ChoA Pharmaceutical조아제약

ChoA Pharmaceutical remains loss-making with heavy debt, and its shares have fallen sharply over the past year.

ChoA Pharmaceutical sells roughly 200 medicines and health foods, mostly through pharmacies, and exports to 23 countries. Its trailing twelve-month revenue is ₩61.2B, but it posted an operating loss of ₩4.1B and a net loss of ₩2.8B, with borrowings of ₩24.5B against cash of ₩2.4B. The share price closed at ₩1,771 on 2026-10-28, down 68.8% over one year, and the filings list several trading halts and a market-capitalisation notice in recent months.

What stands out

• Revenue has been broadly flat to down: ₩59.3B in 2025 after ₩62.7B in 2024, with losses in every year since 2021 except 2022.
• Trailing operating margin is -6.8% and net margin is -4.6%, an improvement on the 2025 operating margin of -11.1%.
• Liabilities are 129.5% of equity and free cash flow is negative at about -₩2.9B on a trailing basis.
• The stock trades at about 0.3 times book value and 0.2 times sales, with no dividend; price-to-earnings is not meaningful because earnings are negative.
• Recent filings include an exchange inquiry about a news report or price move in June, a share consolidation decision in May, and a market-capitalisation notice in October; the only news item in the data is a product launch of a probiotic supplement.

What to watch

• The next periodic results and whether losses narrow from the trailing figures.
• Any further trading halts, exchange inquiries or notices, as listed in the recent filings.
• Debt levels relative to cash, since borrowings are about ten times cash in the data provided; the data does not include a debt repayment schedule or the reasons for the trading halts.