Samsung Biologics Reclaims Third in Market Cap... Market Cap Competition Heats Up Early in the Year

Samsung Biologics Reclaims Third Place
Hanwha Aerospace Takes Back Seventh Spot
Top Market Cap Rankings Continue to Reshuffle Early in the Year

Since the beginning of this year, the stock market has shown strength centered on large-cap stocks, leading to fierce competition for market capitalization rankings. Samsung Biologics has reclaimed the third spot in market capitalization for the first time in a while, surpassing LG Energy Solution. With the two companies' fourth-quarter results from last year and this year's business outlook diverging, attention is focused on whether Samsung Biologics can solidify its position at number three. In addition, Hanwha Aerospace, which has also shown strong performance this year, has overtaken SK Square to reclaim seventh place. Given that Hanwha Aerospace has risen by nearly 30% so far this year, there is a possibility for further gains, suggesting that reshuffling among the top market capitalization stocks may continue for the time being.

According to the Korea Exchange on January 12, as of January 9, Samsung Biologics ranked third in market capitalization at 86.9344 trillion won, while LG Energy Solution was fourth at 84.942 trillion won. Samsung Biologics reclaimed third place on January 8, and although LG Energy Solution briefly regained the spot on the morning of January 9, it lost the position again due to the announcement of disappointing fourth-quarter results for last year.

Samsung Biologics and LG Energy Solution engaged in fierce competition for third place throughout last year, but LG Energy Solution secured the spot after July. Samsung Biologics fell behind in the market capitalization race as it underwent a spin-off.

However, LG Energy Solution's stock price declined last month following news of contract cancellations and disappointing fourth-quarter results, as well as an unfavorable business outlook for this year. These factors narrowed the market capitalization gap between the two companies, ultimately resulting in LG Energy Solution relinquishing third place. Over the past month, LG Energy Solution's stock price fell by 19.60%, while Samsung Biologics rose by 15.29% during the same period.

Last month, LG Energy Solution canceled battery supply contracts worth approximately 9.6 trillion won with Ford in the United States and 3.9217 trillion won with FBPS. In the fourth quarter of last year, LG Energy Solution recorded consolidated sales of 6.1415 trillion won and an operating loss of 122 billion won. Compared to the same period the previous year, sales decreased by 4.8%, and losses continued. The outlook for this year is also not bright. Anna Lee, a researcher at Yuanta Securities, stated, "With sales for electric vehicles (EVs) expected to decline this year, performance is likely to be supported mainly by energy storage systems (ESS) and small batteries, so growth in 2026 compared to 2025 will be limited."

In contrast, Samsung Biologics is expected to post solid fourth-quarter results for last year. Jae-won Jung, a researcher at iM Securities, said, "Samsung Biologics is expected to record fourth-quarter sales of 1.2569 trillion won, up 32.3% year-on-year, and operating profit of 557.4 billion won, up 77.1%. The company is likely to comfortably meet the high market expectations raised by its strong third-quarter performance," adding, "Annual sales and operating profit in 2026 are projected to reach 5.1151 trillion won and 2.3206 trillion won, respectively, up 13.0% and 10.6% from the previous year, maintaining a solid growth trend this year as well."

Along with this, the seventh and eighth spots have also changed hands. Hanwha Aerospace has reclaimed seventh place as its stock price surged significantly this year. On January 9, Hanwha Aerospace rose by more than 11%. The strong performance of defense stocks this year has allowed Hanwha Aerospace to regain its status as a blue-chip stock and reclaim seventh place. Hanwha Aerospace has risen by 29.01% so far this year. If its upward trend continues, it may also reclaim sixth place. The market capitalization gap with sixth-ranked HD Hyundai Heavy Industries is 1.3234 trillion won.