Taewoong Logistics태웅로직스

Taewoong Logistics swung to a small TTM loss in H1 2026 as margins turned negative, and the shares are down 35.5% over the past year.

The logistics firm reports trailing-twelve-month revenue of ₩1.19T but an operating loss of ₩5.7B and a net loss of ₩1.9B, after a profitable 2024 and a roughly breakeven 2025. Balance sheet leverage is high at 151.9% liabilities to equity, with borrowings of ₩31.6B against cash of ₩33.0B and negative free cash flow of ₩70.2B. The data also shows a DCF fair value estimate of ₩16,288 on a base case, far above the ₩1,903 close, though that model's inputs are not explained.

What stands out

• TTM revenue is ₩1.19T, but operating margin is -0.5% and net margin is -0.2%, compared with 3.9% operating margin in 2024.
• Net income fell from ₩30.2B in 2024 to a ₩5.4B loss in 2025, and the TTM figure to H1 2026 is also a loss.
• Free cash flow is -₩70.2B on the trailing data, which is a large negative relative to cash on hand.
• Price-to-book is 0.3 and the dividend yield is shown as 6.8%, but P/E is not meaningful because earnings are negative.
• Recent filings include a share buyback decision in July, treasury stock results and a share cancellation decision in August, a debt guarantee for another party, and share acquisitions in other companies in August and September.

What to watch

• The next quarterly or half-year results, to see whether operating income turns durably positive after the TTM loss.
• Free cash flow and borrowing levels, given the negative cash flow and 151.9% liabilities to equity.
• The debt guarantee and share acquisition filings, which the data does not explain in detail; the news feed contained no headlines to add context.