025-12-31, down 139%.	Source n/a
43	KSC:029460KC Co., Ltd.	KSC	Technology	-0.2x	0.05	3.53	0.73	Net debt to EBITDA, net debt to ebitda: -0.78 on 2016-12-31 to -0.20 on 2025-12-31, up 74%.	Source n/a
44	KSC:453340Hyundai Green Food	KSC	Consumer Defensive	-0.03x	0.07	1.88	0.67	Net debt to EBITDA, net debt to ebitda: -0.09 on 2023-12-31 to -0.03 on 2025-12-31, up 67%.	Source n/a
45	KSC:008060Daeduck Co.,Ltd.	KSC	Technology	-0.1x	0.13	2.83	0.31	Net debt to EBITDA, net debt to ebitda: -1.53 on 2020-12-31 to -0.06 on 2025-12-31, up 96%.	Source n/a
46	KSC:003550LG Corp.	KSC	Consumer Cyclical	-0.7x	0.03	2.44	0.84	Net debt to EBITDA, net debt to ebitda: -0.24 on 2019-12-31 to -0.72 on 2025-12-31, down 200%.	Source n/a
47	KSC:035250Kangwon Land, Inc.	KSC	Consumer Cyclical	-0.5x	0.01	4.03	0.82	Net debt to EBITDA, net debt to ebitda: 0.01 on 2019-12-31 to -0.46 on 2025-12-31, down 4700%.	Source n/a
48	KSC:000815Samsung Fire & Marine Insurance Co., Ltd.	KSC	Financial Services	-1.0x	0.02	0.08	0.22	n/a	Source n/a
49	KSC:000810Samsung Fire & Marine Insurance Co., Ltd.	KSC	Financial Services	-1.0x	0.02	0.08	0.22	n/a	Source n/a
50	KSC:085620Mirae Asset Life Insurance Co., Ltd.	KSC	Financial Services	-1.5x	0.25	0.04	0.07	n/a	Source n/a

This is the top of the list. The rest is a page away and no plan is needed for it.

Filed figures cite the filing they come from; figures marked Market data are quotes as of the date shown. Not a recommendation and not advice.

Past figures are not a forecast. Anything we modelled is labelled as ours. You can lose money on any security.