Kolon Industries코오롱인더

Kolon Industries is a thinly profitable, highly indebted industrial and fashion group whose shares have fallen about 27% over the past month and three months.

Trailing twelve-month revenue is about ₩5.0T with a 4% operating margin and 2.7% net margin, and borrowings of ₩2.6T sit well above cash of ₩0.2T. The share price is ₩39,800, roughly 62% below its 52-week high of ₩104,900, while trading at 8.8x earnings and 0.3x book value.

What stands out

• Profitability has weakened: operating income fell from ₩252B in 2021 to ₩109B in 2025, and net income dropped from ₩189B to ₩38B over the same period.
• Trailing twelve-month results to H1 2026 show operating income of ₩197B and net income of ₩136B, above the 2025 full-year levels, with free cash flow of ₩245B.
• The filings list an advance notice of earnings results, so the company has signalled a results release is coming.
• The company's latest headlines are about a new airbag fabric plant in Vietnam with a ₩70B investment and AI-related workplace and safety initiatives.
• Foreign ownership edged up to 19.5% from 19.3% over 60 days, while institutions and retail investors were net sellers over the last 20 trading days.

What to watch

• The upcoming earnings results, including whether margins hold near the trailing levels.
• The debt load: borrowings of ₩2.6T against ₩0.2T of cash and liabilities at 86.5% of equity.
• The fair value model in the data gives a base of ₩27,904 with a bull case of ₩176,542 and a bear case of zero, which shows how wide the valuation range is; the data includes no analyst ratings or price targets.