Cmtx씨엠티엑스

Cmtx shows strong trailing profitability, but its shares have fallen sharply over the past month and quarter.

Cmtx, a KOSDAQ-listed maker of precision silicon, ceramic and sapphire parts for semiconductor etching equipment, reported trailing twelve-month revenue of ₩175B with a 31.1% operating margin and ₩42.5B net income to H1 2026. The share price closed at ₩61,400 on 2026-10-23, down 30.6% over one month and 23.5% over three months, and sits well below its 52-week high of ₩170,300. Its 2025 annual filing showed a net loss of ₩25.1B despite ₩51.8B operating income, and the data does not explain the gap.

What stands out

• Trailing operating margin is 31.1% and net margin is 24.3%, with free cash flow of ₩31.6B and cash of ₩79.3B against borrowings of ₩27.5B.
• At ₩61,400 the stock trades at about 13.9 times trailing earnings and 2.9 times book value, with no dividend.
• The company's fair value model gives a base value of ₩81,769, with a bear case of ₩58,332 and a bull case of ₩118,844; these are model outputs, not forecasts.
• Foreign ownership rose slightly to 7% from 6.7% over 60 days, while retail investors were net buyers over the last 20 days and foreign and institutional investors were net sellers.
• Filings include a half-year report for June 2026 and an amended version the same day, plus a 5%+ holding report on 2026-10-08; the data does not say what the amendment changed.

What to watch

• Next results and any explanation of the 2025 net loss versus operating profit; the data does not include a forward earnings date.
• Customer concentration and demand for semiconductor etching consumables, which the company profile identifies as its main revenue driver; the data does not quantify either.
• Further 5%+ holding reports and foreign ownership changes, given recent share price weakness.