Doosan두산

Doosan's trailing results have recovered to a small profit while its share price has fallen sharply over the past month.

Doosan is a Korean holding company with stakes in 23 affiliates, plus its own electronic materials and digital units. Trailing twelve-month revenue is about ₩20.8T with operating income of ₩1.3T and net income of ₩368B for the period to H1 2026, after a loss-making 2024 and a small 2025 profit. The share price closed at ₩901,000 on 26 October 2026, down 40.4% over one month and 24.7% over three months, though still up 12.5% over one year.

What stands out

• Trailing operating margin is 6.4% and net margin is 1.8%, compared with 5.4% operating margin for full-year 2025 and a net loss in 2024.
• Borrowings of ₩9.8T exceed cash of ₩4.8T, and liabilities are 161.3% of equity.
• Valuation is 34.9 times trailing earnings and 4.9 times book, with a 0.4% dividend yield; the data includes no fair value estimate.
• Over the past 20 days, institutions (-₩133.5B) and foreign investors (-₩47.2B) were net sellers while retail investors were net buyers (+₩178.9B). Foreign ownership edged up to 21.1%.
• Recent filings include an advance notice of earnings results, a share cancellation decision, a trading halt and several insider and 5%+ holding reports in September and October 2026.

What to watch

• The full earnings results that the advance notice of earnings results points to, to see whether the recent profit improvement holds.
• Details of the share cancellation decision and the major management matter filed in September 2026, which the data does not explain.
• Debt levels relative to cash, given the gap between borrowings and cash and the high liabilities-to-equity ratio.