KctcKCTC

KCTC's trailing profit has recovered to a thin positive margin, but the shares have fallen about a third over the past year and leverage remains high.

KCTC is a Korean integrated logistics company covering container and general cargo transport, port cargo handling, and warehousing and fulfillment. Its trailing twelve months to H1 2026 show revenue of about ₩1.06T, operating income of about ₩44.6B and net income of about ₩28.5B, a clear improvement on 2023 when net income was only about ₩1.8B. The share price of ₩3,805 sits near the lower end of its 52-week range of ₩3,370 to ₩8,390.

What stands out

• Trailing revenue is about ₩1.06T with a 4.2% operating margin and 2.7% net margin, versus 2025 full-year revenue of about ₩987B and net income of about ₩21.2B.
• Liabilities are 130.7% of equity and borrowings are about ₩234B against cash of about ₩33B, so debt is a significant feature of the balance sheet.
• Free cash flow over the trailing period was negative at about -₩2.1B, and the company pays no dividend according to the data.
• The company-level valuation metrics are low, with a P/E of about 4 and P/B of 0.3, below most listed peers shown, but the data gives a DCF base value of ₩22,841 and a bear value of 0, which is a wide range.
• Foreign ownership fell from 7.2% to 6.2% over about 60 days, while the 20-day flows show foreign and institutional net selling and retail net buying.

What to watch

• The next quarterly or annual results, to see whether operating margin holds near 4% and free cash flow turns positive.
• Filings on collateral provided to third parties and related-party transactions, both listed in September 2026, and any further detail on them.
• Debt levels and interest costs relative to earnings, since borrowings are large compared with cash. The data does not include news coverage for the period.