Cube Entertainment큐브엔터

Cube Entertainment is loss-making on a trailing basis after revenue fell sharply, and the shares are down about 58% over the past year.

Trailing twelve-month revenue to H1 2026 is ₩27.4B, with an operating loss of ₩14.4B and a net loss of ₩8.9B, after a steep drop from ₩218B in 2024. The company has ₩13.1B in cash, free cash flow of about -₩31.0B, and a price-to-book ratio of 0.6 at a ₩6,350 close. The data does not include a company profile or recent news headlines, so the business drivers behind the decline cannot be confirmed from this pack.

What stands out

• Revenue fell from ₩87.2B in 2025 to ₩27.4B on a trailing basis, and operating margin is -52.8%.
• The 2025 result was already a loss (operating income -₩7.3B, net income -₩5.2B) after profits in 2022 to 2024.
• Free cash flow of about -₩31.0B is larger than the ₩13.1B cash balance, which is a point to check against the filings.
• The filings list a rights offering decision (June 2026, amended August 2026), a share cancellation decision (July 2026), a CEO change (June 2026), and a major sales contract amendment (September 2026).
• The company's own fair value model gives a base of ₩477, bear ₩308 and bull ₩832, well below the current price in the base case; these are model outputs, not forecasts.

What to watch

• The rights offering (paid-in capital increase) details and its effect on existing shareholders, as it was decided in June and amended in August 2026.
• The next quarterly or annual report, to see whether the operating loss and negative free cash flow continue.
• The ₩14.4B trailing operating loss and the contract amendment in September 2026: the data does not say what the contract covers or whether it changes revenue.