Optipharm옵티팜

Optipharm is still loss-making on a trailing basis, with revenue growing but operating losses persisting into 2026.

Optipharm, a KOSDAQ-listed animal health and diagnostics company, reported trailing twelve-month revenue of ₩23.6B to H1 2026 but an operating loss of ₩1.8B and a net loss of ₩2.2B. Its share price closed at ₩4,450 on 2026-10-20, near the lower part of its 52-week range of ₩4,075 to ₩6,250. The data does not include earnings-based valuation multiples because the company is unprofitable.

What stands out

• Revenue rose from ₩14.3B in 2021 to ₩22.3B in 2025, with 2025 growth of 13.8%, while the operating margin improved from -31.6% to -10.8%.
• Trailing operating margin is -7.5% and net margin is -9.5%, so losses remain, though smaller than in 2021 to 2024.
• Free cash flow is negative at about -₩0.6B on a trailing basis, while cash stands at ₩4.0B and no borrowings are reported.
• The stock is down 9.3% over one year and 6.3% over three months; price-to-book is 2.7 and there is no dividend.
• Foreign ownership is steady at 0.8%, and recent filings are mostly routine items such as the half-year report, insider shareholding reports and IR events. No news headlines were in the data.

What to watch

• The next quarterly or annual results, to see whether losses narrow further and whether free cash flow turns positive.
• Any new filings on capital, borrowings or shareholder matters, given the negative cash flow and the liabilities-to-equity ratio of 62.8%.
• Whether the company's animal diagnostics and veterinary product business keeps growing; the data does not include a forecast or guidance.