Hyosung Chemical효성화학

Hyosung Chemical is back to small profits on a trailing basis after heavy losses, but its shares have fallen sharply and debt remains high.

Trailing twelve-month revenue to H1 2026 was about ₩2.61T with operating income of ₩72B and net income of ₩28B, after operating losses in 2022 through 2025. Free cash flow was negative at about -₩127B, and borrowings of ₩1.51T sit against ₩85B of cash. The share price closed at ₩44,500 on 2026-10-23, down 42.8% over one year and well below its 52-week high of ₩87,500.

What stands out

• Trailing operating margin is 2.7% and net margin 1.1%, a thin recovery from an operating margin of -6.9% in 2025.
• Reported 2025 net income of ₩393B was positive despite an operating loss of ₩161B, so the figure is not explained by operations in the data provided.
• Liabilities are 193.1% of equity, and the data shows borrowings far above cash.
• Valuation metrics are low: P/E 6.1, P/B 0.2, and no dividend yield.
• Recent filings are mostly debt guarantees for other parties and shareholding reports; the one news item covers a trade show push into Europe with plastics products.

What to watch

• Next quarterly results, to see whether the thin operating profit holds and free cash flow turns positive.
• Further 'Decision on Guarantee of Debt for Another Party' filings, which add contingent obligations; the data does not give their amounts.
• The company has announced an end to production in its TPA business unit; the data does not describe its financial effect.