BYCBYC

BYC shows steady profitability and a low valuation, but revenue has been flat to slightly down for several years.

BYC is a Korean knitwear and undergarment maker with a trailing twelve-month revenue of about ₩168B... more precisely ₩168.1B? The filed TTM revenue to H1 2026 is ₩168.1B, operating income ₩28.2B and net income ₩22.7B, with a 16.8% operating margin. The shares closed at ₩37,500 on 2026-10-22, well below the 52-week high of ₩71,500, and the company carries net cash on the filed figures.

What stands out

• Revenue fell 1.2% in 2025 and 1.9% in 2024, and TTM revenue of ₩168.1B is roughly in line with 2022's ₩169.7B, so top-line growth has been limited.
• Operating margin has held in a 14% to 17% range across 2021 to H1 2026, and TTM net margin is 13.5%.
• Filed cash of ₩86.0B exceeds borrowings of ₩95.1B only partly; borrowings are still higher than cash, with liabilities at 38% of equity.
• TTM return on equity is 4.1%, which is low, and the stock trades at 10.3x earnings and 0.4x book, with a 1.1% dividend yield.
• The 3-month share price return is 14.2%, but the 1-year return is 3.2%; the share price is about 48% below its 52-week high.
• Recent filings are mostly shareholder-holding reports and a buyback trust contract signed on 2026-08-05, and a DCF-based fair value model gives a base of ₩33,829, below the current price.

What to watch

• Next half-year or annual results, to see whether revenue growth returns and margins hold near the TTM levels.
• Further largest-shareholder and insider holding filings, and the progress of the buyback trust contract.
• Recent news is limited to a product launch on 2026-10-13; the data does not include analyst views or forecasts, and the fair value estimates are model outputs, not targets.