YMC와이엠씨

YMC's trailing earnings have shrunk sharply from 2022 peaks, though the share price has risen over the past three months.

YMC makes sputtering targets and display process equipment parts, with Samsung Display named as a customer. On trailing twelve months to H1 2026 it reports revenue of ₩189B, operating income of ₩6.0B and net income of ₩5.1B, far below its 2022 levels. The share price closed at ₩3,665 on 2026-10-20, up 31.4% over three months but 4% over one year.

What stands out

• Revenue was ₩173B in 2025 and ₩189B on a trailing basis to H1 2026, but operating margin has narrowed from 9.8% in 2022 to 3.2% trailing.
• 2025 net income was ₩1.3B against ₩6.8B in 2024, while trailing net income is ₩5.1B, so earnings have been volatile.
• Trailing free cash flow is negative at about -₩0.4B, and borrowings of ₩22.7B exceed cash of ₩22.2B, with liabilities at 53.7% of equity.
• Valuation is roughly 13.6x trailing P/E and 0.6x P/B, with a 2% dividend yield; the internal DCF base value is ₩4,511, against bear and bull values of ₩1,849 and ₩9,212 in the data.
• Filings in 2026 include a corporate value-up plan (September and April), a half-year report and a preliminary earnings notice, and the data shows no news headlines.

What to watch

• The Q3 2026 quarterly report and whether margins and free cash flow improve from the trailing levels shown.
• Details of the September 2026 corporate value-up plan, which the filings list but the data does not describe.
• Debt levels relative to cash, and the repeated stock purchase option grant notices and insider holding reports in 2026.