KoMi코미코

KoMiCo's trailing profits are still positive but have shrunk from 2024 and 2025 levels, and the shares have fallen sharply over the past month.

KoMiCo cleans, coats and refurbishes semiconductor equipment parts and makes ceramic components, with customers including Samsung, SK hynix, Intel and TSMC. For the twelve months to H1 2026 it reported revenue of ₩656B, operating income of ₩97B and net income of ₩32B, but free cash flow was negative at about -₩202B and borrowings stand at ₩702B. The shares closed at ₩22,850 on 26 October 2026, down 28.1% over one month and 5% over one year.

What stands out

• Revenue for the twelve months to H1 2026 (₩656B) is above 2025 full-year revenue (₩604B), but net income (₩32B) is well below 2025 (₩50B) and 2024 (₩56B).
• Operating margin has eased from 22.2% in 2024 to 14.8% on the trailing figures, and net margin is 4.9%.
• Borrowings of ₩702B are large against cash of ₩164B, and liabilities are 222.4% of equity.
• Valuation metrics are P/E 36.7 and P/B 4.1, while the DCF model's base value is ₩34,613, which is above the current price; the bear and bull values are ₩16,990 and ₩64,195.
• Foreign ownership rose from 25.3% to 27.6% over the past 60 days, while institutions were net sellers over the last 20 days, and the filings list several 5%+ holding reports in September and October.

What to watch

• Next periodic results and whether the margin decline continues, since trailing net income has fallen well below the 2024 and 2025 levels.
• Cash flow and debt: the negative free cash flow and ₩702B of borrowings are the main financial risks named in the data.
• Filings for the recent property, plant and equipment acquisition and further 5%+ holding reports, which may show changes in major shareholders.