Macrogen마크로젠

Macrogen's shares have fallen about 26% over the past year, while trailing results show a small profit on ₩201.6B of revenue.

Macrogen is a Korean genome sequencing and precision medicine company. On trailing twelve-month figures to H1 2026 it reports ₩201.6B revenue, a 2.5% operating margin and a 5.1% net margin, after a loss-making 2023 and 2024. The share price is ₩11,150, near the lower half of its 52-week range of ₩10,440 to ₩20,900.

What stands out

• Revenue rose 43.8% in 2025 to ₩195.3B, but operating income was only ₩181M, a margin of about 0.1%.
• Trailing net income of ₩10.3B is well above operating income, so non-operating items or one-offs may matter; the data does not explain the gap.
• Balance sheet is leveraged: liabilities are 116.4% of equity, with ₩98.9B borrowings against ₩56.4B cash.
• Valuation metrics are low on trailing earnings (P/E 11.7, P/B 0.8), and the data shows a 4.5% dividend yield.
• Foreign ownership slipped from 3.8% to 3.7% over 60 days, and 20-day foreign flows were net negative while retail flows were positive.

What to watch

• Next quarterly and annual results, to see whether margins hold after the thin 2025 operating profit.
• Amended major sales or supply contract filing from September 2026; the contract terms are not in the data.
• Debt levels relative to cash, given the high liabilities-to-equity ratio and the lack of a fair value estimate in the data.