Bioneercorporation바이오니아

Bioneer is back near break-even on a trailing basis after a loss-making 2024, but its share price is down 46% over the past year and the filings show thin margins and net losses.

Bioneer is a Korean biohealthcare company selling research products, molecular diagnostics kits, probiotic foods and RNA interference drug development. Over the trailing twelve months to H1 2026 it reported revenue of ₩346B, operating income of ₩6.2B and a net loss of ₩6.7B, with free cash flow negative at about ₩10B. The shares closed at ₩7,250 on 2026-10-23, well below the 52-week high of ₩15,640.

What stands out

• Revenue has grown from ₩218B in 2022 to ₩330B in 2025, but operating margin fell from 21% in 2021 to 4.6% in 2025 and 1.8% on a trailing basis.
• The company reported net losses in 2023, 2024 and 2025, and a trailing net loss of ₩6.7B to H1 2026.
• Borrowings of ₩45.9B exceed cash of ₩44.0B, and liabilities are 69.7% of equity.
• The DCF-based fair value model gives a base value of ₩6,185 against the ₩7,250 close, with a bear case of ₩1,291 and a bull case of ₩15,100; these are model outputs, not forecasts.
• Foreign ownership fell from 7.5% to 4.3% over the past 60 days, while the 20-day investor flows data shows foreign net buying.

What to watch

• The next quarterly and annual results, to see whether operating margin can hold above break-even and free cash flow turns positive.
• Future filings on the Ace Biome and Suna Genetherapeutics subsidiaries, which the data does not describe in financial detail.
• The data includes no recent news headlines and no analyst coverage, so any company announcements beyond the listed filings are not visible here.