Wiable와이어블

Wiable's shared wireless relay business is profitable again on a trailing basis, but revenue has been shrinking and the share price has swung widely.

Wiable builds and maintains shared wireless base station networks for mobile carriers in places like subways, tunnels, stadiums and parks, and is adding defense system support and solar power. On a trailing twelve-month basis to H1 2026 it reported revenue of ₩74.7B... correction needed below.

What stands out

• Trailing revenue is about ₩74.7B with operating income of about ₩7.2B, an operating margin of 9.7%, up from 7.2% in 2025 and 4.8% in 2024.
• Full-year 2025 revenue fell 4.9% to ₩75.5B, after a 9.5% rise in 2024, so the top line has not grown steadily.
• Borrowings of about ₩25.9B are large against cash of about ₩2.4B, and liabilities are 85.5% of equity.
• The shares trade near ₩1,353, about 10.5 times trailing earnings and 0.8 times book, with a 3.7% dividend yield, though a discounted cash flow model in the data gives a base value of ₩744 and a bull value of ₩2,285.
• Foreign ownership fell from 1.3% to 0.7% over the past 60 days, while retail investors were net buyers over the last 20 days.

What to watch

• The next filing with full-year or quarterly results, to see whether margins hold above the 2025 level.
• Progress on the amended major sales or supply contract filed in June 2026, which the headlines do not explain.
• Any further news on defense or solar projects; the news feed in this data is empty, so details are not available.