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2025Key Business Performance

Revenue

69,095

Operating profit (operating margin)

1,827 2.6%

Net profit (net profit margin)

504 0.7%

(Consolidated, Unit: KRW, billion)

Classifications 2021 2022 2023 2024 2025
Revenue 76,332 84,750 77,127 72,668 69,095
Gross profit 11,881 7,649 6,417 5,413 5,166
Operating profit 9,238 4,850 3,531 2,173 1,827
Net profit 7,196 3,560 1,846 948 504
EBITDA 12,806 8,544 7,376 6,158 5,986

2025Key Financial Highlights

Assets

105,192

Liabilities

42,815

Equity

62,378

(Consolidated, Unit: KRW, billion)

Current assets 46,622 47,650 46,212 44,030 43,848
Cash and cash equivalents 18,156 18,800 17,907 14,802 15,593
Trade receivables 10,062 9,770 11,015 10,822 11,198
Inventories 15,215 15,472 13,826 14,144 13,624
Non-current assets 44,850 50,757 54,733 59,373 61,709
Tangible assets 29,597 31,781 35,206 39,847 42,293
Intangible assets 4,166 4,839 4,715 4,775 5,494
Other financial assets 2,120 2,333 2,708 2,572 3,061
Total assets 91,472 98,407 100,945 103,404 105,192
Liabilities 36,667 40,149 41,281 41,954 42,815
Current liabilities 21,084 23,188 21,862 22,780 23,132
Non-current liabilities 15,583 16,961 19,420 19,174 19,683
※Long-term and short-term borrowings 21,741 24,306 25,970 25,997 28,492
Equity 54,805 58,257 59,664 61,450 62,378
Shares of entities with controlling stake 50,427 52,512 54,181 55,394 55,730
Net debt 3,585 5,506 8,063 11,195 12,900
Net debt to equity ratio 6.5% 9.5% 13.5% 18.2% 20.7%

Ratings

Rating History

Classifications Agency 2026 2025 2024 2023 2022 2021 2020
해외 S&P BBB+(Stable) A-(Negative) A-(Stable) A-(Stable) A-(Stable) BBB+(Positive) BBB+(Stable)
Moody's Baa1(Negative) Baa1(Stable) Baa1(Stable) Baa1(Stable) Baa1(Stable) Baa1(Stable) Baa1(Stable)

Definition of Domestic and International Credit Ratings

Credit ratings are classified into ten grades (AAA to D) according to the capacity to repay principal and interest.

Among these, AAA to BBB are investment-grade ratings, indicating a recognized capacity to repay principal and interest, while BB to C are speculative-grade ratings, considered significantly susceptible to changing conditions.

Korean Rating Scale

  • AAA Extremely strong capacity to repay principal and interest
  • AA Very strong capacity to repay principal and interest but slightly weaker than AAA-rated bonds
  • A Strong capacity to repay principal and interest, but somewhat susceptible to adverse economic conditions and change in circumstances
  • BBB Adequate capacity to repay principal and interest, but more susceptible to adverse economic conditions and change in circumstances
  • BB Inadequate capacity to repay principal or interest, and vulnerable to non-payment of interest during economic slump
  • B Inadequate capacity to repay principal and interest; speculative.
  • CCC Vulnerable to non-payment of principal or interest and highly speculative with high risk of default
  • CC Highly vulnerable
  • C Default imminent with no capacity to repay principal or interest
  • D In default

Global Rating Scale

S&P Moody's Definition
AAA Aaa Obligations are judged to be of the highest quality, with minimal risk
AA+, AA, AA- Aa1, Aa2, Aa3 Obligations are judged to be of high quality and are subject to very low credit risk
A+, A, A- A1, A2, A3 Obligations are considered upper-medium-grade and are subject to low credit risk
BBB+, BBB, BBB- Baa1, Baa2, Baa3 Obligations are subject to moderate credit risk. They are considered medium-grade and as such may possess speculative characteristics
BB+, BB, BB- Ba1, Ba2, Ba3 Obligations are judged to have speculative elements and are subject to substantial credit risk
B+, B, B- B1, B2, B3 Obligations are considered speculative and are subject to high credit risk
CCC or lower Caa or lower Obligations are judged to be of poor standing, very near default or in default

Green Bond

POSCO Holdings has established a Green Financing Framework and obtained a Second Party Opinion on this framework. The funds raised from the issuance of green bonds will be used for eco-friendly projects such as Clean Transportation, Renewable Energy, Circular Economy, Energy Efficiency, Pollution Prevention and Control, and Water and Wastewater Management.

Green Financing Framework Green Financing Framework Second Party Opinion

USD 700 million global green bonds in 2025

POSCO Holdings issued global green bonds in two tranches, with USD 400 million in 5-year bonds and USD 300 million in 10-year bonds in Apr. 2025. The funds raised through the green bond issuance will be used for the rechargeable battery material business. Following the issuance of USD 500 million sustainability bonds in Jul. 2019 as the first among global steel makers, POSCO Holdings issued convertible green bonds worth EUR 1.1 billion in Sep. 2021.

POSCO HOLDINGS Green Bond Allocation and Impact Report (Published in 2026)

  • POSCO HOLDINGS Green Bond Allocation and Impact Report

    Published in 2026

    POSCO HOLDINGS Green Bond Allocation and Impact Report

    English Report