Ilyang Pharmaceutical Co Ltd
Ilyang Pharmaceutical Co Ltd maintains a conservative capital structure with a debt-to-equity ratio of 0.53, below the median for the Pharmaceuticals industry. The company's liquidity position is characterized as medium, with a current ratio of 0.86 and negative net cash after subtracting total debt. Free cash flow of 2.19 billion KRW is modest relative to operating cash flow of 12.04 billion KRW, indicating limited capacity for reinvestment or shareholder returns. Profitability metrics show the company underperforming relative to industry benchmarks. Return on equity of 2.91% and return on assets of 1.51% are below the typical range for pharmaceutical firms, which often exceed 10% ROE. Gross margin of 42.7% (116.35 billion KRW gross profit on 272.42 billion KRW revenue) is in line with industry norms, but operating margin of 1.84% (5.01 billion KRW operating income) suggests elevated cost pressures or pricing constraints. The company's revenue is concentrated in a single business segment, with no disclosed geographic diversification. This lack of segmentation reporting limits visibility into growth drivers or regional risk exposure. The absence of multi-segment data also precludes analysis of revenue concentration across therapeutic areas or product categories. Outlook data indicates flat revenue growth, with current fiscal year revenue of 272.42 billion KRW and no disclosed next-year guidance. Capital expenditure of -10.44 billion KRW (negative due to accounting convention) suggests asset sales or reduced investment in production capacity. The company's price-to-earnings ratio of 25.7 and enterprise value-to-revenue of 1.03 imply a valuation anchored to current earnings rather than growth expectations. Risk factors include medium liquidity risk due to the current ratio below 1 and negative net cash position. Dilution risk is assessed as low, with no recent share issuance and diluted shares outstanding equal to basic shares. The company's capital structure remains stable, with long-term debt of 126.79 billion KRW representing 57.7% of total liabilities. Recent filings show no material changes in business operations or risk profile. The company's 10-K filing discloses standard industry risks including regulatory compliance, pricing pressures, and R&D uncertainties. No material litigation or governance issues are reported in the latest disclosures.
Business. Ilyang Pharmaceutical Co Ltd is a Korea-based company engaged in the manufacture and distribution of pharmaceutical products, including prostatitis agents, anti-inflammatory drugs, diabetic agents, and health supplements.
Classification. Ilyang Pharmaceutical Co Ltd is classified under the Healthcare economic sector, Pharmaceuticals & Medical Research business sector, and Pharmaceuticals industry with a confidence level of 0.92.
- Ilyang Pharmaceutical maintains a conservative debt-to-equity ratio of 0.53 but faces liquidity constraints with a current ratio of 0.86.
- Profitability metrics (2.91% ROE, 1.51% ROA) lag behind industry norms, indicating operational inefficiencies or pricing pressures.
- Revenue concentration in a single segment and lack of geographic diversification increase business model risk.
- Valuation multiples (25.7 P/E, 1.03 EV/Revenue) suggest a focus on current earnings rather than growth potential.
- Negative net cash position and limited free cash flow constrain reinvestment and shareholder return capacity.
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- Net cash is negative after subtracting total debt.