SuNAM서남

SuNAM remains deeply loss-making on trailing results, with its share price down 12.2% over the past month but up 3.5% over the year.

SuNAM makes high-temperature superconducting wire and related equipment, with export sales a large share of revenue. Trailing revenue to H1 2026 was about ₩3.6B against an operating loss of about ₩4.5B, and cash of about ₩2.3B is shown with no borrowings reported. The data shows a recent major sales contract filing but no details of its size or customers.

What stands out

• Trailing operating margin is -122.4% and net margin is -122.7%, so the business is far from profitable on these figures.
• Revenue swung sharply: 2025 revenue rose 140.9% to about ₩3.4B after a 78% fall in 2024, and losses have been large in most years shown.
• Shares closed at ₩2,845, well above the 52-week low of ₩2,295 but far below the 52-week high of ₩7,150.
• The company filed major sales or supply contracts on 2026-07-14 and 2026-09-04, but the data does not give their value or terms.
• Foreign ownership rose from 0% to 0.8% over the last 60 days, while retail investors were net sellers over the last 20 days.

What to watch

• Next quarterly and annual filings, to see whether revenue from the recent contracts converts into narrower losses.
• Whether the company's cash of about ₩2.3B covers its operating losses, given the data shows no free cash flow figure.
• The DCF fair value range of ₩254 to ₩477 per share sits far below the current price of ₩2,845, a gap the data does not explain.