Milae Bioresources미래생명자원

Milae Bioresources is loss-making on a trailing basis and its shares have fallen sharply over the past year.

The company supplies feed ingredients and additives for livestock and pet feed producers, with smaller pet, egg distribution and nutrition food businesses. Trailing twelve-month revenue to H1 2026 was ₩72.5B, but it recorded an operating loss of ₩1.0B and a net loss of ₩3.4B. The shares closed at ₩1,737 on 26 October 2026, down 47.8% over one year.

What stands out

• Revenue grew 8.2% in 2025 to ₩67.6B, but the operating loss widened to ₩1.4B from a small profit of ₩184M in 2024.
• Net income turned to a loss of ₩3.3B in 2025 and remains negative on a trailing basis, with ROE at -8.2%.
• Cash of ₩9.6B is below borrowings of ₩4.9B on the trailing figures, and liabilities are 55.3% of equity.
• Trailing free cash flow was positive at about ₩550M, although operating income was negative.
• Foreign ownership rose from 1.3% to 3.6% over the past 60 days, while retail investors were net sellers over the last 20 days. The only recent headline in the data is an 16 October 2026 item on a US USDA import approval listing the company as a designated manufacturer.

What to watch

• The half-year report (filed 14 August 2026) and the next quarterly report, to see whether operating losses are narrowing.
• The fair value model in the data gives a base value of ₩559 and a bull value of ₩1,678, both below or near the current price, so the valuation case depends heavily on assumptions; the data does not include analyst targets.
• Recent governance filings include a CEO change and an amended material matters report on acquiring equity in another company, and the data does not explain the financial effect of that acquisition.