Hyosung TNC효성티앤씨

Hyosung TNC's trailing profits have shrunk sharply from 2021 and the shares have fallen about 20% over the past month, though the business still generates revenue of roughly ₩8.4T.

Hyosung TNC makes spandex and nylon and polyester yarns, plus runs steel, chemical and NF3 gas trading, selling through direct, local and export channels with plants across Asia, Turkey, India and Brazil. Trailing twelve-month revenue to H1 2026 was ₩8.36T with a 4.5% operating margin and a 1.3% net margin, well below the 2021 peak. The share price closed at ₩247,500, down 23.7% over three months but up 12.5% over one year.

What stands out

• Operating income for the trailing twelve months to H1 2026 was ₩376B, up from ₩252B in 2025 but far below the ₩1.42T recorded in 2021.
• Net income for 2025 was only ₩10.8B, compared with ₩770B in 2021, and debt is high at 188% of equity with ₩2.34T in borrowings.
• Trailing free cash flow of ₩190B and cash of ₩107B are reported, while the data gives a 4.1% dividend yield at the current price.
• The data gives a DCF-based fair value of ₩484,359 (base case), which sits well above the current price; the bear case shows ₩0 and the bull case ₩2.6M, a very wide range that reflects model assumptions rather than a forecast.
• Foreign ownership rose from 19.4% to 21.4% over about 60 days, while institutions were net sellers of about ₩13.9B over the last 20 trading days.

What to watch

• The full-year 2026 results and the next half-year or quarterly reports, which will show whether the recent margin recovery holds.
• Debt levels: borrowings of ₩2.34T against ₩107B of cash are a key risk named by the data's leverage figures.
• Further insider shareholding and executive trading filings, plus news on the planned expansion into the Americas market through partner Kolon Touch.