Hotel Shilla호텔신라

Hotel Shilla is loss-making on a net basis over the trailing year, with its share price down sharply and its valuation sitting near book value.

Hotel Shilla runs duty-free retail and hotel and leisure businesses in Korea. On trailing twelve months to H1 2026 it reported revenue of ₩4.10T and operating income of ₩89B, but a net loss of ₩138B. The shares closed at ₩34,800 on 26 October 2026, at the bottom of their 52-week range and down 29.2% over one year.

What stands out

• Trailing revenue is ₩4.10T with a thin operating margin of 2.2%, while the net margin is -3.4%, so below-operating items weighed heavily on earnings.
• Full-year 2025 showed a net loss of ₩173B on revenue of ₩4.07T, following a net loss of ₩62B in 2024; the 2023 profit of ₩86B is the last positive year in the data shown.
• Borrowings of ₩1.16T exceed cash of ₩524B, and liabilities are 207% of equity; trailing free cash flow was -₩80B.
• Price-to-book is 1.2 and price-to-sales 0.3, while P/E is not meaningful because earnings are negative; the DCF fair value figure in the data is not usable for interpretation (base ₩4,420, bear ₩0, bull ₩58,209).
• Foreign ownership fell from 20.2% to 18.7% over about 60 days, and foreign and institutional investors were net sellers over the last 20 days while retail investors were net buyers.

What to watch

• The advance notice of earnings results filed on 21 October 2026 is informational; the full results and the reasons behind the net loss are not in the data provided.
• A treasury share sale decision was amended on 6 October 2026, and the data does not give its size or terms.
• Changes in holdings by the largest shareholder and 5%+ holders were filed in September and October 2026; the data does not explain their purpose.