Systems Technology에스티아이

Systems Technology shares have rallied sharply over the past month, but its reported profits fell in 2025 and trailing free cash flow is negative.

Systems Technology (KOSDAQ: 039440) is a Korean machinery company whose trailing twelve-month revenue is about ₩303B with an operating margin of 4.1% and a net margin of 6.4%. Its 2025 revenue and operating income were both lower than 2024, and its trailing free cash flow is about -₩55B. The share price closed at ₩27,350 on 2026-10-13, up 43% over one month and 12.1% over one year, and sits between its 52-week low of ₩17,320 and high of ₩43,200.

What stands out

• Revenue for 2025 was about ₩328B, down 1.8%, and operating income fell from ₩27.3B in 2024 to ₩19.7B in 2025.
• Trailing twelve-month operating income is about ₩12.4B and net income about ₩19.4B, so net income is higher than operating income in the data provided.
• The DCF base fair value in the data is ₩6,250, well below the current price of ₩27,350; the bear and bull values are ₩2,692 and ₩12,346. The data does not explain the gap.
• Balance sheet looks modest: liabilities-to-equity is 18.5%, cash about ₩43.8B against borrowings of about ₩2.0B.
• Recent filings include several major sales or supply contracts (April, July) and a debt guarantee decision for another party in June 2026. Foreign ownership and short-selling data are not in the pack.

What to watch

• Free cash flow was negative on a trailing basis; watch whether the next half-year or quarterly filings show it turning positive.
• The 2026 half-year report was filed on 2026-08-14; detail on contract revenue and margins from future filings will show whether the one-month rally is backed by results.
• The June 2026 debt guarantee for another party is a contingent liability; watch for any follow-up disclosures.