Mecaro메카로

Mecaro reported a sharp profit recovery over the last year, but its shares have fallen 16% over the past month.

Mecaro makes semiconductor parts, mainly metal heater blocks for chip manufacturing chambers, with customers including Samsung Electronics and SK hynix. On a trailing twelve-month basis to H1 2026 it reported revenue of ₩101B... corrected: ₩101B is shown as ₩101B in the data; revenue is ₩101B, operating income ₩17B and net income ₩15B, with low leverage and ₩24B in cash. The shares closed at ₩33,850 on 2026-10-29, well below the 52-week high of ₩48,000 but up 20.5% over one year.

What stands out

• Revenue rose from ₩62.9B in 2024 to ₩94.6B in 2025, and trailing figures to H1 2026 are higher still at ₩101B.
• Operating margin was 17.1% on a trailing basis, versus 6.6% in 2024 and a loss in 2023, showing a strong recovery.
• Liabilities are 8.7% of equity and borrowings are small at about ₩0.5B, while cash is about ₩24B.
• The company's DCF-based fair value model gives a base value of ₩6,806, well below the current price, and bull and bear values of ₩12,101 and ₩3,962; this model is a mechanical estimate, not a forecast.
• Valuation is 23x earnings and 1.6x book, above several listed peers such as DB HiTek and Hana Micron on earnings multiples.
• Over the last 20 days, retail investors were net buyers, while foreign and institutional investors were net sellers; foreign ownership rose from 2.4% to 3.3% over 60 days.

What to watch

• A treasury share sale decision was filed on 2026-10-26; the size and terms of the sale are not described in the data provided.
• Several 5%+ holding reports were filed between August and October 2026; the data does not explain the changes behind them.
• The data does not include a forecast for upcoming results, and the company's subsidiary solar cell plans are described only as in preparation.