PKCPKC

PKC's trailing profits have recovered from 2024 but remain thin, the share price is down 19% over a year, and free cash flow is negative.

PKC is a Korean chemicals maker focused on alkali and chlorine products, with a smaller specialty gas and food additive business and a minor sports unit. On the latest trailing twelve months to H1 2026, revenue was about ₩283B... more precisely ₩283.2B, with a 6.0% operating margin and a 2.7% net margin. The share price closed at ₩4,905 on 2026-10-22, well below its 52-week high of ₩8,200.

What stands out

• Trailing revenue is ₩283.2B and operating income is ₩17.1B, against full-year 2025 revenue of ₩272.1B and net income of ₩10.1B.
• Net income in 2025 (₩10.1B) was far above 2024 (₩3.6B), but the TTM net income of ₩7.5B sits below 2025, so momentum has slowed in 2026.
• Trailing free cash flow is negative at about -₩109.4B, and borrowings of ₩306.9B against cash of ₩39.7B give liabilities of 177.8% of equity.
• The stock is at a 29.4 P/E and 1.0 P/B, with a 0.6% dividend yield; the 1-year return is -19.1%, while the 1-month return is +1.3%.
• Foreign ownership rose from 1.0% to 1.9% over 60 days, while retail investors were net sellers of about ₩944M over the last 20 days.

What to watch

• Next quarterly and half-year results, to see whether margins hold after the drop from 12.1% operating margin in 2022 to 6.0% now.
• Follow-up on the amended Major Matters Report on the acquisition of tangible assets (filed 2026-08-20), which the filing titles do not explain in detail.
• Free cash flow and debt levels, since trailing free cash flow is negative and borrowings are large relative to cash. The data does not include any analyst forecasts or fair value estimate.