Dong-Ah Geological Engineering동아지질

Dong-Ah Geological Engineering is profitable again on a trailing basis, but margins are thin and the share price has already moved well above its recent lows.

Dong-Ah is a small Korean civil engineering and ground-works contractor, with most revenue from overseas projects in Singapore and the Philippines. Trailing revenue to H1 2026 is about ₩494B with operating income of about ₩20B, up from a loss in 2022 and a small profit in 2023 to 2024. The share price is ₩19,040, roughly 23% higher over one year, and the data shows a market cap of about ₩214B.

What stands out

• Operating margin is about 4.1% on a trailing basis, up from 2.2% in 2023 and an operating loss in 2022, but still thin for a contractor.
• Annual revenue grew 18.9% in 2025 to about ₩468B, and trailing revenue is about ₩494B, so top-line growth has continued into 2026.
• Balance sheet shows cash of about ₩143B against borrowings of about ₩54B, but liabilities are about 101.5% of equity.
• The company pays no dividend, and the data does not include analyst ratings or price targets.
• Filings from August to October 2026 are mostly amendments to major sales or supply contracts, and a September response to a news report and a lawsuit filing are also listed.

What to watch

• The next periodic results and whether margins hold above the 2025 level of about 3.9%.
• Further amendments to major contracts and the content of any revised contract values or timelines, which the data does not explain.
• The lawsuit filed in September 2026 and any follow-up filings, since the data gives no detail on its size or effect.