Daesang대상

Daesang is loss-making on a trailing basis after a large net loss, though operating profit remains positive and the shares are well below their 52-week high.

Daesang sells food brands such as Chungjungone, Miwon and Jongga, plus starch, sugars and amino acids. Trailing revenue to H1 2026 is about ₩4.47T with a small positive operating income of about ₩175B, but a trailing net loss of about ₩300B. The shares closed at ₩16,360, down 21.7% over one year and near the 52-week low of ₩15,880.

What stands out

• Trailing operating margin is 3.9%, but net margin is -6.7%, so non-operating items or other charges pushed the bottom line into loss.
• 2025 showed a net loss of about ₩304B after a ₩95B profit in 2024, and trailing ROE is -23.7%.
• Borrowings of about ₩1.04T exceed cash of about ₩226B, and liabilities are 203.4% of equity.
• Price-to-book is 0.5 and the data shows a 5.2% dividend yield, while P/E is not meaningful because earnings are negative.
• Filings in 2026 include fines imposed in July with an amendment in August, and the half-year report was amended in September.

What to watch

• The reason for the trailing net loss and whether it recurs in the next full-year or quarterly filings; the data does not explain the drivers.
• Details of the imposed fines and any further disclosures on their size or impact, which the data does not provide.
• Continued foreign ownership decline (from 17.2% to 15.9% over 60 days) and the company's debt levels relative to cash.