Eagon Holdings이건홀딩스

Eagon Holdings returned to a small operating profit on a trailing basis, but its margins are thin and the shares are down 40% over the past year.

Eagon Holdings is a Korean holding company with window, plywood and flooring, forestry, power and pallet businesses. On trailing figures to H1 2026 it has revenue of about ₩436.7B, operating income of about ₩7.1B and net income of about ₩1.2B, after losses in 2023 to 2025. The shares closed at ₩2,610 on 20 October 2026, a market value of about ₩58.9B.

What stands out

• Trailing operating margin is 1.6% and net margin is 0.3%, so the business keeps very little of each won of sales.
• Revenue fell 10.1% in 2025 and net losses were recorded in 2023, 2024 and 2025 (₩4.9B loss in 2025), so the trailing profit is recent and small.
• Borrowings of about ₩74.8B exceed cash of about ₩34.7B, and liabilities are 106.8% of equity.
• The data shows a fair value model range from ₩3,064 (bear) to ₩27,304 (bull) with a base of ₩11,249, but this model's assumptions are not explained in the data and it is not a forecast.
• Recent filings include a buyback trust contract (Aug 2026), a major management matter (Aug 2026) and fines imposed on a subsidiary (Apr 2026); the data does not explain their size or effect. No news headlines were provided.

What to watch

• The next half-year and quarterly filings, to see whether operating profit holds above break-even as the trailing figures suggest.
• Details of the August 2026 management matter and the buyback trust, which the data does not describe.
• Debt levels relative to cash, given borrowings of about ₩74.8B and a shareholder equity ratio that implies high leverage.