Temc CNS티이엠씨씨엔에스

Temc CNS has returned to a small net profit on trailing numbers, but it still runs an operating loss and revenue has been shrinking.

Temc CNS supplies specialty chemicals, gases and semiconductor and battery supply equipment, mainly to chipmakers and battery plants in Korea. Trailing revenue to H1 2026 is about ₩162B, with an operating loss of about ₩1.5B and a small net profit of about ₩1.4B, helped by non-operating items the data does not break down. The shares closed at ₩6,400, well below the 52-week high of ₩9,800 but up 34.7% over three months.

What stands out

• Revenue fell 13.2% in 2025 to ₩168B after a 37.9% rise in 2024, and operating margin has declined from 17.1% in 2021 to a trailing -1%.
• Trailing free cash flow is about ₩10.8B and cash is about ₩25.3B against borrowings of ₩32.2B, so the balance sheet is moderately levered with liabilities at 70% of equity.
• Trailing P/E is about 45x while P/B is 0.6x, and the data's DCF base value is ₩13,959, bear ₩7,047 and bull ₩26,290; these are model outputs, not forecasts.
• Recent filings include a buyback trust contract signed on 31 August 2026, a major sales or supply contract on 26 June 2026, and several insider shareholding reports.
• Foreign ownership rose from 2.4% to 2.9% over 60 days, while retail investors were net sellers over the last 20 days; no recent news headlines are in the data.

What to watch

• The next filings for the year-end 2026 results, to see whether the operating loss turns back into a profit.
• Progress on the buyback trust and whether the company's shares are repurchased, as the filing titles do not give the size.
• Customer concentration and demand from semiconductor and battery makers, which the data does not quantify.