Seung IL승일

Seung IL is a small aerosol can maker with thin margins, shrinking share price over the past year, and a valuation that depends heavily on its DCF range.

For the trailing twelve months to H1 2026, Seung IL reported revenue of about ₩145.9B, operating income of ₩2.2B and net income of ₩3.2B, implying a 1.5% operating margin. The shares closed at ₩6,490 on 2026-10-27, down 29.5% over one year but up 3.8% over three months, with a market value of about ₩39.8B.

What stands out

• Revenue has been broadly flat at roughly ₩140-160B across 2021-2025, with 2025 down 2% to ₩141.5B.
• Operating margins have stayed low, between 0.4% and 2.6% in the years shown, and the latest TTM figure is 1.5%.
• Net income in 2024 (₩3.7B) and TTM (₩3.2B) was well above operating income, so non-operating items matter to the bottom line.
• The balance sheet shows cash of about ₩6.6B against borrowings of about ₩1.8B, with liabilities at 25% of equity, and TTM free cash flow of about ₩6.3B.
• The DCF model gives a base value of ₩7,872 against a bear case of ₩3,553 and a bull case of ₩16,260; the shares trade below the base case.

What to watch

• Upcoming quarterly and annual results, since margins are thin and small changes in costs or volumes move profit a lot.
• The company was flagged in March 2026 as a concern-designation candidate for an administrative issue related to trading volume shortfall; any follow-up notice is worth checking.
• Foreign ownership is very low at 0.9%, and recent 20-day flows were net foreign selling; the data does not explain the reasons behind these moves.