Mobase모베이스

Mobase's trailing revenue is steady at about ₩1.35T, but thin margins and heavy debt keep profitability and cash flow under pressure.

Mobase makes mobile phone parts, automotive electronic components and industrial sewing machines, with major customers Samsung Electronics, Hyundai and Kia. For the twelve months to H1 2026 it reported revenue of ₩1.35T, operating income of ₩43B and net income of ₩31B, but free cash flow was negative at about -₩11B. The share price is ₩3,630, well above its 52-week low of ₩2,840 but far below its high of ₩9,140.

What stands out

• Trailing operating margin is 3.2% and net margin is 2.3%, both low for the business shown in the data.
• Liabilities are 124.9% of equity, and borrowings of ₩239B are well above cash of ₩72B.
• Annual net income swung from ₩28B in 2024 to ₩12B in 2025, while revenue grew 5.3% in 2025.
• The shares trade at a P/E of 2.8 and P/B of 0.2, with a dividend yield of 3.9%, and the DCF model's base value is ₩16,007.
• Foreign ownership rose from 2.5% to 4.4% over the last 60 days, while retail investors were net sellers over the past 20 days.

What to watch

• The next quarterly or annual filings, to see whether margins and free cash flow recover from the current levels.
• Debt levels and interest costs given the high borrowings relative to cash.
• The corporate value-up plan and any follow-up filings on shareholder returns; the data does not include details of the plan.