Samsung Electronics (005930) estimated its third-quarter operating profit at 107.4 trillion won (about $80 billion) on Thursday, up 782.5% from a year earlier. It’s the first time a South Korean company has cleared 100 trillion won in a single quarter, and the figure came in 1.6% above the Yonhap Infomax consensus of about 105.75 trillion won.
Revenue rose 126.6% to 195 trillion won, putting the operating margin at a record 55.1%. These are preliminary figures with no segment breakdown. Full results arrive October 29.
Where Samsung’s $80 Billion Came From
Samsung didn’t split out its divisions, but Korean press estimates put the chip unit’s profit at or slightly above the company total. Memory did the work: AI data centers pulled in HBM and server DRAM, while phones, TVs and appliances likely lost money on higher component costs.
How Fast Samsung’s Profit Has Grown
On TIKR’s figures, Samsung’s quarterly operating income went from $3.46 billion in Q2 2025 to $57.86 billion in Q2 2026. Q3’s roughly $80 billion is about nine times the $8.67 billion from a year earlier.
The pace is cooling, though. In won, operating profit rose about 54% from Q1 to Q2, then about 21% from Q2 to Q3. (Dollar figures flatter Q3, since the won strengthened 14.3% against the dollar during the quarter.)
Why Samsung Trades at 4x Earnings
Here’s the disconnect. Samsung’s NTM P/E has fallen to 4.35x, from about 15x a year ago and well below its 11.79x average since late 2023.
Investors are paying less for each won of profit just as profits soar. That’s a bet that memory is near its peak. TrendForce sees DRAM contract prices rising 10% to 15% in Q4, down from about 60% in Q2, and Samsung shares were about 25% below their June record as of October 7.
What to Watch for Samsung Stock
My view: at roughly 4x forward earnings, the stock already prices in a sharp slowdown, so the October 29 segment numbers matter more than today’s headline. If memory margins hold into 2027, the multiple has room to recover.
Peers feel it too. SK Hynix (000660) is losing HBM share to Samsung, with J.P. Morgan estimating its share falls to 46% this year from 60%. Micron (MU) guided to a slightly lower gross margin this quarter and now faces a strike authorization in Taiwan.
So what is Samsung Electronics stock actually worth?
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any of the stocks mentioned. Thank you for reading, and happy investing!
