LS ELECTRIC · 010120

LS ELECTRIC: Cash Conversion After Earnings Growth

Analysis date

Published

Key Takeaway

Neutral as of 2026-10-07. Increased switchgear revenue and improved consolidated profitability have been confirmed, but switchgear’s contribution to earnings has not been disclosed. The current share price is approximately 80 times trailing 12-month continuing-operations EPS, so further growth and cash conversion are required.

What this report covers

  • Earnings contribution from switchgear growth remains to be confirmed
  • Cash conversion after working-capital needs and capacity expansion is key
  • Assess follow-on contracts by their delivery periods

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