Synergy Innovation시너지이노베이션

Synergy Innovation's trailing profits are still solid, but the share price has fallen about 45% over the past year.

Synergy Innovation makes microbial culture media, mainly for environmental monitoring in pharmaceutical manufacturing, and also runs medical and health functional food segments. On trailing twelve months to H1 2026 it reported revenue of ₩116.6B, operating income of ₩18.9B and net income of ₩10.0B, with cash of ₩45.1B against borrowings of ₩12.2B. The stock closed at ₩1,397, well below its 52-week high of ₩2,600.

What stands out

• Trailing operating margin is 16.2% and net margin 8.6%, while 2025 net income fell to ₩3.0B from ₩10.4B in 2024 despite revenue growth of 24.8%.
• Trailing ROE is 5% and the company pays no dividend, according to the data provided.
• The model's base-case fair value is ₩4,849 per share, with a bear case of ₩3,296 and a bull case of ₩7,429; these are model outputs, not forecasts or targets.
• Recent filings are dominated by amended major-matters reports on a transfer of equity securities of another company, plus several convertible bond acquisitions.
• Over the past 20 trading days, institutions and foreign investors were net buyers while retail investors were net sellers; foreign ownership is little changed at 14.3%.

What to watch

• The next half-year or annual results and whether margins hold, given the sharp drop in 2025 net income.
• Further amendments or details on the equity securities transfer and convertible bond transactions, which the filings do not fully explain in the data provided.
• The data contains no recent news headlines, so the reasons behind the share price decline are not clear from the information given.