KCC Engineering & ConstructionKCC건설

KCC E&C shows thinner recent profits and a much lower share price, while its filings and news flow point to ongoing contract and apartment sales activity.

KCC Engineering & Construction is a Korean builder with over 50 years of history, working on civil engineering, building construction and property sales. Trailing results to H1 2026 show revenue of about ₩1.63T, operating income of about ₩79B and net income of about ₩45B, with a 4.8% operating margin and 2.8% net margin. The shares closed at ₩5,020 on 2026-10-23, down 13.3% over one month and 6.9% over three months, and sit well below the 52-week high of ₩7,840.

What stands out

• Profitability has recovered from 2023 and 2024 levels: operating income was about ₩18B in 2023 and ₩65B in 2024, versus ₩88B in 2025 and ₩79B on a trailing basis to H1 2026.
• Revenue has been roughly flat, at about ₩1.83T in 2025 (up 0.3%) after a 4.3% decline in 2024.
• The balance sheet is leveraged: liabilities are 153% of equity, with about ₩375B of borrowings against ₩185B of cash.
• Valuation metrics are low (P/E 2.4, P/B 0.2, dividend yield 4%), but the data includes a DCF fair value model with a base value of ₩34,127 and a bear value of zero, which the data does not explain further.
• Recent filings are mostly major sales or supply contracts and amendments, plus a serious accident report on 2026-10-08. News covers apartment sales in Hyangnam and a lecture event; the data does not include any analyst views.

What to watch

• Upcoming results and the next filing that updates the H1 2026 figures, including whether margins hold near 4.8%.
• Follow-up to the serious accident filing from 2026-10-08 and any effect on operations or costs, which the data does not detail.
• Debt levels and debt guarantee decisions, given the 153% liabilities-to-equity ratio and the September 2026 debt guarantee filing.