Deutsch Motors도이치모터스

Deutsch Motors, a BMW and MINI dealer group, posted a thin-margin first half of 2026 with high leverage and a share price down 14.6% over the past year.

Deutsch Motors sells and services BMW and MINI vehicles through dealerships in Korea, and also runs auto finance, Porsche dealership and property leasing subsidiaries. On trailing twelve-month figures to H1 2026 it had revenue of about ₩2.66T but operating income of only ₩42B and net income of about ₩2B. The share price closed at ₩3,965 on 2026-10-16, well below its 52-week high of ₩5,820.

What stands out

• Trailing revenue is ₩2.66T, but operating margin is 1.6% and net margin is 0.1%, leaving little profit cushion.
• 2025 net income was ₩3.4B after a ₩4.9B loss in 2024, while 2025 revenue grew 17.6%.
• Liabilities are 352.9% of equity and borrowings are ₩141B against cash of ₩103B, so the balance sheet is highly leveraged.
• Trailing free cash flow is ₩105B, which is well above trailing net income.
• Recent filings are mostly debt guarantee decisions to third parties and 5%+ holding reports; the data includes no news headlines.
• The company pays no dividend, and the in-house DCF base value of ₩63,878 is far above the current price, though the bear case is ₩20,405.

What to watch

• The next half-year or full-year results, to see whether margins and net income hold up against the thin trailing figures.
• Further amendments to debt guarantee filings, which relate to the company's borrowing and third-party exposure.
• Trailing P/E of about 51 on very low earnings; the data does not include analyst ratings or forecasts, so this is not a forward view.