Daehan Nupharm대한뉴팜

Daehan Nupharm's trailing profit has held up better than its revenue, but the shares have fallen sharply over the past year and the balance sheet carries significant debt.

Daehan Nupharm sells prescription drugs, veterinary medicines and other pharma products in Korea and overseas. For the twelve months to H1 2026 it reported revenue of about ₩211B and operating income of about ₩9.7B, a 4.6% operating margin, while net income of about ₩23.5B was well above operating income. The shares closed at ₩5,110 on 29 October 2026, down 23.5% over one year and near the bottom of their 52-week range.

What stands out

• Operating margin fell from 9.2% in 2024 to 5.8% in 2025 and 4.6% on a trailing basis, while annual revenue has been roughly flat at about ₩200B.
• Net income is well above operating income on a trailing basis, which the data does not explain; it should be checked against the filings before drawing conclusions.
• Borrowings of about ₩106B are large against cash of about ₩15B, and liabilities are 88.8% of equity.
• The shares trade at 3.1 times trailing earnings and 0.5 times book value, and the data shows a 2% dividend yield, but the DCF base value of ₩19,097 is shown only as a model output.
• Filings in 2026 include two amended annual reports for December 2025 and several 5%+ holding reports; no news headlines were in the data.

What to watch

• The next half-year or quarterly results, to see whether operating margin recovers from 4.6%.
• Any further amendments to the 2025 annual report and audit report, which were filed in July and August 2026.
• Debt levels relative to cash, given borrowings of about ₩106B.