Namsung남성

Namsung is loss-making in its latest full year, but its trailing results to mid-2026 show a small operating profit and a share price down sharply over the past year.

Trailing twelve-month revenue to H1 2026 is about ₩79.0B with operating income of about ₩2.6B and net income of about ₩5.2B, after a net loss of ₩3.7B in 2025. The company carries borrowings of ₩7.8B against cash of ₩8.3B, and free cash flow over the trailing period was negative at about ₩8.4B. The share price closed at ₩5,360 on 2026-10-16, down 29.6% over one year, with a market cap of about ₩24.4B.

What stands out

• Trailing operating margin is 3.3%, compared with 0.2% in 2025 and losses in 2023 and 2024, so recent profitability is better than the last full year.
• Net income over the trailing period (₩5.2B) is well above operating income, and the data does not explain the gap.
• Liabilities are 156.6% of equity and the company is in a net cash position on the figures given, with cash slightly above borrowings.
• Filings in recent months include an early acquisition of exchangeable bonds, treasury share sale decisions, a bonus share issue decision and an investment caution notice.
• Valuation metrics show a P/E of 4.7 and P/B of 0.2, while the model fair value range is ₩1,155 to ₩5,558 with a base of ₩2,974, which is below the current price.

What to watch

• The H1 2026 half-year report and any full-year 2026 results, to see whether the trailing profit holds and free cash flow turns positive.
• Follow-up on the exchangeable bond acquisition, treasury share sale and bonus share issue, which may affect share count and dilution.
• The investment caution notice and executive trading plans; the data does not say what prompted the caution.