SKCSKC

SKC remains loss-making on a trailing basis, with its share price down sharply over the past year and heavy borrowings on the balance sheet.

SKC, a Korean chemicals company best known for battery copper foil, reported trailing twelve-month revenue of about ₩2.08T but an operating loss of ₩204B and a net loss of ₩805B through H1 2026. Borrowings of ₩4.18T are large relative to cash of ₩1.23T, and the shares closed at ₩79,100 on 26 October 2026, well below their 52-week high of ₩184,400. The data does not include forecasts for the next period.

What stands out

• Revenue has grown from ₩1.57T in 2023 to ₩2.08T on a trailing basis, but operating margins have been negative every year since 2023, reaching -9.8% trailing and -16.6% in 2025.
• Trailing free cash flow is about -₩960B, and liabilities are 156.7% of equity, so the company is relying on debt and cash reserves.
• The shares are down 29.2% over one year and 11.5% over one month; the price is about 2.0x book value and the dividend yield is 0%.
• Recent filings show a run of acquisitions of shares in other companies, debt guarantees for third parties, and a rights offering decision, which the data does not explain in detail.
• Foreign ownership eased slightly from 10.8% to 10.5% over 60 days, while institutions were net buyers over the last 20 days and foreign and retail investors were net sellers.

What to watch

• The advance notice of earnings results filed on 20 October 2026 and the full results to come, since the data contains no figures for the coming period.
• Progress of the rights offering and the share acquisitions and debt guarantees named in recent filings, including their funding and effect on borrowings.
• Whether copper foil and chemical margins recover from the current losses, as the data does not state any outlook for them.