Poongsan Holdings풍산홀딩스

Poongsan Holdings trades at a low multiple after a weak year, with trailing profit still solid but revenue and share price both down.

Poongsan Holdings is a Korean holding company with metal materials, defense ammunition and industrial businesses run through subsidiaries. Trailing twelve-month revenue is about ₩495B with net income near ₩104B as of H1 2026, but 2025 revenue fell 3.8% and the share price is down 18.1% over one year. The shares trade at about 4.7 times earnings and 0.4 times book, with a 4.8% dividend yield shown in the data.

What stands out

• Trailing net income of ₩104B is higher than trailing operating income of ₩97B, so non-operating items helped profit; the data does not break this down.
• Net margin is 21% and operating margin 19.5% on a trailing basis, but 2025 operating margin was lower at 15.4%.
• Borrowings of ₩102B exceed cash of ₩45B, while liabilities are 14.4% of equity, a fairly low leverage level.
• The data's NAV-based fair value model gives a base of ₩26,370 against the ₩33,550 close, with a bear case of ₩17,580 and a bull case of ₩36,917; these are model outputs, not forecasts.
• Recent filings show treasury stock acquisition results and changes in largest shareholder holdings, and the share price is near the middle of its 52-week range of ₩29,450 to ₩60,900.

What to watch

• Upcoming full-year 2026 results and any change to the dividend, given the dividend yield shown in the data.
• Further filings on largest shareholder or insider holdings, since several were filed in September and October 2026.
• Whether revenue and operating margin recover from the 2025 decline; the data names no specific risk events beyond these.