Miwon Chemicals미원화학

Miwon Chemicals reported stronger first-half 2026 earnings on a trailing basis, with the shares up over the past year, though the data shows little recent news coverage.

Miwon Chemicals makes sulfur-based specialty chemicals for rubber, electronics and detergent uses, selling mostly abroad. On a trailing basis to H1 2026 it reports revenue of about ₩342B, operating income of about ₩47B and net income of about ₩38B, up from full-year 2025 levels of ₩285B revenue and ₩25B net income. The stock closed at ₩11,210 on 2026-10-22, roughly ₩246B market cap.

What stands out

• Trailing operating margin is 13.8% and net margin 11.2%, both above the 2025 full-year levels of 10.2% and about 8.7%.
• The shares returned 25.8% over one year and 11.8% over one month, and trade about 27% below the 52-week high of ₩15,400.
• Valuation metrics are low versus the company's own history: P/E 6.4, P/B 1.3, and the data lists a dividend yield of 40.1%, which is unusually high and should be checked against the filed dividend decision.
• The company reports ₩32B in cash against ₩126M in borrowings, and trailing free cash flow of about ₩21B.
• The filed DCF fair value range is ₩16,999 (bear) to ₩40,968 (bull), with a base of ₩25,894; this is a model output from the data, not a forecast or recommendation.

What to watch

• A new facility investment was filed on 2026-10-15; the data does not give its size or purpose, so the filing itself should be read for details.
• The next half-year or annual filings will show whether margins hold up; the data includes no forward estimates.
• Recent filings show repeated insider and 5%+ holding reports, plus a largest-shareholder holding change in July; the news list is empty, so no outside coverage is captured.