Cosmochemicalco코스모화학

Cosmochemicalco remains loss-making on a trailing basis, with its share price down about half over the past year.

The company makes cobalt sulfate for battery materials and titanium dioxide pigment, with production in Ulsan and Onsan. Trailing twelve-month revenue to H1 2026 is about ₩715B, but operating income is only about ₩1.4B and net income is negative at roughly -₩19B. The share price closed at ₩9,580 on 2026-10-23, against a 52-week range of ₩7,160 to ₩21,650.

What stands out

• Revenue fell 11.4% in 2025 to about ₩664B after a 6.2% decline in 2024, and the company has posted net losses in 2023, 2024 and 2025.
• Trailing debt is high: borrowings of about ₩484B against cash of about ₩131B, with liabilities at 107.3% of equity.
• Trailing free cash flow is negative at about -₩5.7B, and the company pays no dividend.
• Filings show a preliminary earnings release on 2026-07-30 and an amended half-year report in September, and several 5%+ holding reports since June.
• Foreign ownership edged up to 4.4% from 4.0% over 60 days, while foreign investors were net sellers over the last 20 days.

What to watch

• The next full-year and quarterly results, to see whether the modest operating profit in the trailing period holds.
• Further 5%+ holding reports and any change in the largest shareholder's stake, as several have been filed recently.
• Debt levels and cash generation, given the gap between borrowings and cash and the negative free cash flow. No news headlines were in the data, so the reasons for the share price move are not explained here.