Gradiant그래디언트

Gradiant remains loss-making on a trailing basis, though its share price is up over three months and it trades well below book value.

Gradiant is a Korean holding company with industrial B2B e-commerce, biohealthcare and logistics businesses. Trailing twelve-month revenue to H1 2026 was about ₩3.43T, but operating income was negative at about -₩6.4B and net income about -₩19.7B. The share price closed at ₩11,540 on 2026-10-23, roughly 18% below its one-year level and within a 52-week range of ₩7,220 to ₩15,300.

What stands out

• Revenue has declined over the last several years, from ₩3.58T in 2022 to ₩3.06T in 2025, with 2025 revenue down 7.7%.
• The company made operating losses in 2024 and 2025 (about -₩5.5B and -₩29.6B) and a net loss of about -₩35.8B in 2025.
• Liabilities are 156% of equity and borrowings are about ₩164B against ₩132B of cash; trailing free cash flow was negative at about -₩52.7B.
• The price-to-book ratio is 0.3 and the data shows a 1.7% dividend yield, but no P/E because earnings are negative.
• Recent filings include a half-year report, a share cancellation decision and a buyback trust contract, while the data shows no recent news headlines.

What to watch

• The next quarterly and annual results, to see whether operating income turns positive and whether revenue stabilises.
• Follow-through on the share cancellation and buyback trust filings, and any related changes to share count.
• Debt levels and negative free cash flow, since the data flags high leverage and borrowings above cash.