Samyang Packaging makes PET (polyethylene terephthalate) bottles and packaging for beverages. Its core capability is aseptic filling, which packages products hygienically with minimal heat and is widely used for tea, coffee, and bottled water; the company earns money by manufacturing the containers and filling them so that beverage companies can safely bottle their own brands. In March 2026 it made a voluntary disclosure of a value-up plan, in February it reported full-year results (revenue of ₩420.2 billion, operating profit of ₩24.6 billion, net profit of ₩17.7 billion), and in January it filed a correction disclosing a partial delay to a new facility investment. What stands out lately is that a P/B of 0.31x, a P/E of 6.7x, a dividend yield in the 6% range, and a solid balance sheet with a debt ratio under 100% are clear strengths, but revenue and profit have softened over the past year or two, and the first quarter tends to run a loss because it falls in the beverage off-season; whether peak-season results recover and whether the value-up plan is actually executed will determine how the undervaluation plays out.
At-a-glance assessment financial health · growth · profitability · valuation
- Assets that can be turned to cash within a year fall short of near-term liabilities (current ratio 76.5%).
- Revenue fell 6.2% year over year (3-year trend: mixed).
- Most recent quarter (Q1 2026) revenue was 1.4% higher than a year earlier.
- ROE is 4.6% (controlling-interest basis). It is below the sector average.
- Operating margin is 5.9%.
- The P/E sits below the sector median.
Ownership & governance As of 2025-12-31
Largest shareholder Samyang Corporation 72.72% (corporate)
Controlling bloc incl. related parties 72.72%
With the controlling bloc holding 73%, control is very secure but the free float is thin.
🔎 In-depth analysis
- Samyang Packaging makes PET (polyethylene terephthalate) bottles and packaging for beverages.
- Its core business is filling PET bottles with product using an aseptic method, which lets it package beverages hygienically with minimal heat and is therefore widely used for products such as tea, coffee, and bottled water.
- In other words, it earns money by making the containers and handling the filling so that beverage companies can safely bottle their own branded drinks.
- With a market capitalization of ₩119.0 billion it is a relatively small-cap name, so it is worth watching not only the flow of the business itself but also how a single disclosure on facility investment or fundraising can affect both results and the share count.
- The latest closing price is ₩8,540 and the market cap is ₩128.7 billion.
- The price sits below its 20-day line (₩8,605) and below its 60-day line (₩9,972).
- Trading below both its short- and mid-term moving averages, the trend looks subdued.
- The RSI (a supplementary gauge that compares upward versus downward strength over the last 14 days on a 0-100 scale) is 42.5, a neutral level.
- The one-month change is -2.9%, the three-month change is -25.7%, and the position relative to the 52-week high is -44.1%.
- Relative strength versus the KOSPI is 5 (on a 1-99 scale that converts return against the index over the past year, weighting more recent performance more heavily; higher means stronger than the market).
- That places it in roughly the top 96% by strength among all stocks.
- Over the past three months it has trailed the index by 40.2%.
- Chart reading is best done alongside trading volume and the dates disclosures occurred.
- Recent annual revenue is ₩420.2 billion, operating profit ₩24.6 billion, and net profit ₩17.7 billion.
- The operating margin is 5.9%, ROE (how much is earned in a year on shareholders' equity) is 4.6%, and the debt ratio (debt against equity) is 68.2%.
- With a debt ratio below 100%, the debt burden itself is not heavy, and an interest coverage ratio of 3.3x means operating profit comfortably covers interest.
- What stands out most is the valuation.
- The P/E ratio (how many times a year's profit the share price is) is 6.7x and the P/B (how many times book value the share price is) is 0.31x, both below the median of the peer set.
- A P/B of 0.31x means the share price is set at about one-third of the company's net assets, a signal that it trades quite cheaply relative to asset value.
- On the diagnosis, the valuation reads as undervalued.
- Revenue moved within the ₩420 billion range, at ₩421.7 billion in 2023, ₩448.1 billion in 2024, and ₩420.2 billion in 2025, while operating profit fell to ₩24.6 billion in 2025 from ₩33.8 billion the year before.
- Because beverage packaging is a business whose results are affected by raw-material (PET resin) prices and peak-season beverage demand, the recent softening in profit reads as a phase in which cost pressure and demand are taking a breather.
- In the first quarter of 2026, revenue rose 1.4% year over year to ₩93.3 billion, so the top line recovered slightly, while Q1 operating profit of ₩0.5 billion and a net loss of ₩1.3 billion can be seen as reflecting the winter beverage off-season.
- Beverage packaging has a pronounced seasonality in which results are concentrated in the second and third quarters when the heat sets in, so rather than judging the whole year from Q1 figures alone, it makes sense to also watch how much the peak-season quarters recover.
- Annual revenue is settling back into the low ₩400 billion range.
- On March 25, 2026, the company itself made a voluntary disclosure of a value-up plan.
- Since it is a planning document in which the company states its intent to lift value, it is worth checking the original text for whether it contains concrete figures such as dividends or share buybacks.
- On February 3, 2026, it disclosed full-year results by voluntary disclosure, giving the outline of confirmed results at revenue of ₩420.2 billion, operating profit of ₩24.6 billion, and net profit of ₩17.7 billion.
- On January 13, 2026, there was a correction disclosing a partial delay to a new facility investment.
- Because a change to the investment schedule is a clue to the pace of business expansion, it is worth following subsequent disclosures for when the delayed investment resumes.
- Overall, the company shares results, plans, and investments fairly frequently, which makes the flow relatively easy to follow.
- Samyang Packaging's clearest strength is its price appeal.
- At a P/B of 0.31x and a P/E of 6.7x, the share price sits low relative to assets and profit, and with a dividend yield in the 6% range, investors are compensated by dividends while they wait.
- With a debt ratio below 100% and interest amply covered by operating profit, the financial foundation is also solid.
- On the other hand, one should account for the fact that revenue and profit have softened over the past year or two and that the first quarter, the beverage off-season, tends to run a loss.
- In short, the undervaluation can stand out more when peak-season results recover and the value-up plan is followed through with execution such as dividends or buybacks; conversely, if cost pressure lingers or facility-investment delays accumulate, the profit recovery could be pushed back.
- Holding the cheapness and the softening side by side makes the picture clear.
🔎 Valuation vs peers Undervalued
Compared against a peer set of adjacent market caps within rubber and plastics.
| Peer | P/E | P/B | ROE |
|---|---|---|---|
| KX Hitec | 19.55x | 0.65x | 3.31% |
| Jinyang Holdings | 10.58x | 0.51x | 4.84% |
| Baiksan | 5.90x | 0.76x | 12.95% |
We looked first at a public-data peer set of adjacent market caps within rubber and plastics. The current P/E (how many times a year's profit the share price is) is 7.29x and the P/B (how many times book value the share price is) is 0.33x. That said, for smaller-cap names, profit swings and fundraising disclosures carry more weight, so we did not draw firm conclusions from last year's confirmed-results metrics alone. The basis for the outlook box is a DART seasonality approximation.
Earnings outlook company-stated · verified
| Type | Period | Revenue | Operating profit | Net profit |
|---|---|---|---|---|
| This year | 2026 | ₩419.4 billion | — | — |
| Next quarter | Q2 2026 | ₩119.2 billion | — | — |
Price history Close · MA20 · MA60
The latest close is ₩8,540 and the market capitalization is ₩128.7 billion. The price sits below its 20-day moving average (₩8,605) and below its 60-day moving average (₩9,972). It is under both its short- and medium-term moving averages, so the trend looks subdued. The RSI (a supplementary indicator that gauges the strength of gains versus losses over the past 14 days on a 0-100 scale) is 42.5, a neutral level. The one-month change is -2.9%, the three-month change is -25.7%, and the position relative to the 52-week high is -44.1%. Relative strength versus the KOSPI is 5 (on a 1-99 scale, converted from returns against the index over the past year with more weight on recent performance; higher means stronger than the market). It is stronger than roughly 4% of all stocks. Over the past three months it lagged the index by 40.2%. Chart interpretation is best done alongside trading volume and the dates on which disclosures occur.
Relative performance stock vs index · start = 100
Excess return vs index · 3M -40.20% / 6M -59.76% / 12M -74.74%
Key metrics vs sector median
Valuation
The P/E of 7.29x is below the sector median (12.90x). The P/B of 0.33x is below the sector median (0.75x). Both metrics are low versus peers, so the price is not expensive relative to earnings and assets.
Enterprise value (EV)
EV = market cap + net debt. It reflects cash and debt, so it captures the real cost of the whole business that market cap alone misses; lower multiples are cheaper relative to earnings or sales.
Profitability & financials
Return on equity (ROE) is 4.6%, below the sector average (6.0%). The operating margin is 5.9%. The debt ratio is 68.2%, so the financial structure is stable.
Growth FY2025 · annual report (consolidated)
| Item | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|
| Revenue | $279.5M | $297.0M | $278.5M | -6.22% ↓ slower |
| Operating profit | $21.5M | $22.4M | $16.3M | -26.99% ↓ slower |
| Net profit | $16.9M | $13.5M | $11.7M | -13.61% ↑ faster |
| 5-year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $259.8M | $270.0M | $279.5M | $297.0M | $278.5M |
| Operating profit | $30.6M | $15.7M | $21.5M | $22.4M | $16.3M |
| Net profit | $20.1M | $8.0M | $16.9M | $13.5M | $11.7M |
| Revenue CAGR | 4-yr avg 1.76% | ||||
Revenue fell 6.2% year over year (2023 ₩421.7 billion → 2024 ₩448.1 billion → 2025 ₩420.2 billion), and the three-year trend is 'mixed'. The rate of decline widened from the prior year. Operating profit fell 27.0% year over year. The decline widened. Over the 5 years on record, revenue compound annual growth (CAGR) is 1.8%. The two-year revenue CAGR is -0.2%. In the most recent quarter (Q1 2026), revenue was 1.4% higher than the same period a year earlier.
Latest quarterly results Q1 2026 · vs year-ago
Technical indicators
What stands out
- P/E and P/B are both low versus peers, so the price looks inexpensive relative to earnings and assets.
- The dividend yield, at 5.9%, is on the high side.
Points to watch
- Revenue fell 6.2% year over year (3-year trend: mixed).
Recent news & events searched · sourced
- 2026-03-25UpdateValue-up plan (voluntary disclosure): check the original company planThis is a planning document presented directly by the company. If it contains figures, treat them as the primary basis for the outlook box; if not, treat it only as directional material. Source
- 2026-02-03EarningsChange of less than 30% (15% for large corporations) in revenue or profit structure (voluntary disclosure): annual revenue ₩420.2 billion, operating profit ₩24.6 billion, net profit ₩17.7 billionThis is recent confirmed or preliminary results. Check whether it points in the same direction as the annual trend and whether any one-off factors are present. Source
- 2026-01-13Update[Correction] New facility investment, etc.: New facility investment, etc./(2026.01.13) correction filing of new facility investment, correction date 2026-01-13. 1. Related disclosure document: new facility investment, etc. 2. Filing date of related disclosure document: 2026-01-13. 3. Reason for correction: correction filing due to delay of new facility investment. 4. Corrected items: item / before / after. 4. Investment period, start date 2This is a planning document presented directly by the company. If it contains figures, treat them as the primary basis for the outlook box; if not, treat it only as directional material. Source
Figure cross-check computed ↔ external
| Metric | Computed | External | Status | Source |
|---|---|---|---|---|
| Closing price | ₩8,540 | ₩8,540 | Confirmed | link |
| Latest quarterly results | revenue ₩93.3 billion, operating profit ₩0.5 billion | revenue ₩93.3 billion, operating profit ₩0.5 billion | Confirmed | link |
| Annual results | revenue ₩420.2 billion, operating profit ₩24.6 billion | revenue ₩420.2 billion, operating profit ₩24.6 billion | Confirmed | link |
| Outlook/plan disclosure original text | : | : | Confirmed | link |
| Results disclosure original text | revenue30%: revenue ₩420.2 billion · operating profit ₩24.6 billion · net profit ₩17.7 billion | revenue30%: revenue ₩420.2 billion · operating profit ₩24.6 billion · net profit ₩17.7 billion | Confirmed | link |
| Outlook/plan disclosure original text | []: /(2026.01.13) 2026-01-13 1. 2. 2026-01-13 3. 4. 4. 2 | []: /(2026.01.13) 2026-01-13 1. 2. 2026-01-13 3. 4. 4. 2 | Confirmed | link |
| Outlook box basis | DART | DART | Confirmed | link |
Recent filings
- 2026-06-01Corporate governance report
- 2026-06-01Large-business-group status disclosure
- 2026-05-15PeriodicQuarterly report
- 2026-04-06OwnershipOwnership-change filing
- 2026-03-30OwnershipOfficers'/major-shareholders' holdings report
- 2026-03-25Disclosure
- 2026-03-23Disclosure
- 2026-03-23Shareholders' meeting notice
- 2026-03-23Disclosure
- 2026-03-13PeriodicAnnual business report
- 2026-03-12Audit report
- 2026-02-27Large-business-group status disclosure
📖 Plain-language glossary — expand if you are new to this
- P/E
- How many times a year's net profit the price is worth (lower is cheaper relative to earnings). The P/E here is on trailing (last full-year) results; for companies whose earnings swing fast (memory chips and other cyclicals/high-growth), a forward P/E on this year's expected earnings is more accurate.
- P/B
- Price relative to net assets (equity). Around 1x means it trades near book value; below 1x means below book.
- P/S
- Price relative to a year's revenue — useful for growth companies with thin earnings.
- Net debt / EV
- Net debt = interest-bearing debt − cash. Negative means more cash than debt (net cash). EV (enterprise value) = market cap + net debt, closer to what it would cost to buy the whole business.
- EV/EBIT · EV/EBITDA · EV/Sales
- Enterprise value against operating profit (EBIT), EBITDA, or revenue. Unlike P/E these reflect debt and cash; lower is cheaper relative to earnings power or sales.
- FCF / FCF yield
- Free cash flow = operating cash − capex, the cash actually left over. FCF yield = FCF ÷ market cap; higher means more cash generated per unit of market value.
- Intrinsic value (DCF)
- Future free cash flow (or, for some capex-heavy but profitable names, forecast earnings) discounted to today to estimate per-share value. Because it shifts a lot with the discount-rate and growth assumptions, it is shown as a bear/base/bull range, and the basis and assumptions are disclosed in one line beneath it.
- ROE
- How much profit the company earns in a year on its equity (%). Higher means better returns on capital.
- EPS / BPS
- Earnings per share / net assets (book value) per share.
- Operating / net margin
- Profit left from the core business / final profit after tax and interest, per unit of revenue.
- Debt ratio
- Debt relative to equity (%). Higher means more reliance on borrowing (norms vary by sector).
- Current ratio
- Assets convertible to cash within a year against debt due within a year. Above 100% leaves some short-term headroom.
- Interest coverage
- How many times operating profit covers the interest owed. Below 1x means operating profit alone struggles to cover interest.
- Dividend yield / payout ratio
- The year's dividend as a % of today's price / the share of earnings paid out as dividends.
- Revenue CAGR
- Multi-year growth expressed as a single yearly average (compound annual growth rate).
- RSI (short-term signal)
- Whether recent price action is overheated or beaten down. Above 70 is overbought, below 30 oversold.
- MA20 / MA60 (moving averages)
- The 20- and 60-day average price. Price above them signals a firmer short-term trend.
- vs 52-week high
- How far below the past year's peak the price sits now (%).
All figures are for reference only; how they read varies by sector and over time.
Sources: Korea FSC market-price API (data.go.kr), OpenDART, KRX/KIND — public data only.
Bong Stocks presents public-data-based information for reference only. It is not investment advice and contains no target prices, ratings, or buy/sell recommendations. Verify independently before making any decision.