Hugel휴젤

Hugel remains highly profitable on a trailing basis, but its shares have fallen sharply over the past year.

Hugel, a KOSDAQ-listed maker of botulinum toxin and hyaluronic acid filler products, reported trailing twelve-month revenue of ₩480B and operating income of ₩209B to H1 2026, with a 43.6% operating margin and low leverage. The share price closed at ₩176,400 on 2026-10-26, down 33.1% over one year and well below its 52-week high of ₩308,500. The data shows a profitable business whose stock has de-rated sharply.

What stands out

• Trailing revenue of ₩480B is up from ₩425B for full-year 2025, and operating income of ₩209B compares with ₩201B for 2025.
• Annual operating margin peaked at 47.2% in 2025 and has eased to 43.6% on a trailing basis.
• Trailing P/E is about 14 and P/B about 2.1, down from 25.8 and 4.4 at end-2024.
• The fair value model's base case is ₩326,841, above the current price, but this is a model output, not a forecast or a rating.
• Net cash position: cash of ₩260B against borrowings of ₩26B, with free cash flow of ₩148B trailing.
• Recent filings are mostly routine: half-year report, shareholder meeting results, insider holdings reports and investor relations events.

What to watch

• Next periodic results and whether the margin decline from 47.2% continues.
• Foreign ownership has risen to 57.6% from 56.5% 60 days ago, while institutions and retail have been net sellers over the last 20 days; watch the direction of these flows.
• The data does not include a dividend (yield is 0%), analyst ratings, or details of competition and regulatory risks beyond what the filings list.