Mohenz모헨즈

Mohenz is loss-making on a trailing basis and its share price has fallen sharply over the past year, though its balance sheet looks manageable.

Mohenz makes ready-mixed concrete from four plants in Korea, with demand tied to construction activity. Trailing revenue to H1 2026 was about ₩82.1B, but it posted an operating loss of about ₩1.6B and a net loss of about ₩2.1B. The shares closed at ₩2,735, down 10.6% over one year, with a market capitalisation of about ₩29.9B.

What stands out

• Revenue has fallen for two straight years, from about ₩111.4B in 2023 to about ₩81.2B in 2025, and the trailing figure to H1 2026 is about ₩82.1B.
• Operating income turned negative in 2025 (about -₩3.0B) after a profit of about ₩2.7B in 2024, and remains negative on a trailing basis.
• Trailing free cash flow is positive at about ₩0.9B, and cash of about ₩3.8B is reported with no borrowings listed, while liabilities to equity is 57.4%.
• The DCF fair value model gives a base value of ₩466 and a bull value of ₩3,355, well below and above the current price respectively, with the bear value at ₩0; the model has a wide range and is not a forecast.
• Foreign ownership rose from 1.3% to 2.3% over about 60 days, while the 20-day flows show foreign and institutional net selling and retail net buying.

What to watch

• The 2026 full-year results and whether operating losses narrow from the trailing level.
• A filing titled 'Change in Revenue or Profit/Loss Structure of 30% or More' was made in February 2026; the data does not explain its details, so the filing itself should be reviewed.
• The data contains no recent news headlines and no forward estimates, so the outlook for construction demand and margins is not covered here.