Moorim P&P무림P&P

Moorim P&P is loss-making on a trailing basis, with heavy debt, but its shares trade at a very low book value and pay a high dividend yield.

Trailing twelve-month revenue to H1 2026 is ₩784B, with an operating loss of ₩25B and a net loss of ₩100B. Borrowings of ₩1.07T far exceed cash of ₩208B, and liabilities are about 2.5 times equity. The share price is ₩1,601, down 38.8% over one year, with a market capitalisation of about ₩100B.

What stands out

• Revenue fell 9.9% in 2025 to ₩732B, and the company has moved from a ₩36B operating profit in 2024 to losses in 2025 and the trailing period.
• Price-to-book is about 0.2 and the dividend yield is listed at 7.8%, but the company has no positive trailing earnings, so the P/E is not meaningful.
• Free cash flow is positive at ₩9B on a trailing basis, although it is small relative to the debt load.
• Foreign ownership fell from 2.4% to 1.5% over 60 days, while retail investors were net buyers over the last 20 days.
• Recent filings include several amended fine notices from June to August 2026, but the data does not explain the cause or size of the fines.

What to watch

• The next quarterly and annual results, to see whether operating losses narrow and whether debt is reduced.
• Details of the imposition of fines and their amendments, which the data does not describe.
• Whether the dividend is maintained given the net losses and high borrowings; the data does not include a dividend policy.