Synic Solution싸이닉솔루션

Synic Solution's shares have fallen sharply over the past year, and its profits are very thin.

Synic Solution, a KOSDAQ-listed semiconductor company listed since July 2025, reported trailing revenue of ₩154.6B with an operating margin of just 1.6% and net income of ₩1.7B for the period to H1 2026. The share price is ₩2,980, down 65.3% over one year, with a market value of ₩70.3B. The data does not describe the company's own products, customers or operations.

What stands out

• Trailing free cash flow was negative at about -₩2.4B, while cash of ₩33.0B exceeded borrowings of ₩13.6B.
• Liabilities are 120.9% of equity and ROE is 4.4%, so returns on the capital base are modest.
• At ₩2,980, the stock trades on about 40.8x earnings and 1.8x book, against a 52-week range of ₩1,959 to ₩12,700.
• The fair value model gives a base of ₩2,137, a bear case of ₩571 and a bull case of ₩4,861; these are model outputs, not forecasts.
• Recent filings are routine (half-year report in August 2026, AGM results and director appointments in March), and no news headlines were provided.

What to watch

• The next quarterly or annual results, to see whether the thin 1.6% operating margin and negative free cash flow improve.
• Any further filings on capital, borrowings or governance, given the high liabilities-to-equity ratio.
• Foreign ownership is 4.5%, slightly down over 60 days, and the data does not explain the cause.