KOSDAQ · wafer-fab equipment · ALD deposition
Eugene Technology
A front-end ALD (atomic-layer deposition) and LPCVD equipment specialist, holding one axis of a domestic ALD-equipment duopoly with Wonik IPS. It is a development partner for Samsung's next-gen foundry process and also supplies SK hynix and Micron — its sales organization is even split into SK hynix and Samsung divisions, reflecting heavy dependence on the two. It has overseas coverage via US subsidiary Eugenus, and as scaling adds ALD steps, equipment demand grows.
084370.KQ Updated Jul 12, 2026 4 AI consumers· 3 recurring
Per the valuechain.wiki graph, Eugene Technology is directly linked to 3 companies (0 supply, 3 revenue relationships) and reaches 10 companies within two hops; the links are backed by 5 dated sources, 2 of them primary filings (as of 2026-07-12).
Financials & Segments
- Total revenue · FY2025 consolidated revenue KRW 258.9bn, operating income KRW 52.7bn (Q4 record KRW 99.9bn). Front-end deposition tools (ALD, LPCVD, CVD)
- Segments · ALD deposition equipment
Revenue from
- Samsung Electronics High confidence
Supplies ALD and front-end tools to Samsung — a development partner for its next-gen foundry process and a key customer, with a dedicated Samsung sales division.Mentions KO Korea Investment & Securities Published Mar 27, 2026: Korea Investment lifts Eugene Technology target to KRW 72,000 on ALD ramp to Samsung; 2026 ALD sales seen KRW 100bn - SK hynix High confidence
Supplies ALD and front-end tools to SK hynix — tied to HBM/DRAM capacity investment, one of the two anchor customers with its own dedicated division. - Micron Technology High confidence
Named alongside SK hynix and Samsung in the annual report as a front-end equipment customer (LPCVD, plasma treatment); overseas coverage via US subsidiary Eugenus.
Pays to
- raw materials (undisclosed) Low confidence
Raw materials for ALD tool manufacturing — precision-part sourcing drives lead times and cost (suppliers undisclosed). - equipment & R&D (undisclosed) Low confidence
Production equipment and R&D — developing tools for new nodes underpins the duopoly position (undisclosed).
Investments
- Eugenus Inc. (US subsidiary, ALD R&D) Medium confidence
An overseas R&D axis for next-gen deposition — Eugene Technology consolidates US subsidiary Eugenus Inc., which develops leading-edge ALD/CVD processes. Running Korea HQ and US R&D in parallel is a strategic investment building capability for Samsung/SK hynix leading-edge DRAM and HBM.
Value-chain ripple (2 tiers)
Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.
| Company | Chain | '21 | '22 | '23 | '24 | '25 | YTD |
|---|---|---|---|---|---|---|---|
| Marvell | lead2 | +84.6 | -57.5 | +63.7 | +83.8 | -22.8 | +177.8 |
| AMD | lead2 | +56.9 | -55 | +127.6 | -18.1 | +77.3 | +160.5 |
| Everpure (formerly Pure Storage) | lead2 | +44 | -17.8 | +33.3 | +72.3 | +9.1 | +18.4 |
| Broadcom | lead2 | +56.5 | -13.3 | +104.2 | +110.5 | +50.6 | +16 |
| NVIDIA | lead2 | +125.5 | -50.3 | +239 | +171.2 | +38.9 | +13.3 |
| Qualcomm | lead2 | +22.3 | -38.6 | +35.1 | +8.3 | +13.8 | +11.7 |
| Phison Electronics | lead2 | +26.8 | -10.7 | +45.1 | -6.7 | +418.3 | -6 |
| Micron Technology | lead1 | +24.2 | -45.9 | +71.9 | -1 | +240.2 | +243.3 |
| SK hynix | lead1 | -0.4 | -25.6 | +53.9 | +48.6 | +361.1 | +140.3 |
| Samsung Electronics | lead1 | -9 | -14.2 | +20.9 | -26.4 | +212.9 | +77.9 |
| Eugene Technology | node | +28.1 | -45.1 | +64.1 | -12.6 | +202.5 | +49.5 |
YTD as of 2026-07-10 · source: Yahoo Finance
Eugene Technology's thesis is leverage to the rising ALD step-count that scaling creates. As one axis of a domestic ALD-equipment duopoly with Wonik IPS, its tool demand grows structurally as device scaling and 3D stacking add atomic-layer-deposition steps per wafer. Results track Samsung and SK hynix capacity investment directly — dependence is high enough that its sales team is split into divisions for the two, which is both the growth driver and the concentration risk. Its status as a development partner for Samsung's next-gen foundry process, plus Micron and US subsidiary Eugenus, provides diversification. Re-rating triggers are the Samsung/SK HBM and foundry capacity cycle, wider ALD adoption in new nodes, and the pace of customer/geographic diversification.
Analysis generated from returns as of 2026-07-10Analyst ratings
Consensus: Buy 2 · Hold 0 · Sell 0 · Avg. target ₩155,000 · Price ₩165,700 (07-10) · Upside -6%
| Broker | Rating | Target | Published | |
|---|---|---|---|---|
| Korea Investment & Securities | Buy | ₩137,000 | May 18, 2026 | Report ↗ |
| DB Financial Investment | Buy | ₩173,000 | May 14, 2026 | Report ↗ |
Customer capex is starting to show in earnings and Samsung's mix rises this year; raised the target from KRW 108,000 to 137,000, the most conservative among peers.
Analyses covering this node
- Target upside is a residual, not a signal: consensus writes down the chain after the fact Jul 10, 2026