ES CubeES큐브

ES Cube's trailing results show a large operating loss on falling revenue, though net income is positive and the stock has risen over the past year.

ES Cube makes tents and outdoor shelters under ODM and OEM arrangements for brands such as Snow Peak and Coleman, with production in China and Vietnam. Trailing revenue for the twelve months to H1 2026 was about ₩16.2B, with an operating loss of about ₩7.2B, while the 2025 full year showed revenue down 13.9% and a larger operating loss. The share price closed at ₩3,540 on 2026-10-28, within its 52-week range of ₩2,225 to ₩3,750.

What stands out

• Operating margin is -44.3% on a trailing basis, and the 2025 full-year operating margin was -92.1%, so core operations are loss-making in the data provided.
• Trailing net income is about ₩4.8B, a positive figure that differs from the operating loss; the data does not explain the gap, so the cause is unclear from the pack.
• Trailing free cash flow is about -₩7.8B, and cash of ₩14.2B exceeds borrowings of ₩10.0B.
• Valuation shows a P/E of 10.1 and P/B of 0.5, with no dividend yield; the data includes no fair value estimate or analyst views.
• Recent filings are mostly insider shareholding, trading plan and 5%+ holding reports, and the half-year report for June 2026 was filed on 2026-08-14. No news headlines were included in the data.

What to watch

• The next results and whether operating losses narrow from the trailing -44.3% margin.
• Further 5%+ holding and executive trading plan filings, given recent activity in the filing list.
• Whether free cash flow turns positive, since the trailing figure is about -₩7.8B.