Cymechs싸이맥스

Cymechs remains profitable on a trailing basis, but its shares have fallen about 26% over the past month and sit well below their 52-week high.

Cymechs makes wafer transfer equipment for semiconductor makers, and its trailing twelve-month figures to H1 2026 show revenue of ₩173B, operating income of ₩25B and net income of ₩17B. The balance sheet looks light, with liabilities at 26% of equity, cash of ₩96B against borrowings of about ₩1.9B, and positive free cash flow of ₩37B. The share price, at ₩19,870, is down 26% over one month and 21% over three months, though up 6.4% over one year.

What stands out

• Trailing operating margin is 14.2% and net margin is 9.7%, while revenue growth in 2025 was slightly negative at -0.4%.
• Annual revenue has been volatile, falling about 20% in both 2022 and 2023 before recovering in 2024, and net income in 2025 was ₩14.9B versus ₩24.4B in 2021.
• The DCF fair value model gives a base value of ₩30,910, with a bear case of ₩23,595 and a bull case of ₩42,880, compared with the current price of ₩19,870.
• Valuation metrics are a P/E of 13 and P/B of 1.1, with a 2% dividend yield, and the company is far cheaper on these measures than the peers listed in the data.
• Foreign ownership rose from 3.5% to 9% over the past 60 days, while institutions were net sellers over the last 20 days.

What to watch

• The next quarterly and annual results, to see whether margins hold after the recent share price fall.
• Further 5%+ holding reports and insider filings, given several have been filed this year.
• The data contains no recent news headlines, so the reasons for the share price decline are not explained in the information provided.