SFA EngineeringSFA

SFA Engineering's trailing profits have recovered from the 2024 loss, but revenue is shrinking and the shares are well below their 52-week high.

SFA makes smart factory logistics and process equipment and semiconductor packaging and test products. On trailing figures to H1 2026 it reports revenue of ₩1.55T, operating income of ₩80B and net income of ₩61B, with a 5.2% operating margin. Revenue fell 20.3% in 2025 after a 2024 net loss of ₩73B, and the shares closed at ₩24,550, about 33% below their 52-week high of ₩36,500.

What stands out

• Trailing operating margin is 5.2% and net margin 4.0%, versus 12.1% in 2021, so profitability is well below its earlier level.
• Trailing free cash flow of ₩258B is well above net income of ₩61B, and cash of ₩280B exceeds borrowings of ₩165B.
• Valuation metrics are modest: P/E 14.4, P/B 0.9, dividend yield 3.9%, and the in-house DCF base value of ₩6,998 is far below the share price, while the bull case is ₩25,341.
• Foreign ownership rose to 13.7% from 12.7% sixty days earlier, while retail and institutional investors were net sellers over the last 20 days.
• Recent filings are mostly insider and 5%+ holding reports, plus a cash dividend decision and half-year report in August 2026. No recent news headlines were provided.

What to watch

• The next half-year or annual results, to see whether revenue and margins keep recovering from the 2024 loss and 2025 revenue decline.
• Further insider and 5%+ holding filings, as these show ongoing share movements.
• Whether the in-house DCF value, which is far below the current price, is explained by new information; the data gives no analyst ratings or price targets.