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SK Group's vaccine maker — develops its own vaccines and contract-manufactures for global partners such as Novavax.
SK Group's vaccine maker — develops its own vaccines and contract-manufactures for global partners such as Novavax.
Sells vaccines mainly to governments and international buyers, and earns contract-manufacturing fees for producing others' vaccines, boosted by the COVID period and fallen back as demand normalised. Buying a majority of IDT Biologika of Germany in 2023 added European manufacturing capacity; partner Sanofi co-develops its next-generation pneumococcal vaccine.
Moat: narrow (regulatory licence, process know-how). One of few Asian vaccine makers with own R&D plus GMP fill-finish/CDMO capacity.
Headquarters: Seongnam, South Korea · Founded: 2018 · Employees: 1,129
Size SKBS (302440.KS) is a South Korea Health Care company (Biotechnology) with a market value of $2.22B, the 128th largest of 495 South Korea companies the cockpit tracks. Shares closed at ₩38,400 on 6 Nov 2026.
Performance Over six months the shares fell 10.8%, against +11.2% for the median peer and -24.5% for the South Korea market (cap-weighted) — 6th lowest of 21 in its peer set.
Growth Revenue grew 23.2% over the last twelve months (peer median +14.5%); the operating margin is -24.9% (peer median 5.8%).
Valuation It trades at 4.5× enterprise value to sales against a peer median of 9.4× (3rd cheapest of 13).
Capital Return on invested capital runs 12.1 points below its cost of capital (6.0% WACC).
Next results Next results expected around 10 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₩659B | ₩651B | ₩268B | ₩370B | ₩457B |
| Revenue growth | — | +143% | -28% | -19% | — |
| Gross profit | ₩74.2B | ₩59.5B | ₩22.1B | ₩136B | ₩236B |
| EBITDA | -₩66.2B | -₩60.3B | -₩119B | -₩8.76B | ₩88.4B |
| Net income | -₩84.7B | -₩57.4B | -₩53.9B | ₩22.3B | ₩122B |
| Free cash flow | -₩137B | -₩80.6B | -₩292B | -₩14.1B | -₩198B |
| Capital expenditure | ₩260B | ₩260B | ₩172B | ₩50.3B | ₩76.5B |
| Total debt | ₩543B | ₩470B | ₩393B | ₩20.6B | ₩113B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| SKBS 302440.KS | $2.22B | -11% | +23% | -25% | 4.5× | n/a |
| GC Biopharma 006280.KS | $1.18B | +2% | -3% | 4% | 0.8× | 8.3% |
| Novavax NVAX | $1.78B | +7% | -62% | -29% | 3.3× | n/a |
| Sanofi SAN.PA | $113B | +14% | +15% | 27% | 2.6× | -5.4% |
| GSK GSK.L | $102B | 0% | +4% | 25% | 2.9× | -0.1% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 302440.KS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +1.1% | +1.7% | 10th lowest of 21 |
| 6-month return | -10.8% | +11.2% | 6th lowest of 21 |
| Distance from 52-week high | -37.4% | -25.4% | 6th lowest of 21 |
| Revenue growth (TTM) | +23.2% | +14.5% | 7th highest of 15 |
| Operating margin | -24.9% | 5.8% | 6th lowest of 14 |
| EV / Sales | 4.5× | 9.4× | 3rd cheapest of 13 |
| ROIC minus cost of capital | -12.1 pp | -3.3 pp | 5th lowest of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| SKBS 302440.KS | South Korea | $2.22B | -11% | +23% | -25% | 4.5× | n/a | n/a |
| Immunome IMNM | United States | $2.21B | -17% | -100% | n/a | n/a | n/a | n/a |
| Aurinia Pharmaceuticals AUPH | United States | $2.21B | +8% | +21% | 45% | 5.5× | 5.1% | +41.4% |
| Recursion Pharmaceuticals RXRX | United States | $2.19B | +6% | +56% | -725% | 25.1× | n/a | n/a |
| Lakefront Biotherapeutics LKFT.AS | Netherlands | $2.19B | +25% | +259% | 60% | n/a | n/a | n/a |
| Sinocelltech 688520.SS | China | $2.25B | -23% | -40% | -75% | 15.6× | n/a | n/a |
| Vimian VIMIAN.ST | Sweden | $2.26B | +41% | +8% | 19% | 4.9× | 12.5% | +44.5% |
| Septerna SEPN | United States | $2.28B | +105% | +13,520% | -57% | 19.5× | 18.7% | n/a |
| Hemab Therapeutics COAG | United States | $2.29B | +95% | n/a | n/a | n/a | n/a | n/a |
| Vera Therapeutics VERA | United States | $2.15B | -18% | n/a | n/a | n/a | n/a | n/a |
| Zealand Pharma A/S ZEAL.CO | Denmark | $2.32B | -32% | -49% | 51% | 0.3× | n/a | n/a |
| Hitgen 688222.SS | China | $2.12B | +23% | +42% | 27% | 19.1× | 38.7% | +16.8% |
| Shenzhen Kangtai Biological Products 300601.SZ | China | $2.11B | -9% | -9% | 6% | 5.6× | 25.3% | +3.4% |
| Celldex Therapeutics CLDX | United States | $2.35B | -12% | -97% | -206,220% | 10,375.3× | n/a | n/a |
| Vir Biotechnology VIR | United States | $2.07B | +34% | +1,496% | -92% | 5.4× | n/a | n/a |
| BGI Genomics 300676.SZ | China | $2.39B | -4% | 0% | -14% | 3.7× | n/a | n/a |
| Replimune REPL | United States | $2.05B | +547% | n/a | n/a | n/a | n/a | n/a |
| Trevi Therapeutics TRVI | United States | $2.04B | -1% | n/a | n/a | n/a | n/a | n/a |
| Pharvaris PHVS | United States | $2.41B | +14% | n/a | n/a | n/a | n/a | n/a |
| First Tracks Biotherapeutics TRAX | United States | $2.01B | +145% | n/a | n/a | n/a | n/a | n/a |
| GemPharmatech 688046.SS | China | $2.01B | +59% | +25% | 22% | 13.3× | 35.7% | +24.8% |