Samhwa Networks삼화네트웍스

Samhwa Networks remains loss-making on a trailing basis, with its shares down sharply over the past year.

Samhwa Networks, a KOSDAQ-listed entertainment-sector company, reported trailing twelve-month revenue of ₩36.7B to H1 2026 with an operating loss of ₩1.6B and a net loss of ₩0.9B. Revenue has fallen for three consecutive years from its 2022 peak of ₩82.3B, and the shares closed at ₩1,996 on 2026-10-28, roughly 48% lower over one year. The company profile was not included in the data, so its business description is unavailable here.

What stands out

• Revenue fell 20.2% in 2025 to ₩37.3B, and TTM revenue to H1 2026 is ₩36.7B, so the decline has largely levelled off at a lower base.
• Operating margin was -4.4% on a trailing basis after a small profit of ₩0.7B in 2024, and 2025 was also a loss.
• The balance sheet looks modest: liabilities to equity is 33.1%, cash is ₩2.3B and borrowings are ₩0.6B, though the data gives no detail on cash burn beyond trailing free cash flow of ₩1.9B.
• Valuation metrics are low: price-to-book is 0.6, price-to-sales is 0.9, and the company pays no dividend. P/E is not meaningful given the losses.
• The DCF model gives a base value of ₩410 against the ₩1,996 close, with a bear value of ₩154 and a bull value of ₩956; this is a model output, not a forecast.
• Filings in recent months include several major sales or supply contracts, a buyback trust that was terminated and then re-signed, and 5%+ holding reports. No news headlines were included in the data.

What to watch

• The next half-year or annual results, to see whether operating losses narrow from the trailing -₩1.6B.
• Follow-up filings on the major sales or supply contracts, including the amended contract filed 2026-09-23, and whether revenue responds.
• The status of the buyback trust arrangement and any further share purchase or ownership filings; the data does not explain the reason for the termination.