Kodi코디

Kodi has returned to a small operating profit on a trailing basis, but its share price has fallen sharply over the past year.

Kodi is a Korean color cosmetics maker that mainly manufactures on an OEM/ODM basis, selling mostly in South Korea. On trailing twelve-month figures to H1 2026 it reports revenue of ₩74.9B, operating income of ₩1.8B and net income of ₩5.7B, with borrowings of ₩14.2B against cash of ₩1.9B. The share price closed at ₩2,285 on 2026-10-23, down 61.9% over one year.

What stands out

• Trailing revenue of ₩74.9B is slightly below 2025 full-year revenue of ₩76.5B, and 2025 operating income of ₩3.8B was higher than the trailing ₩1.8B.
• Trailing net income of ₩5.7B is well above trailing operating income, so the result depends on items beyond core operations; the data does not explain the difference.
• Valuation metrics show a P/E of 4.4 and P/B of 0.4, with no dividend yield, while the data does not include any analyst ratings or price targets.
• Filings in 2026 include a CEO change, an extraordinary shareholders' meeting, a warrant exercise price adjustment, a share cancellation decision and a disaster occurrence notice.
• Foreign ownership is 2.4% and unchanged over 60 days, and recent 20-day flows show retail net selling of about ₩49M against foreign net buying of about ₩44M.

What to watch

• Next quarterly and annual results, to see whether operating margin holds near the trailing 2.4% or recovers toward the 2025 level of 4.9%.
• Follow-up on the bonds-with-warrants repurchase filings and warrant terms, which the data does not explain in detail.
• Effects of the June 2026 disaster occurrence filing and the CEO change on operations, which the data does not describe.