Seoul Food IND서울식품

Seoul Food returned to a small operating profit on a trailing basis but still posts a net loss, and its shares have fallen sharply over the past year.

Seoul Food runs a bakery and frozen dough business alongside an environmental unit that turns food waste into animal feed. On a trailing twelve-month basis to H1 2026 it reported revenue of ₩65.9B, a small operating profit of ₩125M and a net loss of ₩1.2B. The share price closed at ₩1,273 on 2026-10-20, up 28.8% over three months but down 19.4% over one year.

What stands out

• Trailing revenue is about ₩65.9B, below the ₩68.6B reported for 2025, while trailing operating margin is a thin 0.2%.
• Net margin is -1.8% on a trailing basis, and 2025 showed a net loss of about ₩1.6B after an operating loss.
• Liabilities are 176.7% of equity and borrowings total about ₩4.5B against cash of about ₩5.9B.
• Trailing free cash flow is positive at about ₩3.6B, although the company paid no dividend (yield 0%).
• Valuation is at 1.9x book and 12.5x EV/EBITDA, with no meaningful P/E because earnings are negative; the filed DCF base value is ₩666, well below the current price of ₩1,273.

What to watch

• Upcoming half-year and full-year filings, since the H1 2026 half-year report was amended in late September and the trailing figures could change.
• Recent filings include a delisting-related notice and a 5%+ holding report plus several insider shareholding reports; the data does not explain their content.
• The headline news list is empty, so there is no press coverage in the data to explain the recent share price move.