Shinhung신흥

Shinhung's profits have shrunk from their 2021 peak, and recent trailing results show thinner margins and negative free cash flow.

Shinhung is a Korean maker and seller of dental devices and supplies, with dental consumables as its largest revenue source. Trailing results to H1 2026 show revenue of about ₩105.9B and operating income of ₩9.1B, below the 2021 peak, and free cash flow was negative at about -₩5.6B. The shares closed at ₩14,350 on 26 October 2026, near the lower half of their 52-week range.

What stands out

• Revenue has been broadly flat to slightly lower since 2021, at about ₩102.6B for 2025 and ₩105.9B on a trailing basis to H1 2026.
• Net income fell from ₩13.4B in 2021 to ₩2.8B in 2025, though trailing net income to H1 2026 recovered to about ₩5.4B.
• Borrowings of about ₩16.7B are well above cash of about ₩1.6B, and liabilities are 34% of equity.
• The filings list is dominated by largest-shareholder holding changes, plus a share buyback decision, a share cancellation decision and treasury stock results in September 2026.
• The data shows a DCF fair value model with a base of ₩9,713, below the current price, but the model's assumptions are not detailed and this is not a forecast.

What to watch

• Upcoming full-year and interim results, to see whether the trailing margin recovery holds and whether free cash flow turns positive.
• Further largest-shareholder filings and the progress of the share buyback and cancellation.
• The data contains no news headlines, so there is no recent press coverage to weigh against the filings.