CQV씨큐브

CQV is profitable on a trailing basis and trades at a low multiple, but its share price has fallen about 32% over the past year.

CQV, a Korean chemicals company listed on KOSDAQ, reported trailing revenue of ₩61.8B for the twelve months to H1 2026 with an operating margin of 19.9% and net income of ₩11.0B. At ₩3,090 the shares sit well below their 52-week high of ₩4,750, and the company pays no dividend. The data does not include a company profile or recent news headlines, so the business description is limited to financial figures and filing titles.

What stands out

• Trailing revenue of ₩61.8B is above full-year 2025 revenue of ₩56.5B, which fell 6% year on year after strong 2024 growth of 17.7%.
• Operating margin has held near 18–20% in 2024 to H1 2026, well above the 9.8% seen in 2023.
• Valuation metrics are low: trailing P/E of about 3.2, P/B of 0.3, and EV/EBITDA is not available in the data.
• The company's own discounted cash flow model gives a base value of ₩12,791 per share, versus the ₩3,090 close, with a bear case of ₩8,868 and bull case of ₩19,431; these are model outputs, not forecasts.
• Cash of ₩12.9B is below borrowings of ₩13.7B, and liabilities to equity is 19.2%.

What to watch

• The 2026 full-year results and whether revenue recovers from the 2025 decline.
• Further convertible bond acquisition filings and the 5%+ holding reports, which may relate to shareholder changes.
• Foreign ownership has eased from 15.9% to 15.4% over 60 days, and recent 20-day flows show retail net selling, so investor positioning may be worth monitoring.