Kumho Electric금호전기

Kumho Electric's shares have surged over the past year while its filings still show operating losses and a shrinking revenue base.

Kumho Electric, a Korean maker of lighting products with a small software subsidiary, reported trailing twelve-month revenue of ₩41.6B and an operating loss of ₩1.3B through H1 2026. The shares closed at ₩7,520 on 27 October 2026, up 115.5% over one year but down 23.6% over one month, with a market capitalisation of about ₩95.0B. The data does not include analyst forecasts or a fair value estimate.

What stands out

• Revenue fell 16.6% in 2025 to ₩44.3B, after roughly flat sales in 2024 and growth in 2023, and operating losses have narrowed each year since 2022.
• Net income was still negative in 2025 at ₩-3.4B, and trailing free cash flow was ₩-0.9B, so the business is not yet generating cash on these figures.
• Liabilities are 122.8% of equity and borrowings are ₩4.3B against cash of ₩4.5B, which is a relatively thin buffer.
• Recent filings are dominated by convertible bond conversions, preemptive rights for new shares and conversion price adjustments, which point to dilution risk for existing holders.
• Foreign ownership rose slightly to 14.2% from 13.8% over 60 days, while institutions were net sellers over the last 20 days; no news headlines were included in the data.

What to watch

• Upcoming results and whether the operating loss keeps narrowing toward break-even.
• Further filings on convertible bond conversions and new share issuance, and the effect on the share count.
• Changes in largest shareholder holdings and 5%+ holding reports, given the sharp share price swings.