KG MobilityKG모빌리티

KG Mobility is back to a small profit on trailing results, but its margins are thin, debt is high, and free cash flow is negative.

On trailing twelve-month figures to H1 2026, revenue was about ₩4.78T with operating income of about ₩37B and net income of about ₩93B. The share price is ₩2,540, down 29.5% over one year and near the lower end of its 52-week range, and the company pays no dividend. Filings over recent months mainly concern preliminary earnings, convertible bond issuance and short-term borrowings.

What stands out

• Trailing operating margin is 0.8% and net margin is 2%, so profitability remains thin for a vehicle maker.
• Liabilities are about 154% of equity and borrowings are about ₩789B against cash of about ₩77B.
• Trailing free cash flow is negative at about -₩270B.
• Annual revenue grew 10.2% in 2025 after recovering from losses in 2021 and 2022, with net income of about ₩47B that year.
• The shares trade at a P/E of about 5.5 and P/B of about 0.3, but the data gives no analyst view on whether that reflects value.
• Foreign ownership fell from 18.5% to 17.6% over 60 days, while institutions were net buyers over the last 20 days and retail investors were net sellers.

What to watch

• Upcoming full-year and quarterly results, since the data includes only preliminary earnings filings and no confirmed release dates.
• Terms and use of the convertible bonds and the short-term borrowing increase, given the high debt level.
• Whether free cash flow turns positive, as the trailing figure is negative and the data does not explain the cause.