DaeChang Steel대창스틸

DaeChang Steel is a small, low-margin steel processor whose trailing profit is thin and whose free cash flow is negative.

Trailing twelve-month revenue to H1 2026 was about ₩426B with an operating margin of 1.6% and net income near ₩6.5B. Free cash flow was negative at about -₩16B, and borrowings of ₩9.1B exceed cash of ₩9.5B only slightly, with liabilities at 88.6% of equity. The share price is ₩1,996, below its 52-week high of ₩2,545 and near the low of ₩1,810.

What stands out

• Revenue fell 1% in 2025 and 4.1% in 2024 after a 34.5% jump in 2022, so top-line growth has been inconsistent.
• Net income in 2022 of about ₩55.7B was far above other years, while 2024 net income was only about ₩0.8B, so earnings are volatile.
• The stock trades at a trailing P/E of 6.5 and P/B of 0.3, with a stated 7.5% dividend yield, but the data does not show the dividend history or payout sustainability.
• Foreign ownership rose from 0.7% to 0.9% over 60 days, while foreign investors were net sellers over the last 20 days.
• Recent filings include a loan provision decision and its amendment, a change in sales or profit structure, and a corporate value-up plan, but the news list is empty and the data does not explain these filings in detail.

What to watch

• The H1 2026 half-year report and any further amendment to the loan provision decision, which the data does not describe.
• Whether free cash flow turns positive, given the trailing figure of about -₩16B against modest cash.
• The DCF fair value range in the data is ₩6,639 to ₩27,427 with a base of ₩14,280; the model's assumptions are not included, so treat it with caution.