Bookook Steel부국철강

Bookook Steel is near break-even on a trailing basis, with revenue slipping and profits thinning, though the share price has rebounded well off its 52-week low.

Bookook Steel, a KOSPI-listed steel processor, reported trailing revenue of ₩192B to H1 2026 with an operating income of about ₩0.4B and net income of about ₩2.2B. Revenue and profitability have declined since 2021, and free cash flow was negative at about -₩3.2B on the trailing figures. The share price is ₩2,035, up 2.8% over three months but down 11.1% over one year and well below its 52-week high of ₩4,690.

What stands out

• Revenue fell from about ₩210B in 2022 to about ₩180B in 2025, with operating margin dropping from 2.8% to 0.1% over the same period.
• Net income of ₩2.2B on trailing operating income of ₩0.4B suggests profit is not coming mainly from core operations; the filings given do not explain the gap.
• Cash of about ₩11.8B is reported with borrowings shown as not available, and liabilities-to-equity is 21%.
• The fair value model gives a base value of ₩2,435, a bear of ₩1,041 and a bull of ₩5,288; these are model outputs, not forecasts or ratings.
• Dividend yield is 3.9%, and foreign ownership fell from 5.8% to 4% over about 60 days, while retail investors were net sellers over the last 20 days.

What to watch

• The amended half-year report (Oct 2026) and the earlier attachment, which may clarify the figures behind the reported profit.
• Two exchange inquiries about news reports or price moves in late June 2026, with no explanation in the data of their outcome.
• Changes in the largest shareholder's holdings, which were filed in April, May and July 2026.