Dongbang Agro동방아그로

Dongbang Agro's trailing profits have slipped from their 2023 peak, and the shares have fallen 12.4% over the past year.

Dongbang Agro, a Korean agricultural chemicals maker, reported trailing twelve-month revenue of ₩187B and net income of ₩9.1B to H1 2026. Revenue has grown for several years, but operating margin has fallen from 8.6% in 2024 to 6.0% on a trailing basis. At ₩5,390 the shares trade near the low end of their 52-week range, and the data shows a dividend yield of 5.9%.

What stands out

• Revenue rose from ₩134B in 2021 to ₩179B in 2025, but operating income peaked at ₩14.6B in 2024 and was ₩11.3B on a trailing basis.
• Trailing return on equity is 5.2%, below the 7.8% recorded in 2023, and liabilities are 44.5% of equity.
• Borrowings of ₩34.3B exceed cash of ₩5.9B, and trailing free cash flow is ₩2.0B.
• Valuation metrics are low: P/E of 8.0, P/B of 0.4 and EV/EBITDA of 6.6, against the company's own DCF base value of ₩13,378 in the data.
• Filings in 2026 include a corporate value-up plan (March), a change of largest shareholder (April) and a half-year report (August); foreign ownership is 30.9%.

What to watch

• The next quarterly results and whether operating margin recovers from the trailing 6.0%.
• Follow-up to the value-up plan and the largest-shareholder change, which the data does not explain in detail.
• The DCF bear case of ₩5,987 sits close to the current price, so the range of outcomes is wide; no analyst forecasts are in the data.