DuChemBio듀켐바이오

DuChemBio's trailing revenue and operating profit grew in the first half of 2026, but the shares are still down 26% over the past year.

DuChemBio, a Korean radiopharmaceutical maker, reported trailing twelve-month revenue of ₩41.5B and operating income of ₩8.1B through H1 2026, with a 19.4% operating margin. The stock closed at ₩7,060 on 26 October 2026, well below its 52-week high of ₩12,770 but up 12.6% over one month. The company completed a merger recently and has filed notices on new facility investment.

What stands out

• Revenue rose from ₩35.6B in 2024 to ₩38.6B in 2025 (8.3% growth), and trailing figures to H1 2026 reached ₩41.5B.
• 2024 net income of ₩8.0B was higher than 2025 net income of ₩6.5B, even though 2025 operating income was higher, so the 2024 figure may reflect non-operating items; the filings data does not explain this.
• Trailing cash of ₩19.0B exceeds borrowings of ₩5.9B, and trailing free cash flow was ₩11.9B.
• Valuation is high against the fair value model: the stock trades at 29.5x earnings and 3.9x book, while the DCF base case is ₩4,060 and the bull case ₩6,368.
• Recent news ties the recent share move to hopes for domestic approval of Lilly's Alzheimer's treatment; the data does not show whether that approval has happened.

What to watch

• Upcoming results: the data includes no date for the next quarterly or annual report, so the next earnings release is unconfirmed.
• Trading halt and volatility: news on 22 October reported a trading halt on 26 October after volume exceeded limits, and the stock has moved sharply in recent weeks.
• Post-merger effects and new facility investment: the data does not show the merger terms or the investment size, so the impact on future results is unclear.