HS AdHS애드

HS Ad's trailing profits are thin but steady, and the shares have fallen 28.7% over the past year while trading at low multiples.

HS Ad is a South Korean advertising company whose trailing twelve-month revenue to H1 2026 was ₩479B, with operating income of ₩28B and net income of ₩19B. Revenue fell 12.8% in 2025, and the share price closed at ₩6,260 on 2026-10-23, near the lower half of its 52-week range of ₩5,750 to ₩9,390. The company reports a ₩63B cash balance against ₩8B of borrowings, though liabilities are 126.9% of equity.

What stands out

• Trailing operating margin is 5.9% and net margin is 3.9%, both slightly above the 2025 full-year levels.
• Foreign ownership fell from 25.1% to 9.4% over the past 60 days, while foreign investors were net sellers of about ₩7.7B over the last 20 days.
• The valuation screens low: P/E of 5.5, P/B of 0.5, and a dividend yield of 8.8%, versus a DCF base-case value of ₩21,378 in the data.
• Recent filings include a half-year report, preliminary earnings and a cash dividend decision in August 2026, plus several 5%+ holding reports in September and October.
• No news headlines were included in the data, so the reasons behind the share price moves are not explained here.

What to watch

• The next earnings release and whether revenue returns to growth after the 2025 decline.
• Further 5%+ holding reports and the continued pace of foreign share selling.
• Whether the 8.8% dividend yield is sustained, given the company's liabilities-to-equity ratio of 126.9%.