Bookook Securities부국증권

Bookook Securities trades near its 52-week low after a steep one-year fall, while trailing profit has slimmed to a thin margin.

Bookook Securities is a small-to-mid-sized Korean brokerage with trading, investment banking, asset management and credit businesses. On trailing figures to H1 2026 it had revenue of ₩1.6T, operating income of ₩54B and net income of ₩52B, well below its 2025 operating income of ₩57B on higher revenue. The share price of ₩43,550 sits close to its 52-week low of ₩42,850 and is down 36% over one year.

What stands out

• Trailing operating margin is 3.4%, down from 5.9% for full-year 2025, while revenue is higher than in 2025.
• Leverage is high: liabilities are about 770% of equity and borrowings total ₩2.8T against cash of ₩328B.
• The data's fair value model gives a base value of ₩33,483, a bear value of ₩14,011 and a bull value of ₩58,880; these are model outputs, not forecasts.
• Valuation looks low on earnings and book value (P/E 8.7, P/B 0.5) and the dividend yield is 5.5%, but peers trade at similar or lower multiples.
• Recent filings are mostly 5%+ holding and insider shareholding reports; the data contains no news headlines.

What to watch

• Upcoming full-year 2026 results and whether margins recover from the trailing 3.4% level.
• Further 5%+ holding and insider shareholding filings, which show ownership changes.
• Foreign ownership (1%) and net foreign selling over the last 20 days, alongside the high borrowing load.