Green Resource그린리소스

Green Resource's share price has fallen sharply over the past year, while recent filings show heavy use of convertible bonds and a planned rights offering.

Green Resource makes protective coatings and cleaning services for semiconductor and display equipment parts. Trailing twelve-month revenue to H1 2026 was about ₩91.8B with a 7.8% operating margin, and the company reported negative free cash flow of about ₩17.9B. The share price closed at ₩6,280 on 2026-10-16, down 28.1% over one year and well below its 52-week high of ₩24,850.

What stands out

• Revenue jumped in 2025 to ₩102.2B from ₩18.5B in 2024, but the data does not explain what drove this sharp increase, and 2024 and 2025 figures may not be directly comparable.
• Trailing operating margin is 7.8% and net margin is 9.6%, but net income is higher than operating income, so non-operating items likely contributed; the data does not break this down.
• Liabilities are 105.6% of equity and free cash flow is negative at about ₩17.9B, although the company reports cash of about ₩7.8B against borrowings of about ₩971M.
• Filings since June 2026 include convertible bond and bond-with-warrants issues, plus a July 2026 rights offering decision, which could dilute existing shareholders depending on terms not included in the data.
• Valuation metrics show a P/E of about 12 and P/B of 1.2, with no dividend; the data does not include analyst ratings or price targets.

What to watch

• The outcome and terms of the rights offering and the convertible and warrant bonds, including any dilution to existing shares.
• Upcoming quarterly or annual results, to see whether the 2025 revenue level holds and whether free cash flow turns positive.
• The collateral provided for a third party disclosed on 2026-07-30, which the data does not explain in detail.