Woosung Co Ltd

Woosung maintains a debt-to-equity ratio of 0.71 and a current ratio of 1.35, indicating moderate leverage and acceptable short-term liquidity. The company holds KRW 60.7 billion in cash and equivalents, but this is offset by KRW 150.2 billion in long-term debt, resulting in a net cash deficit of KRW 89.5 billion. Free cash flow of KRW 19.9 billion in the latest period suggests limited capacity to service debt or fund growth without external financing. Profitability metrics show a return on equity of 6.09% and return on assets of 2.8%, both below the median for the Food Products industry, which typically reports ROE of 8-10% and ROA of 4-6%. Operating income of KRW 19.4 billion and net income of KRW 12.9 billion reflect a 31.6% operating margin and 21.1% net margin, which are in line with the industry’s lower quartile. The company’s revenue is concentrated in its core formula feeds business, with no disclosed geographic diversification beyond South Korea. This lack of geographic segmentation increases exposure to local economic and regulatory shifts. No material revenue is attributed to non-core activities such as rentals or other services. Revenue of KRW 613.0 billion in the latest period represents a 12.3% year-over-year increase, driven by higher demand in livestock and aquaculture feed segments. Analysts estimate revenue will grow by 8.7% in the next fiscal year, with operating income expected to expand by 5.2%. Risk factors include a net cash deficit and moderate liquidity, which could constrain operational flexibility. The company has not disclosed any dilutive events in the past 12 months, and shares outstanding remain unchanged at 2.57 million for both basic and diluted shares. Recent filings and transcripts highlight cost management and feed raw material price volatility as key operational challenges. The company has not issued new shares or announced capital-raising plans in the past six months.