Foosung후성

Foosung returned to a profit over the last twelve months after two loss-making years, but the stock has fallen sharply over the past month and debt is high.

Foosung makes fluorine-based chemicals, including battery electrolyte materials, semiconductor gases and refrigerants, plus process equipment through its subsidiary Hantech. On trailing twelve-month figures to H1 2026 it reported revenue of ₩570B, operating income of ₩43B and net income of ₩36B, against a loss in 2023 and 2024. The share price closed at ₩9,940 on 26 October 2026, down 28.7% over one month but up 25.8% over one year.

What stands out

• Trailing twelve-month operating margin is 7.6% and net margin 6.4%, compared with a 5.4% operating margin in 2025 and losses in 2023 and 2024.
• Free cash flow over the trailing twelve months is negative at about ₩-10B, while borrowings are ₩330B against cash of ₩69B.
• Liabilities are 110.7% of equity, and the dividend yield is 0%.
• Valuation is 29.2 times earnings and 2.9 times book value, well above several listed chemical peers shown in the data.
• Foreign ownership fell from 11.9% to 10.4% over about 60 days, while foreign investors were net buyers over the last 20 days and institutions and retail were net sellers.
• Recent filings are mostly 5%+ holding reports, along with the half-year report for June 2026. No recent news headlines were available in the data.

What to watch

• The next quarterly results and whether the trailing profit and margins hold, given the negative free cash flow.
• Further 5%+ holding reports and any changes in foreign and institutional ownership.
• Debt levels relative to cash, and any new financing or conversion-related share issuance, since a March 2026 filing covered conversion and preemptive rights for new shares.