Haatz하츠

Haatz is a small Korean ventilation and kitchen appliance maker whose profits fell in 2025 and whose shares are down 28% over the past year.

Haatz sells range hoods, built-in cooktops, residential ventilation systems and air purifiers in Korea, mainly through construction firms, dealers and online channels. Trailing twelve-month revenue to H1 2026 was about ₩171B with operating income of about ₩9.6B, a 5.6% operating margin. At ₩3,260 the shares trade at about 5.5 times earnings and 0.3 times book value, well below the peer group shown.

What stands out

• Revenue fell 5.2% in 2025 to ₩177B after a 20.6% rise in 2024, and trailing revenue to H1 2026 is lower again at ₩171B.
• Operating margin has eased from 7.3% in 2021 to 5.6% on a trailing basis, while net margin is 4.4%.
• The balance sheet shows cash of ₩16.4B against borrowings of ₩19.5B, with liabilities at 35.3% of equity.
• Trailing free cash flow is about ₩3.0B, and the data shows a 4.3% dividend yield.
• Filings include a September 2026 decision on increasing short-term borrowings and corrected notices on new facility investment; the data contains no news headlines.

What to watch

• The Q3 2026 quarterly report and any preliminary earnings release, to see whether revenue and margins keep declining.
• Details of the short-term borrowing increase and how it affects the gap between cash and debt.
• The company's progress on expanding into commercial composite ventilation fans and bathroom products, which the profile describes but the data does not quantify.