Paradise파라다이스

Paradise trades near its 52-week low after a steep one-year fall, while recent trailing profit and cash flow are weaker than 2025.

Paradise runs foreign-only casinos, the Paradise City resort in Incheon, and hotels in Busan and Orlando, plus a spa in Asan. Trailing results to H1 2026 show revenue of ₩1.19T and operating income of ₩128B, below the 2025 full-year figures of ₩1.15T revenue and ₩156B operating income. Free cash flow is negative at -₩160B on borrowings of ₩1.03T.

What stands out

• Trailing operating margin is 10.8% and net margin 6.2%, versus 13.6% and 8.2% in 2025 (net margin 2025 is about 8.2% on the reported figures).
• The share price is ₩9,730, close to the 52-week low of ₩9,160 and far below the 52-week high of ₩21,850; the one-year return is -49.3%.
• Valuation metrics are low: P/E 12.1, P/B 0.5, and a 1.5% dividend yield, while liabilities are 87.5% of equity.
• Foreign ownership fell from 8.2% to 7.7% over the past 60 days, and foreign investors were net sellers over the last 20 days while institutions were net buyers.
• Recent filings include a 5%+ holding report, a securities registration statement with issuance results, and preliminary consolidated earnings; news is mostly about hotel events, spa wellness programmes and concerts at Paradise City.

What to watch

• Upcoming full-year results and whether trailing margins recover toward 2025 levels.
• Negative free cash flow and the ₩1.03T of borrowings, given the cash balance of ₩282B.
• Details of the recent securities issuance, which the filings describe but the data does not explain in full.