NK엔케이

NK's trailing six-month profit is thin but positive, and the company keeps buying back its own shares.

NK makes fire suppression systems for ships and onshore facilities, plus ballast water treatment systems, mainly for Korean shipyards. Trailing results to H1 2026 show revenue of about ₩146B with a small operating profit of about ₩3.7B, after losses in 2024 and 2025. The share price is ₩9,000, down 42.3% over one year, with a market cap of about ₩67B.

What stands out

• Trailing revenue to H1 2026 is about ₩146B, above the 2025 full-year figure of about ₩130B, while operating margin is a thin 2.5%.
• Trailing net income of about ₩4.8B is well above operating income, and the data does not explain the gap.
• Trailing free cash flow is negative at about -₩2.0B, even though cash of about ₩77B exceeds borrowings of about ₩17B.
• The price is down 42.3% over one year but up 11.5% over three months; it is about half the 52-week high of about ₩17,610.
• Filings and news show a treasury stock buyback trust contract signed on 19 October 2026, with news saying buybacks will continue.

What to watch

• The next results release, as the data does not give a date for Q3 2026 figures.
• Further buyback trust filings and whether the company completes its share acquisitions.
• Whether free cash flow turns positive and whether the 2025 loss trend reverses in future filings.