Wooyang우양

Wooyang's shares have fallen sharply over the past year while the business reports thin margins and heavy debt, with profitability only recently recovering.

Wooyang is a Korean food manufacturer supplying processed ingredients and ready-to-cook products to food companies and restaurant chains through five factories. Trailing twelve-month figures to H1 2026 show revenue of ₩194B, operating income of ₩3.8B and net income of ₩0.9B, with liabilities at 243% of equity and borrowings of ₩70B. The share price is ₩1,482, down 62.5% over one year and well below its 52-week high of ₩4,025.

What stands out

• 2025 was the strongest recent year in the filings, with revenue of ₩184B, operating income of ₩4.7B and net income of ₩2.2B, after losses in 2022 to 2024.
• Margins are very thin: trailing operating margin is 1.9% and net margin 0.5%, and ROE is 2%.
• Borrowings of ₩70B sit against cash of only ₩0.5B, a high debt load relative to the company's earnings.
• Trailing free cash flow of ₩7.4B is well above net income, though the filings data does not explain the gap.
• Valuation metrics show a P/E of 26.6 and P/B of 0.5, and no dividend is paid; the data contains no analyst ratings or price targets.
• Foreign ownership fell from 4.3% to 3.6% over 60 days, and 20-day foreign investor flows were net negative.

What to watch

• The full-year 2026 results and next quarterly report, to see whether the recent profit recovery holds given the debt level.
• Further convertible bond acquisition filings in July and August 2026, which the data does not explain in detail.
• No recent news headlines were available in the data, so any new company developments would need to be checked directly in the filings.