JONBUR Research · Initiation
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KolmarBNH · 200130 · Biotech & Pharma
KolmarBNH: Share Price Down 46.6% Over a Year as Profits Slip Into a Net Loss
Why this report
Start of coverage: written when a reader opened this company and there was no report yet.
KolmarBNH closed at ₩7,800 on 2026-10-16, near its 52-week low of ₩7,450 and down 46.6% over one year. Trailing twelve-month operating profit is positive at ₩32.9B, but net income is slightly negative at -₩1.6B.
Written Oct 18, 2026 · Data as of Oct 16, 2026 · 0 views
This is not financial advice. The report does not recommend buying or selling anything.
Thesis
The data supports a picture of a company with stable revenue and a debt-free balance sheet, but with weak bottom-line profitability. Operating income has stayed positive (6.1% margin over the trailing twelve months to H1 2026), yet net income was negative in 2025 (-₩22.7B) and in the latest trailing period. The share price now trades at 0.6x book value, well below its own year-end history of 0.8x to 2.3x. The data does not explain why net income turned negative, so the cause cannot be judged here. Foreign ownership fell from 4.5% to 3.1% over 60 days, and 20-day flows show retail buying (₩3.9B) against foreign (-₩1.3B) and institutional (-₩2.6B) selling.
Business overview
KolmarBNH is listed on KOSDAQ in the Biotech & Pharma sector. It was founded on 2014-04-22 and listed on 2014-07-23. It has 28,775,558 listed shares and a market capitalization of about ₩224.4B. Revenue has been in a narrow range of ₩575B to ₩616B since 2021: ₩593.1B in 2021, ₩575.9B in 2022, ₩579.6B in 2023, ₩615.6B in 2024 and ₩574.9B in 2025. The trailing twelve-month figure to H1 2026 is ₩538.2B. Recent news headlines are not available in the data.
Every earlier JONBUR Research report and update note on KolmarBNH, with Pro.
Unlock with ProModel estimate of fair value
- Bear
- ₩16,261
- +108%
- Base
- ₩25,939
- +231%
- Bull
- ₩42,110
- +438%
Model estimate based on the assumptions shown. Not a price target and not a buy or sell signal.
Base case of the 5-year discounted cash flow model on the stock's Valuation tab (statements TTM to H1 2026; discount rate 7.5%). Bear and Bull move the main assumptions by fixed steps. See and change the assumptions
Filings and data used
- 5%+ holding reportSep 30, 2026
- Amended: Acquisition of shares in another companySep 2, 2026
- Disclosure on Large Business Group Status [Quarterly Disclosure (For Individual Company)]Aug 28, 2026
- [Attached Correction] Sustainability Report and Related Matters (Voluntary Disclosure)Aug 19, 2026
- Amended: Cash dividend decisionAug 14, 2026
- [Amended Filing] Closure of Shareholder Register for Cash and Stock Dividends (Record Date) DecisionAug 14, 2026
- Half-year report (Jun 2026)Aug 14, 2026
- Matters Concerning Payment Amounts by Payment Method and Payment Period, and Dispute Mediation BodiesAug 14, 2026
- Acquisition of shares in another companyAug 12, 2026
- Share cancellation decisionAug 12, 2026
- Cash dividend decisionAug 12, 2026
- Shareholder Register Closure for Cash/Stock Dividend (Record Date) DecisionAug 12, 2026
- Daily prices up to 2026-10-16
- Financial statements, trailing 12 months as of H1 2026
- Our fair value model, statements as of TTM to H1 2026
Report history
- Oct 28, 2026Update noteM&A / restructuringKolmarBNH to Absorb Wholly Owned Subsidiary HNG in No-Share-Issue Merger
- Oct 21, 2026Update noteModel fair value changeKolmarBNH: Model Fair Value Estimate Halves to ₩12,979 per Share
- Oct 18, 2026InitiationStart of coverage (reader request)KolmarBNH: Share Price Down 46.6% Over a Year as Profits Slip Into a Net Loss
Source: KRX statistical information