Tera Science테라사이언스

Tera Science is loss-making and heavily indebted, with a half-year 2026 filing flagging capital impairment and a rights offering in progress.

Tera Science makes hydraulic pipe fittings for construction and industrial vehicles. On a trailing twelve-month basis to H1 2026 it recorded revenue of about ₩14.4B, an operating loss of about ₩8.4B and a net loss of about ₩17.1B, with borrowings of about ₩12.9B against cash of about ₩2.6B. The share price was ₩654 on 2026-10-19, for a market value of about ₩76.1B.

What stands out

• Revenue has fallen from about ₩23.1B in 2023 to about ₩14.1B in 2025, and operating margin was -71.7% in 2025.
• The 2025 net loss of about ₩17.1B matches the trailing figure, and free cash flow over the trailing period was about -₩12.0B.
• The half-year report filed 2026-08-14 came with a notice of an adverse audit opinion and a capital impairment ratio of 50% or more, which the filing title itself names.
• Recent filings show a rights offering (paid-in capital increase) decision, a share transfer in another company, a disposal of tangible assets and a merger completion report.
• Price returns over 1 month, 3 months and 1 year are shown as 0%, and no news headlines were provided, so no market-driven news is available in the data.

What to watch

• Progress and terms of the rights offering, including its size and pricing, once the amended decision is finalised.
• The audit status and the capital impairment position disclosed in future filings, given the adverse opinion flagged in August.
• Whether the business can narrow its operating loss and reduce borrowings relative to cash, which the data does not forecast.