DS DansukDS단석

DS Dansuk is loss-making on a trailing basis and its shares have fallen sharply over the past year, while it is investing in a new sustainable aviation fuel unit.

DS Dansuk, a Korean recycling and biofuel company, reported a trailing twelve-month net loss of ₩12.2B on revenue of ₩1.07T through H1 2026, with thin operating margin of 1% and negative free cash flow of ₩126.3B. The shares closed at ₩9,830 on 2026-10-23, down 54.2% over one year and near the bottom of their 52-week range. Recent filings show a rights offering decision and a capital injection into a sustainable aviation fuel subsidiary.

What stands out

• Revenue has been broadly flat to down: ₩1.07T trailing, versus ₩955B in 2025 and ₩962B in 2024, and operating income fell from ₩76B in 2023 to ₩8B in 2025.
• Net income has been negative in each of 2024 and 2025, and the trailing net loss is ₩12.2B; the company reports a 257% liabilities-to-equity ratio and ₩182B in borrowings against ₩49B of cash.
• On 2026-10-20 the company disclosed a rights offering (paid-in capital increase) decision, a share acquisition in a subsidiary (DS Orbion, for about ₩42.2B), and a ₩41.2B in-kind contribution toward a Gunsan sustainable aviation fuel facility.
• Valuation metrics are low on book value (P/B 0.6, P/S 0.2) but earnings-based multiples are not meaningful because of losses; the data's DCF fair value estimate of ₩10,896 is close to the current price.
• Foreign ownership rose slightly to 2.6% from 2.4% over 60 days, while retail and institutional investors were net sellers over the last 20 days.

What to watch

• Details and terms of the rights offering, including share count, price and use of proceeds, and how it affects existing holders.
• Progress of the Gunsan sustainable aviation fuel facility and whether the subsidiary's spending increases the debt load further.
• Full-year 2026 results, given the trailing loss and negative free cash flow; the data does not include any forecasts or analyst estimates.