Dongwon Mobility동원모빌리티

Dongwon Mobility trades at very low multiples on TTM figures that show profit, but its shares have fallen over the past year and a fair-value model points far below the current price.

Dongwon Mobility makes steel-formed auto parts, mainly for Hyundai Motor, Kia, GM Korea and KG Mobility, with plants in Korea and overseas. On a trailing basis to Q1 2026 it had revenue of about ₩652B, operating income of about ₩43B and net income of about ₩30B, while its share price of ₩1,264 sits near the low end of its 52-week range of ₩1,219 to ₩1,967. Debt is high, with borrowings of about ₩248B and liabilities at 243.6% of equity.

What stands out

• Trailing operating margin is 6.6% and net margin 4.5%, up from a 2022 operating margin of 3.0% and a 2021 operating loss.
• Annual revenue grew 10.2% in 2025 after 5.5% in 2024, but net income fell from ₩21.2B-level profit in 2023 range to ₩21.2B in 2025 versus ₩18.3B in 2024, so profit trends are mixed across years.
• Reported P/E of about 2 and P/B of 0.3 are very low, and a 4% dividend yield is shown, but the data does not explain the reasons for these levels.
• The DCF fair-value model gives a base of ₩17,477, far above the current price, with a bear case of ₩2,725 and a bull case of ₩53,844; the wide range shows high model sensitivity.
• Filings in recent months include several lawsuit entries, a designation for unfaithful disclosure in July, a debt guarantee decision in September, and a change in largest shareholder's holdings in October.

What to watch

• Outcome and financial impact of the lawsuits listed in October 2026 filings, which the data does not describe in detail.
• Next quarterly results and whether margins hold near the trailing 6.6% operating level, given reported debt levels.
• Foreign ownership, which fell from 3.9% to 3.4% over 60 days, and the largest shareholder's holding changes.