Winix위닉스

Winix's trailing results show deep operating and net losses, heavy debt and a share price down about half this year.

Winix, a Korean maker of air purifiers, dehumidifiers and clothes dryers, reported trailing twelve-month revenue of ₩432B but an operating loss of ₩115B and a net loss of ₩143B through H1 2026. Borrowings of ₩266B exceed its ₩16B of cash, and free cash flow was negative ₩92B. The share price closed at ₩2,480, near its 52-week low of ₩2,420 and well below its high of ₩6,600.

What stands out

• Revenue rose 5.2% in 2025 to ₩370B, but the operating loss widened to ₩61B from ₩6B in 2024, and the trailing operating margin is -26.5%.
• Liabilities are 654.5% of equity and trailing return on equity is -119.3%, so the balance sheet is a major point of concern in the figures.
• Price-to-book is 0.6 and the market value is about ₩44B, but the enterprise value is ₩294B because of debt, and no earnings-based valuation is available since earnings are negative.
• Filings include a decision on a debt guarantee for another party in October 2026 and an amended debt guarantee filing in July 2026, which suggests contingent obligations.
• Recent news covers product launches and a research partnership, which the data does not connect to financial results. Foreign ownership rose from 0.8% to 1.4% over 60 days, while retail investors were net sellers over the past 20 days.

What to watch

• The Q3 2026 quarterly report and any further details on the debt guarantees, which the data does not yet describe in full.
• Whether borrowings can be reduced relative to ₩16B of cash, given negative free cash flow and the trailing losses.
• Any update on the treasury share sale decision referenced in March 2026 filings, as the data does not give its status.