460870 KR · SMCGMW GOBLIN RESEARCH
SMCG: After Revenue Growth, the Focus Turns to Cash Collection
Analysis date
Published
As of 2026-10-22, the investment appeal at KRW 3,360 is conditional. First-half growth has been confirmed, but weaker Q2 profitability and cash outflows mean that cost reductions and the release of cash tied up in working capital still need to be demonstrated.
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Read the full reportWhat this report covers
- Bundled supply drives growth, but improving the cost ratio remains a challenge
- Cash tied up in inventory and receivables