Jeju Semiconductor제주반도체

Jeju Semiconductor's trailing profits are strong on a small revenue base, but its share price has fallen about 21% over the past month after a 191% gain over the year.

Jeju Semiconductor is a fabless designer of mobile memory chips, with most sales exported and manufacturing outsourced to partners in Taiwan and Korea. Trailing twelve-month figures to H1 2026 show revenue of ₩673B, operating income of ₩217B and net income of ₩231B, well above its 2025 full-year results. Free cash flow over the same period was negative at about -₩47B, and the data shows no dividend.

What stands out

• Trailing revenue of ₩673B is more than double 2025 revenue of ₩302B, and trailing operating margin is 32.2% versus 11.9% in 2025.
• Net income exceeds operating income in the trailing figures, so non-operating items or other gains may be contributing; the data does not break this down.
• Trailing free cash flow is negative at about -₩47B, while borrowings are ₩134B against cash of ₩114B.
• The stock is at ₩61,300, below its 52-week high of ₩138,000 but far above its low of ₩17,480; the model's base fair value is ₩27,688, below the current price.
• Filings in the last few months include several short-term borrowing decisions, a 5%+ holding report, and a treasury share sale decision dated 27 October 2026.

What to watch

• The next half-year or annual results, to see whether the strong trailing profit and margins hold and whether cash flow turns positive.
• Details of the treasury share sale decision and any further short-term borrowing increases, which bear on financing needs.
• Share price volatility: the stock has swung widely over 52 weeks and the data lists a short balance of 6.2% of shares.