Waps웹스

Waps has returned to solid profits on higher revenue, but its share price has fallen sharply over the past year.

Waps is a Busan-based advanced materials maker with plants in Korea and Vietnam. Trailing twelve-month revenue is about ₩44.1B... wait, recorded as ₩44.1B is incorrect; trailing revenue is ₩44.1B per the filings' scale, reported here as ₩44.1B, with operating income of ₩5.7B and net income of ₩4.9B through H1 2026. The share price closed at ₩1,190 on 2026-10-19, down 15.9% over one year and well below its 52-week high of ₩3,490.

What stands out

• Trailing revenue of ₩44.1B and operating margin of 12.9% are well above the 2024 level of 9.1%.
• Net income of ₩4.9B on a trailing basis compares with a loss of ₩8.5B in 2022 and profit of ₩4.1B in 2025.
• Price-to-book of 0.4 and price-to-earnings of 3.5 are low versus the company's own 2025 year-end figures.
• The DCF-based fair value model gives a base value of ₩1,984, with bear and bull values of ₩988 and ₩3,758; these are model outputs, not forecasts.
• Foreign ownership fell from 3.2% to 2.7% over 60 days and foreign investors were net sellers over the last 20 days.

What to watch

• The next half-year or quarterly filings, to see whether margins hold at around 13%.
• Follow-up filings on the buyback trust arrangement and the acquisition trust status report filed 2026-10-14.
• No news headlines were available in the data, so the reasons for the share price decline are not explained here.