HS Valve화성밸브

HS Valve swung to a trailing half-year operating loss on falling revenue, and its shares have fallen sharply over the past year.

HS Valve, a Korean maker of piping valves, reported trailing twelve-month revenue of ₩86.4B to H1 2026 but an operating loss of ₩1.5B, with a slim net profit of ₩0.4B. Free cash flow was negative at ₩5.9B, and the shares closed at ₩5,990 on 30 October 2026, down 33.5% over one year.

What stands out

• Revenue fell 10.8% in 2025 to ₩81.4B, and 2025 closed with a net loss of ₩2.0B after profits of ₩7.1B in 2024.
• Trailing operating margin is -1.7%, while net income of ₩0.4B is near break-even, so the net result is not driven by core operations in the data.
• Cash of ₩5.1B against borrowings of ₩11.5B and a liabilities-to-equity ratio of 35.5% are shown in the data; the balance sheet is not described further.
• Valuation metrics are stretched on trailing earnings, with a P/E of 153.2 and P/B of 0.6, and the data shows no dividend yield.
• Foreign ownership fell from 3.6% to 1.5% over about 60 days, and foreign investors were net sellers over the last 20 days.

What to watch

• The next quarterly or annual results, to see whether operating income turns positive again from the trailing loss.
• Changes in foreign and insider holdings, given recent 5%+ holding and insider shareholding reports.
• Free cash flow and borrowings, since the data shows negative free cash flow and ₩11.5B of debt against ₩5.1B of cash.