Daedong대동

Daedong's latest half-year results show a thin operating profit, a net loss and heavy borrowings, with the shares well below their 52-week high.

Daedong is a Korean farm machinery maker (tractors, combines, transplanters) with subsidiaries in the US, China and Europe. On trailing twelve-month figures to H1 2026 it had revenue of ₩1.53T and operating income of ₩31.7B (2.1% margin), but a net loss of ₩18.0B. Its share price of ₩7,160 is down 28.2% over one year, and the data shows a 2.4-times liabilities-to-equity ratio.

What stands out

• Trailing revenue of ₩1.53T is up from ₩1.48T in 2025 and ₩1.42T in 2024, but operating margin has stayed thin at around 2%.
• The company has posted net losses in 2024, 2025 and the trailing period, after profits in 2021 to 2023.
• Borrowings of ₩1.06T against cash of ₩99B, and negative trailing free cash flow of ₩7.0B, highlight a heavy debt load.
• Price-to-book of 0.3 and a 1.4% dividend yield are shown, but P/E is not meaningful because earnings are negative.
• Recent filings include a convertible bond issue decision (Oct 2026), a debt guarantee for another party (Sep 2026) and several share acquisitions (Jul to Aug 2026).

What to watch

• Details and terms of the convertible bond issue and how it might affect the share count and debt.
• The full-year 2026 results and whether the operating profit and net loss trend improves.
• The debt guarantee and share acquisitions, which add financial exposure; the data does not give their size or purpose in detail.