Seoul Auction서울옥션

Seoul Auction is still loss-making on a trailing basis, though its shares have fallen sharply over the past year.

Seoul Auction runs art auctions and related services in Korea, with revenue of about ₩30.8B over the twelve months to H1 2026. It reported an operating loss of about ₩1.8B and a net loss of about ₩9.5B over the same period, and it pays no dividend. The stock closed at ₩5,060 on 2026-10-22, roughly 49% above its 52-week low of ₩4,100 but about 49% below its 52-week high of ₩9,950.

What stands out

• Trailing revenue of ₩30.8B is well below the ₩79.0B reported for 2021, and annual operating losses have been recorded since 2023.
• Borrowings of ₩100.4B exceed cash of ₩16.5B, and liabilities are about 119% of equity.
• Trailing free cash flow was positive at about ₩13.8B despite the net loss.
• Price-to-book is about 0.9 and price-to-sales about 2.9, but no price-to-earnings ratio is shown because earnings are negative.
• Foreign ownership fell from 2.9% to 2.2% over the past 60 days, and 20-day flows show foreign and institutional net selling with retail net buying.

What to watch

• The full-year 2026 results and the next half-year filing, to see whether losses narrow from the trailing figures.
• Debt levels against cash, since borrowings are much larger than cash on hand.
• Recent news cites 3Q hammer totals of ₩13.1B and a first Busan Sale in four years, but the data does not show how these translate into profit.