TBC티비씨

TBC's trailing profit is thin and shares have fallen about 48% over the past year, with a share consolidation decision on the filing list.

TBC is a Daegu-based regional broadcaster whose revenue depends mainly on advertising and sponsorship. On trailing figures to H1 2026 it reported revenue of about ₩39.4B, an operating margin of only 1.4% and a net income of about ₩3.0B, while the share price closed at ₩1,681 with a market cap near ₩31.8B.

What stands out

• Operating income fell sharply from ₩4.1B in 2023 to ₩1.5B in 2025 and about ₩0.6B on a trailing basis, so the business earns very little from operations.
• Net income is well above operating income in the trailing figures, so the reported profit relies on items outside core operations; the data does not explain what these are.
• The balance sheet looks light: liabilities are 4.5% of equity and cash of about ₩8.1B exceeds borrowings of about ₩3.1B, though the enterprise value figure is negative.
• The shares are down 48.1% over one year, trade near 0.2x book value, and the 52-week low is listed as ₩0 in the data, which looks unreliable.
• Filings in mid-2026 include a trading halt, an amended decision on a share consolidation, and several insider shareholding reports; the news list is empty.

What to watch

• The share consolidation decision and its timing, as listed in the amended filing from June 2026.
• Full-year 2026 results, since current figures cover only the trailing period to H1 2026.
• Whether operating margin recovers from the low trailing level, given the company's stated push into events and training to reduce advertising reliance.