# Who does Doosan Enerbility pay? Who are its key suppliers?
Canonical: https://valuechain.wiki/doosan-enerbility · Facet: suppliers · Updated: 2026-07-12T03:46:20.010477+00:00 · Source: ValueChain.wiki (cited money-flow graph)

**Citable summary**: Doosan Enerbility discloses no named confirmed suppliers/cost counterparties; 2 relationships are tracked as undisclosed/aggregate. Per the valuechain.wiki graph: 2 cost edges, backed by 1 dated sources, 1 of them primary filings (as of 2026-07-12).

### 두산밥캣 (연결 자회사·지배구조) (high)  → /doosan-bobcat.md
- note: An axis you must separate to read the consolidated numbers: Doosan Bobcat is a consolidated subsidiary that makes Doosan Enerbility's FY2025 consolidated revenue KRW 17.06tn, but Bobcat's (construction-equipment) downturn dragged consolidated operating profit to -25% (KRW 762.7bn). The core Enerbility business is in an up-cycle (orders +106%, KRW 14.7tn), so the market reads the nuclear/gas-turbine cycle on a 'managed-consolidated' (ex-Bobcat) basis. A 2024 plan to separate Bobcat was withdrawn after shareholder pushback.
- [mentions] Mirae Asset Securities (KO, research, published 2026-05-01) https://securities.miraeasset.com/bbs/download/2141595.pdf?attachmentId=2141595: "Mirae Asset Buy, target KRW 105,000 (power-equipment supercycle initiation)."
- [confirms] Straight News (KO, news, published 2026-04-15) https://www.straightnews.co.kr/news/articleView.html?idxno=300820: "Incl. Bobcat, consolidated revenue KRW 17.06tn, OP KRW 762.7bn (-25%); Enerbility orders KRW 14.7tn, backlog 23tn+."
- [confirms] FSS DART / Doosan Enerbility (KO, filing, published 2026-03-20) https://dart.fss.or.kr/dsaf001/main.do?rcpNo=20260320001246: "Doosan Bobcat and Doosan Fuel Cell are consolidated subsidiaries."

### 특수강·대형 단조·기자재 (원자재) (mid)
- note: The material axis that governs reactor-vessel and turbine-rotor properties: Doosan has in-house large-forging capacity at Changwon, but the price and quality of the special-steel ingots, nickel alloys and cast/forged inputs feeding it drive nuclear/turbine cost and delivery. Large-forging capacity is itself the entry barrier, so this material-process integration is Doosan's moat.
- [confirms] FSS DART / Doosan Enerbility (KO, filing, published 2026-03-20) https://dart.fss.or.kr/dsaf001/main.do?rcpNo=20260320001246: "Materials and subcontracting for nuclear/power equipment are core to cost."

### EPC 협력사·기자재 외주 (공급망) (mid)
- note: For large EPC and combined-cycle projects, subcontracting is a major cost axis, and project cost ratios and execution risk turn on it. In a surging-order phase, subcontractor capacity and material procurement become the bottleneck to realizing margin.
- [confirms] FSS DART / Doosan Enerbility (KO, filing, published 2026-03-20) https://dart.fss.or.kr/dsaf001/main.do?rcpNo=20260320001246: "EPC subcontracting and equipment procurement are a large share of the cost structure."

Reverse side: https://valuechain.wiki/doosan-enerbility/customers.md · Ripple: https://valuechain.wiki/doosan-enerbility/ripple.md

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Full node: https://valuechain.wiki/doosan-enerbility.md · JSON: https://valuechain.wiki/doosan-enerbility.json