Woojin I&S우진아이엔에스

Woojin I&S is loss-making on a trailing basis after a weak first half of 2026, though its 2025 profit and very low valuation stand out.

Woojin I&S makes ducts and building equipment for semiconductor, display and general construction projects, and works mainly on a project-order basis. Trailing revenue to H1 2026 is ₩201.5B, but operating income is only ₩1.0B and free cash flow is negative at ₩-11.4B. The shares closed at ₩3,700, down 24.1% over three months, and trade at a P/E of 6.7 and P/B of 0.4.

What stands out

• 2025 was profitable, with revenue of ₩164.5B, operating income of ₩5.0B and net income of ₩7.6B, after large losses in 2021, 2022 and 2024.
• Trailing operating margin is 0.5% and net margin is 2.1%, so most of the trailing net income is not coming from core operations, which the data does not explain.
• Borrowings of ₩3.6B exceed cash of ₩2.2B, and liabilities are 47.9% of equity.
• Foreign ownership fell slightly to 2.2% and the 20-day flows show foreign and institutional net selling with retail net buying.
• The company filed a corporate value-up plan and several major sales or supply contracts in late September and October 2026, but the data does not give their values.

What to watch

• Contract values and amendments in the recent major sales or supply filings, and whether they add to revenue.
• Full-year 2026 results, particularly whether operating income turns sustainably positive and free cash flow improves.
• The dividend yield of 4.1% is in the data, but the data does not show dividend history or payout sustainability; check future filings before relying on it.