Boryung Corp

Boryung Corp maintains a relatively strong liquidity position, with a current ratio of 1.7, indicating the company can cover its short-term liabilities with its short-term assets. However, the company's net cash position is negative after subtracting total debt, which raises some liquidity concerns. The company's cash and equivalents amount to 26.5 billion KRW, while its long-term debt stands at 205.8 billion KRW, resulting in a debt-to-equity ratio of 0.35.

In terms of profitability, Boryung Corp's return on equity (ROE) is 4.01%, and its return on assets (ROA) is 2.3%. These figures are below the typical thresholds for high-performing pharmaceutical firms, suggesting that the company is not generating exceptional returns relative to its equity and asset base. The company's operating income of 20.4 billion KRW and net income of 23.6 billion KRW reflect a solid but not outstanding performance in a competitive industry.

Boryung Corp's revenue is concentrated in a single business segment, as disclosed in its financial reports, with no material geographic diversification beyond South Korea. This concentration increases the company's exposure to domestic economic and regulatory shifts, which could impact its revenue stability and growth potential.

The company's growth trajectory appears modest, with no significant revenue growth reported in the latest financial period. Analysts have set a uniform price target of 12,000 KRW, with the last actual revenue at 1.02 trillion KRW. The lack of a clear upward trend in revenue, combined with the company's limited geographic and product diversification, suggests that Boryung Corp may face challenges in sustaining high growth rates in the near term.

Risk factors for Boryung Corp include its relatively high debt load compared to its cash reserves and the lack of diversification in its revenue streams. The company's liquidity risk is rated as medium, and while dilution risk is currently low, the potential for future dilution exists if the company needs to raise additional capital to fund operations or expansion. The company's capital structure and financial flexibility will be critical in determining its ability to navigate industry headwinds and capitalize on growth opportunities.

Recent filings and transcripts indicate that Boryung Corp has not disclosed any major strategic shifts or new product launches in the latest reporting period. The company's focus remains on its core pharmaceutical business, with no significant investments in research and development or new market entry. This suggests a conservative approach to growth, which may limit its ability to respond to changing market conditions or competitive pressures.

Boryung Corp (003850.KS) has been formally classified within the Healthcare economic sector, specifically under the Pharmaceuticals & Medical Research activity. This taxonomic update provides a clearer definition of the company’s operational focus, aligning its market identity with its core business functions in the medical research space. Alongside this sectoral clarification, the company’s risk profile has been updated with new assessments. Dilution risk is now rated as low, indicating a stable capital structure with minimal threat of share value erosion from new issuances. Conversely, liquidity risk has been assessed at a medium level, suggesting that while the company maintains operational stability, investors should monitor its short-term cash flow dynamics and market trading conditions. These structural updates occur within a context of limited external coverage. The company currently has no index memberships and no reported top holders, which may contribute to the medium liquidity risk assessment. Additionally, there are no officers listed in the current profile, and analyst coverage remains sparse, with only two analysts tracking the stock. The establishment of these baseline metrics—sector classification, low dilution risk, and medium liquidity risk—provides a foundational framework for evaluating Boryung Corp. For investors, the low dilution risk offers reassurance regarding equity preservation, while the medium liquidity rating highlights the need for careful entry and exit strategies in a less liquid market environment.

Revenue grew at a 12.9% CAGR over four years, demonstrating strong top-line expansion momentum.

Analysts project 45.5% upside to a consensus price target of 12,000 KRW from current levels.

Cash conversion ratio of 1.82 is nearly double the 0.95 cohort median, showing strong cash generation.

Long-term debt surged to 330 billion KRW in FY2026, a significant increase from 168 billion KRW.

The company faces high credit risk, signaling potential difficulties in meeting financial obligations.

Debt-to-equity ratio of 0.35 is nearly double the 0.18 cohort median, indicating higher leverage.

Revenue KRW 255.35B, +6,2% YoY; Operating income +116,7% YoY.

• ▍Revenue KRW 255.35B, +6,2% YoY
• ▍Operating income +116,7% YoY
• ▍Net income +11 762,4% YoY
• ▍Free cash flow +888,3% YoY
• ▍Net margin 16.2%

Revenue KRW 245.35B, −4,5% YoY; Operating income −112,5% YoY.

• ▍Revenue KRW 245.35B, −4,5% YoY
• ▍Operating income −112,5% YoY
• ▍Net income +59,4% YoY
• ▍Free cash flow +32,9% YoY
• ▍Net margin 8.6%

Revenue KRW 280.01B, +3,3% YoY; Operating income +51,3% YoY.

• ▍Revenue KRW 280.01B, +3,3% YoY
• ▍Operating income +51,3% YoY
• ▍Net income +263,5% YoY
• ▍Free cash flow +143,1% YoY
• ▍Net margin 12.1%

Revenue KRW 251.52B, −1,6% YoY; Operating income +24,7% YoY.

• ▍Revenue KRW 251.52B, −1,6% YoY
• ▍Operating income +24,7% YoY
• ▍Net income −62,5% YoY
• ▍Free cash flow −72,9% YoY
• ▍Net margin 3.5%

Revenue KRW 240.55B; Operating income KRW 12.62B.

• ▍Revenue KRW 240.55B
• ▍Operating income KRW 12.62B
• ▍Net margin 0.1%

Revenue KRW 256.91B; Operating income KRW 8.25B.

• ▍Revenue KRW 256.91B
• ▍Operating income KRW 8.25B
• ▍Net margin 5.2%

Revenue KRW 271.03B; Operating income KRW 19.45B.

• ▍Revenue KRW 271.03B
• ▍Operating income KRW 19.45B
• ▍Net margin 3.5%

Revenue KRW 255.56B; Operating income KRW 20.38B.

• ▍Revenue KRW 255.56B
• ▍Operating income KRW 20.38B
• ▍Net margin 9.3%

Revenue KRW 1.02T, +0,0% YoY; Operating income +3,1% YoY.

• ▍Revenue KRW 1.02T, +0,0% YoY
• ▍Operating income +3,1% YoY
• ▍Net income −7,7% YoY
• ▍Free cash flow −18,9% YoY
• ▍Net margin 6.3%

Revenue KRW 1.02T, +18,3% YoY; Operating income −5,6% YoY.

• ▍Revenue KRW 1.02T, +18,3% YoY
• ▍Operating income −5,6% YoY
• ▍Net income +73,2% YoY
• ▍Free cash flow +56,7% YoY
• ▍Net margin 6.8%

Revenue KRW 859.63B, +13,0% YoY; Operating income +24,1% YoY.

• ▍Revenue KRW 859.63B, +13,0% YoY
• ▍Operating income +24,1% YoY
• ▍Net income −4,0% YoY
• ▍Free cash flow +209,3% YoY
• ▍Net margin 4.7%

Revenue KRW 760.48B, +21,2% YoY; Operating income +32,7% YoY.

• ▍Revenue KRW 760.48B, +21,2% YoY
• ▍Operating income +32,7% YoY
• ▍Net income −2,7% YoY
• ▍Free cash flow −540,2% YoY
• ▍Net margin 5.5%