Actro액트로

Actro's revenue is near record levels, but thin margins and negative free cash flow leave profitability fragile as the shares have fallen sharply over the past month.

Actro makes camera module actuators for smartphones and automation equipment for camera module production, with plants in Yongin and Vietnam. Trailing twelve-month revenue to H1 2026 was about ₩234.8B, with operating income of ₩3.8B and net income of ₩11.9B, so earnings are small relative to sales. The shares closed at ₩9,100 on 2026-10-23, down 26.9% over one month but up 70.4% over one year.

What stands out

• Revenue in 2025 was ₩244.9B, up 20.6%, but operating margin fell to 2.7% in 2025 from 1.2% in 2024 and remains thin at 1.6% on a trailing basis.
• Trailing net income of ₩11.9B is well above operating income, so non-operating or one-off items likely contributed; the data does not break this down.
• Trailing free cash flow was negative at about -₩9.9B, and cash of ₩35.6B is shown with no borrowings reported.
• Valuation metrics are modest: P/E of 7.7, P/B of 1.1, and a 1.1% dividend yield, while the DCF base value of ₩4,184 sits well below the current price.
• Foreign ownership fell to 11.4% from 14.8% over about 60 days, and foreign investors were net sellers over the last 20 days.

What to watch

• The next half-year or quarterly filings, to see whether operating margins hold above the trailing 1.6% and free cash flow turns positive.
• The pending share cancellation decision from October 2026 and its effect on the share count of about 10.1M shares.
• Customer concentration: the profile says the company supplies a major strategic customer as a first-tier vendor, and the data does not give revenue share or contract details.