Samjin삼진

Samjin's latest filings show thin margins and shrinking revenue, while the shares have fallen about 31% over the past year.

Samjin makes remote controls and related electronic parts, mainly for TVs, with Samsung Electronics as its main customer. Trailing twelve-month revenue to H1 2026 is about ₩136B... more precisely ₩136.1B, with operating margin of 2.8% and net margin of 3.1%, and the company holds ₩24.3B in cash with no reported borrowings. The share price of ₩2,805 sits near the lower part of its 52-week range of ₩2,595 to ₩4,105.

What stands out

• Revenue fell 6.8% in 2025 to ₩148.3B, and the trailing figure to H1 2026 is ₩136.1B, so the top line is still under pressure.
• Operating income dropped from ₩7.2B in 2024 to ₩5.8B in 2025, and trailing operating income is ₩3.8B, a 2.8% margin.
• Net income in 2025 (₩3.9B) and trailing (₩4.2B) are well below 2024's ₩9.0B, and trailing ROE is 3.8%.
• Valuation metrics are low (P/E about 6, P/B about 0.2, dividend yield 3.2%), and the fair value model's base case is ₩2,004, below the current price; the bull case is ₩7,093 and the bear case is ₩0.
• Trailing free cash flow of ₩15.1B is well above trailing net income, and the balance sheet shows liabilities at 12.9% of equity with no borrowings listed.

What to watch

• The full-year 2026 results and the next quarterly report, to see whether revenue and margins stabilise after the recent decline.
• Customer concentration on Samsung Electronics and any changes in TV component demand, which the profile identifies as the core business.
• Foreign ownership (4% now, up from 3.9% 60 days ago) and insider or major-holder filings, plus the China expansion mentioned in the latest headline, which the data does not give financial detail on.