Ontide온타이드

Ontide's shares have risen sharply over three months, but the company is still loss-making on a trailing basis and carries heavy borrowings.

Ontide is a Korean knitted apparel maker that produces mainly for export under OEM arrangements, with overseas plants in Indonesia and Mexico. On trailing twelve-month figures to H1 2026, revenue was about ₩238.7B with a small operating profit of ₩25.9B but a net loss of about ₩338.6M, and free cash flow was negative at about ₩16.8B. The share price closed at ₩1,325, up 69% over three months, though the data gives no fair value estimate or analyst view.

What stands out

• Revenue fell 12.9% in 2025 to about ₩231.5B after an 18.5% rise in 2024, and the company has booked net losses in four of the last five years, with 2022 the exception.
• Trailing borrowings of about ₩29.5B exceed cash of about ₩26.8B, and liabilities are 68.9% of equity.
• Operating income turned slightly positive on a trailing basis (about ₩25.9M), compared with a loss of about ₩1.9B in 2025.
• Price-to-book is about 0.4 and there is no meaningful earnings multiple since earnings are negative; the company pays no dividend.
• Foreign ownership rose from 1.3% to 2% over about 60 days, while 20-day flows were net negative across foreign, institutional and retail investors.

What to watch

• The next periodic results and whether the trailing operating profit turns into a sustained net profit, as the data does not include forecasts.
• Recent filings on largest-shareholder and 5%+ holding changes and an insider shareholding report, all dated October 2026, plus the investment caution notices from August 2026.
• Free cash flow and borrowing levels, since the data shows negative free cash flow and debt above cash.