SM Entertainment FY 2025 Annual Report
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Filed: March 17, 2026· period ending December 31, 2025DART

SM Entertainment annual report for FY 2025, filed with DART (Korea Financial Supervisory Service) on March 17, 2026. This page provides AI-powered English analysis including business overview, management discussion & analysis (MD&A), risk factors, and KIFRS consolidated financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE).

SM Entertainment FY 2025 Annual Report Analysis

Business Overview

• Total consolidated revenue KRW 1.175T in FY2025, up ~18.7% YoY from KRW 989.7B, with entertainment segment at 93.7% of mix
• Operating profit nearly doubled to KRW 183B from KRW 87.3B in FY2024, driven by entertainment segment's KRW 171.6B contribution

Management Discussion & Analysis

• FY2025 consolidated revenue KRW 1,174.9B (+18.7% YoY), operating profit KRW 183.0B (+109.6% YoY) — record highs for both
• Management cites new artist rapid growth (RIIZE million-seller debut album, NCT WISH dual million-seller mini albums, Hearts2Hearts #1 debut), expanded global concert tours, MD/licensing growth, and DearU (디어유) consolidation as key drivers

Risk Factors

• USD net FX exposure KRW ~131B (assets KRW 138B vs liabilities KRW 6.9B); 10% KRW depreciation boosts pre-tax profit KRW 13.1B, up sharply from KRW 5.3B prior year
• CNY exposure surge: net CNY assets KRW ~28.6B vs KRW ~7.1B prior year; 10% move = KRW 2.9B pre-tax impact, 4x prior year — reflects rising China revenue concentration

SM Entertainment FY 2025 Key Financial Metrics
DART

Total Assets

KRW 2.01T

▲ +41.5% YoY

Operating Cash Flow

KRW 194.9B

▲ +43.6% YoY

CapEx

KRW 8.9B

▼ -63.4% YoY

Source: KIFRS consolidated financial data from SM Entertainment annual report on DART. All figures in KRW.

Source: DART (Korea Financial Supervisory Service) · AI summaries generated from the original Korean filing (English output) · Beta: coverage is expanding