Kmpharmaceutical케이엠제약

KM Pharma remains loss-making with heavy share price declines, and recent filings include multiple trading halts and delisting-related notices.

KM Pharma sells personal care and household products in Korea and exports, with trailing revenue of about ₩17.0B but an operating loss of about ₩2.9B and a net loss of about ₩3.8B for the twelve months to H1 2026. The share price closed at ₩698 with a market value of about ₩4.5B, down roughly 77% over one year, and borrowings stand at about ₩11.7B against cash of about ₩0.1B.

What stands out

• Revenue has been broadly stable at ₩14B to ₩23B over 2021 to 2025, but operating margins have been negative every year since 2022.
• Trailing net margin is about -22.2%, and liabilities are about 78.9% of equity, which leaves limited financial cushion.
• The share price has fallen about 52% over three months and 77% over one year, with the 52-week range running from ₩508 to about ₩6,850.
• Recent filings include a treasury stock acquisition report (amended), 5%+ holding reports, insider shareholding reports, and several notices on trading halts and delisting.
• Foreign ownership is about 2.2% and unchanged over 60 days, and 20-day net flows were negative across foreign, institutional and retail investors.

What to watch

• Upcoming full-year results and whether losses narrow from the trailing figures.
• The nature and outcome of the trading halts and delisting-related filings, which the data does not explain in detail.
• Debt repayment capacity given low cash against about ₩11.7B in borrowings; the data does not include a free cash flow figure.