LTC엘티씨

LTC's profitability has recovered sharply on higher trailing revenue, though the shares have fallen 13% over the past month.

LTC, a KOSDAQ-listed chemicals maker supplying process chemicals to display and chip manufacturers, reported trailing twelve-month revenue of ₩412.9B and operating income of ₩56.6B to H1 2026, up from ₩29.6B operating income in 2025. The shares closed at ₩33,600 on 2026-10-27, well below the 52-week high of ₩60,700 but up 65.9% over one year.

What stands out

• Trailing operating margin is 13.7% and net margin 5.2%, against 9.5% and 1.6% for 2025 as a full year (2025 net income was ₩4.8B).
• Net income for the trailing period is ₩21.3B, and the company reports ₩72.3B of cash against ₩80.5B of borrowings.
• Liabilities are 55.4% of equity, and trailing free cash flow is ₩45.4B.
• Valuation metrics are P/E 16.7 and P/B 2.4, with a dividend yield of 0.3%; the company's own DCF base value is ₩1,640, far below the share price, while the bull case is ₩22,106.
• Recent filings include the H1 2026 half-year report and an amended 2025 annual report, plus several 5%+ holding reports; no news headlines were available in the data.

What to watch

• The next filings on results and the amended 2025 annual report, which may change the reported 2025 figures.
• Whether the trailing margin improvement holds, given the 2023 loss and the swing in earnings across recent years.
• Institutional investors were net sellers over the past 20 days (about ₩3.7B), while foreign ownership is 5.1%; the data does not explain the reasons for these flows.