INNOX Advanced Materials이녹스첨단소재

INNOX Advanced Materials remains profitable on a trailing basis, but its earnings and share price have fallen sharply from prior levels.

Trailing twelve-month revenue to H1 2026 is about ₩418.9B with operating income of about ₩60.6B (14.5% margin), down from a 20.5% margin in 2024. The share price closed at ₩20,300 on 2026-10-13, down 16.8% over one year and well below its 52-week high of ₩44,400. The company profile and news headlines were not provided in the data.

What stands out

• Annual operating margin fell from 20.5% in 2024 to 18.6% in 2025, and the trailing figure to H1 2026 is 14.5%.
• Trailing free cash flow is negative at about -₩80.0B, while borrowings (₩207.1B) exceed cash (₩184.5B).
• Liabilities are 109.2% of equity, a relatively high leverage level.
• Trailing P/E is 6.7 and P/B is 0.9, against a DCF base fair value of ₩19,845, close to the current price (the model is an estimate, not a forecast).
• Recent filings include a half-year report (Aug 2026), a debt guarantee decision for another party (Aug 2026), and several 5%+ holding reports, but their contents are not in the data.

What to watch

• Next quarterly and half-year results, to see whether the margin decline from 2024 continues.
• Cash flow and debt levels, given negative trailing free cash flow and borrowings above cash.
• The debt guarantee decision for another party filed 2026-08-13, which the data does not explain in detail.