Samjin Pharmaceutical삼진제약

Samjin Pharmaceutical's trailing profits have eased from 2024 levels, while the shares trade well below their 52-week high.

Samjin Pharmaceutical is a Korean drugmaker selling over-the-counter and prescription medicines, with a trailing twelve-month revenue of about ₩311B and operating income of about ₩25B as of the first half of 2026. Revenue has been roughly flat over 2025 and the first half, and operating margin has fallen from 13.6% in 2021 and 10.3% in 2024 to 7.9% on a trailing basis. At ₩19,100, the shares are about 26% below the 52-week high of ₩25,900 and about 15% above the low of ₩16,580.

What stands out

• Revenue was ₩309B in 2025, up only 0.3%, after 5.6% growth in 2024, so top-line growth has slowed.
• Operating margin has compressed from 13.6% in 2021 to 8.7% in 2025 and 7.9% on a trailing basis.
• Net income of ₩39B in 2024 was well above operating income that year, while 2025 net income of ₩24B was close to operating income, so the 2024 result looks less representative of the current run rate.
• Borrowings of ₩129B against cash of ₩12.8B, with liabilities at 59.6% of equity, indicate a meaningful debt load.
• The filings list show mainly insider and 5%+ shareholding reports plus a half-year report for June 2026; no news headlines were provided.

What to watch

• The next results release and whether margins recover from the trailing 7.9% operating level.
• Movements in the largest shareholder's holdings and further insider or 5%+ holding reports, which appeared frequently in August and September 2026.
• The internal DCF fair value estimate of ₩37,732 in the base case versus the current price is a model output, not a forecast, and its assumptions may change; foreign ownership and investor flow data are not available in the pack.