Dawon Cable대원전선

Dawon Cable's trailing revenue is growing and it is slightly profitable, but its share price has fallen about 24% over the past month after a very large rally over the past year.

Dawon Cable makes electric wires and cables and aluminum wheels for automakers, with plants in South Korea and China. Over the twelve months to H1 2026 it reported revenue of about ₩789B, an operating margin of 1.8%, and negative free cash flow of about ₩24B. The shares closed at ₩10,220 on 2026-10-23, well below the 52-week high of ₩20,300 but far above the low of ₩3,055.

What stands out

• Trailing revenue of about ₩789B is well above the 2025 full-year figure of ₩625B, but operating income of about ₩14B is thin relative to sales.
• Net income of about ₩12.6B is similar to operating income, and return on equity is 9.7% on a trailing basis.
• Borrowings of about ₩81B exceed cash of about ₩53B, and liabilities are 152% of equity.
• The 1-year share price return is +228.6%, while the 1-month return is -24.2% and the 3-month return is -25.6%.
• Valuation is high against the company's own profits: P/E of 63.4 and P/B of 5.5, with no dividend (0% yield).

What to watch

• Free cash flow was negative over the trailing period, so upcoming filings showing cash generation and debt levels matter.
• Recent filings are mostly largest-shareholder holding changes and insider shareholding reports, so ownership shifts are worth tracking.
• Foreign ownership rose slightly to 4.7% from 4.2% over 60 days, while retail investors were net sellers of about ₩6.1B over the last 20 days.