Mona Yongpyong모나용평

Mona Yongpyong's trailing results have swung to a large loss, and the share price has fallen sharply over the past year.

The resort operator, which runs ski, golf and water park facilities and sells condominiums, reported trailing twelve-month revenue of ₩172B and a net loss of ₩43B to H1 2026, after profitable years in 2023 and 2024. Its balance sheet carries liabilities at about 176% of equity, with ₩22B of borrowings against ₩28B of cash, and the shares closed at ₩1,897 on 2026-10-30.

What stands out

• Revenue fell from ₩268B in 2024 to ₩250B in 2025, and trailing revenue to H1 2026 is ₩172B, so the top line has been shrinking.
• Trailing operating income of ₩5.2B (3% margin) is positive, but the net loss of ₩43B shows that non-operating items or other charges weighed heavily; the filings data does not explain the cause.
• Trailing free cash flow was negative at about -₩5.1B and ROE is -11.5%.
• The price is down 46.6% over one year and sits near the 52-week low of ₩1,674, with a 52-week high of ₩3,800.
• The company's DCF-based fair value model gives a base of ₩5,688, but this is a model output rather than a forecast, and the bear case is ₩2,875. Price-to-book is about 0.3 and the dividend yield is 0%.
• Recent filings are mostly insider shareholding reports and largest-shareholder holding changes; the news data has only one headline, about snowmaking for ski conditions.

What to watch

• Upcoming full-year 2026 results and whether the H1 2026 net loss continues, since the data does not include a forecast.
• Further largest-shareholder and insider holding changes shown in filings, and the foreign ownership level, which fell from 2.3% to 1.9% over 60 days.
• Debt levels, with liabilities at about 176% of equity and borrowings exceeding cash, and whether free cash flow turns positive.