SFA SemiconSFA반도체

SFA Semicon is still loss-making on an operating basis over the last twelve months, though its share price has risen sharply over the past year.

SFA Semicon, a Korean semiconductor back-end (assembly and test) maker, reported trailing twelve-month revenue of ₩449.6B to H1 2026 but an operating loss of ₩19.2B and a net loss of ₩10.4B. The shares closed at ₩8,130 on 2026-10-26, up 84.8% over one year but down 23.1% over one month, and the company has no dividend yield.

What stands out

• Trailing revenue of ₩449.6B sits above 2025's ₩367.4B, but operating margin is negative at -4.3% versus -5.3% for full-year 2025 and a profit of ₩21.3B in 2024 is not repeated.
• Free cash flow is negative at -₩33.5B on the trailing basis, while cash is ₩32.4B against borrowings of ₩5.0B.
• Foreign ownership rose from 5.7% to 14.9% over about 60 days, while institutions sold ₩66.4B and retail sold ₩14.1B over the last 20 days; foreign investors bought ₩77.4B.
• Filings show a loan extension decision in September 2026 and a 5%+ holding report on 2026-09-29; an amended half-year report was filed on 2026-10-13.
• Valuation metrics: price-to-book 2.8, price-to-sales 3.0, no trailing P/E because earnings are negative. The data contains no analyst ratings or price targets.

What to watch

• The next quarterly or half-year results, given the trailing operating and net losses and the amended H1 2026 filing.
• Details of the September 2026 loan extension and the level of borrowings and cash, as the data shows negative free cash flow.
• Institutional and retail selling versus foreign buying, and whether the sharp one-month share price decline continues; the news feed for the period contains no headlines.