Samt에스에이엠티

Samt's trailing revenue has jumped sharply, but thin margins, heavy borrowing and negative free cash flow weigh on the picture.

Samt is an electronic components distributor serving large smartphone, TV and display makers, with sales in Korea and overseas. Trailing revenue to H1 2026 is about ₩6.5T, up strongly from ₩3.8T in 2025, while operating margin is 8.5% on a trailing basis versus 3.0% in 2025. Borrowings of ₩1.0T against cash of ₩151B and trailing free cash flow of -₩497B are key points to weigh.

What stands out

• Trailing revenue of ₩6.5T and net income of ₩396B are far above the 2025 full-year figures of ₩3.8T and ₩76B.
• Trailing operating margin of 8.5% compares with 3.0% in 2025 and 2.3% in 2024, a clear step up in the filed numbers.
• Liabilities are 178.9% of equity and borrowings total ₩1.0T, while free cash flow is negative at -₩497B on a trailing basis.
• The share price is down 31.3% over three months but up 98.3% over one year, with the stock about 66% below its 52-week high of ₩19,950.
• Valuation metrics are low (P/E 1.7, P/B 0.8) and a 3.3% dividend yield is shown, but the data includes a fair value model with a very wide range, which is not a forecast.
• Foreign ownership fell from 9.1% to 7.9% over the last 60 days and foreign investors were net sellers over the past 20 days.

What to watch

• Recent filings include several debt guarantee decisions for other parties in September 2026 and an amended loan provision decision, so the scale and terms of these guarantees matter.
• A bonus share issue decision was filed in August 2026; the data does not give its terms or effect on shareholders.
• Next results and cash flow trends, given the negative trailing free cash flow and high borrowings. No news headlines were provided in the data.