Neopharm네오팜

Neopharm's profits have grown steadily and its shares have risen over the past year, but the data gives no outlook beyond the latest reported figures.

Neopharm, a Korean skincare company, reported trailing twelve-month revenue of about ₩148.4B and net income of about ₩37.7B to H1 2026, with a 21.9% operating margin and low leverage. The share price closed at ₩23,150 on 22 October 2026, up 33.1% over one year, and sits between its 52-week low of ₩15,590 and high of ₩26,000. The company's own DCF-based fair value model gives a base case of ₩38,500, but this is a model output, not a forecast or recommendation.

What stands out

• Trailing net income (₩37.7B) is well above the 2025 full-year figure (₩27.9B), and net margin is 25.4%, though the data does not explain the drivers.
• Revenue grew 10.8% in 2025 after 22.8% growth in 2024, while 2022 revenue fell 3.7%.
• Valuation is at a P/E of 9.8 and P/B of 1.8, below the P/E of several larger peers such as APR and Amorepacific, but above Neopharm's own year-end P/B levels in 2022 to 2025.
• Cash of about ₩24.2B exceeds borrowings of about ₩1.7B, with liabilities at 12.5% of equity; the company pays no dividend.
• Recent filings include a corporate value-up plan (March 2026), a half-year report (August 2026) and several 5%+ holding reports; no recent news headlines are included in the data.

What to watch

• The next filings and results releases after the August 2026 half-year report, to see whether profit and margins hold.
• Foreign ownership, which fell from 26.8% to 26.2% over the last 60 days, and recent net selling by foreign and retail investors over 20 days.
• The data does not name specific risks; the share price is about 11% below its 52-week high, and its one-month return was -1.5%.