Sinsin Pharmaceutical신신제약

Sinsin Pharmaceutical's profits have grown strongly over two years, yet its shares have fallen about 24% in the past year.

Sinsin is a small Korean maker of over-the-counter patch and plaster products sold mainly through pharmacies and wholesalers. Trailing results to H1 2026 show revenue of about ₩123B and operating income of about ₩14.5B, both well above 2024 levels. The share price is ₩4,080, near the lower part of its 52-week range of ₩3,900 to ₩6,990.

What stands out

• Trailing twelve-month revenue is ₩123B with a net margin of 10.9%, compared with a net margin of about 4.3% in 2024.
• 2025 revenue grew 6.9% to ₩113.8B, and operating margin rose from 6.5% in 2024 to 9.5%.
• Borrowings of ₩39.8B are large relative to cash of ₩3.0B, and liabilities are 79.3% of equity.
• Trailing free cash flow is ₩11.8B, which is below trailing net income of ₩13.5B.
• Foreign ownership fell from 4.9% to 3.6% over the past 60 days, while the recent filings list shows routine items plus two management-related disclosures in May 2026, and the news section has no headlines.

What to watch

• The next quarterly and annual filings, to see whether margins and free cash flow hold up against the higher debt load.
• The details of the May 2026 major management matter, which the data does not explain.
• The internal fair value model gives a base of ₩7,057 and a bear case of ₩2,182; these are model outputs, not forecasts, and the data contains no analyst price targets.