Taewonmulsan태원물산

Taewonmulsan is loss-making on a trailing basis, with the share price down about 24% over the past year and little news flow in the data.

Taewonmulsan, a small Korean auto parts and food company, reported a trailing twelve-month revenue of ₩17.2B to H1 2026 but an operating loss of ₩1.4B and a net loss of ₩2.3B. The company holds ₩4.2B of cash and reports no borrowings, and the shares closed at ₩2,600 on 2026-10-23, giving a market cap of about ₩19.8B.

What stands out

• Revenue has grown strongly over recent years, with 2025 up 28.5% to ₩14.9B, yet operating losses have persisted in every year shown from 2021 to H1 2026.
• The 2024 net profit of ₩17.5B stands out as a one-off against otherwise negative results, and the data does not explain its cause.
• The balance sheet looks conservative: no borrowings and liabilities at 11.1% of equity, with trailing free cash flow of about ₩1.9B.
• Price-to-book is about 0.5 and the dividend yield is shown as 7.7%, while P/E and EV/EBITDA are not meaningful because earnings are negative.
• The filings list repeated treasury stock buybacks, a share cancellation decision, a lawsuit, and an investment caution notice, but the data does not give details of their content or impact.
• The fair value model gives a base of ₩889, below the current price, with bear and bull values of ₩1,283 and ₩535; these are model outputs, not forecasts.

What to watch

• The next full-year or quarterly results, to see whether operating losses narrow from the current level.
• Details of the lawsuit, the investment caution notice and the share cancellation, which the data does not explain.
• Foreign ownership has slipped from 3.1% to 2.6% over 60 days, and the data shows no recent news headlines to explain the moves.