CJ ENMCJ ENM

CJ ENM is back to a small operating profit on trailing numbers, but it still posted a net loss and its share price is far below its 52-week high.

Trailing revenue to H1 2026 was about ₩5.2T with operating income near ₩138B (2.7% margin) and a small net loss of about ₩4.5B. Leverage is high, with liabilities at 152.5% of equity and borrowings of about ₩1.5T against cash of about ₩714B. The stock closed at ₩40,550, up 33.8% over three months but down 40.5% over one year.

What stands out

• 2025 full-year net income was a profit of about ₩29.5B, after large losses in 2023 and 2024, but trailing net income to H1 2026 is slightly negative.
• Revenue fell 1.9% in 2025 after rising 19.8% in 2024, and operating margin has stayed low at roughly 2–3% since 2022.
• Recent headlines focus on global content sales, including a series pre-sold in 118 countries and Netflix titles, and a partnership with MBC GROUP for the Middle East.
• A brokerage cut its target price on 13 October, citing limited visibility on an industry rebound; the data does not include any other analyst ratings.
• Valuation looks low on price-to-book (0.3) and price-to-sales (0.2), but the P/E is not meaningful because earnings are near zero, and there is no dividend (0% yield).

What to watch

• The advance notice of earnings was filed on 8 October 2026; the full results and their details are not in the data yet.
• Foreign ownership fell from 12% to 10.9% over 60 days and foreign investors were net sellers over the last 20 days, while retail investors were also net sellers.
• Several related-party and affiliated transaction filings in August and September, plus amended major management filings, bear on governance and debt levels.