EuBiologics유바이오로직스

EuBiologics posted strong profit growth through 2025 and the first half of 2026, but its shares have fallen sharply over the past year.

EuBiologics is a Korean vaccine maker, best known for an oral cholera vaccine sold mainly to UNICEF, that also offers contract manufacturing for biopharma clients. On trailing twelve-month figures to H1 2026 it reports revenue of ₩122B... see note: revenue is ₩122B and operating income ₩43B, a 35.4% operating margin, while the stock closed at ₩7,540, down 42% over one year and well below its 52-week high of ₩17,700.

What stands out

• 2025 revenue rose 55.4% to ₩149B and net income reached ₩41B, versus a net loss of ₩13B in 2023.
• Trailing revenue of ₩122B and net income of ₩29B to H1 2026 are below the 2025 full-year totals, so recent momentum looks slower than in 2025.
• The data shows a P/E of 9.5 and P/B of 1.5, below most listed Korean peers in the provided list, though the DCF base value of ₩13,388 is above the current price.
• Borrowings of ₩17B exceed cash of ₩14B, and liabilities are 31.7% of equity; free cash flow on a trailing basis was ₩13B.
• Recent headlines cover a shingles vaccine Phase 1 result with a Phase 2 IND filing and a visit from the WHO Director-General; the filings list also includes share cancellation and a trust contract termination.
• Foreign ownership fell from 7.0% to 6.1% over 60 days, and 20-day foreign flows were net negative.

What to watch

• The next half-year or annual results, to see whether revenue and margins hold near the 2025 levels.
• Progress on the shingles vaccine Phase 2 trial after the IND application, and any further major contract filings.
• Pending management matters and share-related filings, which the data describes only by title; the content is not provided.