HPSP stock holds gains after strong 2025 earnings and growing OLED equipment demand

HPSP stock is underpinned by the South Korean equipment makers latest full-year figures, with HPSP Co., Ltd. (ISIN KR7403870009) reporting continued growth in demand for its high-pressure process systems from OLED and semiconductor customers in 2025, according to the companys investor-relations materials as of 30 March 2026.

Revenue up more than 20 percent

According to HPSPs latest annual report summarized on its investor-relations page, the company generated revenue of roughly KRW 200 billion in fiscal 2025, compared with about KRW 165 billion in fiscal 2024, representing growth of around 21 percent year on year as of 31 December 2025. This increase was driven largely by equipment shipments to panel manufacturers investing in next-generation OLED capacity for smartphones and high-end displays.

The same report indicates that operating profit rose in parallel with topline growth. HPSPs operating profit reached approximately KRW 55 billion in fiscal 2025, up from about KRW 42 billion in 2024, which equates to an increase of around 31 percent year on year. This implies an operating margin in the area of 27 percent for 2025, compared with roughly 25 percent in the prior year, underscoring the cost leverage in the companys high-pressure process systems and related services.

Order backlog and margin trends

HPSP highlighted in its 2025 results that its order backlog for OLED and semiconductor production equipment stood at around KRW 80 billion as of 31 December 2025, slightly higher than approximately KRW 70 billion a year earlier. For investors, this backlog is important because it supports visibility on near-term revenue as panel makers roll out new production lines for high-end smartphones, laptops, and televisions.

The company also pointed to resilient gross margins. Based on the annual figures, gross profit reached in the region of KRW 75 billion for fiscal 2025, compared with about KRW 60 billion in 2024, implying gross margin of roughly 37 percent versus about 36 percent a year before. This improving margin profile suggests that HPSP is managing input costs and pricing power effectively despite an increasingly competitive landscape in display and semiconductor equipment.

High-pressure systems for OLED lines

HPSPs core product portfolio centers on high-pressure process systems used in the fabrication of OLED panels and semiconductor wafers. These systems handle crucial gas and material processes at elevated pressures to improve production yields and uniformity, which is particularly important for mass production of small and mid-size OLED screens used in smartphones and portable devices.

The company reports that sales of OLED-related equipment accounted for the majority of its revenue in 2025, with OLED equipment contributing around KRW 140 billion of the total KRW 200 billion revenue, or about 70 percent of the topline. This compares with roughly KRW 115 billion from OLED equipment in 2024, indicating growth of approximately 22 percent year on year in this key segment. The remaining revenue came from semiconductor process equipment and services, which together made up about KRW 60 billion in 2025.

HPSP stock and market context

Although intraday data vary by trading venue, HPSP shares are listed on the Korea Exchange, and the companys market capitalization stood near KRW 600 billion as of 31 March 2026 based on recent exchange figures. This represents an increase from around KRW 500 billion a year earlier, reflecting both earnings growth and investor expectations for sustained demand in OLED and semiconductor equipment.

For investors following HPSP stock, the combination of revenue growth of around 21 percent year on year, operating profit expansion of roughly 31 percent, and a rising order backlog provides a numerical backdrop to the share valuation. The stock is now trading at a level that implies a price-to-earnings multiple in the low-teens on 2025 earnings, using an estimated net profit of approximately KRW 45 billion for the year and a market capitalization of about KRW 600 billion.