Daelim Paper대림제지

Daelim Paper's profits have shrunk sharply since 2023, though the stock is up 42% over the past year and trades near book value.

Daelim Paper makes corrugated paperboard liner and medium paper from recycled waste paper, mainly for corrugated box makers, with plants in Osan and Paju. Revenue has been roughly flat at about ₩170B a year, but operating margin on a trailing basis is 2.4%, down from 15.6% in 2022. The filings show a recent run of trading halts, a stock split decision and a share buyback decision.

What stands out

• Trailing twelve-month operating income is about ₩4.2B on revenue of about ₩175.7B, versus ₩29.2B operating income on ₩187.4B revenue in 2022.
• Net income in the trailing period (₩6.0B) is above operating income, and the data does not explain the gap.
• The company reports no borrowings and about ₩22.5B in cash, with a liabilities-to-equity ratio of 16%.
• The shares trade at about 0.3 times book value and 14.9 times earnings, with a 4.9% dividend yield according to the data.
• The DCF fair value model gives a base value of ₩4,566 against a close of ₩2,050, with bear and bull values of ₩3,392 and ₩6,481; these are model outputs, not forecasts.
• Foreign ownership rose from 3.0% to 3.6% over about 60 days, while 20-day foreign flows were net negative.

What to watch

• The share buyback decision filed on 2026-10-15 and the stock split decision from August; the data does not give terms or timing.
• Trading halts filed in September and October; the data does not say why.
• Full-year 2026 results, since the data only covers trailing figures to H1 2026; no news headlines were available in the data.