S.Biomedics에스바이오메딕스

S.Biomedics remains deeply loss-making, with heavy losses, rising liabilities and repeated convertible bond and share issuance activity in 2026.

S.Biomedics reported trailing twelve-month revenue of about ₩16.5B to H1 2026, but operating losses of about ₩11.3B and net losses of about ₩12.1B, with free cash flow of about -₩10.9B against cash of about ₩39.7B. The share price is ₩20,400, down 26.1% over one year and well below its 52-week high of ₩42,600, though up 14.5% over three months.

What stands out

• Revenue has grown from about ₩13.1B in 2023 to ₩16.5B in 2025, but losses have not narrowed: 2025 operating margin was -50.4% and net loss about ₩8.1B.
• Liabilities are 92.3% of equity and ROE is -57.1% on a trailing basis, so the balance sheet is stretched relative to earnings.
• Filings in April and August 2026 include rights offering, convertible bond and conversion price adjustment items, which point to ongoing financing needs and possible dilution.
• Valuation metrics are high for a loss-making firm: price-to-book is 8.4 and price-to-sales is 15.4, while P/E is not meaningful due to losses.
• The data contains no recent company news headlines, no analyst ratings and no forecasts.

What to watch

• Next quarterly and annual results, to see whether operating losses and free cash flow are narrowing from current levels.
• Further convertible bond, rights offering or share issuance filings, and any conversion price adjustments that could dilute existing holders.
• Insider and 5%+ holder filings, given recent reports in August 2026; the data does not say what they indicate.