SY에스와이

SY is loss-making on a trailing basis, with revenue holding near ₩528B and the share price down sharply over the past year.

SY makes prefabricated sandwich panels and related building materials, selling into building construction with subsidiaries in Vietnam, Cambodia and Nepal. Trailing twelve-month figures to H1 2026 show revenue of ₩528B, an operating loss of ₩6.8B and a net loss of ₩13.6B, after a profitable 2024. The shares closed at ₩1,756 on 27 October 2026, about 42% lower over one year.

What stands out

• Trailing operating margin is -1.3% and net margin is -2.6%, compared with a 3.9% operating margin in 2024.
• Borrowings of ₩212.6B exceed cash of ₩53.0B, and liabilities are 127.2% of equity.
• Trailing free cash flow is negative at -₩73.9B.
• Valuation metrics are low on book value (P/B 0.5) and sales (P/S 0.2), but P/E is not meaningful because earnings are negative; no dividend is paid.
• Foreign ownership rose slightly to 2.2% from 1.8% over 60 days, while retail investors were net sellers over the last 20 days.
• Several 5%+ holding reports were filed between April and October 2026, and an amended annual report for Dec 2025 was filed in July.

What to watch

• The next quarterly or annual results, to see whether the operating loss narrows from the H1 2026 trailing level.
• Debt levels and cash flow, given borrowings well above cash and negative free cash flow.
• Further 5%+ holding reports or changes in ownership, since the data does not explain their purpose. News coverage in the data is empty, so no recent company-specific news is available.