Amorepacific Holdings아모레퍼시픽홀딩스

Amorepacific Holdings is profitable but thin-margin, and its shares sit near the lower half of their 52-week range.

Amorepacific Holdings is a holding company whose main subsidiary sells cosmetics and personal care brands in Korea and abroad. On trailing twelve-month figures to H1 2026 it had revenue of ₩4.8T, operating income of ₩420B (8.7% margin) and net income of ₩138B, with the share price at ₩23,950 on 2026-10-26.

What stands out

• Revenue grew 8.5% in 2025 to ₩4.6T, after falling in 2022 and 2023, but operating margin in 2025 (8.0%) was still below 2021's 6.7%-to-8.0% range peak of recent years is not shown in the data; the data shows 2021 at 6.7%.
• Net income in 2024 (₩252B) was higher than operating income (₩249B), a gap the data does not explain.
• Valuation looks low on the numbers given: P/E 13.2, P/B 0.5, dividend yield 1.7%, but ROE is only 4%.
• The balance sheet shows cash of ₩614B against borrowings of ₩231B, and liabilities-to-equity of 21%.
• Shares are down 9.1% over one month, 3.8% over three months and 5% over one year, trading between ₩19,950 and ₩35,950 over 52 weeks. Over the last 20 days foreign investors were net buyers (₩6.3B) while institutions and retail were net sellers. Foreign ownership rose to 14.9% from 13.9% 60 days earlier.

What to watch

• An advance notice of earnings results was filed on 2026-10-22, so the full results are due soon; the data does not include the figures.
• The discounted cash flow model gives a base value of ₩21,851, below the current price, with a bull case of ₩60,210; the bear case is shown as ₩0, which the data does not explain, so treat the range with caution.
• Frequent filings on changes in largest-shareholder holdings and insider holdings reports in September and October, plus a 5%+ holding report on 2026-10-20; the data does not say what these changes mean for the company.