Nobland International노브랜드

Nobland's 2026 profit is thin, but its consumer brand news flow has been busy and the stock has fallen sharply over the past year.

Nobland is an apparel design and manufacturing company (ODM) that designs and exports knit and woven clothing for more than 40 global brands, with production largely in Vietnam and Indonesia and most sales to the US and Canada. On trailing twelve-month figures to H1 2026 it reports revenue of ₩645.6B, an operating margin of 3.2% and a net margin of 1.1%, with free cash flow negative at about -₩56.9B. Recent headlines focus on the NoBrand Burger restaurant brand, which the data does not connect to the apparel financials.

What stands out

• Trailing revenue is ₩645.6B and operating income is ₩20.6B, up from ₩13.3B in 2025 on a full-year basis, but net income is only ₩7.1B.
• 2024 showed a large net loss of ₩17.0B, while 2025 returned to a profit of ₩5.1B.
• Free cash flow is negative at about -₩56.9B, and liabilities are 210% of equity, with borrowings of ₩60B against cash of ₩47.7B.
• The shares closed at ₩2,885, down 38.7% over one year and within a 52-week range of ₩2,375 to ₩6,060; valuation shows P/E 6.9 and P/B 0.3, and the internal DCF base value is ₩10,620.
• Headlines are dominated by NoBrand Burger product launches, such as a menu item selling 100,000 units in a week; the filings list treasury share sales, a shareholder meeting and 5%+ holding reports in 2026.

What to watch

• The next half-year or annual results, to see whether operating profit converts into net income and whether negative free cash flow and high leverage improve.
• Further treasury share sales and 5%+ or insider holding reports, which can signal changes in ownership and supply of shares.
• Whether the restaurant brand's publicity translates into reported earnings, since the data does not break out its contribution to group results.