Mirae미래산업

Mirae's trailing profits have risen sharply, but the share price is still about 47% below its 52-week high.

Mirae makes semiconductor test handlers and automated insertion equipment, with subsidiaries in Korea, China and Vietnam. Over the trailing twelve months to H1 2026 it reported revenue of ₩90.8B, operating income of ₩23.1B and net income of ₩25.3B, after a loss-making 2023. At the ₩7,100 close, the market value is about ₩197B, with a P/E of 7.8 and a P/B of 1.3.

What stands out

• Trailing revenue of ₩90.8B is well above the ₩50.8B reported for full-year 2025, which was up 87.8% on the prior year.
• Net income (₩25.3B) is higher than operating income (₩23.1B), but the data does not explain the gap; filings include a sale of shares in another company.
• The DCF base value is ₩5,841 (bear ₩4,000, bull ₩8,770), so the ₩7,100 close sits above the base case and below the bull case.
• Cash of ₩11.4B is below borrowings of ₩18.9B, and liabilities are 36.3% of equity; free cash flow over the period was ₩6.4B.
• Foreign ownership fell from 11.3% to 9.5% over about 60 days, and retail investors were net sellers of about ₩2.4B over the last 20 days.

What to watch

• Several amended major sales or supply contract filings appeared in September and October 2026; the data does not give contract values, so their significance is unclear.
• The data gives no date for the next earnings release, so check the filings for upcoming results and whether the 2026 profit level holds.
• Most recent headlines are about Korea's broader future-industries policy rather than Mirae itself, so they say little about company-specific prospects.