Maniker마니커

Maniker returned to a small operating profit on higher trailing revenue, but it still posts a net loss and carries heavy debt.

Maniker is a vertically integrated Korean chicken producer with trailing-twelve-month revenue of ₩411.7B to H1 2026. Trailing operating income is only ₩241M, net income is a loss of ₩2.0B, and borrowings of ₩68.1B exceed cash of ₩24.0B. The shares closed at ₩1,132 on 2026-10-23, down 30% over one year but up 15.3% over three months.

What stands out

• Trailing operating margin is about 0.1% and net margin is about -0.5%, so profitability remains thin.
• Annual revenue rose from ₩332.8B in 2024 to ₩368.9B in 2025 (up 10.8%), and 2025 operating income was positive at ₩2.0B after a large loss in 2024.
• Liabilities are about 359% of equity and trailing free cash flow is negative at about -₩561M.
• Valuation shows price-to-book of 0.9 and price-to-sales of 0.1, while P/E is not meaningful because earnings are negative; the dividend yield is 0%.
• Recent filings in September and October 2026 are mostly shareholding reports and a share cancellation decision; no news headlines were provided.
• Foreign ownership rose from 1.4% to 2.2% over about 60 days, while the 20-day flows show retail buying outpacing foreign selling.

What to watch

• The next periodic results and whether operating profit stays positive while net losses narrow.
• Progress on debt levels and free cash flow, given borrowings of ₩68.1B against ₩24.0B cash.
• Details of the share cancellation decision and further largest-shareholder holding changes, which the data does not explain.