PJ Metal피제이메탈

PJ Metal's trailing profits are thinner than in 2021 but revenue has grown, and the stock sits near the low end of its 52-week range.

PJ Metal, a KOSDAQ-listed maker of aluminum products such as deoxidizers and billets, reported trailing twelve-month revenue of ₩403B and net income of ₩14B to H1 2026. Its 2025 revenue rose 37% to ₩349B, but operating margin remained low at 3.5%, and free cash flow over the trailing period was negative at about -₩22B. The share price of ₩2,785 is well below its 52-week high of ₩4,140.

What stands out

• Trailing operating margin is 7% and net margin 3.6%, compared with 10.2% operating margin in 2021, so profitability is well below that peak.
• Borrowings of ₩72B against cash of ₩3.7B, with liabilities at 111% of equity, indicate a significant debt load.
• Trailing free cash flow is negative at about -₩22B, even though reported net income is positive.
• The data shows a P/E of 4.8 and P/B of 0.9, but no analyst ratings or price targets are included, and the DCF base value of ₩6,656 is a model output, not a forecast.
• Foreign ownership fell from 3.3% to 2.3% over about 60 days, and foreign investors were net sellers over the last 20 days.

What to watch

• The H1 2026 half-year report (filed 14 Aug 2026) and any full figures behind the preliminary earnings already filed, especially cash flow and borrowings.
• The CEO change and the shareholders' meeting matters filed in mid-2026, which may affect management direction.
• The news feed contains no headlines, so no recent press coverage is available; the company's 2026 outlook is not in the data.