Samsung SDS (018260) Q4 2025 earnings summary

Executive summary

• Revenue for 4Q25 was 3,537 billion KRW, up 4.3% sequentially but down 2.9% year-over-year; annual revenue grew 0.7% to 13,930 billion KRW.

• Net income for 4Q25 was 188 billion KRW, down 6.6% sequentially and 4.3% year-over-year; full-year net income was 783 billion KRW, a slight decrease of 0.9% from 2024.

• Operating profit for 4Q25 was 226 billion KRW, down 2.7% sequentially but up 6.9% year-over-year; annual operating profit rose 5.0% to 957 billion KRW.

Financial highlights

• Gross margin for 4Q25 was 14.5%, a decrease of 0.2 percentage points sequentially but up 0.6 points year-over-year.

• Operating margin for 4Q25 was 6.4%, down 0.4 points sequentially but up 0.6 points year-over-year; annual operating margin improved to 6.9%.

• EBITDA for 2025 was 1,587 billion KRW, with an EBITDA margin of 11.4%.

• EPS for 2025 was 9,819 KRW; ROE was 7.9%.

Outlook and guidance

• Cloud and IT services are expected to continue growth, driven by public and financial sector demand and generative AI expansion.

• Logistics faces ongoing pressure from declining ocean freight rates but expects stable demand in warehousing and inland transport.