Vitzrocell비츠로셀

Vitzrocell remains highly profitable on its filings, but its share price has fallen 18% over the past month after a large run-up over the year.

Vitzrocell is a Korean battery maker selling mainly overseas to military, industrial and oil and gas drilling customers. On trailing twelve-month figures to H1 2026 it reports revenue of ₩277B, operating income of ₩77B and net income of ₩71B, with low debt. The shares closed at ₩22,800 on 2026-10-26, well below their 52-week high of ₩67,800 but up 56.6% over one year.

What stands out

• Revenue has grown every year shown, from ₩113B in 2021 to ₩243B in 2025, with 2025 growth of 15.3%.
• Operating margin was 28.5% in 2025 and 27.8% on trailing figures to H1 2026, well above the 2021 level of 15.4%.
• Borrowings are ₩16B against cash of ₩20B, and liabilities are 19% of equity.
• The DCF-based fair value model gives a base of ₩31,011, a bear of ₩22,322 and a bull of ₩45,113; this is a model output, not a price target.
• Foreign ownership fell from 31.2% to 28.9% over the last 60 days, while institutions were net sellers over the last 20 days.

What to watch

• The 2026 full-year results and any further preliminary earnings filings, given the recent slowdown in the share price.
• Further 5%+ holding and insider shareholding reports, which have been frequent since July.
• Customer concentration and overseas sales exposure, which the data does not quantify; the news feed for the period contained no headlines.